Just out of curiosity checking my cars value on NADA. 2002 Vert 48000 miles shows around $11000- $17000. Looks like prices are really coming back to normal. Ebay sold shows around the same @ $15000 average.

 

It had to happen sooner or later. Prices were just way too high IMO, and I really like the C5 generation - had three of them.

 

Kinda true for alot of cars right now. Definitely a buyers market. I have been following the C7's for the last 6 months and for mid 40's, you can get a nicely equipped 14-17 Z51 spec'd manual with less than 30K miles. This keeps up, might be a C7 coming home to chill with the C5-

 

"Tanking"... oh boy. Adjusting to normal range. The sky isn't falling.

 

Well it may be in some areas but here the prices are as high and a little higher than last year. If you have a clean car in the right condition, color and below 50K miles they prices here in the mid west are stable.

In fact I just read a story on 15 cars showing higher values in a stagnate market and the C5 was one of the cars.

Now a early C6 is coming down to the C5 prices in the low 20's in a coupe now. I do see they are softer outside the Z06 and Grand Sport.

 

I have been eyeballing C7s for awhile as well, and shocked to see low mileage, manual z51 hovering around the mid to low 40s......If they get down past 40, then I'll stop looking at C6 ZO6s and seriously consider trading my ZR-1 in for a nice C7

 

Guess maybe tanking is a little severe just surprised that my car has dropped in the book almost $5000 in 20 months. Still a nice car for not much money.

 

The new car market is saturated. Some models have over 200 days of inventory available. I found a few C8's available at MSRP for immediate delivery in stock. Naturally when new cars are discounted the used car market is affected. It's all about supply and demand and there are many C5's available in the market today.

 

Just wait until fall when the prices will really drop for sports cars.

 

I understand why buyers that want to buy a C5, those that want to sell, and those that want to move up a generation or two, following the ups and downs of the C5 values. But as a owner for 10 years, I do not. This is my fun car, not a money investment.

 

Depending on condition and color, your 2002 vert should easily bring $17k and probably more, Galen. I just paid $16k for my 2001 Navy Blue convertible, with 6spd and 58k miles, and didn't feel that price was out of line.

 

Here where I am the C5 remain up. The C6 is dropping and the C7 base cars are dropping. ZO6 and Grand Sports remain strong.

High mile cars and odd color coupe remain weak.

I got my 02 Red Convert last year and I continued to watch for a better deal and I only saw one of equal value come up. It sold in a day. I have notice a major lack of good low mile Torch red convertibles. They just don’t go on market much and when they do they sell fast. The Silvers or grey appear more difficult sell.

The other thing really clean lower mile under 40k that need little to no work are getting harder to find. Most need driver seat work and other areas of attention.

Cars with no under nose damage are really hard to find.

While some may drop the cream is still holding or rising. And yes every fall the prices for most cars can drop a grand.

My car only needed some seat work new foam base and the bushings. The leather has few cracks due to care. New tires and Top came with it. Today I could get easily $1500 more than I paid.

I don’t expect yo get rich here but I feel I have a car that will give me good service and I will sell for a bit more than what I have in it. That is a win in a car this age. .

My buddy sold his C5 coupe with 90k miles for $19.5. First buyer took it. Clean car no work needed even with high miles. The Converts here low miles are $21-$25. Coupes $19-$22k.

Now the cars with 100k miles are the $17k and less here.

The C5 Z06 is the money car if un molested low mile. The other top quality C5 will depend on Type color snd condition. There will only be less and less good quality cars moving forward.

the C5 will benefit the most for being simpler to work on than the later cars, for having many traits of the traditional vette but on a new chassis and with a LS engine. Volume will hold prices down a bit but it will fair better than a C4 and post C3. The after market is strong for our car as how fast you want just depends on how much you want to spend.

 

I sometimes befor bed, I look on some auto sites and even Factook, and Criags list. And around October last year the C8 listing here outside Phily the market was stuck on stupid with the major car sellers asking close to $124.000 to even $145.000. And thay sat and sat, not even a offer, and why would you buy a used C8 in the color and trim level not what you might be looking for, and why would buy something that at some point, you might be under water on ? and to a somewhat different case C6 and C7. So fast forward to May 2024, and only a few C8 up for sale and at $78.000 and strangly even Used C7 are still listed at + $75.000 ? And I realize that what is being shown may and may not be the actual price, and one of the strangest things, is the disconnect between sellers and reality. And one last night an C6 with the seller asking $19.000 and it has 137.000 miles on it, and one 1964 coupe with the seller looking for $89.000 and if you can ask a question with the usual "I know what I got so no lowballers !" C2 corvettes can be a buy, but we'er starting off on a bad foot here, but even saw a C4 and the seller asking $10.250 with the car has 109.000 miles and it's not worth the 30 drive to go look it over. There is just a strange idea that these cars, well used as they are and will be worth anything remotly close to the asking price is just lunicy. The good news I asume, the C8 market dropping is going to have big effect on the entire market C7 C6 C5 !

 

When I sold my C5Z widebody three years ago for almost $30k, I kinda thought my days owning another Corvette was over. A few months ago, I sold my Boss Hoss and decided to buy another old car to play with. Surprise, everything out there seemed to be priced at $20k or way more and almost all of them needed lots of time and money invested. On a whim, I started looking at Corvettes again and found my 2001 Vert about twenty miles away. Bang for your buck, it's kinda hard to beat a decent C5.

 

It's been fun watching the C5 values during the plandemic.

My car is worthless so it's been pretty stress free for me. Even at a low 45k miles. Had 26k on it when I bought it.

It provides nothing but smiles per gallon though.

I could probably sell the motor for 10k tomorrow. The rest of it I don't care about. It is definitely worth more in parts.

 

The key is to find one unmolested. I recently found a really nice 2002 but it had split fire plugs and a tornado intake.

 

If it only had the E3 plugses!!!!!

 

https://www.donsitts.com/inventory.php?type=Sports

Here is a local place that moves a ton of Corvettes. Most are C4 to C8. The prices are firm. A few other place here are a bit higher but they move cars too.

https://www.motionautosport.com/used...model=Corvette

These are generally good cars but they are a bit higher priced.

The reality is these cars will be worth what they were new in another 25 years but that kind of money will not be get rich money due to inflation.

I can sell my 1985 Pontiac get more than I paid for it new, but $15K is not much money today like it was back then.

Cars in general outside a small circle of cars are often bad investments. The few that are were often expensive to start and often 300 and less made.

I can still sell mine for more than I paid and it appears to be going positive for me so if that remains I am golden even if it is a dollar more. I bought the car to enjoy it and that is what I am doing.

Also over the coming years these cars will get used up so supplies will drop. I see so many trashed out that they will continue to decline.

 

Don't think my 2002 with 195,000 miles and a brken EBCM is worth a lot.

 

keep it forever and you won't have to worry about any tanking (like me)