C5 Z06 market value development

[Oliver S.]

I'm interested in buying a 04' C5 Z06. Since I live in Germany I depend on the $-Euro exchange rate, too, which is currently not favourable. I'd like to take the market value into account, i.e. have low mileage cars below 20.000 miles already reached the bottom or does the price still decline or does it go up?
Thanks in advance.

Oliver

[Mark E.]

Re: C5 Z06 market value development

Oliver,

C5 Z06 has been a great performance value for a few years now. They seem popular with enthusiasts who wants an affordable high-performance toy for the road and track. But trying to predict the future of the Corvette market, let alone the value of a specific model, is like predicting interest rates or the stock market. Nobody really knows. If I did, I'd be rich.

This takes me back to 1999 when I thought the C4 ZR-1 was a bargain. I love those cars, so I acquired a nearly perfect '90 model with 6,200 miles from the original owner for $29,000. My thinking that it was a bargain was correct- it was a blast over the six years I owned it. But my thinking that ZR-1 prices bottomed and would soon rise was wrong. Today, those cars are still struggling to appreciate.

But I was able to sell it six years and 8,000 miles later for $27,000. What other car could offer that experience for $2,000 in depreciation plus routine maintenance?

My suggestion is to decide if the current market price is a good value for YOU. The car you mentioned is 14 years old, so it's already suffered most of its depreciation. Going forward, the question is if and when it will appreciate as a collector car. It's icing on the cake if you're lucky and enjoy a market upswing while you enjoy it. And remember, your odds of a low cost experience is better than a new Corvette buyer, who faces significant depreciation with certainty.

[Michael J.]

Re: C5 Z06 market value development

IMO, the C4s and C5s have not yet reached the bottom of their depreciation curves. Even the late C3s have not either, all these can be expected to continue depreciating for some time to come, just too many out there and the demand is not there.

[Bill L.]

Re: C5 Z06 market value development

Oliver....Just some thoughts----

The C5 Z06 is a neat car and really unique given that it is the fixed roof coupe style --- no other generation has that particular look.

However, the C5 Z06 cars offered 405 HP ---- but if you go into the following generation (C6) you get a base car close to that HP rating --- I think the first few years were at 400 HP --- and prices, options, features etc change again and mostly for the better....

I love the C5 cars and I owned one --- but the C6 was a way better car (in my opinion) --- If I were in the market and considering performance and features / options I would come down on the side of the C6 every time --- unless of course you love that fixed roof coupe then your decision is made for you -----

As for depreciation --- a vendor here in the states sold a 2004 special edition Z06 with under 1,000 miles for just over $40K -last year----conversely there are C5 Z06 cars on Hemmings that range from around $20K (high miles of course) all the way up to the $40K range.

But just to demonstrate the C6 possibilities ---- another vendor has several 2006 and 2007 Z06 models in the $30K - $40K range with 505HP....and the mileage is around 6K - 7K ----

As I said --- given a choice I would opt for the C6 Z06 cars over the C5 --- 100HP more -- similar price range as a really nice C5 Z06 and way better options --- just my opinion ----

Regards
Bill

[Bill L.]

Re: C5 Z06 market value development

Oliver ---

Sent you a PM with a link to a Z06 ---

Bill

[William F.]

Re: C5 Z06 market value development

IMHO, not ever going to be a classic or bring big money.

[Oliver S.]

Re: C5 Z06 market value development

Here in Germany things seem to be a bit different with respect to cars reaching a certain age. After 30 years a car is considered historical and, hence, tax is not calculated based on displacement but, instead, is fixed. Insurance is also cheaper since it is assumed that these cars aren't driven that frequently. So all C3 prices increase, also early C4s. Later C4 cars have reached the bottom. C5s still decline but not that much anymore. Since C5 Z06 were never officially sold here there are only a handful around. I guess that only real Corvette enthusiasts are into them ... not that much, too - a very restricted market. Most people choose a C6 instead. But I appreciate the rare cars .. .

Oliver