In recent years, the classic car market has seen some surprising trends, but few have been as jaw-dropping as the rise in value of the Chevrolet Camaro IROC-Z. A few of us at Hemmings, who grew up in the 1980s, nearly choked on our Bubble Yum when we saw a red Camaro IROC-Z convertible sell at Barrett-Jackson, Scottsdale for an astonishing $102,300. That’s six figures for a third-generation Camaro!
This shocking sale price raises an interesting question: has the Camaro IROC-Z become a high-value collectible? Just a few years ago, price guides estimated an average value range of $6,000 to $17,000. However, in the post-pandemic market, prices for well-maintained, high-condition models have skyrocketed. While not all IROC-Zs have seen such dramatic price increases, those in top-tier condition now command much higher figures than before.
If you’re considering adding this legendary 1980s muscle car to your collection, this guide will help you understand its history, pricing trends, specifications, and key points to consider when purchasing one.
The Pricing Boom: How the IROC-Z Became a Hot Commodity
In recent years, IROC-Z prices have surged, with pristine examples now selling for double what they were just a few years ago.
- Condition #1 and #2 vehicles (pristine and excellent condition) have seen the most dramatic increases. A model that might have sold for $25,000-$35,000 before the pandemic could now fetch $50,000 or more.
- Typical used examples haven’t doubled in price but have still seen moderate appreciation. It’s still possible to find a decent IROC-Z for under $20,000.
- 1987-1990 IROC-Z models, which featured desirable engine options, now range from $15,300 to as high as $62,000.
While these prices may seem high, they reflect a growing appreciation for the IROC-Z’s unique place in automotive history.
Key Production Years and Features
The IROC-Z was a high-performance version of the Camaro introduced in 1985, named after the International Race of Champions (IROC) racing series. Here are some of the most significant production years:
- 1987: Chevrolet introduced the 5.7L (350 cubic-inch) V8, rated at 225 horsepower. This was the most powerful engine available at the time, though it was only paired with an automatic transmission. The 5-speed manual transmission was offered with the 5.0L (305 cubic-inch) TPI V8.
- 1988: The IROC-Z officially replaced the Z28 as the top performance Camaro.
- 1990: The final year for the IROC-Z. The car was discontinued after the IROC racing series switched from Camaros to Dodge Daytonas.
These later models, particularly from 1987 to 1990, are among the most sought-after today due to their performance capabilities.
Body and Design Features
The third-generation Camaro, introduced in 1982, featured a unitized body structure for improved aerodynamics and handling. It was also the first F-body Camaro to feature a hatchback design, which was both stylish and practical.
Rust Protection and Build Quality
To combat rust, Chevrolet used galvanized metal in key areas, including:
- Upper suspension towers
- Underbody rails over the rear axle
- Wheel housings and trunk floor
- Inner door skins and sail panels
Additionally, factory-applied coatings included:
- Zinc-rich primer on the inner door and roof panels
- Extra-thick paint on the front floor
- Spray wax inside the fenders and doors
Despite these precautions, rust is still a common issue, particularly in floorpans (especially T-top models), door bottoms, and wheel arches.
Exterior Styling
The IROC-Z came with several distinctive styling elements, including:
- Dual body-color sport mirrors
- IROC-Z decals
- Aerodynamic air dam and rocker extensions
- Fog lamps and simulated hood louvers
- Rear spoiler with an integrated stop lamp
T-top models were especially popular, and starting in 1987, Chevrolet partnered with American Sunroof Company to offer convertible conversions. These are rare today, with fewer than 1,100 built.
Chassis and Suspension Upgrades
One of the biggest improvements in the third-generation Camaro was its suspension setup, which provided significantly better handling than previous models.
Front Suspension:
- MacPherson strut design with a bolt-in crossmember
- 1.34-inch front anti-roll bar
Rear Suspension:
- Solid axle with lower control arms and coil springs
- Torque arm to prevent axle rotation
- Panhard bar for lateral stability
- 0.91-inch rear anti-roll bar
The 1LE performance package, introduced in 1988, added:
- Stiffer springs and shocks
- Larger anti-roll bars
- Heavy-duty disc brakes
- Aluminum driveshaft
This package was primarily for racing enthusiasts and remains a highly sought-after upgrade.
Interior and Features
Inside, the IROC-Z featured a driver-focused cockpit with sporty touches, including:
- 145-mph speedometer and tachometer
- Leather-wrapped steering wheel
- Reclining bucket seats (cloth or optional leather)
Higher trim levels included:
- Tilt wheel
- Air conditioning
- Power windows and locks
- AM/FM cassette stereo with optional graphic equalizer
While functional, the plastic-heavy interior hasn’t aged well. Many headliners sag, carpets fade, and trim pieces crack. Fortunately, replacement parts are widely available.
Engine and Performance
The IROC-Z came with multiple engine options throughout its production.
1987 Model Year:
- 5.7L (350 cubic-inch) TPI V8 – 225 hp (automatic only)
- 5.0L (305 cubic-inch) TPI V8 – 215 hp (manual), 190 hp (automatic)
- 5.0L (305 cubic-inch) carbureted V8 – 165 hp
1988-1990 Models:
- The carbureted 305 was replaced with EFI (Electronic Fuel Injection)
- The TPI 305 V8 increased to 220 hp (manual), 195 hp (automatic)
- The 350 V8 reached 230 hp
1990 Final Model Year:
- 305 TPI V8 – 210 hp (standard), 230 hp with G92 option
- 350 TPI V8 – 245 hp
Transmission options included the 700R4 automatic and Borg Warner T-5 manual (upgraded to World Class in 1988).
Final Thoughts: Is the IROC-Z a Good Buy?
If you’re in the market for an IROC-Z, here are some key takeaways:
- Prices are rising, especially for pristine models.
- Rust is a common issue, so thorough inspections are necessary.
- Parts are still available, making restoration easier.
- The 1987-1990 models are the most desirable, thanks to their improved engines and performance features.
The Camaro IROC-Z is more than just a car; it’s a cultural icon of the 1980s. Whether you’re looking for a nostalgic weekend cruiser or a future investment, the IROC-Z remains one of the most exciting muscle cars of its era.
