95' ZR-1 at Barrett/Jackson - Palm Beach -$23K

[zr1assassin]

Guys, this is an easy fix (if there is even a problem). Everyone that owns one currently, only sell at a "high" price...thats it, you controls the value. If everyone sells "low" then the purchase market is low. If you don't want the value dropping don't sell for anything less that what you think it's worth.

[TX '90 ZR1]

Originally Posted by zr1assassin

Guys, this is an easy fix (if there is even a problem). Everyone that owns one currently, only sell at a "high" price...thats it, you controls the value. If everyone sells "low" then the purchase market is low. If you don't want the value dropping don't sell for anything less that what you think it's worth.

As we sometimes say here in Texas, "You have your head on straight". My only correction would be that it does not need to be a "high" price, but a reasonable price for value received.

[Ccmano]

I think the graphic here says it all. These are the high and low prices by generation from the 2018 Meccum Auction in Kissimmee. The C4 “high” was a 1990 ZR-1 with under 3k miles I believe. Looking at the “High” side it’s obvious that the C4 is currently at the bottom of of the food chain and as we know has been for a while. I suppose on the positive side it allows the less affluent of us to enjoy a vehicle that might otherwise be out of reach.
H

[spork2367]

Originally Posted by TX '90 ZR1

Seems like every time a car sells for less than some think it should the reaction is "Our cars are not worth anything and will be worth less tomorrow". I sometimes wonder if these actually own one.

Our cars, and most speciality cars, are not to be looked at as a financial investment opportunity. If you expect to come out ahead financially, put your money somewhere else and skip all the work.
But, if you are passionate about a vehicle, enjoy driving it, enjoy the time and effort involved to keep it in condition, you have discovered the real investment value. All things are not tied to the "$" sign.

So you think people aren’t honest about owning them?... While there are lots of trolls out there, I can’t say I’ve seen any here. There are people here who don’t own zr1s anymore, but I don’t think anyone is being misleading about that. I think the cars aren’t worth a lot compared to similarly performing and priced cars of the time period. And I own a car, parts car, complete engine and what feels like enough parts to support a small fleet of zr1s. Because I love them. That doesn’t stop me from being a realist.

Your second point is exactly why some people don’t like being realistic about prices. There are a lot of owners who bought these cars thinking they were going to be the owners who saw them turn the corner on valuation and start appreciating. Unfortunately, with the exception of a few small up ticks, they’ve done nothing but depreciate, and continue to.

Originally Posted by shawn8492

I didn't buy my car as an investment, but I wanted to get one while they were at the bottom but had stopped dropping, which is where I feel like they are today.

I think one day we will be a lot happier with the auction prices, but it may be a while.
Shawn

They are still dropping, with the exception of 94s and 95s which are just flat. Unfortunately, some parts are getting hard to find. And as people start putting miles on the vast amount of low mileage cars and need parts, well...we haven’t seen the end of cheap cars. There simply aren’t enough spare parts to support 6000 some aging cars.

Originally Posted by zr1assassin

Guys, this is an easy fix (if there is even a problem). Everyone that owns one currently, only sell at a "high" price...thats it, you controls the value. If everyone sells "low" then the purchase market is low. If you don't want the value dropping don't sell for anything less that what you think it's worth.

The sarcasm is strong with this one.

[TX '90 ZR1]

Originally Posted by spork2367

So you think people aren’t honest about owning them?... While there are lots of trolls out there, I can’t say I’ve seen any here. There are people here who don’t own zr1s anymore, but I don’t think anyone is being misleading about that. I think the cars aren’t worth a lot compared to similarly performing and priced cars of the time period. And I own a car, parts car, complete engine and what feels like enough parts to support a small fleet of zr1s. Because I love them. That doesn’t stop me from being a realist.

Your second point is exactly why some people don’t like being realistic about prices. There are a lot of owners who bought these cars thinking they were going to be the owners who saw them turn the corner on valuation and start appreciating. Unfortunately, with the exception of a few small up ticks, they’ve done nothing but depreciate, and continue to.



They are still dropping, with the exception of 94s and 95s which are just flat. Unfortunately, some parts are getting hard to find. And as people start putting miles on the vast amount of low mileage cars and need parts, well...we haven’t seen the end of cheap cars. There simply aren’t enough spare parts to support 6000 some aging cars.


The sarcasm is strong with this one.

All comes back to perspective. Is your glass half full or half empty?
I honestly do not know who here currently owns a C4 ZR-1. If they do, what is the reasoning behind negatively commenting? As I stated in my comments, the "$" should not be the over riding factor in determining value of ownership.
I purchased a '90 red on red (they ARE the fastest ones!) brand new in 1990. Gladly paid sticker price. Drove the He double L out of it. A couple of years later I sold it with just less than 30k on it for half of purchase price. I feel I got what I signed up for. I did not buy it for a financial investment, but an investment in enjoyment.
The '90 I currently own is an exact duplicate to the previous one. Again, I look at it as a source of enjoyment.
As previously stated in my comments, investing in these or any other speciality car for solely financial gain is more times than not an effort of futility.
I agree that replacement parts may become short in supply. However, true enthusiasts will easily overcome the defeciencies as they arise. A portion of my background is resurrecting unusual aircraft from despair into an operational state. You don't get to call the local parts store and have it delivered in the morning! Figure it out, make it, or find someone who can.
To the final point. Sarcasm may or may not have been intended. I do know for a fact that negativity only produces the same.

