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K5 Collecibility

sdufeu

sdufeu

84 K5 4x4 in Ohio
Joined
Jun 30, 2019
Posts
39
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Location
Ohio
My wife and I are classic car enthusiasts.. She particularly loves classic trucks. I set about looking for the perfect classic 4x4 that could still fullfil driver duty. The old boxy Broncos have hit wealthy collectors' radars and routinely go for $70k plus... So I thankfully migrated to the K5 realm.

These square body trucks have all the nostalgia of bygone days with the reliability of a daily driver if you find the right one (which I'm pretty sure I have)

At any rate, my point is.. as an avid follower of the auctions and trends with classic cars, I feel confident that these K5s are on the cusp of a huge spike in value.. thoughts?
 
It all depends on the buyer as to what a Square is worth. I like a lot of other members on this site, have thousands of dollars in are rigs. That doesn't count all the hours of labor.
 
frankin5 said:
It all depends on the buyer as to what a Square is worth. I like a lot of other members on this site, have thousands of dollars in are rigs. That doesn't count all the hours of labor.
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Right.. my point is less around what owners have put into them, as what value the fickle collector's market will attribute them. I'm predicting that stock-ish K5s in quality driver condition will soon skyrocket like the Broncos have..
 
Hagerty lists the square body K5's as second of the top ten vehicles to go up in value in the near future (second to the aforementioned old style Bronco.) That is, for trucks. Just going off an email they sent me concerning auto values that were expected to rise the fastest.

BTW, vehicles seem to peak at the point where 40 year olds want to, and can afford to, get the vehicles they had, or wanted, when they were teens in high school.Kind of a "mid-life-crisis" thing, IMO.
 
trukman1 said:
Hagerty lists the square body K5's as second of the top ten vehicles to go up in value in the near future (second to the aforementioned old style Bronco.) That is, for trucks. Just going off an email they sent me concerning auto values that were expected to rise the fastest.

BTW, vehicles seem to peak at the point where 40 year olds want to, and can afford to, get the vehicles they had, or wanted, when they were teens in high school.Kind of a "mid-life-crisis" thing, IMO.
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Exactly.. I didn't choose this vehicle as an investment, but I don't mind if it increases in value as I maintain it.. ours is a beautiful example and turns heads everywhere we drive it.. from those who remember it fondly.. I really think we'll see an upswing in price as validated by Hagerty as you mentioned.
 
For me a perfect classic isn't what I am after. I do appreciate a perfect 10 in any vehicle but I would never own one. It becomes a garage ornament at that point. I want a usable, reliable one with drivetrain upgrades. Now that collectible squares are going for, 30k, 40k, 50k and beyond I just think its silly. GM made millions of these things, they are literally everywhere. A sweet looking stock first gen square is great but mechanically its pretty lousy compared to todays standards. Same reason most guys are doing an LS swap instead of rebuilding the old 350. Restomod is the only way to go for me but the auction crowd wants stock trucks. Leave the stock ones in a museum where they don't get used and just look pretty. If you can't tear down a dirt road without fear of resale value then I feel a major mistake has been made. The whole Hagerty crowd isn't for me.
 
HankScorpio said:
GM made millions of these things
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I would have to agree with this. The vehicles that are worth a lot are the ones that not many where made. like a 1970 Dodge Challenger R/T with a 440 Magnum in it. Not a whole lot of these where made because they where so expensive. There where millions of the square body Chevy 1/2-ton Blazers manufactured over its 27-year run of manufacturing. The 1-ton square body Chevy 4X4 pick-up may be worth more because of the expensive 1-ton drive train they came with, thus there where not as many of them sold.
 
