Is the C4 ZR-1 Finally Gaining Market Value?
 

As a long-time Corvette owner, I've been following the recent trends showing an increase in Corvette sale prices across the board. It seems like the C4 ZR-1 is finally getting some respect in the market from buyers. For a long time, you could buy a pretty nice early ZR-1 driver for in the teens, but that doesn't seem to be the case these days. Do you think the increasing sale prices will be sustainable, or do you think if the car market normalizes, the values will go down?

I was reading an interesting blog article about sale prices from a couple years ago compared to today.

First-year C4 ZR-1 Auctions (About Two Years Apart)

I think it generally takes 30 years for most corvettes to rise in value. I drive mine to enjoy and don't really worry about value - I have other investments that will do much better than any car will.

Here are a couple of articles that discuss the state of the C4 ZR-1 markets from recent issues of Sports Car Market magazine, which follows all the auctions and looks at buying trends. One is from the December 2021 issue, part of a column recommending "Buy.Sell or Hold" on various car. Another from February 2022 describes an online auction result, and one from March 2022 is a discussion about best collectible Corvettes. They are an authoritative publication regarding worldwide car auctions and historically have not been big believers in expected appreciation of C4 ZR-1s. Apologies for the cut and paste and quality of the pictures. --Bob


https://cimg6.ibsrv.net/gimg/www.cor...e545344c60.jpg
https://cimg2.ibsrv.net/gimg/www.cor...21c958ced7.jpg
https://cimg4.ibsrv.net/gimg/www.cor...8e3aa6d8fe.jpg
https://cimg5.ibsrv.net/gimg/www.cor...5ec8d1b80d.jpg

I don’t agree with Michael Pierce on his assessment of ZR-1 rarity due to unit count. Nearly 7,000 units produced over six model years back in the 90s is a lot on the internet. That’s not a lot in the real world, which is a much bigger place. Also not taking into account how many have been lost over the decades, yes plural!

Time flies doesn’t it? 30+ years since this car was produced and some think it’s just now rolling off the assembly line today in force as is. “Only 375 horsepower, so it’s a stone by today’s standards”. Thanks, I don’t think I would’ve been able to comprehend that until I was reminded for the bazillionth time that 375-405hp isn’t a lot in today’s world. How’s that L72 with “450 horsepower” doing today? Running down any scat packs?

That backhanded compliment gets me every time. It’s like, yeah it’s a unique C4 and we can’t ignore it, so we have to acknowledge it….but we can still put it in its place.

I personally think the price increases are more of inflation than anything. Try buying lumber....

:iagree:
We saw the exact same thing in Australia in the last two years due to inflation and supply chain issues on new vehicles. Used vehicle prices, especially specialist vehicles went through the roof. I've never seen such a market escalation before.

You guys are coming into Summer, new car supply is being impacted, and EVERYTHING on the used market is going up.

If the C4 ZR-1 ever appreciates significantly in value, it is going to be when the C8 ZR1 hits the streets IMO.

My opinion,once people start to experience the cars,see that some of the misinformation is false and the car is a beast the values will rise even more. Long time owners have known for years the values would rise and the time is now,it's only going to get better. As far as somebody that wants one,get it while you can. I've had people reach out recently asking if my car was for sale.

Forgot one very important point,DO NOT GO BUY THE BUYERS GUIDES IN CORVETTE MAGAZINES,the writers of these bogus articles don't have a clue as to where the market is going.

