Are ZR-1's really that cheap?

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imported_Aurora40

New member
I did a check of Edmunds on a 1990 black ZR-1 in the best condition they list with 6,000 miles on it. The highest price (dealer) was $15,000. Kelley Blue Book had $20,000. However, the NADA has a high retail of $31,500.



A 1995 with the same mileage is $45,000 high on NADA, $34,000 on KBB, and $33,500 on Edmunds.



Does anyone here know anybody that has purchased or shopped for a ZR-1 recently? Can you really get a 1990 with 6K for $20,000 or a 1995 for about $35,000? I guess it doesn't matter because we will get a house first (if for no other reason than to have somewhere to park the ZR-1 and Aurora inside...) but I was pretty shocked by that. If you go to places like ZR1.net or the few I've seen in classifieds (mostly AutoWeek) you'd get the impression that 1990's went for around $35-40K and 1995's went for around $50K.
 
I always use eBay as a measure of a vehicles value. They are usually worth a little more than they sell for.
 
Nagchampa said:
I always use eBay as a measure of a vehicles value. They are usually worth a little more than they sell for.
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Wouldn't it be fair to say that a car is worth what it sells for. :D



I know of a guy around here that has two ZR-1s... I believe they were purchased as an investment when the demand was really hot. I should ask if he was also one of those people who paid double for their early Miatas :)
 
IanO said:
I know of a guy around here that has two ZR-1s... I believe they were purchased as an investment when the demand was really hot. I should ask if he was also one of those people who paid double for their early Miatas :)
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I doubt a Miata will ever be valuable. However, don't laugh about the ZR-1. It has great potential to be an incredible collector's car in the future. Most collectible cars don't start out that way. There is a period where they are traded pretty cheaply. I bet you'd find that nearly all collectible Corvettes were pretty affordable at some point in their lifetime.



I always find Ebay to be a bit on the low side. I guess I just figure any car that shows up there must have some real problems. :nixweiss.
 
for $50k I think you'd be much better off getting a new or slightly used Z06 that will out perform the ZR1 in every way, plus you'd get much better financing if you are going that route. But that's just my opinion. It would be hard to find a ZR1 in good shape for under $25k, they're going for more like $30k or more and that's for a '90 or '91. On the other side a ZR1 will probably depreciate less, but might be harder to resell.
 
I would get the Z06 if I was looking for a daily driver and the ZR1 if I planned on keeping it forever while driving it occasionally.
 
With time the ZR-1 with 6,000 miles will be worth $$$$ ( totally stock, matching numbers, all paperwork, etc).

My 63 Chevy II Nova SS is now worth biggggg $$$$( >$75K). Who would have thought this back in 1973 ( death of musclecars years? 1983 ( foreign invasion)? and even 1993 ( hi-tech era)? :nixweiss
 
Show me a '63 Nova that has sold for over $75k within the last 6 months and i'll buy it from you.
 
blkZ28Conv said:


My 63 Chevy II Nova SS is now worth biggggg $$$$( >$75K). Who would have thought this back in 1973 ( death of musclecars years? 1983 ( foreign invasion)? and even 1993 ( hi-tech era)? :nixweiss
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Ummm..... excuse me...... did you just say a '63 Nova SS is worth more than $75,000? :hm



I mean, a "survivor" '63 Vette fuelie roadster is worth about $50,000. Unrestored 100% original '63 spilt window fuelies are doing about $60,000. An L78 '65 Vette roadster sold for $65,000. A '69 Nova SS396/360hp with a ground up resto sold for $21,000. Reggie sold his '70 Yenko Deuce 350 Nova for $51,000.



Where exactly did the $75,000 number come from?
 
Offers!!!!! :cool:

100 point restoration( no reproduction parts) '63 Chevy II Nova completely documented stock 350cc SS. Not for sell and you will not see, like many rare items, in the public domain or general public access sources. The point here is that if ones picks the right vehicle in 40 years it may be worth $$$ ( the highest amount someone is willing to pay) or nothing. If worth nothing ( book value only) and one purchased it because one loved that peculiar model and / or performance features, history and sheer joy of driving it you will still be happy. Do not risk your child's college fund or your retirement with such a venture but if life's vocation allows... have a little fun. Some people buy boats, some love to travel and some like driving and owning something different with history. I am the latter ( stable also includes 67 RS SS, 67 Chevelle 396 convertible, 69 Z28 502):wavey
 
Last year when I was looking for my car I checked pricing on edmunds, KBB and NADA........Edmunds was off by $8 - $10K :scared. and the other two were pretty close to correct.



When buying collectable cars you really need to look at Autotrader to get an idea of what the cars are selling for. If you look on a biweekly basis and note prices of cars and how quickly they sell you can estimate the appropriate price.



As blkZ28 said, it's whatever the market will bare.



If you want to get a collectable car now is the time. Since car manufacturers are offering 0% financing on new cars the used car market has really softened. Once the market picks up again prices will rise.
 
