Car Spotting: Winter 2020/2021 Edition

February 28, 2021 RichardReina Cars on the street Ford Mustang, Mercury Comet, VW

Just because a global pandemic has shut down almost all our car hobby-related group activities doesn’t mean that car owners aren’t taking their prized possessions out for solo spins. Shutdown or not, while many of us (your humble author included) salt away the collector machines every winter, there are many others who continue to pilot their cars during the colder months, as long as the roads are dry and the skies are clear.

Below are snaps of a few of the older vehicles I’ve spotted out and about these last few months, at least before the Northeast snows descended upon us. One car was spotted in a hardware store parking lot; another was dropping off an offspring at a sporting event; and a few were seen in the relatively balmy climate of Cape May NJ. In all cases, the vehicles were either moving under their own power or were legally parked, with license plates attached – these were not project-cars-in-waiting.

1965 MERCURY COMET

This 2-door hardtop was in the parking lot of my local Home Depot on a Sunday afternoon. While far from a show car (note the heavily worn paint on hood and roof), it’s obviously owned by an enthusiast, based on the wheels and the license plate. I trust that his planned hardware purchase will fit in the trunk or back seat. This is what you drive to the store when the ’49 woodie wagon is in the shop.

‘60s VW KARMANN GHIA

An end-of-year visit to Cape May rewarded me with a VW two-fer. This Karmann Ghia was parked downtown and gave the impression that it had recently been driven. While the paint was dull and the bumpers were rusty, there were no body issues from corrosion or collision, and with bumper overriders, wheel covers, lights, mirror, and antenna all accounted for, this Ghia was reasonably complete! Make special note of the undented NOSE. It fit the casual funky vibe of Cape May perfectly.

‘60s VW BUG

A few miles away from downtown Cape May is a United States Coast Guard Receiving Station, complete with barracks. Parked in front of one of the housing units was this Bug, with Texas plates if I recall correctly. The driver’s side running board was missing, and the bumpers didn’t look original, but like the Ghia, it looked like you could hop in it and take it for a day-long ride if you so desired. Was it driven up from Texas? I for one would not wager that it didn’t make its way up here in that manner.

1966 FORD MUSTANG

This Mustang was parked at my local gas station. The paint looked recent, and aside from what appear to be incorrect wheel covers, it looked bone stock. Maybe it had been dropped off for some service work. I think that these first-generation hardtops have aged well, and compared to the more expensive Mustang convertibles and fastbacks, continue to be affordable collector cars that make for an ideal way to enter the hobby.

‘70s VW TRANSPORTER

I’m no VW expert, but I believe that this vehicle is a 2^nd-generation Transporter (T2), produced from 1968 to 1979 (and if I’m wrong, the Vee-Dub air-cooled authorities will be sure to respond). I spotted this “bus” in the parking lot of a local playing field, as a parent was dropping off a child for sports practice. What a cool way to get shuttled to soccer! This one must be a camper; note the pop-up roof and the duct vent just aft of the driver’s door. It’s also wearing the ultimate VW bus accessory, a peace sign decal.

Three of the five vehicles I spotted were air-cooled Volkswagens. Are these cars, which lack liquid cooling systems, the ultimate winter collector car because they can’t freeze? What if you need heat inside? They’re notorious for lacking good interior heating systems (my dad’s ’57 Bug had no heater installed, and he kept blankets inside it for passengers). Perhaps it’s coincidence to see three of the same make, but it’s still a treat to stumble across the occasional old car on the road, especially in a season that has been devoid of normal car shows.

All photographs copyright © 2021 Richard A. Reina. Photos may not be copied or reproduced without express written permission.

