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Junkyard Gem: 1980 Pontiac Phoenix LJ Hatchback

The car-building world was rushing headlong into front-wheel-drive by the late 1970s, eager to reap the weight-saving and space-enhancing benefits of front-drive designs. General Motors designed an innovative FWD platform to replace the embarrassingly outdated Chevrolet Nova and its siblings, and that ended up being the Chevrolet Citation. The other US-market GM car divisions (except Cadillac) got a piece of the X-Body action, and the Pontiac version was called the Phoenix. Here's one of those first-year Phoenixes, not doing a very good job of rising from its snow-covered ashes in a Colorado self-service yard. Pontiac had used the Phoenix name on a luxed-up iteration of Pontiac's version of the Chevy Nova during the 1977-1979 model years, and so it made sense to apply that name to the Pontiac-ized Citation. Phoenix production continued through the 1984 model year (the Citation managed to hang on through 1985). Just to confuse everyone, the Nova name was revived in 1985, on a NUMMI-built Toyota Corolla. The LJ trim level was the nicest one for the 1980 Phoenix, and it included lots of trim upgrades and convenience features. However, even Phoenix LJ buyers had to pay extra for a three-speed automatic transmission instead of the base four-on-the-floor manual ($337, or about $1,291 in 2022 dollars). If you wanted air conditioning, that was another $564 and you had to get the $164 power steering and the $76 power brakes with it (total cost in 2022 dollars: $3,080). Affordable cars weren't so affordable back then, not once you started adding basic options. Both generations of the Phoenix had grilles influenced by those of the Pontiacs of earlier years. The base engine was the chugging 2.5-liter Iron Duke four-cylinder, but a 2.8-liter V6 was optional. This car has the V6, rated at 115 horsepower rather than the Duke's miserable 90 horses. The price tag: 225 bucks, or 862 inflation-adjusted 2022 bucks. The Phoenix was available just as a two-door coupe and five-door hatchback. The MSRP on this car would have started at $6,127, or around $23,469 now. That would have been a pretty good deal even after paying for the options, with the Phoenix's excellent mix of good interior space and solid fuel economy… but the Citation and its kin (the Oldsmobile Omega and Buick Skylark as well as the Phoenix) suffered from seemingly endless, highly publicized recalls and quality problems.

Burt Reynolds' old Pontiac Trans Am replica sold for $317,500

Following Burt Reynolds' passing last September, Julien's Auctions held an estate sale of the late actor's property on June 15-16 in Beverly Hills, Calif. Hundreds of items were included in the auction, but none more valuable than the Pontiac Trans Am Bandit replica previously owned by Reynolds. It easily surpassed expectations when it sold for $317,500. Julien's, the self-proclaimed experts in contemporary and pop culture, listed 876 pieces in the sale, from cowboy boots to a driver's license to scripts. The online preview said it estimated a range of prices from $25 to $200,000. They were way off. Item No. 716 was a replica of a Pontiac Trans Am Bandit that was seen in the original "Smokey and the Bandit." Not the real car, just a re-creation. But its value comes more from who owned the ride rather than what the car was. The replica was owned by Reynolds for some years, and now that he's passed, it's coveted even more. It's not the only Trans Am item that sold at auction. Three Reynolds Trans Am model cars sold for $640, $576 and $512. A Reynolds-signed "Bandit" poster sold for $3,200. A Reynolds-signed poster from the Trans Am plant sold for $1,562.50, a Reynolds custom-built Trans Am office desk sold for $4,375, and a "Smokey and the Bandit" decorative etched glass panel sold for $896. This isn't the first time a Bandit replica has sold for big money. In 2016, a promotional Trans Am sold at a Barrett-Jackson auction for $550,000. We also believe the exact car sold in this Julien's auction was previously bought at a Barrett-Jackson auction in 2018 for $192,500. If that's the case, somebody just made an extremely easy profit.

'We're not a hedge fund': Porsche plans to curtail speculators and flippers

A sizable number of speculators view cars as an investment. Rare or unusual models are quickly snapped up and either parked for years or flipped for a profit. Cars from automakers like Porsche and Ferrari are more prone than others, and at least some people behind these models are getting a bit tired of it. While it's difficult to police what goes on after you sell a car, Porsche has some plans that might curtail the problem before it starts. Andreas Preuninger, the head of GT road-car development and the man behind the new 911 GT3, spoke to Car and Driver at a recent event. "I personally like to see my cars being used," he said. "That's what we build them for. They are just too good to be left to stand and collect dust." One recent example of this rampant speculation is the 911 R. While the special manual-only model sold for $185,950 when new, used versions were selling for nearly $1.3 million just months after it went on sale. While the car is a masterpiece and an instant classic, a good number will be parked and simply used as art and not the rolling testaments to the man/machine interface they were intended to be. The concern over valuations has become so fierce that some owners are upset that Porsche is offering the new 911 GT3 with a manual transmission, fearing that it may hurt the value of the 911 R. "When I said we're not a hedge fund, I'm talking to those people who are yelling at us for offering the manual transmission similar to the R," Preuninger said. "But if there are people wanting to buy cars like that, then as a company we should try to fulfill that, to meet that demand." It seems Porsche is keeping a close eye on who is flipping cars. Since there is often far more demand than supply with certain models, the German automaker has a name for every car before it's built. Buyers with bad reputations might not even make the wait list. Related Video: