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

1953 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:
Auction Results: 1953 Corvette Sells for $440,000 Technorati Tags:
Corvette | 1953 | C1 | Auction