You Can’t Predict the Future

May 24, 2020 RichardReina Current events Cars of Particular Interest, collector car values, Ford Mustang, Mustang California Special, Sports Car Market magazine

In the latest edition (June 2020) of Sports Car Market (SCM) magazine, a reader wrote a letter to the Editor, requesting an explanation of the so-called “frequent flier” phenomenon (referring to the same vehicle appearing at multiple auctions over a short period of time). I will quote part of his letter:

“… often in the auction reviews, you note a car has been at or across the auction block three or five times in four or six years. Is there a story here? ….Is there a certain type of car which attracts this ‘flipping’ activity?’ …. Is there a certain type of buyer/seller involved in this? The easy answer is ‘speculators hoping to make a quick buck’…..”

I think that SCM dodged providing a real answer when they responded: “There is indeed a certain type of seller – we suspect possessing a world-class stubbornness – who trucks a car to several auctions in a short period of time. … (these) cars mostly have an impact on the bank account of the present owner….”

Whether the individual who posed the question intended this or not, the answer presumes that the ‘frequent flier’ vehicle never gets sold, so the same owner incurs transportation costs, auction fees, and the like. From my own observations of the auction market, the reality is different. Many frequent fliers DO get sold, chalking up multiple new owners over the short haul.

The obvious next question is: did the seller make a profit? Here’s the crux of the issue. Why would any owner of a special-interest vehicle consider selling it within the first year or two of ownership? While there could be any number of reasons (needs the money/found something else/didn’t meet expectations), was the car principally purchased as an investment?

The subheading on each month’s cover of SCM is “The Insider’s Guide to Collecting, Investing, Values, and Trends”. I’ve been a subscriber since 1997. I enjoy the magazine. It’s always done a great job of reporting auction results worldwide, in a timely fashion for a print periodical. What SCM cannot do, and no one can, is predict the future. This is not a knock on the magazine. A vehicle, or a class of make and model vehicles, rises in value faster than the overall market for a multitude of reasons. Many of these reasons have no basis in rationality. Several of my car buddies agree with me that the #1 rule is to buy what you like, enjoy it, and don’t worry too much about values. Yet it’s always interesting to speculate what would have happened if I bought X instead of Y.

Late in 2003, I bought a 1968 Mustang ‘California Special’ aka GT/CS. At that time, average selling prices for cars with the small block 289/302 V8 were around $15,000. There was a 20% premium for the ‘S’ code (4 barrel carb) big-block 390. I found a car for sale with the ‘X’ code 2-barrel 390, and paid $16,000, which I thought was a fair price, not a steal, but perhaps slightly under market. I liked that Mustang a lot, drove it to many shows and events, and sold it nine years later. The irony is, I had been considering some vehicles other than the Mustang, including an older 911, but it wasn’t so serious that I actually sought out or test drove one.

Why hadn’t someone told me 911 values were going to go through the roof? Is it because no one knew?

I subscribe to, and keep old copies of, the price guide known as Cars of Particular Interest (CPI). The book publishes retail values for cars in excellent (#2), good (#3) and fair (#4) value. I decided to have some fun with this by going back to the January 2004 edition and looking up 10 cars of interest to me whose #3 value was very close to my Mustang’s purchase price. (That copy of CPI had my Mustang at $18,600 for a #3 car.) I then compared those numbers to their 2020 CPI values, and calculated the percentage increase (none lost value). The chart is arranged in order of value increase from smallest to largest.

YEAR	MAKE	MODEL	Value 2004	Value 2020	CHANGE
1970	Plymouth	Barracuda 340 coupe	$15,525	$26,000	167%
1963	Studebaker	Avanti R2	$15,600	$28,000	179%
1968	Oldsmobile	4-4-2 convertible	$13,750	$27,000	196%
1971	Alfa Romeo	Montreal	$13,100	$42,000	321%
1969	Jaguar	E-Type Ser. II coupe	$14,500	$55,000	379%
1968	Mercury	Cougar GT-E 427	$13,000	$53,000	408%
1967	Mercedes-Benz	230SL roadster	$14,900	$61,000	409%
1963	Porsche	356 S90 coupe	$14,750	$62,000	420%
1961	Lincoln	Continental 4-dr conv.	$11,500	$56,000	487%
1969	Porsche	911 S coupe	$11,500	$83,000	722%

