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Buying & Selling

Corvettes Go Irish

by Keith Cornett on June 1, 2006

Corvette and Cadillac dealers have been appointed for 4 Irish cities including Dublin, Limerick, Galway and Waterford said Eddie Kavanagh, who is the Sales Director for Cadillac and Corvette Ireland. “These are two of the best know car brands worldwide and we are delighted to bring them to Irish motorists” said Kavanagh. The move continues GM’s expansion into foreign markets. Last month it was reported that GM was also considering setting up a sales distribution chain in Australia for Corvette. Source: Roscommon Herald
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2006 Corvette Model Year Ending

by Keith Cornett on May 21, 2006

The 2006 Corvette model year is wrapping up. The final day for dealers to access 2006 Corvette orders will be Tuesday, May 23rd. No additional 2006 orders may be accepted or changed after that date. Dealers should be receiving their final allocations of the 2006 model year. June 26 is slated to be the last production date of the 2006 model. 2007 Production orders are now being accepted. Click here to view the
2007 Corvette Ordering Guide (.pdf) Source: Ken Fichtner’s Newsletter

Barrett-Jackson Corvette Sales Top $6.5 Million

by Keith Cornett on April 3, 2006

83 Corvettes rolled across the auction block at the Barrett Jackson Palm Beach Spring Event last weekend bringing in a sales total just over $6.5 million dollars. A sales commission of 8% is factored into our totals as published at the Barrett-Jackson website. The highest selling Corvette was a 1967 Marina Blue 427/435 hp coupe with 33,780 documented miles. It sold for $259,200. Two other Corvettes also broke the $200k level. A Penant Blue 1954 Corvette sold for $237,600 and a 1958 Fuel Injected White/Silver convertible sold for $205.200. Complete Results:

Lot # Year Description Sales Price
389 1954 CHEVROLET CORVETTE CONVERTIBLE $70,200.00
645.1 1954 CHEVROLET CORVETTE CONVERTIBLE $92,880.00
648 1954 CHEVROLET CORVETTE CONVERTIBLE $83,160.00
652 1954 CHEVROLET CORVETTE CONVERTIBLE $237,600.00
374.1 1955 CHEVROLET CORVETTE CONVERTIBLE $60,480.00
401 1957 CHEVROLET CORVETTE FI CONVERTIBLE $162,000.00
662 1957 CHEVROLET CORVETTE CONVERTIBLE $96,120.00
369 1958 CHEVROLET CORVETTE CONVERTIBLE $153,360.00
713 1958 CHEVROLET CORVETTE FI CONVERTIBLE $205,200.00
718 1958 CHEVROLET CORVETTE CUSTOM CONVERTIBLE $103,680.00
669 1959 CHEVROLET CORVETTE CONVERTIBLE $87,480.00
698 1959 CHEVROLET CORVETTE CONVERTIBLE $84,240.00
365 1960 CHEVROLET CORVETTE CONVERTIBLE $66,960.00
735 1960 CHEVROLET CORVETTE FI CONVERTIBLE $172,800.00
692 1962 CHEVROLET CORVETTE CONVERTIBLE $91,800.00
719.1 1962 CHEVROLET CORVETTE FI CONVERTIBLE $137,160.00
78.1 1963 CHEVROLET CORVETTE 327/300 CONVERTIBLE $43,200.00
375.1 1963 CHEVROLET CORVETTE FI CONVERTIBLE $70,200.00
390 1963 CHEVROLET CORVETTE FI CONVERTIBLE $91,800.00
426 1963 CHEVROLET CORVETTE 327/350 CONVERTIBLE $39,960.00
675 1963 CHEVROLET CORVETTE FI CONVERTIBLE $60,480.00
679 1963 CHEVROLET CORVETTE 327/340 SPLIT WINDOW $72,360.00
701 1963 CHEVROLET CORVETTE FI CONVERTIBLE $79,920.00
734 1963 CHEVROLET CORVETTE RACECAR ZO6 CLONE $66,960.00
747 1963 CHEVROLET CORVETTE SPLIT WINDOW COUPE $64,800.00
351 1964 CHEVROLET CORVETTE 327/300 COUPE $55,080.00
368.1 1964 CHEVROLET CORVETTE STINGRAY COUPE $49,680.00
752 1964 CHEVROLET CORVETTE 327/300 COUPE $48,600.00
118.1 1965 CHEVROLET CORVETTE 327/300 COUPE $42,120.00
377 1965 CHEVROLET CORVETTE 327/350 COUPE $68,040.00
50 1966 CHEVROLET CORVETTE COUPE $43,200.00
67.1 1966 CHEVROLET CORVETTE 327 CONVERTIBLE $32,400.00
87 1966 CHEVROLET CORVETTE 327/350 CONVERTIBLE $44,820.00
362 1966 CHEVROLET CORVETTE 327/300 CONVERTIBLE $43,200.00
373.1 1966 CHEVROLET CORVETTE 327 CONVERTIBLE $57,240.00
379 1966 CHEVROLET CORVETTE 427/390 CONVERTIBLE $83,160.00
385.1 1966 CHEVROLET CORVETTE CONVERTIBLE $75,600.00
396 1966 CHEVROLET CORVETTE 427/425 CONVERTIBLE $108,000.00
406 1966 CHEVROLET CORVETTE 327/350 CONVERTIBLE $56,160.00
629 1966 CHEVROLET CORVETTE 327/300 CONVERTIBLE $50,760.00
630.1 1966 CHEVROLET CORVETTE 427 COUPE $64,800.00
635 1966 CHEVROLET CORVETTE CONVERTIBLE $103,680.00
637 1966 CHEVROLET CORVETTE CONVERTIBLE $79,920.00
655 1966 CHEVROLET CORVETTE 427/450 COUPE $156,600.00
707 1966 CHEVROLET CORVETTE 427/425 CONVERTIBLE $163,080.00
714 1966 CHEVROLET CORVETTE 427/450 CONVERTIBLE $140,400.00
382 1967 CHEVROLET CORVETTE 327/300 CONVERTIBLE $75,600.00
400 1967 CHEVROLET CORVETTE CONVERTIBLE STINGRAY $52,920.00
642.1 1967 CHEVROLET CORVETTE 427/435 CONVERTIBLE $99,360.00
653 1967 CHEVROLET CORVETTE 427/400 CONVERTIBLE $189,000.00
659.1 1967 CHEVROLET CORVETTE 427/435 COUPE $259,200.00
663 1967 CHEVROLET CORVETTE 427/400 COUPE $151,200.00
678 1967 CHEVROLET CORVETTE 327 CONVERTIBLE $75,600.00
687 1967 CHEVROLET CORVETTE 427/435 COUPE $154,440.00
690 1967 CHEVROLET CORVETTE 427/400 CONVERTIBLE $132,840.00
704.1 1967 CHEVROLET CORVETTE 427/390 CONVERTIBLE $124,200.00
711 1967 CHEVROLET CORVETTE 427/400 CONVERTIBLE $191,160.00
717 1967 CHEVROLET CORVETTE 427/435 CONVERTIBLE $113,400.00
745 1967 CHEVROLET CORVETTE 427/390 COUPE $48,600.00
672 1968 CHEVROLET CORVETTE 427/390 COUPE $52,380.00
330.1 1969 CHEVROLET CORVETTE COUPE $20,520.00
421 1969 CHEVROLET CORVETTE 427/390 COUPE $41,040.00
639 1969 CHEVROLET CORVETTE CONVERTIBLE $77,760.00
769 1969 CHEVROLET CORVETTE 427/390 CONVERTIBL $47,520.00
63.1 1971 CHEVROLET CORVETTE CONVERTIBLE $41,040.00
107 1971 CHEVROLET CORVETTE COUPE $39,420.00
313 1971 CHEVROLET CORVETTE CONVERTIBLE $23,220.00
56.1 1972 CHEVROLET CORVETTE CONVERTIBLE $30,780.00
132 1973 CHEVROLET CORVETTE COUPE $21,600.00
324 1978 CHEVROLET CORVETTE COUPE $32,400.00
327.1 1978 CHEVROLET CORVETTE PACE CAR COUPE $22,140.00
70 1982 CHEVROLET CORVETTE COLLECTOR EDITION $16,200.00
613.1 1982 CHEVROLET CORVETTE COUPE $22,680.00
439 1986 CHEVROLET CORVETTE PACE CAR CONVERTIBLE $22,140.00
425 1990 CHEVROLET CORVETTE ZR-1 $43,200.00
615.1 1990 CHEVROLET CORVETTE ZR-1 COUPE $30,240.00
756 1990 CHEVROLET CORVETTE ZR-1 COUPE $27,000.00
125 1991 CHEVROLET CORVETTE ZR-1 COUPE $32,400.00
330 1996 CHEVROLET CORVETTE CONVERTIBLE $20,520.00
613 1998 CHEVROLET CORVETTE INDY PACE CAR  $32,400.00
731 2000 CHEVROLET CORVETTE ROLEX 24HR PACE CAR $48,600.00
395 2002 CHEVROLET CORVETTE AVALATE CUSTOM SPLIT  $54,000.00
730 2003 CHEVROLET CORVETTE 50TH ANNIVERSARY  $26,460.00
    
