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

[onethumb]

I watched a 21k mile '95 sell for $40,700 at Barret Jackson a week ago. Bid to 37k plus 10% buyers fee.

It was a nice car, nothing special but a solid low-mile car that you'd be able to drive.

Just a couple of years ago that's a 25k car.

[RA42]

Greetings all. New here obviously and am thoroughly enjoying learning so much about these awesome cars. I have been looking to start collecting cars and always aspired to being able to go in with a C2 Big Block car, unfortunately 4 daughters and college threw some wrinkles there with the values, but who knows I am still relatively young and their mom and my bride is very understanding. HA

For now, I have an opportunity for a 94 ZR1, one-owner sub 15k miles. Car has been stored for 10+ years, and cosmetically it is a solid 8. Mechanically she has been dormant ever since parked. I am not super mechanical, but I do understand I am looking at potentially a nice chunk of change to bring her back, along with a host of unknowns since the battery is drained (electrical, seals, gaskets etc) plus tires. To make it more complicated the car sits on the opposite coast as I do.

My question is what is a reasonable fair price range for this car? And I have reached out to Marc Haibeck and he has helped me understand the potential repairs (he is incredibly knowledgeable and responsive) and if the car is bought will go there first. Also, I plan to drive her periodically, but also want to straddle the fence between preserving a low mileage original example if that is possible.

Sorry for the length of the post.
Thank you all.

[spork2367]

Originally Posted by RA42

Greetings all. New here obviously and am thoroughly enjoying learning so much about these awesome cars. I have been looking to start collecting cars and always aspired to being able to go in with a C2 Big Block car, unfortunately 4 daughters and college threw some wrinkles there with the values, but who knows I am still relatively young and their mom and my bride is very understanding. HA

For now, I have an opportunity for a 94 ZR1, one-owner sub 15k miles. Car has been stored for 10+ years, and cosmetically it is a solid 8. Mechanically she has been dormant ever since parked. I am not super mechanical, but I do understand I am looking at potentially a nice chunk of change to bring her back, along with a host of unknowns since the battery is drained (electrical, seals, gaskets etc) plus tires. To make it more complicated the car sits on the opposite coast as I do.

My question is what is a reasonable fair price range for this car? And I have reached out to Marc Haibeck and he has helped me understand the potential repairs (he is incredibly knowledgeable and responsive) and if the car is bought will go there first. Also, I plan to drive her periodically, but also want to straddle the fence between preserving a low mileage original example if that is possible.

Sorry for the length of the post.
Thank you all.

35-37 in the current market. 40 if it had been serviced and was ready to drive. That is if it were to go to auction. Subtract maybe 2k from those prices for private party sales.

My .02.

[bb62]

Originally Posted by spork2367

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.

Using your numbers, what is the average of non-ZR-1 C4s sub-10K. It most certainly is not $23K. What average of base cars under 5K is selling for $35K. Your own numbers show you are wrong.

[RA42]

Thank you. I guess not knowing what?s lurking behind the corner I would be looking for feedback on what I should offer for the car. Realizing I need to outsource all the work to make it run again since been sitting for 10+ years.

Any range of numbers would greatly help in deciding to make an offer for this car. Even if you say run away that helps too.
Thanks again

[mlipmd]

Don't forget you will need 4 new tires - the ones on the car are shot even if they look brand new - plus the cost of mounting and balancing. And maybe every rubber hose needs replacement, plus oil/filter change, trans/diff fluid change, battery, AC recharge, Bose radio system rehab (new caps in CDM and speaker amps, CD and cassette rehab), transportation, and whatever else pops up. You will easily be adding $3-4000+ to whatever you offer. Ask MH what you could expect in extra costs, or have the car dropped off there on the way to you. In MHO, I would never buy something like that sight-unseen or without at least having some reputable person check it out first. I would think that's an $18-20,000 car in it's current state, esp. with an 8/10 cosmetic rating, hopefully the interior is not worn as that's another expense to rehab. You can find a better car closer to you, one that's been driven, used a little more, and well maintained. Some garage queens may be quite expensive to return to service. While everyone thinks their car commands a higher price than reality, those ridiculously high sales on BJ or Mecum or BAT are really unrealistic in the real world.

[spork2367]

Originally Posted by bb62

Using your numbers, what is the average of non-ZR-1 C4s sub-10K. It most certainly is not $23K. What average of base cars under 5K is selling for $35K. Your own numbers show you are wrong.

You're reading way too much into a surface level comparison. The actual numbers I provided are ZR-1 only. There are just too many variables with standard c4s and very few are going to auction. I really don't watch them. In the ZR-1 world we are talking about 6 years with very few options other than color separating them. Standard C4s span 13 years with both convertibles and coupes, automatics, manuals, 4+3s, zf6s, 205 HP L83 through 330 HP Lt4s...

But they are climbing.

https://bringatrailer.com/listing/19...t-corvette-36/

https://bringatrailer.com/listing/19...-corvette-102/

[RA42]

Thanks. My gut says walk but I like the records and general conditions with the car. I did speak with MH and we came up with 7 ish to get it going including all the electrical radio etc. tires I figure are 2k I spoke to the owner and couldn?t face time because of signal strength but he did send about a dozen videos. However not having or knowing someone in that area to lay eyes on it I think I?m setting myself up for disappointment as far as what actually get.

Thanks so much for your feedback.

[onethumb]

If you ask, there may be someone here who can go check it out for you. But we don't know the location, so....

[RA42]

That is a great thought. In that spirit would anyone be interested in taking a look at a 1994 ZR1 in the Portland OR area? I am not sure how I would go about compensating for your time but I am more than happy to figure something out.

I think there is a way to PM someone on this forum, if you have interest then please do.

Thanks