With post-covid market turmoil continuing into 2023, record inflation all around the globe, and climate activists shunning anything with a gas tank, you’d be forgiven for thinking it’s all doom and gloom in our beloved classic car market.
But it’s not the doomsday scenario that many would have you believe… if you pick the right car and stick to your guns for the long-term.
While the short-term market may be volatile, there are still plenty of opportunities to invest in a classic car that will appreciate in 2023.
In this blog post, we’ll take a closer look at a handful of cars that are likely to appreciate this year and explore the reasons why.
Whether you’re a car collector, a car enthusiast, or simply looking to make a smart investment, read on to discover which cars will are worth your hard-earned cash in 2023.
Chevrolet Corvette C5
The Chevrolet Corvette is a car that has captured the hearts of car enthusiasts for decades, and the C5 generation is no exception.
It’s a true American icon and is widely considered to be one of the best sports cars ever made. And if you’re lucky enough to own one, you’ll be pleased to know that the value of the C5 is on the rise, albeit slowly up until now.
The C5 was introduced in 1997 as a completely redesigned fifth-generation Corvette. It was a major departure from its predecessor, the C4, with an all-new frame, suspension, and body design.
It featured a new LS1 V8 engine, which produced 345 horsepower and 350 lb-ft of torque. This engine was mated to a six-speed manual transmission or an optional four-speed automatic. The desirable Z06 version, released in 2001, was fitted with a LS6 V8, and would eventually produce over 400 horsepower.
The C5 was also the first Corvette to feature a hydroformed frame, which made the car stiffer and more aerodynamic.
It was an instant hit with car enthusiasts, who praised its handling, power, and overall driving experience. Thanks to its comfort and practicality, it was a great option for both weekend track days and the daily commute.
Since 2021, values of the C5 have begun to creep up, and we predict that this trend will continue to pick up speed throughout 2023. The C5 is a desirable car for many reasons, but one of the main reasons is its driving experience.
It can be classed as a true driver’s car, with a powerful engine and a responsive chassis that makes it a blast to drive, whatever the conditions. It’s also a relatively affordable car compared to other sports cars of its caliber, which makes it an excellent value for car enthusiasts on a budget.
The Chevrolet Corvette C5 is a car that will always be remembered as a true American classic. With values on the rise, 2023 could be the perfect time to invest in one.
Mitsubishi 3000 GT
The Mitsubishi 3000GT is a car that has been overlooked by many car enthusiasts, but it’s a car that’s starting to gain some well-deserved attention.
It was a true hidden gem for too long, and is widely considered to be one of the best sports cars of its era. In recent years its true potential has been realized, and values have begun to increase.
The 3000GT was introduced in 1991 as a high-performance sports car from Mitsubishi. It was designed to take on the likes of the Toyota Supra, the Nissan 300ZX, and the Mazda RX-7.
It was praised for its handling, power, and overall driving experience. And of course, its unique styling was a departure from the traditional Japanese sports cars of the era.
It’s a desirable car for many reasons, but the driving experience is possibly its best-known asset.
The 3000GT is a true driver’s car, with a powerful engine and a responsive chassis that makes it a blast to drive. And despite a recent increase in value, it still represents an affordable way to enter the already inflated ’90s Japanese sports car market.
Its value trend demonstrates a steady increase in value over the past few years, with a significant jump in value from 2021 to 2022. The value has continued to climb in early 2023, indicating increasing demand for this high-performance Japanese sports car.
Porsche 911 Turbo 996
The 911 996 Turbo was introduced in 1999 as a high-performance variant of the 911. It featured a 3.6-liter flat-six engine that produced 414 horsepower and 415 lb-ft of torque.
It was available with a six-speed manual transmission or a five-speed Tiptronic automatic. Additionally, the 911 Turbo featured an all-wheel drive system, which provided excellent traction and handling.
The car was also equipped with state-of-the-art aerodynamics, including active aerodynamics and rear wing that would automatically adjust to provide optimal downforce.
