Zl1 #4 $380,000

[Mr.Nickey Nova]

Marlin,
You are doing a great job bringing your kids up working on older cars. There is nothing like learning how to work and drive these old cars. I'm sure Ben can't wait to get that BB Nova on the road. Learning to drive stick will be fun for him also. Lot's of people today don't even know how to drive stick....

[YENKO DEUCE REGISTRY]

To be honest, he's about 50/50 most of the time between his TR'd Nova and his LS1 Trans Am. The T/A is a great first car, LS1, Ram Air, WS6, leather, 10 speaker stereo, T-tops and he ran a 13.09 without even changing the air box! It's really hard for today's youth to appreciate the old stuff when they can buy an LS1 car with 60k miles, not a ding or a dent for $10k!

[Steve Shauger]

I don't think you can judge a market on this car or just few examples. Also I agree the young generation is used to cars that can stop, turn and go fast for under 10k, so that segment is hooked on later models like we were back in the day. Yes our muscle cars were ahead of their time, like todays cars ...LOL


Our cars are collectibles, and a niche market, and like all market segments it has it's ups and downs. As has been pointed out, we all age, so have the muscle cars we grew up. Blue chip cars are like waterfront property they are not making anymore. The segments below really rare cars will have fluctuations, and corrections based on demand such as waning interest.


Rare also includes unrestored time capsules which although may have been produced in hi volume, but very few have been preserved.


Restored cars done to a high concours level are rare as well, and garner a premium based on who restored, quality of components and techniques used.


The bottom line is we all relate to these cars in different ways, and if you have a passion and love them markets fluctuations mean little. If you are heavily invested and look at these as investments and a business well there is risk like any investment.


Personally I like and own all types of cars from concours to survivor and all have their place. My most enjoyment is thrashing on my driver orange 69 RS/Z that started it all.

[novadude]

Originally Posted by YENKO DEUCE REGISTRY

The T/A is a great first car, LS1, Ram Air, WS6, leather, 10 speaker stereo, T-tops and he ran a 13.09 without even changing the air box! It's really hard for today's youth to appreciate the old stuff when they can buy an LS1 car with 60k miles, not a ding or a dent for $10k!

Putting a bit of perspective on that, There was no way I could have afforded a new $20k IROC back when I graduated high school in 1989. Instead, I wanted a 15-25 yr old muscle car that I could afford.

Back in 1989, a 1969 model was a 20 year old car. In 2018, a 1998 LS1 Z28 or T/A is a 20 yr old car. Seems about right that kids would be buying these cars.

[Mr Yenko]

On the price of the ZL-1 bidding to $380.000. What I have observed over the years is any good car doesn't need to be SOLD through a auction house. They trade between the big collectors so no one knows there business. Auction cars are what I have felt to be the leftovers if that makes any sense. Just my opinion

[Steve Shauger]

Originally Posted by Mr Yenko

On the price of the ZL-1 bidding to $380.000. What I have observed over the years is any good car doesn't need to be SOLD through a auction house. They trade between the big collectors so no one knows there business. Auction cars are what I have felt to be the leftovers if that makes any sense. Just my opinion

To make a blanket statement that auction cars are leftovers in my opinion is simplistic and just wrong. Many spectacular cars have been bought and sold at auctions. An auction is just another method to buy and sell cars. There is certainly a risk selling at a no reserve auction because the attendee's at the auction set the market (at that time and place) so there is risk, but also reward if you have at least two must have bidders. Obviously auctions can produce tremendous sale prices for sellers.


I will say I see many cars relisted on ebay auctions and other outlets and I would consider those "leftovers". The car in question had not been for sale for years and certainly not a leftover. Those who attended either were not in the market for a ZL1, or didn't like the options or restoration.


The only issue I have with an auction is the ability to really examine the car beforehand. If I had already examined a car and the seller wanted to sell at auction I certainly would have no issue bidding to my comfort level.

[x33rs]

I don't believe in the market dying syndrome. If that were true all the brass era cars would be worthless right now. All the desirable muscle cars will still bring money for years to come.

Cool ZL1. Options don't bother me at all. I wouldn't kick it out of my garage. I mean common, it's a ZL1!!

[SBR]

Originally Posted by x33rs

I don't believe in the market dying syndrome. If that were true all the brass era cars would be worthless right now. All the desirable muscle cars will still bring money for years to come.

Cool ZL1. Options don't bother me at all. I wouldn't kick it out of my garage. I mean common, it's a ZL1!!

Agreed, look at the supercharged Duesenberg that sold for 20 million at Monterey, twice its estimate. The best of the best musclecars will continue to escalate in value for many years to come.

[302moz]

I agree with Mr.Yenko.