The Price of a ZR-1

[Polo-1]

What's the going price of a under 250 mile ZR-1

As most of you know I have (had) a 1990 ZR-1 with 179 miles. It is an amazing car, the smell; color, feel, and all your senses go crazy in the presences of it. A true step back in time. This is a car that I was going to try out the NCRS part of the car hobby. I did not have much luck getting in with my local group. Apparently it's a who you know kind of thing? I guess I did not fit the C-1, 2 or 3 classes..

I tried here and there to sell it not with a big urgency, just was time for it to go. I had all kinds of good and bad words about my car. The good, "amazing find" the bad, "that thing will never run right" you never be able to get a State title. It was a MSO car. I'll give you $36 for it. That was the best offer, it just went down from there. The car was worth way more to me. I knew it, I felt it. Anyone who had come by to see the car was just floored by it. It's that kind of shape. The small things like, paper tags with part numbers still on vacuum lines. Words are hard to find to fully convey this car.

The BJ and Mecum even eBay do not paint a good picture for these cars. I had to do something I never tried before..

Consignment.....

Well, it worked. It worked VERY WELL.

They sold my car in under 2 months, for $50. That's right $50,000.00 for a 1990 RED/RED ZR-1.


For those who think these cars are worthless, hold out. Find the right place to help you. It makes the difference.



I wanted to do a KOTH newsletter story, but not sure if I could anymore? I have so many ups and downs drama with this car, it's almost funny. In the end everything worked out.

Kevin
My last ZR-1 is gone...
All my parts.... gone.....
My Friends made here... Hope to still visit time to time

[Kevin]

just because you sold the car doesn't mean you have to leave us. we'd miss ya

[LGAFF]

Nice! Is there a future plan for the $50K or are you doing something stupid with it; like investing it?


Congrats Kevin!

[ZZZZZR1]

Kevin,

Congrats!!!! (very fair price for the "RIGHT" car) You are what a true enthusiast is and a class act to boot.... Hope you still will come around and help with advice as you have done in the past.

Take care

David

[tf95ZR1]

Still and always a friend. Stay on board and post up.
You know more about ZR-1's and LT5's than most of us.
Gonna get another one some day? You can't be "done"
It's in your blood. Say it's an investment for your baby.

[Z51JEFF]

Great to hear.That must have been a big kick in the a$$ to have a $50,000 offer.Great outcome on this one.

[Blue Flame Restorations]

Glad to see someone got what they felt a car was worth to owner. Excellent!

[USAFPILOT]

Now go buy one with about 50K milkes on it for 20K incest the other 30K and drive the bejeezus out of it. I think you missed out on the most fun part of ZR-1 ownership.
:cheers:

[HIZNHRZ]

Kevin, congrats. I'm happy for you. Enjoy your Z06 and best wishes to you and your family.

[4DSZR1]

That's great news Kevin. Thanks for sharing it, and I hope you don't go too far away from the ole ZR-1 group
Rick

[Polo-1]

Thanks Guys
It just gets to you, the Debbie Downers.... You can't sell a ZR-1 for that kind of money today........ BS, I did.

These are a great car, and have a great site to chat. Most here are good people. I hope to make it to BG for the 25th.

I hope someday, I'll have a LT5 ZR-1 again. Matt knows I get first crack at the AB car ;)

Nicolas might want it for his drivers test in 14.5 years:p

http://i7.photobucket.com/albums/y292/kpie/IMG_2096.jpg

[jcruz]

That's encouraging -- thanks for sharing! I'm trying to sell a 1992 Z07 at the moment and it can be pretty frustrating.

Any other details to share about your consignment experience? I'm guessing it was a local consignment business? How did they help with the sale? I'm assuming they stored the car properly? What did they charge?

[tomtom72]

I am so happy for you.....Good on you Kevin!:handshak:

I just hope that you will stick around. You know you just can't leave, right? You are a Brother of The Beast!

Oh, love the picture. Nick looks good in AB!!!!

:cheers:
Tom

[Z Factor]

For those who think these cars are worthless, hold out. Find the right place to help you. It makes the difference.



I wanted to do a KOTH newsletter story, but not sure if I could anymore? I have so many ups and downs drama with this car, it's almost funny. In the end everything worked out.



First of all you stuck with your gut instead of listening to all the naysayers, so you deserve a pat on the back for that alone. Just as the C-1's and other generations sold dirt cheap, they now command a kings ransom. While some people do not have the luxury to sit on their ZR-1's and wait for those days, you proved it can be done, even in this economy. Had you held on to it, it would have sold for even more in the future. Regardless you received what you felt it was worth today.

As to the newsletter, I suspect they would love to have any material for it. Yours is an interesting story, so by all means submit it.

I am glad to hear you will be hanging around the forum. I suspect the bug will once again bite you.

:cheers:

[scottfab]

This is probably old news to most. I just saw an episode of Mecum auto auction. They had a red 90 with low miles go for $20k and called it a "steel" at that price.

Without a doubt these cars will go up. No doubt what has held it up has been the reliability and problematic nature of the beast. Since when does that limit resale in the long run. Look at the XKE jag.

Good to hear about your car Kevin.=D>

[rhipsher]

Thats what happens when a ZR-1 guy moves up to a C6.:???:

[902066]

Congratulations on the sale. The original owner probably paid 100 thou. for that car new in 1990, I see no reason for it not to be worth 50 now, being that it is still new and original.
The only question I have is do you have anywhere near 50 in it? Did you make a lot on it, or pretty much brake even? Regardless somebody wanted a new ZR-1 and got it, congrats to you. Hopefully you'll be back.

[Kevin]

Thats what happens when a ZR-1 guy moves up to a C6.:???:

i'd consider that a downgrade

edit: never mind i've been told we're talking about a z06

[rhipsher]

i'd consider that a downgrade

edit: never mind i've been told we're talking about a z06 Kevin I thought you bought a blue C6. Maybe I'm thinking of somebody else on here.

[Kevin]

Kevin I thought you bought a blue C6. Maybe I'm thinking of somebody else on here.

I only own one vette and it's my ZR-1. now I think another kevin on the board may have bought a c6.

[A1990]

Polo-1(Kevin) does have a C6Z06 and its blue.

[xlr8nflorida]

I am happy for you. I was one of the naysayers.

There are good deals for buyers and good deals for sellers. You paid 30ish and sold for 50k. That was a good deal for you as the seller and in my opinion not a good deal for the buyer as he overpaid when you look at the zr-1 market.

That being said, he parted with the 50k and he got what he desired so everybody is happy.

The real market value as you well know is in the 30s. Your car was for sale several times over the past two years and it never typically got offers above low 30's.

You are allowed to get lucky and find a seller who pays too much but that does not mean the car was worth that kind of $$.

Do you have link where the car sold?

What consignment place sold the car?

What % did you have to pay?

Roger's Corvettes in Maitland has had 90 ZR-1's at the 50K level for probably a decade.

You must have caught a "live one"


Again, congratulations.

[gmonsen]

First, great sale and great price. Whoever bought the car is someone many of us would like to meet, but seldom do.

However, while I am a true believer in the long term value of the ZR1, the market today shows that this price is a serious outlier. I have been looking for a ZR1 for several months. I have about 15 ZR1's on my ebay watch list. I have multiple windows up at all times with cars.com, autotrader, ZR1net and others all up and study them every day. Asking prices range from $15,000 to $75,000. Two are at about $50,000 and then it drops to 40-ish. Most pricing is $20-30,000 for 1990's, with newer cars edging up and probably averaging in the lower-to-mid $30's.

The thing is that they are not moving or moving very slowly. I have narrowed my search down to 3 1990 cars with asking prices from $26-28,000 and they are all low mileage cars that are almost as new. Eat-off-the-struts clean. So. while I think these cars will go up in value over time, the economy is probably hurting values a good deal today, combined with the fact that, outside the Corvette community very few collectors of sports cars like Porsches, BMW's, Ferrari's, etc, have any idea what a ZR1 is, and that group is more willing to spend the "right" money for cars like this.

Anyway, good sale.

Gordon

[rhipsher]

Polo-1(Kevin) does have a C6Z06 and its blue. Thanks Dennis. I knew I wasn't going crazy. I remember seeing pictures of it with snow on it.

[rhipsher]

Hey! If Kevin got $75k for it Id high five him twice. Good for him. How many untouched 250 mile factory ZR-1s exist? A few maybe. And to a purist collector its worth every penny of $50k in my opinion. Who knows? In another 20 years it could be on display on a spinning platform at the autorama worth 1million dollars and he will have the last laugh.
If I had $50k burning a hole in my pocket Id rather have an LPE car with mega hp with plenty of change left over instead of a virgin never driven stock 325rwhp car. But that doesn't mean the car isn't worth the money. Kevins laughing at the naysayers all the way to the bank as he deposits a big fat check. Awesome Kevin you were patient and it paid off big. Right on.:cheers:

[GOLDCYLON]

Awesome glad to hear Kevin. It was worth evry penny. A true NCRS dream car!!!!

[Polo-1]

This was never about if I made money on a car or not. It simply was what is a NEVER titled, 179 mile ZR-1 worth. I had offers as low as 25K... Come on REALLY.

I cried at the LPE TT car for $40k. These cars are WAY under valued.

This was one of my fav's I saved.

you seriously want $36000 for that thing???? dont know if youve checked around but you would be lucky to get $8000 for that old thing. For that kind of money you could get an 07 vette or an 05 viper if you shopped around. just thought you should know you will NEVER get close to that kinda money for a 90s corvette.

