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Baby Boomer Cars Worth Millions
Buyers Relive Youth
In fact, some of those cars are now worth millions and many local people are swimming in the money created by baby boomers’ first cars.
Alan Lewenthal, of Wynnewood, Pa, caused a sensation at the 2005 Barrett-Jackson Car Auction in Arizona.
When they brought out the “only one in the world” 1954 Oldsmobile F-88 concept car and he bid and won it for a client. His client paid a record $3 million.“It was an exciting moment. And that's what made me who I am,” Lewenthal said.
Since then, 42-year-old Lewenthal started Marquis Auto Restoration in Northeast Philadelphia.Marquis is packed with muscle cars from wealthy clients who all want them restored to perfection.
Baseball star Reggie Jackson hired Lewenthal to prep his ‘64 Shelby Cobra for racing.A ‘67 Ferrari built for actor William Holden, an original ‘71 Corvette with the sales sticker still on the window, a ‘56 Corvette with new paint, all fill Marquis.
There is also a room full of muscle car skeletons, a rare ‘68 Shelby GT 500, a ‘69 Chevelle Coupe and a ‘65 Pontiac GTO.Customers who couldn’t afford them when they were teens own them now.
Most buyers are trying to relive their youth and others buy for investment reasons, Lewenthal said.Right now, the one car increasing in value the fastest is a 1971 Plymouth ‘Cuda Convertible. If it has a hemi in the engine it could be worth more than $2 million.
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