Is the C3 Corvette ZR1 Really Undervalued?

It’s truly puzzling why this particular machine isn’t worth more than it is.

Bargain Collectible?

In the world of Corvettes, there are many rare, valuable, highly-sought after models, whether that be the iconic L88 or something a bit more common, like the one-year-only split-window. However, there is one particular type of Corvette that hasn’t exploded in value like some of these popular models – the C3 ZR1, which is a bit surprising.

Photos: Mecum Auctions

Super Rare

From 1970-1972, the C3 ZR1 was built in extremely limited quantities – just a total of 53, in fact, which makes it rarer than the L88 or even the 1963 Z06. That’s an incredibly low number by anyone’s standards, and the convertible versions are even rarer.

Photos: Mecum Auctions

Beefy Upgrades

The C3 ZR1 was also a special, performance-focused model like the L88, albeit not quite as hardcore. Upgrades present in this package include the J56 heavy-duty brake package, an aluminum radiator, upgraded shock absorbers, seven rear leaf springs, a 5/8-inch front sway bar, heavy-duty rear spindle struts, and a few other select goodies.

Photos: Mecum Auctions

Plentiful Power

Power comes from GM’s LT1 350 cubic-inch V8, which produces a factory-rated 370 horsepower – a pretty solid if not totally spectacular figure. It’s mated to the M22 four-speed manual transmission and sends power to the rear wheels via a 3.70-geared Positraction rear end.

Photos: Mecum Auctions

Undervalued?

Given all of this information, even casual Corvette fans might expect the C3 ZR1 to be worth hundreds of thousands of dollars, at the very least. However, that isn’t the case at all – in fact, data from Classic.com shows that this model sells for between $99,000 and $228,250, with an average sales price of $114,125.

Photos: Mecum Auctions

Making a Case

Those numbers seem ludicrously low, but then again, not many C3 ZR1s change hands very often, mostly thanks to its extreme rarity. It may not be the most powerful or hardcore or even legendary model in Corvette history, but the third-gen ZR1 certainly seems to be undervalued, particularly when other, more common models are trading for millions these days.

Photos: Mecum Auctions

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Keyword: Is the C3 Corvette ZR1 Really Undervalued?

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