1/23 Mecum Results, WOW

[Young1]

Precast1 and I just returned home from the auction of the Muscle Car City Museum in Punta Gorda, FL. All cars were prepped for museum display only
and were not driven across an auction block. They are all in an unknown non running condition. Prices include the 10% buyers premium.

$60,500. 1996 Grand Sport convertible. 640 miles. Immaculate condition
$41,800. 1992 ZR-1 37k miles. White. Fair to good condition
$40,700. 1991 ZR-1 8k miles. Yellow. Fair to good condition
$38,500. 1991 ZR-1 18k miles. Red two tops. Fair to good condition
$29,700. 1990 ZR-1 87k miles. Red. Rough to fair condition
$24,200. 1990 ZR-1 39k miles. Red. Rough to fair condition

[Demps]

WOW is right. Those prices are strong.

I'm going to downsize and would really appreciate those prices.

Ted

[Erik]

Has a corner been turned? I wouldn't complain.

[Z51JEFF]

Friend just sent me a link to the 92 with 38,000 sold for $37,000. When was the last time anybody saw prices like this,15 years ago? Makes me want to go out in the garage and just stare at mine. Looks like the drought is over.

[Erik]

Friend just sent me a link to the 92 with 38,000 sold for $37,000. When was the last time anybody saw prices like this,15 years ago? Makes me want to go out in the garage and just stare at mine. Looks like the drought is over.

It might be. That's a lot of cars at big dollars. Here's hoping the market notices.

[Young1]

We were hoping to pick up a non running used car for $10K. These were not show cars at all. We all know it can take up to $5k to get them safe and drivable. The entire 2 day auction there was inflated 20-40%.

[Erik]

We were hoping to pick up a non running used car for $10K. These were not show cars at all. We all know it can take up to $5k to get them safe and drivable. The entire 2 day auction there was inflated 20-40%.

I figured you were searching for another one to work your magic on. The prices are solid enough, plus taking into account how rough they seem to be.
Did you snap any pictures?

[rkreigh]

looks like a bit of bid fever to me. prices are not typical

[XfireZ51]

looks like a bit of bid fever to me. prices are not typical

Yeah Ron. Wonder if some of the premium was due to the fact these were museum pieces. The prices are not close to what we see on the ipen market.

[efnfast]

Show of hands, who would sell their car for 40 grand?
Aye.

[Prez1967]

Show of hands, who would sell their car for 40 grand?
Aye.

Not sure I would.

Granted Im a newer owner (just got mine back in July) and i've always wanted one. Mine may not be perfect but its likely in the same condition as the cars posted above, with 90k+ miles.

[DRM500RUBYZR-1]

Queue the Discover "NO" commercial.

https://www.youtube.com/watch?v=csas96J3U_A


:cheers:
Marty

[spork2367]

looks like a bit of bid fever to me. prices are not typical

Not typical of anything the market is doing on these at all.

And on top of the 10% buyers premium, there is a min. 5% sellers premium on no reserve auctions (10% on reserve auctions I believe), plus 500 to 1500 dollar listing fee depending on options. So that makes these the realistic prices. And subtract another 500-1000 for transportation fees to the auction.

$35,030. 1992 ZR-1 37k miles. White. Fair to good condition
$34,095. 1991 ZR-1 8k miles. Yellow. Fair to good condition
$32,225. 1991 ZR-1 18k miles. Red two tops. Fair to good condition
$24,745. 1990 ZR-1 87k miles. Red. Rough to fair condition
$20,700. 1990 ZR-1 39k miles. Red. Rough to fair condition

[Z51JEFF]

Show of hands, who would sell their car for 40 grand?
Aye.

I've got a hardon for a C8,absolutely love the car but I'd have to sell my Z and I don't see that happening but if interest in ZR-1s truely is on the rise along with values it's going to be difficult NOT to get the new car,I haven't even seen one yet. Granted,we know these prices were over the top but who cares,millions of people watched the show and that's got to peak some new interest.

[DRM500RUBYZR-1]

Those prices continue to remain below the typical "prices" our market continues to find and enjoy for quality cars.

Quality cars defined as having one or more of the following attributes:

1- outstanding condition
2- low or lower mileage
3- NCRS and or Bloomington Pedigree / Provenance
4- well documented repair and maintenance history
5- high quality modifications performed by recognized shops
6- rare colors or production numbers
7- evidence of "turn-key" current day of purchase performance readiness
8- all original paperwork and delivery items
9- production date > 30 years for reduced taxation for foreign (EU) sales
10- 6 or more of these attributes are the definition of the BEST ZR-1's

The exceptional prices the above command continue to elevate and support the rest of the market.
There are buyers with varying demands and budgets.
One current observation is an increased interest level for all ZR-1's.
We have discriminating buyers in the market for the best ZR-1's.

If you are considering the sale of a car fitting the above description with those attributes AND if you are willing to invest the time required to find the proper buyer for such treasures, reach out to me anytime to discuss your particular ZR-1.

Time continues to make these incredible cars more and more desirable to those who appreciate exactly how special these Corvettes truly are.

:cheers:
Marty
Contes Corvettes and Classics
Since 1974

www.contes.com

[jcruz]

Show of hands, who would sell their car for 40 grand?
Aye.

Well, I have 2, so yeah, I'd take 40k for one of them ;-)

[bowtiguy]

I figured you were searching for another one to work your magic on. The prices are solid enough, plus taking into account how rough they seem to be.
Did you snap any pictures?