I agree that a place like Edmunds is going to miss the mark on collector cars. It's really not their forte.



But I personally would not let the Auto Trader be my guide to collector car values. I've rarely seen more "dreamer" prices anywhere else than AT.



If I want accurate "real world" values for collector cars, I'd go to Sports Car Market. Keith Martin and staff are some of the best informed, knowledgable, and experienced appraisers and commentators in the entire collector car world. Sports Car Market magazine is a MUST READ for anyone interested in the collector car market.



You absolutely, positively need to know the prevailing sale prices from national auctions on any particular car. The only price I'm interested in is the price where real cars are changing hands with real money. Fantasy prices are everywhere but reality exists in one place only.
 
bretfraz said:
I agree that a place like Edmunds is going to miss the mark on collector cars. It's really not their forte.



Fantasy prices are everywhere but reality exists in one place only.
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So true. That is why I stated offered amount. The fantasy was the fact that he thought my car(s) was/were on the market. These cars were not investments ( started late 80's, muscle car value was rather low). They were projects and affordabe toys.:wavey
 
after I sold my 996 last SEP thru a Porsche consignment dealer, I was offered (since I was flush with cash) an 02 Z06 6-sp with < 1K mi mint condition from same consignment dealer for $42K (MSRP $51K). Seller was desperate to unload. I passed on the deal since I was looking for a used Ferrari 360 or the next new Porsche 996 (997). Deals can be had on any used sports car. Alot of cars coming off lease make it a buyers paradise. All you need is some patience and a little $$$.
 
Scottwax said:


You fooled everyone else though...:up
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I wouldn't say that. Some of us didn't want to open that can of worm with him.



If he was offered $75K for his Nova then I say good for him. Personally I would have taken the $$ but I respect his decision to keep the car.
 
You got me Scott, :D. Sort of :bow



The complete explaination of this car's history is that the original engine and drivetrain (less than 15,000 miles) is also in my posession ( re-crated). The point was that this vehicle can to made back to original. The original owner converted to V8 (350ci) power in '82 when initially performing 100 point restoration. Everything else ( interior, body panels, paint, wheels, tires, etc is to stock specs ( suspension modified to match increase engine/drivetrain weight). Became trailer queen show car. Sold to me in '89 with all crated original parts at nowhere near amount offered.

Rather than hijack this thread ( which has seemed to have occurred) I gave an example how a vehicle can increase in value. The point of this thread is that one never knows what a vehicle will draw from the market place ( someone who really desires a specific vehicle). Would many people offer this kind of money for this peculiar vehicle? No. How much is it worth to drive a visual sleeper like this in a straight line....priceless. :wavey
 
bretfraz said:
I wouldn't say that. Some of us didn't want to open that can of worm with him.



If he was offered $75K for his Nova then I say good for him. Personally I would have taken the $$ but I respect his decision to keep the car.
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Bret,

It was not easy, but since it was not an investment and because of its history ( wife's family ) there was and still is no price on this car. :wavey



Here are 3 of our toys collecting dust. Sorry for the poor lighting but the windows are normally covered to protected from UV.
 
As blkz28 identified, the collector car market usually goes through phases. Having been involved with an auto museum for the better part of 8 years during the muscle car craze (1988 - 1996), I've seen ridiculous offers on cars that shouldn't have been worth more than a used Honda...



Typically, an older car will become most desireable when the "kids" of that era hit mid-life. They usually get the itch to buy the cars that they grew up with, and since there aren't many around in good condition, demand exceeds supply and prices go up.



An example: Model A's and Model T's used to command big money in the late 70's and early 80's. Kids bought those cars in the 50's, then hit adulthood and wanted to relive their youth through their car. You wouldn't believe the money that some of these cars were selling for...now, they can be had for a fraction of what they were once selling for.



Another example: the guy that I worked for at the museum (he and his father owned about 400+ cars between the two of them) had a 1968 Shelby GT500KR Convertible 428SCJ, black/black/white. He bought it in 1977 for $2800. He never did a single thing to it, other than drive it and wash it (with Zip wax...ugh!).



In 1990 - 1992, we couldn't go anywhere in his car without having someone run up to us waving a checkbook and asking - "What would you take for the car? $50k? $75k? $100k?" And it was a heap - a daily driver! But, it was one of 318 cars ever built, and not many were on the road...



He did a full restoration of it in around 1996, and spent nearly $80k on the restoration...now, the car is worth, maybe $60k...but, he has no intentions of selling it - it's his baby (well, actually he and his dad have 4 68 GT500KR's, so I guess they could always sell a few extras).



Anyway, the ZR-1 will eventually come into its prime, and I'd guess that will take place sometime in the mid-to-late teens. It's usually just after the 20 - 25yr mark that cars really become desirable by the midlife crisis group. Remember, we were in a recession in 92, and people were still buying/selling muscle cars for big $$$$... :D



I say that if you can find a ZR-1 for under $20K and can afford to sit on it for a few years, it might be worth some cash in a few more...
 
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