C5 prices going up?
Thread Starter
Le Mans Master
Joined: Sep 2016
Posts: 6,480
Likes: 555
C5 prices going up?
I cruise through a lot of the for sale sites (both in this forum and on sites like cars.com, cargurus.com, etc) on a daily basis looking at C5s for sale and I have been noticing the prices seem to be going up. Up until this summer, low mileage (I consider anything with less than 40K miles low mileage) pre '01 models were priced around $14-$16K, while '01 and up models were priced in the $17-$20K range. Now pre '01s are priced as high as $18 or $19K, and '01 and up models are well into the 20s. I wonder what's causing their prices to go up? I have also noticed it's getting more difficult to find coupes (which is what I'm looking for), while Zs seem to be plentiful. I'm also noticing that many sellers are asking as much for their coupes as others are asking for their Zs. That I don't get at all...
Instructor
Joined: Feb 2018
Posts: 191
Likes: 27
From: Michigan
Well, could be a number of things.. We all know many Corvette owners are delusional of what their car is actually worth, others may not truly be looking to sell. Also, it could just be negotiating tactics, they price it high assuming they are going to get negotiated down a little bit.. you can always lower your asking price but you can't raise it mid-negotiation. Just remember that just because the cars are being advertised for those prices, doesn't mean that's what they're selling for.
Burning Brakes
Joined: Aug 2018
Posts: 1,043
Likes: 329
Currently in process of buying a 99 targa with 42k from a dealer here in CT. Super clean with what appears to be average options for $15k. No negotiation on their part. Pewter metallic w/ magnesium wheels. A 98 I was considering with similar mileage was about the same. 02 w/ very low 13k near mint (red conv) was private owner ask $20.5k. If prices are rising, I still feel pretty good about getting into a high performance car like this for less than $20. Thought I wanted a MB sl500 good sense won out.
Melting Slicks
Joined: Jun 2013
Posts: 3,473
Likes: 691
From: West Virginia
I don't see it. Prices as far as I can tell have not moved very much for coupes. Personally as the owner of an early coupe with about 80k under its belt, I would not expect to get more than about $10k - and I certainly would not pay more than that if I was buying, unless the vehicle had ultra low mileage and was utterly pristine. In fact, as parts become more difficult, I would expect prices to continue down - there are never going to be replacements for the electronics; the early EBCM being a good example of that. Even a relatively simple sensor like the SWPS is not being attempted by the after market.
Thread Starter
Le Mans Master
Joined: Sep 2016
Posts: 6,480
Likes: 555
I don't see it. Prices as far as I can tell have not moved very much for coupes. Personally as the owner of an early coupe with about 80k under its belt, I would not expect to get more than about $10k - and I certainly would not pay more than that if I was buying, unless the vehicle had ultra low mileage and was utterly pristine. In fact, as parts become more difficult, I would expect prices to continue down - there are never going to be replacements for the electronics; the early EBCM being a good example of that. Even a relatively simple sensor like the SWPS is not being attempted by the after market.
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in the meantime it just keeps running. Bought new tires last week 
Banned Scam/Spammer
Joined: Sep 2016
Posts: 4,004
Likes: 3,929
From: Philadelphia PA (Birthplace of the USA, UNESCO World Heritage City)
If they're going up, it's slow and steady, not drastic. Hagerty had an article last year on this topic: https://www.hagerty.com/articles-vid...5s-collectible
Don't look at asking prices, look at sold prices. Best way to see this is go to ebaymotors for C5s, and select the "Sold Listings" filter on the left side to see actual past selling prices.
Don't look at asking prices, look at sold prices. Best way to see this is go to ebaymotors for C5s, and select the "Sold Listings" filter on the left side to see actual past selling prices.
Last edited by ArmchairArchitect; Aug 8, 2018 at 10:52 AM.
Instructor
Joined: Jan 2003
Posts: 180
Likes: 38
From: Ft Walton Beach FL
I just bought my 2004 Z06 with 42,000 miles in December, the dealer wanted $24k, I offered $23K with him paying the registration fees. We settled on $23.5 and half of the reg fees. I also heard from the previous owner that he got $25k on trade-in. So bottom line prices are indeed negotiable.
Drifting
Joined: Apr 2009
Posts: 1,928
Likes: 93
From: Boulder City NV
Never a lot of C5's for sale in Vegas, but I have noticed very strong asking prices lately for nice cars at the dealerships. $9950 for a '99 100K+ Miler up to $18.5 for a pretty 03 vert w/50K. I got my '99 vert with 56K for $14.5 two yrs ago. I don't think it's worthless anymore.
