90 ZR1 vs. 93 ZR1

[73vettecollector]

All:

Thanks for the opportunity to access such info and experience! This site is awesome. I currently own a 73 L82 M21 and am looking to purchase, in the next year, either a 90 ZR1 or a 93 ZR1.

I would like your thoughts on which one you think holds the best investment value. No question about the enjoyment...It's a vette, and I intend on enjoying it no matter the year.

I know the production #'s changed alot, as well as the color options. I am looking for a lower production color, yet want a "collector" color scheme.

Anyway, appreciate your opinions on these two beasts.

Thanks in advance, and keep them posts coming!

Dave

 

[Hib Halverson]

The vast majority of ZR-1s have no investment value, that is: they are not going to appreciate in the forseable future. With a few very rare execeptions, ZR-1 prices have done nothing but fall and probably will continue to do so for another 10-15 years.


If you are looking for something close to collector colors, 95 Dark Purple Metallic, as it was a one-year color, is quite rare. Quasar Blue, Aqua and Polo Green are also pretty rare.

The big difference between the 90 and the 93 is 30 hp.

 

[HPG]

In 90, the first year for the ZR1, they sold 3,049. In 93, they only sold 448. If I were to pick one, a 93 ZR1 with the Ruby option. I don't know how many of the 448 were Ruby RPO Z25 option. Justy my humble opinion.

 

[73vettecollector]

Thanks, I have seen a very sharpe Ruby, but not a ZR1. The first reponse to my post has me sort of baffled. I always thought the ZRs would steady off around 25K, sit for a few years, then slowly head north a bit. Not looking to make a killing because I want to buy a car to drive and enjoy for at least a decade. But when the time does come to sell it, I want to be sure It is at least worth what I paid for it. I have two kids that will be hitting college at the same time. Active Duty military guys don't make that much...

Thanks, David

 

[HPG]

The way that all 4's are dropping in value, I don't think any will how it's value for long.

 

[mnl119]

I agree with Hib that the ZR-1s will continue to decline for a number of years, though I'd estimate that they'd bottom out about 5-6 years from now, right around the 20 year mark. I've been following prices for about 10 years now, and the ZR-1 prices suffered greatly about the time the C6 was announced, or a bit earlier. They really seemed to crater about a year ago.

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.

I bought a pristine 1994 with 16 kmiles last summer for just over 26 k$ from a dealer. Two years previous to that, I wouldn't have been able to touch something like that for less than $40,000.

Although everyone seems to think the 1993-95 models are about the same, the 94-95 models have some interior updates that I really liked... nothing major (differences in the seats, instrument panel changes, etc.) but I just liked the layout a bit better. Just something to consider. I'd recommend at least sitting in the various yeas before making any decisions. I'm 6'5" and about 235 lbs and found that I fit better in the 94-95 models.

 

[Iron Chef]

I remember back in 1990 when the first ZR-1's came out, I visited a dealer in Northridge, California to get a close look at them. I remember there were two on the showroom floor, both with the $60,000 stickers on them and both with the evil "dealer markup" sticker at $40,000...$100,000 each...AND BOTH WERE SOLD!!! I spoke to a salesperson who said "Yup, they're both sold to the same guy. He's bringing in a trailer next week and will immediately be putting them both in storage as an investment." I wonder how that person feels about his investment now?

I'd love to buy one, and at these prices I could, but I'd need it to be a semi-daily driver and I just don't know how that would work out. It's nearly impossible to find an LT5 mechanic and none of the regular mechanics that I know will touch them.

 

[vee93]

I toyed with the idea of offering a lower price on a 93 Quasar Blue Metallic ZR-1 at Roger's Corvette Center in Orlando, Fl.,listed at $56,000+. That ZR-1 matched my LT1 exactly--it was callin to me. Someboody beat me to it--what they paid for it, I don't know. In a way, I'm glad it happened. I don't take my Vette to the dealerships here except for VERY minor work that I'm reasonably confident they can do--and this is only a recent thing on my part due to an ownership change.

I can't even imagine taking a ZR-1 to the dealerships here for service when some of 'em can't seem to service a Cavalier. I think I'd let it sit at my house, enroll in an automotive school and learn how to do it myself.

So I've resigned myself to place a ZR-1 at the bottom of my list of "Vettes Wanted" for now.

Hope you have a good mechanic or can do maintenance yourself. Happy huntin!!!

 

[Hib Halverson]

(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.

 

[mnl119]

Hib,

Just curious and asking for your opinion... From 1975 on, what are your top five most collectable cars?

Mark

 

[6 Shooter]

Sorry not trying to try and change your mind . . .

