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Buying & Selling

6 Ways to Make the Most of your Classic Corvette Purchase

by Keith Cornett on August 21, 2007

Terry Michaelis of Proteam Corvette fame has a great article on his Corvette Perspective blog on why purchasing a classic Corvette is a good investment and he backs up his points with some real world numbers. Terry has bought more classic Corvettes last month than most of us will purchase in a lifetime and there is probably no other dealer that buys and sells the cream of the crop like Proteam. If you are more interested in Corvettes as an investment as opposed to a driver, then here are Terry’s points to consider when purchasing a Corvette:

1. Buy the best Corvette you can afford today
Because the Corvette you buy is the Corvette you’ll have or want to sell some day. 2. Buy cosmetics
Buy paint and chrome, unless you have a shop and knowledge to control your costs. 3. Research
Arm yourself with knowledge provided in the numerous Corvette publication and hire a true expert to examine your potential purchase. 4. Don’t trade off cosmetics for a numbers match drivetrain
It will always cost more to restore (paint, trim, chrome, etc.) a Corvette needing restoration versus putting the proper numbers motor back in your vehicle, if that’s your venue. Numbers have become secondary to cosmetics, and it’s about time. 5. Realize that Corvettes are old cars
They require more attention than that new Chevy or Ford setting in your driveway (especially if they aren’t taken for periodic (“work outs”). 6. Be a smart seller
High-profile events like the Barrett-Jackson and Mecum Muscle Car auctions will get you more money for your car than newspaper and trade publication advertisements. Plan ahead if you’re considering selling your baby: seek good lot numbers (pay a premium if you must) and baby-sit your car during the event to answer questions and show pride in your car – it is a reflection of you, and people simply pay more if they like the seller.
Terry provides an excellent analysis of today’s Corvette Market and why the demand for classic Corvettes is so high right now – a demand he says will only continue as baby boomers hit retirement and start spending that discretionary income. Click here to read The Corvette Market – Today.
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TMichaelis Corvette Perspective Related:
Five Factors That Drive Corvette Values – Options Technorati Tags:
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Official 2008 Corvette Pricing Announced

by Keith Cornett on June 18, 2007

Corvette Dealer Ken Fichtner posted the official pricing for the 2008 Corvette on the Corvette Forum. Prices listed include the three Corvette models: Coupe, Convertible and Z06 as well as the available options. Also listed is the new 4LT packages for coupes and convertibles which will set you back $8,005 and $8,600 respectively. The three Corvette models base prices were increased $920 for coupes and convertibles and $1,000 for the Z06. Considering the Coupes and Convertibles come with the new LS3 which adds 30 horsepower, I would say that is a bargain.

MODELS  
1YY07 Coupe $45,170.00
1YY67 Convertible $53,510.00
1YY86 Z06 $70,175.00
Destination Charge $825.00
   
PACKAGES  
2LT Package – Coupe $1,495.00
3LT Package – Coupe $4,505.00
4LT Package – Coupe $8,005.00
3LT Package – Convertible $5,100.00
4LT Package – Convertible $8,600.00
2LZ Package – Z06 Coupe $3,045.00
3LZ Package – Z06 Coupe $6,545.00
   
OPTIONS  
CC3 Transparent Roof Package $750.00
C2L Dual Roof Package $1,400.00
D30 Custom Color and Trim Combination $590.00
F55 Magnetic Selective Ride Control $1,995.00
GU2 2.73 Rear Axle Ratio $395.00
MX0 6 Speed Automatic with Paddle Shift $1,250.00
NPP Dual Mode Exhaust System $1,195.00
R8C Museum Delivery $490.00
U3U AM/FM CD with Navigation $1,750.00
Z51 Performance Handling Package $1,695.00
**6 Two Tone Seats with Embroidery $695.00
   
WHEELS  
QX1 Competition Gray Wheels – Coupe/Convertible $395.00
QX3 Chrome Wheels – Coupe/Convertible $1,850.00
QG7 Polished Wheels – Coupe/Convertible $1,295.00
Q44 Competition Gray Wheels – Z06 $395.00
Q76 Chrome Wheels – Z06 $1,995.00
QL9 Polished Wheels – Z06 $1,495.00
   
PREMIUM EXTERIOR COLORS  
45U Velocity Yellow Paint $750.00
83U Atomic Orange Metallic Paint $300.00
85U Jetstream Blue Metallic Paint $750.00
89U Crystal Red Metallic Paint $750.00

