Talking with many longtime Corvette collectors and dealers, there is one thing we can finally all agree on: This market sucks for Corvette values. Like the banking, housing and automotive sectors, the effects of this stagnant economy have finally permeated down to the collector car market which includes Corvettes. But for buyers (and we know you are out there) there couldn’t be a better time to make that purchase than right now. But you need tools and research to make an informed buying decision and so we are pleased to announce the availability of the 2010 Corvette Pricing Guide.
Auctions & Results
Mecum’s Collector Car Auction made its annual pilgrimage to Central Florida’s Kissimmee auction last weekend. Florida’s temperate January weather makes this auction a favorite and by most accounts, the auction was a huge success. Record attendance was on-hand to watch 147 Corvettes cross the auction block over four days and everyone must have been buying as Mecum achieved a sales success rate of 81% to total $6.7 million in Corvette sales.
Barrett-Jackson’s Collector Car Auction just wrapped up another successful Scottsdale auction and Corvette sales remain strong. We counted 112 Corvettes that crossed the block and with the 10% commission added, sales totaled $9.19 million. That’s very comparable to 2009′s $9.8 million in sales.
That line of thunderstorms that rolled through Scottsdale last week did a huge amount of damage to the classic and rare cars that were to be sold at the Russo and Steele auction. Wind gusts of over 50 mph destroyed two of the tents that housed the cars, but luckily no people were seriously injured. After the fire department cleared the area, consignors were let back inside to view the aftermath and for many of these Corvette owners, it sure wasn’t pretty.
Once again, GM has stepped up to the plate to do something good for the neighborhood. During Saturday’s broadcast of the Barrett-Jackson collector car auction, a beautiful 2008 Corvette Z06 427 Special Edition was offered for sale with 100% of all proceeds going to the Red Cross for their relief efforts in Haiti. Joining the Red Cross representatives on the stage was GM VP of Global Design Ed Welburn.
Barrett-Jackson’s collector car event kicks off today in Scottsdale, Arizona and to make sure you don’t miss any of the action, we went through the massive car list and pulled out the 114 Corvettes that are scheduled to appear over the next six days.
Mecum’s Kansas City auction was held Friday and Saturday at the Kansas City Convention Center and the results were very favorable. Of the 46 Corvettes on the sales docket, 37 were sold which is a 80.4% success ratio. For a reserve-based auction, this is very good. Total Corvette sales for the auction was $1,096,750.
Mecum’s final auction of the year will be taking place this Friday and Saturday in Kansas City at the Kansas City Convention Center. Forty-four Corvettes are on the auction dockett and along with a host of classics and near classics you find at any auction, Mecum has included these two Karl Kustom C6 Corvettes.
While rally wheels were standard equipment on the 1967 Corvette, there was an optional wheel offered for the final year of the Sting Ray. RPO N89 was designated as “Cast Aluminum Bolt-on Wheels” and 720 buyers selected the pricey option, adding an additional $263.30 to the invoice. Fast forward 40-some years and now an original set of Kelsey Hayes sells for big bucks. How big? How about $20,000!