Going, Going, Gone

The generational shift that's redefining what a collector car is.

- COLIN COMER

SEVEN YEARS AGO, I offered Road & Track readers some collector-car market predictions. Here's an excerpt: "Gen Xers are chasing cars from the Seventies, Eighties, and even the early Nineties. Leading the charge? Yep. Fox-body 5.0L Mustangs.... Which brings us to my pick: 1984 to 1993 Saleen Mustangs.... With a significantly improved suspension, brakes, and upgraded interior trim and exterior styling, they are indeed the 1965/1966 GT350s of the Eighties. And just like those Shelbys that were quite inexpensive even in the Nineties, the Saleen prices of today will seem ridiculously cheap in the next 10 years....

The 5.0L Fox-body cars are increasing in value rapidly-at least 10 percent a year from what I've seen. And the really special versions, such as the Cobra Rs and Saleens, are exceeding that by a large margin. Examples: a showroom-quality, low-mileage 1988 LX 5.0 5-speed will trade around $15k. A similar quality 1988 Saleen Mustang is $25k."

Well, I just returned from a Mecum Auctions sale in Indianapolis, where I witnessed a 1989 Saleen Mustang sell for $192,500. Now, granted, this one had just 15 miles on the odometer, but still, almost $200K for a Saleen Mustang exemplifies what I am seeing: Eighties and Nineties cars are what's the emoji the kids use today? Oh, yeah, fire.

In any event, it shows that a lot has changed in the past seven years. Also, I am still all in on Fox-body Saleen Mustangs as a strong buy. First, they are an absolute riot to drive. Second, they have racing history and were built in minuscule numbers. Third, they have a tremendous following, club support, and a loyal group of owners. These are the same things that have kept 1965-70 Shelby Mustangs A-list collectibles for decades. There are plenty of good Saleens to be had outside of the headline auction sales, and in another seven years, we'll probably be looking back and laughing about how cheap they were at this point too.