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My odd perspective that some of you here already know:

I recently considered trading in a vehicle or two toward a new one. The local Toyota dealership, working with VT Federal Credit Union, valued my filthy, slow, M1009 at $16400. After I picked up my jaw from the floor, it was explained to me that they could probably do better than that, as that was the minimum they would give me. The finance guy thought my reaction was in thinking that his estimate was too low! I thought he was at crackhead level high value. I explained the condition of my vehicle and was told it was worth at least $16400 regardless. The only computer entry was for 1985 K5 with a 350 and 4WD. There were no other engine options, trim levels, or transmission options. I explained it was a bare bones military vehicle with no creature comforts....still worth $16400 at the very least.
 
sdufeu said:
... value the fickle collector's market will attribute them...
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"Fickle" is a bit of an understatement. Compounding that problem is (IMHO) what I'd politely describe as unscrupulous hype from classic car dealer/flippers, and made all the worse by really rich guys who have almost zero sense about doing the most basic kind of "comps" (like people do when they're negotiating a price for a house) on this angle of collector vehicles. Me, my narrow focus is on the much more rare '76 / '77 Blazer Chalets and Jimmy Casa Grandes, which I've watched and tracked mostly through eBay / Craigslist sales ever since 2005.

I've gotten into arguments elsewhere on the relative value of these. One case in point was a recent online bit ( linky ) for Chalet #1683 telling how it supposedly sold for $29,000. The argument goes, "If this one in this "nice" of condition is worth that much, then by default others must be as well." Problem is, it isn't actually that nice with all its assorted spit shine / unrestored detail problems, and it's only been in the hands of dealer / flippers non-stop since it was first listed in 2008 at an arguably too-high $8k price in Montana. No improvements to it since that time that I'm aware of. Funny thing is, if whoever bought it this summer had been paying attention, they could have bought for half that price last year where it was languishing unsold for two or three years at a dealer /flipper's lot … because savvy buyers knew it was overpriced back then.

Then there is Chalet #1203 which sold in late spring on eBay for just over $20 grand ( eBay aggregator site linky showing starting price). It shined up nice which downplayed its rust, but actually had its popup roof glued down years back, and its camper interior totally gutted and replaced, despite the ebay seller implying it was all original. Same situation with the buyer - if he'd known about prior Craigslist offerings of it, he could have bought it in identical spit-shined condition in a different part of CA for $9500 in the early spring, or for $4500 last year in Oregon. If that was a legit ebay auction result, the buyer clearly had money to burn.

I could count off the number of other rigs that have sold for astronomical figures on the fingers of one hand, but just those few seem to be influencing the asking prices for numerous less pretty rigs I've seen lately. Just sayin' ... the market for buyers who have more money than God and no patience to go looking for rigs with sensible prices is growing smaller each time these gullible guys buy one. Are these rigs going up in value? I'd argue they aren't at all at the present time for any valid reason beyond basic consideration of what the price of inflation does to most older vehicles.

My 2 cents/rant on K5s with GM factory campers on 'em, anyway …
 
^^^ this is why a clapped out junk Chalet is listed for $4500 here in Vegas. Also a stripped full vert tub is listed for $2300
 
As the years tick by, some rigs will be worth more than others due to rarity. 73-75 K5’s, 87-91’s or really well done restomods or original examples.

chalets are kind of a niche deal. They’re cool but not all that usable.
Some trucks are worth 15-25k and some are listed at that price that are clearly not.

May the end of the day you cannot base prices on something built in high numbers on barret jackson prices. Auctions are high dollar and does not indicate true market value.
 
A lot of interesting perspectives, here..

As a classic car enthusiast, I despise witnessing the artificial inflation of some marques by the whim of the uber wealthy collectors who only appreciate them for their investment potential.. However, having let a few go that subsequently went through the roof, I'm cognizant of the trends.. and I'm saying that the K5 (1st Gen, very soon 2nd Gen) are on the radar and set to skyrocket.

I get that a lot of folks here see it as mass produced, but I see a lot of them chopped. That's fine, and I appreciate those, but of the "millions" I'm told were produced, I don't see that many in quality original condition, which drives up the value of those examples..

If anything I think it's a good idea as owners to reinforce their market value.. in the mean time we'll be driving and enjoying ours daily.
 