Good advice, although some guides are better informed than others. The annual price guide published by Sports Car Market magazine is based on auction results, and their correspondents attend and collect data from virtually every auction that occurs, in person or online. While they have better data than many guides, I am less than satisfied with the way it is presented. My primary gripe about them is that they use a median value, which is halfway between the highest and lowest values they have seen as auction. Statistically speaking, I would much prefer an average, or mean, value to better reflect the market but at least they have been consistent over the years. My secondary gripe is they do not reveal the sample size being used. Below are their values from the 2022 Price Guide for the C4 ZR-1s. Based on the values, I suspect a relatively small sample size for each and I have trouble reconciling the same $22,500 values for four different model years and such a wild outlier for '93 Anniversary cars, which are the most plentiful subset of ZR-1s. I suspect that the SCM Price Guide is more realistic for a number of other cars. In any event, any guide value is simply that: a guide, something that can be used as part of your price research when you are looking to buy or sell a car. The only true way to get an accurate market value for a car is to have a consummated agreement between a buyer and a seller. --Bob

SCM 2022 Pocket Price Guide values for C4 ZR-1s:

1990: $22,500
1991: $22,500
1992: $22,500
1993: $24,000
1993 Anniversary: $48,500
1994: $22,500
1995: $30,500

:iagree: 100%

And for a couple reasons;
1. 400 horse is more than enough for a sports car, really. It's certainly more than enough to make a car "fun". It's a lot. Not a little.
2. Context.
3. What you said about the L72. Those hold high value...they're not fast (by today's standards), so does power even matter for value?
4. WEIGHT. It's like the pundits only look at the hp # and make their judgment. But the ZR-1 weighs less than most if not all of today's cars that also have higher hp. In many cases, 500 lbs or more, less.

Anyway, I liked that post, I agree and I also get irritated when people poo-poo a car b/c "It's only xxx hp" w/o considering the rest of the car and/or the driving experience.

Price guide
 

these prices don’t seem to reflect current pricing at all. Try to buy a clean 94 zr1 for 22k. Will cost at least twice that unless high mileage and modified bit would still be much more then 22,500. Haven’t seen prices like these in a couple years at least , except the 93 which at a little more then 200 anniversary zr1s made is no where near the most “ plentiful “ Zr1 sub set. Anniversary cars have elevated themselves to a slot above the rest of the Zr1s. One recently sold on bring a trailer for over 90k with bat fee included. Haven’t seen other years bring that kind of money as yet but I believe they will as it’s an exceptional car and has a very unique and special place in automotive history.

This price guide is in no way a reflection of what these cars are going for today and in 15 years of ownership Ive never seen this type of premium paid for a Ruby car. This price guide is no more accurate than the bogus price guides published in the Corvette magazines. Why is it the buying public has a much better knowledge about value than the people that get paid to track value on collector cars,boggles the mind.

And as far as the horse power goes you can't compare 375 HP to what's going on today,that's complete bullshit. Kick it back 33 years then you can make all the comparisons you want. Not much of an argument comparing that Camry to a ZR-1. As far as values picking up once the C8 ZR1 comes out,it didn't happen when the C6 ZR1 came out so I don't see it happening when the new car comes out but who knows.

Everything is crazy expensive no matter what the brand and will probably continue for awhile.
Are the Zs themselves appreciating who knows. now would be the time to sell though if youre debating.
Not like a few g is gonna change your life though

Ive poured over literally thousands of ads/week for mos. now looking for a simple driver. Unreal what peeps want. :crazy:

Unreal what people are willing to pay! (not just cars, either). Ski area day tix have blown right on by $200 and resorts are favorable to raising them even more. B/c we need to money? NO! B/c people are happy to pay it and our places are mobbed! :crazy:

I don't "Get it".

I've thought about selling my car,I haven't put 100 miles on it in the last year but I'm a car guy and if I sold it I'd buy another car,don't want anything but a ZR-1. Now,there is a black 91 out there with white interior,6000 miles I'd like to have but nothing else could replace a ZR-1,not for me anyway. I need to get the thing smogged,that's always a stressful experience😳

Collector car value trends tend to peak about 30-35 years after a car was sold new. This is when people near retirement age increase demand for the hot cars of their youth.

let''s wait and see where this 1 of 16 1995 ZR-1 in dark red metallic will end
1995 ZR-1 dark red metallic with 1k miles

Isn’t it a safety inspection, not a smog test ?
When I had my 91 it was just a safety inspection

Calif requires smog tests every 2 years for cars after 1975 except for certain counties.
Not sure where you live.