Now The Driven ZR-1s Are Going Up - Another BAT Auction

[Erik]

A nice, but hardly perfect, 58,000 mile 1993 clears $28,000.

https://bringatrailer.com/listing/1993-chevrolet-corvette-zr-1-7/

[spork2367]

A nice, but hardly perfect, 58,000 mile 1993 clears $28,000.

https://bringatrailer.com/listing/1993-chevrolet-corvette-zr-1-7/

If you believe that BAT represents average selling prices, you need to do a little more exploring.

If BAT prices represented average selling prices for anything, you would also have to believe that the average selling price for a 1980's chevy blazer was 50k...

It's a fun site to watch, but it is on average 15-20% higher than current market value for almost everything...including other auctions.

[DRM500RUBYZR-1]

Sold prices continue to be much stronger than anytime in the past.

No mile, low mile, mid mile, even high mile ZR-1's are selling more quickly and selling at better prices.

Trend?

Who knows?

Safe to say that if you are thinking of buying, locate the gun with the trigger and make it happen.

Sellers?

Don't be in too big of a rush, they are not likely to go down.
Worst is they might flatten.

:cheers:
Marty

[G8nightman]

If you believe that BAT represents average selling prices, you need to do a little more exploring.

If BAT prices represented average selling prices for anything, you would also have to believe that the average selling price for a 1980's chevy blazer was 50k...

It's a fun site to watch, but it is on average 15-20% higher than current market value for almost everything...including other auctions.

In your opinion when do you think value rises what is proof to you?

[rush91]

I was at a stop light Sunday, and an old couple in one of those HUGE Ford F-250s stopped next to me. The guy signaled me to roll down the window. The wife leaned over from passenger seat and said " beautiful ZR-1, would you take $20,000 for it?" That's 3k more than I paid 4 years ago. Told him not for sale, and he gave me his # if I ever wanted to sell.

There is a slight uptick in prices for our Zs as of late. They haven't dropped, and the average selling price for a 50,000 mile or more Z is around $17,000- 20,000. 94-95s are going to be more, as well as 93 Rubies.

[spork2367]

In your opinion when do you think value rises what is proof to you?

Overall market statistical analysis. Which I did a year ago when people thought things were trending up. I'll do it again when I get a chance, but it's a significant amount of time.

Results from one auction site alone do not make a trend. Again look at relatively pedestrian and easily procured vehicles on there and you will quickly be shocked by the average selling prices. Who would believe that a 1990 Ford ranger with a 2.9L and 35k miles was worth 15k...

Want a better representation of the market short of a full up statistical analysis, go look at the Hagerty valuation. Flatlined from May 2020 to now on concours cars, flatlined from Jan 2020 on everything else with a dip before that. They aren't continuing to drop, but I don't see any data that suggests they are going up overall. There are still a lot of driver level cars going for pretty low money.

[LGAFF]

I oversee about 48K vehicle settlements a year, retail prices across the board are up almost 14% so cars in general are up in value. Only way to know for sure is a market value survey through someone like CCC, Mitchell, or if Cox Automotive/Manheim has data but so many of these pass through private hands its hard to say. I will say I have sold 2 ZR-1s in the last six months and values were up significantly.......... autotrader list prices are up over prior years also if you go look. The market is trending up without a doubt, I think performance has become so commonplace its about the experience and legend of the car... air cooled porsches are a prime example. Will you retire on a Z, nope... is there a good chance you wont lose money and might even make alittle if you bought in the last 5 years, yes.

[32ValveGuy]

The car had 16 and 17 year old date code tire's. There's more money to put into the car

[Vette73]

What's the deal with BAT ? On there website it says it only costs 99 dollars to list your car...Some others have said it cost around 400 and they don't accept every car..

It seems Z's are going for good money here..Heck, maybe I should have put mine on hear before I sold it privately...

[Z51JEFF]

Overall market statistical analysis. Which I did a year ago when people thought things were trending up. I'll do it again when I get a chance, but it's a significant amount of time.

Results from one auction site alone do not make a trend. Again look at relatively pedestrian and easily procured vehicles on there and you will quickly be shocked by the average selling prices. Who would believe that a 1990 Ford ranger with a 2.9L and 35k miles was worth 15k...

