Low mileage, lots of equipment and a pristine condition couldn’t save this Z06 from depreciating a lot – but why do you think this is?
- This Corvette Z06 had an MSRP of $156K when new, yet fetched just $125k at auction.
- With only 538 miles, the vehicle remained in pristine condition, barely broken in.
- Despite its sharp handling, extreme speed, and loaded extras, it still dropped in value fast.
When it went on sale in mid-2022 as a 2023MY, the Corvette Z06 proved to be a revelation. It was instantly clear that Chevrolet wasn’t playing it safe with this one. The base C8 Stingray had already raised eyebrows by being the first mid-engine Corvette since the nameplate’s debut in 1953. It was also a vastly better sports car than the outgoing C7, and its starting price made it a standout value. But the Z06? That was something else entirely.
More: 2023 Corvette Z06 Sprints To 60 MPH In 2.6 Seconds, Runs The Quarter-Mile In 10.6 Seconds
Apparently, none of that has stopped early Z06s from heading straight into the depreciation pool. A nearly new 2023 Z06 Convertible—clean title, spotless Carfax, and just 538 miles on the clock—recently sold on Bring a Trailer for $125,000. That’s a big number until you consider its original MSRP was $155,970. In other words, someone just ate a $30,000 hit on a car with barely any seat time.
Mind you, this Rapid Blue Z06 is loaded to the gills, as the original owner didn’t hold back on the options. Chief among them are the Z07 Performance Package, the 3LZ Equipment Group, and the Carbon Aero Package. The equipment list is too long to mention, but it even sported carbon ceramic brakes, which are usually found in European supercars costing many times as much.
A Flat-Plane Revolution
That’s what makes the Z06’s lukewarm resale so surprising: this car isn’t just a trim level. It’s a clean-sheet rethink of what a Corvette can be. GM’s engineers could have just souped up the 490 hp, 6.2-liter LT2 V8 of the standard Corvette and called it a day – but they didn’t.
Instead, they developed a brand new eight-cylinder, code-named LT6, which had a 5.5-liter displacement, a cast aluminum block, flat-plane crankshaft, forged aluminum pistons, forged titanium connecting rods, and a dry sump, among other racing-derived features.
Photos Bring a Trailer
Despite eschewing forced induction, it delivered 670 hp and revved to 8,600 rpm; it also beat none other than the vaunted Mercedes-AMG GT Black Series to become the most powerful naturally aspirated V8 in a production car.
Unsurprisingly, it received raving reviews, not just for its engine and performance (although with a 0-60 in 2.6 seconds it was absurdly fast), but also its reworked suspension and chassis that resulted in great handling. Even though it was significantly more expensive than the Stingray, it was still much cheaper than the competition and could see the best of them eye-to-eye.
So, why do you think bidders weren’t willing to pay more than $125k for this pristine Corvette Z06, whereas they go crazy when it comes to less potent and, let’s face it, less capable European sports cars? Is it badge snobbery as the ‘Vette, despite its long and distinguished history, lacks the prestige of, say, a Porsche? Or is it something else? Let us know your thoughts in the comments below.