I have to agree. between interior shots ( shifter, console, etc) and engine bay shots. These cars appeared to be purchased and parked.

Speaking of values, did anyone notice this car sell on hemmings last August? Pretty good taking out the live/in person bump in price figured into the muscle car city auction.

https://www.hemmings.com/auction/1993-chevrolet-corvette-1

[Vette73]

30-40K for ZR'1s in fair to good condition ? Lets be honest...I think a lot had to do with the fact it was a " muscle car museum piece"
I have my 91 blk/blk with over 500 HP for sale at 22.5K and its in excellent condition...Excellent, not fair..

Gaurantee you take each one of these Z' s and try to sell on open market like I am, they would not bring close to what they got at the auction..

Just because they were in a museum does not mean they are well sorted....But hey, seems like a great deal for the seller..

[spork2367]

30-40K for ZR'1s in fair to good condition ? Lets be honest...I think a lot had to do with the fact it was a " muscle car museum piece"
I have my 91 blk/blk with over 500 HP for sale at 22.5K and its in excellent condition...Excellent, not fair..

Gaurantee you take each one of these Z' s and try to sell on open market like I am, they would not bring close to what they got at the auction..

Just because they were in a museum does not mean they are well sorted....But hey, seems like a great deal for the seller..

Agreed. And again, when those prices are adjusted for all additional auction costs, they aren't that great.

I have to agree. between interior shots ( shifter, console, etc) and engine bay shots. These cars appeared to be purchased and parked.

Speaking of values, did anyone notice this car sell on hemmings last August? Pretty good taking out the live/in person bump in price figured into the muscle car city auction.

https://www.hemmings.com/auction/1993-chevrolet-corvette-1

A 93 40th anniversary addition with low mileage isn't exactly the standard by which to judge the rest of the market.

[G8nightman]

I always have a good laugh reading these value threads


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[spork2367]

I always have a good laugh reading these value threads


Sent from my iPhone using ZR-1 Net Registry (http://r.tapatalk.com/byo?rid=90383)

I always find them interesting, but what makes them funny?

[rush91]

I would love this to be the new normal, but it's not. Cars are one of the worst, no return investments one can make. If you can afford to buy a car and let it sit for 20-30 years, more power to you. But the chances of one getting what was paid originally or more, are amazingly slim.... it does happen but it's rare. The day they stop selling gasoline, is the day I sell mine. Until then, I'll drive the crap out of it and keep soaking in all the comments :)

[bowtiguy]

Agreed. And again, when those prices are adjusted for all additional auction costs, they aren't that great.

A 93 40th anniversary addition with low mileage isn't exactly the standard by which to judge the rest of the market.

But, it IS an indication of what a low mileage documented car sells for. This one didnt even appear to be in excellent condition looking at the images. Soiled carpets, floor mats, faded seat bolsters and worn shift knob handle, etc..

Are you saying that that the 93' Ruby cars are more desirable than the 11 other colors that ere produced in fewer numbers? Is it the 50th badge package or the matching interior color that looks like an 80's Chrysler TV add for "rich corinthian leather"? ( just my opinion on this one)

I think the $48K selling price WAS significant for a car they made 245 of. Especially since the sale occurred outside of a live onsite auction like the recent muscle car museum auction. The car did present with at least 5 of the attributes Marty outlined above. So, he may be on to something. :notworthy

[spork2367]

Are you saying that that the 93' Ruby cars are more desirable than the 11 other colors that ere produced in fewer numbers? Is it the 50th badge package or the matching interior color that looks like an 80's Chrysler TV add for "rich corinthian leather"? ( just my opinion on this one)

I think the $48K selling price WAS significant for a car they made 245 of. Especially since the sale occurred outside of a live onsite auction like the recent muscle car museum auction. The car did present with at least 5 of the attributes Marty outlined above. So, he may be on to something. :notworthy

Yes, that's exactly what I'm saying. Look at Grand Sport prices. They made 1000 1996 grand sports. They out sell zr-1s every day of the week, even the lowest production 1994 and 1995 zr-1s.

Marty is absolutely right, but that should be no mystery. Those are the metrics by which these cars are "judged." The only one I disagree on is the "high quality modifications performed by recognized shop." Those don't seem to add much value. I believe due the perception of being unoriginal, and being driven harder due to increased performance.

[precast1]

Well I will throw my two cents in. During the auction the phone and internet bidders out numbered the bids from on site. I reviewed a lot of the results of the Kissimmee auction and believe the values were on the high side. I think what we are seeing is investors have jumped into the classic car market to put their dollars in hard assets. Unlike us that love the cars and have some idea of what we are looking at investors are less critical. This is not the first time investors have moved into the market and temporarily inflated prices.

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[staminqia]

good to see these higher numbers.

[viper107]

Well I will throw my two cents in. During the auction the phone and internet bidders out numbered the bids from on site. I reviewed a lot of the results of the Kissimmee auction and believe the values were on the high side. I think what we are seeing is investors have jumped into the classic car market to put their dollars in hard assets. Unlike us that love the cars and have some idea of what we are looking at investors are less critical. This is not the first time investors have moved into the market and temporarily inflated prices.

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you are so right, remember 2002 to around 04,05- cars were bringing stupid crazy money, after those years they fell in half of value or more