Total Sales:$6,554,520.00
Source: Barrett-Jackson.com
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80 Corvettes At No Reserve

by Keith Cornett on March 30, 2006

Barrett Jackson’s 4th Annual Palm Beach Collector Car Auction begins today and once again the high profile event has attracted 80+ highly collectable Corvettes to be sold at no reserve. Included in the list of Corvettes is an NCRS Top Flight-winning white 1954 Corvette convertible with matching numbers and a 235 ci Blue Flame 6-cylinder engine. Click here to see the entire listing of Corvettes for Sale. The auction will be televised on SPEED with taped coverage beginning at 6pm today and tomorrow and live coverage happening most of Saturday, April 1st. Check back after the auction for an update on the selling prices.
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C5 Corvette Featured in MPH Rearview

by Keith Cornett on March 9, 2006

Jay Lamm at MPH-Online.com does a nice review of the C5 Corvette and what to look for when purchasing a pre-owned version of the American sports car icon. Jay (any relation to Michael Lamm at Corvette Enthusiast magazine?) does the C5 good as he delves into not only the performance and mechanics of the 1997-2004 Corvette, but into the psychology of “the lifestyle” that being a Corvette owner entails – or as he puts it “seriously anal whack-jobs.” Okay, well I resemble that remark, and you will too when you purchase your first Corvette! Read the MPH-Online.com Rearview C5 Corvette Article

Bob Lutz Reaches Out

by Keith Cornett on February 23, 2006

Bob Lutz, GM’s Vice Chairman, recently wrote on the GM FastLane Blog about the state of General Motors perception in the marketplace. The perception or misperception is that GM is producing vehicles nobody wants, or the vehicles they do produce are built at a lower quality than the imports. Bob blows those two perceptions out of the water with the examples of Corvette winning MotorWeek’s Driver’s Choice Award and Corvette winning the Intellichoice Best Overall Value Award. For those of us involved in the Corvette hobby, we know all about GM’s commitment to not only giving us the Car we want to own, but following through by giving us one of the best made cars with one of the highest customer satisfaction levels. So how does GM (and Chevrolet) do so well in marketing these two attributes to potential Corvette buyers, but not so well on their other vehicles? Obviously, Corvette has a history and therefore a built-in base of fans so it is a bit easier for Corvette designers and engineers to read the tea leaves when working on changes and upgrades. And when new Corvettes hit the marketplace, there are already long list of buyers who have deposits down to secure their car. GM needs to get its product in front of their target market in more non-traditional arenas. We recently posted a story about the Drive experience GM is putting together in Las Vegas where consumers can drive GM products in a controlled environment. I also remember they had similar “Drive A Chevy” experience that would roll into a market for a couple of days and you could drive all their products. I think that perhaps GM should take the product display a little further. At a local upscale mall I visited this weekend, I saw a display of Jaguars from the local Jag dealership. GM should consider putting Minivans and SUV in Grocery Stores and displays at some of the larger local youth sporting events. Truck displays at outdoor and sports trade shows. I know it sounds simplistic and perhaps a bit unrealistic, but go where the demographic market is. GM should also introduce a new extended warranty or key a portion of existing advertising to quality of product issues. With both Toyota and Ford are going Green, a new campaign could help differentiate how GM’s products are built with the consumer in mind. Again, I am just a guy that loves Corvettes and not a domestic auto marketing expert. But my car selling theory is that to sell product, you have to get it where your market is. Hope that helps, Bob.

