Earlier this week we shared our Top 10 Price Gainers of 2008 and now it’s time to look at the other end of the spectrum. The 2008 top decliners is a diverse list that includes last year’s number 2 price gainer, the 1996 Corvette Grand Sport Roadster.
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.
On a comparative basis, not much has changed on the depreciation chart related to percentages since the 2007 chart last year. At that time, the percentages ranged from -14% to -20% very similar to the chart above. All of the Corvettes on the 2007 chart were C5s.
The current chart includes the addition of C4s and C6s. The continuation of C5s includes a new appearance of the 2003 models. Last year the 2004 models seemed to hold that same place with the C5 series. The big question is when will the C5s bottom out from a depreciation perspective?
The C5s are truly excellent buys for consumers who want to experience just how far the Corvette Team has gone in building a handling and performance Corvette with comfort and convenience feature without the big price tag.
The 1997-2002 models are priced below $24,000 in average price. One buys a lot of Corvette for these low prices.
The C6s have joined the depreciation group â€“ but this is normal for newer models. However, given the incentive programs the dealers have to offer during these troubled times with the automotive industry these Vettes are showing accelerated depreciation beyond normal expectations.
We are sure you have noted the appearance of the 1996 Grand Sport Roadster at the top of the chart. After last yearâ€™s appearance on the appreciation chart with a 50% increase in average price, few are selling now and the ones that do sell are showing a 20% decrease from the highs reached just a year ago. But consider this â€“ when new, the list price was approximately $48,000 compared to todayâ€™s average price of $52,000. Original buyers are still ahead of the game.
The C4 ZR-1s are in a “slide” mode with the 1995 as the last production year model, moving down into the mid- thirties. Part of the problem is that a 2004 Z06 that is pumping out 405 horsepower can be purchased below the $30,000 mark. Same horsepower with more options for $5,000 less!
The 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.
Data Provided by Vette-N-Vestments