What is this or that old car worth? That's a question that comes up frequently in the classic car world. While the answer is easy to find with some models, with others, it's quite the opposite. And in the case of newer vehicles, like those from the 1980s and 90s, demand and supply and the pricing that follow them are evolving at breakneck speed.
A speed capable of making people splurge. At least, that’s the first impression we got when we saw that an enthusiast recently shelled out $56,000 USD for a 1987 Chevrolet Camaro Z / 28 IROC-Z.
That's a lot. A huge amount, even. And why so much money for what we think is a less popular model?
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Well, for one, the model is advertised with only 2000 miles on the clock, and for two, it comes in frankly impressive condition. It should be noted that the Carfax report mentions that it is possible that the odometer has reached 100,000 miles and the car has potentially 102,000 miles. That would have to be analyzed closely to be sure.
The Camaro has an original colour, a T-Top, power windows, bucket seats, 4-speed automatic transmission, limited-slip differential and a Delco audio system including cassette player and graphic equalizer.
Under the hood, this IROC-Z is powered by a 5.7L V8 with 225 hp, a respectable power for the time. Either way, you don't buy this model for the muscle it offers, but rather for the memories it brings back.
And that’s what brings us to its value. The car isn't worth $56,000, to be honest. However, this is the value put on it by a person ready to pay to get it.
And since we're talking about a model that's already 35 years old, we'll soon be talking about a car that's becoming rarer to find in original condition.
The value of Camaros from the 1980s is set to rise. How far? It’s very difficult to predict. Who knows, maybe the new owner just landed a good deal? We doubt that, especially in the short term, but in 2035, when the gasoline car may no longer exist new, who knows?