Again, we’ve kept things apples-to-apples by using CPI and by using #3 condition values. I’ll make the following observations:

It surprised me to see that the 3 cars with the smallest value changes are all domestic. None of those cars are performance slouches, and given the general trend that “muscle sells”, I expected higher numbers.
The other two domestic cars posted extraordinary results. The big-block Cougar rose over 400%, and the Continental disproves the adage that 4-door cars aren’t collectible.
The value of the Montreal seems artificially low to me, and I say that only as an Alfa owner who follows the market. However, the Jag value looks spot-on for a Series II coupe.
The two ‘ringers’ are the Porsches. Note that in 2004, the 356 was actually valued higher than the 911S! And in 2004 dollars, the 911 is the lowest-value car here, tied with the Continental.

What does all this mean? Nothing. (Like Seinfeld.) Seriously, it means that no one saw any of this coming. Looking at this with hindsight, do I have a twinge of regret? Ever so slightly, but not really. The Cougar is the same year as my Mustang, but would not have looked as unique as my car. I adore E-Types, and perhaps missed the boat my not snagging one when I could have. But making those statements does not take in the complete picture:

When I bought the GT/CS, it was in Maryland, about 3 hours away. I felt lucky finding one within a day’s round trip drive. Who knows where I would have found any of these other cars?
The Mustang was comparatively easy to work on, and I did most of my own maintenance and repair work.
Wrenching on a Jag or Porsche of any flavor means exponentially higher parts prices, and greater levels of complexity.
The Cal Special was very reliable. I drove it to Nashville, and on two complete New England 1000 rallies. Who is to say that any of these others would have been equally reliable?
There was something very special about the uniqueness of my GT/CS. To recap, that model was never officially sold east of the Mississippi by Ford, so very few of them are on the East Coast. Many people who saw it, even seasoned car show veterans, didn’t know that such a model existed. It was an exciting conversation piece.
I sold my GT/CS in 2012 for $20,000. You think I made a profit? Adding up insurance, routine maintenance, and repairs, it’s closer to the truth to say I broke even. But I had nine years to enjoy the hobby in it, and there’s no telling what kind of experiences any of these other vehicles could have delivered. So no regrets at all.

My GT/CS, the only domestic in sight, at the 2007 New England 1000 rally

Can anyone predict which collector cars of today will show value increases of 400% over the next 15 years? It’s fun to talk about, but I won’t be using real money to place any wagers. I’d rather get out there and drive.

Driving the GT/CS to Nashville for the Mustang’s 40th Anniversary

March 5, 2017 RichardReina Car shows, Drives, Events, Family cars California Special, Ford Mustang, GT/CS, MCA, Mustang 40th anniversary, Nashville

With the recently-acquired Mustang in the garage for the winter of 2003-2004, I set out to do three things in preparation for the 2004 driving season: join the local Mustang club, subscribe to Mustang Monthly magazine, and obtain as many vendor parts catalogs as possible.

The N.J.-based club was the GSRMC (Garden State Region Mustang Club), and soon after joining, its President invited me to submit an article about my car, as we both surmised it was the only GT/CS in the club.

Prior exposure at events like Carlisle had shown that (especially compared to Isetta vendors) there were dozens of Mustang parts suppliers, so any needed part should be only a phone call or mouse click away. I was soon to learn otherwise.

As weather allowed, I would slip into the garage to perform some preventative maintenance: tune-up, oil change, coolant hoses & clamps, etc. Removing the air cleaner lead to the discovery, missed by me and unmentioned by previous owner Tony, that the heater hoses were disconnected from the heater core at the firewall. Against my better judgment, I reconnected them, filled the system, started it up, and ran the heater. All was dry, so I let it be.

