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Appreciating Corvettes: Top 10 Price Gainers of 2008

by Keith Cornett on March 10, 2009

1976 Corvette Coupe

The 2008 Corvette Calendar was quite interesting starting with the continuation of record sales prices and appreciation factors. But the slowing economy in the second half of 2008 put the brakes on double digit appreciation for all but one Corvette model, the 1976 Corvette.

Data from the 2009 Corvette Price Guide comes from analyzing the selling prices of over 5,800 Corvettes during 2008 and then comparing the sales figures to years prior. That method has proven to be a statistically accurate measure of the Corvette Market.

Top Appreciation Models
Year Make % Change Average Price
1976 T-Top 10% $10,800
1962 Roadster 9% $52,700
1963 Coupe 9% $54,500
1977 T-Top 9% $12,000
1957 Roadster 8% $64,800
1965 Roadster 8% $46,100
1960 Roadster 7% $50,400
1963 Roadster 7% $41,600
1964 Roadster 7% $38,200
1966 Coupe 7% $46,200

Quite surprisingly, we found the 1976 Corvette at the top of our appreciation chart at 10% followed by the 1977 model at 9%. Evidently what we are seeing is renewed interest in the last of the traditional C3 body style models prior to the C3 change to a ‘fast back’ body style with the 1978-1982 models. It is also interesting to note the 1976 and 1977 T-Tops are selling at approximately $10-$12,000 LESS than the C3 chrome bumper Corvettes with the same body silhouette.

Seeing the 1962 Roadster and the 1963 Coupe near the top of the appreciation chart came as no surprise. Both had been priced below the $50,000 threshold in average price during the previous year.

The 1962 was unique, but not just because it was the last of the first generation body style. In addition, the popular 327 motor was introduced with this model.

In our opinion, the 1963 Coupe still remains underpriced at an average price of $54,500. With its unique split-window styling it should command more in today’s market. It looks like the buyers may be sharing our opinion based on its appreciation chart position at #3. This model was the only repeat Corvette shown on our 2007 chart last year.

Two other solid axles on this year’s chart, the 1957 and 1960 models, were new additions. The features of the 1957, with its ‘clean line’ styling and vast array of motor options, were instrumental in its appearance on this year’s chart. The 1960 continues to be a popular model with its ‘last of the notable grill’ treatment. It, too, has crossed the $50,000 threshold at an average price of $50,400.

The mid-years continue to show their popularity with the appearance of six models on this year’s chart. Note that four of the six are priced below $50,000 in average price. It appears that in the near future, those below $45,000 will be considered to be a good buy. Today that threshold is $35,000.

As we so often indicate, the 1964 Roadster model is the entry mid-level Corvette based on price. Despite this fact, it too has moved to the appreciation chart. Its counterpart, the Coupe, is on the good buy threshold at $35,000 in average price.

One third generation Corvette, the 1970 Roadster, made this year’s chart at an average price of $29,500. These are few in number as a work stoppage during the 1969 model year extended production of the 1969 and shortened the 1970 production year to seven months. There were 6,648 Roadsters built in 1970 compared to 16,633 produced during the 1969 model year.


Order the 2009 Corvette Price Guide

2009 Corvette Price GuideThe 2009 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 2008′s top price gainers. 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:
2009 Corvette Price Guide Released

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