All2kool

Watching the Kruse Auction on ESPN this morning and a 1990 ZR1 with 71 miles sells for $35,500. Gee, there's one investment that didn't pay off as the original sticker, still in the window, shows the original sticker price as just a tick under $60,000.

CStewTAMU

Well when they make 1000s of them....

I think it will rebound in another 18 years. Those just aren't rare enough to bring more than sticker after only 18 years. Especially a '90. Not meaning to rip a ZR-1, hell I'd take one anyday over a C5 Z06.

xlr8nflorida

Having 1,000's is of them is an incorrect response, research previous generations of Corvettes and the ZR-1 is limited in comparison.

Also, people who buy ZR-1s like to buy one with some mileage, say a few thousand. A car with 71 miles is going probably need alot of work. Coil Packs, Vacuum Pumps, Injectors, 2 fuel pumps ($1,600)

He decided to cut his loses but he is selling at the bottom where soon it will be going up. Some magazines even reported the ZR-1s going up 7% earlier this year. The economy is now not in the best place and lets face it, when people are spending $30,000+ alot of them opt for the newer Vettes for the coolness factor or latest technology. Many are also scared of the LT-5 motor because they hear that parts are hard to come by and are expensive if you can even find a mechanic to work on the car. Most of all of that is bad information although some parts are getting very pricey.
There seems to be more guys coming into the ZR-1 section from the C5 crowd. Many of them own both or the new ZR1 has sparked their interest. Hands down, I'll keep selling my other Vettes but holding onto the ZR-1.

He should have held onto it. These cars will be the ones to have down the road. Now is the time to buy a ZR-1.

All2kool

Wasn't me that said '1000's of them', as we know they are scarce. As I recall, less than 7000 ZR1's were built. Agreed, the ZR1 is the car to have now and the prices are right where a collector wants them to be - LOW. As for the low miles, I agree here as well. I'd rather have a ZR1 that was driven 500-1000 miles a year over the last 18 years than to have not been driven at all.

xlr8nflorida

I know you didn't - I just happened to quote you.

I really want to buy another ZR-1 but I think my family will think I'm nuts with 4 Corvettes.

Frizlefrak

To factor in the true loss of this "investment", you'd also have to factor in opportunity cost of the $60K tied up for 18 years. Not to mention the fact that the guy, in all likelihood, got ZERO enjoyment from this fantastic automobile all these years.

All of which comes down to this....don't try to drive your mutual funds, and don't invest in automobiles. An extremely small number of people ever make money on old cars.

xlr8nflorida

I agree - it is however an investment in your happiness if you enjoy cars

sal826

You definitely said a mouthful. This is something I could never understand with collectors of these vetts. Even if they just invested in boring large cap stocks paying modest dividends they would have at least doubled their money (not LOST half their money).

CStewTAMU

There were almost 7k of them made. That's not exactly what I would call "rare". Who knows, maybe a whole different story 30 years from now.

Cars that have appreciated in value over the years usually are much, much older than 13-18 years old. And theres a much more limited run of them...1000 at most. Sometimes less than 100. Plus, keep in mind the economy sucks right now.

Not ripping the ZR1. If I could have any vette 1953-present, a 1995 ZR-1 would be my choice. Or maybe a 09 ZR1 which I could sell and get 3 LT5 ZR1s. Can't beat the jaws dropping when you open the clamshell to reveal an LT5. Also....LT5 at 7000rpm.

DRM500RUBYZR-1

Just give it more time.
18 years is not long enough for a collector car.
They are at or near bottom, so a good time to buy.
See other thread about old cars in general.
http://forums.corvetteforum.com/show...8&postcount=15

capevettes

That sounds perfectly normal to me

xlr8nflorida

It won't be 30 years more like 12-15.

Also, some of the years are under 500 for production.

Nobody said that Corvettes appreciate in 13-18 years did they? Ever hear of a 57, 63, 67 - Did they make 1,000 of those???

96polovette

This is the reason why it is better to drive your corvette. Get some enjoyment out of it, they are meant to be driven! All that depreciation and it has barely been driven with 71 miles on the odometer!

TA

Exactly

Cars are made to enjoy and they make verrrrry poor investments

jlbruggeman

I totally agree with Frizlefrak-if you want a good investment, stick with a high quality mutual fund (especially if you are buying now!), if you want pride of ownership, and the hopes that after storage, insurance, etc... you will get rich on a car sometime later, go for it. There are far more wealthy investors in the market than there are wealthy auto investors....

DDSLT5

That is a great deal on that car. A lot of folks think these cars will need a lot of work to get them operational again - but not necessarily so. If the tank was filled and some Sta-bil put into it, the injectors, fuel pumps will be fine. The coils are very unlikely to have gone bad - I am still running originals in my car with a high hp motor and over 50K miles on the coils. One fellow bought a 22 mile 90 6 years ago. He simply drained the old gas, put in some new premium and drove the car - it had no issues.

xlr8nflorida

As long as he started in once in a blue moon

All2kool

Correct. 1990 was the largest production year with 3049 produced, 2041 for 1991. Subsequent years was 502, 448, 448 & 448 for years 1992-95. Given these numbers it is fair to say that all ZR1's are rare, years 92-95 even rarer.

corvette kidd

The guy with the 71 mile zr1 should have kept it in a barn for another 15-20 years for the value to appreciate. dumb. Look at the 50s and 60s cars. They are hot now with prices through the roof. The next generation of corvette to attain some serious value are the c3s. I have an 84 crossfire. First year, new body style, z51 package, has a general value between 5000-11000 tops. I also have a 75 rag top, last year of the rag top, that now are only going between 18000-30000 tops. Time is everything. But not driving these beautiful cars is a waste of time. These cars are meant for driving.

The way gas is going, we might not have gas in the future. The cars wont be able to run at all. Then they will be just a show piece.

gas powered car= paper weight
(hopefully this doesnt happen in my time)

Drive them, enjoy them. When the time comes for the big dollars, a well maintained driver will have great value.

onedef92

Invest, save, or spend, you CAN'T take it with you.