62corvette

Remember a year to two years ago? All the self-proclaimed experts just knew that when the C7s came out, the values of C5s were going to drop like a rock. Have I missed that happening? It seems to me that someone forgot to tell the C5 sellers that. My sense is that they have slightly depreciated, but pretty much have held their own. Thoughts on that?

CQRT

I would agree--although I think C6 prices are feeling the effects more than C5's as people are "moving up".

strand rider

While a big deal among vette heads, the new model isn't going to make enough of an impact on the market to effect cars this old.

envyz06

agreed!

emccomas

I am in the process of purchasing a C5, and have been watching the market for a while.

There is a big difference between asking price and selling price.

I have seen a decrease in the actual selling prices, at least those that I can get pricing information for.

Clearly the "bottom did not drop out" of the C5 market, and really nice cars still bring good money, but it appears that many C5 can be purchased below "book value".

Either that, or the cars don't sell.

On a related note, for anyone looking to get into a nice Corvette at a very reasonable price, the C4s are a very attractive deal right now.

racebum

depends on the asking price? lot of the cars here on the forum are drastically overpriced.

as far as i know the cars are still selling easily around nada clean trade or clean trade +1000 ish

haven't heard of anyone getting retail in some time though

also, c4's are horrible. you can't get body, interior, or many electronic parts for them anymore and they would get their *** handed to them by a WRX which not only can cost similar money, you would also be looking at a 2002 wrx vs a 1990 c4, 12 years newer, huge deal

emccomas

A lot of cars everywhere are overpriced, but it seems to be easier to negotiate a decent price on a nice C5 these days.

My only point on the C4 is that is may be the cheapest way to get into the Corvette hobby these days. A lot of younger / less affluent people can't afford the classis, or the newer cars. And there are some nice C4s still out there.

emccomas

On a related note, how do you guys and gals check on the value of a particular C5?

NADA? Kelly Blue Book? Edmunds? All of these?

Do you find one to be more reflective of the actual market than others?

Sonny71

NADA seems to be the most accurate in my area.

66dts-v

I paid slightly less than the low NADA price for my car. I could have gotten a better deal with a private party, but the dealer did a good job taking care of it.

RetiredSFC 97

Personally I don't see how a new generation can affect the C5. It's the C6's that will take the biggest hit, just as the C5 took the hit with the C6. It seems to me the C5 is doing well price wise. But I don't keep up with prices either, so I don't really know.

MotoJB

I think any new generation affects the previous ones...except for the true, unblemished, low mile, collector models.

I think the C5's are even less desirable now that the C7's are out (for many). This will continue to push the prices of C5's down.

Then again, there's not a whole lot more they can/will fall in the near term is my guess.

F&Yb0dluvr

They've gone down some but not much when the new generation comes out it always affects the generation right before it mostly

Depends what c4 and what wrx most North American WRX's back then had only 227hp L98 Corvettes are just as quick as those at a stoplight and LT1's are faster from a roll.

Mr Russ

I'm far from an expert, so take my opinion as just that.

I've been watching the Phoenix/Vegas/SoCal region for over a year. Even tho I purchased recently, I have still been watching.

I look for cars on Craigslist, Cars.com and Auto Trader mostly. Side note, here in AZ if you buy a car from a private owner you do not have to pay sales tax which is generally 8% to 8.75%.

For valuations, I like Kelly Blue Book the best, but I still look at them all.

Price's run the whole range from below book (sells faster than you can call) to 20% - 30% above book (some I've seen for sale for months and months) Been watching a stunning low mileage Electron Blue '02 Z06, started over $26K last fall, now down around $22K.

I decided I was just not going to pay more than book value period. Was just not going to get upside down in a toy in case I needed to liquidate.

I had been watching a few low mileage cars while I was getting funds together and watched them sell one by one before I was ready. The car I got was one I watched also but thought it was priced too high. For personal reasons the seller suddenly dropped the price one day to book value and I jumped.

It was exactly what I wanted, a garage kept yellow coupe, auto with most bells and whistles and ~57K miles. Working on mods and couldn't be happier.

Here it is, "My Precious"

Mr Russ

In my opinion also, the C6 pricing will be affected most by the C7. The value of C5's will likely remain steady (especially '01 - '04) because the car was well built and a significantly better car than the C4.

Vetteman Jack

Around here C5s still bring decent money considering they are at least 11 years old.

2CRUZIN

I think prices held up fairly well. Of course low mileage garage queens will always command a strong price. I know I personally looked for a low mileage 04 Lemans Commerative and I had a heck of a time finding one reasonablly priced. Every now and then a buyer must sell and there are deals to be had. I prefer buying from forum members who generally take very good care of their vehicles.

kybilt

A good way to measure the value of C5s: look around and notice how many are on "buy here-pay here" car lots. A LOT!

Also, notice how many trashy C5s "fixed up" by clueless idiots get posted on craigslist. QUITE A FEW!

Still think the predictions weren't true?

62corvette

There are not a lot on car lots or CL here. (Milwaukee area)
Good cars are still good cars and command good prices. Trash still doesn't. I do not think the predictions were true.

racebum

beaters sell at beater prices

even seeing that with early c6s that have been hammered on, they are down to the mid to high teens

people want well cared for stock cars or well cared for cars with quality mods {nice wheels, forged motors, coilovers etc} those still bring money

200k mile c5's that have sat outside for the past 5 years sell under 10k, totally different car than a well cared for example