What Is Indian's Great Depression-Era 74ci Chief Motorcycle Worth Now?

While Harley-Davidson is regarded by many as America's preeminent manufacturer of motorcycles, the legendary bike maker is technically not the oldest in the continental United States. In fact, George H. Hendee founded the company that would become Indian Motorcycles in 1897, six years before William S. Harley and Arthur Davidson started making motorcycles. Hendee's company, of course, began as a bicycle manufacturer, debuting the first of its legendary line of motorcycles in 1901.

More than two decades passed before Hendee re-branded his company as Indian Motorcycles. That event came just one year after Indian debuted what would become its flagship bike, the Chief. Just a few years later, America would enter the lengthiest economic downturn in its history. Unlike many manufacturers, Indian made it through The Great Depression, doing so in part thanks to its willingness to innovate. In 1932, Indian Motorcycles produced one of its most important innovations, a four stroke, 74 cubic inch engine that debuted on its celebrated Chief build.

Though the Depression-Era market for motorcycles was hardly robust, with sleek lines and powerful engines, some have hailed the 74ci Chief as the bike that brought Indian into the modern era. That fact has, understandably, made the 74ci Chief and its Depression-age descendants sought after by those who love the Indian brand. So much so, it seems that a Depression-Era 74ci Chief in good repair could bring in well north of $60,000 for a seller on the auction circuit these days.       

The 74ci engine was so well-liked, Indian continued to use it in Chiefs and other makes for many years thereafter, including bikes built after The Great Depression. Given that fact, the value of a 74ci Indian can vary dramatically based on make and model alone. Since 74ci Indian's are largely considered vintage bikes, the overall condition could affect the potential re-sale value just as much. As the 1932 Chief ushered in the age of the 74ci engine at Indian, we'll focus on that model year in exploring the bike's worth here.

While not all Indian's appreciate in value, the good news for those looking to sell a '32 74ci Indian Chief is likely the bad news for those eager to buy one, in that the bike's err on the side of expensive on resale. Apart from their historical importance, that is in large part due to the relative scarcity of the '32 Chief, with Indian reportedly selling just 2,000 units in that calendar year. As for the bike's value, J.D. Power estimates that a '32 Chief with the 74ci engine in excellent condition could be worth more than $66,000 on the open market.

In an auction environment, one has to wonder if that number might not be considerably higher. According to J.D. Power, the drop-off from excellent condition to very good is quite steep, with the company estimating the worth of a '32 Chief in the latter category at $36,765. Such a bike in good, fair, or poor condition could still have considerable worth, with their estimated values at $24,380, $19,145, and $11,165 respectively.