robertpel9

This summer when i had a 99 C5 coupe i bought a 93 40th Ruby MN6 off of this forum. Since then i put a few hundred into it and its a solid 8.5 out of 10 cosmetically. Mechanically its a 10 out of 10. It has 111k miles on it.

Since then i bought a C5 Z06, sold the 99 and am starting the Executive MBA at Emory next month (Orientation starts tomorrow. So with 45 hours at the office 35-40 at school i am looking at 80 hours weeks for the next 16 months.

I really like the ruby but am not really going to have much time to enjoy it. I dont mind keeping it if it's at least gonna hold its value. I stole it at $8500 bucks and totoal have about $9000 into it.

Do you guys think this ruby will always sell for around 9-10k if i keep her clean. I will drive it every few weeks if for nothing but to circulate fluids.

I really like the car but i love the Z06 so much more than i liked my C5 coupe that the Ruby is not getting attention. Before i had the 99 and it was an automatic so the ruby was a cool change to a stick, etc. Now with the Z06 the change in fun is not there.

What do you all think, keep it and just enjoy having a great condition C4 for years to come (I am only 28). Or sell it and let my daily driver come back into the garage?? I'm not hard up for money so thats not really the issue but if this thing is gonna flop down to 5-6 grand i may give her the boot LOL.

2 cents requested

SJW

It's only worth 5 grand now. I can be there by morning with a cashier's check.

But, seriously, your question calls for answers that could amount to no more than conjecture on our part. My sense is that the Rubies will tend to have more intrinsic resale value than would a base '93, but how much is difficult to predict. As well, it's difficult to say whether or not the 9K you have sunk into this car is about as low as it's likely to sink, or if it's got more downside potential.

I'd say it's unlikely that your Ruby will always sell for 9-10K. The only questions are:

1. Whether or not it'll drop more in the next year or three.

2. Whether or not it'll eventually begin to appreciate, as has proven to be the case with C1, C2 and early-C3 Corvettes.

Corvettes have historically had a rather unusual depreciation curve, in that they have dropped in value for years, then leveled off, then, if held long enough, they have eventually appreciated once again.

What remains to be seen is whether the late-C3s and C4s will also see this sort of trend. Only time can tell.

I don't think you have a tremendous downside potential here. You said you're not hard over for cash. The most you're likely to see in the way of depreciation is a few thousand, so if you like the car, and think you'll have time to enjoy it again in a year or two, consider keeping it. If you'd rather free up a hole in the garage and simplify life a bit, sell it off.

Be well,

SJW

*89x2*

IMO, the car will be worth that, maybe more... Rubies for some reason seem to command higher prices - maybe it was due to most of the premium options being standard in the 40th package - maybe it is the pretty paint...

Maybe this price guide from a national magazine that follows sales, auctions, etc. might be of interest...

remember, it is only one tool of many - use as such

okies93

Forget about SJW, it's worth 5500 and I have cash plus I can be there tonight

I seriously doubt that you will take a hit on it. How did you get it so cheap? Bad title?

If all the ducks line up with your 40th I don't think you will have to eat anything on it. Profit now or later

aboatguy

I believe it will continue to drop in value for another 10 years or so.

However, with the money you have in it you won't take too bad a hit if you keep it.

Asking Corvette lovers advise on keeping a Corvette is like asking a junky if a crack high is worth dying for.
Mike

robertpel9

Yeah i got a deal and a half. the guy was selling it on the forum and people were jerking him around, i came in with cash and we had a deal. I put about 500 into it (i paid 8500 for the car) to fix two very minor cosmetic issues. Car has a clean title and clean carfax.

I just dont drive it cause between work and grad school i am just buried. I talked with my fiancee about it this week and she said i can't sell it LOL she said i'll regret it and that it was too good of a deal. Particularly the mechanical side of it being perfect and last owner was a mechanic. So i'm keeping it. When the days get longer in the spring i'll have more time to enjoy it.

Thanks for the feedback

redwing76

Here the Ruby is priced the same as a standard coupe.
I doubt it will be a valuable car in the future.

If it was worth more now it might hold its value, but from what Ive seen its not holding its value.

If it was a GS, a CE LT4. It would be worth keeping. The mileage will also hurt it as it ages.

A good deal now may not be a good deal later. Cars depreciate rapidly with age and mileage. Theres no way to make money with a C-4. Of course that depends on your idea of what "money" is.
Id sell it fast.

kalister1

I bought a Ruby in October. To see what it was worth I called my local credit union and asked what I could borrow to buy it. I was told $20,000.00. The Kelley Blue Book is $14,000.00, top price from dealer.

redwing76

www.kbb.com 93 coupe 111k miles 6spd anniversary ed.
Private party value $9,840.

Trade in value $7,010.

Dealer retail $13,630. If someone is dumb enough to loan $20,000 on it you should have taken the money and ran.

Today its a $9,000 car in 6 months it will be a $8,400 car.
Every 3 months the new Blue Book comes out.

In 3 or 4 years the car will be worth around $5500. That maybe the bottom for a while it all depends on the price of gasoline.

Gasoline is going up forever, till its gone. The Burgan Super Field in Q-8 is in rapid delcine. Q-8 is amoung the worlds largest producers.

The Saudi Super Fields are pumping 70% sea water for every barrel of oil. In a few years 96% of the oil in the US will be imported.

If you can afford to drive only one car it wont be a Corvette.
Sell the car and put your money in Pepsi.

j3studio

I would hold the Ruby, not as an investment but because it give you pleasure.

Based on past experience, folks in the NCRS think that Rubies will hold slightly higher value than other 1993s (we use the Silver Anniversary 1978 cars as a reference here - high production but still special for that year). In fact, I know a significant number of NCRS folks who have Rubies as drivers while they restore far older Corvettes.

Just another viewpoint...

Ibuyvettes

It WILL drop before it turns around, how much how fast is speculation.

j3studio

I agree with both the drop and the inevitable eventual rise.

Red Tornado

i applaud such a sterile, business perspective only thing is, this approach if taken literally would cause me to despise cars and opt for a bicycle everywhere i go

by the way, i do invest, and plenty. no problems (hopfully) with money based on an early retirement. and yes, i dumped waaaay too much money in my low-class L98. i've never done it before, and would i do it again -- heck no, forever more i'll be smarter and purchase an already made beast at .20 on the dollar. thats one thing i did learn

redwing76

1988 Corvette coupe 39,000 miles blk/blk stick exc cond.
$6,500 1-925-895-3079
www.craigslist.org (gay area ca).

robertpel9

I'm keeping it cause i'll always want a C4 and this one is reliable and a little unique. Don't need the cash and it's owned outright so why not. I wish i had more garage spaces but the weather in Atlanta is not all that bad.

She's staying in the garage

Rainman15

I paid $6000 for my ruby vert 3 years ago. It needed a little mechanical work and a relatively easy floor repair which I did myself. Clear title and carfax. Sold it for $12,900 and pissed the money away and now have no ruby, nor anything to show for it. I have wished every day since that I had kept that car. My .02, keep it! You own it outright and have nothing to gain by selling it. Who cares what a book says its worth. You'll most likely just blow the money on something else anyway. I did.

kalister1

Let's see, 1993 = 20 some thousand Corvettes. Less than 7,000 Ruby's. Subtract out the ZR-1's that's way less than half. Most Ruby's are fairly high optioned cars. So if you wait a few years the average 1993 will sell for around $3,500.00.?