Corvette continues with another great year that ended on December 31, 2006. The new models continued to impress the consumers with media recognition and numerous awards. In the Corvette resale arena, once again our concept of “Vette-N-Vestments” continued to move up the model years with positive results in average price. As shown in our 2007 Corvette Price Guide, positive results convey through the third generation Corvettes, 1953-1982. The fourth generation Corvettes, 1984-1996, there are 30 of the 38 models showing no change or positive results in resale value appreciation. The good news continues with the fifth generation Corvettes, 1997-2004 with three models showing positive results and two reflecting no change compared to none in this classification one year ago.
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Holding down third position was one of the early models, a 1954 Roadster, always a classic. For a number of years, the appreciation factor of this model was at a minimum. Our 2004 and 2005 Price Guides showed the average price for the 1954 Roadster to be in the mid to upper thirties. One year ago it made the top ten list showing a 12% appreciation factor at $43,900. This year it has broken the $50,000 threshold at $50,600. With the 1953 “look-alike” selling at an average price of over $100,000, the 1954 model, available in a number of rare colors, has whet the appetite of first generation enthusiasts. The appreciation chart continues with the 1971 T-Top and Roadster along with the 1970 T-Top. Again the collectability and appreciation factor of the early models of the third generation Corvette is being realized by the consumer, consequently the average resale price is being driven to record levels. The word on the street is, “if it has a chrome bumper, buy it!”
Another perennial contender on the appreciation chart is the 1958 Corvette with its unique, one year only, louvered hood and dual chrome strip on the trunk lid. When introduced, the media had mixed emotions on the new body style. It was a ‘love it’ or ‘hate it’ affair. Today it seems the Corvette enthusiast is more interested in ‘love’.
The 1962 Corvette, last of the solid axle Corvettes, reappears on the appreciation chart. The last year mystic of its generation was instrumental in its appearance on the list again this year. Evidently the same desire shown the 1967 model in the mid-year generation is bringing buyers to the 1962 model, last of its generation. Speaking of mid-years, the appreciation chart closes out with three of these classics represented. These models have been under-priced when compared to the 1967 models. They too, offer several high performance motors and rare options to entice buyers in the resale market. Tomorrow, we’ll post our list of Corvettes with the highest depreciation. The 2007 Corvette Price Guide contains data from the sales of over 5,800 Corvettes from last year to give us the High, Low, and Average prices of all Corvette model years and body styles. The guide also contains appreciation and depreciation figures for One, Two and Five years, as well as pricing for options including motors, wheels and A/C. Available now for $20 through the VetteFinders.com online store. Shipping is now free.
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