'94 ZR-1 Sold on Cars & Bids in October-commentary

[WARP TEN]

The March issue of Sports Car Market Magazine had an auction comentatry on a ZR-1 sold online. They cover all auctions and do these reviews on all cars they cover. A fair and fairly normal price I would say. Despite the "rising tide" of car and auction prices these days, I am not sure all boats will float to the $60k-$70k level soon. Just my thought.Apologies for the amatuer cut-and-paste on the picture. --Bob

[KJL]

I don't think these cars will ever completely overcome the negative stigma associated with the C4 Corvette not to mention the fact that decent non-ZR1 C4 corvettes are selling for low teens. Of course there will always be motivated buyers out there to be had as long as the seller is willing to wait for one to come along but I think in general these cars will never sell for more than 10 to 15,000 more than a comparable C4 non Z car. Maybe down the road when these cars start to decrease in numbers, their values will finally increase to a level commensurate with what these cars represent.

[WARP TEN]

Originally Posted by KJL

I don't think these cars will ever completely overcome the negative stigma associated with the C4 Corvette not to mention the fact that decent non-ZR1 C4 corvettes are selling for low teens. Of course there will always be motivated buyers out there to be had as long as the seller is willing to wait for one to come along but I think in general these cars will never sell for more than 10 to 15,000 more than a comparable C4 non Z car. Maybe down the road when these cars start to decrease in numbers, their values will finally increase to a level commensurate with what these cars represent.

On the plus side, by virtue of unfortunately depressed prices on the C4 ZR-1s, many more enthusiasts can afford and enjoy them. I really don't think very many ZR-1 owners bought the cars simply as an investment, although many paid $100,000 for the first '90s. But most of the owners I have known are in it for the fun, the driving experience and the mechanical aspects of the engine and car. . --Bob

[DRM500RUBYZR-1]

Originally Posted by KJL

I don't think these cars will ever completely overcome the negative stigma associated with the C4 Corvette not to mention the fact that decent non-ZR1 C4 corvettes are selling for low teens. Of course there will always be motivated buyers out there to be had as long as the seller is willing to wait for one to come along but I think in general these cars will never sell for more than 10 to 15,000 more than a comparable C4 non Z car. Maybe down the road when these cars start to decrease in numbers, their values will finally increase to a level commensurate with what these cars represent.

Marty

[KJL]

Originally Posted by WARP TEN

On the plus side, by virtue of unfortunately depressed prices on the C4 ZR-1s, many more enthusiasts can afford and enjoy them. I really don't think very many ZR-1 owners bought the cars simply as an investment, although many paid $100,000 for the first '90s. But most of the owners I have known are in it for the fun, the driving experience and the mechanical aspects of the engine and car. . --Bob

Agree. I just love the car and it?s history. I just hope when it is time to pass this car along to next person the car will have at least held its value. I don?t drive them a lot because I want it to continue to feel special every time I do.

[Racinfan83]

There's a 90 Z with 15k miles posted on Facebook Corvette buy sell trade page now. White w red interior, guy says it's 1 of 30. $48k. It looks nice in the pics - but if it gets anywhere near that price I'd be surprised... Mine will go up for sale very quickly...🤔

[spork2367]

Originally Posted by DRM500RUBYZR-1

Marty

You can roll your eyes, but go look at BAT results and it shows exactly this. Clean C4s have gone up in value and comparable low mileage Lt1 and Lt4 cars are right there with ZR-1 closer to a 10k margin, not 15k.

There are lots of different perspectives on this. From the driver, to the collector, to the dealer.

Sure, if I had 6 ZR-1s on my car lot, I'd be hoping that wasn't the case.

They are definitely up over the last 2 years, but the entire market is. Clean low mileage cars are starting to bring much more of a premium over drivers cars than they did previously.

The market is cooling off again though. I think it's more of an overall market trend, because air cooled Porsches have leveled off as well. My sister just sold her clean 80k 1984 911 on BAT. BAT cars still bring a 10% premium over the rest of the market for whatever reason. But then, you can look at the 2000 Chevy Metro that just sold on there for 18k and never cease to be amazed at how people spend their money.

