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Buying & Selling

2007 Corvette Pace Car Allocation Info

by Keith Cornett on February 23, 2007

2007 Indianapolis 500 Pace Car ReplicaCorvetteConti.com has posted some preliminary information about how Chevrolet will allocated the Pace Car Replica Corvette to its dealers. We do know that GM will begin producing the Pace Car replica’s for consumer purchase in May and June. A street date for availability has yet to be released but we do know that it won’t happen prior to the annual Memorial Day 500 race. If you are interested in obtaining a 2007 Indy 500 Pace Car replica, then here are some guidelines outlining how the Corvettes will be allocated:

“The intention is to provide a minimum of one Pace Car replica to each dealer who sold 24 or more Corvettes (including Z06) from 4/1/06 – 3/31/07. (Two Corvettes per month) It is anticipated that approximately 345 dealers will receive at least one Pace Car replica allocation. The balance of the available allocations will be distributed based on each Dealer’s percentage of total Corvette sales for the subject period so that the largest Corvette dealers will then receive multiple allocations. Pace Car allocation will be included within May 2007 estimated shipments and will be communicated as a constraint during the DOSP cycles for TPWs 6/4/07 ~ 6/18/07. Constraints will not be protected and any constraints not utilized by the originally assigned dealer will be made available to other dealers having May Corvette allocation. Using code CCR will help secure allocation. Final determination of individual dealer allocation cannot yet be communicated since a few dealers on the fringe may change between now and the end of March. However, it should be safe to use the 24 Corvette sales cutoff when providing generalized guidance as to whether or not a dealership will have allocation ”
So there you have it. Find yourself a dealer who has a larger allocation of Corvettes, and make sure you bring your checkbook.
Source:
CorvetteConti.com Related:
Dealer Attempts Sale of Ron Fellows Z06 Corvette On eBay
Corvette Convertible to Pace Indianapolis 500 Technorati Tags:
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Dealer Attempts Sale of Ron Fellows Z06 Corvette On eBay

by Keith Cornett on February 20, 2007

The Ron Fellows ALMS GT1 Championship Corvette Z06Plans are being firmed up for how the roughly 300 Ron Fellows ALMS GT1 Championship Z06 Corvettes will be allocated in the US. But that didn’t stop Hare Chevrolet of Noblesville, Indiana for a chance to cash in on the hype surrounding the Artic White Signature Corvette. On February 12, just 5 days following the debut of the car at the Chicago Auto Show, Hare Chevrolet created an ebay auction to sell their allocation of the Z33 Ron Fellows Corvette Z06. If you want it, just bid the amount OVER MSRP that you want to pay for it. The bidding reached $16,700 but failed to make reserve and the auction ended yesterday, February 19th. From the eBay auction:

Bowling Green are only making 300 of these rare Z06′s for sale in the United States!! Hare Chevrolet will be getting ONE of these!! To put it in perspective for all bidders, there are over 4300 Chevrolet dealerships in the country, and once these collectibles are gone, they’re gone. Here is your chance to truely own a Rare Z06… The bid that you are bidding is for the price over MSRP you are willing to pay. Example; winning bidder of $25000.00 will be responsible for MSRP plus $25000.00 plus $125 documentation fee. That’s it.
I’m not against a dealer trying to make a buck or two, and perhaps the auction format is the best way to allow the market to decide who wants the Corvette the most. I am wary of those selling cars that haven’t even been built yet. What if the dealer doesn’t get the allocation? What if the dealer’s owner suddenly decides he wants the car. Too many factors this far out can only lead to dissatisfaction with the dealer and the sales process, thereby reinforcing the axiom of “car dealers are out to screw the customer”.
Source:
eBay.com Related:
2007 Z06 Corvette MSRP Increases Nearly $3K Technorati Tags:
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January 2007 Corvette Sales

by Keith Cornett on February 2, 2007

In the month of January, Corvette sales declined significantly from December and are down as well in the year to year number. 2,234 Corvettes were sold in the month of January 2007, 847 cars less than the 3,081 Corvettes in December 2006 and 345 cars less than January 2006′s total of 2,579. While the December to January sales decline looks like a large drop, historically we find that sales of Corvettes in January are much lower than what they were at the end of the calendar year. Each month we will add the sales figures to the graph below and carry it over to each new report.

Month Calendar Year-to-Date
Month 2007 2006 % Change Months 2007 2006 % Change
January 2,234 2,579 -16.8% Jan-Jan 2,234 2,579 -16.8%

