Today we conclude our annual Corvette pricing series by taking a look at the Corvette generational pricing highlights of 2007. The years continue to be good for Corvette owners. Nearly all Corvettes from 1953-1982 are showing appreciation. Many C4 Corvette models have turned the corner and are beginning to show modest increases. And finally, depreciation is happening where it should – the C5 and new C6 corvettes.
This generation is the appreciation trend leader for the Corvette resale market. Appreciation results are from +6% to +192% – quite a range. At 6% there was the 1961 model at an average price of $44,000. Most of the first generation Corvette information was covered in the appreciation overview. We expect these models to continue as the appreciation leaders in 2008.
The mid-years will always be a popular series with the Corvette enthusiast. The unfortunate results of this popularity is that they are becoming out of purchase range for the average Corvette buyer. The appreciation range was between +6 – +19% with several models in the 6% column. The 1964 Coupe continues as the entry level for this series at an average price of $33,500 and shows a 6% appreciation factor.
The average price range for this generation was from $9,200 (1978 T-Top) to $27,900 (1969 Roadster). The appreciation range reflected from a position of ‘No Change’ to +17% as shown on our chart. Only one model reflected depreciation, the 1982 Collector at an average price of $18,000 that reflected a (-4%) change.
In this category, excluding the Grand Sport models, seventeen of the models are showing appreciation numbers in average price of +1% to +9%. An example of this group at +9% was the 1990 ZR1. In the negative department, the range was (-1%) to (-13%) where the (- 13%) depreciation representative was the 1987 Roadster. Average prices spanned from $8,700 (1984 Coupe) to $41,700 (1995 ZR1).
The prices of the early models in this generation (1997-2000) were below the $20,000 mark. At these kinds of prices one buys a considerable amount of Corvette performance, handling, technology and comfort and convenience features. These may become the entry level Corvettes for first time buyers. None have yet been identified as showing appreciation, however the 1999 first year Hard Top is showing a (-6%) depreciation factor rather then double-digits at $17,900.
The Coupes in this series are showing single-digit depreciation of (-6%) to (-9%). The 2006 Roadster and 2006 Z06 are at (-10%) and (-11%). If past history is any indication, we expect all models to reflect double-digit depreciation during this year.
The 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.
Data Provided by Vette-N-Vestments