If you’d like to buy a new 2006 Corvette Z06 in 2021, this example in Iowa is currently being offered on Bring a Trailer might be the closest thing you’ll find some 15 years later.
This Corvette has been driven just 100 miles, including 90 since the current owner bought it last year in Illinois, where it was sold new by Mills Chevrolet of Moline.
The listing doesn’t offer any details that explain the super-low mileage, but it’s safe to assume the original owner thought it would be a good investment since it was the first year for the sixth-generation Z.
That remains to be seen as the bidding has reached $40,000 with six days left, well below the original sticker price.
Coated with Victory Red paint over an Ebony leather interior, the virtually unused car not surprisingly remains in immaculate condition.
Of course, it has the standard Z06 engine, a 7.0-liter V8 that cranks out 505 horsepower and 470 lb-ft of torque, and six-speed manual transmission, though neither is likely ever to get very much exercise as adding miles to such a museum piece would obviously decrease the value. That’s a shame, but this fun-loving car is likely destined to be an expensive paperweight for the rest of its life.
Other features include the 2LZ Preferred Equipment Group, a dry-sump oil system, a limited-slip differential, a dual-mode exhaust system, xenon headlights, power-adjustable and heated seats, dual-zone automatic climate control, a power tilting and telescoping steering column, cruise control, replacement 18″ and 19″ GM Speedline Spyder wheels inside 285/35 and 345/30 Michelin Pilot Super Sport tires that were mounted in July 2020, a head-up display, Bose audio, and navigation.
Carbotech brake pads and replacement tire pressure sensors were also added and the brake fluid flushed when the new tires and wheels were installed.
A coolant flush and an oil change were also carried out in July 2020 by Knoepfler Chevrolet of Sioux City, Iowa.
The original factory tires and wheels are also included with the sale, as are a window sticker, two sets of keys, manufacturer’s literature, initial production and purchase documents, service records, period publications, a clean Carfax report, and a clean Iowa title in the seller’s name.
Would you want this little-used car? Or would you prefer to have a nice Z06 with a few more miles that you could actually drive?
Source:
bringatrailer.com
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I am fascinated by people who buy brand new Corvettes and squirrel them away in the hope that they will go up in value. With very few exceptions (including the new C8s with their current production constraints, and even that is likely only temporary), new Corvettes drop in value quite quickly and it can take decades before they begin to go back up in value. Meanwhile there are ongoing costs associated with storing them, maintaining them, insuring them, etc. If you are going to try to make money buying and selling Corvettes, wouldn’t it make more sense to look for desirable used examples that have already suffered significant depreciation and that are poised to begin going back up in value? Or better yet, buy a Corvette to drive and enjoy and put the rest of your money in a diversified and balanced investment portfolio!
I’m guessing that an individual with the money to play in this market (buy a limited model(s), put on a shelf for several years, then sell to another wealthy person to recoup the original investment plus earnings) may have a facility where he/she can enjoy looking, touching, smelling their investment when they want. Sure would be more satisfying than looking at a digital display of the up and down value of a portfolio containing stocks, bonds, REITs, or some other form of investment assets.
Some people buy and then hold for sentimental reasons, or because the original purchaser suddenly passed away. For others, it is pocket change and they don’t care about or purchased it for the resale value. At the end of the day, it doesn’t matter. Likewise, stocks, bonds, mutuals, etc lose and gain value until sold. In the meantime, they don’t make the sound, smell, or sight of a Z06. So, to Billy’s point, if you are not the owner or “in the driver’s seat” (so to speak) don’t worry about it.
I think it’s ridiculous that people buy Corvettes and don’t drive them. Corvettes are meant to be driven, not kept as a museum piece. I could never just watch my two Corvettes waste away and not drive them.
It even comes with the ugly Cobalt steering wheel.
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