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-   -   Will the 2001 Z06 become a classic/collector? (https://www.z06vette.com/forums/f4/will-2001-z06-become-classic-collector-120124/)

remington416 07-12-2010 12:49 AM

Will the 2001 Z06 become a classic/collector?
 
I have a 01 Z06 and may sell it soon (going overseas), but I have this little voice telling me to hang onto it.

Will the 2001 Z06 become a classic/collector? 10 years? 20 years? 30?

It was the first year of the "new more powerful model" of an American classic with a rabid fanbase... will that be enough to make it desirable in years to come?

I'm the 2nd owner, 42,000 miles, no problems/marks/scratches. I owe on it still, but I'm not hurting for money and it wouldn't really stretch my wallet to keep it. I just hate throwing a few hundred bucks each month toward it while I'm overseas not enjoying it (although I could pay it off in 2-3 months once over there). Also, does anyone know how many 2001 Z06's were made?

Does anyone have an opinion/thought on it?? I'm only 24, so I could potentially hold onto this car for decades to come.

On a side note, my dad had a beautiful 1964 Vette that only had 21,000 miles on it that he let go after he got out of the service in like 1969-1970ish, and he always cries about being so dumb letting it go... I DONT WANT TO END UP LIKE HIM!! hahaha

Z06phile 07-12-2010 06:11 AM

Re: Will the 2001 Z06 become a classic/collector?
 
I hope not since mine is far from stock lol
Here's the production #s courtesy of Z06 Zone

2001 Corvette Z06 Production Information
# of Cars Built 5773 (284 built in Canada)
Color Options Quicksilver Metallic (12U) - 1345
Speedway White (40U) - 352
Black (41U) - 1719
Torch Red (70U) - 1623
Millenium Yellow (79U) - 634
Interior Colors Black (19I) - 4112
Black/Red (70I) - 1661

2002 Corvette Z06 Production Information
# of Cars Built 8297 (293 Built in Canada)
Color Options Quicksilver Metallic (12U) - 1467
Electron Blue Metallic (21U) - 1814
Black (41U) - 2205
Torch Red (70U) - 1746
Millenium Yellow (79U) - 1065
Interior Colors Black (19I) - 6734
Black/Red (70I) - 1563

2003 Corvette Z06 Production Information
# of Cars Built 8635
Color Options Quicksilver Metallic (12U) - 1089
Electron Blue Metallic (21U) - 1272
Black (41U) - 2599
Torch Red (70U) - 1967
Millenium Yellow (79U) - 1708
Interior Colors Black (19I) - 7200
Black/Red (70I) - 1435

2004 Corvette Z06 Production Information
# of Cars Built 5683
Color Options LeMans Blue Metallic (19U) - 2025
Black (41U) - 1186
Machine Silver Metallic (67U) - 967
Torch Red (70U) - 876
Millenium Yellow (79U) - 629
Interior Colors Black (19I) - 5021
Black/Red (70I) - 662
Commemorative Edition Package - 2025
Commemorative Edition Package European Export - 46

FiveOJoe 07-12-2010 06:27 AM

Re: Will the 2001 Z06 become a classic/collector?
 
Somewhere out there, someone probably has a White/ModRed with less than 1000 miles on it. In another 10-20 years I could see something like that ending up at a Barrett Jackson auction. Short of that, I think 01's will be just as collectable as every other C5 Z, low miles hardly driven cars will be highly sought after when they get to be 30-40 years old.

proexpert 07-12-2010 06:54 AM

Re: Will the 2001 Z06 become a classic/collector?
 
I agree with Joe, basically no. Because of the oil consumption issue and only 385 HP, the '01 is not as nice as an '02. But then one could argue that the '04 is the best C5 Z because of the shocks, and all the other stuff over the '01. Don't keep the car as an investment, buy gold or something that will increase in value with the money.

vant 07-12-2010 07:25 AM

Re: Will the 2001 Z06 become a classic/collector?
 
Unfortunately, I don't think any modern Corvette will ever see the rise in value that the mid-years experienced last decade. Here's why...

