Buyers Of The $75,000 Camaro Z/28 Should Think Twice Before Waiting The Next '20 Years' To Drive It
ByI don't know much about cars, but I've gradually built a base knowledge of collectables, aided by my love of the hit History Channel series, "American Pickers." The purpose of the Chevrolet Camaro Z/28 is still more related to cars than anything else, but a more-than-average portion is about collecting and the dangerous game of forecasting appreciated value, according to CNN's money section.
Priced at $75,000, the Z/28 is specifically designed for speed around the track. (Buyers can choose between just two options: $75,000 for the already sparse racer or $76,150 with a radio and air conditioning; purists might choose the former). Though its engine is less powerful than the Camaro ZL1 ($55,000), carefully engineered weight modifications, including lighter back seats, no power seats, less insulation, less rear window glass, a smaller battery, and no tire inflation kit, help it move faster on a race course than the Porsche 911 Carrera S, the Lamborghini Murcielago, and (I'm only assuming on this last one) all other Camaro models, according to General Motors.
"The Camaro Z/28 is an uncompromising performer that's bred for the track -- and every one of its unique components supports the goal of faster lap times," Mark Reuss, president of GM North America, said in a statement.
I won't disagree with Reuss on that point, but I'm a little wary of his next statement concerning the car's future prospects as a collectable.
"You'll have a large percentage of of buyer's who'll drive it a little and then put it in a garage with nine other cars," Reuss told CNN. "If you're smart, you buy it, you don't do anything with it and you bring it out in about 20 years."
Anticipating an item's potential as a collectable twenty years from now, which is really just judging how cool it will be perceived, is dangerous. It reminds me of those commemorative pieces celebrating a sports championship: are those ever actually worth more future dollars than the exorbitant price you already spent? Probably not.
True collectors hold on to items others neglected, items discarded because they assumed more would be produced or they couldn't anticipate a world where that item would strike a special cord within humanity. Perhaps this car is cool today, but some future innovation could make its production seem foolish and actually decrease its value. The days of keeping Headliners in the box are over. Bring this $75,000 puppy out today. It may not be worth the wait.