11k mile 90 ZR-1 on BaT

[Mystic ZR-1]

Red on red, 11k miles, nice car!
4 days left, bid currently @ $10675
Another one to be given away?
Lots of uninformed comments in the Peanut Gallery
comment section... (to be fair, some intelligent ones too)
For example: the motor was built in Sterling Heights Michigan!
Sure... and I'll bet they think it was built by
Scott-Atwater too? 😋

[Vette73]

Do these cars have reserves on them ?
Clean looking Z with low mileage...
Seen a few very low mile examples ( less than 5K),owners asking mid 30s......Can't remember seeing any ZR-1s go for that high....
I believe there may have been a 90 with less than 200 miles sell for a tick over 30K at Mecum a few months ago..
Otherwise,that's it..

Sent from my LG-TP260 using ZR-1 Net Registry mobile app

[rush91]

That is an insane price for that Z, with that low of miles. One would think the price should be $22k......

Sent from my XT1585 using Tapatalk

[DRM500RUBYZR-1]

Originally Posted by Vette73

Do these cars have reserves on them ?
Clean looking Z with low mileage...
Seen a few very low mile examples ( less than 5K),owners asking mid 30s......Can't remember seeing any ZR-1s go for that high....
I believe there may have been a 90 with less than 200 miles sell for a tick over 30K at Mecum a few months ago..
Otherwise,that's it..

Sent from my LG-TP260 using ZR-1 Net Registry mobile app

Really?
Wow.


Seriously,
Folks have to stop thinking that "auctions" are the end all, be all of car sales prices.
How many folks are at the auction?
1,000 maybe?
How many came there specifically to buy a high quality low mile ZR-1?
Any?
Likely not.
The buyer pool at an auction is small, and likely not the best pool for every car.
Most auctions draw people looking for a deal, particularly if they are a dealer looking to add to inventory. They certainly do not want to pay retail for a car that they intend to re-sell in the retail market. So if they can get it "right" they are happy to buy it, and re-sell it to a retail buyer.
That formula is disastrous for those in search of the most for the car that they are selling.
Auction prices are an important barometer of pricing, but mean little by themselves.
Certainly no one on this forum or others like it would sell "their" car for an auction or wholesale price. They would scoff at it, and say never, that their car is worth far more than the wholesale price, and in most all cases they are correct.
However, that means then that they must have their car prepared for sale, and exposed to as many in the target audience as is possible.
There is where things bog then break down. Owners get frustrated, bail, then cry that the market is so terrible, and these cars will never draw the money that they should, and on it goes.
It takes time, knowledge and effort to pull off a good price.
I do not buy cars at auctions.
While the prices are very tempting, there are usually reasons why the car is being sold at an auction. Some of those reasons are really good, like a rare and desirable car that has mass appeal, and can draw a good price.
However, it is also possible that the car has issues.
You simply do not know which it is with any certainty.
So if you do not want to take the chance, better to just look elsewhere.
I don't want to take the auction gamble for a car that I will be selling to many cases a friend. The risk is just too high.
Auctions will always sell cars and lots of them.
Most are good; some are not.
That is why in general the prices are so low.
It let's you have wins that might cover your losses.
Just keep that formula in mind if you are a retail buyer.
Not the kind of risk that I want to take on a car that I will be handing over the keys to a friend.
Marty

[spork2367]

Originally Posted by DRM500RUBYZR-1

Really?
Wow.


Seriously,
Folks have to stop thinking that "auctions" are the end all, be all of car sales prices.
How many folks are at the auction?
1,000 maybe?
How many came there specifically to buy a high quality low mile ZR-1?
Any?
Likely not.
The buyer pool at an auction is small, and likely not the best pool for every car.
Most auctions draw people looking for a deal, particularly if they are a dealer looking to add to inventory. They certainly do not want to pay retail for a car that they intend to re-sell in the retail market. So if they can get it "right" they are happy to buy it, and re-sell it to a retail buyer.
That formula is disastrous for those in search of the most for the car that they are selling.
Auction prices are an important barometer of pricing, but mean little by themselves.
Certainly no one on this forum or others like it would sell "their" car for an auction or wholesale price. They would scoff at it, and say never, that their car is worth far more than the wholesale price, and in most all cases they are correct.
However, that means then that they must have their car prepared for sale, and exposed to as many in the target audience as is possible.
There is where things bog then break down. Owners get frustrated, bail, then cry that the market is so terrible, and these cars will never draw the money that they should, and on it goes.
It takes time, knowledge and effort to pull off a good price.
I do not buy cars at auctions.
While the prices are very tempting, there are usually reasons why the car is being sold at an auction. Some of those reasons are really good, like a rare and desirable car that has mass appeal, and can draw a good price.
However, it is also possible that the car has issues.
You simply do not know which it is with any certainty.
So if you do not want to take the chance, better to just look elsewhere.
I don't want to take the auction gamble for a car that I will be selling to many cases a friend. The risk is just too high.
Auctions will always sell cars and lots of them.
Most are good; some are not.
That is why in general the prices are so low.
It let's you have wins that might cover your losses.
Just keep that formula in mind if you are a retail buyer.
Not the kind of risk that I want to take on a car that I will be handing over the keys to a friend.
Marty

