Will my IROC go up in value?

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casey0272

1,473 posts · Joined 2005

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#2 · Aug 9, 2010

I think these 3rd gen Camaros are going to go up in price, especially convertibles. I'm looking for one that is 1LE, and they're rare. I also want it in a convertible. If I found one that had low miles (5,000-30,000), I'm sure I'll have to dip way down in the pockets. However, I've got too many cars and am working on a project right now. I think the member to ask would be "Hylton." If I'm not mistaken, he has 2 or 3 of these 3rd gens; he told me they were cheap right now and no doubt go up in value. Look him up--send him a private message with your questions and I'm sure he'll answer. He's really grouchy, but he knows a lot about Camaros

 

sleepsinshed

2,443 posts · Joined 2004

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#3 · Aug 9, 2010

I think they'll go up in value for two reasons, because they're dirt cheap right now, and because they're getting parted out at an astonishing rate. My son and I have bought three so far and have spent less than $2000 for the lot.

 

HwyStarJoe

15,378 posts · Joined 2001

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#4 · Aug 9, 2010

I don't know about in 5 years. Maybe more?
If the popularity of the 5th Gen stays the way it is and the hobby doesn't take any kind of hit from anything stupid happening, the value certainly won't decrease. If and when GM manufactures a 5th Gen vert, the 3rd\4th Gen's will definitely be in higher demand because of their values right now.

 

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78MBA

828 posts · Joined 2007

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#5 · Aug 9, 2010 (Edited)

Collectability is based on nostalgia. If there are enough people that buy these cars either for nostalgia or investment demand will increase, supply will decrease and price will go up. If you are waiting for what happened in 2001-2007 with first gens you will be waiting a long time! You have seen the top of the car market hit an all time record and short of the extreme and ultra rare models i.e. Shelby Daytona Coupe, 68 Z vert, etc. American Muscle has topped outand is in the process of deflation. Future generations do not have the affinity for these cars that baby boomers and proceeding generations up to Gen X have for these cars. Supply has increased 5X what it was a year ago on high end cars. Granted prices are still high but not what they were in 2007 and as supply increases and demand decreases prices fall. Everyone is scared that they have seen the top and are selling before they see bottom. Baby booms are loosing money right and left and unless they are just independently wealthy they cannot afford to hold on. To purchase a collector vehicle you must have liquid capital because there are very few finance options and banks have become extremely stringent. The #1 preffered way to finance a car was home equity and those prices have declined so dramatically very few have the equity needed and some banks have even gone as far as putting limits on what it can be used to purchase. Jay Leno and Colin Comer only need so many 67-69 Camaro's in their collections before it's just redundancy and they are not buying if it's not extremely rare. I would argue that what has happened to the 60's cars will have a dramatic effect on collectability of later model cars. Forget Europe they are headed into a worse financial disaster than the U.S. Point being at one point even financial advisors were telling clients that cars were a safe bet for investment and now they are saying sell, sell, sell! Unless you have a love or passion do not buy cars for investment purposes!!!!!!!!!!!!!!!!!!!!!!!!! Anyone that really knows cars will tell you do not buy for the investment buy for the passion because in the end you will always have more money invested than what they are really worth.

 

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elcamino72

428 posts · Joined 1998

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#6 · Aug 9, 2010

Good clean, honest cars are always worth $$$, 3rd gens are no different.

 

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camaroman7d

10,475 posts · Joined 2001

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#7 · Aug 9, 2010

Anything with a V8 and convertible top will increase in value. There aren't that many Irocs running around let alone verts. I bet it is worth more today than it was 2 years ago.

 

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Calpantera

3,190 posts · Joined 2005

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#8 · Aug 10, 2010

It will go up in Jersey thats for sure

 

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joe clance

991 posts · Joined 2001

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#9 · Aug 10, 2010

i know of no-one who aspires to own a 4gen camaro. They are either acquiring first gens or 2010's, and are quite torn between the two.

 

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z28doug

1,657 posts · Joined 2001

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#10 · Aug 10, 2010

Depends on how long the "great recession" lasts. This economy is still in deep trouble, at least in my neck of the woods........

 

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zuma Discussion starter

5,329 posts · Joined 2002

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#12 · Aug 11, 2010

Thanks guys...it really is a fun, nice handling car...like I said lot a bang for the buck... Still turns a lot of heads too, not many of these still on the road...I am not a big fan of the coupes (sorry guys) but I always liked the verts... They didn't make too many of these (1294 factory authorized units for 1990, last year of the IROCZ)...I believe any camaro V8 vert will increase in valve over a period of time. If it doesn't, I don't mind, I didn't buy it as an investment, I bought it to drive it and have fun...

 

DjD

27,011 posts · Joined 1999

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#13 · Aug 11, 2010

Mike, for a while your IROC will stay the same, there are still too many $1000 3rd gens (dads nightmare) out there. The 4th gen is on it's way to taking it's place as the least expensive Camaro a kid can find and drive. Once the market shifts then more guys will start restorations of 3rd gens and instead of them being cheap cool transportation they will become more popular driving the prices up on nice ones.

It's the same pattern that each generation has followed basically...

 

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camaroman7d

10,475 posts · Joined 2001

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#14 · Aug 11, 2010

The difference is there were no convertible 2nd gens. Maybe it's just my area, but you don't see many 3rd gens around anymore. I can't remember the last time a I saw a clean one or a vert. Do I think they will be $50K cars? No not at all, but they were very cheap for a while. The question was will it go up in value compared to today. I still think it will.

 

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dreamweaver

9,504 posts · Joined 2006

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#15 · Aug 11, 2010

No they will not. Therefore you would be better off selling it to me for $3852.96... I have cash in hand

 

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68RS-SS

1,349 posts · Joined 2007

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#17 · Aug 12, 2010

I would expect value to go down a little more in next couple years and hopefully in 3-yrs. time economy starts to stabilize on a subtle upward trend and values in general will perk up. If I owned it, suppose wouldn't even be concerned about the value and just appreciate it for bein a cool car in great condition (and a worthy comrade for your 1st gen). I've always liked the Irocs and the design is standing the test of time pretty well in my opinion/observation.

 

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Gary L

10,101 posts · Joined 2002

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#18 · Aug 13, 2010

Who cares.......it's a very cool ride in a cool color with no top. It doesn't matter.....you will get $50K worth of enjoyment from it.:yes:

 

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BPOS

10,513 posts · Joined 2002

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#19 · Aug 13, 2010

I used to have an '89 NOROC, 305 w/ 5speed. It was a good car and i kinda miss it. As I recall, the convert part was aftermarket. Pretty cool car. Gutless. See them occaisionally, and still like them. Doubt they'll ever be ultra desirable. The way the top hides under the solid panel is very cool.

 

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Chris396

725 posts · Joined 1999

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#20 · Aug 13, 2010

I hardly ever see IROC's anymore. I graduated high school in '91 and they were everywhere back then. There's not much to pick from in the 80's. The IROC's, Trans Am's, 5.0 Mustangs were about all we had so I definitely see them going up. How far up is to be seen. They were also used and abused which is usually a good thing when it comes to collectibility.