As I placed orders for my Mustang-specific parts, I sampled various vendors, including Mustangs Unlimited, CJ Pony Parts, Virginia Classic Mustang, and NPD. Two truths became apparent: first, the quality of aftermarket parts varied widely, and was not always good, to the point that substandard parts were returned; and second, the idea that any part could be found at any vendor was hindered by my engine.

The “X code” 390 2-barrel FE-block was so rare that most Mustang suppliers did not carry parts for it. (Some catalogs, and some otherwise-well-written tomes on the Mustang did not even acknowledge that Ford used this engine in Mustangs!) Out of 317,000 1968 Mustangs, the X-code engine was put into 476 of them (2/10ths of 1%). Among California Specials, 75, or about 2%, used it. Either way, that makes for one rare engine.

The vast majority of its parts are shared with the S-code 390 “GT” 4-barrel engine. The differences are all on top: intake manifold, carb, air cleaner, emission controls, and various connecting parts. For my needs, I was stymied at obtaining vacuum hose connection parts, and a replacement for the missing air cleaner snorkel. (Much later, I found that the snorkel was not being reproduced, and was available used for about $900. I didn’t buy it.)

Early in 2004, the Mustang Club of America (MCA) announced that it would be hosting a 40^th anniversary celebration for the Mustang in April, with the event to be held at Nashville Speedway in Tennessee. (The Ford Mustang debuted at the New York World’s Fair in April 1964.) Checking with the GSRMC, there seemed to be lukewarm interest in attending. However, the New England Mustang Club was organizing a caravan, stopping at various points to pick up participants, and they would be stopping at CJ Pony Parts in Harrisburg PA. My wife was willing, so we signed up.

**Portfolio cover for 40th anniversary show**

On a rainy April day, we headed out to Harrisburg. The group, at this point about a dozen strong, showed up a short time later. The New England crowd was friendly, and warmly welcomed us. (They promised a “wicked good” journey.) It was nice to have some company on the trip south. The Mustangs consisted primarily of first-generation cars and Fox bodies. Most were driven; several were trailered. As we traveled, other Mustangs joined, and soon there were close to 20 cars. The group was informed that our destination for the night was Harrisonburg VA, and that we would be in Nashville by the afternoon of the second day. The weather remained cool and damp, but we were comforted by fairly good heat output in our car.

That is, until my wife said something about green fluid leaking from the dash near her feet.

We pulled over, and several other drivers also stopped in solidarity. Fortunately, the coolant loss was small enough that the temp gauge stayed in the Normal range. With assistance from several helping hands, we routed the heater hoses in a “U”, bypassing the core. The leak stopped, but we had no heat. Within a few hours, grey skies gave way to sunshine, and a significant jump in the thermometer. By the time we reached Nashville, temps were in the 80s.

**MCA 40th anniversary show field, Nashville TN**

**Show revelers happily tailgate on the gravel**

My GT/CS on the showfield; Speedway grandstand in background — **My GT/CS on the show field; Speedway grandstand in background**

This was the first time I had attended a show of this magnitude. Memory tells me that there were about 3,000 Mustangs in attendance. Once we entered the parking lot, it was first-come first-served to find a spot; except for some pre-chosen cars parked under cover, there was no attempt to organize the field. We parked and walked around. The Ford Motor Company was an official sponsor, so it was a treat to see one of the first Ford GTs. Edsel Ford II (son of Henry Ford II) was in attendance, and had a friendly greeting for anyone who came by his way.

A proud pose into one of the first GTs shown to the public — **A proud pose in front of one of the first Ford GTs shown to the public**

**Mr. Edsel Ford II, son of Henry Ford II, grandson of Henry Ford**

This was a 3-day show, and Day 2 was not that different from Day 1. Temperatures stayed in the 80s, and cars were kicking up a lot of dust in the gravel parking lot. The heat and the dust did not make walking an enjoyable endeavor. I did spot a number of other GT/CS cars, and when possible, introduced myself to the owners.