The original poster is a car enthusiast and asked if we thought that the K5 was due for a huge spike. I think it definitely will, but it will be relative. These vehicles will see their highest values through the next 10 years, maybe 15, then they will drop off like every vehicle usually does. When the generation who covets these trucks get into their 70's and nobody younger gives a damn about them, they will fall in value.
I also agree that the the most motivated buyers of these are in their 40's right now.
I wouldn't personally buy them as an investment, I would buy because I love them.
I bought mine when i was in my 40's...now it hurts really bad to work on one...but for me it's all about the nostalgia and memories. Always wanted one...
 
Chief Brody said:
The original poster is a car enthusiast and asked if we thought that the K5 was due for a huge spike. I think it definitely will, but it will be relative. These vehicles will see their highest values through the next 10 years, maybe 15, then they will drop off like every vehicle usually does. When the generation who covets these trucks get into their 70's and nobody younger gives a damn about them, they will fall in value.
I also agree that the the most motivated buyers of these are in their 40's right now.
I wouldn't personally buy them as an investment, I would buy because I love them.
I bought mine when i was in my 40's...now it hurts really bad to work on one...but for me it's all about the nostalgia and memories. Always wanted one...
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I had a bunch of old vinyl albums I wanted to sell. I took them to a guy that owns a record store that buys old vinyl. I had several old Beatles albums on the original Capital Rainbow label, and some on the original Apple label that where in good condition. He said he was not interested in the Beatles albums because the Beatles where so popular that there are many thousands of them out there. I also had an old Alice Cooper album on the original Frank Zappa Straight label before Alice Copper became famous, and went onto the Warner Bros label. Since Alice Cooper was not very well known at the time of the release of my Alice Copper album, not many of the albums I had where printed or sold. He said that album was the one that was worth some money compared to the Beatles albums that sold Millions of copies.

This is what collectability is about.
 
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1-ton said:
I had a bunch of old vinyl albums I wanted to sell. I took them to a guy that owns a record store that buys old vinyl. I had several old Beatles albums on the original Capital Rainbow label, and some on the original Apple label that where in good condition. He said he was not interested in the Beatles albums because the Beatles where so popular that there are many thousands of them out there. I also had an old Alice Cooper album on the original Frank Zappa Straight label before Alice Copper became famous, and went onto the Warner Bros label. Since Alice Cooper was not very well known at the time of the release of my Alice Copper album, not many of the albums I had where sold or printed. He said that album was the one that was worth some money compared to the Beatles albums that sold Millions of copies.

This is what collectability is about.
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I agree to a point...but we have to broaden the meaning of collecting with automobiles. People "collect" cars and trucks like I collect coffee cups. Millions made, but I collect them and some are hard to find. With records there are some seriously rare vinyl...how many purple Deep Purple albums are out there? The beatles White album on White vinyl would have trumped the Alice Cooper...not the average one you picked up at Radio Shack.
Maybe the terminology is wrong...maybe we aren't collecting K5's maybe we just own a classic? Oh, and if you haven't looked lately, that vinyl record you payed $5.00 for in 1975 is now selling for $40..if it's in great condition
 
K5 prices have been rising for a few years now. I think they will continue to rise but I highly doubt they will ever reach 1st gen bronco prices
 
GoGoGirl said:
My odd perspective that some of you here already know:

I recently considered trading in a vehicle or two toward a new one. The local Toyota dealership, working with VT Federal Credit Union, valued my filthy, slow, M1009 at $16400. After I picked up my jaw from the floor, it was explained to me that they could probably do better than that, as that was the minimum they would give me. The finance guy thought my reaction was in thinking that his estimate was too low! I thought he was at crackhead level high value. I explained the condition of my vehicle and was told it was worth at least $16400 regardless. The only computer entry was for 1985 K5 with a 350 and 4WD. There were no other engine options, trim levels, or transmission options. I explained it was a bare bones military vehicle with no creature comforts....still worth $16400 at the very least.
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That guy probably would have been fired shortly after you traded the m1009 for that amount of money, lol
 
muddermilitia said:
K5 prices have been rising for a few years now. I think they will continue to rise but I highly doubt they will ever reach 1st gen bronco prices
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I'd agree. The first gen Broncos are crazy expensive now. The squares will continue to rise but not to that point, I believe.
 
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