abcx09t

There is a 1987 IROC on ebay for $22,500 with only 2760 miles.

The car is perfect inside and out, as you would expect...T-tops and 5 speed.

What do you think?

Is it worth the price?

Scott

MdFormula350

Not to me.

IROCZTWENTYGR8

iTrader: (1)

Why should you care, you got 1 already?? And it's basically the car I'm looking for.



That price is too high BTW. Years from now it will be worth alot more though so who knows?!

Willie

iTrader: (1)

It's not worth it. Our cars are not at the point where they are worth more than when they were new, regardless of mileage. This car cost about $18,000 new. I wouldn't pay more than $16,000 for this car.

Jason E

I know a guy locally who has had for a long time (and is still trying to sell), for $17,000 each, these '90 beauties...

IROC 350
-Medium blue with silver stripes, black custom cloth, every option including power seat, dealer logo still on the bumper, 300 miles!!

IROC Convertible
-White with red stripes, red custom cloth, again, every option...305 TPI 5 speed, 2,700 miles...

Those cars are close to what they are worth, which makes $22,500 for an '87 out of the question...

Codename 47

iTrader: (4)

Way to high. I could see if the car had like 5 miles on it. But face it. Its only "too high" for someone who doesnt want to pay it. The price isen't to high if someone is gonna drop that much for the car.

scottmoyer

The early 3rd gens are starting to be worth their original sticker if the car is mint and low mileaged. Nobody bid on the white 84 Z28 that was on ebay last week with 3900 miles. It had the buy it now at $15k. It's a nice car and I would love to own it, but not for $15k. The Pace Cars are just getting their worth at around $12k in mint condition. The IROC-Zs are worth the money because of their performance ability, but again, $22k-$25k is ridiculous for these cars. My car cost $21k new and it has every possible option. It's low mileage, but not worth anything close to $20k.

Unless someones willing to pay me that much!!!

Jason E

Wait 3 years, and I'll be more than happy to make you an offer, Scott

I won't give you $22,500, but enough for a nice little profit Yes, I remember how much you paid for it, no I have never been able to believe it, and every time I have seen one for sale locally I think about what a damn good deal your car was.

Please sell it? Please? Just gimme 3 years!

scottmoyer

The way things are going with my work (unemployed for 2 years), I might have to sell it. I'll sell everything else first!!

Did I ever say what I paid for the car? I don't remember doing anything that crazy.

Jason E

I can PM the price to you and see how accurate I am, but I remember what it was, and I am still in shock. To me, your car was a $11-12k car, what with the leather, t-tops, 350 and all.

I promise to keep it our little secret Sorry to hear about your job (I do remember you being unemployed...thought the '93 was being sold???)...hope you don't have to sell such a gorgeous car just to make ends meet Good luck to you...

abcx09t

There is a guy in Tenessee selling one red 1987 IROC 350 for $15,900 and it has 1056 miles.

The only drawback if you want to call it that is it was a Van Nays car. Norwood had the better paint.

Scott

onebluemcm

And who wants to drop that kind of green for something like an IROC just to look at it?

It's a catch 22 right now with these cars, regarding how old they are. If somebody buys the 22K Camaro and drives it even just 1000miles/year - which is nothing!, it'll quickly be worth much less. And these cars were meant to be driven, not just looked at and drooled over.

But as Codename 47 said, if the seller is in no hurry, he might just get what he's asking for it. And for some people, money is not an issue. I dream of being that way. Every day I am amazed what people are willing to spend for/on their pets and sometimes I realize they are doing more for their pets than I would even be able to afford for my own (I'm a Veterinarian....FYI). So, it just depends on what someone defines at their "pet" - for some it's a four-legged critter, for others it's a four-wheeled fire breathing Chevrolet animal. ;-)

If having a collectable is the goal, I think big money is better spent on a project car at this point in time. The funds might end up equaling the initial cost of buying a low-mileage 3rd gen right now, but it would be spread out over years and when the project car is done, if it's a full restore, when these cars really become rare it'll be worth just as much - value is all about demand and how rare something is. Right now 3rd gens are pretty easy to find and there isn't a ton of demand. Don't get me wrong, the first 3rd gens to start having some demand will no doubt be the IROCS simply because they were only built for what, 5 years? And they are kind of a late-80's Icon of sorts. But we're not to that point yet.

Good discussion,
K

okfoz

I know this has come up lots of times in the past, but when you consider you can get a TTA or a Firehawk for about that price, then for an IROC it is too much money. Considering there are so many.

The problem with low miles cars is the seals in the engine and transmission dry out, so a rebuild would be in order in some short time. I guess the up side is they do not have the grime and dirt to deal with, and theroretically it should come apart pretty easy, but you always risk denting or scratching or breaking something when you take it all apart .