One evening, there was a caravan into downtown Nashville, where we saw a show at the Grand Ole Opry, and enjoyed some local BBQ. By Day 3, we were ready to head home. We drove sans caravan, stopping at a B&B on the way, and taking in the scenic views of the Blue Ridge Parkway and Skyline Drive through Virginia.

**The California Special poses outside of our B&B**

We got home without further incident. The Mustang did 2,200 miles, flawless except for the leaky heater core (for which I should have known better). Now I knew what I’d be working on during the upcoming winter!

My wife takes in the beautiful Virginia scenery — **My wife takes in the Virginia scenery, pleased that there is no more green fluid to deal with**

The Purchase of My 1968 Mustang California Special

February 26, 2017 RichardReina Family cars California Special, Ford Mustang, GT/CS, Marti Report

After participating in the New England 1000 classic car rally for four years straight, I took a break. Admittedly, this “break” was dictated by circumstances; Steve had moved to California, and I had sold the MGB, so I was without a rally-eligible ride. It was fun to take the little BMW Isetta to car shows and cruise nights, but a 13 horsepower microcar was no long-distance rally contender.

Sure, you can buzz around the neighborhood, you aren't going to rally in that thing, are you? — **Sure, you can buzz around the block, but you aren’t going to rally in that thing, are you?**

By 2003, the itch to get a drivable classic car had returned full strength. And I knew what I wanted. Much of the spring and summer of that year was spent searching online for a Ford Mustang California Special.

Why this particular Mustang? The story really starts in the early 1990s, while attending a Carlisle (PA) antique car event. Rounding a corner in the flea market, I stopped dead in my tracks at the sight of a Mustang coupe, the likes of which I had never seen before. From some angles, especially the rear, it looked like a Shelby Mustang. But this car was a 2-door notchback, and all of Shelby’s cars were either fastbacks or convertibles. My next thought was that someone had created a one-off tribute car. Whatever it was, I needed to find out more.

After returning home and conducting some research, I was fascinated to find out, for the first time, about this very special Mustang model. Here is the capsule version of that story:

In mid-1968, the Ford Motor Company recognized that increased competition from GM (Camaro, Firebird), Chrysler (Barracuda), and AMC (Javelin) was hurting Mustang sales. Ford, encouraged by their strong Los Angeles dealer network, agreed to create a special model, to be sold only in the state of California. The California Special (also known as GT/CS) option was a $194 trim package, only for coupes, and available with any engine. Initially, the plan was to build 6,000 units. When sales results did not keep up with forecasts, dealers throughout the west were allowed to order and sell the GT/CS. No cars were ever sold east of the Mississippi. Final production total was 3,867 units out of 249,447 ’68 coupes, representing about 1.5% of total coupe production.

Steve owned a book dedicated to the GT/CS, which he generously loaned me. From this book I learned that all of its distinguishing features were external: blacked out grille, fog lamps, hood locks, side stripes and scoops, rear spoiler, pop-open gas cap, and Shelby taillamps. This was a “Shelby look” Mustang at a fraction of the price of a real Shelby.

My infatuation was growing, and was further fueled by discovery of the www.californiaspecial.com website. The search for a car began, complicated by (no surprise) seeing that most of these cars were 2,000-3,000 miles away from me! Not many California Specials wandered far from their birth place.

After about 6 months of constant searching, this ad popped up on the californiaspecial.com website:

Tony's ad from August of 2003 — **Tony’s ad from July of 2003**

Several factors were immediately attractive: the car was Lime Gold, the same as my ’67 Mustang (even though the ad incorrectly described the paint as Ivy Gold, which was the interior color), and it was in Maryland. Less attractive was the 390 (this is the cue for big block fans to boo and hiss, but I preferred the Ford 289-302 small block, one of the world’s best V8s), and the price, which was about 25% higher than my target. Before proceeding any further, I bought a Marti Report for the car.

