Frenchican

I have restored a 1989 IROC-Z and need to get it properly insured. I could use a little help with a realistic replacment value. I know I can insure it for whatever I want, but at a cost. I also know that I will never sell it for what I have into it. There has been over $25,000 invested in the restoration. Here are the details:

New OEM running gear. Crate 5.7 TPI (swapped out 305 TPI), crate OEM BorgWarner 5 speed with all OEM related parts (clutch, housing and interior console) It took 3 months for GM to have BW built to OEM specs, new underhood accessories, new leather interior (custom to mimic OEM), Paint (all panels removed and block sanded, new weather stripping and all new lighting/lenses).

I bought the car from my detailer who just bought it from a local guy that had the engine/trans done by the dealer. Basically, it was half way done when I got it. Personally I have about $15,000 on my end (plus what I paid for it) in addition to $10,000 that was ppreviously spent. There's about 4,000 miles on the restoration. So, what's it worth?

Jeffs82TA

iTrader: (1)

6K

87_Injected

I hope your joking. It should be at least $12k-$15k from what I see in the pics. I'm sure someone would pay more. Just takes the right buyer.

Frenchican

I was thinking around the $12 to $15K myself. The only time I may get my money back is at the 2045 Barrett Jackson auction...
I just want to get a realistic dollar amount assigned incase it gets wrecked or stolen. Absolutely no plans on selling it.

I truly love this car. I drive this car more than any of my vettes. I set my iPod to my 80's section and cruise the blvd. Ah... takes me back to when I was in the service and couldn't afford the car.

InfernalVortex

iTrader: (4)

Ive never seen one that wasnt just extremely rare sell for more than $6-$7k. And when I mean extremely rare, Im talking 1LE cars. That's just a nice IROC with fresh parts. You might be able to get $10k for it, but I doubt it. A couple of problems I see immediately is that you have aftermarket wheels and the wrong grille, IROC's didnt get the bowtie grille. I think they look better, but that's a car that's going to appeal to someone wanting something the way it came off the showroom floor. Even though the T5 isnt supposed to be matched with the 5.7 because it'll break, that's something a good number of people wont know about. IF tehy did, I'm not sure how much they'd care.

Cars like this are worth big money only when they are rare models restored to completely original specs. Think Indy pace car or 1LE car. Otherwise climbing north of $8k is gonna be a pain in the ***. It doesnt even have rear disc brakes on it...

But if it's just about getting an insured value, just cover your parts cost investment and screw the resale. That's what I would do. My car is worth $1000 on paper but it's probably worth about $4-$5k if Im lucky in real world, despite having at least $10,000 into it.

You could get $20k out of that car if you found the right buyer. But it's going to take you a long time. Realistically I'd say north of $6k, but more than $10k would surprise the hell out of me. Wait about 10 or 15 years and we'll see what happens. But you run into the problem of the car not really being a stock restoration.

huffediroc

Save all receipts and bills, get it appraised and be able to prove whats been done. Then you need someone with an understanding that there buying a mint camaro that are considered antiques now. Around here we dont see to many of them anymore, in decent shape atleast. don't take less then 10k

JaxJags

You're car looks great! I dislike the replica wheels, and the grill is incorrect. I would say that it would be around 10k.

84z .....

its worth what ever some poor guy will pay u lol
10 u.s. maybe

Frenchican

This is good stuff! Yes, I have all the receipts including the dealer install of the major components. Yes, the wheels and grill are not correct (good eyes) but I'm not all that concerned because it is a resto-mod car. Since the engine was upgraded as well as the trans, I seriously doubt it would bring in "collector" money.

Also, I can see why GM did not use this factory 5 speed with the 5.7. It is a bit weak and I would never hit it hard on the streets or any track. But that's what I wanted. Driving my 600hp vette with built tranny, suspension brakes is lots of fun, getting out of that car and into my IROC is just as enjoyable... just in a very different way of course.


Ok, so I'm thinking I shouldn't have a problem insuring it for $10 to $12K and I won't cry if I loose it. Believe me... I've thown more money at things with less results.

NICKO

hell I would buy that at six and I hate red, brite red is the worst to me. I dont know were you get that the idea that a new resto is worth what a perfect high mileage car is, like just over 100k, at least that is what I see here. 10-15 is a realestic number.

eschevyrda

just randomly asking whats the percent on the tint?

TPI TERR

iTrader: (9)

+10k
post some pics of that z06!! lol

firebird1992

how many miles on the dash ?
do you have everything in paper that was done to the car ?

in the real world (right now) this is a 8-9k car just because its not rare
like an 1LE or RS Convertible, But if you take it to like a barrett jackson event your get your 12-15k back and maybe more. also you need to take in the public view do like where u live mmm is that the exotic car part or the low rider part of Cali?

but it spot less so that good i would keep it for 5-10 years and your get a lot more then you think

dealbatony

i would say over 10k easily even tho the grill n wheels are incorrect it would take more than a few grand to keep the body that straight not to mention the paint and fresh interior and it also has the 5.7 engine
which alot of people dont buy cars like ours unless it has a v8..
i sold my 86 v6 for 3500 and it was nowhere near the condition this maro is in..

firebird1992

if he was to find a collector then yea but then again a collector would know the rims and grill is wrong, and number matching but the auction would be the first place i take this car.

ktucker450

Wow is that all these cars are going for down in the US? Up here in Vancouver B.C. you could easily get around 15,000 for it

58mark

iTrader: (3)

great looking car.... It would appraise for more, but a car like that would probably sell for 8-10K

BlueZee28

iTrader: (30)

I think a lot of the people that responded in this thread are confused. They're stating what they think the car should sell for.

I know the situation you're in. You're wanting to know what you should realistically have it insured for.

I had my convertible appraised just for that purpose a couple years ago (2007 or 2008 I think). It was bone stock and I had just bought my truck for daily driving, so I wanted to put collector car insurance on the convertible. I got an appraisal done (which I highly suggest you do as well), and it came out at $12,000 which is exactly what I paid for the car 7 years ago

I think I paid about $125 for the appraisal, it was done by a highly recognized guy in the area, who has gone to court with his clients numerous times and never lost a case against the insurance companies. That in itself is worth a lot more than $125 to me. And I actually am going to get the car re-appraised by the same guy this summer not that I put another $12,500 into it with my swap. I'm aiming to insure car for roughly $22,000-23,000. Like you, I can't expect to sell it for that much, but you can know that I will definitely have it insured for that amount. There's a difference between losing money when you sell a car and losing money when you total it out. I WILL NOT lose my butt on this car should something bad happen to it.

blackgloves

From what I've seen on craigslist in the last few years. 10k wouldn't be outta the question.

BizJetTech

iTrader: (3)

Did you see the date of the thread you just replied to ????

88IROCvertZ

iTrader: (1)

I noticed the dates when the prices they were quoting seemed really low compared to today’s prices..

2010 would have been a good time to pick up a Thirdgen..