In our final installment of our analysis of the 2009 Corvette market, we present an overview of the Corvette values by generation as documented by our Corvette pricing guru Bob Kroupa of VETTE-N-VESTMENTS.
The following are highlights of the 2010 Corvette Price Guide:
C1 Corvettes 1953-1962:
The solid axle Corvettes were few in number at auctions and that is reflected in the sales column during the 2009 calendar this year. Other that the previously mentioned 1953 Roadster and the 1958 Roadster at ‘no change’, the depreciation range was -2% to -10% in average price. Excluding the 1953 model, the average price for the series was $54,000, with the 1959-1962 models showing average prices under the $50,000 threshold with the 1954-1958 models exceeding the $50,000 mark.
C2 Corvettes 1963-1967:
The auction action continued to excite buyers with numerous mid-years crossing the auction block. The depreciation numbers in average price ranged from -2% to -8%. The price leader in average price continued to be the 1967 Roadster at $56,300. The entry level priced mid-year Corvette continued to be the 1964 Coupe at $33,900. The average price for the mid-year models was $44,760. Only three exceeded the $50,000 mark – the 1963 Coupe, 1967 Coupe and the 1967 Roadster – as usual!
C3 Corvettes 1968-1982:
The majority of sales in the 2009 auctions went to the third generation Corvettes. The entry level price at $8,900 went to the 1978 T-Top. Representing the average high price for this series was the 1970 Roadster at $28,600 with a depreciation factor of -3%. None of the models in this series were on the plus side of the appreciation ledger with only one, the 1982 Collector Edition, at ‘no change’ in average price at $16,500. The depreciation percentages ranged from -3% to -12%.
C4 Corvettes 1984-1996:
The fourth generation models are interesting from a price perspective. We noted little change in average prices between model years. As an example, the price spread between the 1984 Coupe started at $8,000 and ended at $10,300 for the 1990 Coupe. The price difference on many of these models was only a few hundred dollars between model years. The entry level was the 1984 Coupe and the high average price for this series was $45,000 for the 1996 Grand Sport Roadster.
C5 Corvettes 1997-2004:
This generation, the fifth, continues with resale prices in double digit depreciation. Many of these sales are termed excellent buys and are below the $20,000 mark. As we say frequently, these prices buy a considerable amount of styling, performance, handling and comfort options. The entry level price at $13,000 goes to the first year model – the 1997 Coupe that showed a -13% depreciation factor. The high price at $26,000 is represented by the 2004 Z06 at a -12% depreciation. The 1997 model through the 2002 models showed a depreciation range of -10% to -14% with the majority of the 2003-2004 models showing -14% to -18%. It appears that the earlier models in this series are slowing down from a depreciation perspective. One wonders how low this great Corvette can go from a price perspective.
C6 Corvettes 2005-2010:
Depreciation ranges from -7% to -20% for this series is expected. The higher levels of depreciation represent the Z06 models. The entry level remains the first year of the series, the 2005 Coupe at $27,500 that showed a -13% depreciation factor. At the other end of the spectrum is the 2009 ZR1 at an average price of $110,000 with depreciation at -12%.
We continue to monitor other Price Guides as a sanity check and continue to be confused! We are at numerous Corvette auctions positioned in the front row in an effort not to miss any of the auction action. We know who is bidding, what the final bid is and whether or not the Vette is sold at the final bid. Prior to and during the auction, each Corvette is inspected and pertinent data on each is recorded. In addition, we attend dealer-only auctions to monitor the wholesale prices of Corvettes.
BOTTOM LINE: We feel our price data is accurate. A few examples of prices from other Price Guides that are suspect are as follows. All were shown as in good condition with the base motor, except for the 1995 ZR1 that had no optional motor:
- 1957 Roadster at $37,000
- 1961 Roadster at $34,775.
- 1963 Coupe at $36,500.
- 1967 Roadster at $39,000.
- 1970 Roadster at $18,500.
- 1978 Pace Car at $13,600.
- 1995 ZR1 at $27,500.
- 1996 Grand Sport Roadster at $29,000.
We are the lookout for the location of these ‘low’ priced Corvettes and will pass on to our readers their locations when found!
The 2010 Corvette Price Guide
The free online version features the average prices of over 130 different Corvette models spanning 1953-2010. The printed version, which contains High/Low and Average prices as well as appreciation/depreciation percentages is available for $15 and can be purchased through the VetteFinders.com online store. Shipping is free.
Bob Kroupa of 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