In 2005, Porsche also introduced the 911 Turbo S, which featured a more powerful engine, larger brakes, and other performance upgrades.
The 996 hasn’t always been a favorite with 911 afficionados, but in recent years values have started to rise as its bargain price tag has become more appealing. And in our opinion, that was bound to happen sooner or later.
Regardless of the 996’s initial reception, it’s a piece of automotive history. The combination of power, handling, and the legendary 911 brand makes it a desirable car for many reasons.
If you’re an enthusiast looking for an affordable 911 Turbo, the 996 remains one of the best ways to own the iconic sports car. And we believe that values will only continue going one way in 2023 – up!
The 996 Turbo value trend shows a relatively stable market for this high-performance sports car, with a modest increase in value from 2019 to 2021. It appears to have started a steeper climb in 2022 and into early 2023, indicating an increasing demand for this well-regarded 911.
Jeep Cherokee (XJ)
The Jeep Cherokee is a classic SUV that has been a favorite among off-road enthusiasts for decades. With its rugged design, powerful engine, and impressive off-road capabilities, the Cherokee is a car that truly stands the test of time.
The XJ model was introduced in 1983 as a compact SUV and it was produced all the way through until 2001. It featured a range of different engines, from the base 2.1L diesel to the range-topping 4-liter gasoline inline-six.
Both two-wheel drive and four-wheel drive options were available, and it was fitted with either a five-speed manual transmission or a three-speed or four-speed automatic.
The XJ was praised for its off-road capabilities, thanks to its rigid axles, coil spring suspension, and high ground clearance. It was also praised for its unique styling, which made it stand out from other SUVs of the era.
One of the biggest benefits of the Cherokee is that it’s considered a very reliable and durable vehicle, making it a great choice for those who want to daily-drive a highly practical classic car.
The Jeep Grand Cherokee (XJ) is a car that has been a favorite among off-road enthusiasts for decades, and it’s a car that’s starting to gain some well-deserved attention.
The Jeep Cherokee’s value trend demonstrates a relatively stable market for this classic SUV, with a modest increase in value from 2020 to 2022. The value appears to have continued to climb in early 2023, showing sustained demand for this versatile and well-regarded vehicle among collectors and off-road enthusiasts.
From classic off-roaders to exotic Italian supercars, this list has it all. The Lamborghini Diablo was introduced in 1990 as a successor to the Countach, and it was produced until 2001.
It featured a 5.7-liter V12 engine that produced 492 horsepower and 428 lb-ft of torque. The Diablo was available with a five-speed manual transmission or a four-speed automatic.
Not only that, but the Diablo had a top speed of over 200 mph. While that may be impressive today, it was even more impressive in the early 1990s, and was one of only a handful of production cars to have the capability.
In typical Lamborghini fashion, its styling was bold and aggressive. It featured scissor doors, a low-slung profile, and large air intakes that provided the engine with more than enough cooling.
The Diablo was the last Lamborghini to be seen by legendary founder Ferruccio Lamborghini before his death in 1993, and would pave the way for the Volkswagen Group’s takeover of the company in 1998.
As with any high-end supercar, values can experience a great deal of volitility. Its value trend demonstrates a significant decrease in value from 2019 to 2020, likely due to market conditions at the time.
However, the Diablo’s value has since rebounded, with a steady increase in value from 2020 to 2022 and a significant jump in value in early 2023. This indicates a renewed interest in this iconic supercar and a strong appreciation for its unique design and performance.
If you’re looking for a highly collectible piece of automotive history, the Diablo makes for an excellent addition to any private car collection, But of course, you’ll need extremely deep pockets to get your hands on one!
Audi RS6 (C5)
The Audi RS6 (C5) is a high-performance luxury sedan that was first introduced in 2002, and is considered by many to be one of the best sports sedans of its time.
The C5 RS6 is powered by a 4.2-liter V8 engine that produces a whopping 450 horsepower and 415 lb-ft of torque. This engine is paired with a six-speed Tiptronic transmission and a Quattro all-wheel drive system, allowing the car to go from 0 to 60 mph in just 4.5 seconds.
