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Buying & Selling

September 2006 Corvette Sales

by Keith Cornett on October 5, 2006

GM’s September 2006 Sales Report has been released and Corvette sales still remain strong. Calendar Year-to-Date sales are up 20.9% with 27,903 Corvettes delivered in 2006 vs 23,080 in 2005. Year to Year monthly sales are up 23.9% with 3,056 Corvettes sold in September 2006 vs 2,372 Corvettes in September 2005. There were 26 selling days for the September 2006 period vs 25 selling days in September 2005. Source: GM
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The Last Corvette to be Sold at Barrett-Jackson

by Keith Cornett on September 25, 2006

The Last Corvette This announcement is really no big news since the Last Corvette’s restoration was completed in January of this year. As anyone that knows anything about this car knows that the final stop is Scottsdale, Arizona. But for those that don’t know what the Last Corvette is, let me do a quick recap. The Last Corvette is a 1967 Corvette Coupe with a 427-390 hp engine and a 4-Speed transmission. The VIN, #22940 was the last Corvette produced of the 1967 model year production run and therefore the last of the 1963-1967 “Midyear” Corvettes produced at the St. Louis Corvette Assembly Plant on July 12, 1967. The Corvette has been on Pro Team’s radar since the mid 90′s, but it wasn’t until 2005 that a deal was reached to purchase the unrestored car for 10x’s the VIN: $229,240.00 Is the last of the 1967 Corvettes that big of a deal? Some say yes. Terry Michaelis of Pro Team Corvettes, who owns the Last Corvette is fond of saying “Sure they made Corvettes after 1967, but who cares” when promoting this Corvette. And according to Craig Jackson, President of the Barrett-Jackson Auction, “Being the absolute final car of a world-famous model makes this one of the most collectible cars in the world.” Well okay. I’ve never subscribed much to the theory that the end of a model run is worth more because it was the last. I can understand being first, but not last. Comparing apples to apples, is a 67 Coupe with a 427/390 worth more than a 1967 L88 or L89? And something else is bothering me about this Corvette. The whole process seems to me to be a slick marketing event put together by some very smart people for only one reason…to make money. A lot of money. I guess if you are putting $229,420 into a Corvette that needs a frame-off restoration, you need a plan to make that money back. I don’t hold that against Pro Team or anyone else associated with this Corvette. It will sure be interesting to see what this Corvette can do when compared to some real highly collectible Corvettes that should be available this year at Scottsdale. In defense of the Last Corvette’s publicity-hungry run-up to the auction at Barrett-Jackson, Pro Team has teamed up with two charities. The Ronald McDonald House and the Chip Miller Charitable Foundation will both benefit from the sale of the Last Corvette from matched donations, and in the case of the Ronald McDonald House, a Name the Final Bid contest. And finally, not to appear totally negative about the marketing machine that is the Last Corvette, there is one element to this unprecedented sales campaign that I am really interested in. Premiering on December 7, 2006 is a six part documentary which chronicles the Corvette’s history and restoration. That series will air on SPEED and is titled American Muscle Car: The Last Stingray. This is will be a real joy to watch as the production quality should be extremely high and the companies that donated time and service are the tops of the Corvette industry including Naber’s Motors in Texas where the frame-off restoration was completed. More information about the Last Corvette can be found at TheLastCorvette.com
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Know Your Corvettes Before Buying

