appreciating or depreciating?
#1
Supreme Member
Thread Starter
iTrader: (2)
Join Date: May 2002
Location: Everett, WA
Posts: 4,449
Likes: 0
Received 8 Likes
on
8 Posts
Car: 87' IROC
Engine: L98
Transmission: T56
appreciating or depreciating?
Are 1987 350 IROCs in perfect condition with 30,000 miles going up or down in value? Or when will they be going up in value?
Thanks
Thanks
#3
Supreme Member
Thread Starter
iTrader: (2)
Join Date: May 2002
Location: Everett, WA
Posts: 4,449
Likes: 0
Received 8 Likes
on
8 Posts
Car: 87' IROC
Engine: L98
Transmission: T56
I hope so, kelly blue book says its only worth $4,500. It seems awfully low for a first year 350. Do you think i could actually get more than $4,500 for it?
Thanks
Thanks
#4
Supreme Member
Join Date: Sep 2001
Location: La Crosse, WI USA
Posts: 1,118
Likes: 0
Received 3 Likes
on
2 Posts
Car: 87 IROC-Z
Engine: 305 TPI
Transmission: automatic
Axle/Gears: 3.23
Yes, Kelly Blue Book does not take into account for desirability. They consider it a car just like any other. I've seen cars like that, around here, going for 9,000-11,000.
#7
They seem to be going up, but that's relative to a good market. If the economy tanks, so will the value of these cars. Good rule: don't buy thirdgens for their "investment potential".
Trending Topics
#8
Supreme Member
Join Date: Jan 2001
Location: Someone owes me 10,000 posts
Posts: 7,164
Likes: 0
Received 1 Like
on
1 Post
Car: 99 Formula
Engine: LS1
Transmission: T56
Axle/Gears: 342
I've seen 5.7s with over 100k trying to sell for that price on autotrader when I was looking for one, couldn't find one below 4k or so.
#9
Member
Join Date: Feb 2002
Location: Griswold CT
Posts: 298
Likes: 0
Received 0 Likes
on
0 Posts
Car: 91 Z28
Engine: L98 350
Transmission: Tire Chirpin A4
Collector value is what someone (a collector) is willing to pay. Kelley blue book is under rated and used mostly for dealers (to rip you off). If a dealer had a 30,000 mile '87 Iroc they'd ask much more that $4500.00. I know, my Father in Law used to sell cars. They gave a guy $10,000 dollars for a 55,000 mile big block '67 vette. How much does collector value say they're worth? Nuff said. Later....
#10
How 'bout an IROC-Z 1990 TPI ?
Do you think that a 1990 TPI IROC-Z with 305 and T-5 w/c is worth more than the blue book price of 3500? Car is in good condition once I work out a small ($1200) problem with a bad driver. Got leather, power everything. Not selling it but I'd like to know about what one s worth, I never get a strait answer so I keep asking
#12
Member
iTrader: (5)
I think all third gens are about bottoming out on price now. I just picked up a 87 TPI Iroc, that is absolutely loaded for $400. There will always be people out there that think that their cars are worth more than they actually are and people can ask anything they want for them, but what are these cars actually selling for??? I can't remember who, but I know someone picked up a 82 Pace Car with 19K miles on it for like $8500. I pass on 350 Iroc's everyday for $2000. Most of them just don't get sold. I finally talked the wife in letting me get another 82 Pace Car because I know that they will probably never be cheaper than they are now. I am also probably going to pick up a 350 Iroc or a B4C car, and don't expect to pay more than $3000-$3500 for a NICE example. One of my buddies just picked up a 91 Z28.. 350 car, leather, ect. for $1500. Deals are out there, you just have to look.
Low mileage cars will always bring more $$ from Collectors, but for the most part collectors are not looking at these cars yet. They will be, but it is still pretty early for them. I had another 87 Iroc, Black, T-tops, LB9, 5 speed, other normal options, had 58K miles, kept in in the garage for years and sold it about 6 years ago for $7500. Today I could NEVER get that kind of money out of it, but someday it will be worth more. I am pretty sure they are bottoming out on price. I remember the same trend with the 2nd gen cars. There was a time you could not give those away. They are still not worth anywhere near first gen prices, but are surely appreciating in value just as the third gens will.
My hats off to all the people with the super low mileage cars, I do not know how you kept from driving them, but those are sure collector cars, but at what expense?
This post is not meant to flame anyone, as I love this body style and have owned more than I can could since a few years after they came out.
Tom
Low mileage cars will always bring more $$ from Collectors, but for the most part collectors are not looking at these cars yet. They will be, but it is still pretty early for them. I had another 87 Iroc, Black, T-tops, LB9, 5 speed, other normal options, had 58K miles, kept in in the garage for years and sold it about 6 years ago for $7500. Today I could NEVER get that kind of money out of it, but someday it will be worth more. I am pretty sure they are bottoming out on price. I remember the same trend with the 2nd gen cars. There was a time you could not give those away. They are still not worth anywhere near first gen prices, but are surely appreciating in value just as the third gens will.
My hats off to all the people with the super low mileage cars, I do not know how you kept from driving them, but those are sure collector cars, but at what expense?
This post is not meant to flame anyone, as I love this body style and have owned more than I can could since a few years after they came out.
