I am now looking for a stock 04 MY/mod red Z06 with low mileage (15K).

What are your thoughts as to what one should go for final selling price ?
(not asking price)

 

If in excellent shape (interior, exterior, etc) for a 15K car you are looking at

24K -28K average


Depending upon independent or commercial seller.

 

I would pay 26-27K if in excellent shape.

I bought my Z16 ZO6 with 2800 original miles on it at the time, for $30K, a little over 3 years ago.

 

I've only just started looking for my next project, so I haven't monitored sold prices yet, but I think you guys are a little high. I would say you guys might be right for listed prices, but the actual sale price will probably be closer to the 18-24 range. Right now there is a 2008 Z06 for 32k over on the C6 for sale section. Admittedly that one is a high mileage car, but that is also a lot more car for only a couple thousand above the 27 or 28 you guys are thinking. After looking around at prices (mostly of C6s), I don't think I would go above mid to low 20s.

 

That will be hard to find, but keep the faith. Good luck in your search.

 

Private party or dealer? Add 10% for dealer pricing. Figure $25k private party, $27k or so from dealer.

 

Most of the guys above are pretty close. The guy who said 18-24K is dreaming for a 15K car. He also compares the difference in price to a C6, which is not what you're looking for, so an invalid comparison. Like, if I can buy an apple for $1, I can get a pear for $1.20, so why not buy the pear? If you want an apple, not a good deal. (even if the pear has more horsepower)
If you find a guy selling a 15K 2004 Z06 for under $20K, ask him what else he has for sale, you'll get some good deals.

 

$24K-28K is about right for a car with that mileage. To get one at $18K or even $20K would be one heck of a deal and I'd have to question whether something was wrong with the car. Some C5s have started to show appreciation in value according to a few sources.

 

I'm not saying 18k so I can get something for 15k. That is completely the opposite of what the OP said he wanted to know and wouldn't make any sense in this conversation. He's looking for selling price, not listing price. I think most 04 Z06s would probably list for 24-28k and sell for less. A quick nationwide search of autotrader shows a high of 60k, a low of 18.5k and an average of 28k. Now, when is the last time you paid the asking price for a car? Taking all of that into consideration, and I don't think my selling price is that far off. Well he be able to find a mint 04 Z06 a seller is willing to let go for 18k? Probably not, but I can almost guarantee you can go out and buy a very nice one for under 25.

It's not an apples to pears comparison. It's a red delicious apple to a granny smith apple. Why would I pay 1.20 for a less juicy and tasty apple if they're also selling the better apple for the same price. Some people like the C5 better, and that's fine. But if they're willing to pay a premium, they aren't shopping around enough. I was comparing C6 prices to C5 prices only to because that drives the market. Like it or not, but for the foreseeable future, C4s will be less than C5s, C5s less than C6s, and C6s less than C7s. I don't make the rules, that's just how the market dictates it.

 

I've heard that, but I have yet to see it. I casually browse the auction results to see what the prices are, and if anything, I'm seeing more "no sales." Where there might be some appreciation could be from the economy improving. 5-6 years ago there were a lot of guys selling because of financial reasons and that helped drive the prices down faster than "normal." We might now be seeing a price correction. I bought an 04 in 2010. It hasn't dropped as fast as I thought it would, but it certainly hasn't gone up yet. But I can hope!

 

I'm not ignoring your replies. Keep em coming please. We should all have this conversation when we buy (or sell). And yes, it will be a hard find. I know of just one but he's not ready to pull the trigger on his C7 yet. Plus the fact only 629 Z06's had MY for 04, regardless of interior color.

Although rare, that MY w/mod red interior combo is not for everyone. It's a two edge sword. Once I buy, it may be hard to sell outside of Italy. Plus lots of guys make fun of them. We've all heard it before. But I happen to like it. That combo in cloth goes back to ancient times, as well as current times in Asia, South Korea specifically.

With cars, you can trace bright yellow over bright red back to the fastest, most powerful, most famous Duesenberg ever. The 1935 SJ Special. It's considered the ultimate American classic. And that's good enough company for me. 400HP supercharged. Held the world record for decades.