If these cars were going to catch that big break they've missed three opportunities that seemingly could have set the benchmark for an increase in popularity.

- The intro of the C6/C7 ZR1s
- The tsunami of a price increase on 90s cars from NSXs to Porsches, to Vipers, to 308s etc. In the time those cars were doubling in value, the ZR-1 sat still.
- Then the reintroduction of the second ever DOHC Corvette motor.

If none of those boosted the popularity, they probably just are what they are. That combined with the similarity to the standard C4, the shitty amenities including interiors, windshields, etc. doesn't exactly make them super desirable. While they are incredibly reliable, the perception is that they are finicky. Whether its injectors, fuel pumps, non-start due to valley drain issues, many need immediate attention and are perceived as difficult to work on and hard to find parts for.

These are not cars the super wealthy are looking for, and while there is hesitancy about what inflation and the market are going to do, I see these sitting right where they are at for the foreseeable future.

[DRM500RUBYZR-1]

Originally Posted by spork2367

You can roll your eyes, but go look at BAT results and it shows exactly this. Clean C4s have gone up in value and comparable low mileage Lt1 and Lt4 cars are right there with ZR-1 closer to a 10k margin, not 15k.

There are lots of different perspectives on this. From the driver, to the collector, to the dealer.

Sure, if I had 6 ZR-1s on my car lot, I'd be hoping that wasn't the case.

They are definitely up over the last 2 years, but the entire market is. Clean low mileage cars are starting to bring much more of a premium over drivers cars than they did previously.

The market is cooling off again though. I think it's more of an overall market trend, because air cooled Porsches have leveled off as well. My sister just sold her clean 80k 1984 911 on BAT. BAT cars still bring a 10% premium over the rest of the market for whatever reason. But then, you can look at the 2000 Chevy Metro that just sold on there for 18k and never cease to be amazed at how people spend their money.

If these cars were going to catch that big break they've missed three opportunities that seemingly could have set the benchmark for an increase in popularity.

- The intro of the C6/C7 ZR1s
- The tsunami of a price increase on 90s cars from NSXs to Porsches, to Vipers, to 308s etc. In the time those cars were doubling in value, the ZR-1 sat still.
- Then the reintroduction of the second ever DOHC Corvette motor.

If none of those boosted the popularity, they probably just are what they are. That combined with the similarity to the standard C4, the shitty amenities including interiors, windshields, etc. doesn't exactly make them super desirable. While they are incredibly reliable, the perception is that they are finicky. Whether its injectors, fuel pumps, non-start due to valley drain issues, many need immediate attention and are perceived as difficult to work on and hard to find parts for.

These are not cars the super wealthy are looking for, and while there is hesitancy about what inflation and the market are going to do, I see these sitting right where they are at for the foreseeable future.

I agree with the highlighted.
Selling them between 40k and 70k.
Not just me.
Mecum.
BAT.
and others.
Very likely will continue, then higher.


Marty

[Racinfan83]

Well, I would let mine go in the $35k range, so if anyones interested?

[spork2367]

Originally Posted by DRM500RUBYZR-1

I agree with the highlighted.
Selling them between 40k and 70k.
Not just me.
Mecum.
BAT.
and others.
Very likely will continue, then higher.


Marty

I track all of this. More low mileage (sub 10k) cars have traded hands in auction this year than any previous year of record. That could mean two things (not mutually exclusive):

- The collector's market has picked up for the zr-1.
- People don't believe the low mileage cars are going to appreciate significantly beyond their current point.

For your 40-70k number, I would agree if we were talking sub 5k mile cars. Beyond that, no. And the data doesn't support that being the new "range." The range, inclusive of all mileage, but excluding damaged cars is 18-75k. Virtually no cars with over 10k miles have broken the 40k price barrier. Average by mileage:

sub 5k - 50057
sub 10k - 38855
10k+ - 29250

Opinions vary, data doesn't lie.