Tom
#13
Moderator
That was me with the 82 Pace Car at $8500. By the way, that same car took 1st place in it's class at World of Wheels and also a Super Chevy Award of Excellence award. This car is definately worth more, but was stolen at the price I got it for. As for the price going up, I think it's premature. People are asking more for the cars than they are worth. If I were to sell my IROC, I would do the same. If somebody will pay the price, then they set the precedence in that area. 88IrocIroll just traded his 19k mile 350 IROC for a Z06 and the dealer gave him $10k on trade in. This could be the signs of a changing mindset on the 3rd gens.
#15
Supreme Member
Join Date: May 2002
Location: Tucson
Posts: 1,512
Likes: 0
Received 0 Likes
on
0 Posts
Car: 1987 IROC-Z
Engine: 305 TPI
Transmission: T5
IROC-Z 350 TPI's and 305 TPI's w/ 5 speed manuals are what everyone wants, T-tops or not. My 87 IROC-Z 305 has over 170,000 mils on it but runs like a champ! I know I can sell it for well over 4K if I wanted to.
#16
My 1990 IROC has 94,000 miles on it and it is in good condition, I bought it last year from some collage kid for $3000 The car is completely stock and the TPI is still running in top form.
#17
I just bought my 67k mile IROC convertible for $7000. The sellers said they were getting calls and e-mails all day long after I bought it (I happen to call on the first day it was posted). The other vehicles I looked at (low mileage, good condition cars) were selling within a day or two at the $6-7000 range.
#19
Here is my example that they have either bottomed out or are starting to appreciate a little:
I bought my 92 Heritage z28, with every option,350, leather, 45k miles, etc,, etc, for $8k may 2001.
I sold it 9 months later with 50k miles, new tires, new compressor for $10k in the same area!!
This 3rd gens will appreciate in about 5 years but like everybody said, if you can get one now, grab it!!!
Look at the 2nd gen camaros. 5 years ago you can get just about any 78-81 z28 for under $1500 and a clean one for about $3k-$5k. I have tracked alot of 78-81's sold and they are appreciating now. The 77-81 trans ams are also appreciating. I even saw an 80 z28 with 23 miles go for $20k I believe and a clean 4k mile trans am go for I beleive $16k.
I have decided to enter the 3rd gen market again so I am on the lookout for a 87-90 IROC or 92 z28!!
Manny
Manny
I bought my 92 Heritage z28, with every option,350, leather, 45k miles, etc,, etc, for $8k may 2001.
I sold it 9 months later with 50k miles, new tires, new compressor for $10k in the same area!!
This 3rd gens will appreciate in about 5 years but like everybody said, if you can get one now, grab it!!!
Look at the 2nd gen camaros. 5 years ago you can get just about any 78-81 z28 for under $1500 and a clean one for about $3k-$5k. I have tracked alot of 78-81's sold and they are appreciating now. The 77-81 trans ams are also appreciating. I even saw an 80 z28 with 23 miles go for $20k I believe and a clean 4k mile trans am go for I beleive $16k.
I have decided to enter the 3rd gen market again so I am on the lookout for a 87-90 IROC or 92 z28!!
Manny
Manny
#20
Moderator
That 80 Z28 with 23 miles did not sell and had a reserve for $30k. The highest bid on Ebay got to $20k, but reserve was never met. I met the owner and saw the car. The guy was a jerk. He said he bought the car because he could. He put it on blocks for 22 years because he could. If someone doesn't pay him the $30k he wants for it, then he doesn't have to sell it. What a jerk. The car did look very nice though.
#21
Junior Member
Join Date: Mar 2001
Location: NW Houston, Tx 77086
Posts: 59
Likes: 0
Received 0 Likes
on
0 Posts
Engine: TPI
Transmission: Auto
Hi,
I bought my 1989 IROC convertible in Sept. 2000. 22 options, white with gray custom cloth, TPI, and so on. Original lady owner with work receipts validating the 77,350 miles on the odometer at the time of purchase. Unhit bone stone stock garaged car.
She wanted $7,500.00. I was actually looking for a 350 coupe IROC at the time. Only went to look at it because her ad said she was the original owner. Still didn't really want it bad so I low balled her at $5,000.00 just so I could walk away. Of course, she said no. She called me back about 10 days later and asked if I still was interested in the car. Lots of B.S. on the phone and lookers but nobody ponying up some cash. I took it at $5,000.00 even.
It was worth the $7,500.00 she was asking because it was unmolested. I don't know what someone would pay for it now. I can say I get lets of attention/B.S. offers every month. I daily drive the car.
I bought my 1989 IROC convertible in Sept. 2000. 22 options, white with gray custom cloth, TPI, and so on. Original lady owner with work receipts validating the 77,350 miles on the odometer at the time of purchase. Unhit bone stone stock garaged car.
She wanted $7,500.00. I was actually looking for a 350 coupe IROC at the time. Only went to look at it because her ad said she was the original owner. Still didn't really want it bad so I low balled her at $5,000.00 just so I could walk away. Of course, she said no. She called me back about 10 days later and asked if I still was interested in the car. Lots of B.S. on the phone and lookers but nobody ponying up some cash. I took it at $5,000.00 even.
It was worth the $7,500.00 she was asking because it was unmolested. I don't know what someone would pay for it now. I can say I get lets of attention/B.S. offers every month. I daily drive the car.
#22
I just traded a 1992 hyundia and $700 for my 87 L98 IROC with T-Tops. The nice thing about it all is I only had $200 invested in the hyundia. Add it up I am only out 900 bones
Rich
Rich
Thread
Thread Starter
Forum
Replies
Last Post
Denricci22
Transmissions and Drivetrain
5
09-18-2015 09:02 AM