Did everyone’s 1970s Camaro just get more valuable now that there’s one of the next generation, a 1989 Camaro IROC-Z, casting a big-money shadow backwards, since it’s priced in the mid-40s? I’m sure some people hope so, but let’s parse the situation before taking out equity lines of credit against our 1970s pony cars. This stunner is available here on ebay with a current bid of $30K not meeting reserve and the buy-it-now price set at just under $46 grand. It’s in Boerne, Texas, in case you’re planning to meet the seller’s price demands.
And if you do, what will you get? A pristine car from stem to stern, in a delicious factory red with 3977 miles on the clock and a gray cloth interior. The IROC-Z was produced from the 1985 model year until 1990, originally as a package on the Camaro Z28. It started out with a 305-cubic-inch engine, and later moved to offering an optional 350. This one has what was by that point called out as a “5.0-liter TPI” (Tuned Port Injection) V8. There’s no indication as to its condition as a runner, so we just have to assume that it would start up and go. There is information in the form of Pontiac documentation that substantiates the equipment, but it would be fun, also, to know the history of the car from an owner’s (or owners’) perspective. There is a vehicle condition report that you can buy if you want to investigate what that details.
IROC was the “International Race of Champions,” a series that put drivers from different racing disciplines in identically prepared cars to see whose skill would win out. This started in mid-1970s. In 1989, the IROC series was contested by a dozen drivers with names like AJ Foyt, Richard Petty, Hurley Haywood, and Al Unser, Jr. They raced four times, at Daytona, Nazareth, Michigan, and Watkins Glen. Terry Labonte came out the champion, with Al Jr and Rusty Wallace following him. The prize money to win the series was around $200K, maybe half a million in today’s equivalent. You might remember these races appearing on TV in the Saturday afternoons of race weekends. At least, that’s how I remember the series. It went on until 2006, though it was not contested every year. Tony Stewart as the last winner, driving a Pontiac Trans Am.
So you’re getting one of two things here: a rather expensive but essentially unrepeatable opportunity to buy a nearly new version of the car you wished you could afford in 1989, or a rather expensive relatively limited edition collectible that presents almost as it did on day one off the dealership floor. It would be a shame to get this and pile on the miles, especially at the premium price that the current owner is attempting to achieve. For 30K, maybe. But not upper $40s. At least not yet. That’s the “Do I drive it?” question answered. The “How should I view this IROC as a collectible?” is another matter, with auction results steadily pushing up close to the value this seller is demanding. Your question, then, might flip again: what else can you get for mid-40s money, and how much fun would you have with that versus this Camaro?
This car is at a car lot about 20 minutes away from me. They have a number of performance cars and trucks, including a 1970 Mustang 351C 5-speed that looks to be restored. I should go up and look around but that could be dangerous!
It would be great if you went up there and reported back on your findings.
The good news is that 1989 is considered the best Third Gen year. 1LE available, G92 package, the best motors at near peak power (LB9 5-speed and L98), N10 dual cat debut, Borg Warner rear end, PBR rear brake calipers, and pre ugly airbag steering wheel and weird yellow marked gauges.
The bad news is this is the base IROC without any of these goodies. It even lacks the performance 245/50ZR16 tire package, and has the low performance 190 HP 305 TPI with the “peanut” cam. In other words, not the most desirable of the ’89 IROCs (1LE and the 5.7 and LB9 5-speed cars)
It’s value lies in the color, and the mileage. Which basically means you can’t drive it if you want to maintain the value.
As to what that value is, I’m not sure anymore. The market is so crazy. It’s already bid to way more than I would pay for it but I remember a time (pre 2017) when you could get a 1LE in the low 20s. 40k seems insane to me but I bet some collector will pay close to that.
I also note that this is a Preferred Group 2 car (this was early in the option group era) , meaning that it does not have power windows. Most IROC buyers sprang for Group 3, which had them. Those who didn’t usually saved money with Group 1, or no package at all. It’s pretty rare to see crank windows in any IROC of this vintage, much less one with a lot of other options like this has.
