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2002 Z28 Indy 500 Festival Car - Worth?

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Old 09-18-2013, 05:28 PM
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Default 2002 Z28 Indy 500 Festival Car - Worth?

Greetings! I MAY be considering selling my baby, but don't want to do the CarMax thing. She is a 2 owner BONE STOCK 2002 Z28 Convertible Indy 500 Festival Car #54! NO MODS! IMMACULATE...and I mean...IMMACULATE! Only 55K on it. The ONLY thing I changed was put new square exhaust tips on it (looks like the OEM as the OEM's were dull and a bit rusty) and changed the factory head unit for a digital media player and Bluetooth...kept the factory monsoon. I also put a custom HUMOUNT bezel that lights up (I still have the factory radio). THAT IS IT! I recently replaced the graphics with the certified original ones from the Graphics place in Farmington Hills that printed and put them on at the Indy track. I have the letter of certification stating that these are the certified decals. This was ONLY used at the Indy track for the 500 and NOT for the Brickyard race too. It is a certified festival car. I have ALL the documentation showing the #54 on the windshield and back of the license plate. I have the build sheet, window sticker, pics of the car at the Indy track at the time of the race along the other 65 ones pulled from the factory to use for the track. The car was RELIGIOUSLY maintained at the Chevy dealer...every 3k oil changes, 30K tranny, differential, ps, pb fluid flushes injection cleaning. Flushed the radiator too. New Bridgestone tires on it. ALAYWS covered AND garaged. No kid ever owned or drove this car. No wear on the seats. New OEM mats too. Whew! Look at my garage for more pics of the car. Whatta ya think?

Thanks!

Dave
Attached Thumbnails 2002 Z28 Indy 500 Festival Car - Worth?-justwaxed.jpg   2002 Z28 Indy 500 Festival Car - Worth?-tonneau.jpg  
Old 09-18-2013, 07:38 PM
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Love the photos! Thanks for posting them.
You ready for the unfortunate news? I'm sure you are aware of it already, but if not, those 55,000 miles are going to really hurt the value. I also believe there were just 62 cars, not 65, even though that makes no difference, just information for selling purposes. There is absolutely no doubt that your car is very collectible. There are many collectors that collect just Indy related cars. However, as with every collector car, mileage is key, especially on more modern cars. We aren't talking about the '69 pace car but a recent 2002 model and many collectors want less than 10,000 miles on them. Even that is a lot! With such a unique car you will have many thoughts about pricing. With very low mileage 2002 anniversary cars being in the $30,000 neighborhood I certainly can see a sub 10,000 miles Indy car going for prices right up to $40,000. With yours having 55,000 miles and perhaps the highest mileage car out there, I would think that $20,000 would be top $$$. Even that may be too high and the only way to find out is to test the waters. Ask higher than that and see if you get bites at around $25,000 or whatever you feel comfortable with. If no activity after several weeks then lower the price accordingly. Certainly start on the high side because you don't want to short change yourself. You have to ask yourself how much extra someone would pay for a car with 55,000 miles on it. An anniversary car would be in the high teens ($15,000 - $18,000) if in excellent condition with those miles. How much more could you fetch? Do as much research as you can, especially if you can contact other owners of these cars. I'm glad you kept all the original parts. Mods kill prices!! I wish you the best!!
Old 09-18-2013, 08:24 PM
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Yeah, I figured as much. An 11 year old car with 55k is not a lot of miles. For a collector car it it. I would take $16k if someone offered it. I may test the waters and see what I get. I need something more practical.... Not not desperate to sell. I have about 6 coats of Zaino on her and shines like new. I love the car and it as smooth as glass. I have seen one more with higher mileage (62k) on it and someone removed half the decals! Crazy. Anyways.... Thank you for the info....now here to list it. I WILL NO DO CRAIGSLIST
Old 09-18-2013, 08:46 PM
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Let's try this again. Typing on my ipad is a bad choice. What I was trying to say was I figured as much. An 11 year old car with 55k is not a lot of miles for a daily driver. For a collector car it is a little high. I would take $15-16K if someone offered it. I may test the waters and see what I get. I need something more practical.... though not desperate to sell. I have about 6 coats of Zaino on her and shines like new. I love the car and it as smooth as glass. I have seen one more with higher mileage (62k) on it and someone removed half the decals! Crazy. Anyways.... Thank you for the info....now here to list it. I WILL NO DO CRAIGSLIST!
Old 09-19-2013, 05:08 AM
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I think $16,000 is very realistic and reasonable for such an unusual and documented car of this type. I'll be surprised if you don't get it from the way you describe the car's condition and maintenance. It still may take awhile as this car doesn't appeal to everyone but at $16,000 you have it priced like an '02 anniversary car. For those that do like special cars, yours will stand out. Again, GLWS!!
Ref listing on CL, smart!!! You won't get
Old 09-19-2013, 06:41 AM
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Thank you for your honest advice. I am fortunate enough that I just drive her once a week for a few miles to keep things fresh. Other than that, sits and enjoys a nice home in my garage :-) I will test the waters. Do you recommend any sites? I am leery about Ebay as well. Probably not as bad as Craigslist. I wish a Chevy dealer would like this sitting in their lot...but doubt it, unless they want to try to rip me off! lol. Anyways, thanks again for the assistance. Love this site!
Old 09-19-2013, 02:55 PM
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I'm not an ebay fan either. Of course they are much better than CL but they charge you high fees if the car sells. It's been 2 years since I quit using them but the charge was $125 back then. If the deal didn't go through they made you jump through hoops to get your fees back. No thanks! Their customer service is abysmal.
I've had good luck selling both my own cars and my elderly car collector friends' cars on Autotrader. About $40 and that's it. No other fees. They have other options like 'list until the car sells'. I've done fine with the $40 ad. Hemmings is a wonderful venue as well for serious car people and your Camaro would be a perfect fit. The only negative is that your Camaro would not get wide attention. Ebay and Autotrader reaches millions of 'lookers' and buyers whereas Hemmings audience is much smaller but reaches the buyers that have the $$$. You will get tire kickers and lowballers no matter where you list the car but it decreases with those two sites I prefer. Hemmings is about $40 -$50 with no other fees. They also have other options.
Patience will be the key for you as we get close to the holiday season. You might squeeze in a sale within the next month if fortunate but once late October rolls around it will be slow going right through New Year's and possibly until the Spring. It doesn't mean a sale won't happen but it does get slower. I tend to buy my cars around the holidays just for that reason. Better deals



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