Want a better representation of the market short of a full up statistical analysis, go look at the Hagerty valuation. Flatlined from May 2020 to now on concours cars, flatlined from Jan 2020 on everything else with a dip before that. They aren't continuing to drop, but I don't see any data that suggests they are going up overall. There are still a lot of driver level cars going for pretty low money.

Prices are on the rise for C4s in general,no disputing the facts. Going down anytime soon,I don't see it happening. On the rare occasions I do see a clean C4 out on the street it does remind me just how clean the early cars look and I do think others are also seeing the attraction.

[DRM500RUBYZR-1]

What's the deal with BAT ? On there website it says it only costs 99 dollars to list your car...Some others have said it cost around 400 and they don't accept every car..

It seems Z's are going for good money here..Heck, maybe I should have put mine on hear before I sold it privately...

BAT has two price scenarios.
The $99.00 is where you take the pictures, the $400.00 is they send out a "professional" to take the pictures.
Either way, the final decision to accept the car is made by BAT.
They also decide how high of a reserve you can set.
I am not fond of the "no soup for you" approach.
Many love it however.
:cheers:
Marty

[spork2367]

I oversee about 48K vehicle settlements a year, retail prices across the board are up almost 14% so cars in general are up in value. Only way to know for sure is a market value survey through someone like CCC, Mitchell, or if Cox Automotive/Manheim has data but so many of these pass through private hands its hard to say. I will say I have sold 2 ZR-1s in the last six months and values were up significantly.......... autotrader list prices are up over prior years also if you go look. The market is trending up without a doubt, I think performance has become so commonplace its about the experience and legend of the car... air cooled porsches are a prime example. Will you retire on a Z, nope... is there a good chance you wont lose money and might even make alittle if you bought in the last 5 years, yes.

They've been flatlined for awhile. I'm not saying they aren't on the rise, I haven't run the current data, but BAT sales alone are a terrible indicator.

I would say that the zr-1 is gaining popularity and prices will follow, but I don't think they are skyrocketing. I also don't believe that new owners know what the costs of maintenance and upgrades are.

The market trending up doesn't necessarily correlate to zr-1 prices, as we've all seen for years. Air cooled porches are not a great example in my opinion. Totally different supply/demand curves. And their "to the moon' pricing died about two years ago. They actually dropped in 2020 back to 2018 prices. They are flat to slowly rising now.

What's the deal with BAT ? On there website it says it only costs 99 dollars to list your car...Some others have said it cost around 400 and they don't accept every car..

It seems Z's are going for good money here..Heck, maybe I should have put mine on hear before I sold it privately...

Zr-1's are bringing good money on there. However, you as the seller don't have a lot of control.

Prices are on the rise for C4s in general,no disputing the facts. Going down anytime soon,I don't see it happening. On the rare occasions I do see a clean C4 out on the street it does remind me just how clean the early cars look and I do think others are also seeing the attraction.

I don't think they are, or if they are it is VERY recent. I think they will rise as people look for cost effective performance. I attached a current 3 year valuation chart for 1996 LT4s. It's pretty much dead flat.


I am not fond of the "no soup for you" approach.
Many love it however.
:cheers:
Marty

I don't care for it either and I want to know who is paying some of the astronomical prices for Ford F150s and other totally mundane average mileage vehicles. The audience must be pretty freaking large.

[Young1]

I agree on the large audience. I think you are more likely to get a better auction price at this time on BAT than Mecum or BJ. However to private sell I would go with Facebook market place first then Hemmings second.

[LGAFF]

Three or four years ago my 1992 ZR-1 with 24K miles best offer was 18500, sold it last year for just north of $24K(multiple offers in that range) and I think its actually worth more now... I see a few of my comments were of course taken out of context.... I didnt compare ZR-1 values to air cooled porsches, my point is people arent so much focused on performance as the history of the car..... air cooled porsches are hardly competitive with newer cars people love them for the experience.... I think more people are interested in the Z for the same reason... and thats why prices are up.. as I noted you arent going to get rich on a Z but likely wont lose money.

