- A 1990 Corvette ZR-1 with only 53 original miles takes up space in the original owner's garage.

One of our three "Sports Car Saturday" "Classifind" features this week on GuysWithRides.com is this 53 original mile, red over black leather, 1990 Chevrolet Corvette ZR-1 currently listed for sale on the New York Craigslist by whom we believe is the the original owner with an asking price of $68,500.  The #1 "Concours" estimate on the Hagerty Insurance Online Valuation Tool is $41,000, so the current caretaker is banking a buyer will be willing to pay a $27,500 premium for what is essentially a 30 year old new car.

In 1990, the C4 Corvette's base price was $31,979 and checking the ZR-1 package option box added a whopping $27,016 for a combined total of $58,995.  That's the equivalent of $117,538 in today's dollars.  We suspect this seller bought his "King of the Hill" ZR-1 on speculation hoping in 30 years it would be worth a lot more.  Turns out that was a bad decision as ZR-1 prices stalled in the collector car world for many years and are only now starting to see a modest rise.

Look online for a decent financial calculator and you'll find that same $58,995 invested in 1990 in an S&P 500 index fund (with dividends reinvested every year and ignoring taxes) would be worth an estimated $1,032,246 today. 

This poor 53 mile 1990 Corvette ZR-1 still has all of the dealer-prep wrappers in place and the leather looks unused.

This poor 53 mile 1990 Corvette ZR-1 still has all of the dealer-prep wrappers in place and the leather looks unused.

That's a much better return on your money than having a new unused Corvette take up space in your garage for 30 years. We'll never understand the logic of someone buying a new car only to go through the hassle of storing and maintaining it with the hope of someday having it be worth way more.

The moral of the story - buy new cars to drive and enjoy, not save for the next caretaker!

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