The miles can really affect value
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TECH Junkie
Joined: Aug 2006
Posts: 3,917
Likes: 676
From: Western North Carolina
The miles can really affect value I know 50,000 miles isn't much for a 20 year old car but it sure affects desirability and collector value.
Today at the Reno Barrett-Jackson auction a really nice looking 25th anniversary 1994 Trans Am went through the block. I personally thought it was very appealing and desirable, even as a 'driver' if the new owner wanted to do that. It sold for $11,000 plus the 10% BP. That's a heck of a sweet used car for decent money. I could see many happy years behind the wheel of that somewhat rare car without worrying about future value down the road. Put another 50k miles on it over 5 or 6 years, keep it decent and you would probably still get $4,000- $5,000 for it. Depreciation would be a little over $1,000 per year. Can't say that about too many cars. Interesting to think about.
Today at the Reno Barrett-Jackson auction a really nice looking 25th anniversary 1994 Trans Am went through the block. I personally thought it was very appealing and desirable, even as a 'driver' if the new owner wanted to do that. It sold for $11,000 plus the 10% BP. That's a heck of a sweet used car for decent money. I could see many happy years behind the wheel of that somewhat rare car without worrying about future value down the road. Put another 50k miles on it over 5 or 6 years, keep it decent and you would probably still get $4,000- $5,000 for it. Depreciation would be a little over $1,000 per year. Can't say that about too many cars. Interesting to think about.
TECH Enthusiast
Joined: Nov 2011
Posts: 587
Likes: 12
From: Connecticut SE shore
If that was just a coupe $12,100 sounds like plenty of money for a 1994 LT1 with 50K miles. While I loved the look of the 1994 anniv model back in the day (I had a black '93 six speed TA then) I just don't see them as all that special today. For $12K you can buy any number of nice 1998 to 2002 LS-1 cars with 50K miles - or possibly less. For my full sized daily drivers I've almost always bought them slightly used with 20K to 50K miles. And typically I figure 1 yr - 10,000 miles - $1,000 in depreciation. Interesting that the same thumb rule works decently well with many of the F bodies.
For a white anniversary car the 1999 WS6 has it hands down over the 1994. And those cars are so in demand that you have to pay a ton for anything under 50K miles. Even the higher mile cars aren't cheap. Not easy to find one of these <$15K regardless of miles. But if that 1994 anniv car was in front of me at a fair price, I might take a run at it for a daily driver. Like most of the anniversary cars, the owners tend to over-value them.
For a white anniversary car the 1999 WS6 has it hands down over the 1994. And those cars are so in demand that you have to pay a ton for anything under 50K miles. Even the higher mile cars aren't cheap. Not easy to find one of these <$15K regardless of miles. But if that 1994 anniv car was in front of me at a fair price, I might take a run at it for a daily driver. Like most of the anniversary cars, the owners tend to over-value them.
Thread Starter
TECH Junkie
Joined: Aug 2006
Posts: 3,917
Likes: 676
From: Western North Carolina
I'll agree with you when comparing to other F-bodies 'price-wise' but I'm just looking at it from a different viewpoint this time. What a cool opportunity to own something different to drive and enjoy that isn't your typical T/A or Camaro. It's a very good price in my book. Even Mike Joy (the B-J and Nascar voice) put it on his 'well bought' list of the day. I'm not alone in my thinking. It isn't all about price with no other considerations. This was an opportunity to get a nice one (probably a #2 condition car) for a real good 'used car' price.
TECH Enthusiast
Joined: Nov 2011
Posts: 587
Likes: 12
From: Connecticut SE shore
Some photos of the car. Didn't realize it was a 6 speed. That makes it more exciting. Just assumed it was an automatic. There were 3 other Firebirds in that auction...all of them heavily modified/customized. After more thought, it was well bought. I doubt if my local dealer had one I doubt it could be bought for $12K.
http://www.barrett-jackson.com/Event...R-COUPE-174603
http://www.barrett-jackson.com/Event...R-COUPE-174603
Last edited by Firebrian; Aug 2, 2014 at 05:24 PM.
Thread Starter
TECH Junkie
Joined: Aug 2006
Posts: 3,917
Likes: 676
From: Western North Carolina
Some photos of the car. Didn't realize it was a 6 speed. That makes it more exciting. Just assumed it was an automatic. There were 3 other Firebirds in that auction...all of them heavily modified/customized. After more thought, it was well bought. I doubt if my local dealer had one I doubt it could be bought for $12K.
http://www.barrett-jackson.com/Event...R-COUPE-174603
http://www.barrett-jackson.com/Event...R-COUPE-174603
Thanks for posting up the link. I was too tired when I posted this initially at 11:00 PM.
TECH Apprentice
Joined: Mar 2004
Posts: 317
Likes: 18
Kansas City Craigslist Not mine and has been for sale quite some time.
http://kansascity.craigslist.org/ctd/4895324008.html
http://kansascity.craigslist.org/ctd/4895324008.html
TECH Enthusiast
Joined: Nov 2011
Posts: 587
Likes: 12
From: Connecticut SE shore
Not mine and has been for sale quite some time.
http://kansascity.craigslist.org/ctd/4895324008.html
http://kansascity.craigslist.org/ctd/4895324008.html
At that price, I can see why. You could buy a 2002 WS6 automatic with those same miles for less than their asking price on the 1994. A 2002 WS6 CETA is not far from that same price.