Source:
Corvette Forum Related:
GM Releases Official 2008 Corvette Information
Photo Gallery: The 2008 Chevrolet Corvette
Official 2007 Corvette Pricing Announced Technorati Tags:
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A Very Busy Week for Corvette Fans

by Keith Cornett on June 11, 2007

This week in June is unique as there are two major events that are going on that will appeal to different parts of the Corvette Enthusiast spectrum. The Bloomington Gold Corvette Show kicks of on June 14th and runs through the 17th at the Pheasant Run Resort in St. Charles, Illinois. Judging for the Survivor class begins at 1:00pm. On Friday, the show will be in full swing with Gold and Benchmark judging underway and of course our favorite event, the Gold Auction begins at 3:00pm. We will have our usual preview of significant or unique Corvettes that we feel are that will be the ones to watch as the week progresses. To follow the events online, visit the Bloomington Gold website. The second major event we are following this week is Corvette Racings defense of their 24 hours of LeMans crown. As you know, the first half of the ALMS season hasn’t been all that exciting due to the lack of a competitor in the GT1 class. But all that changes in France as 15 cars are entered in the GT1 class. The team has one five LeMans championships in the last six years and this week the team may be facing their greatest challenge. Qualifying for the 24 Hours of LeMans is Wednesday and Thursday. The Race kicks off for us in the United States on Saturday morning. As always, we will have updates following the progress of Team Corvette throughout the week. I’d like to also thank Richard Prince of Richard Prince Photography for supplying us with several new photographs that will serve as our header this week. You can see more of Richard’s work at www.rprincephoto.com.
Source:
Bloomington Gold
CorvetteRacing.com
www.rprincephoto.com Related:
LeMans Preview: Corvette Racing Fastest In GT1 Pre-Qualifying Technorati Tags:
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One of the most influential voices in the Corvette Collector market has recently started his own blog. Terry Michaelis, owner of ProTeam Corvette Sales has been posting for a month or so on tmichaelis.com, and already the blog contains some great information about buying classic Corvettes. His first blog post was actually in January following the sale of the Last Sting Ray at the Barrett-Jackson auction in Scottsdale. Funny thing, he posted the video of the sale that I captured and shared here on CorvetteBlogger.com A few years ago I was at the Winter auction in Kissimmee Florida when I noticed this guy wearing a ProTeam shirt. He was walking around a midyear Corvette that was second or third in line for the block. He had a cigar in his mouth and another 10 or so in his chest pocket. As he walked around the car, he ran his fingers along the outside wheel wells as his face maintained a sort of detached interest in the car. Yet you could tell that he was studying that Corvette hard. Right then I knew that this was a guy that knows Corvettes. A mutual friend of ours is Bob Kroupa from Vette-N-Vestments. Bob provides our yearly Corvette Pricing Guide as well as serves as our online Corvette appraiser at VetteFinders.com. Bob once said that facts that Terry carries around with him is staggering. He’s got all those numbers in his head and can tell in just a minute or two whether or not a Corvette is original. I’ve run into a Terry a couple of times since then, almost yearly at the Mecum auction held each January. He probably doesn’t remember me from Adam, but that’s all right. I always try to say hello. ProTeam is sometimes derided in the hobby but I’ve never fully understood why. Terry and his staff travel the country buying investment-quality Corvettes and selling them at a profit. A buyer of a ProTeam Corvette can be guaranteed a super clean original Corvette that will provide a decent return on investment. And when you got 150 or so of these classics under one roof, that says something. Whenever I see a new Corvette blog, I always try to say hi. It’s great that we are getting different viewpoints and the knowledge that Terry shares will make us all smarter when buying or selling Classic Corvettes. Stop by Terry’s blog and give him an online Corvette wave.
Related:
Barrett-Jackson: The Last Sting Ray Fetches $660,000 Technorati Tags:
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Sold on eBay: 6-Pack of Split Window Corvettes

by Keith Cornett on May 8, 2007

Collection of 6 1963 Split Window CorvettesSame old story. A guy amasses a collection of 1963 Corvette Coupes and stores them in a field for thirty frickin years. Finally he sells them all to a Corvette dealer who sells the entire lot on eBay. Despite the rambling and poor grammar in the ad, the six Corvettes sold Sunday for the winning bid of $140,000. The group of 63’s include Corvettes equipped with the following engines: Fuel Injected Original Numbers Matching
Air Conditioned Original Numbers Matching
340hp Black/Red Original Numbers Matching
300hp Silver/Red NOM
300hp Silver/Blue NOM
Wrecked body/frame The average price of $23,333 per car is in line with other recent project cars we’ve seen, considering you have at one end of the spectrum a matching numbers fuelie while at the other end you have, well, half a Corvette. And what’s up with that half-a-vette having a split window rear windshield and 1965-66 quarter panel? These cars took a lot of wear and tear while parked and getting them back is going to cost some dollars. With time and money anything can be restored.
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eBay.com Related:
Barn Find: 1968 Corvette Convertible Technorati Tags:
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April 2007 Corvette Sales