[AndrewL]

I'm one of those who doesn't care if prices go upor not, but I do wonder if factors such as a DOHC C8 being around the corner, these cars reaching 30 years of age (making them more desirable in other countries where they can be registered at lower cost as classic vehicles), and less people spending money on travel due to covid meaning they have more disposable incoke for things such as cars are factors in possible value increases.

There's a 5k mile up on BAT now, will be interesting to see how it goes.

[Mystic ZR-1]

The 5k mile ZR-1 on BaT... Nice car, but, something doesn't look right on the photo showing the bottom of the motor and catalytic converters? The O2 sensor on the passenger side, is right out there like the drivers side. Like others, I struggled to replace the passenger side one on my car, if it was like this car it shoulda been EZ? Driver's side took maybe a minute to replace. Passenger's side? Not a fond memory.
I suppose I could go out in the garage and look at mine to see if it's different but I'm too lazy, besides, it's cold out there... Please, no comments on my mechanical ability... I know which end of a screwdriver to pound on with a hammer... :)

[JSad]

I picked up my 91 Artic White #0210 with 53k miles on it a couple of years ago for $11,900 from a Dodge dealer in Chandler OK. Poor thing had a rough life up to then. At the time Oklahoma area daily drivers asking prices were around 20k. I have rebuilt the tranny, new clutch, general tune-up, fixed a few oil leaks, added catback performance exhaust, light weight flywheel, Haibeck chip, ZF Doc short shifter, and new weather stripping. It still needs a little interior work, and some paint and light body work. I will have about 20k in it when I am done with the first round of project work.
Seeing the prices slowly creep up is nice even though I don't ever plan to sell it. That encourages me to start thinking about the second round of projects...more power, 4:10s...it is only an investment in fun.

[Prez1967]

100k mile 1991 ZR-1 live today! Already at $15k

https://bringatrailer.com/listing/1991-chevrolet-corvette-zr1-11/

[LGAFF]

I think the lack of new car production drove some to revisits favorites from the past..... great to see!

[Prez1967]

I think the lack of new car production drove some to revisits favorites from the past..... great to see!

NO ONE wants to deal with current car technologies for the long term.

Our Z cars are beautiful to drive and maintain so many years later. Imagine even a late model C7Z in 20+ years with 100k miles.... nope

[Arctic91]

100k mile 1991 ZR-1 live today! Already at $15k

https://bringatrailer.com/listing/1991-chevrolet-corvette-zr1-11/

That's my old car (2007-2019)... my first Corvette. It was my fair weather DD for most of that time and was supremely reliable. The car and this group completely changed my perspective and calmed my initial concerns about LT5 reliability and maintenance.

Would love to buy it back, but it looks like it it's going to bring more than I expected when I first saw it listed today.

Scott

[Matt B]

Very nice color combination. Plenty of white Z's on BAT! I never considered white as an appropriate color for that car but now I even start liking it.

What would you think are the most "classic", the most expensive (because most sought after) and least valuable color combination?

E.g. over here THE thing is triple black. Not sure why but the distinct style of an average hearse drives people nuts. My Mark III instead is a true 70s classic in Pastel Yellow over a medium brown interior. And it is ... pretty much impossible to sell.

So, what about the ZR? Does color play a role at all?

[efnfast]

People want the cars they had as kids. Nobody owned these.

[G8nightman]

Very nice color combination. Plenty of white Z's on BAT! I never considered white as an appropriate color for that car but now I even start liking it.



What would you think are the most "classic", the most expensive (because most sought after) and least valuable color combination?



E.g. over here THE thing is triple black. Not sure why but the distinct style of an average hearse drives people nuts. My Mark III instead is a true 70s classic in Pastel Yellow over a medium brown interior. And it is ... pretty much impossible to sell.



So, what about the ZR? Does color play a role at all?



Admiral blue and yellow seem to be sort after in the Z community but that is just an opinion.


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

[Arctic91]

Very nice color combination. Plenty of white Z's on BAT! I never considered white as an appropriate color for that car but now I even start liking it.


I think that there were only an estimated 17 White/Saddle made in 1991. Not a very common combo - red, black and grey were far more common interior colors for the white cars. I always liked the Arctic White on a C4!

