1988 Alfa Romeo Milano Verde sells for $19,500

1988-Alfa-Romeo-Milano-Verde-Front
What is going with the used car market? Never mind that it is impossible to find a decent car for daily driving, but the enthusiast cars of the 1980s and 1990s are going for insane amount of money. Air-cooled Porsches are beyond insane point. Toyota Supras, ha! Then there was this Integra Type R. Now my neighbor informed me about this Alfa Romeo Milano which just sold for $19,500.
While less than $20,000 is not a ridiculous amount of money, chances are that you could buy more than a handful of Milanos for that amount. Granted, this was a Verde, an all-original one with low mileage, too. It was probably well maintained and everything worked as it should, but does that justify this price?
Undoubtedly, this is a bubble. I don’t know what’s causing, nor do I really care. I don’t know when it will burst but it’s interesting to watch from the sidelines. It’s my personal belief that cars should be driven and not treated as investments.
What else is going up in price? Caprice wagons? Grand Nationals? Any turd with a Shelby badge on it? Fox bodies?

16 Comments

  1. All old Datsuns. It’s disheartening, now that I want to replace my 240z that a drunk driver destroyed 20 years ago the prices are haywire.

  2. Hmm… I really want to organize a comparison between a Verde/3.0 and my SHO.

    A quick comparison of the factory numbers reveals that the SHO is faster 0-60 wise, but the Italian soundtrack should make up for that.

      1. Oh it does, with a 7000 RPM redline, but when was the last someone fantasized about a high RPM American soundtrack?

        Also, I feel the need to try roof mounted window switches.

  3. I like MIlanos fine, but not that fine. I might like them a zero less. But, low miles and perfect conditions does have its attractions. Especially for an old Alfa with lots of plastics and electrics.

  4. With hindsight, buying that handful 5 years ago would have returned more handfuls today, plus a sizable amount of driving joy for you and your buddies…
    To a degree, this is expected appreciation. It’s our generations childhood cars, the good ones are rare, and some of us are starting to earn decent money. In addition, investment opportunities are scarce with ridiculous bond rates and bank saving, a wild west irrational stock market, insecure housing markets all over the world etc. So classic cars are a good opportunity to both use and park money. Let several people think that way and you got your bubble.
    Which is not to say there aren’t any deals out there, just think alternatively. Go for a top notch Lada Samara or Hyundai Pony before values go through the roof…

  5. I don’t think it’s a bubble, but a trend with no end in sight. At some point the prices will level off. Tough to determine what would make a great deal for future returns, but wise shoppers just buy what they like.

  6. I can park my money foreffectively 0% on my bank account or in my driveway. While the stock market is a nervous wreck, my Alfa will be a beautiful wreck.

  7. Asking prices for AMC products are getting into stupid money territory in the PNW, especially Ramblers. Not very long ago, you could buy yourself a different color Rambler for every day of the week for pocket change. Now I’m starting to see ads for some pretty generic models for $5,000 and up. This isn’t to say the sellers get offers anywhere near that much, but those numbers still make my eyes water.

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