They also shouldn't believe dealer prices are any better of a representation as an individual market segment. The auction, as a venue, is somewhat irrelevant when we're talking about cars that aren't custom, aren't super desirable, and there is no shortage of. You act like every auction is a random group of a**holes unknowingly bidding on cars. Those dockets are listed far in advance of the auction and more people go having an idea of what they are looking for than not. The ones who go with no idea typically aren't buying anything. Random "know nothings" aren't buying 30,000 dollar C4 corvettes when they see 8000 dollar C4s all day long. You think some random car buyer was sold on the ZR1 markup in the confines of a 1 minute auction?

30k is right where the market is on an extremely low mileage 1990. The fact that it ended up at an auction tells us it's probably just a low mileage car and not necessarily a concours car.

Why do you come into every one of these threads trying to convince everyone that every car sold at a low price isn't representative of the market? Because you've said the same thing about private party sales.

Want a good idea of what's a high price? Look at all the cars still for sale that have been for sale...for a year or more.

Why are so many cars being sold cheap and so many higher priced cars not selling? I'm sure it's just because people don't understand the market...

[Vette73]

Originally Posted by DRM500RUBYZR-1

Really?
Wow.


Seriously,
Folks have to stop thinking that "auctions" are the end all, be all of car sales prices.
How many folks are at the auction?
1,000 maybe?
How many came there specifically to buy a high quality low mile ZR-1?
Any?
Likely not.
The buyer pool at an auction is small, and likely not the best pool for every car.
Most auctions draw people looking for a deal, particularly if they are a dealer looking to add to inventory. They certainly do not want to pay retail for a car that they intend to re-sell in the retail market. So if they can get it "right" they are happy to buy it, and re-sell it to a retail buyer.
That formula is disastrous for those in search of the most for the car that they are selling.
Auction prices are an important barometer of pricing, but mean little by themselves.
Certainly no one on this forum or others like it would sell "their" car for an auction or wholesale price. They would scoff at it, and say never, that their car is worth far more than the wholesale price, and in most all cases they are correct.
However, that means then that they must have their car prepared for sale, and exposed to as many in the target audience as is possible.
There is where things bog then break down. Owners get frustrated, bail, then cry that the market is so terrible, and these cars will never draw the money that they should, and on it goes.
It takes time, knowledge and effort to pull off a good price.
I do not buy cars at auctions.
While the prices are very tempting, there are usually reasons why the car is being sold at an auction. Some of those reasons are really good, like a rare and desirable car that has mass appeal, and can draw a good price.
However, it is also possible that the car has issues.
You simply do not know which it is with any certainty.
So if you do not want to take the chance, better to just look elsewhere.
I don't want to take the auction gamble for a car that I will be selling to many cases a friend. The risk is just too high.
Auctions will always sell cars and lots of them.
Most are good; some are not.
That is why in general the prices are so low.
It let's you have wins that might cover your losses.
Just keep that formula in mind if you are a retail buyer.
Not the kind of risk that I want to take on a car that I will be handing over the keys to a friend.
Marty

True,auctions for the most part are a gamble....Best prices I see at auctions. are for high priced imports,BMW,Mercedes,Rolls Royce......A 220 thousand dollar rolls a few years old goes for less than half..Maybe even lower than that...

Also depends on the auction as well....I'm noticing a lot of disposable income thrown around at say Barrett Jackson....I mean 30K for a fox body mustang convertible?

