OK, I have been hot on the search for a specific C5, with a specific color combo. I finally found it, and the car will be here soon (but not soon enough).

I spent a good bit of time looking at C5 coupes and convertibles, and there are a lot of nice cars out there. Plenty of cars with less than 10K miles, many more in the 20K miles range, and so forth.

What surprises me is that the asking price for these cars is all over the map.

I have seen many pretty much identical cars that have a difference of $5K or more in the asking prices.

I am not making any references or specific comments to anyone currently or recently selling a car.

But I am puzzled by comments like "I'll burn it to the ground before I will sell if for <fill in the blank>".

So, what I am really wondering is, for those that are selling cars, how do you determine the asking price? What you would pay with it? What you need to get to buy something else? One or more of the price guides? Sales / auction results? Roll of the dice?

I know I sound sort of facetious, but that is not my intent. I am really trying to figure out why asking prices vary so much for effectively the same car.

Most of my recent Corvette ownership has been with cars that appreciate each year (C1s and C3s), so this market is new to me.

So, please enlighten me...

 

The same can be said for the sale of houses . . .people think their stuff is a cut above and they ask a premium - - at least with houses, it has to appraise to get a loan.

With Corvettes (Ferraris, Mercedes, Vipers, Shelby's, etc) people will justify their high prices with some unique twist (miles, mods, arare color) - - and if they're too outrageous- they stay for sale for a long, long time. The 'for sale' section of these forums are no different.

On the other hand, there will always be those people with the shyster attitude that everything should be low-balled to "see how bad they wana sell it".

Good luck - - only you can determine whether the car and the price are right for you.

 

I feel that a low mile car is great if you plan to keep it for more than 5 years. And making it your baby
If not then the miles have little meaning up to 50k.
After that the mile fairy starts to rear it's tiny head..

Mostly, people who know how to fix, drop,replace,mod, or repair a C5 will always find the best deal.. And those cars won't be the low mile never used pristine on Sunday only Vettes....IMHO

 

I will admit that at times people do ask prices for their car - and that is certainly their right. But what they actually sell the car for can very well be another story. When I am looking for a car, I find as many resources on pricing that I can, including what people here on the forum are asking, and then make a decision on just how much I would be willing to pay for any particular car considering the mileage, condition, options, color, etc.

Glad you found the C5 that fits your needs and hope you enjoy the heck out of it.

 

Another factor to consider is how long the owner has had the car...an original owner or maybe a 2d owner after just a few years will have a lot in the car to start with and it will be a hard pill to swallow selling it for less than half what you paid for it. On the other hand if a guy bought a car for say $23K as the 3rd owner, then it's not that hard for him to sell for, say less than 20k. Cars are not investments and loose value...the longer you keep them. Unless you have that 1 in a million car that increases in value i.e. 1967 427... IMHO.

 

Prices are all over the map because anyone can ask anything they want to for any car. The trick is to match it up to a buyer who thinks it's worth the same thing the seller does.

 

I follow auction results and recently installed an app. On my phone....corvette DNA. It's pretty close! You just plug in year,options, mileage etc...and it will give you market value. On the other end, if you price low....people think it has issues. My car doesn't have issues and is priced below market value....and guess what? I still own it lol.

 

very well put.

 

The C5 really appealed to a wide variety of buyers when first introduced. You had the die hard enthusiasts as well as grandmothers all driving C5's. Flash forward 15 years and your going to see the base coupes with plain colors and auto trannys for almost nothing. Hoping my Mill Yellow and Black with manual will continue to hold its value.

 