Kevin Marti runs a business whereby customers supply him with a VIN from a classic Ford product, and he supplies a report detailing the production details for that specific car. He started his company by purchasing these records directly from the Ford Motor Company. There were many warnings about GT/CS clones, and knowledgeable online forum participants stressed that a Marti Report (only $17) was one sure way to guarantee that the California Special under consideration was not a fake (or as those who practice such shenanigans would call it, “a tribute car”).

**The Marti Report for my GT/CS, X154014**

The Marti Report for the car in Maryland not only confirmed that it was a real California Special; it showed the car to be highly optioned from the factory, with air conditioning, power steering, power disc brakes, GT package, deluxe interior, and center console. One further revelation from the report: the car was sold new in Hawaii! I rang up Tony, and one Sunday in August of 2003, took a ride to Germantown MD.

On my arrival at his home, Tony had the car parked outside. I spent at least two hours going through it, flashlight and screwdriver in hand. It was solid and complete, and drove well. There were some minor faults in the paint, and underhood looked like it needed a weekend’s worth of detail work, but there was a lot to like. Knowing there was no rush, I pitched a low-ball offer to him, convinced he’d never take it, and concluded with “think about it, and we can talk during the week”. As I took out my keys and walked toward my car, Tony yelled out from 20 feet “I’ll take it!” Oops. My gambit worked.

We did the whole money and paperwork part of the deal from our respective residences, and about two weeks later, plates in hand, my step-son John and I headed down in my Volvo. He drove the Volvo home, following me in the ’68. The car drove absolutely fine the entire way, until I pulled into my driveway, at which point the mechanical fuel pump sprung a leak! My timing could not have been luckier. It also gave me my first taste of the difficulty of working on that massive engine, as the A/C compressor needed to be swung out of the way to reach the pump. But the car was on the road again in short order.

I had big plans for the Mustang for 2004, 2005, and beyond. This car was going to be driven and enjoyed.

Sunday Morning Breakfast Run, August 28, 2016

August 28, 2016 RichardReina Alfa Romeo GT 1300 Jr., Drives, Events Alfa Romeo GT Junior, Alfa Romeo Spider, BMW Z3, Cadillac Eldorado, Chevrolet Corvette, Chevrolet Nova, Classic car drives, Dodge Viper, Ford Mustang, Porsche 911, Readington Diner

It’s been a hot summer in the Northeast, but the morning of August 28, 2016, dawned with somewhat cool temperatures. This usually means that while it would still get quite warm, the humidity would fail to be oppressive. Most importantly, it gave every indication of staying dry for our breakfast drive, a gathering which we last did back in May.

The usual chit chat before breakfast — **The usual chit-chat before breakfast**

Our turnout today was great: 12 cars and 14 participants. Showing the diversity of our automotive interests, we had a mix of 5 domestics and 7 imports, and almost every decade represented from the 1960s through the 2000s. For a switch, let’s list our cars alphabetically by make (OK, I admit it, I want to get the Alfas first):

Alfa Romeo – THREE! Two ’91 Spiders, and your blogger’s ’67 GT Junior.
BMWs – Three: Two Z3s (one an M), and a rather new 2-series convertible.
Cadillac – a ’66 Eldorado convertible.
Chevrolet – Two: A ’72 Nova, and a C4 Corvette coupe.
Dodge – The Green Viper.
Ford – A late-model Mustang convertible.
Porsche – a late ‘80s 911 coupe.

We're now in the habit of including a fuel and restroom break — **We’re now in the habit of including a fuel and restroom break**

Our breakfast destination was the Readington Diner on Route 22 in Whitehouse Station NJ. Once we got off Routes 287 and 10, the roads were a driver’s delight. The diner was most accommodating, as we called ahead, and there was a table waiting for us when we strolled in at 10:30.

Coffee, food, more coffee, talk, and more coffee finally concluded with the usual “why don’t we do this again soon?” So we will. We’re hoping for at least two more runs this year before our classics are tucked away for the winter.