As Ford draws closer to production of its new 2020 Bronco SUV, restored and replica versions of the original SUV are fetching prices up to $295,000, more than 130 times its price at launch.

The first-generation Bronco debuted as a 1966 model and stayed in production through the 1977 model year. With a wheelbase of just 92 inches, it was a rugged compact off-roader in the style of the Jeep Wrangler’s 1966 ancestor, the CJ-5. The bulky 1980s-1990s Bronco that O.J. Simpson rode to infamy in 1994 was a bloated successor to the tidy original, which was created by some of the same people as the ’65 Mustang.

And good luck finding the remains of a first-gen Bronco, say the founders of two companies busy repurposing that bare-bones $2,194 SUV into hand-tooled luxury goods.

We're running out of old Broncos

Restoring the classic first-gen is so popular, “it’s very hard to find an original Bronco in good shape,” said Seth Burgett, CEO of Gateway Broncos, a Hamel, Illinois, company that started out restoring Broncos and is now licensed by Ford Motor Co. to build “new” 1972 Broncos that combine the original’s looks with Ford’s modern 5.0L engine and automatic transmissions, power windows — controlled by levers that look like the original hand-cranks! — power steps and leather from the same supplier Porsche uses.

“Our customers are looking for something special,” Burgett said. “They’re executives, entrepreneurs. Ten percent have their own jet.

“We’ve had requests for paint colors to match the customer’s airplane.”

Nine out of 10 orders are now for Broncos built new from the ground up.

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Gateway can build about two trucks a month. “We’re trying to match capacity to demand and get to at least two trucks a week,” Burgett said.

The trucks are called “restomods,” a contraction of restored and modified. Gateway’s production is sold out months in advance at prices from $180,000 to $295,000.

Updating other classic trucks

Los Angeles-based Icon has been rebuilding Broncos and other classics for a decade. “We saw a trend in the market,” said CEO Jon Ward. “People were drawn to the aesthetics of the vehicles, but weren’t in love with three-on-the-tree manual transmissions, carburetors and drum brakes.” Customers wanted reliability, comfort and features like Apple CarPlay.

Icon scours junkyards and barns for chassis to create luxurious updated Broncos, Toyota FJ Land Cruisers and Thriftmaster pickups based on ’47-’53 Chevys.

In 10 years, it has rebuilt 145 Land Cruisers, 60 Broncos and eight Thriftmasters. Prices run from $200,000 to $260,000, unless you ask for one of Icon’s one-off projects, which have run up to $1.2 million.

A Bronco restoration will include replacing the truck's leaf springs with modern coil-over shocks, new axles, Brembo brakes and the ubiquitous 5.0L Ford Coyote V8, modern transmission, CarPlay, navigation, heated seats and more.

Both companies build hardtop, convertible and pickup versions of the Gen 1 Bronco.

Or, you could wait a year and get a nicely equipped new Bronco from Ford’s Wayne, Michigan, plant for around 30 grand.

Contact Mark Phelan: mmphelan@freepress.com or 313-222-6731. Follow him on Twitter @mark_phelan.