Value of ZR-1

[gmonsen]

Actually, it may be the way things work. When prices get as low as they are now, it makes no sense for anyone to sell unless they are desperate for money. I think we've hit the point where most will hold off selling unless they have to sell. There are not that many decent ZR1's around and so prices will begin to go up. This is exactly what will happen unless I and so many others are wrong and the relatively rare ZR1's are really not very good cars. 10 years ago you could buy an E30 M3 in great shape for $15,000. They are now $50-150,000 depending on condition. 5 years ago you could buy a Ferrari Testarossa for $50,000. Today, the bottom prices are $100,000. How do you think prices go down so far and then go up? It ain't magic. It's supply and demand.

[KILLSHOTS]

Originally Posted by gmonsen

Again... We listen to ourselves too much. If sellers believe all they can get is, say, $15,000, then that's what they ask and maybe they take a bit less even. If sellers would ask $30,000 and not sell if they couldn't get $28,000, the market would strengthen. People who buy nice ZR1's now for under $20,000 will be seen to have stolen the car in a few years. Unless you have to sell -- Unless you MUST SELL NOW -- you should be asking $25,000+ for a decent car and not sell unless you get it.

Yep, that's it. People aren't asking enough for ZR-1s. Quick, everybody, raise your price by 10K and watch them fly off the shelves.

[Vette73]

Originally Posted by KILLSHOTS

Yep, that's it. People aren't asking enough for ZR-1s. Quick, everybody, raise your price by 10K and watch them fly off the shelves.

LMAO.....I actually did when I read your response ...I understand both points though...As the C-4 Z gets into the antique stage (25 years or older) you may start seeing an uptick in pricing....

Thing is,and some may argue, the C-4 generation is the least liked by most..If you look at a C-4 Z and a standard C-4 from the side, the only thing that is noticeable is the placement of the rear brake light and the rockers....Except from the back and the wide rear tires they are identical looking...

[edram454]

Originally Posted by gmonsen

Actually, it may be the way things work. When prices get as low as they are now, it makes no sense for anyone to sell unless they are desperate for money. I think we've hit the point where most will hold off selling unless they have to sell. There are not that many decent ZR1's around and so prices will begin to go up. This is exactly what will happen unless I and so many others are wrong and the relatively rare ZR1's are really not very good cars. 10 years ago you could buy an E30 M3 in great shape for $15,000. They are now $50-150,000 depending on condition. 5 years ago you could buy a Ferrari Testarossa for $50,000. Today, the bottom prices are $100,000. How do you think prices go down so far and then go up? It ain't magic. It's supply and demand.

I beg to differ. I sold mine for all it would bring at the current time. did I have to sell? no. Was I no longer happy with my circumstances as far as maintenance shops being so far away and had to deal with a leaky sensor left by aaron after it came from his shop? No. I was unhappy with my circumstances in owning this car where I live in South Florida. I took all it would bring at 16.5. I did not have a storage place for it so i can have it sit until the market goes up, or IF the market goes up on these cars. I feel I dont have time to wait for possible up trends on these or any car. My car had 47k miles and very expensive mods and a imron paint job 10k and new everything etc... I decided to not wait for the possibility that prices go up and unloaded the car for the most it would bring. I bought another corvette better suited for my circumstances and licked my wounds. Your car is only worth what another person will pay for it. I know of a few zr-1s for sale here by forum members that I would be all over them if I had a reputable mechanic closer than 24 hours away. I have dreams of owning Randy Ransoms beautiful red zr1 which he is still waiting to sell. He will not lower his price and if you saw pics of that beast you would understand why. I paid for my z06 what he wants for his zr1 which is heavily modded and impeccable. My z06 was on the market for 2 days and it was gone.

A variety of reasons are in play in this case because of future repairs, rarity of parts being the most convincing. I hope one day they do go up but I dont see it in the foreseeable future. I am 58 and did not want to spend years selling my car. If I were younger maybe but not now. I hope you all get what you want and some of you might decide to sell even if you dont need the money, you might need the space or more importantly, you may not want to wait.

Thank You.

[DRM500RUBYZR-1]

Originally Posted by ssrszz4

Unfortunately that's not how things work.

Sent from my XT1585 using ZR-1 Net Registry mobile app

It is for smart sellers and buyers.

If you want a really good car now, you have to pay up.

Unfortunately, there are those that think if one car sells for $10,000.00, then none could be worth considerably more.
That is simply wrong.
Low mile cars that have been properly maintained are getting harder an harder to find, and the premium for them continues to be strong and getting stronger.

The cars that were used like a toaster, continue to be inexpensive to buy, yet require added cost to bring them back as much as possible, or as much as the budget will allow.

As the other poster noted, C-6 ZR-1s can easily be found in the 50's with reasonable miles, and yes that is 50% or more below their cost new.

That is the way it works for most all higher end cars. Heavy depreciation in the early years; a gradual slowdown; a bottom reached; then a slow climb back.
C-4's have bottomed. C-5's 6's and 7's still falling.
C-1's, 2's and yes even the rubber bumper 3's all climbing.

I also very much agree with a statement above that said those who score the real nice cars now in the high teens to low 20's, will look like they stole them a few years from now.

Buy, upgrade, drive and enjoy!


Marty

[AnthonyGS]

Actually in a market this small it could easily work if owners communicated better. My ZR-1 has 67k on it and I wouldn't take anything less than 20k for it. I'd rather drive it into the ground myself than give it away. I don't know why people are giving these cars away they just are.

[ssrszz4]

Sometimes people inherit them and just want to unload them because they have no interest.

Sent from my XT1585 using ZR-1 Net Registry mobile app

[gmonsen]

Sometimes the forums prove the adage that you shouldn't cast pearls before swine...

Perhaps the value of ZR1's is sinking like a stone. If so, I suggest selling for $10,000 while these pieces of junk can still get those prices. After all these 4 cam powered cars are really just bastard C4's. Maybe they'll only be worth $5,000 in a few months?

[lfalzarano]

Glad you're happy with your car... ZR-1's are for driving excitement and enjoyment and not an investment.


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[henryr]

be thankful the haven't gone crazy in value...

i have had a car i had to sell as it was too expensive (for me) to drive like i wanted.... have friends that have nice cars that sit for the same reasons