by Keith Cornett on September 21, 2006

1970 Corvette ConvertibleSo you want to buy a Corvette and you have a general idea of the Corvette generation you are interested in. Now it is time to narrow your choice. By narrowing your choices to one, two or a span of three model years, you can gain the knowledge you need prior to purchasing the Corvette of your dreams. Focusing in on that one to three year model span will allow you to make an informed buying decision. You don’t want to be blinded by the first Corvette you see. You’ll want to look beyond the style and paint to insure that you’re buying the right corvette with the right options that is right for you. Corvettes, like most cars, are always changing year to year. Sometimes those changes are design based, sometimes regulatory based. I had a customer who was once looking for a 1970 to 1972 LT1 engine car. He had heard that the LT1′s are more of a performance engine and liked the idea of having a Corvette that would appreciate faster if it had that optional engine. What he didn’t know was that the 1970 LT1 engine was very different than the 1972 LT1. In 1970, the LT1 350 ci engine produced 370 horsepower. In 1972, Chevrolet had lowered the compression and changed their formula for rating horsepower so the LT1 350 that year was reduced to 255 hp. In many respects, these two engines are similar, yet very different. Learning these subtle differences can assure you that you are buying the Corvette you want and not making a mistake that could end up costing you money later on. A great resource that every Corvette buyer needs is the Corvette Black Book by Michael Antonick. The Black Book breaks out each model year with options available, colors and a Fact Sheet which gives the major bullets of changes and enhancements over the previous model year. Here are some other resources for learning about the model year you have selected: Corvette Shows
Go to a Corvette show and talk to owners. Corvette owners love to talk about their cars and usually are very forthcoming about what they like and don’t like about their model year. They can also fill you in on any hidden problems or service issues that may have affected their model over the years. Most of the major shows also have auctions or a “Corvette Corral” where sellers display their Corvettes. It’s a great opportunity to get some hands-on experience of looking over models you are interested in. To find out where a Corvette show is in your area, keep reading. Go Online
Websites like the CorvetteForum.com and DigitalCorvettes.com are made up of thousands of Corvette Enthusiasts. These sites contain message boards and membership to join is quick and free. After registering, go to the generation “thread” (conversation) you are interested in to post questions you may have about your selected model year. Depending on your questions, you can generally have feedback within hours of your post. You can also learn a great deal just by lurking in the forum, reading all the different questions or comments from other owners. These forum sites are a great way to learn more about the Corvette lifestyle, restoring and modifying your selected year as well as finding out when a Corvette show may be in your area. NCRS
The National Corvette Restorers Society (NCRS) is an organization that is dedicated to the restoration and preservation of Corvettes made from 1953-1989. NCRS hosts a number of local and regional events around the country. Classic Corvette owners bring their Corvettes to these shows to be judged for the organization’s Top Flight Award, given to Corvettes that appear as they did when they rolled off the assembly line and dealer showroom floors. Seeing these Corvettes up close as well as having the ability to talk to current owners is a great way to learn more about specific Corvette models. The NCRS also has for sale on their website a number of restoration, technical and judging manuals which will help you in identifying the components of classic Corvettes. Corvette Magazines
Most of the major Corvette magazines have a service for ordering back issues, Using their index of issues, you will be able to find features and technical articles on the model year of your choice. After immersing yourself in Corvette Hobby, you’ll find yourself being able to spot the differences in the Corvettes you see on the road. Once you learned more about the model year(s) you would be interested in owning, then you can really start your search for your dream Corvette.
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Auction Results: Corvettes at Carlisle High Bid List

by Keith Cornett on September 12, 2006

The following is a list of Corvettes that were featured in the Corvettes at Carlisle auction that did not reach the reserve selling price. There are two Corvettes on the list that I’d be interested in knowing more about. The first is a 1967 Maroon Corvette that received a high bid of $220,000. Not out the the range for an L71 427/435 Tri-Power, but I am betting it’s something else. The second is a 1971 Orange Corvette that reached $95,000 and was still a no sale. As that high bid was nearly $40,000 more than our High Price for 1971 Corvettes in this year’s edition of the Vette-N-Vestments Corvette Price Guide, I am betting it was either a ZR1 (8 produced) or the ZR2 (12 produced). Because of their limited production, several years can pass between the time we see these rare Corvettes for sale. If anyone has any information on these two Corvettes, please let me know. Corvettes at Carlisle – The High Bid List:

