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 $6100 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.
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.