Crazy Money Turning ‘70s Pontiac Trans Ams Into $100,000 Cars

Let’s say you’re a fan of the second-generation Pontiac Trans Am, that dying ember of the ‘60s muscle-car that made up for what it lacked in horsepower with “screaming chicken” graphics and “Smokey and the Bandit” fame. You can buy a clean, well-cared for example for roughly $10,000—or at least you could until Pontiac owners see this week’s sales results from the Barrett-Jackson auction in Arizona, where Trans Ams have suddenly, puzzlingly, soared to record high prices.

Trans-Ams aren’t rare; Pontiac built 117,108 in 1979 alone, and in the era of smog-controlled V-8s, the fastest factory car of the era would lose a drag race to a Toyota Camry V-6 today with daylight to spare. But car collectors can be driven by nostalgia as much as common sense; classic car insurer Hagerty says there’s been a rising tide for ‘70s and early ‘80s muscle cars of all varieties.

“Muscle cars are well positioned to outpace the market in 2016, especially those cars that have a younger appeal and weren’t on collectors’ watch lists during the muscle car correction of the mid-2000s,” the firm says.

Even in that light, some of the sales at Barrett-Jackson have been surprisingly strong. This 1977 unrestored model with 30,600 miles and the original 8-track tape player brought $33,500, in a range with several other well-cared-for but otherwise unremarkable models.