One of the reasons why the C5 RS6 is considered a good investment is its rarity. Audi only produced around 8000 of these cars, making them increasingly sought after by collectors and enthusiasts in today’s market.
Another reason the C5 RS6 makes for a good investment is its versatility. It’s not only a high-performance sports sedan, but also a comfortable and practical daily driver. The car features a spacious cabin with leather seats, a premium sound system, and a variety of advanced safety features. Its all-wheel drive system and advanced suspension also make it a capable performer in any weather conditions.
Its value trend shows a relatively stable market in recent years, with a modest increase in value from 2020 to 2022. The value appears to have dipped slightly in early 2023, but this is likely to be a temporary fluctuation rather than a significant trend.
Overall, the RS6 C5’s value remains strong and indicates a continued appreciation for this unique and powerful vehicle.
The Audi C5 RS6 is a car that offers a unique blend of performance, luxury, and practicality. Its rarity, timeless design, and strong resale value make it a great investment for car enthusiasts and collectors. With its powerful V8 engine, advanced suspension, and Quattro all-wheel drive system, the C5 RS6 is a true driver’s car that will provide an unforgettable driving experience.
Nissan Skyline GT-R R32
The Nissan Skyline R32 is a true legend in the world of sports cars. Produced from 1989 to 1994, the R32 was the first Skyline to be officially imported into the United States, and its popularity has only grown since then.
What makes the R32 Skyline such a great investment opportunity in 2023? For starters, it’s a true performance icon. With its advanced all-wheel-drive system, powerful turbocharged engine, and sharp handling, the R32 Skyline is a joy to drive on both the street and the track.
Furthermore, the R32 Skyline has a rich history and a loyal following among enthusiasts. Its success in racing, particularly in Group A touring car racing, has cemented its status as one of the all-time greats in Japanese sports car history. The R32 Skyline also gained international fame thanks to its appearances in popular video games, such as the Gran Turismo and Need for Speed series.
While it was once overlooked by collectors, the R32 has become increasingly rare in recent years as many were exported to countries where they were not originally sold. As a result, finding a well-maintained R32 Skyline in good condition can be quite difficult, which only adds to its desirability and value.
The Nissan Skyline R32’s value trend shows a strong increase in value over the past few years, with a significant jump in value from 2019 to 2020. While the value appears to have dipped slightly between 2020 and 2021, the R32’s value rose again from 2021 to 2022 and continued to climb in early 2023.
This demonstrates a strong demand for this highly sought-after Japanese sports car among collectors and enthusiasts.
The Skyline is an icon of Japanese sports car history with a loyal following and a rich racing pedigree. Its advanced all-wheel-drive system, powerful turbocharged engine, and rarity make it a great investment opportunity in 2023.
Toyota MR2 Mk1 (W10)
The Toyota MR2 Mk1 is a gem of a car. It’s hard to believe that this pocket rocket was first introduced over three decades ago. The MR2 was Toyota’s answer to the mid-engine sports car market, and boy did they hit it out of the park.
So, why would the Toyota MR2 Mk1 make a good investment in 2023? For starters, it’s becoming increasingly rare to find one in good condition. Back in the day, the MR2 was a popular choice for track day enthusiasts and petrolheads alike. But, as with most sports cars, many fell victim to neglect, modifications, or even accidents.
However, the MR2 Mk1s that have survived the test of time are now highly sought after by collectors and enthusiasts alike. The car’s unique and timeless design, coupled with its nimble handling and spirited performance, make it a fan-favorite to this day.
What’s more, the Toyota MR2 Mk1 has a cult following that only seems to be growing stronger as the years go by. Enthusiast clubs and online communities dedicated to this iconic car are popping up all over the world. This means that demand for the MR2 Mk1 is likely to continue to rise, driving up prices in the process.