Mecum’s Winter Classic Auction Results

by Keith Cornett on February 13, 2006

As we reported earlier, Mecum’s Winter Classic in Kissimmee Florida was a huge success given the fact the new location was 10 miles from the NCRS Winter Regional. That didn’t deter Corvette sellers and buyers from partaking in one of the largest Corvette and classic car auctions in the Southeast. Our review of Mecum’s auction results shows that a whopping 121 Corvettes sold for a total of $6.4 million and change. Mecum’s auction results aren’t the most descriptive in terms of body styles or engine options. Perhaps they can take a lesson from (dare I say) Barrett-Jackson’s results listings to give those who couldn’t attend the auction a better understanding of exactly what sold. Our friend Bob Kroupa from Vette-N-Vestments is at most of the major Corvette auctions and does breakout the models. You can get his report by subscribing to his monthly Corvette Market Letter, which can be purchased for $35 through the VetteFinders.com online store. Now that we got that shameless plug in there, here are the results from the Mecum Winter Classic held January 27-28th in Kissimmee Florida:

Year Model Color Sales Price
1954CorvetteMaroon$115,500
1954CorvetteWhite$58,538
1957CorvetteBlack$76,650
1958CorvetteRed$42,263
1959CorvetteBlack/Silver$63,000
1959CorvetteWhite$109,200
1961CorvetteMaroon$80,325
1961CorvetteRed$55,650
1961CorvetteBlue$65,888
1962CorvetteRed$42,000
1962CorvetteBlack$63,000
1962CorvetteRed$97,650
1962CorvetteMaroon$45,990
1963CorvetteBlue$33,600
1963CorvetteRed$81,375
1963CorvetteBlue$64,313
1963CorvetteWhite$89,250
1963Corvette (Z-06)Red$220,500
1964CorvetteRed$30,975
1964CorvetteWhite$33,600
1964CorvetteTan$52,500
1965CorvetteSilver$68,250
1965CorvetteRed$39,000
1965Corvette (L79)Silver$65,625
1965CorvetteBlue$79,800
1965CorvetteBlue$86,100
1966CorvetteBlue$55,650
1966CorvetteBlue$36,750
1966CorvetteRed$47,513
1966CorvetteRed$49,875
1966CorvetteRed$52,500
1966CorvetteRed$79,800
1966CorvetteRed$45,150
1966CorvetteMaroon$79,800
1967CorvetteSilver$58,275
1967CorvetteBlack$117,600
1967CorvetteSilver$48,300
1967CorvetteYellow$82,950
1967CorvetteBlue$50,400
1967CorvetteSilver$62,475
1967CorvetteMaroon$78,750
1967CorvetteWhite$43,575
1967CorvetteSilver$63,000
1967CorvetteMaroon$122,850
1967CorvetteBlue$46,200
1967CorvetteRed$141,750
1967CorvetteRed$120,750
1967CorvetteMaroon$111,300
1967CorvetteBlack$192,150
1967CorvetteMarina Blue$172,200
1967CorvetteMaroon$61,425
1967CorvetteBlue$105,000
1967CorvetteSilver$194,250
1967CorvetteYellow$112,350
1967CorvetteBlack$226,800
1968CorvetteBlue$33,600
1968CorvetteWhite$26,775
1968CorvetteRed$20,475
1969CorvetteBlue$11,550
1969CorvetteBlue$57,225
1969CorvetteDark Green$21,000
1969CorvetteBurgandy$31,500
1970CorvetteBlue$49,350
1970Corvette (LS-6)Black$99,750
1971CorvetteGreen$37,800
1971CorvetteBlue$26,250
1971CorvetteRed$30,450
1971CorvetteGreen$21,000
1971CorvetteGreen$24,150
1971CorvetteSilver$18,900
1971Corvette (LS-6)Silver$157,500
1972CorvetteBronze$28,088
1972CorvetteYellow$21,630
1972CorvetteRed$18,900
1972CorvetteOrange$14,700
1972CorvetteRed$16,065
1972CorvetteSteel Cities Gray$26,775
1972CorvetteRed$14,700
1972CorvetteOrange$33,075
1973CorvetteRed$15,750
1973CorvetteUnknown$20,475
1973CorvetteYellow$22,313
1973CorvetteBlue$27,825
1974CorvetteWhite$5,300
1974CorvetteYellow$52,500
1975CorvetteRed$19,950
1975CorvetteOrange$29,400
1977CorvetteOrange$15,435
1977CorvetteOrange$11,025
