Prices and Valuation

[razorZR1]

IMO that lowers the price of the values. A one owner car that has been stored correctly with 300 miles only getting 35k, that is quite low.

[edram454]

It is low for a 300 mile original. Original means it needs lots of service and is slow moving. If anybody drives this car just a few thousand miles it will lose 10k in value. These types of cars are not attractive only to speculators. I dont know where I will price my well modded car but I know it will rip this one a new .utt hole!!

ed ramos

[spork2367]

Originally Posted by razorZR1

IMO that lowers the price of the values. A one owner car that has been stored correctly with 300 miles only getting 35k, that is quite low.

It's a bit of a "market correction" for valuation guides like Hagerty's. While it's not the most desirable year or color combination, it's definitely a number one condition and is about 10k less than Hagerty's number one value.

Originally Posted by edram454

It is low for a 300 mile original. Original means it needs lots of service and is slow moving. If anybody drives this car just a few thousand miles it will lose 10k in value. These types of cars are not attractive only to speculators. I dont know where I will price my well modded car but I know it will rip this one a new .utt hole!!

ed ramos

No one is buying it to be a driver, so it really needs no service. You're right about the mileage. Even 5k miles takes it from rare find to pretty common. There are still a pile of sub 10k cars. Modded cars are the most fun and bang for the buck, but suffer from the greatest depreciation. If you took that 300 mile car and dropped a 415 into it, you'd devalue it.

[KILLSHOTS]

It's not low. It's the market, unfortunately. If I remember correctly, there's a guy on here asking this price for his 20K-ish mile '90, and I said this was plastic-on-the-seats money for a '90. So here we go.

It is what it is. The value of my Stingray has dropped like a stone, too. It's simple supply vs. demand.

[Z51JEFF]

Originally Posted by razorZR1

IMO that lowers the price of the values. A one owner car that has been stored correctly with 300 miles only getting 35k, that is quite low.

$35,000 is the market rate for that car,most common color combo didn't help the price. If it were yellow,one of the blues then value creeps up a little but not much. When a low mile $95 can be had for not too much more than this car,the markets still in the toilet. If I bought that car I'd mod the piss out of it and DRIVE IT. Don't like the idea that somebody else has already worked on the car but I work on my cars and a prospective buyer might not so the prior work is a benefit to some.

[Z51JEFF]

Originally Posted by Vette73

35,000 Hmm.....Well I guess that gives sellers who are asking high twenties for high teens,20K mileage cars some idea of where to price there vehicles ..

Probably won't see another ZR1 for sale with that little mileage...

There's more of these low mile cars out there than anybody thinks. There is a pair of red 90s that seem to pop up once a year. One has under 100 miles and the other a touch under 300 miles, both priced about $40,000 and there's a black 90 floating around that has under 50 miles that is priced under $40,000. If I had to replace my 91 I'd look for a no mile 91 and if it were the right colors I'd probably pay over $35,000. Oh,and I'd drive the piss outta that one too👍

[spork2367]

Originally Posted by DRM500RUBYZR-1

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?

Well, I mean the "commonplace salvage junk," the 10k I've spent on extremely hard to find NOS parts, the 20-30 auction sales I've seen, plus all the cars that have sold here in the last 2-3 years....

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.

How many ZR1 parts cars do you see for sale at any given time? Plentiful isn't the word I'd pick. "The population of quality ones diminishes." Sure, every year another 2-3 are wrecked beyond repair. So on a yearly basis we lose .0005% of ZR1s. Five one hundredths of one percent. Statistically insignificant. Let me know how important that "junk" is when you need an ECU, or a thermostat housing...As cars become more collectible, parts cars go up in value, not down. Typically at a rate that exceeds the collectible car itself. Priced a bare 60's 426 hemi block in the last couple years. Pretty d*mn expensive "junk." This isn't my first foray into collector cars and parts. I made a killing off of my collection of Oldsmobile 442 W-30 parts about 8 years ago. The last set of "F" cast cylinder heads I sold make the going rate of a set of LT5 heads seem like pocket change.

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.

It's not like a low mileage ZR1 is rare....at all. I didn't buy my salvage cars because I like cheap junk. Are you implying that half of Jerry's store is cheap junk (all his used parts)? There are still a pile of cars with less than 10k miles. Sure, they will appreciate over time. Right now however, despite the fact that "they aren't making any more of them," the price is still dropping. Right now the average price for a 94 is 22,800. And that is considering that far more of those that sold were nice cars than junkers as there just aren't many 1994 ZR1s that were beat.

OP - Yet Again; Beautiful car, and GLWS!

Marty

If you want to ignore every shred of evidence as to what these cars and their parts are selling for, be my guest. The market isn't buying your argument.

[DRM500RUBYZR-1]

Originally Posted by spork2367

If you want to ignore every shred of evidence as to what these cars and their parts are selling for, be my guest. The market isn't buying your argument.

Nor is it ( or I ) buying yours.
Your evidence might be less complete than you think.
There are very few low mile cars changing hands, but do not think for a minute it just happens at auctions or sites common to you.
Those wanting the best are quietly picking them up.
Start following just the high end cars.
You will see them disappear.
Sure they may be lower than the asking price, but nowhere near the number that you "threw out"."
For what it is worth.

M

[lfalzarano]

Here are the valuations based on Hagerty's Evaluation Tool. The values fluctuate between years and conditions obviously.

[LGAFF]

Average Price of a ZR-1 on Autotrader

52 ZR-1s for sale
Range of prices within this search:

• Highest Price:$61,900
• Lowest Price:$9,777
• Average Price:$26,026

A few of these are probably LT-1s mislabeled......this is a similar process with how your insurance carrier would value, they would use these and have the "take" price from dealers were applicable; VIN ID process would eliminate non-ZR-1s. A standard mileage deduction or multilplier would be applied, condition, prior damage, etc