Tuesday, January 27, 2009

$100K for a 1992 ZR-1 is too high at Barret-Jackson

I've been impressed with SpeedTV's coverage of the recent Barrett Jackson Auction held in Scottsdale, AZ. If your primary interest is muscle cars of the past, the knowledge shared during the commentary has been excellent.

It seems more "watchable" than last year, although a DVR is a requirement to fast-forward through the commercials during 20+ hours of coverage. If not more.

I'll have more to say soon, but a write-up in AutoWeek, 1/26 issue caught my eye regarding the first 1992 ZR-1 Corvette fetching over $100k. I'll have to see it myself as I continue to look at the coverage.

Was it really worth it? Granted buying a car stored by the factory, and essentially sold from the factory has merit. But what is the significance?

The model run ended with 1993 models. The 405hp engines were stored after the 1991 model year for future installation. What is the big deal? The first 2006 Corvette Z-06 also fetched over $100,000 but at least that has some significance as a first year model. And its a far superior car from every standpoint.

If you're going to spend $100,000 on a fairly modern Corvette, the new ZR1 would be the obvious choice. From a collector standpoint, my guess is this 1992 model has little merit, and will only depreciate. First year or last year would have hope, but not 1992.

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