1978Corvette (L82)Black$25,988
1978CorvetteUnknown$39,900
1978Corvette (Pace Car)Black/Silver$28,613
1978Corvette (Pace Car)Black/Silver$31,500
1980CorvetteWhite$16,950
1980CorvetteBlack$26,250
1981CorvetteSilver$17,535
1982CorvetteSilver$27,825
1982CorvetteTri-Color$21,105
1985CorvetteRed$9,400
1986CorvetteRed$26,250
1986CorvetteRed$16,800
1987CorvetteBurgandy$12,338
1988CorvetteRed$17,588
1989CorvetteWhite$11,025
1990CorvetteGreen$17,850
1991Corvette (Callaway)Black$107,625
1992CorvetteRed$19,425
1992CorvetteWhite$9,000
1993CorvetteRed$17,588
1993CorvetteRed$39,375
1993Corvette (ZR-1)Red$47,775
1993CorvetteRuby Red$20,475
1993CorvetteMaroon$25,463
1994CorvetteWhite$14,963
1994CorvetteWhite$13,650
1995CorvetteWhite$19,163
1996Corvette (GrandSport)Blue/White$84,000
1998CorvetteRed/White$18,638
1998CorvetteBlue$31,500
1998CorvettePewter$13,230
2000CorvetteMaroon$31,500
    
  Total Sales:$6,441,398
Credit: Mecum Auctions

Is GM Cutting Dealer Z06 Allocations?

by Keith Cornett on January 31, 2006

From reading the various forum threads where dealers are known to post, it seems some are upset about the 2nd half allocation letters GM sent to its dealers last week. The letters project the total Z06′s Corvette dealers can expect to receive between February and May 2006. While it appears that the same number of Z06′s are being produced, GM may be cutting allocations from some of its dealers with more volume so that they can get Z06′s into the hands of some of their 3rd and 4th tier dealers. Due to the demand for the Z06, some dealers have reportedly marked up the Z06 $15,000-$20,000 over MSRP. Other dealers are taking orders for the 2007 model year and beyond. Looks like the buyer that wanted to “wait and buy it later in the model year and save a couple grand” is out of luck. Here is a copy of an allocation letter with the dealers information removed: ————– XXXXXX
XYZ Chevrolet
123 Main Street
Anywhere, ST XXXXX
Attention: Dealer Operator and New Car Sales Manager Subject: Corvette Z06 Allocation Projection The 2006 Corvette Z06 distribution plan includes the provision of an extended allocation projection to all eligible Corvette dealers. This is a projection and not a commitment but is intended to assist dealers in managing customer expectations in line with dealer allocation. While keeping in mind the realization that the Z06 will remain a limited production vehicle, we have been working diligently to increase Z06 production to maximize our ability to satisfy customer demand for this great automobile. As a result, production schedules were not formalized in time to allow us to provide this second extended allocation letter originally intended for publication in December. Your dealership’s projected Z06 allocation through May 2006 production appears below. Please keep in mind that this allocation projection is based on an estimated production schedule and therefore must continue to be considered as a projection and is not to be considered an absolute commitment. Your Z06 Estimated Allocations are: February March Est April Est May Est 2nd Outlook
Allocation Allocation Allocation Allocation Cum Total
# # # # # If a dealer chooses not to consent to their Z06 allocation, that allocation will be redistributed to another eligible dealer during the variance resolution and will not be rolled forward nor will it be converted to regular Corvette allocation. CORVETTE MARKETING TEAM Source: CorvetteForum.com | DigitalCorvettes.com