by Keith Cornett on May 2, 2007

April 2007 was the best month for 2007 Corvette sales this calendar year. Customers in April took delivery of 3,227 Corvettes. For the calendar year, January though April, GM has sold 11,403 Corvettes. For comparison, April 2006 saw 3,516 Corvettes delivered and January-April 2006 had sales of 12,808. With the introduction of the 2008 Corvette, with its refreshed interior and the new higher output LS3, it will be interested to see if 2007 Corvettes sales remain steady or fall off even more from their 2006 sales figures.

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%
February 2,784 3,058 -9.0% Jan-Feb 5,018 5,637 -11.0%
March 3,158 3,655 -16.7% Jan-Mar 8,176 9,292 -12.0%
April 3,227 3,516 -0.6% Jan-Apr 11,403 12,808 -11.0%

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GM.com Related:
March 2007 Corvette Sales Technorati Tags:
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First Quarter European Corvette Sales Grow

by Keith Cornett on April 10, 2007

Although the European Market is not all that large for Corvette in terms of volume, it is important for Corvette to continue to make inroads against the European cars it is constantly benchmarked against in their own backyard. First quarter sales of Corvettes continue to show that those inroads are being made. 348 Corvettes were sold by GM Europe in the first quarter of 2007. While year-to-year first quarter sales are up 5.5% with 18 more Corvettes sold this year than last year, year-to-year monthly sales for March 2007 slipped by 26 Corvettes with 162 sold in 2006 versus 136 in March 2007.
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GM.com Related:
March 2007 Corvette Sales Technorati Tags:
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March 2007 Corvette Sales

by Keith Cornett on April 3, 2007

GM sold 3,158 Corvettes in March 2007, making this the best month so far this year for Corvette sales. The figure was 374 units better than in February 2007, but well behind the 3,655 Corvettes sold in March 2006. For calendar year-to-date sales, 8,176 total Corvettes have been sold. Corvette sales are 12% off of what they were a year ago, with 1,116 more Corvettes sold from Jan-Mar 2006 vs Jan-Mar 2007.

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%
February 2,784 3,058 -9.0% Jan-Feb 5,018 5,637 -11.0%
March 3,158 3,655 -16.7% Jan-Mar 8,176 9,292 -12.0%

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GM Related:
February 2007 Corvette Sales Technorati Tags:
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Rick Conti with a Velocity Yellow Z06 CorvetteFinally the cat is out of the bag. Last week Corvette Conti announced that his site would be down over the weekend for an overhaul. Soon rumors began to swirl that the Corvette sales specialist was leaving Ohio for greener pastures. Tuesday morning, finally ending the “irresponsible speculation” that Corvette owners are apparently famous for, Rick confirmed that he has left Spitzer Chevrolet in Cleveland to join one of the largest Chevrolet dealers in the Midwest, EVS Chevrolet in Random Lake, Wisconsin. The fact that this story has fueled a thread at Digital Corvettes that is nine pages long with people offering well wishes and promises for future Corvette purchases only confirms something I have believed in for some time now. Rick Conti is a Rock Star! You know you’re doing something right when you generate that kind of positive response when your day job is that of a car salesman. But Rick doesn’t just sell cars. He’s sells the dream. He cures the fever by leading the customer on a journey into the Corvette experience. Doubt me? Just take a look at his previous office. EVS Chevrolet is currently a sponsor on the Corvette Forum. It will be interesting to see if EVS tries to maintain a presence on both forums or just concentrate on one. A quick check of their inventory shows 33 Corvettes available so they definitely have the volume. Conti is already making waves in Wisconsin with last night’s announcement that EVS will be offering a change to win a Velocity Yellow Z06 Corvette. So congratulations Rick on the new home. I’m looking forward to reading the new CorvetteConti.com!
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Digital Corvettes Related:
2007 Corvette Pace Car Allocation Info Technorati Tags:
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February 2007 Corvette Sales

by Keith Cornett on March 5, 2007

GM Sold 2,784 Corvettes in the month of February, 550 more than were sold the month prior. However, sales were -9% off the February 2006 mark of 3,058. For the 2007 calendar year to date, Corvette sales remain -11% off of the 2006 pace. 5,018 Corvettes have been delivered in 2007 compared with 5,637 Corvettes for 2006. Monthly Corvette Sales 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%
February 2,784 3,058 -9.0% Jan-Feb 5,018 5,637 -11.0%

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GM Related:
January 2007 Corvette Sales Technorati Tags:
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