Lot # Year Description Color High Bid
S32.11955CHEVROLET CORVETTEWHITE$70,000
S221958CHEVROLET CORVETTEBLK / SLVR$45,000
S47.11958CHEVROLET CORVETTERED$96,000
S571958CHEVROLET CORVETTERED$45,000
S601958CHEVROLET CORVETTERED$53,000
S801958CHEVROLET CORVETTEWHITE$52,000
F361960CHEVROLET CORVETTEWHITE$55,000
S5131960CHEVROLET CORVETTEBLACK$75,000
S281961CHEVROLET CORVETTEBLACK$58,000
S507.11961CHEVROLET CORVETTERED$46,000
S411962CHEVROLET CORVETTEWHITE$42,000
S731962CHEVROLET CORVETTERED$47,000
S5031962CHEVROLET CORVETTEWHITE$74,000
S681963CHEVROLET CORVETTERED$36,000
F391964CHEVROLET CORVETTERED$33,000
S851964CHEVROLET CORVETTERED$38,000
S861964CHEVROLET CORVETTEBLUE$26,500
S1131964CHEVROLET CORVETTERED$40,000
S641965CHEVROLET CORVETTEMAROON$72,500
S5151965CHEVROLET CORVETTEWHITE$70,000
S511966CHEVROLET CORVETTEYELLOW$49,000
S561966CHEVROLET CORVETTESILVER$50,000
S811966CHEVROLET CORVETTEMAROON$80,000
S5101966CHEVROLET CORVETTEMAROON$81,000
F411967CHEVROLET CORVETTERED$69,000
S201967CHEVROLET CORVETTEMAROON$95,000
S271967CHEVROLET CORVETTEGREEN$46,500
S291967CHEVROLET CORVETTEMAROON$115,000
S451967CHEVROLET CORVETTEMAROON$62,000
S841967CHEVROLET CORVETTEMAROON$59,000
S1021967CHEVROLET CORVETTEBLACK$120,000
S1081967CHEVROLET CORVETTEGREEN$135,000
S5041967CHEVROLET CORVETTEMAROON$220,000
S5111967CHEVROLET CORVETTERED$69,000
F401968CHEVROLET CORVETTEBLUE$20,500
S5211968CHEVROLET CORVETTEGREEN$75,000
S71969CHEVROLET CORVETTEBLUE$33,000
S421969CHEVROLET CORVETTEYELLOW$26,000
S441969CHEVROLET CORVETTERED$29,500
S621969CHEVROLET CORVETTERED$29,500
S1091969CHEVROLET CORVETTEYELLOW$60,000
F311970CHEVROLET CORVETTEGREEN$17,000
F701970CHEVROLET CORVETTEBRONZE$31,000
S791970CHEVROLET CORVETTEBURGANDY$35,000
S1011970CHEVROLET CORVETTEGREEN$11,000
S1071970CHEVROLET CORVETTERED$8,500
S91971CHEVROLET CORVETTEBLACK$21,000
S5191971CHEVROLET CORVETTEORANGE$95,000
F291972CHEVROLET CORVETTEBLUE$24,000
S301972CHEVROLET CORVETTEBLUE$26,000
S401972CHEVROLET CORVETTEYELLOW$29,000
S9.11973CHEVROLET CORVETTEYELLOW$17,000
S501973CHEVROLET CORVETTEGREEN$30,000
S1001973CHEVROLET CORVETTESILVER$8,500
S1161973CHEVROLET CORVETTERED$9,500
S81976CHEVROLET CORVETTEWHITE$10,500
S671978CHEVROLET CORVETTEBLK / SLVR$23,000
S1031979CHEVROLET CORVETTERED$8,000
S951980CHEVROLET CORVETTEWHITE$5,800
S831982CHEVROLET CORVETTEBEIGE$26,500
S781987CHEVROLET CORVETTEBURGANDY$27,000
S1151987CHEVROLET CORVETTEDARK RED$22,000
S1061988CHEVROLET CORVETTEBLUE$22,000
S1051990CHEVROLET CORVETTEWHITE$6,500
S1121990CHEVROLET CORVETTEBURGUNDY$23,000
S761993CHEVROLET CORVETTETURQ$7,900
F551994CHEVROLET CORVETTEBLACK$29,000
F521996CHEVROLET CORVETTERED$13,000
S691996CHEVROLET CORVETTEBLUE$39,000
S191999CHEVROLET CORVETTERED$25,000
F372002CHEVROLET CORVETTESILVER$30,000
S982003CHEVROLET CORVETTEYELLOW$29,000
Source: Mecum Collector Car Auctioneers
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Auction Results: Corvettes at Carlisle

