Then vs. Now: Two Black 12k Mile ZR-1s

Posted On January 2, 2022

What a difference a year and a half makes in the price of cars. In the case of collectible cars, it’s sometimes difficult to determine whether the asking/selling prices result from the general over-heated market or from a genuine upward trend in the perceived value of a particular model. This is a story about two essentially identical black C4 ZR-1 Corvettes with the same odometer readings.

Let’s first take a look at a 1993 that sold a year and a half ago. 448 ZR-1 Corvettes were manufactured in that model year, and this example, with a black exterior and a tan leather interior, displayed about 12,000 miles on the odometer. A clean Carfax report and a clean Arizona title were included in the sale.

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The tires had been replaced with Sumitomo HTRs, probably due to age more than wear. There was some pretty meaty rubber at the corners: 275/40 Sumitomo HTR ZIII tires in front and 315/35 Sumitomo HTR Z35 tires at the rear.

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I’m not a big fan of black cars in general, but I really like the contrasting Light Beige leather sport seats with this exterior color. As you would expect with this 12,000 mile C4, the interior was immaculate and the six-way power seats showed no noticeable wear. 

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Powered by the Lotus / Mercury Marine 5.7-liter DOHC engine, the big news was a power bump to 405 HP from the previous year’s 375 hp. When the bidding was finished on June 23rd, 2020, this ZR-1 sold for $28,500.

The link to this auction result is at: https://bringatrailer.com/listing/1993-chevrolet-corvette-zr-1-5/

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Let’s now look at a black 1990 (first year) ZR-1 with about 12,000 miles that sold almost exactly a year and a half later.

 

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The standard 17″ aluminum wheels on this ZR-1 were fitted with an older set of Goodyear tires measuring 275/40 up front and 315/35 out back. All ZR-1 models were equipped with the FX3 Selective Ride suspension package which featured electronically adjustable Bilstein shock absorbers.

 

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One of the few differences is the wheels. This 1990 has the older style C4 wheels as opposed to the “sawblade” wheels on the ’93.

 

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The power-adjustable sport seats on this 1990 are upholstered in black leather and accompanied by matching carpets and door panels. I think the beige interior on the ’93 provides a nicer contrast with the black exterior.

 

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Although the engine appears to be identical to the ’93, the first few years of the ZR-1 produced 375 HP compared to the 405 HP of the last three years.

 

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So here is the surprising result of this auction that ended on Feb. 2nd, 2022: this 1990 ZR-1 sold for $38,250 compared to $28,500 in the middle of 2020! (The link to this auction result is at:  https://bringatrailer.com/listing/1990-chevrolet-corvette-zr-1-53/.) So how do you reconcile the almost $10.000.00 increase for a three year older ZR-1 with 30 less horsepower in such a short time? Yes, maybe the supply/demand equation is changing for this desirable Corvette. Or maybe the insanely overpriced used-car market accounts for this result. Most likely, it’s a combination of both factors, but we won’t know until the auto market stabilizes and normalizes. Only then will we see where the C4 ZR-1 market truly is.

Photos credit: BringaTrailer.com