Barrett-Jackson: A Corvette Seller’s Paradise

by Keith Cornett on January 19, 2006

While some of the estimated 100+ Corvettes that will cross the Barrett-Jackson auction block during this week’s Scottsdale event are worth every penny of the high bids they will receive, many are not. Due to the shear amount of collector car money that is in Scottsdale this week, some Corvettes will go for prices no where near what they are worth, and that is the problem I have with this auction. I was expecting to see this sometime during this auction, but didn’t think it would be so obvious during the first day. Lot #70 is listed as a 1971 Chevrolet Corvette LS-5 Coupe. Here are the photos and description:

 
Nevada car, numbers matching, no rust, stock AM/FM, air conditioning, power steering, power brakes. SS disc brakes and lines, LS5 454/365 motor with roller rockers. Motor refreshed at 62,000 by John “Freight Train” Peters, a member of NHRA Hall of Fame, Jet-Hot coated headers, Micky Thompson valve cover, new radiator, M21 transmission, body stripped to glass and House of Kolor Candy Wild Cherry with silver base paint in September 2004, interior stock black vinyl, 5 new BF Goodrich TA tires, stock factory 3 piece side pipes, all new chrome and badges, all new weather stripping, new carpet and some new interior panels, new dash pad and clock. Factory build sheet. Selling price was listed as $54,000 (unofficially). Let’s look at the numbers. In 1971, there were 21,801 total Corvettes: 14,680 Coupes and 7,121 Convertibles. The LS-5 engine was selected by 5,097 buyers, that’s 23.4% of total production. The M21 4-speed transmission was selected by 2,387 buyers which made up 9.8% of production. Not what we consider a rare Corvette in terms of power plant and drive train. Other production numbers for this 1971 Coupe include factory air conditioning (11,481), Power Steering (17,904) and Power Brakes (13,588). The condition of this Corvette couldn’t even get you a Survivor award at Bloomington. Replaced valve covers and the non-original paint and color do nothing for collectablility. And take a look at the engine photo – other than the shiny air filter cover, the compartment is filthy. We place the value of this Corvette at $23,000. A $31,000 Barrett-Jackson difference. At some point this hot market we are in will correct itself and people who purchase these non-rare Corvettes at premium will be the ones holding the short end of the 4-speed stick shift. P.T. Barnum was famously quoted for saying “There’s a sucker born every minute.” Apparently in Scottsdale, they brought their checkbooks.

Corvette Breaks Sales Records

by Keith Cornett on January 13, 2006

There were 3,271 Corvettes sold in December which is an all-time Corvette record for December beating the December 1977 sales of 3259. Corvette had a 26.1% segment share up from 20.4% last year. R8C Museum Deliveries were at an all-time high for the month of December as well, with over 90 Corvette owners taking delivery as part of the program. General Motors also announced that European sales of Corvettes registered significant growth in 2005, achieving their best ever sales in Europe. With well over one thousand registrations, the sixth-generation Corvette more than tripled 2004 sales levels.

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