I also had the X-mas tree combo once. 67 Goodwood Green a.k.a. British Racing Green over Red on a 63 SWC (Imron repaint) and it looked damn good to me. Something only avail as a $500 (or so) color over-ride on the 2014 Lime Rock Green. Have not heard of a single color over-ride in production for LRG. Americans are very conservative. Not so in Italy. Been there and Korea.

The main issue of concern is picking a 04 that has not experienced the infamous fuel tank crossover leak. There was no recall on them but for 10 yrs after the car went in-service, GM agreed to fix the issue but only on those that experienced the issue. Those 10 yrs are up. Secondary concern is the potential for valve spring failure. Highly unlikely that that was fixed with just 15K miles. But not as much of an issue on 04 and 01 as 02 & 03. And the CLB, a.s.a.p. Keep all that in mind plus the need for new tires if original (as many with 15K would be).

So back to the price check...

 

I spent 5 months this past summer months looking for a vette that was taken care of. Finally in September I found a 2004 vert base with 32K and paid $25K. I do not look back and question whether it was the right price. If you find a car that meets your needs and is in the range of dollars you want to spend, go for it.

 

Chevy Corvette '03 Z06,
Immaculate condition,
Torch Red, black interior,
Heads-up display. 6-speed,
LS6 engine, 13,000 miles,
Garage kept, Under warranty,
Original owner, non smoking,
$30,000. 689-1841 or 826-
1998

 

You will find that location plays a big part in value. Cars in the Midwest are cheaper than ones on the west and east coast.

 

It was close, other than the wrong year, wrong color and wrong color interior.

 

Nice theories, but in reality, someone who owns an 04 Z06 with under 15K miles will keep it rather than let it go for the price of $20K. If you go looking for one under $25K selling price, you're going to meet a lot of disappointment. It would be rare enough to find one at that price, but to find one in yellow with a mod red interior will be a might feat. Give it a shot, try to find one for him and post it here. Good luck!

 

Fwiw, mine is that color combo, 03 though, bought it 3 years ago with 36k on it for $23. It was very close to all stock, very good condition. That was from a small used car dealer. I'd say you're likely to pay $25 or so for one with under 15k. And yes it is a love it or hate it color combo, I think it looks awesome of course and it's pretty rare as well.

 

I looked at an amazing '02 Z with 13k on the clock that was $24k asking. It sold for $22k, it was at a Lexus dealer. This was October of last year. With the C7Z shipping, a C5Z with low miles might be pretty cheap right about now.

 

Ok...so I totally missed he was looking for a yellow over red Z06. Obviously that is going to make it much more difficult. I somehow read it that he was looking for a red Z06. I apologize. Looking for a specific (and very rare) color combo is going to drive the price up simply because there may not even be anyone out there really ready to sell.

Now to your point. The numbers I gave were 18-24k, so I'm not sure why you're picking the number 20. Just a quick autotrader search finds about half a dozen Z06s under 15k miles sitting on dealer lots with a list price of around 28-29k (one of them is yellow, but not over red). Like I said earlier, when is the last time you paid list price for a car? I bet you could easily get any of them for about 25k just by asking and with some haggling, you could get them under 25k. Most used car dealers are not interested in inventory sitting, especially a sports car in December. You've already had two people provide real world examples of Z06s going for under 25.

 

The latest publication to discuss C5 appreciation is Corvette magazine. They posted some numbers indicating some models had shown appreciation in value over 2013. The table posted in the article states an 04 C5Z price range is $38K for a show car (perfect) to $21K for "Needs TLC" with $26.9K for an "average" car. They indicate they are depreciating at 2% /year.
According to the article, some C5's are appreciating, some values stayed flat and some are still depreciating. The highest rate of depreciation is 4%. BUT you KNEW there was a "but" in there, these values do not take into account paying a dealer higher value for a car and getting a much lower value when you trade it in. The business rules of the automotive world still apply.