Another day, another barn find goes for insane money on the secondhand market. This week on the used car market, a 1993 Toyota truck sold for $45,100 on eBay for no reason. OK, it only had 84 original miles on it, but still. What is the appeal of these trucks, and what’s going on with used pickup trucks?
This 1993 Toyota Pickup DLX 4×4 was a cool find
The Drive first reported that a 1993 Toyota Pickup deluxe was for sale on eBay last week. The eBay listing showed that the 1993 truck only had 84 original miles. The Toyota truck was registered in New Hampshire and uses the plate “1rare93.” According to the listing, the private seller found the 28-year-old truck in a barn. It was initially purchased in 1993 in Gorham, NH, and left untouched after 84 miles. The current owner purchased it this year and did some work on it.
The battery, fuel tank, and fuel pump were updated after the sale. The owner changed the oil and filters, and the Toyota truck currently runs. A few dents are visible on the body in the photos, but it is otherwise in good shape. The owner also claims someone stole the spare tire off the truck.
The starting auction price was $20,000. It ended at $45,100 about a week later. That’s not a bad deal for a 28-year old pickup truck.
Used pickup trucks are a hot commodity on the used car market
This is just another indication of how insane the used car and new car markets are right now. In that vein, Toyota trucks seem to be a particularly hot commodity. Direct-to-consumer sites like Bring a Trailer, Cars, and Bids, and ShiftGate have brought a new way to buy from other enthusiasts. Though eBay is a big player in the game as well but caters to a much larger group of buyers.
The Drive reported back in November 2020 that something was happening with used cars and trucks. A Ford-250 sold for $45,000 in addition to a Chevy K20 for $84,500 back in June 2020. Then, a 1991 Ford Bronco sold for $90,000 back in October 2020. Randy Nonnenberg, Bring a Trailer founder and CEO, spoke to The Drive last year.
“Honestly, [motivation] is different for every buyer. We have some buyers who want a really simple, stripped-down truck to go on a ranch or on a certain type of trip or do a certain type of work.”The Drive
Finding pickup trucks like the Toyota truck discussed above has appeal to those buyers. Though the car has some dings, it hasn’t been beaten up during its long life.
The market isn’t going to slow down yet
While automakers around the globe continue to fall behind in production, it is the perfect storm for an uptick in expensive used car sales. At many places around the country, dealerships have been adding to the MSRP to recoup some losses. Most recently, 2021 Ford Bronco buyers have been subject to an additional $5,000 to $10,000 in markups.
While sites like Bring a Trailer and Cars and Bids might seem to be fueling the fire on the used car market, the control is in the buyer’s hands. If you watch the process, buyers will bid until the very end to win that new, used car.
If you look at the graphs for sold vehicles on Bring a Trailer, the market has only grown since the start of 2021. A 1979 Ford Bronco sold for $213,000 in July, while a 1971 Coyote Bronco sold for $206,000 at the beginning of September. LS3-Powered 1972 Chevrolet K10 sold for almost $100,000 this month. If this current trend is anything to go on, the used car and truck market is at an all-time high. It seems that conditions are suitable for an enthusiast-driven used car market, at least until new car production catches back up.