[KILLSHOTS]

Originally Posted by DRM500RUBYZR-1

And what did you pay for yours?

Marty

I paid $18K for my white on red 1990 #2954. It had 15,500 miles on it and had the original Gatorbacks on it. What else would you like to know?

[DRM500RUBYZR-1]

Originally Posted by KILLSHOTS

I paid $18K for my white on red 1990 #2954. It had 15,500 miles on it and had the original Gatorbacks on it. What else would you like to know?

Well, point proven, thank you.
Using the logic some have used here, you got fleeced.
There is a 90 for sale that remains unsold for $ 9,000.00 on the other forum.
So " they" would say you paid WAY over market.
Or they would make you think you had better sell it today for less than you paid as soon it will depreciate to nothing.

If you cherry pick the right set of "facts" you can darn near prove anything.
Enjoy your car; forget it's "market value".
Nice color combo by the way!
Marty

[32valvZ]

Some good posts in this thread. I believe that it really is a matter of perspective & perception of what one person sees as value. The following is simply my opinion.

On one hand,you have guys who want the ZR-1 with 200 miles on the clock. They have the money to pay the premium. They find value in a unmolested, virgin car with every piece of paperwork that came with it still inside the car. The buyer of this car is probably looking at the car as the monetary investment, hoping for some kind of return on the car. His thinking is that the most original, lowest mile car has the best potential for a better ROI. Nothing wrong with this.... and he might be correct. Might make a few grand on the car if he bought it right. Might break even. Still an enthusiast, but enjoys the car in a different way than most of us would.

Next, you have guys, that I think are the majority of where ZR-1 owners fall.(myself included) These guys are looking for a ZR-1 that has been well maintained, maybe had some of the known issues already tended to and as low miles as possible on the clock. Lets face it, no one sets out to find the highest mile car they can locate in most cases. These guys can turn wrenches and are willing to put in some sweat equity to make the car as good as it can be. These guys know the car they have will more than likely not return them anything in a monetary value. These guys will get their enjoyment from driving, modding and working on the car. I think the expectation for these guys is that they know going in, that they will need to spend a few bucks on the car that will never be recovered. But, when it comes time to sell the car, they hope another enthusiast, buyer will respect and value the time and money spent and try to recover as much as possible.

Finally, there are the next group of guys who are looking for the lowest priced cars, and miles are not a factor. Mostly, because they cant be at this price point. These guys just want a ZR-1 so badly they are willing to sacrifice more than most others, realizing there will be money needed to get the car back into shape and safe to use. They are willing to put in the wrench time needed to make the cars as good as they can be. The buyers of these cars could care less about ROI and simply want to drive, work on and own a ZR-1.

All that said... each kind of owner is an enthusiast in their own way. Not a problem. I think each kind of owner places value differently. Not a problem. As long as the owners/buyers of these cars can realize they have an important piece of Corvette history in their garage to take care of for a while is where the real value lies in the present.

Everything thats old becomes new again. One day when most of us are gone and many ZR-1 are also gone, the few that are left will hopefully be remembered and recognized for what they once were. If that happens, the cars will be unobtainable for most people. I hope somehow that I can hand my ZR-1 down to my son and he hands it down to his son. For now, Im gonna try to enjoy my car the way I like and know that I got a great deal for a great car!

[KILLSHOTS]

Originally Posted by DRM500RUBYZR-1

Well, point proven, thank you.
Using the logic some have used here, you got fleeced.
There is a 90 for sale that remains unsold for $ 9,000.00 on the other forum.
So " they" would say you paid WAY over market.
Or they would make you think you had better sell it today for less than you paid as soon it will depreciate to nothing.

If you cherry pick the right set of "facts" you can darn near prove anything.
Enjoy your car; forget it's "market value".
Nice color combo by the way!
Marty

Yes, I did get "fleeced".

[shawn8492]

There is an average of what a car is worth. Some will go for more than the average and some will go for less depending on different factors such as condition and the urgency to sell.

I have watched the market for a while and don't see them dropping. What I have been looking at is the price of cars with 40-70k miles, and they seem to be 15-18k which is where I bought my car. Yes, there are some listed on ebay for mid to low 20s with those miles, but I don't think the market is there yet.

Just be happy you didn't buy a C5. I love them and was looking at those also when I got my Z. They are dropping like a rock. The first one I saw under 10k blew me away, now they are under that and a buddy sent me one last night for $5800.
Not knocking C5's at all, but that is just what the market does. C6's are now being seen for low teens with 80-100K miles. Great deals on awesome cars.