Quote:
Originally Posted by spork2367
The ONLY person who knows what the car is worth is the buyer waiting out there to pick it up. It's worth what someone is willing to pay. And as long as it remains unsold, that number remains undetermined. Everything else is just an educated guess.
That being said, I'm not the only person on the forum who thinks that number is unrealistic. I'm not even the one who brought it up in this thread. And there have been lots of members who shared my opinion in other for sale threads.
I threw my estimate out in post number 17. I think 32,500 is about where the market is at on a car like that.
This is the most common exterior color for that generation and second most common color over all the production and probably one of the least desirable color combinations. Pretty much any ZR1 with more than 1000 miles on it is a driver in the current market. Unless you're willing to take a big gamble and have money to spend. If that 40k were put towards a clean 911 you'd have a car that was almost guaranteed to appreciate.
And a sale 4 years ago isn't a sale today. If you have to wait two years to sell a car when advertised properly, it means that you're probably asking more than market value. Eventually with any collector car, you can find someone to pay too much. That takes more time.
They just aren't selling for what people are asking. And the valuation guides haven't caught up yet to the drop in the market.
4-5 years ago I bought a parts car (repairable), with a salvage title, 80,000 miles, just rear fiberglass damage for 10k. I picked it up on my trailer. Very clean car aside from the damage. New injectors and fuel pumps in the last year before it was wrecked, well maintained.
Two years later I bought a complete engine on here, ECU to oil pan, 120,000 miles for 2300.00.
A couple weeks ago I bought another parts car. 29,000 miles, clean title, suspension damage in one corner. New NOS front and rear bumper covers, NOS rear surround, original wheels and original tires in like new condition (weren't on the car when it was wrecked), original windshield with no delamination. 7500 shipped from the state of Washington to PA. So take 1200 out for the shipping and I paid 6300.
I just bought a NOS 1991 engine harness for 390.00.
The market has dropped out on everything ZR1. Look at the memorabilia for sale on here right now. People are cashing out of everything ZR1, including cars. When I can pick from 20 extremely nice ZR1s any day of the week, a car like this isn't going to bring 40k.
Change the color to black rose and drop the mileage to sub 2500 and I think he'd have a 37k car.
That being said, I'm finished in here. I started a valuation thread for this discussion but both sides would rather discuss it in the for sale section.
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So let's summarize your basis for your "Estimate".
Because your personal experience in buying salvage or in common parlance, junk, has seen low or falling prices, you conclude that near museum quality or concours capable car values behave the same way.
Really?
Why not this.
As junked ones become less expensive because they are more plentiful, the population of remaining quality ones diminishes. As this trend continues, the only result is higher prices for those that remain.
At any rate, there will always be buyers at both ends of the spectrum.
Some want cheap, while others want the best.
Neither buyer has much interest in the other.
Price is determined as much by supply as it is by demand.
My first comment on this topic was " they are not making more of them".
As time goes by, that will continue to drive the price more and more.
OP - Yet Again; Beautiful car, and GLWS!
Marty