I think the 94 & 95 year ZR-1's are the best to purchase.

Later . . . . . .
6 Shooter

 

[8388]

I think the 94 & 95 year ZR-1's are the best to purchase.

Later . . . . . .
6 Shooter

Eventually, every year will be a good one to buy. This has happened many times before with other models. The key factor will be more of how the car was taken care of rather than the year model. I'd rather have a perfect 90 than a basket case 95.

 

[Hib Halverson]

Hib,

Just curious and asking for your opinion... From 1975 on, what are your top five most collectable cars?

Mark

Understand that, to me, "collectable" means "cool to own" not "is or will be worth more than I paid for them".

In no specific order

82 CE
93-95 ZR-1 in other than yellow, red or black
04 Z06/Z16
75 BB 4-spd convertible
96 GS Z51

You limited me to five but there are others.

 

[Rob]

In my opinion, purchase what you can afford. At least that's my perspective on the issue.

When I chose to buy my 1990 ZR-1, I bought it red on black, because that was my absolute favorite color combination and I dreamed about having a sports car that was red with black interior.

I could have waited and gotten a color, more rare, and maybe the color would have demanded a higher price, but chances are, it would not have.

I could easily sell my ZR now and go buy a 1993 or newer one, but what for? The second gen. LT5s came with a few more horses, but they also gained a few more pounds as well. The earlier 1990s are basically as fast as the later models.

The one thing that I think is unique about the 1990, vs., the 1993, is that the 1990 looks more unique because it has the rounded rear bumper and the front bumper cap carried over from the previous model year. Starting in 1991, all Corvettes had the same style rear and font-end caps. So from that perspective, the 1990 is the most unique.

But again, buy what you enjoy and don't worry about investment. The original owner of my ZR, paid $86,000 (Canadian) for my ZR-1. He sold it for $48,000 (Canadian) to a Ford Dealership and regretted buying the car as an investment.

If you're really set on buying a ZR-1 as an investment, either get a 1993 40th Anniversary edition, or go for a 1995 with Dunn heads.

 

[WhalePirot]

I'd buy something other than a car for investment; like real property, with income. Many Naval Aviators acquired multiple properties during their 'time'.

If you want to drive the 'investment', look for a real nice C-3 or early C-4. They should be near the bottom of their value.

 

[mnl119]

Interesting thread..

Hib, why the '82 collectors edition? Seems out of place with the rest.

For me, the "investment factor" is just part of the thrill and mystique. I enjoy my '94 for all of the reasons mentioned by others, but I really think it'll be worth something on 20 years, and that's just icing on the cake. Maybe I'm just kidding myself in the long run, but who cares, dagnummit, it's my fantasy.

The only downfall is it prevents me from driving it more. Can't have my cake and eat it too, I guess.

 

[8388]

Last year for the BB was 74. In 75 it was either the L-48 or the L-82

 

[JimVette]

I have the Red/Red color combo and although it was the most ordered color I like it. The biggest kick I get is telling Viper and other Vette owners, with few exceptions, that they never put an LT5 engine in a truck, Camaro or Firebird.

 

[ZRXMAX]

Dave
Your in for a real treat... figuring out what you want is the biggest factor as many have already mentioned... make a list of requirements... then start looking for a Z that fits... Try not to get to hung up on one paticular ZR1... in the end you can have the ride you know you deserve because you did your homework... Half the fun is just doing what your doing now... Welcome to the ZR1 fraternity...
Good Luck...
ps... we want pictures when availible !

 

[Hib Halverson]

Interesting thread..

Hib, why the '82 collectors edition? Seems out of place with the rest.

For me, the "investment factor" is just part of the thrill and mystique. I enjoy my '94 for all of the reasons mentioned by others, but I really think it'll be worth something on 20 years, and that's just icing on the cake. Maybe I'm just kidding myself in the long run, but who cares, dagnummit, it's my fantasy.

The only downfall is it prevents me from driving it more. Can't have my cake and eat it too, I guess.

Well, again...you the question was what I thought was the top five collectible Vettes. I prefaced the reply that I don't own Vettes for investement and I see no thrill or mystique in that. I "collect" Corvettes which I think are cool cars...in one respect or others.

First, 82CEs are very attractive, the combination of the paint (called Silver Biege by marketing and "Champaign" by design staff), the CE graphics package and the 80-82 body, made a great looking C3. Second, technology. It was the first year for EFI and the first year for 4 spd auto. Third it was the final C3. Admittedly, 82CEs didn't perform well nor did they ride well, but they are cool cars, indeed.