There are a LOT of people that don't have the skill, space, knowledge, time, etc to restore/rebuild one of these cars from a "reasonable" starting price for the project. Paying $40k for a car that is done and can be driven, whether it's really done right or not, is a big money savings over paying someone to do all the work. Considering a new stripped base model truck starts at $45k+ and nicely appointed is $65k tells me the entire vehicle market has seen massive inflation. Both new and used. Classic cars are along for the ride. To your point, the hyped up selling prices at the auction houses don't help at all.