mnl119 said:
(snip)
Unlike Hib, I think the low production numbers will help with long term collectability. Sure there were plenty more ZR-1's produced than say the L-88 corvettes of the late sixtees, but from the late 70's on, the ZR-1s are arguably the most collectable due to their uniqueness factor and the story behind the car. Also, the population of this country doubles about every 38 years, so demand for collectables might increase. The only down side is that right now, there are a heckuva lot of low mileage ZR-1s out there.(snip)
This thread has become a very interesting discussion.
With respect to 67-69 L88s and ZR1s, the comment that "plenty more ZR1s were made" is an understatement. 216 L88s were built vs 6939 ZR1s. I don't think the 90 and 91 MRs are low production numbers, however, the 92-95 MYs are, indeed, low.
There are several other issues which, in the near and mid-term, will, IMO, prevent ZR-1 prices from appreciating.
1) age. L88s really didn't become "investments" until about 20 yrs after they ended production. ZR1s have about a decade to go before that and....it will probably take longer.
2) race heritage. Part of the L88's collectability was that a) it was a race car for the street (which the ZR1 is decidely not) and b) it had a notable race history (which, other than the World Record Run) the ZR1 did not.
3) Parts shortages (perceived or actual):Many believe the ZR1 as a car for which a significant parts shortage is developing. The the practical effect of this is probably less than urban legend would have the ZR1 community to believge, but nevertheless, it is an issue but, IMO, is more of an issue with body and exterior parts than it is with powertrain parts--at least, that's the case right now.
4) Service shortage. Again, I think there can be problems there, but the actual situation (at least in the eastern, southern and central parts ofthe U.S.) is not as bad as urban legend would have some believe. With the exception of the LT5 engine, most of the ZR1, from a service standpoint, is not greatly different than any later model C4. In general, LT5 engines which are not heavily-modified and/or not raced frequently have had very good durability, perhaps better than most other engines of the same period. In spite of what many claim, the LT5 is a DIY engine in many service respects, but it does have a learning curve.
I think all of these issues, along with the fact that a) C5 Z06es and C6 Z51s eclipse the ZR1 in some performance areas and b) that many non-hardcore Zroners are moving up to better performing, nicer riding cars which are less of a parts problem, has the market "flooded" with used ZR1s. As long as that continues, prices will fall.
When will ZR1 prices rise to the point where one could "make money"? Probably not soon, but it will be "sooner" for 92-95 than for 90-91. If you want an investment-grade ZR1: the cars to watch for are 93-95 in rare colors, with low mileage, stock or near-stock and with a unique history. You should make your purchase after the C6 Z06 is out for 6-mo to a year. Combine those situations and you might (just maybe) have a car that within ten years is worth more than you paid for it.