(Photos courtesy of Barrett Jackson’s website)
For years, the Barrett Jackson auctions that happen every January in Scottsdale, Arizona have been looked to as a premier event for car lovers and gearheads to watch both in person and from a distance via their televisions. At one point, Barrett Jackson would help set the trends of what was hot in the collector car world at the time, and that can still be said, to a degree. But one thing that’s certain: Barrett Jackson auction prices are usually overinflated to the point of absurdity for a lot of the popular rides that we gearheads love, and the trickle-down effect from these sales can impact the car hobby in a lot of ways.
You all know what a 2nd Generation Pontiac Firebird is, I’m sure. In the past 10 years, the interest in the later ones, specifically the 1977-1981 models, has shot up exponentially. Yes, we all know about the “Smokey and the Bandit” black and gold Special Edition cars, and now that the guys that coveted them as kids and teenagers are in that “midlife crisis” age group, they are clamoring to buy nice examples of these cars to relive those dreams of trolling the strip and blasting Van Halen out of the 6×9’s (not that there’s anything wrong with that!). All that is great, but what happens when these cars start getting priced out of range of the Common Man?
Case in point: This 1979 Pontiac Trans Am that crossed the block earlier this week.
The 10th Anniversary Trans Am is one pretty bird, if you ask me. The silver and charcoal paint scheme, the silver leather interior, and the hood bird that’s so damn huge that it’s wings spread onto the fenders all work together to create a visual package that’s so 70’s, yet so awesome. It looks like a giant 1:1 Hot Wheels car, and there’s absolutely nothing wrong with that!
This is an unbelievably nice example of a 10th Anniversary Trans Am with only 7.9 miles on the odometer. Yes, you read that right, 7.9 miles, and it’s all original right down to the Goodyear PolySteel Radials. This was bought by a guy back when it was new to basically look at. It sat in the guy’s shop for years, an he periodically started the car over the years to keep things functioning, but he never drove it. This example is also a W72 Performance Package car, making it one of just 1,817 10th Anniversary cars that left the factory with a Pontiac 400ci V8 and a Borg Warner Super T10 4-speed manual transmission. The ’79’s with the W72 package are considered to be the last “true” Pontiac performance car, because after these cars were sold, the storied 400 was gone and all that was left was the lowly 301 and the much maligned (and misunderstood) 301 Turbo. So yes, this is a special car. But is it special enough to fetch $187,000? I don’t know about that, but this is a SOLD car, so someone thought it was!
So, what’s so special about the 10th Anniversary cars anyway? They commemorate the 10th Anniversary of the Trans Am model, which debuted in 1969. They came with that special paint and decal set, special silver leather interior, 15×8 polished “Turbo” wheels, the WS6 handling package (4-wheel disc brakes, bigger sway bars, better steering box, and other suspension enhancements), a power antenna, red backlit gauges, mirrored T-Tops, and a digital 8-track player. If you clicked off the box for the W72 Performance Package, you also get a 220hp/320tq Pontiac 400 and a 4-speed manual transmission to replace the Oldsmobile 403 and TH350 automatic that came standard. Rumor has it that Pontiac wanted to sell 10,000 examples of this special Pontiac with the Pontiac drivetrain, but only 1,817 examples were built due to a glitch letting people special order the W72 package in regular Trans Ams and other Special Edition models, and they ran out of engines midway through the model year. Also, the engines were built during the 1978 model year run and set aside for these cars, since they stopped production of the 400 V8 at the end of the 1978 model year to transition to “Corporate” engines like the 301 and eventually the Chevrolet 305 and 350.
This car is a super low-mileage example, but shockingly, a lot of 10th Anniversary cars out there are. In fact, it’s probably more common to see one in nice shape than to see a basket case car. But even so, as far as I know, none have sold for this much. What does this mean for the common gearhead? Well, it can have two profound effects: One, is that every mullet-festooned weirdo with a 77-81 Firebird on cinder blocks on their front lawn now thinks their car is worth tens of thousands of dollars because they saw this shiny one on TV sell for $187k. This kind of thing drives up the resale value of ALL of these cars, whether they are a 10th Anniversary Special Edition or just a pedestrian Firebird Esprit. These cars were already hot, and now they are hotter than ever. That sucks for anyone that doesn’t have one that wants to buy one as a cool, affordable father/son project or isn’t made of money. The other effect is that since everyone wants one of these cars now, the aftermarket will step up and offer more restoration parts than ever before. Stuff that’s been unavailable for years, like replacement fenders and dash boards, are starting to pop up from the big restoration companies, and that is great for people that already have one or are lucky enough to have found a deal on one that needs some help.
