Honest Mike

Hey guys. Let me start off by saying sorry if this is in the wrong section. I just want to get an idea of what you guys think a car I am looking at is worth. Please move if need be.

A guy I know has a Commemorative Edition ZO6 for sale. He is the original owner. Bought it brand new. Carfax is fine. The car has 2,450 miles or so on it. Car is mint. He doesnt use it much at all, as you can see from the mileage. It sits in his garage with a cover on it. He is asking $35,000 for it, but told me he will take $33,000 and not a penny less. My question is, is this a good deal? Is it a great deal? I offered him $30,000 cash on the spot but he refused. He is dead set on getting $33,000. This one has no side moldings, which I prefer it that way anyway. I just feel that its 7 years old, with no kind of warranty and $33,000 is top dollar, although I do love the car. What do you guys think? Any help or opinions will be greatly appreciated.

Forza1

Well I can't speak on those miles, but I saw one with 15,000 go for $22k very recently here...

If you're a collector and are never going to drive the car, then you would not choose one with 2,200 miles because that's too "high" for collector value. However, if you just want to own one to drive and because they're cool(and they are), then I think you would be hard pressed to notice any differences between a 2,200 mi example and a well-kept 30k mile example...

So if it were me, I would serenade him with Aerosmiths "Dream On", and go find a nice one for $25k with some headers and maybe a cam on it...

0331MARINE

I cant see him getting $33k for it. He might get $26-$27. Thats 08+ C6 range and soon to be C6Z range........

RamAirDave

for 33k you can buy ONE HELL of a built C5. I would not invest that kind of coin in a stock low mile Z. There are too many of them out there for less and the miles dont matter. if it had 2 or 3 miles...maybe...but what the hell is the point really?

mikes1hog

If you offered 30 and he refused, he doesn't really want to sell. Keep hunting!

Honest Mike

Thanks for the replies guys. Yea, I will let him sit on it. Im in no rush at all. My $30,000 offer will still stand if he calls me back, unless I find something else in the meantime. According to KBB, hes asking retail price, and I refuse to pay retail price. Who the hell ever pays retail, for anything??

mikes1hog

KBB shows the highest prices, NADA is next and Edmunds the lowest. Edmunds claim to fame is that they represent actual SELLING prices and KBB represents the "value" of something. What should you pay is the question that really doesn't need an answer here/!

cor28vettes

You're at 30. He's at 33 now. For a classic one owner CE Z06 w/those miles I'd counter w/31. He will counter w/32 unless he's very attached for good reason. You come back w/31.5 and drive off w/a brand new beauty. If you want a joe blow C5 buy a C5.

Someday C6Z will be there but show me one that's there right now in same condition.

I would not let a standing offer stand more than a few days. Someone else comes along and snaps it up slightly higher based on your standing offer. How are you going to feel then?

Forget KBB in this case. Check their value for his miles and then add miles in 1K increments. You will see they don't take his super low miles into consideration.

And wait, that's not all...
BSM should have zero impact on decision to buy a C5. They come off easily. Think of it as an option, not as a factor in buying.

mikes1hog

Hey Gen, what about the Z450? pricewise. I think you are a wonderful cheerleader/advocate for the sellers. No offense. Guys who want to sell either are real or not. And in many cases, they are not. Check out all the Vettes that do not sell on Ebay each week. Buyers need to be patient and keep looking for the right car, at the right price. And if they miss a great car at a ridiculous price...don't worry. You have the money and you are in the "driver's seat."

cor28vettes

The Z450 is just like this one. No offense taken. I can't blame the seller for asking 35 at the start. Not realistic but I understand. Then he went to 33. Once the reality of the market sets in he will reconsider his 33. Reality of the market is gas prices, not the recession from yrs ago. Actually, it's the best time in years to sell cars. How's that you ask? People are holding on to their cars longer which creates a tight supply of usd cars. I read that "the supply is such that prices have risen to their highest in at least 16 yrs. You're not going to find a situation like this very often" says the ED of NADA. "For just a little more you can buy a brand new car" says an auto analyst for Morningstar. From AP Business article May 19, 2011.

I don't survey ebay so I won't address that. Yes the buyer needs to be patient I agree but if all the stars line up except price then it's time to negotiate (both parties). He's not in the drivers seat on that car till he hands over the money. Does he want that car or will a C6 do him better? Heck he can get a new one for not that much more. No options but it's still a Vette. Or perhaps a nice enough 08 loaded.

Nothing wrong with the search mode. That's half the fun for me. The other half is driving it home. I'd rather be in the search mode than the sell mode although they go hand in hand for me. Wife goes on me but time is running low and I wanna have fun.

OP - if this one is not on the top of your list just take a pass. Someone else will buy it. There are so many choices as said.

cor28vettes

I thought abt this a little and checked on C6 FS forum just briefly

Brand new 2011 1LT 42,361

o8 4Lt 12K miles, warranty, 37,500 asking price

Take that to the CE seller and you should get your 30

Let us know how it turns out

jirasvet

a lot of Z06CE owners think they have a big collectable, i'd be happy to get 25,000 for myZ16

cor28vettes

Is it a one owner garaged clean carfax w/2.5K miles? If so lets talk.

mikes1hog

I agree 100%. The hunt for the right car is half the fun. The challenge of the actual purchase is the next 50%. I hear you about time.

0331MARINE

No, its a car thats 3 years old not 7, still under warranty, worth more, faster, and a much better deal if the OP is going to drive the car and not let it sit in the garage thinking one day its going to be worth $100,000,000..... All these low mileage cars arent worth as much as the owners think. They arent helping the car or themselves by not driving it, they are letting the cars waste away.

Z16 #1669

Sold my Z16 for $33K maybe 3 years ago.

They are not a big deal...folks get ego'd over them.

Got an 03 Black Z at moment. Drives identical.

carfeller

Most all corvette models that have ultimately gained any value were made before 1970...and even then only stock with matching numbers and mainly the more rare engine blocks. For the price of a used C6, you can own 99.9% of the early vettes anyway so we are not talking big dollars to get into any vette.

Best bang for the buck out there!

mikes1hog

You mean an '08 or newer C6 for a restored Vette. Unless you are including the basket cases for 15-20 grand that only "roll." The term "value" is used too frequently for the C5 and newer Vettes by a large number of owners who refer to "stuff" that was bought to "beautify" or "hop up" their rides and expect to recoup every dollar spent when they decide to sell.

carfeller

I priced a lot of early vettes and 15-20 grand buys you just about anything produced after 1970 and 30-45 grand buys you just about everything else. Adjusted for inflation those car values have not really gone anywhere in forty years. In fact that amount of money won't even get you into a new C6 Grand Sport.

Honest Mike

Thanks for the replies. I just always liked the C5 ZO6's, which is why I was interested in this one. I like the hard top/trunk look. To me it doesnt matter if its a Z16 or a regular ZO6, I just happened to come across this one, thats all. Anyway, you guys are right, its not worth $33,000, which is how I felt to begin with, not for a 7 year old car with no warranty. Thanks again.