What’s Happening to the Pre-’48 Hot Rod Market?

I’ve been watching the pre-’48 hot rod market pretty closely lately, and I’ll be honest: some of what I’m seeing is alarming.

Cars that I remember being solid $30,000–$45,000 hot rods aren’t necessarily bringing that kind of money anymore. I’m talking about good, middle-of-the-road ’35–’48 Fords—the type of cars that have been the backbone of this hobby for decades.

Today, I’m seeing cars all over Facebook Marketplace in the $20,000–$30,000 range. Model A prices seem to have taken an even bigger hit. There are complete, running Model A hot rods popping up in the $10,000–$15,000 range that would have cost considerably more not that many years ago.

As someone who owns these cars, I’m not exactly excited about it. When you’ve spent years buying, building and improving old cars, nobody likes watching the value of that investment diminish.

But I don’t think the story is quite as simple as “old hot rods aren’t worth anything anymore.”

The Right Cars Are Still Bringing Money

There’s one thing I keep noticing: really well-built, intentional cars still seem to find buyers.

By intentional, I mean a car that makes sense from bumper to bumper.

The stance is right. The wheels and tires are right. The drivetrain fits the theme. The suspension makes sense. The interior complements the exterior. The engine compartment, undercarriage, paint and details all tell the same story.

Those cars are different.

Where I see the biggest struggle is with what I’d call the “hodgepodge” builds.

Maybe the exterior looks like a polished street rod, but underneath it has a dropped axle, flathead and three-speed. Or it’s the opposite—a car that looks completely traditional from the outside, but underneath you find independent suspension and a small-block Chevy.

There’s absolutely nothing wrong with building a car that way if that’s what you like. Hot rodding has always been about building the car YOU want.

But when it comes time to sell, I think those cars are having a harder time finding their buyer.

Today’s buyer seems to want a car with an identity.

Traditional Hot Rods Aren’t Dead

This is where I actually see some hope.

There’s been a resurgence in traditional hot rods, and I think younger enthusiasts are a big part of it. There’s a generation coming into the hobby that wants to experience the cars their parents and grandparents saw in the ’40s, ’50s and ’60s.

They want bias-ply tires, dropped axles, flatheads, early overheads, tuck-and-roll interiors, chopped tops and cars that look like they could have rolled into a drive-in 70 years ago.

That part of the hobby feels alive.

The custom scene is another area that seems incredibly strong. Traditional customs and the lowrider world are crossing paths more and more, and I think that blending of cultures is bringing new energy into both scenes.

Maybe the market isn’t disappearing.

Maybe it’s becoming more selective.

If You’re Buying, This Could Be Your Moment

If you’ve been waiting to buy an old car, I think this is one of the most interesting buyer’s markets we’ve seen in a long time.

There are a LOT of cars for sale.

And in many cases, sellers are motivated.

That puts the buyer in a position we haven’t always had in this hobby. You can be patient. You can negotiate. You can walk away. And you can potentially buy a really cool car for a fraction of what it would cost to reproduce that same car today.

But there’s a catch.

Buy the right car.

Cheap doesn’t automatically mean good.

If I were buying right now, I’d look for something timeless. I’d want a car that was thoughtfully built, has a clear identity and doesn’t need $20,000 worth of changes to make it into the car I actually wanted.

Because while you might be able to buy an older hot rod cheaply right now, building one from scratch certainly hasn’t gotten cheaper.

This Is Just One Guy’s Opinion

I want to be clear: this is 100% my opinion based on what I’m seeing.

You might completely disagree with me—and you might be right.

Markets change. Different regions bring different money. Certain builders, body styles and cars with history will always be exceptions. Auction results can tell a completely different story from Facebook Marketplace.

But after being around these cars and this hobby for a long time, I definitely feel something changing.

And I think it’s a conversation worth having.

Which Brings Me to Another Problem…

There’s another side of this market that I think we need to talk about.

Sadly, many of the people who were there when we started Hot Rod Coalition are getting older, and we’ve lost a number of friends along the way.

When someone passes away, their family is sometimes left with a garage full of cars and parts they know very little about.

If the family doesn’t want to keep the cars, what do they do?

Where do you sell a traditional hot rod? A custom? A street rod? A collection of parts?

Facebook Marketplace can work, but anyone who has tried selling an old car there knows what comes with it: tire kickers, ridiculous offers, endless messages and people asking, “Is this still available?” who are never heard from again.

So what are the alternatives?

Bring a Trailer? Hemmings? Cars & Bids? An auction house? A consignment dealer? Facebook? Word of mouth? Something else entirely?

And more importantly, which one is right for YOUR car?

I think that deserves an article of its own.

We’ll talk about that next time.

— Anthony Granata
Hot Rod Coalition