Most collectors end up doing the maintenance and/or restoration work themselves. It's a labor of love. Unfortunately, what you have to realize is that modern cars have complex electrical/computer systems that are glitchy and expensive even today.

Imagine how expensive it'll be in 20 or 30 years to repair or replace something like the Vette's cpu, assuming you can find one at all. Also, today you need diagnostic equipment, specialized tools, and a much higher level of skill to maintain the newer ones.

Conversely, cars from the 60's and 70's were primarily mechanical, with very simple electrical systems. The average shade tree mechanic could work on them with basic tools. Parts are still available, but then again, you have to remember that most aren't very complex or expensive to remanufacture.

I think the more complex cars become, the less they'll be worth fixing in the future, and therefore, the less they will be worth to collectors.

My advice is to keep the car if you enjoy driving it. Keep it if you enjoy waxing it. But don't keep it just because you consider it an investment. I think you'll be very disappointed in 20 years just like the C4 ZR-1 guys are now.

YumaZ06 07-12-2010 09:12 AM

Re: Will the 2001 Z06 become a classic/collector?
 
It may be worth more in 40 years, but you will have to maintain it for 40 years (or do a complete frame-off resto = $$$$$) to make any big money on it. In 40 years, all the rubber will most likely need replacing as this stuff only lasts for so long before falling apart. Same with seals, rubber boots etc.

My advice, drive it and enjoy it. :yeadog:

maineyak_2000 07-12-2010 09:13 AM

Re: Will the 2001 Z06 become a classic/collector?
 
Good Call Jake - Cars have always been a poor "investment" Bless your heart if you are havin a love affair with a garage queen. Just drive'em & love'em.

Electronic Parts - availability could go either way,when you consider the total number of C5 coupes & Z's made there is a good chance these "boxes" original or revised will be available.

Cult Cars - Every car has a group of die hard fans and the 01 Z is no different. I drove/rode a used TR 01 in 04 & I gotta tell ya it was damned impressive. Same for the forerunner 99 & 00 FRC. Every owner I have met is totally in love with their FRC

BRIANW401 07-12-2010 02:01 PM

Re: Will the 2001 Z06 become a classic/collector?
 
Quote:

Originally Posted by maineyak_2000 (Post 1320898)
Good Call Jake - Cars have always been a poor "investment" Bless your heart if you are havin a love affair with a garage queen. Just drive'em & love'em.

Electronic Parts - availability could go either way,when you consider the total number of C5 coupes & Z's made there is a good chance these "boxes" original or revised will be available.

Cult Cars - Every car has a group of die hard fans and the 01 Z is no different. I drove/rode a used TR 01 in 04 & I gotta tell ya it was damned impressive. Same for the forerunner 99 & 00 FRC. Every owner I have met is totally in love with their FRC

The poor investment comment is right on! I love cars, but if I would have put all that money that I have spent on cars in the stock market, I would be able to retire by the age of 50. But, you can't put a price on the fun factor of owning a performance ride. I just feel sorry for the guy who bought & modded the Z that I just stole from him for a fraction of the cost. Total investment with parts & labor had to be over $60,000 since he bought it new & it has every mod you can think of. I paid $21,000 with only 35,000 miles on the clock. The thing is mint. For once I came out ahead. Usually I'm the guy on the other end :lol:. I know that our cars will probably never go up in value like the classics of yesterday, but that is ok with me. I'm just going to drive (occasionally race) mine with a huge smile on my face. I love my vette! :yeadog:

Z06-LITE 07-12-2010 04:54 PM

Re: Will the 2001 Z06 become a classic/collector?
 
My 2004 torch red/black Z06 has 1067 original miles. I hope it to gain some value in the next 30-40 years. Or course, I will be dead by then since I am 63 now!! :lol: :lol: :lol:

BRIANW401 07-13-2010 10:01 AM

Re: Will the 2001 Z06 become a classic/collector?
 
