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Depreciating Corvettes: Top 10 Price Declines of 2007

by Keith Cornett on February 21, 2008

2001 Corvette Z06

Yesterday we shared an analysis of the 2008 Corvette Price Guide in respect to the Top 12 price gainers of 2007. Today we look at the other end of the spectrum to detail the Corvettes with the highest declining vales. We are fortunate that despite a roller coaster economy, depreciation is hitting Corvette exactly where it should be – The C5 Corvette. It should not come as a surprise to see the fifth generation Corvettes holding all ten positions. The norm for newer Corvettes is to reflect double-digit depreciation for some years, followed by single-digit depreciation for several more years and finally cross over in the appreciation area.

Here are the top 10 Corvettes with the highest depreciation values:

Top Depreciation Models
Year Make % Change Average Price
2001 Z06 -20% $23,000
1998 Roadster -18% $19,200
2002 Z06 -17% $27,000
1998 Coupe -17% $17,000
1999 Coupe -16% $18,500
2002 Roadster -15% $27,500
2002 Coupe -14% $24,000
2003 Z06 -14% $31,000
2004 Z06 -14% $33,500
1999 Roadster -14% $21,300

More analysis of the Top 10 Price Declines of 2007 follows the jump.

One surprise on the depreciation list is the C5 Z06. Up until this year, the C5 Z06 Corvette was a bit more insulated from double-digit depreciation due to its performance characterizes and lower production numbers, but that appears to have changed now that the C6 Corvette has been on the street for what is now its fourth year.

Virtually all of the C5s showed double-digit depreciation last year. We expect the early models in the series to drop to single-digit depreciation this year. The Z06s were most notable on the chart. As stated before, they don’t provide ‘open’ cabin driving. From a horsepower perspective, the standard sixth generation Corvettes are comparable.

Following the C5 Corvettes on this list are the 2005-2006 Corvettes which show a depreciation range of -9% to -12%.

The late C4 Corvettes (1992-1996) are slowing in their depreciation with several models starting to turn the corner. We are seeing all but one year of the c4 ZR-1 Corvettes in positive territory now.

The C3 Corvette generation is really starting to mature despite the lack of performance options later in the run. Only two model years, the 1976 and 1977 have an average price under $10,000, The 1979 Corvette is a no change despite having the second highest production in the history of Corvette. In fact, the only C3 Corvette to decline in value is the 1982 Collector’s Edition Corvette which is down slightly at -4%. The regular 1982 Corvette is a no change.

Finally, what’s amazing about Corvettes from an investment perspective is that every Corvette from 1953 through 1978 shows an appreciation in their values. That is 25 years of Corvettes that are increasing in value!

Order the 2008 Corvette Price Guide

2008 Corvette Price GuideThe 2008 Corvette Price Guide covers all Corvette years and body styles with high, low and average prices for each Corvette model. Another important feature of the Price Guide is the provisional one, two and five year appreciation factors for each Corvette.

In addition, the Corvette Price Guide provides the original base price and the number of units manufactured. To complete the content, included is information on motors, wheels, hard tops and factory air conditioning. Price is $15 and shipping is free!

Bob Kroupa of VETTE-N-VESTMENTS provided this analysis of 2007′s top 10 depreciating Corvettes. VETTE-N-VESTMENTS is the data provider for the annual guide and publisher of the monthly Corvette Market Letter.


Source:
VetteFinders.com
Data Provided by Vette-N-Vestments

Related:
Appreciating Corvettes: Top 12 Price Gainers of 2007
2008 Corvette Price Guide: 1953 Corvette Values up 192%
Appreciating Corvettes: Top 12 Price Gainers of 2006

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