[olddog]

First it is the condition it is in (maintained), how well it was built, the parts used, and the reputation of company that produced the components.

My personal observation is that these cars get driven very little. They get upgraded and improved continually. Therefore they do not depreciate like a normal car. Again my personal opinion. Other factors are: is the company still in business? How hard will it be to source parts? What does a new one from the same company sell for today.

To make my point a Kirkham sold around $50K in 2000 and now more like $110K. Figure $15K for a drive train in 2000 and you would have had about $65K in it. Today that 2000 model is not selling under $65K. It will be priced $90-$125K. The price of a new Kirkham and it availability sets the price. Depreciation has nothing to do with it. Granted only a Shelby and a Kirkham can pull this off, but there are a lot that are very close.

It is human nature to learn something, then as time and interest fade away, you do not keep up with current events. Around here people tend to remember what a cobra was worth when they first purchased, and forget what inflation has done to money. They tend to think things are overpriced.

10 yrs of 3% inflation is 34.4%
20 yrs of 3% inflation is 80.6%

10 yrs of 2% inflation is 21.9%
20 yrs of 2% inflation is 48.6%

If 20 years ago a certain level Cobra was worth $20K, today that same car in the same condition is likely worth $30 - $36K. Just because money has lost value.

That all said prices around here may tend to be a tad low.