many years ago I was friends with an Old Jewish guy. Alan Rosen. as a Young engineer my eyes were always wide open. We got on the subject of "worth" . Alan said the actual value of any object is based on what someone is willing to pay for it. Not what the owner thinks its worth. I see p[eole saying all the time that there house is worth e.g 750 K.. it stays on the market and is removed, then reappears 6 month later for 700K, but then accepts an offer for 650 K . So what is the gus house worth, Not what he thought but 100K less.
With a C5.. a very unique design with a demand for a well maintained Corvette with the right look and the right pedigree. If you look at some of the exceptional cars on this forum, Patches, Mr Bill, Bill Curlee, Blitz, and many other beautiful cars.. found here. You cant put them in the same category as standard DD of the same years. there are some very special cars on this forum. Some very unique in their care. IM not talking about modifications as much as the special care that guy like Bill, and Bill and ED bring to their car. For me, I would be looking at a high priced car in this special area, as oppose to a low price car. C5 are all over the place because some are so well maintained that the owners will only give up their speial car if they get what they think its worth. I have a guy who has been begging me to buy my car for the last two years. Rather than telling you just how much he is willing to give me, because it will only create drama. Ill just say its 10,000 dollars more than other cars of the same year and mileage are getting. this guys owns six restaurants, and has wanted my car for his wife for two years.... again this year he offered me the same money as he did last year. My car may not be as nice as Mr Bill or Patches or many of the other special cars found here, but its far from your average 16 year old C5 with 100,000 miles. I have every document associated with my car, every piece of paper, every receipt and maintenance record, date and mileage. Every UPC code for ever oil filter and bottle of Oil. So with the C5 , there are many very passionate people who might be willing to give up their car if they get an offer they can' t refuse, I just refused well over 20 K for my car two years in a row from the same guy and I have 4 or 5 people that always want to buy y car but the restaurant guy was a very serious buyer not just someone talking.. So the price of a C5 can be all over the place from 10K to 25 K. IN the automotive world this is an anomaly, but none the less its what is happening in the C5 market. I think the timeless design helps the high dollar C5 remain high. WE are spoiled here by all the nice cars in this forum but by and large the C5's I see on the street could not hold a candle to mine, or most of the cars found on this forum. I also want to say that I mentioned a few nice cars here, but the number of nice cars in this forum would take me to the end of my life to recognize and mention in this post. also it would severely inhibit the band width of this forum. Lots of great cars here.
Bill aka ET

 

I'm a fan of the current pricing of the C5 line. Not everyone can afford (me) a low mile near new C5 or a superbly modified and maintained example. But I was able to find a very nice car for a very reasonable price back in 2010. A friend of mine used to say, "there's an *** for every seat".

For me, the only real pricing consideration is condition, condition, condition. Then, can I afford it. There are buyers for everything from salvage titles to 40k Aztec Gold cars. It's great for everybody!

 

The way I see it is that the people that think the C5 is just another car that is going to continue to lose value and not come back up will let their cars go for less , and there are the people that think like me and see the classic design of the C5 in particular over the C6 as a car that is only going to become more in demand as time goes on , especially because the electronics are very limited as compared to anything newer. ( C7 Future electrical nightmare ) But most of all condition and mileage have a lot to do with it.

 

Just a C.T.I. ( choice tidbit of information )
The expression " there is an *** for every seat: has been a common expression used by car salesman over the years. I use to hear that expression back in the 1950's.

 

The C5 is old enough now that condition and history are more important than miles traveled.

I'd take a car that has been loved for 100k miles over one that has been neglected and unloved for 50k miles.

 

Price and miles matters not to me,condition does.The reason is that I will never sell my vette.

Fred

 

I agree with the future electrical tsunami

 

No doubt you are correct, I credited my friend, as he was the first person I ever heard use the expression. He does have all the attributes to be a kick-*** used car salesman though.

 

I believe it comes down to maturity and common sense of the seller. I agree that some of the vehicles on the forum like TOQUE are amazing and can easily sell with a higher price. I know that my c5 will not sell high. it has issues. so what that its a white frc and only 311 or so made. I know that its high miles and poorly maintained by the past owner. im still, after years fixing it. so I know that if I ever sell it, it will not be high. its the people that believe their stock, nothing fancy c5 is rare. they are the types that fuel this thread. I knew a guy in my town that had a stock 03 coupe. literally stock and normal. he was dead set it was rare because it was a 50th ann. I told him that all 03 vettes were 50th ann. but only the wine colored ones were actually 50th anniversary editions. nope!!! he was dead set his was rare because it was a 50th. he would not reason or anything. he ended up taking a loss on it for a camry. a dealer here has a white stock c6. like an 05 or 06 model. nothing special. I asked if it was for sale and he never gave me a price but kept telling me its going to be high because its his collector. I asked him if its a zo6 or anything which in turn he told me its just stock. I told him there is nothing special edition about it. he kicked me out, long story short.
but to get back to the original topic, sorry guys... I have noticed what he is talking about and id say just look for the ones that are properly maintained and cared for.

 

I usually price cars on how I think the car compares to the current market. That and how quick you want to sell it. For example I sold my old 2002 z28 sunset orange with low low miles for 12k, most people with similar car were asking 14k'ish. I wanted a quick sale and I got the money within 3 days.

 

Price is based on greed and logic.