Another factor that makes the Toyota MR2 Mk1 a good investment in 2023 is its relative affordability compared to other mid-engine sports cars of its era.
While prices for iconic European sports cars like the Porsche 911 have skyrocketed in recent years, the Japanese MR2 Mk1 remains relatively affordable. There’s still plenty of room for its value to appreciate in the coming years, making it an attractive proposition for investors.
The MR2’s value trend demonstrates a consistent and steady rise in value over the past few years, with a particularly significant increase from 2021 to 2022. The value of the MR2 appears to have continued to rise in early 2023, revealing a continuing strong demand.
BMW E46 M3
The BMW E46 M3, an icon of the early 2000s. The E46 M3 is the third generation of BMW’s M3 sports car and was produced between 2000 and 2006. This car is often hailed as one of the best sports cars of its time, and it’s not hard to see why.
First off, the BMW E46 M3 is an absolute joy to drive. The car’s 3.2-liter straight-six engine produces 343 horsepower and 262 lb-ft of torque, allowing it to accelerate from 0 to 60 mph in just 4.8 seconds. The car’s handling is also top-notch, with precise and nimble steering that makes it a blast to drive on twisty roads or even on the track.
Another reason why the BMW E46 M3 is a good investment is its unique features. For starters, it was one of the first cars to feature BMW’s SMG (Sequential Manual Gearbox) transmission, which allows for lightning-fast gear changes using paddle shifters. However, the manual version does remain the most popular with investors.
The E46 M3 also came with a limited-slip differential as standard, which improves the car’s handling and performance even further.
While BMW produced over 85,000 E46 M3s during its six-year production run, many have been lost to time or modified beyond recognition. Finding a clean, unmodified E46 M3 in good condition is becoming increasingly difficult, which only adds to the car’s collectibility.
Finally, the BMW E46 M3 has a devoted following of enthusiasts who love the car’s performance, handling, and unique features. Enthusiast communities dedicated to the E46 M3 are thriving, with owners sharing information, tips, and advice on how to get the most out of their cars.
The BMW E46’s value trend shows a steady increase over the past few years, with a significant jump in value from 2021 to 2022. While the value appears to have leveled off in early 2023, we predict the overall upward trend to continue well into the future.
Audi B7 RS4
There’s no doubting that the Audi B7 RS4 is a brilliant sports sedan. Produced between 2006 and 2008, the B7 RS4 was Audi’s third generation of RS4, and it’s often hailed as one of the best sports sedans ever produced.
One of the most impressive aspects of the B7 RS4 is its raw power. This car boasts a 4.2-liter naturally aspirated V8 engine that delivers a whopping 414 horsepower and 317 lb-ft of torque. With its all-wheel-drive system and responsive steering, the B7 RS4 provides an exhilarating driving experience that’s hard to match.
The B7 RS4 is also a car that’s packed with unique and impressive features. For example, the B7 RS4 was one of the first production cars to feature dynamic ride control, which uses hydraulic dampers to reduce body roll and improve handling.
The car also features a six-speed manual transmission as standard, which is a rarity among modern sports sedans.
Additionally, the B7 RS4’s rarity and performance make it a highly desirable car among collectors and enthusiasts. The limited production numbers, combined with the car’s impressive speed and handling, have led to the RS4 retaining a strong demand in the market.
Values have remained fairly flat for the last few years, but we predict that the B7 RS4 will start its upward trajectory in 2023.
As we’ve seen, there are several classic cars that are likely to appreciate in value in 2023. From the Toyota MR2 Mk1 to the Audi B7 RS4, these vehicles offer a combination of unique features, rarity, and performance that make them desirable among collectors and enthusiasts.
Whether you’re a seasoned investor or simply looking for a fun and potentially profitable hobby, investing in classic cars can be a rewarding experience.
By considering factors like production volumes, rarity, and current market trends, you can identify the cars that are likely to increase in value over time and make a smart investment.
Sign up to The Car Investor Newsletter and we’ll continue to keep you updated on all the latest classic car trends.