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I like to think that the C5 Zs are starting to be recognized as a semi classic, bang for the buck performance, good looks ( last organic design Corvette), inexpensive maintenance, great handling, is beginning to placing them in demand, and with demand the price goes up.
Ad to that and the fact that many have been crashed, turned into (very capable) race/track cars is reducing the number of cars available (not that there is a real shortage), but the numbers are dwindling.
As a retired dealer, I can guarantee you there are as many or more private transactions that result in an overpriced sale as there are those sold for less than or equal to market. Then you have those with a specialty vehicle who sell it for less than value because they read too many opinions of others whose thoughts are tinged with their own pocket-book issues.
The reasons cars advertised don't sell are generally not because of pricing. Advertising into the wrong market, failure to fix mechanical faults, not keeping the vehicle properly detailed, failure to recognize the faults of one's own unit, and obnoxious sellers all contribute to no sales. The general public usually buy into the theory that the guy at the bank knows what the unit is really worth. If he actually did, he would be making a better living selling them.
The market is set when a willing buyer meets a willing seller and they reach a mutually agreeable price. There is an art to making that happen and it does not always revolve around dollars.
I just picked up a 2002 Z06 Silver with mod red interior 36k miles real clean with some good mods for 21K. Don't know if I got a good deal or if I over paid but I was looking for a while one with low miles under 25K but don't really care Im happy with the car.
Bought my stock 02 Z with 62k miles on it for $16k about 4 months ago. Super clean, 2 owner car with no issues. I feel like thats about as bottomed out as a clean Z06 will go for. Since I’ve been looking lately though, i have noticed that most of the clean ones I’m seeing for sale lately have been $20k and up. Now before anyone says it’s a seasonal thing, this is SoCal where it’s always driving season.
Bought my stock 02 Z with 62k miles on it for $16k about 4 months ago. Super clean, 2 owner car with no issues. I feel like thats about as bottomed out as a clean Z06 will go for. Since I’ve been looking lately though, i have noticed that most of the clean ones I’m seeing for sale lately have been $20k and up. Now before anyone says it’s a seasonal thing, this is SoCal where it’s always driving season.
Eh. It’s really not that unreasonable for them to be $20k stock in good shape. Several f-bodies have been for sale/selling in the low to mid teens around me lately.
I was gonna buy another C6Z. I guess the buyer sold it because his craigslist add was deleted. Good thing because I wasn't looking forward to dropping $2k on head problem. I then found low mile unmolested speedway white I couldn't resist.
C6's Z51 and base are pretty much fully intermingled with C5Z prices. The two are getting compressed beneath the C6Z06 and C6GS. C6GS really finds itself in a tough spot.
For my C5Z, I just had an offer at 24k cash, due to the mods being precisely what the buyer wanted (NA car, stock engine..all grip/suspension/tire/wheel/etc...60k miles).
You can get a C5Z cheap, just like you'll get a C6 cheap...depends on miles and condition. My gf paid 18k for her 09 6spd with 100k miles on it but minty fresh condition.
Fact is, the C5Z can only push so much lower, considering the out of the box capability the car has, and they fact they are notoriously still destroying it on-track and at various events like Optima USCC, NASA events, etc. The C5Z is pretty synonymous with track beast when modded properly.
I think the FRC shape and popups also are keeping the C5Z desirable. Properly stanced and modded, C5Z's look pretty awesome, while maintaining the more traditional appearance of the Corvette bloodline.