In that mess somewhere is the thing that makes this car more special than the regular 10th Anniversary models: the W72-spec Pontiac 400 V8. For a car with such low miles, this looks a little grungy under the hood, but I don’t see anything major out of place. If it’s truly all original under there, even turning one screw would devalue the car. Note that dryer duct-looking air intake on the air cleaner; while the shaker still shakes, the fresh air comes in through the fender well thanks to government noise regulations. Many people just cut the shaker open on “Day 2”.
Now for full disclosure: I actually own a 1979 Trans Am, specifically, a WS6 car with a Pontiac 400 swapped in place of it’s Olds 403. It needs some help these days with some rust repair, and the interior is getting pretty ratty. I bought it back in 2002, and they make a lot more restoration parts for it today than they did back then, thanks to the collector car market heating up. Most parts I need are a mere click away now, whereas I used to have to troll used classifieds and junkyards for certain items. I get to benefit from the popularity of these cars! You may be seeing more of this car in the future.
I also used to own a basket case 1979 10th Anniversary W72 car, optioned exactly like the car sold at the auction. It needed everything, and had not run in years, but it still carried value. It sold for a lot less than $187k back when I had to sell it in 2011, but I was still happy with what I got out of it. Maybe I should have hung onto it for a few more years!
The Silver leather interior in these cars was special in itself when compared to other Trans Ams. Based on the Deluxe interior of the regular Trans Am, which is an option in itself, these cars had birds embroidered into the door panels and rear seat, and had real leather seating surfaces. The steering wheel was also leather wrapped, and the carpet was a thicker 70’s approved shag-like pile. They do reproduce these interior components today, and if you got a basket case car that needs the seats redone, expect to shell out over $1100 just on the covers alone. Ouch! But hey, at least they make the parts!
Will these cars ever see the demand of some of the more well-known musclecar icons, such as the Hemi E-body cars, the Boss 429 Mustangs, the NASCAR aero warrior homoglation specials, and the LS6 Chevelle SS’s? Who knows, but more and more nice examples are crossing auction blocks across the world. Were they slow compared to the cars from the heyday of muscle? Yes, but for $187k, this is going to be someone’s garage ornament, never to be driven. This is purely an ornamental piece for someone’s collection. I don’t know if the trend has reached it’s peak, but only time will tell. I, for on, never thought these cars would command this kind of money!
What cars do you think are next in line for auction absurdity? Will we ever see a $200k Fox Mustang or IROC-Z? Let us know what you think!
More money than brains…maybe his grandchildren will thank Uncle Bucks.
And yes, we are totally aware of the $500k 1977 Trans Am that sold yesterday too. That’s insane, but that’s a movie car, and those play by different rules. Still nuts though!
If you have ever been there than you know what a shady operation that whole thing is. I suspect it will all come tumbling down one day do to tax or money laundering issues. I you aren’t one of the rich and stupid they treat you like a homeless bum. So for the near future B/J will issue his rich and stupid their tub of vasoline upon arrival but some day it will all fall.
I predicted this was going to be the year the bottom fell out-and things would get back to realistic. Guess I was wrong.
Weird that a 10th anniversary one would sell for more than a 69 T/A hardtop.
You can call one bid one car a trend. It was well documented on the show that there were two people with big egos and deep pockets that run up a bid to stupid amount of money. The car right before this one was a ’78 Black Bird Trans Am that was in amazing shape. $75,000.
Anyone who thinks that Barrett-Jackson is the price defining for everyone needs a reality check. It is a show where we see rich people paying too much for a car they won’t drive.
