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Auction Results: 1953 Corvette Fetches $440,000 at Hilton Head

by Keith Cornett on November 6, 2007

The 1953 Corvette Convertible1953 Corvettes continue to fetch big money at collector car auctions around the country. Over the weekend, a 1953 Corvette hit the auction block at Hilton Head’s Concours d’Elegance and sold for $440,000, a figure that ties the high price set earlier this year for the first year mark at the McMullen auction in Detroit. The selling price includes the 10% Buyers Premium. The Hilton Head auction was gaveled by the Worldwide Group. With 1953 Corvette prices up sharply compared to 2005 and 2006, collectors are striking while the iron is hot. Only two 1953 Corvettes were sold at auction in 2006, including the #003 Corvette which changed hands for $1,080,000 at Barrett-Jackson in Scottsdale. So far this year, seven 1953 Corvettes have hit the market, with six resulting in sales. Here are the sales results for 1953 Corvettes for 2007:

Auction Model Price Result
       
Hilton Head 1953 Corvette $440,000 Sold
Mecum St. Charles 1953 Corvette $225,000 High Bid
Bloomington 1953 Corvette $283,500 Sold
Bloomington 1953 Corvette $296,625 Sold
McMullen 1953 Corvette $440,000 Sold
WW – Seabrook, Tx 1953 Corvette $396,000 Sold
Barrett-Jackson (Scottsdale) 1953 Corvette $298,350 Sold
       
  Total Sales: $2,154,475  
This year alone, over $2 million dollars has been generated on the sale of six of these first year Corvettes. The strong results has pushed the Corvette investment market into a new era where being the first Corvette is now on average more valuable than fuelies or big blocks. This trend all but guarantees that we will see more 1953 Corvettes come out of the shadows and into the auction paddocks in 2008.
Source:
Island Packet
The Worldwide Group Related:
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