by Keith Cornett on September 11, 2006

Pennsylvania was the place to be in late August as Corvettes converged on the fairgrounds at Carlisle for the annual Corvettes at Carlisle show. Mecum handled the auction duties and once again the show proved to be one of the top Corvette auctions in the United States. Over 150 Corvettes crossed the auction block and the show had a 53% sales rate raking in over $3 million in Corvettes sales. Looking at the list of Corvettes that sold, it is nice to see the values of these sales weren’t astronomical and based on pricing only, it appears that there were some pretty decent deals. Of notable cars, three 1954′s were auctioned off for $46K, $69K and $70K. A couple other C1′s sold for under $40,000 including a Black 59 that sold for $35,963 and a maroon 1962 which sold for $38,325. Other good buys include a 1964 Corvette at $29,400, a Yellow 1966 which sold for $28,350 and 1969 Corvette that went for $9,500. Here is the complete list of Corvettes that sold during the Corvettes at Carlisle auction:

Lot # Year Description Color Sales Price
S541954CHEVROLET CORVETTEBLUE$69,300
S871954CHEVROLET CORVETTEWHITE$70,875
S5201954CHEVROLET CORVETTEWHITE$46,725
S551956CHEVROLET CORVETTEWHITE$48,400
S5091956CHEVROLET CORVETTERED$78,225
S331957CHEVROLET CORVETTEGREEN$118,125
S1111957CHEVROLET CORVETTEBLACK$58,800
S321958CHEVROLET CORVETTEWHITE$60,900
F471959CHEVROLET CORVETTEBLUE$35,963
S161959CHEVROLET CORVETTEBLACK$63,000
S261959CHEVROLET CORVETTERED$48,300
S701961CHEVROLET CORVETTEBLACK$55,650
S721961CHEVROLET CORVETTEWHITE$65,100
S241962CHEVROLET CORVETTEMAROON$38,325
F211963CHEVROLET CORVETTERED$34,650
F301963CHEVROLET CORVETTEBLACK$46,463
S5161963CHEVROLET CORVETTERED$70,875
S521964CHEVROLET CORVETTERED$29,400
S5181964CHEVROLET CORVETTERED$52,500
S311965CHEVROLET CORVETTERED$56,700
S381965CHEVROLET CORVETTENASSAU BLUE$40,688
F251966CHEVROLET CORVETTEMAROON$70,350
F261966CHEVROLET CORVETTEYELLOW$28,350
F491966CHEVROLET CORVETTEMAROON$41,475
S41966CHEVROLET CORVETTEBLUE$35,700
S36.11966CHEVROLET CORVETTEYELLOW$73,500
S481966CHEVROLET CORVETTERALLY RED$46,725
S651966CHEVROLET CORVETTEMAROON$58,800
S5011966CHEVROLET CORVETTEWHITE$52,500
S5051966CHEVROLET CORVETTEYELLOW$76,650
S5141966CHEVROLET CORVETTERED$76,125
F681967CHEVROLET CORVETTEBLUE$53,550
S171967CHEVROLET CORVETTEMAROON$58,800
S431967CHEVROLET CORVETTEMAROON$54,600
S611967CHEVROLET CORVETTERED$81,900
S5071967CHEVROLET CORVETTESILVER$122,325
S5171967CHEVROLET CORVETTEBLUE$110,000
S991968CHEVROLET CORVETTERED$18,113
F581969CHEVROLET CORVETTEBLACK$15,750
F601969CHEVROLET CORVETTEBLUE$9,500
S141969CHEVROLET CORVETTEBLUE$15,225
S181969CHEVROLET CORVETTEBLACK$34,650
S251969CHEVROLET CORVETTERED$13,650