Quote:

Originally Posted by Z06-LITE (Post 1320940)
My 2004 torch red/black Z06 has 1067 original miles. I hope it to gain some value in the next 30-40 years. Or course, I will be dead by then since I am 63 now!! :lol: :lol: :lol:

If you would like to, you can will it to me so I can carry on your legacy. :lol:
:lol:Just kidding. I bet it is in PERFECT condition! Hopefully you plan on keeping it so your family can enjoy it for years to come. Maybe your grandkids can make a mint off of it someday.

YumaZ06 07-13-2010 02:07 PM

Re: Will the 2001 Z06 become a classic/collector?
 
Quote:

Originally Posted by Z06-LITE (Post 1320940)
My 2004 torch red/black Z06 has 1067 original miles. I hope it to gain some value in the next 30-40 years. Or course, I will be dead by then since I am 63 now!! :lol: :lol: :lol:

You need to drive that Z more and enjoy it while you can. :yeadog: Life is to short. Every time I get in my Z I feel like I'm 17 again. :lol::lol:

Hell, I feel guilty since I only have 34K on the odometer and I bought mine new.

Z06-LITE 07-13-2010 02:31 PM

Re: Will the 2001 Z06 become a classic/collector?
 
Quote:

Originally Posted by YumaZ06 (Post 1321054)
You need to drive that Z more and enjoy it while you can. :yeadog: Life is to short. Every time I get in my Z I feel like I'm 17 again. :lol::lol:

Hell, I feel guilty since I only have 34K on the odometer and I bought mine new.

When I need to feel a bit younger, I take a drive in my '23 Ford Model T street rod or my JZR (1932 Morgan Areo Sport reproduction). One has almost 500 hp and the other has only three wheels. Both E-Ticket rides!!

bud miller 07-14-2010 09:26 PM

Re: Will the 2001 Z06 become a classic/collector?
 
i don't think my z16 is a classic/collector..at least not in my lifetime...why save it for somebody else..?
http://i243.photobucket.com/albums/f...n/100_0381.jpg
drive um and enjoy them #57 of 2025

ProfessorBlaze 07-15-2010 12:28 AM

Re: Will the 2001 Z06 become a classic/collector?
 
many cars never reach true collector status by selling for 20+ times of the original value.
Top 10 Prices Paid for Cars Sold at Auction

Top 10 Prices Paid at Auction

1. 1961 Ferrari 250 GT SWB Spyder, RM Auctions, May 2008, $10,894,000
2. 1931 Bugatti Royale Type 41, Christie’s, November 1987, $9,800,000
3. 1962 Ferrari 330 TR/LM, RM Auctions, May 2007, $9,821,250
4. 1937 Mercedes-Benz 540K Special Roadster, RM Auctions, October 2007, $8,252,201
5. 1937 Bugatti Type 57SC Atalante Coupe, Gooding, August 2008, $7,920,000
6. 1929 Mercedes-Benz 38/250 SSK, Bonhams, September 2004, $7,443,070
7. 1904 Rolls-Royce 10hp, Bonhams, December 2007, $7,254,290
8. 1962 Ferrari 250 LM, RM Auctions, May 2008, $6,979,000
9. 1931 Bugatti Royale Type 41, Kruse, June 1986, $6,500,000
10. 1962 Ferrari 330 TR/LM, RM Auctions, August 2001, $6,490,000


there are many "collector" cars that are worth above book value, or haven't depreciated much since inception.. but who knows if they will become worth more or less.

C5Z064Life 08-16-2010 08:08 PM

Re: Will the 2001 Z06 become a classic/collector?
 
I have a 2003 Electron Blue Z06 and consider it special because it came with 50th anniversary badges on it, I ordered it new, have all the papers and it is my first and only Vette. But they made 1200 of them. My son is 2 1/2. When HE is 45 years old and there's only 100 left maybe it'll be worth more. Heck in 50 years internal combustion cars might be illegal. Anyway, most guys that pay a bunch of money for a "classic" are fulfilling the dream of owning something they saw as a child and are now willing and able to pay for it. These other crazy guys are buying bragging rights to owning something none of the other rich guys can get. Why else would anyone pay $7.2 million for a 1904 Benz!!?? Just enjoy you vette, garage queens are a real waste.


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