[DRM500RUBYZR-1]

Originally Posted by spork2367

They also shouldn't believe dealer prices are any better of a representation as an individual market segment. The auction, as a venue, is somewhat irrelevant when we're talking about cars that aren't custom, aren't super desirable, and there is no shortage of. You act like every auction is a random group of a**holes unknowingly bidding on cars. Those dockets are listed far in advance of the auction and more people go having an idea of what they are looking for than not. The ones who go with no idea typically aren't buying anything. Random "know nothings" aren't buying 30,000 dollar C4 corvettes when they see 8000 dollar C4s all day long. You think some random car buyer was sold on the ZR1 markup in the confines of a 1 minute auction?

30k is right where the market is on an extremely low mileage 1990. The fact that it ended up at an auction tells us it's probably just a low mileage car and not necessarily a concours car.

Why do you come into every one of these threads trying to convince everyone that every car sold at a low price isn't representative of the market? Because you've said the same thing about private party sales.

Want a good idea of what's a high price? Look at all the cars still for sale that have been for sale...for a year or more.

Why are so many cars being sold cheap and so many higher priced cars not selling? I'm sure it's just because people don't understand the market...

Well, at least you have proven to all that you certainly have a commanding understanding of it.
Marty

[KILLSHOTS]

Originally Posted by spork2367

They also shouldn't believe dealer prices are any better of a representation as an individual market segment. The auction, as a venue, is somewhat irrelevant when we're talking about cars that aren't custom, aren't super desirable, and there is no shortage of. You act like every auction is a random group of a**holes unknowingly bidding on cars. Those dockets are listed far in advance of the auction and more people go having an idea of what they are looking for than not. The ones who go with no idea typically aren't buying anything. Random "know nothings" aren't buying 30,000 dollar C4 corvettes when they see 8000 dollar C4s all day long. You think some random car buyer was sold on the ZR1 markup in the confines of a 1 minute auction?

30k is right where the market is on an extremely low mileage 1990. The fact that it ended up at an auction tells us it's probably just a low mileage car and not necessarily a concours car.

Why do you come into every one of these threads trying to convince everyone that every car sold at a low price isn't representative of the market? Because you've said the same thing about private party sales.

Want a good idea of what's a high price? Look at all the cars still for sale that have been for sale...for a year or more.

Why are so many cars being sold cheap and so many higher priced cars not selling? I'm sure it's just because people don't understand the market...

Actually, the market for an extremely low mile '90 is not even anywhere near 30K. If it was, then that 383 mile example in Anaheim would not have sat forever at $28,900. I had them down to 26K but walked away for various reasons. It finally did sell and for how much, I do not know but it was definitely quite a bit less than 30K. Maybe that's the market for a PERFECTLY SORTED '90...

[DRM500RUBYZR-1]

Originally Posted by KILLSHOTS

Actually, the market for an extremely low mile '90 is not even anywhere near 30K. If it was, then that 383 mile example in Anaheim would not have sat forever at $28,900. I had them down to 26K but walked away for various reasons. It finally did sell and for how much, I do not know but it was definitely quite a bit less than 30K. Maybe that's the market for a PERFECTLY SORTED '90...

As I recall, wasn't that the car that did not run even though it had new injectors?
Marty

[spork2367]

Originally Posted by Vette73

True,auctions for the most part are a gamble....Best prices I see at auctions. are for high priced imports,BMW,Mercedes,Rolls Royce......A 220 thousand dollar rolls a few years old goes for less than half..Maybe even lower than that...

Also depends on the auction as well....I'm noticing a lot of disposable income thrown around at say Barrett Jackson....I mean 30K for a fox body mustang convertible?

Those high priced imports suffer the same depreciation across the market, auction, private party and dealer sales. That's based on the fact that someone bought a mass production car for 250k, got 30k worth of car and 220k worth of self righteousness. You can't resell the self righteousness...lol.

Originally Posted by DRM500RUBYZR-1

Well, at least you have proven to all that you certainly have a commanding understanding of it.
Marty

You criticize or dismiss almost every sale that is lower than what you think it should be. I'm not sure that demonstrates a command of anything other than you trying to justify dealership markups. Which I've said before, may or may not be worth it to the buyers on a personal basis.

Let's face it, dealerships, individual sellers, and auctions ultimately don't control what the market is willing to bear, the market does.

If you bought ZR1s for what you claim they should sell for, you wouldn't make one red cent!