Scott

[Arctic91]

People want the cars they had as kids. Nobody owned these.

The cars they had, or the cars that dreamed about but thought they could never have...

Scott

[DRM500RUBYZR-1]

The cars they had, or the cars that dreamed about but thought they could never have...

Scott

Absofreakinlutely!!!!!!!!!!!!!!!

You can take that to the bank and bet the farm on it!!!

:cheers:
Marty

[32VALVS]

Very nice color combination. Plenty of white Z's on BAT! I never considered white as an appropriate color for that car but now I even start liking it.

What would you think are the most "classic", the most expensive (because most sought after) and least valuable color combination?

E.g. over here THE thing is triple black. Not sure why but the distinct style of an average hearse drives people nuts. My Mark III instead is a true 70s classic in Pastel Yellow over a medium brown interior. And it is ... pretty much impossible to sell.

So, what about the ZR? Does color play a role at all?

I find Admiral Blue to be the most striking color with Black on Black in second.

[efnfast]

The cars they had, or the cars that dreamed about but thought they could never have...

Scott
Then I guess nobody dreamed about our cars, because they certainly are not highly desirable.

[Matt B]

Admiral Blue... Over red Interior... Insanely nice. But also very special and for sure not everyone's first choice ;). On Mecum there was a Yellow over red one. Damn, that was a funky car!

I agree that things go up in value that were most desirable to Kids about 30-40 years ago. Be it BMX bikes, Atari computers, certain toys, whatever. These guys (like myself) do have the money today to live their dream. Like driving an A-Team van, the truck of The Unknown Stuntman, etc. Doesn't mean that the things must have been the latest new stuff back then but must have been popular and hard to get.

That's by the way an issue with the C4 over here. Generally, no matter which stage. Corvette were very common in red light districts in 80s and 90s, pimp cars long before Hip Hop made pimp cars kinda cool. Just now when these inglorious days become forgotten the appreciation rises. However, only few kids dreamed of a C4 Corvette in the 90s... They did of air-cooled Porsche. But that's another story ;)

[Arctic91]

Then I guess nobody dreamed about our cars, because they certainly are not highly desirable.

I disagree, but everyone will have their own opinion and definition of how to define "desirable".

As a personal story/example: In 2006-2007, I became serious about selling my sport bike and buying my first Corvette, but I knew that I wanted something that was a little unique. I was considering a C5 Z06, but they were still pretty expensive, so I decided to check out the C4 options. I had kinda forgotten about the C4 ZR-1 and all the articles that I'd read about them when they were new and "king of the hill". After some additional research and thought, I became convinced that it was the car I wanted. Basically, I just needed to remember the details of the car and how I felt about them when I was younger, and get some re-assurance that it would be something that I'd be able to maintain, before I transitioned from "looker" to "buyer". I think that there are MANY others who lusted after the car when they were younger, and who would be interested in owning one today if that passion was rekindled. Not everyone, but many.

:cheers:
Scott

[jcruz]

My very similar 91 (color, mileage) just sold on BaT prior to the 93 mentioned in the OP.

https://bringatrailer.com/listing/1991-chevrolet-corvette-zr1-10/

Sale on mine was 25% less -- $21,000. In hindsight, a couple things hurt the price, and I was surprised to see the 93 went for over 28k!

I opted for the "professional photographer"...wouldn't do that again.

John

[32valvesftw]

I think BAT is unique in that it is very popular and that drives up the bidding, but the comments section can be brutal and that can crater an auction as well. If the seller does the work to describe the vehicle properly and stays on top of the comments then I think it helps the results. Also due to its popularity it has become a leading indicator of pricing.
If you look at some of the competitor sites like Cars and Bids or Radwood's new auction site, the prices in general are not that great. I don't think either site has had a C4Z listed though.

[Z51JEFF]

Regardless of what somebody says,I don't a chart to see prices are on the rise,prices I haven't seen in years.

