Is the whole collector car universe missing the elephant in the room? We’re all chasing classics. GTOs, Camaros, Mustangs, but they’re getting so out of reach. There are basically no five-thousand-dollar drivers left. Heck, that kind of money barely buys you a rusty hulk that last drove in the Carter Administration. What are we doing? Maybe we’re looking at two seats too many. Maybe the answer is as close as the ad here on eBay for the 1989 Corvette that is waiting for a new home in Cincinnati, OH. You do agree that the current bid of $6,100 is next to pocket change, right? The auction goes for five more days, so let’s see what other people—ie. bidders—think.
This car is uber-stylish, but it’s not wicked fast by today’s standards. Heck, you can get 485 horsepower from the standard-issue (ie. not factory modified) Mustang sitting on your local dealer’s lot right now. Sounds pretty good, until you take into account that those cars sticker at somewhere tickling around 50. Thousand. Dollars. This Corvette, by contrast, is just shy of 250-hp, and it could well go for under ten thousand bucks. Add that to ice-cold factory air and under 68,000 miles on the clock, and wow!
The current market values are highlighted in the ad, an indication that this guy (or the family he represents) really, really wants to sell. The language of “I’ll make a deal” is all over this posting. For instance, he cites the value, but then he suggests a discount: “The current NADA Book Value is: Average-$8,850; High-$13,500. Do not let these values stop you from making an offer today.” That is reinforced with “The family [of the deceased owner] is a motivated, very reasonable seller. They reserve the right to sell the car early, if you would like to make an offer today.” But let’s read that not as high-pressure, but rather opportunity calling. Can you see yourself driving around in this C4 sportscar? Remember, you will have spent a fifth of what the classic-1960s guys have sunk into their rides. Might be a good threshold car—something to get you into the old-car club while you plot your advancement to that 1968 Mustang Fastback that will make you Steve McQueen.
Note that the car is described not as a pristine show vehicle, but rather a well-preserved original. One question that occurs to me is whether the claim that it has been garage-kept its whole life can be supported when there have been five owners. Maybe the best way to judge is to go have a look, which is invited. But be careful—you might waste your return-trip airfare, because once you get chatting with the seller, you’re only a credit-card spending limit away from making this Corvette yours. And you know what? Good for you. This is where the trendy buying is going as the hobby admits that the 1960s are well and truly over.
Thought-provoking observations Brian K. It is interesting how certain cars (and, even certain eras) become “it”, and others aren’t. And how that drives value. Which may or may not equate to how capable, comfortable, useable, dependable etc. they may be.
Corvettes of this era are examples of this phenomenon. I’d say they make fine collectibles, even this generation. However (obviously) they are not 60’s muscle cars. But they are available at a fraction of the price compared to say a 60’s Corvette in similar condition. And would still provide plenty of joy of ownership.
I guess I am suggesting: one might be just as happy with a collectible car which cost $10k, as opposed to one which cost $100k.
Absolutely right Bob! I have an ‘84 Eldo Biarritz convertible, and am more than happy with spending the lesser amount than what an original show car would have cost.
You can buy C4s in this condition and in this mileage range for 6-8 grand on Facebook marketplace all day long. A lot of people bought these as second cars and a lot of people salted them away thinking they were going to be worth a fortune.
These came out when 1960s muscle car values were rising fast, so everybody assumed these would be the same. So there is a lot of supply but not a ton of demand.
I wholeheartedly agree with Bob in that you do not need to spend a lot of money to enjoy this hobby. You just have to be creative.This is definitely one way to be creative.
I agree C4 Corvettes are a fun car/performance car bargain today. The later ones are over 300 horsepower as they just got better as the platform went on. I’m in the market for a clean low mileage one, 1991+ models can be had with the updated look for under $20k in mint condition.
It was our government’s fault that the malaise era cars are crap. Smog rules. No 2 ways about it.
There are no longer many 1960’s or early-70’s muscle car based driver quality cars that are under $5,000, but there are and always have been a large number of enthusiast oriented cars available at reasonable prices for anyone willing to broaden the types of cars they are willing consider. In the early-1980’s me and my friends wanted LS6 Chevelle’s, Z/28’s, Hemi or 440 Six Pack Mopars, GTO Judges and others, it didn’t take us long to figure out we couldn’t afford them so we settled for 383 Road Runners, SS350 Camaros, 4spd small block Chevelle’s. It’s easy to forget and pushes against some popular narratives that over time people have always been adjusting their buying patterns based on price and availability, at some point square body short bed pickups, base model GM intermediates, 68-72 small block Nova SS’s, became sought after where they had been ignored prior. Potential buyers have been adjusting their buying patterns for decades, they still are.
The C3 and C4 Corvettes will always lag behind C5’s, largely because those came with LS based engines and had a giant leap in performance. Because the basic platform, 2 seat fiberglass sports car, never changed there isn’t enough of a differentiation between generations to drive their values significantly higher based on the generation they belong to as a driving factor, beyond the C2’s.
Steve R
The problem in the 70s and 80s was simply finding the top end cars. In a fairly rural area, with no internet and armed only with newspaper ads, you had virtually no chance of stumbling onto the rare, more desirable models. Luckily, I knew a lot of people in my little corner of the world and was able to find out about and buy up a number of big and small block six pack cars and Camaros throughout the late 70s and 80s before the dirt track racers could gobble them all up. I only kept three in the end, but really only regret selling one, my A12 four speed Superbee. What a handsome brute that car was.
Took the butter out of my mouth.
I love these older vette styles. My problem is with the interiors. The fit and finishes and gaps squeaks and rattles are like any old Chevrolet!
One of the best bargains out there is the C5 Corvette. As with any point in time, since the creation of the internal combustion engine, if you want to go fast you have to think outside of the box. Four door sedans, engine swaps and pickup trucks are good workarounds.
I am thinking about getting another C4 again (had a 87 convertible some years ago) and the 89 is my favorite year, as its the last year of the ones with the digital old dashboard. Also you can get he with the 6-gear- manual.
The car here is an average car, that you can find often- with a cracked roof and some issues like clearcoat damage on the wheels etc. Tires look old, too. I dont think, its worth more than 7-7,5K.
The black/ black color would be a killer for me. I would prefer a more colorful one and with a red or beige interior.
Hi Steffen, I think I got lucky when I found a nice ’93 convertible in just the very color I was looking for. Bright Aqua Metallic with a tan interior, at some point the roof was replaced with a black one but I think it looks good and didn’t break the bank.
Cheers,
Don
I always like this generation. You forgot to mention the outrageous prices for MOPARS.
I test drove a new early 90s C-4 at Dan Young Chevy in Indianapolis. Drove it without the salesperson. They had dozens on the lot…. salesperson said pick the color you like… happened to be the same color combo as the find. I have a picture of me next to the car (wish I could post it)…smile a mile wide. C 4s are enjoyable and affordable.
Even bigger bargain than this, with 300 HP: late 90’s Camaro with LS1 and 6 speed. Similar quality inside and out, very similar driving experience – and a back seat!
Yeah, you’re not driving a Vette, but if your ultimate goal is 300HP (more if you opt for an SS) in a classic car at a bargain, these are very hard to beat.
too hard to get in and out of.
I am aware of another elephant in the room situation , this one has lights and disco balls but am not allowed to mention it here because of sensitivity