To this day, (even several months after its release), if you browse the for sale sections on certain sites, especially Facebook, you’ll still see high markups on new and used C8 Z06s. I’m there every day throughout the day and often get a chuckle at the comments from the tire-kicking price police, and unless it’s at MSRP with no frivolous dealer add-ons, you’ll also see a lot of laughing emojis.
It is what it is, and that’s where we are with this market, as the production and allocations simply have not caught up with demand (I wrote about the dynamic here). Another dynamic is the action GM took to try to curtail flippers, which we wrote about here. The time frame for the original owner to hold on to the Z06 was lowered to 6 months (from a year), so most of these 6-digit purchases will not have a warranty.
Here are the results from the May 2023 Mecum auction held in Indianapolis, in order of “cheapest” to most expensive.
1) LOT K126.1 Summary
Trim/body style: 1LZ Coupe
Miles: 135
Original MSRP: $112,170
Transferable Warranty: No (built in April)
Bid to: $165,000
Result: SOLD!
2) LOT J151.2 Summary
Trim/body style: 1LZ Convertible
Miles: 1,300
Original MSRP: Not Available
Transferable Warranty: No (built in January)
Bid to: $175,000
Result: No Sale (did not reach reserve set by seller)
3) LOT K44.1 Summary
Trim/body style: 3LZ Coupe
Miles: 36
Original MSRP: Not Available, but indicated to have over $33,000 in options
Transferable Warranty: No (built in April)
Bid to: $190,000
Result: No Sale (did not reach reserve set by seller)
4) LOT S233 Summary
Trim/body style: 2LZ Convertible
Miles: 1,251
Original MSRP: Not Available, but indicated to have $8,495 Carbon Aero Pkg and $8,495 Carbon Ceramic Brakes
Transferable Warranty: Most likely (has early 061 VIN)
Bid to: $190,000
Result: No Sale (did not reach reserve set by seller)
5) LOT L130.1 Summary
Trim/body style: 3LZ Coupe
Miles: 3
Original MSRP: $148,970
Transferable Warranty: Most likely as the Autocheck history report shows it’s never been titled, thus not a flip
Bid to: $192,500
Result: SOLD!
6) LOT L1 Summary
Trim/body style: 3LZ Coupe
Miles: 8
Original MSRP: Not Available
Transferable Warranty: No (built late March, shows 1 owner on Autocheck history report)
Bid to: $198,000
Result: SOLD!
7) LOT S95.1 Summary
Trim/body style: 3LZ Convertible
Miles: 24
Original MSRP: Not Available
Transferable Warranty: No (built early April, shows 1 owner on Autocheck history report)
Bid to: $214,500
Result: SOLD!
What do these results say? Well, for starters based on a sales ratio of 57%, I think we can say the market is cooling off just a bit, but definitely not dead. And the average sales price over the 4 sold was $192,500, so pretty strong considering the MSRP of a base Coupe begins around $105,000. The next Mecum auction is set for June 9-10 in Tulsa, Oklahoma, and I certainly can’t wait to see what the Z06s do there.
We have an active community on our Facebook page, I would love to hear what you think about these prices. Douglas B.
