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Which cars are classics /"collectibles" /curiosities /or scrap metal?
I'm wondering if we should make a distinction between cars that are "classics" and cars that are "desirable".
For example, most car collectors would agree (I think) that a V-16 Cadillac is a "classic". It's an example of superior engineering and styling (depending on the coachbuilder, I guess) and this superiority can be measured objectively. It's styling and engineering were far above the norm in 1931.
Also, it has a history of being highly valued--it got through the "it's just a used car" phase quickly and emerged as a classic.
Desirability, on the other hand, is subjective. Do most people desire a V-16 Cadillac? My guess is probably not. That car is most meaningful to a steadily shrinking group of buyers. I think most of the collector car action is in musclecars these days, because those cars are far more meaningful to the typical collector.
Does that make a musclecar a classic or just a desirable car? Does the shift in the market mean that a V-16 Cadillac isn't a classic anymore?