Monday, November 17, 2014

Found in the Wild: Rarity Doesn't Equate to Value

There have only been 400,000 tons of gold mined ever. From day one to present; 400,000 tons. That's it. Despite being relatively useless, (Though it has excellent thermal properties) gold has tremendous value because of its relative scarcity. Today's 1984 Ford LTD is rare as gold lying on the sidewalk but hardly as valuable. Why is that?

We recently featured a very regal 1978 Ford LTD and it's hard to believe that in six short years, the LTD was reduced to this boxy and apologetic lump. Starting in 1983, the Ford LTD was based on the unloved and unattractive Granada which in turn was based on the Ford 'Fox' platform. Yes, the Mustang was also based on the Fox platform but the LTD inherited little of the charm.

It did, however, inherit most of the Mustang's engine options ranging from a hilariously slow propane-fueled four cylinder (88 horsepower) to a relatively brawny 4.9 liter (302 cubes for US of A citizens) V8. This one likely has the middle ground 112 horsepower 3.8 litre V6 with a carburetor in 1984! For some reason, Canadian models made due with carbs while our southern neighbors had fuel injection which was good for an extra eight horsepower. 

This LTD is 30 years old which is old enough to be registered as a classic car and yet it just isn't really a classic. The LTD is just an old car in the same way that N*SYNC is just old music. Nobody restores a 1984 Ford LTD. Nobody will mourn this car's passing. It's still driving around in downtown Toronto in remarkable shape so who knows, it might live a while longer. And if it's any consolation to the current owner, it's a rarer car on Toronto streets than a Mercedes SL, Lamborghini Gallardo or anything with a Porsche badge. It's just worth about as much an oil change in any of the aforementioned cars.


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