Market value can’t be established by anomalies. The “charity” cars should also be ignored. This was a “no mile original” that was also a desireable combo. Your average condition example of this car won’t be rising in value let alone doubling. There will always be a market for very low mile unmolested cars. What kind of money they bring depends on the promotion and venue.
Well, hell. I have an original ’80 TA in my garage in mid-rebuild(some assembly required). I’d sell it for $15K is that is what the market now brings. Unbelievable.
There was a Farmall H tractor with less than 500 hours that recently brought 41,000 at an auction in Iowa. A good H is maybe…maybe 2k. However this low hour unit had two deep pocket bidders enamored with its well documented story and the bidding war ensued. Like this tractor, buyers and sellers need to judge these Firebird for what they are-anomalies-ar least we hope they would.
Just to follow up on Donny Chop’s comment, In the early 2000’s my ex wife and I stopped by their shop so I could get a golf shirt. Young sales guy overhears us talking to the girls out front and offers to take Karen and I through the shop while the girls look for stuff. I got to see unobtainium toys, Hitler’s 6 wheel drive Mercedes, FE Fords that made me weak in the knees, you get the drift. Then some shortass manager type comes into the huge garage, yells at the kid what the hell is he doing without once looking at Karen and I, basically proceeds to throw us out. As we enter the office the girls had put a nice display of shirts out for us to look at, just told them where to stuff it and left. So yes, if you’re not some idiot with erectile dysfunction and a huge 401K or a ginourmous inheritance you’re lower than the stuff stuck to your shoes. Since that day I’ve patiently waited for barrett ripoff to have to close. Revenge is best served cold……..
I have an awesome 1978 Rally Sport Camaro highlighted on this very website with some solid upgrades for $7000. I agree the whole BJ thing cause lots of problems for enthusiasts. Now every body with a clapped out Disco era F body thinks its gold If this car fetched $180,000 then the clapped out rusted hulk on cinder blocks is worth minimum $95,000 to $100,000 right? BJ did the same with classic VW’s. Price a junky rusted out pre 67 VW bus lately?
The last true Pontiac, 79 was when the spirit of Pontiac died.
I can see the original Bandit bringing what it did due to it being the actual car with Burt Reynolds and all that, but this one is madness. But now I’m interested in how much that perfectly preserved IROC-Z from YouTube would bring. But I was interested in how much all the Pro Touring “Resto Mod” (sorry) stuff was bringing vs. frame off restored musclecars. Turns out building a car you want to drive instead of an all original museum quality car might be the way to go. I like that.
Yet there were still some decent deals on cars there, earlier in the week mostly.
I don’t think a 79 TransAm tenth anni is that special just because of the zero miles. Lots of those got put away when new, same deal with Corvette silver anni, Buick GNX, SVO Mustangs and before those the “last” convertibles 73 Mustangs and 76 Eldorados.
The “original Bandit” was sold there a couple years ago by Burt, the one this year was simply displayed at promo events and had much less connection with the movie.
Kind of the like the “real” General Lee Charger, they went though hundreds on the show, many scrapped ones could be brought back to life and claimed as real.
I think the next hot trending cars will be the mid/later 80s cars
seems the 60s/70s cars are now just so insanely out of price for the average guy
some people have some serious $ that’s for sure
i remember buying my 79 TA back in 91. $2k got you a pretty decent running car
you look now-a-days, and people want 10K+ for rust buckets
It’s a beauty but thats waaaaaaaaaay to much money…now every trans am is going to double in price….douches…..
Uh…no…
“every mullet-festooned weirdo with a 77-81 Firebird on cinder blocks on their front lawn now thinks their car is worth tens of thousands of dollars”…
I resemble that remark.
Why is this a shock to anyone??????
For a good 20 years the late 60-early 70’s cars have brought stupid money, it was only a matter of time before the late 70’s early 80’s cars moved into this.
Is it silly, yes, but This is the only way we will get the aftermarket resto venders to move past the 64-74 cars, and really tool up on the later stuff..
I think it sucks, And no, not that it sold for 187k, more power to the seller, but That this car and many like it, never were enjoyed on the open road, and now it’s tires will only touch the ground when moved.. But we need cars like this, or owners will always be hunting overpriced used junk,
did that 1979 pontiac com a diller ship corydon ind