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Chevy Camaro ZL1 Garage 56 Edition Value Is Rapidly Depreciating From Its Peak

As they say, the value of something depends on one thing – what someone is willing to pay for it. Cars are certainly no exception to this rule, especially rare collectibles like the 2024 Chevy Camaro ZL1 Garage 56 Edition. Initially, one of these limited-edition vehicles fetched a staggering $260,000 at auction in February. However, recent sales show a marked decrease, with final auction prices dropping by nearly 40 percent in just two months.

The Chevy Camaro ZL1 Garage 56 Edition.

For those that don’t know, the Garage 56 Edition is essentially an appearance package for the 2024 Chevy Camaro ZL1, launched as a tribute to the race car that competed in the 24 Hours of Le Mans as part of NASCAR’s Garage 56 project. This special-edition exterior includes a wealth of racey features, including front dive planes, a front splitter, a rear wicker bill spoiler, and 20-inch alloy wheels, all enhancing its motorsport allure. Further details include Riptide Blue Metallic paint (paint code GJV), white racing stripes, and gold accents, as well as NASCAR emblems and unique badging. Pricing is set at an additional $11,995 over the base ZL1 MSRP. Only 56 units of the Garage 56 Edition were produced.

The rarity of the Garage 56 Edition spiked its value initially as collectors scrambled to secure what could be one of the last ICE-based Camaros. However, more recent auction results suggest that the novelty may be wearing off quicker than anticipated. The 2024 Chevy Camaro ZL1 Garage 56 Edition that sold for $260,000 in February had a sticker price of just $89,185, which means the buyer that secured the win paid a premium of $170,815 – roughly the final price that two other buyers paid for separate examples of the same model just two months later.

The precipitous decline in value highlights the speculative nature of investing in limited-edition vehicles, where market enthusiasm can rapidly shift, affecting resale values. That said, the value of the Chevy Camaro ZL1 Garage 56 edition a few years after the Camaro officially goes EV remains to be seen.

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Jonathan is an automotive journalist based out of Southern California. He loves anything and everything on four wheels.

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Comments

  1. Why surprising? It is an appearance pkg on a ZL1. Buy a ZL1 and add the bits yourself.

    Reply
    1. mkA do the bits as you call them have part #s and if so are they available, plus decals are notoriously difficult to apply, lastly do those 56’s have an identifying VIN#? Your thoughts please

      Reply
  2. Same with the Black one. Big drop from BJ Scottsdale compared to BJ West Palm Beach.
    I think they call it the Panther Edition.

    Reply
  3. This is the last spring and summer that these kinda cars will be overpriced. Can get 2015 ZL1 convertible for $40,000 with decent kms. Gonna be a lot of desperate Camaro and Vette sellers come August. Prices are falling like a stone because people are refusing to pay ridiculous prices anymore.

    Reply
  4. Plastic is the issue for Chevy. Might as well buy an EV and get the speed and power all these plastic cars are a joke!
    Cadilac is a 4 door Camaro take the body off the Vette and what do you have chevy engines and a bunch of plastic. Today mfg’s use by robots and charging buyers 100 % profit for plastic! Manny of the itemes come from Mexico and China all cheap labor while they rip off buyers. Thats why leasing is now the #1 user and buying second hand leased vehicles is where the money is made. Deals are going down with sales while leasing is profitable!

    Reply

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