[rush91]

A good example is Gateway Auto. I bought mine there in 2016 for about 18k..... it had 35,000 miles and was all original. No matter what one thinks of Gateway Auto ( they are overpriced and not very friendly ), have a look at all of their ZR-1s, form any of their locations. They don't have one priced under $28,000, with MORE miles than mine had. The only reason I bought mine from them, because it was the only Z for sale within 400 miles of me..... But at the prices they have now, I wouldn't fathom dropping $28,000 for a ZR-1. That's what a good, clean used C6 would go for now.

No matter what anyone tries to say, prices are on the rise. Not a crazy rise, but a slow burn of a rise.

[32ValveGuy]

I think BAT is unique in that it is very popular and that drives up the bidding, but the comments section can be brutal and that can crater an auction as well. If the seller does the work to describe the vehicle properly and stays on top of the comments then I think it helps the results. Also due to its popularity it has become a leading indicator of pricing.
If you look at some of the competitor sites like Cars and Bids or Radwood's new auction site, the prices in general are not that great. I don't think either site has had a C4Z listed though.

I believe a 1988 ZR-1 prototype sold on Cars and Bids for $75k

[CamP]

I was at a drag race a few months ago and my car got mobbed by a group of 20-somethings. I was kind of shocked that they were excited to see it and also knew most of the technical stuff about the engine.

[Z51JEFF]

Very nice color combination. Plenty of white Z's on BAT! I never considered white as an appropriate color for that car but now I even start liking it.

What would you think are the most "classic", the most expensive (because most sought after) and least valuable color combination?

E.g. over here THE thing is triple black. Not sure why but the distinct style of an average hearse drives people nuts. My Mark III instead is a true 70s classic in Pastel Yellow over a medium brown interior. And it is ... pretty much impossible to sell.

So, what about the ZR? Does color play a role at all?
Color does make a difference somewhat in price. Some are looking for a very specific combination while most have a few colors in mind. I wanted a white 91 but wasn't specific on interior color. I see you have 1991 #638,I have #634 and #632 was about 20 miles from me for awhile.

[rush91]

I was at a drag race a few months ago and my car got mobbed by a group of 20-somethings. I was kind of shocked that they were excited to see it and also knew most of the technical stuff about the engine.

This exactly. The younger crowd love the C4.

[Matt B]

Color does make a difference somewhat in price. Some are looking for a very specific combination while most have a few colors in mind. I wanted a white 91 but wasn't specific on interior color. I see you have 1991 #638,I have #634 and #632 was about 20 miles from me for awhile.

Cool, always nice to meet a neighbor :)

By the way - surprisingly there is an article on the ZR-1 in a recent German US car magazine. It's the lead article featuring a dark red metallic 95 on various pages and clearly reiterating the former statements on the ZR: superior not only on the straight line but also in curves, better than Porsche and Ferrari of it's time, classy high tech monster with great behavior instead of being an (Italian) diva chasing your life, ahead of it's time and even today more than competitive. In short: they love it!
I'm sure it's just a matter of time that appreciation over here - and thereby value globally - will raise.

[Erik]

Cool, always nice to meet a neighbor :)

By the way - surprisingly there is an article on the ZR-1 in a recent German US car magazine. It's the lead article featuring a dark red metallic 95 on various pages and clearly reiterating the former statements on the ZR: superior not only on the straight line but also in curves, better than Porsche and Ferrari of it's time, classy high tech monster with great behavior instead of being an (Italian) diva chasing your life, ahead of it's time and even today more than competitive. In short: they love it!
I'm sure it's just a matter of time that appreciation over here - and thereby value globally - will raise.

Very cool.
Do you have a link to that article?

[Matt B]

It's a paper magazine... But let me investigate if there is an electronic version, too.

[TX '90 ZR1]

100k+ White '91 just went for $18,500 on BAT.
:cheers:

[Bob-SoCal]

It has been a crazy year in the auto business, as a whole the used car market has been VERY strong the last 12 months, many used cars selling for a good 10% over wholesale market a year ago, usually I expect DOWN 10 to 20% a year MANY manufacturers have had plant closures due to covid and resulting parts shortages so supply is down substantially and for demand is up, interest at 3% loans sure helps so prices were bound to go up I was a dealer for many years, still talk to my old buddies still
working . As far as restored older cars, when restorers are charging $100 a hour the cost to restore anything is thru the roof