I wont ( cant write my reply ) here;)


Consignments are all about the same. From what I have seen.

10% of sale price.


For me I was happy, It was getting old with the comments above. It took them 2 months to sell the car. They sold the sister car last year for $49500.00 It was Black with 135ish on the clock.

As far as Roger's. He gave me no respect on my car, he did not get my car to sell. I was looking at the Yellow 95 he has as a possibility.

Yes, I have a 07 Z06. It's not a replacement for the ZR-1. Too many years apart for tech changes.

http://i7.photobucket.com/albums/y292/kpie/DSC_0513.jpg

My Girls are gone.. I think I already miss them....

http://i7.photobucket.com/albums/y292/kpie/12-06-08004.jpg

[mike100]

Do you know anything about the buyer?..collector or driver? I'd imagine for the premium paid, he's gonna keep it as is- that's my guess.

[LGAFF]

http://www.youtube.com/watch?v=GNEcQS4tXgQ

[Polo-1]

No, I don't have any real info on the guy/gal. Just one of their good clients.

LOL Lee

[Pete]

Kevin,nice.:cheers:

Keep me/us posted on your C6ZO6 mods and performance i'm very interested to know mods/performance on your new Z.

Pete

[cvette98pacecar]

I am happy for you. I was one of the naysayers.

There are good deals for buyers and good deals for sellers. You paid 30ish and sold for 50k. That was a good deal for you as the seller and in my opinion not a good deal for the buyer as he overpaid when you look at the zr-1 market.

That being said, he parted with the 50k and he got what he desired so everybody is happy.

The real market value as you well know is in the 30s. Your car was for sale several times over the past two years and it never typically got offers above low 30's.

You are allowed to get lucky and find a seller who pays too much but that does not mean the car was worth that kind of $$.

Do you have link where the car sold?

What consignment place sold the car?

What % did you have to pay?

Roger's Corvettes in Maitland has had 90 ZR-1's at the 50K level for probably a decade.

You must have caught a "live one"


Again, congratulations.

I don't know about a live one, but an investor who knew what he was getting. lets be honest Kevin stored and cared for this car for the last 20 years. I know that feeling I have a low mileage pace car. The investor who bought the car purchased a brand new never titled ZR1 for .50 cent on the dollar and didn't have to maintain or store it for the last 21 years.
The economy will get better and when it does collector car prices are going to sky rocket again.

[xlr8nflorida]

I don't know about a live one, but an investor who knew what he was getting. lets be honest Kevin stored and cared for this car for the last 20 years. I know that feeling I have a low mileage pace car. The investor who bought the car purchased a brand new never titled ZR1 for .50 cent on the dollar and didn't have to maintain or store it for the last 21 years.
The economy will get better and when it does collector car prices are going to sky rocket again.

He only had it a few years and to be honest, the oil was never changed in it when Kevin owned it. (per his comments on this very board)

[cvette98pacecar]

60K was the sticker price. If I remember correctly all dealerships were asking 30K to 40K over sticker. The only way either of Kevin car were purchased for 60K was if he owned the dealership.
And if he owned the dealership the bought the cars he also purchased a crap load of VL Cavilers.

Does anyone know how many Value leader Cavilers you had to buy for every Corvette on the lot?

[Kevin]

60K was the sticker price. If I remember correctly all dealerships were asking 30K to 40K over sticker. The only way either of Kevin car were purchased for 60K was if he owned the dealership.
And if he owned the dealership the bought the cars he also purchased a crap load of VL Cavilers.

Does anyone know how many Value leader Cavilers you had to buy for every Corvette on the lot?

the first owner of my car payed cash and sticker


of course he bought a blazer with it

[Polo-1]

It was Dean Stallings Collection Car. He had 9 ZR-1's I think. I have no way of knowing for a 100% sure if fluids were changed. I did do a BlackStone oil analysis. It was fine. I did wind up changing fluids anyway. I through good fluids down the drain. Whatever, it was done. I owned it for almost 2 years.

As for a story:

I have first hand knowledge on no mile Z's, what breaks what does not. I also know what they are worth. I know how to fix any and all problems with them. I know how much one can expect from parting one out.
I'm I a ZR-1 expert..no, but I'm pretty good with them.

On my 100 point scale, this car was a 99 point car. Only thing missing or not working was the original battery.

Is $50k for this car a buy or a steal. For today it's a good buy and a good sell.
If I find one like it for a STEAL ($35-$38) I would buy one again.

What will they be worth in the future ?? I don't know. My crystal ball does not work that far out.

[rudolph schenker]

Congrats on the sale. I'm glad it worked out well for you. :cheers:

[Locobob]

Glad to hear you made some money on that car Kev.... although I'm a little sad to see you sell it.