Dialed_In

iTrader: (3)

I'm doing some research into what IROC's in good, original or restored condition are worth but I cant find much info and would like some input. My racing days are done and I'm in the market for an unmolested IROC. I've scrolled through the classifieds and sold listings on ebay but prices seem to be all over the place from a couple grand to $15-20k. I can remember when these cars were dirt cheap. What should I expect to pay for an '85-90 IROC, hard top, L98/700R4 with no rust and decent interior?

Thanks.

Vanilla Ice

$7-15k here. And $7k is a good condition complete car. $15k would be low mile and would sit a while. There's just no buyers at that range. There's an awesome gunmetal gta that's been for sale for months at $15k. It may have finally sold. Nope still for sale. 58k miles. Which around here is pretty low considering they are 12 month cars.

chazman

iTrader: (4)

$15-$20K will get you a very nice, low miles, original.

What most people consider "restorations" are a decent paint job, incorrect re-upholstery and random new-ish interior trim. Very few people go to the trouble of restoring these cars correctly. Stick to low mile original cars. There are still a lot of those available.

Steve86TA

iTrader: (57)

You get rid of the 88 you had?

Prices have been all over the place lately. I have seen some very nice ones in the 6-10 range on up. I have also seen some that the owners spend too much time watching BJ auctions..

KMK454

The asking prices have gone up, especially from those in the know about these cars. However, there are still deals to be had at a local level.

chazman

iTrader: (4)

Yup, deals are out there, but you have to hunt for them. Getting tougher to get a good deal on an international site like eBay. So I agree about the local level.

Dialed_In

iTrader: (3)

Hey stranger. Yes I got rid of the 88, sold it to someone who is building it and im hoping to buy it when it's finished. Trying to ascertain a realistic value. I see many listings but few complete sales.

ray jr

iTrader: (2)

Theres alot of good deals out there , just have to search

Dialed_In

iTrader: (3)

Right...but that doesnt help determine what market value is. Not really looking for a deal, more trying to ascertain what the going rate is.

Vanilla Ice

If you can't get an answer (it's impossible unless there are comparable cars for sale in the same area) then it's a simple process.

Seller puts the car up for sale at the price they want to sell it at.

If they have a clue it goes 1 of 2 ways:
They get a lot of serious interest -> raise price.
They get no serious interest -> Lower price.

If they lower the price to an unreasonable-to-sell price, then they cancel the sale of the car or try again a different season.

With this in mind as a buyer you go see a car you want. Ask them about the interest they've had. HAVE A CONVERSATION about it. Ask them what offers they've had. Foot traffic. Calls. Do it in a casual conversational way. Maybe ask a question every once in a while while chatting about the car. Get the info you NEED to make a determination of value to the owner. This is a negotiation tactic I use very effectively... the very smart ones may catch on, but most will give you everything, even a dollar amount that you don't expect.

Then you know if they will sell at that price or if it will sit a while.
Then make an offer that seems reasonable after this conversation. You'll be able to make a good offer OR you'll know not to after all is said and done.
If you make a reasonable offer that's too low then you can bid back and forth.

ray jr

iTrader: (2)

there is no market values on third gens right now .. prices are all over the map .. i bought four third gens in the last year and got great deals on all of them and there all in excellent condition ..

KMK454

The best thing you can do is go to Mecum's website and register for an account, then search auction listings for cars you want.

My guess is for what you want, expect to spend $7k to $15k as Vanilla Ice mentioned. Depending upon how patient (and lucky) you are, you can find some deals.