When I first re-did my Formula, it cost me about $8,000 to do the paint, engine, and interior. many thousands of dollars later now with 12" baer brakes, Custom leather interior, conversion to TPI, the car might not be worth anything to anyone else, but I enjoy my car, and I think thats what its all about for me. If you want a car for a model, then get a low miles car, if you want it for driving, get something with some miles say 50 - 100K miles, if you want a rebuilder, and a car to play with then 100K + is for you...

I am considering taking my second formula and making it as perfect & original as I can, unfortunately it has 150,000 miles... So the value would not be that great in the end... BUT if I enjoy doing it then there is no harm in that.

John

91Zman

1989 IROC-Z 1LEhttp://www.hemmings.com/index.cfm/fu...hicle_id/12795

TTA 1387

You don't have to rebuild just because it doesn't have any miles. I had to replace the rear main seal when I got mine. Just like a small block chevy, they all leak. Changed it and it hasn't leaked since.

I buy a car for me. I wanted a low mileage car and found one. I've doubled the mileage in 3 years. Driven to Memphis from Maryland, twice. Race it when I get a chance and just enjoy it.

They might be expensive initially compared to similar cars of the era. So what, you're getting a "new" car. And if you drive it, who cares? Are you saving it for the next owner? Enjoy it, its a car!

86 sports coupe

But i would fix up and spend the money on any 3rd gen f body.I love the looks and enjoy driving mine every day.It says alot when you drv a $900.00 car and enjoy driving it, i mean it is literaly a thrill for me.I paid $900.00 have invested about $1600-$1800 in the car and with every repair i have the satisfaction knowing my car is getting better, its like wine for gods sake. My car is nothing as nice as many of the rides on this site, but i truly love my cars and drv them any chance i get!:lala:

okfoz

A 4th gen will continue to depreciate, BUT a 3rd Gen is at the bottom, it can only get more valuable... think about it, the average car takes 7-10 years before it is at the minimum value, and at 14-20 years is when they will start to apprecaite again. THAT is why kbb.com and nada.com, and many other on-line value guides stop at 20 years, because the value has started to rise, its alot harder to figure appreciation than depreciation.

With that said, When I bought my 67 Riv in 1988 the value was at the bottom, now 13 years later its worth about 4-5000 more... Not woth the inflation, but if it gets more publicity, like the fact that the 95-99 Riv was based off of the design, and the fact that within the past 3 or so years there has been about 6-10 new model kits, it will gain in populatiry...

The Thirdgen is worthless to alot of people today, just like the 2nd gens were worthless 10 years ago, all things will come around, and we will not be sorry...

Besides, I love my formula, because its mine, and I like the car, not because it will be worth something some day, its not an investment to me, its a hobby, the idea that it might actually have value is a bonus ...

John

1987 GN

I am from Massachusetts and have a friend who would be interested in one of these cars. Could you give me some contact information?

85IrocNOH

what would $18,000 dollars adjusted for inflation be?

abcx09t

The equivalent dollar amount in 2003 for $18,000 in 1987 would be about $38,000. I think this is for about 4% interest or cost of living increase.
Camaro's in 1987 were a very high end sport car rivaling the Corvette.

scottmoyer

I disagree with the above numbers. Using simple math and the average price of cars over the years, an $18k car in 87 would equate to about $29k today.

My calculation:
1987 new car average (domestic) - $12922
2001 new car average (domestic) - $19654

18000/12922 = 1.392973223959
1.392973223959 x 19654 = $27,377.50

that's in 2001 prices. for 2003:
add ~ $750 a year for increase to get $28,800. That sounds a little more accurate.

Using your 4% annual increase, that puts an $18k car in 87 to be at $34k in '03. That would also put my $21k '87 IROC-Z at $40k in '03.

Under my average car price calculation, my car would sell for $33,500 in '03. That sounds more realistic to me than $40k.

Jason E

Hi,

I believe I spoke with you and your friend on the phone last week? I lost his phone number, and I feel REALLY bad about not being able to return the call...I hope you guys see this...

The guys first name is Fran, as I said, and his shop in Northampton closed about a year ago, as I said. My friend doesn't remember his last name, but if you guys do a search for Frans Auto Sales in Northampton, something will turn up. Thats the best I can do...I have no # for him, and neither does anyone else apparently...

Sorry...

1987 GN

My friend tracked down the owner and we went to see the cars the next day. He has 2 ultra-low mileage Irocs but neither has been stored properly. It will take some $$ and a lot of time to bring them back. Thanks for your help though it was certainly appreciated.