Source:
General Motors Related:
December 2006 Corvette Sales Technorati Tags:
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Barrett-Jackson Auction Starts Today

by Keith Cornett on January 16, 2007

2007 Barrett-Jackson Collector Car AuctionThe Barrett-Jackson Collector Car Auction gets underway today with the first 150 cars expected to cross the auction block. This is the 800 pound gorilla of car auctions and the prices of cars sold at this auction could help us forecast the collector car market for the rest of the year. While we’ve already mentioned the star Corvettes like The Last Corvette, the Dual 1963 SWC Tankers and the 1967 Yenko Corvette, there is actually a wide variety of Corvettes that will be available. In fact, 150 Corvettes are expected to be sold in the next few days raging from a 1953 Convertible to a 2003 Safety Pace Car. Speed Channel (check your local listings) will have coverage throughout the week with most of the action happening in primetime on the weekdays and afternoons through primetime on the weekends. You can get a list of the lot numbers scheduled for each day so if there is a particular car you are interested in, you can probably see it auctioned. The Star Corvettes that we mentioned above as well as most of the other star cars are scheduled for primetime on Saturday. CorvetteBlogger.com will have continuing coverage of the Barrett-Jackson Collector Car Auction as well as a roundup of the results as they become available.
Source:
Barrett-Jackson Collector Car Auction
Speed Related:
2006 Barrett-Jackson Corvette Sales Top $12.6 Million Technorati Tags:
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2006 European Corvette Sales

by Keith Cornett on January 11, 2007

The Corvette brand continues to be well accepted in GM’s European Market. Sales totaled 1,257 Corvettes for 2006, which was on par with 2005 Sales. These numbers are significant to GM as prior to the C6 model, yearly Corvette sales were in 300-400 range. Part of the GM strategy for introducing the Corvette to European buyers has been the building of a number of specialized dealerships for Cadillac/Corvette/Hummer. In 2006, Cadillac saw 22% growth in sales while Hummer H2 and H3 Sales tripled to 1,848.
Source:
GM Europe via AutoSpectator.com Related:
December 2006 Corvette Sales Technorati Tags:
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December 2006 Corvette Sales

by Keith Cornett on January 4, 2007

In the latest monthly sales report released by General Motors, Corvettes sales continue to slide against the monthly numbers from the previous year. Corvette sales were down 2.2% in December 2006 vs December 2005 with 3,081 deliveries vs 3,271 Corvettes delivered the previous time period. Calendar Year to Date sales still remain strong despite the monthly downturn and are higher than the same time period a year ago. 2006 January to December sales show a 12.4% increase with 36,518 Corvettes delivered vs 32,489 Corvettes delivered in 2005. There were 26 selling days in December 2006 vs 27 days in December 2005.
Source:
GM Related:
November 2006 Corvette Sales Technorati Tags:
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November 2006 Corvette Sales

by Keith Cornett on December 2, 2006

GM’s November 2006 Sales Report has been released. Corvette Sales for November 2006 have shown a -12.2% decline from November 2005. Last month, GM sold 2,773 new Corvettes vs. 3,157 for the same month in 2005. This is the second month in a row we have seen a decline, though last month’s dip was only -3.4%. Calendar year to date sales are still strong with 33,437 Corvettes sold January-November 2006 vs 29,218 sold in 2005. That is still on pace for a 14.4% increase over last year. There were 25 selling days for both the November 2006 and 2005 sales period. Source: GM
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October 2006 Corvette Sales

by Keith Cornett on November 6, 2006

GM’s October 2006 Sales Report has been released and Corvette sales dipped 3.7% in Year to Year monthly sales. 2,761 Corvettes were delivered in October 2006 vs 2,981 in October 2005. Calendar Year-to-Date sales are still stong but have also declined slighlty over last month with a 17.7% gain of 30,664 Corvettes delivered in 2006 vs 26,061 in 2005. Last month a total of 3,056 Corvettes were sold vs the 2,761 Corvettes moved in October 2006. There were 25 selling days for the October 2006 period vs 26 selling days in October 2005. Source: GM
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DecodeThis: Your Online Corvette VIN Decoder

by Keith Cornett on October 30, 2006

1972 CorvetteOne of the many questions I constantly get (and love!) is how to decode a Corvette’s Vehicle Identification Number (VIN). The VIN can contain some interesting information including Body Style, Engine Size and if the Corvette may be one of a select number of special edition Corvettes. Early Corvette VIN’s contained mostly just the body style numbers. Beginning in 1972, the engine option was coded into the VIN, and in 1978, the first special edition Corvette, the Pace Car Replica had its own digit in the VIN. An interesting website called Decodethis.com has put together a search engine for VIN’s that will decode your VIN if it appears in their database. Currently VIN’s for 1953-1974 Corvettes are available, with more coming soon. The site is also accessible from mobile phones and PDA’s, so if say you are at a show or auction, just tap the VIN into their search and voila! Instant results! The site also decodes Mustangs, Camaros, Firebirds, Chryslers and more. When making any classic car purchase, knowledge is power. In today’s muscle car climate where imitators are cloning Corvettes faster than you can say Dolly, the VIN is where to start the documentation process. Source: Decodethis.com via Autoblog.com
Photo: CorvetteImages.com
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Five Factors That Drive Corvette Values – Options

