[Z06] ZO6 Value Jumped 25% Overnight!
05-09-2016, 08:44 AM
#1
Melting Slicks
Thread Starter
ZO6 Value Jumped 25% Overnight!
I'm registered with KBB which tracks the value of my ZO6 & sends me periodic e-mails with updates. 3 weeks ago, it was up 4%. Just got this today. DAMN! 
Your Kelley Blue Book® Values have changed
for the week of May 06, 2016 to May 12, 2016
Up 25% Increase in Value
since Apr 22, 2016 2004 Chevrolet Corvette Z06 Coupe 2D
Based on:
Mileage: 20,000 Private Party Value - Excellent Condition - $34,313.
Your Kelley Blue Book® Values have changed
for the week of May 06, 2016 to May 12, 2016
Up 25% Increase in Value
since Apr 22, 2016 2004 Chevrolet Corvette Z06 Coupe 2D
Based on:
Mileage: 20,000 Private Party Value - Excellent Condition - $34,313.
05-09-2016, 09:22 AM
#3
Melting Slicks
Thread Starter
05-09-2016, 09:43 AM
#4
Racer
I'd believe it. Well at least some of that number. 25% seems way high but more power to ya! When I was searching for my Z06 I was checking daily on Autotrader and Cars.com. I was looking for something with high mileage and most in the 80-100K range should of run about $15K-17K and absolutely zero were priced in this range. They were all asking 18-20K. I ended up going for something with lower miles and spending more after getting bad vibes from dealers with the 100K+ cars, and found a private sale with 70K for $20K that I felt was worth it when compared to all of the others I'd looked at first hand.
The talks on the forums showed me that some people believe that people are paying too much for some Zs, but my experience over the last 5 months of looking is that dealers and private sales priced close to NADA/KBB is few and far between. Only those very few private sales where people are really looking to get rid of their Zs get that low.
When I drove 6 hours to look at the first Z06 I was interested in, I tried to talk them down from $19K to $16K because my bank valued it at $15,500 (NADA), and KBB was even lower. They showed me in their computer system what they paid for it at auction and it showed $17,200. Take that with a grain of salt, I know I did when he told me he was going to show me what they paid for it when discussing price..... My response was "Lol, you guys paid way too much for it".
That was my first experience with dealing with dealers and the Z06s and learning that none of them would value them anywhere near NADA, and none would come down in price even with walking in the door with cash.
The talks on the forums showed me that some people believe that people are paying too much for some Zs, but my experience over the last 5 months of looking is that dealers and private sales priced close to NADA/KBB is few and far between. Only those very few private sales where people are really looking to get rid of their Zs get that low.
When I drove 6 hours to look at the first Z06 I was interested in, I tried to talk them down from $19K to $16K because my bank valued it at $15,500 (NADA), and KBB was even lower. They showed me in their computer system what they paid for it at auction and it showed $17,200. Take that with a grain of salt, I know I did when he told me he was going to show me what they paid for it when discussing price..... My response was "Lol, you guys paid way too much for it".
That was my first experience with dealing with dealers and the Z06s and learning that none of them would value them anywhere near NADA, and none would come down in price even with walking in the door with cash.
Last edited by Acid666; 05-09-2016 at 09:46 AM.
05-09-2016, 10:43 AM
#6
Drifting
Think about it; even if you paid $25k for a 100K C5Z, when you look at what it cost to recondition or make need repairs to have a great driver, you are still getting a great performance and classic styling for way less then a 1970s/90s 100k milage 911 Porsche, or 30k milage Ferrari. Then look at the cost of maintenance for them, and if you go for performance upgrades on them you could support a small country. C5Zs don't have the Rust problems of the others. A C5Z at it's original price would still be a bargain. Also think about how many Zs have been modified, converted to Race cars, or just wrecked. They are starting to become an endangered species and the market is starting to see it, and not just in the US.
Mark
Mark
Last edited by Moto One; 05-09-2016 at 10:45 AM.
05-09-2016, 11:02 AM
#7
Melting Slicks
Member Since: Jan 2014
Location: Rio Rancho, New Mexico
Posts: 3,043
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C6 of Year Finalist (appearance mods) 2019
Well that's good news. My '04 Z with 11k miles should fetch close to $40k! Time to make the sale and upgrade to a built C6Z! 
05-09-2016, 11:21 AM
#8
Maybe Toque's car knocked it all out of whack.
Going to miss that guy.
Going to miss that guy.
05-09-2016, 12:30 PM
#11
Race Director
05-09-2016, 01:10 PM
#13
Team Owner
Yah...that is crazy. The Z16 resale has been strong and inching up lately, but let's be real. $34K is more than I paid for my Z16 in 2007 with 18K miles. Don't know if I would sell it now, but if somebody was to offer me $34K...I'd be tempted.
05-09-2016, 02:06 PM
#14
Melting Slicks
Thread Starter
05-09-2016, 04:51 PM
#15
Team Owner
05-09-2016, 04:53 PM
#17
Team Owner
One of the best bang-for-buck used (and new) cars ever made. Still has credible stock chops eleven years after ending production...
05-10-2016, 12:08 AM
#19
Melting Slicks
Thread Starter