So it was likely custom ordered, which is not surprising given that the original owner was persnickety enough to just put it in storage judging by the miles. That might make it rare and interesting, but it doesn’t help with the value.
Thanks for this excellent, informative, post.
And thanks for bringing it and writing it up! I’ve owned two third gens, two second gens, one first gen, and one fourth gen, so I’m kind of a geek when it comes to these LOL! This is one of the more interestingly equipped ones I’ve seen.
13 dollars
God in 2000 a buddy and I went off road in one I had and after we got done we tossed it in a chipper at a recycling center he worked at ha
Put it away another 20yrs,then it might be worth 40 something thousand.a plastic 80s camaro,whatever….
Seeing a 3rd gen Camaro at a ridiculous $40k+ price like this is disconcerting for someone who came of age in the 80’s and lusted for cars like this when they were new. Even if I was stupid rich, I’d never lay down that kind of cash for anything short of a Saleen Mustang, ZR-1 Corvette or 1LE IROC in excellent, low mileage condition. Some people need to stop watching the major auction shows and lay off the devil’s lettuce before they put their cars up for sale. $46,000 for a low option 80’s Camaro? JHGDMFC!
Like I said, I’m a car guy that grew up in the 80’s, and these are the cars I dreamed of owning, but now the market is so completely insane that I fear I’ll never get to build a collection of awesome 80’s performance cars. Breaks my heart.
Me too, and I’ve always wanted one of these. But at this price, no matter what options or configuration, ain’t no way. I can think of 100 cars I’d rather have for this amount of money.
Right? There’s so many cars that are vastly superior to this IROC for the same price or less that I’d rather spend my money on. Starting with a C6 ZO6 or any V-8 Mustang from the last 25 years, either of which will run circles around anything from the 80’s. You can get a 2011+ Mustang GT with over 400HP, a 6 speed manual and independent rear suspension for half what the seller is asking for his IROC.
Or a 50th anniversary serialized and numbered Mustang GT. I know it’s a Ford, but heck–it’s still good looking.
Meant to write 2015+ Mustang. Darn sausage fingers!
I own an 89 iroc Z. It has every option available except for one or two. It even has the CD player which was new for 89. I just raised the insurance value on it up to $15,000. It has a new interior. New paint. Engine rebuilt. Difference of having a car you can drive versus one that you have to look at for $25,000 is ridiculous.
It’s a very nice Camaro but it’s simply too expensive. You can into nice used late model one now for that money and it’s well into the 4’s for horsepower. Or, if you like a nice mopar, or mustang.
I have an 86 IROC with 13100 miles. It has the 305 with the 700R transmission this is a fun car. I purchased it back in 1992 with only 78000 miles on it. It was my weekend driver is why it only has the 13100 Miles on it. Man they can handle a curve.
Cars not worth the money as equipped, it’s just not that special, dear friend of mine had an 88 Monte Carlo SS, brand new with the 305 in it, latter on in life after becoming quite well off, and owning a slew of Benz’s, and other really nice cars, he asked me to help him find another replica of his and we did, well I must tell you, that puffer 305 is a big letdown,
I have a 2004 mustang 3.9 l v6 convertible that makes the same 190 hp. I paid $2100. Put in another $2-3k in up grade and have a fun car i can drive. This is nice but $40k??? I doubt it.
I still have my 1992 convertible and I say the value deserves to skyrocket.
Check under the aero skirts. I drove my 84 Z28 HO 5 speed graduation car (IROC testing the waters) down to OK and kept hearing a dragging sound in the early 2000s. Turns out that dammed KS roadsalt rusted out the rocker panels. That last plastic rocker panel fasterner holding on for dear life gave up on I44. God rest your soul fastener. You tried your best to keep my Z28 pretty….
I have 3. 3er gens I want sell.
87. Road raced car. 18k miles.
88. 42 k miles stock.
91. 5.7. Road and track cover car. 156k. Miles
02. WRS .TA. 54k miles.
02. SS. 46k. Miles.
No matter on how you feel about the value….the prices are only going to increase….remember you only have to impress one person..the person who wants the car…..the value of cars available today are way too high…but if you dont pay you dont play….car collecting has become a wealthy man’s game…..