In 1979, Glenn Stearns, who would later found Stearns Lending and star in Undercover Billionaire, purchased a rare RS Z/28 Camaro for just $1,500. At the time, Stearns was only 16 years old.
Stearns, a teenage father at the time, acquired the car from a friend. However, he had little understanding of the vehicle’s rarity or significance.
The Camaro, introduced in 1966 as a 1967 model to compete with the Ford Mustang, quickly gained popularity. Its high-performance Z/28 Special Performance package made it particularly desirable.
By 1969, Chevrolet sold over 20,000 Z/28 units, but only 20 of these were produced as RS Z/28s, making them exceptionally rare.
By sheer luck, Stearns became the owner of one of these rare models. Unfortunately, his youthful recklessness led to numerous incidents while driving the high-powered Camaro.
After receiving multiple speeding tickets and losing his driver’s license, Stearns faced pressure from his girlfriend to sell the car. Reluctantly, he sold it for $2,500, a $1,000 profit from his initial purchase.
A Pricey Revelation
After selling the Camaro, Stearns received numerous calls from car enthusiasts asking about the vehicle.
These inquiries raised his suspicions about its true value. One caller eventually informed him that the car was a rare 1969 first-generation Camaro Z/28 RS—one of only five ever made.
This revelation left Stearns shocked, as he had unknowingly let go of a true collector’s item for a fraction of its worth.
Reuniting with the Camaro
By 1984, Stearns had become a wealthy businessman and began searching for his lost Camaro. Decades later, in 2019, he finally found it at an auction in Scottsdale.
To reclaim the car, Stearns paid $150,000—sixty times the amount he had sold it for in 1981 and 100 times what he originally paid in 1979.
The car, now fully restored and still retaining its original features, was showcased by Stearns during an appearance on Jay Leno’s Garage.
In the interview, Stearns shared the story of his long-lost vehicle, which had been a significant part of his teenage years.
Other Classic Car News
In related news, another legendary muscle car has been discovered in pristine condition, with a special surprise under the hood.
The Hudson Hornet, which boasts a rich history that includes appearances in NASCAR and Disney projects, is gaining attention among car enthusiasts.
Meanwhile, a rare fourth-generation Mercury Cyclone is up for sale at $70,000, partly due to its exceptionally scarce color.
Additionally, a vintage Porsche 911 from 1981, with just 2,400 miles on its odometer, has surfaced on the market. The car has remained virtually untouched for 43 years, making it a highly coveted collector’s item.
From auction finds to hidden gems, the world of classic cars continues to impress enthusiasts with stories of rare vehicles and remarkable rediscoveries.