- A 14-mile Corvette Z06 just sold for almost $30K below MSRP on Bring A Trailer.
- The car featured several desirable options, including the rare 70th anniversary package.
- The huge depreciation appears to be the product of several different influences.
A pristine 2023 Chevrolet Corvette Z06 coupe with just 14 miles on the clock just took a staggering hit on the resale market. Listed on Bring a Trailer, this 70th Anniversary Edition 3LZ Z07 model is loaded to the gills with options. When new, it held an MSRP of $161,675, but after bidding closed, the final sale price landed at just $133,000. That’s nearly $30,000 below MSRP.
Read: The Depreciation On This Ferrari SF90 After Just 185 Miles Is Insane
This example had everything going for it. 3LZ is the nicest trim available on the Corvette. The Z07 package adds several track-focused features that bring even more extreme performance. The 70th Anniversary treatment adds exclusive White Pearl Metallic paint, unique badging, carbon flash wheels, and a two-tone ceramic interior.
Big Specs, Modest Bids
Of course, under the skin, this Z06 hides GM’s wild 5.5-liter flat-plane crank V8 making 670 hp (500 kW) and 460 lb-ft (624 Nm) of torque. That engine can scream to 8,600 rpm and propel the Corvette from 0-60 mph in about 2.6 seconds. Granted, this one has probably never achieved either of those feats in its short 14-mile lifetime.
Still, the combination of options, packages, and low mileage is what most believe will bring a premium at auction. That wasn’t the case, though. In the last few hours of the auction, there were just ten bids that moved the price from $115,600 to its final bid of $133,000.
Photos BaT
From Hot Commodity to Cold Reality
Just a year ago, these cars were trading hands for big money. Dealers were greedily asking tens of thousands over what GM says a customer should pay. Now, those who ponied up the cash are no doubt left holding the bag. What changed in that time? Several things.
First and foremost, Chevrolet isn’t limiting production in the same way that other brands might. It’s gone on record to say that it’ll continue to build as many as it can, and that means the supply is and will remain high.
In addition, the introduction of the ZR1 and ZR1X makes the Z06 seem almost pedestrian, despite it just scoring a 7:11 lap time around the Nurburgring. The lesson for buyers is clear: some performance cars are best driven, not stored away for a hopeful payday later.
Enjoy the Drive, Not the Speculation
One commenter on the auction put it this way, “These are not investment grade vehicles by any means in the current environment. Always subject to change however. The investment is in the experience these bring. When I had the opportunity to drive one, I quickly paid almost no attention to anything other than the sound and the view in front of me.” We couldn’t say it any better.
That perspective feels especially relevant now. For performance cars like the Z06, real value might come less from resale potential and more from the experience of actually driving them.