Thread Starter
Le Mans Master
Joined: Sep 2016
Posts: 6,480
Likes: 555
I just got done doing a search on cargurus and I couldn't believe how many pre '01 models had asking prices of over $20K...that's just insane! I wouldn't pay over $20K for a pre '01 if it had 1 mile on it!
Former Vendor
Joined: Dec 2016
Posts: 3,574
Likes: 2,412
From: Lookin over Hoover Dam
I got offered 24k via pm on my Z06 with 61k miles. My car has the suspension/wheel/tire setup the guy wanted and figured it was a great deal for him. I bought the car in 2011 for 17.5k during the slump so, I was nearly tempted to go C7GS but...low and behold, my C5Z remains. Longest period, BY FAR I've ever owned a car EXCEPT for my Honda CRX Si (Y49 car). Bought and sold over 120 cars in that span but the CRX and Z06 survived longest...lol.
C5Z prices are holding well, because they are still HPDE and competition murderers depending on class and sanctioning body. Not to mention Danny Popp dominated Optima USCC two years in a row with his....so much that Optima USCC is thinking of categorizing Corvettes by the themselves, which is BS...if you ask me.
C5Z prices are holding well, because they are still HPDE and competition murderers depending on class and sanctioning body. Not to mention Danny Popp dominated Optima USCC two years in a row with his....so much that Optima USCC is thinking of categorizing Corvettes by the themselves, which is BS...if you ask me.
Former Vendor
Joined: Dec 2016
Posts: 3,574
Likes: 2,412
From: Lookin over Hoover Dam
Never a lot of C5's for sale in Vegas, but I have noticed very strong asking prices lately for nice cars at the dealerships. $9950 for a '99 100K+ Miler up to $18.5 for a pretty 03 vert w/50K. I got my '99 vert with 56K for $14.5 two yrs ago. I don't think it's worthless anymore.
For real though...how hot is it...lmao? It was 99 here the otherday, but also like 91% humidity...I'm trying to really figure out if one is worse than the other.
Last edited by KnightDriveTV; Aug 8, 2018 at 02:19 PM.
Racer
Joined: Jun 2018
Posts: 263
Likes: 105
From: Salisbury, NC
That depends on your point of view. Many people find the looks of the Z not as appealing as a coupe, myself included. I was willing to give up the horsepower and other things included in the Z06 package because I think that body style is an excersize in bad styling judgement.
Melting Slicks
Joined: Jun 2013
Posts: 3,473
Likes: 691
From: West Virginia
While most wouldn't consider 80K a low mileage C5, I'm still seeing prices higher than $10K for those with similar mileage. I haven't quite figured out why, but most sellers seem to think if their car has less than 40k miles, it's worth thousands more. It is worth more, but with other vehicles I usually see a $1k to $2K difference in price for low mileage as compared to higher mileage vehicles...with C5s, sellers seem to think they are worth $5-$6K more...and I'd like to know where you guys are seeing the prices you've seen. Using sites like autotrader.com, cars.com, cargurus.com, craigs list, and the classified section of this site are all showing higher prices than before...
p.s. prices are always up a touch in summer - especially for verts.
Last edited by jackthelad; Aug 8, 2018 at 03:01 PM.
Thread Starter
Le Mans Master
Joined: Sep 2016
Posts: 6,480
Likes: 555
That depends on your point of view. Many people find the looks of the Z not as appealing as a coupe, myself included. I was willing to give up the horsepower and other things included in the Z06 package because I think that body style is an excersize in bad styling judgement.
Thread Starter
Le Mans Master
Joined: Sep 2016
Posts: 6,480
Likes: 555
The average car's annual mileage is about 8-12k. So, an "average" 20 year old car would be looking at 160k and up. Granted, Corvettes tend to have abnormal usage patterns, ranging from daily drivers to garage queens, but I would still state that anything under about 100k for a 20 year old car actually is low mileage. Even my 80k only works out at 4k/year. And, if you are not going to drive it that much, why bother to have a car like the C5, which was designed to be driven - "drive it like you stole it", as someone on here once said. My rule is simple, once it's warmed up and when the moment is right and safe, my right foot will be flat on the floor. Might as well have a Prius otherwise.
p.s. prices are always up a touch in summer - especially for verts.
p.s. prices are always up a touch in summer - especially for verts.