by Keith Cornett on October 25, 2006

This is the third of our five-part series where we take an in depth look at the factors that drive Corvette values. Last week, we looked at the Quantity and Condition Factors. Today, our attention turns to Options. The options list on a model year can change the value of a Corvette considerably. As we discuss the Options Factor and how it relates to Corvette values, we must understand that this factor is very much affected by the Quantity factor. Everybody loves having options and some have more than others. But in the world of Classic Corvettes, he who has the rare options, wins. Why? Back then, a Corvette with more options cost more to build. Buying a Corvette in the 1960’s wasn’t like buying a Corvette today. Today, you can order a package that has a preselected amount of performance or convenience options. Many buyers couldn’t afford a loaded Corvette, and Chevrolet wasn’t building loaded Corvettes unless they were ordered that way. Some options were very expensive for the time and could significantly raise the price. For example, in 1967, the air conditioning option (RPO C60) cost an additional $412.90. Throw in a big block engine (RPO L71), heavy duty brakes(RPO J56), close-ratio transmission (RPO M20 or M21), a radio (RPO U69) and side-exhaust (RPO N14) and the price just went from a base of $4,388 to $6,000 – an increase of over 35%. Perhaps the main option that determines the value of a Corvette is the Engine option. Starting in 1957, Corvettes were optioned with a number of engines that are generally categorized as small blocks, big blocks and fuel injected. Currently, a 1967 with a 427 ci 435 hp engine can bring well over $100,000 while a small block 327 ci 300 hp model might be priced in the $40-$50,000 range. 1974 was the last year of the big block and in 1975, the number of options dropped to just two. Starting in 1984 with the introduction of the C4 generation, Corvettes came with just one engine. In 1996, the final year of the C4, a one year limited option was a choice between the LT1 (350 ci 300hp) and the LT4 (350 ci 330hp). It could be ordered in any of the 1996 Corvettes, so long as they had the 6-Speed manual transmission. Other important options are transmissions (auto or manual) and comforts such as Air Conditioning, Power Steering, Tilt/Tele Steering Wheel Columns and appearance options like Wheels or Side Exhaust. Because Corvettes were base priced without any real options, a buyer might have added just a couple which resulted in low penetration of many of the options we take for granted today. Going back to 1967 model year, Air Conditioning was ordered on just 16.5% of Corvettes built. Just 25% had Power Steering and only 10.5% opted for the Tilt Tele Steering Column. Sometimes a Corvette may have some extra value because of an option not included. Throughout the 60’s and 70’s, Corvettes were sold with an option that removed an option. Confused? Many cars destined for the race track didn’t need radios or heaters so options called the Radio Delete or Heater Delete were selected and the car was built without the radio or heater and the buyer received a credit. Exterior and Interior colors are also classified as an option and a Corvette with a rare color combination can add value to its price. Since 1954, Chevrolet has offered a variety of factory available exterior and interior colors. Because there are records that tell us how many Corvettes were manufactured with a given paint scheme, we can determine the rarity of the color. Having a popular color can also boost value. Red has always been a popular color for Corvettes, so much so that the phrase appears in song (Little Red Corvette) and as a title of book documenting the building of the C5 Corvette (All Corvettes Are Red). Some options are desired due to the inherent design of the model year as opposed to what was put on car. Consider the 1963 Corvette Coupe with its “Split Window” design. When built, Corvette’s Chief Engineer Zora Arkus-Duntov hated the design and argued about the limited visibility the split plane caused. As a result, the 1964 Coupe’s rear window was changed to just one single glass panel. Today, the 1963 Split Window is sought after for that option. Another type of Option is the Special Edition Corvettes. For the most part these are Corvettes that have an added package of options bundled together. The first special editions to be offered appeared in 1963 in the form of the Z06 which contained a 360 hp fuel injected engine, heavy duty brakes and the famous 36 gallon fuel tank. Perhaps the most famous and heavily collected special edition was the 1978 Indianapolis 500 Pace Car Replica. Chevrolet marked the occasion by building just over 6,500 Pace Cars, one for each Chevy dealer plus some extras. Public demand for these special corvettes was huge and many were purchased and then immediately placed in storage. It is not uncommon to see a 1978 Pace Car Corvette for sale with mileage in just the hundreds or low thousands. Chevrolet also marked milestones as special editions, again the first being the 25th Anniversary model produced in 1978. While all Corvettes were considered 25th Anniversary models, Chevrolet put together a special package of options, colors and special emblems. Anniversary models also include the 1988 Corvette (35th Anniversary) that was White, the 40th Anniversary Model which was a dark red called Ruby Red, and the 50th Anniversary Corvette in 2003 that was also Red (Anniversary Red). Other Special Editions included a package to commemorate the end of the three separate generations. In 1982 and 1996, Chevrolet produced a “Collector’s Edition”, again essentially a standard Corvette except for special paint and badges, and in 2004, a Commemorative Edition that was LeMans Blue and contained the first Carbon Fiber hood available on a production Corvette. A great source of learning about options that came on each Corvette Model is The Corvette Black Book by Michael Antonick. In the Black Book as it is commonly referred to, Michael breaks out the each of the available options with its RPO (Regular Production Option) code, the original option price and the quantity produced.

Big Block Motor Knock-off Wheel Option 1978 Indy Pace Car Replica
Stay tuned for our next installment in our Five Factors series: Originality The Five Factors that Drive Corvette Values:
Part One: Quantity
Part Two: Condition
Part Three: Options
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