S391969CHEVROLET CORVETTEBLACK$46,200
S741969CHEVROLET CORVETTEBLACK$31,500
S211970CHEVROLET CORVETTEGRAY$18,900
S231970CHEVROLET CORVETTEWHITE$27,825
S751970CHEVROLET CORVETTE LT-1 BRONZE$43,050
S5021970CHEVROLET CORVETTEMONZA RED$55,125
S341971CHEVROLET CORVETTEGREEN$36,225
S361971CHEVROLET CORVETTEORANGE$17,063
F561972CHEVROLET CORVETTERED$17,325
S461972CHEVROLET CORVETTEBLUE$35,700
S531972CHEVROLET CORVETTEBLUE$17,850
F141973CHEVROLET CORVETTERED$10,710
F321973CHEVROLET CORVETTEBLUE$21,000
F431973CHEVROLET CORVETTERED$6,900
S40.11973CHEVROLET CORVETTEYELLOW$15,750
F51974CHEVROLET CORVETTEGREEN$7,000
F81974CHEVROLET CORVETTERED$9,500
F591974CHEVROLET CORVETTETORCH RED$10,868
S1101974CHEVROLET CORVETTEBLACK$4,700
F271975CHEVROLET CORVETTEBLUE$12,338
S771976CHEVROLET CORVETTEWHITE$7,500
F501977CHEVROLET CORVETTEWHITE$5,550
S31978CHEVROLET CORVETTEYELLOW$6,500
S111982CHEVROLET CORVETTEGREEN$18,375
S50.11984CHEVROLET CORVETTEBLUE$11,025
S891985CHEVROLET CORVETTERED$6,700
S941986CHEVROLET CORVETTEGOLD$4,800
F671990CHEVROLET CORVETTEWHITE$7,100
S661990CHEVROLET CORVETTEGREEN$28,875
S821990CHEVROLET CORVETTE ZR-1 BLACK$24,675
S961990CHEVROLET CORVETTEWHITE$16,800
S1041990CHEVROLET CORVETTE ZR-1 RED$19,950
F571992CHEVROLET CORVETTERED$12,810
F331993CHEVROLET CORVETTERED$17,063
F531993CHEVROLET CORVETTEWHITE$11,025
F481994CHEVROLET CORVETTEBLACK$8,750
S972000CHEVROLET CORVETTEGREEN$24,200
F352002CHEVROLET CORVETTETORCH RED$31,930
S1142004CHEVROLET CORVETTEBLACK$38,063
Tomorrow, we will post the list of the Corvettes which did not sell. Source: Mecum Collector Car Auctioneers
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August 2006 Corvette Sales

by Keith Cornett on September 2, 2006

GM’s August sales report hit yesterday and the news regarding Corvettes was good. GM reported that calendar year Corvette sales are up 20% with 24,847 delivers through August 2006 vs 20,708 through August 2005. Year to year monthly sales were up nearly 31% with 2,990 delivers in Augutst 2006 vs 2,202 in August 2005. There were twenty-seven selling days for the August period this year and twenty-six for last year. Source: GM
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Corvettes at Carlisle Show This Weekend

by Keith Cornett on August 25, 2006

One of the largest gatherings of Corvettes in the US takes place this weekend at the Corvettes at Carlisle show in Carlisle, PA. The three day show at the 82 acre fairgrounds in Carlisle brings together more than 5,000 Corvettes, including over 2,500 Corvettes in the show field alone. The show was founded by the late Chip Miller, a Corvette Hall of Famer, 25 years ago. At noon, Corvette owners will rev their Corvettes for 20 seconds, followed by a moment of silence in tribute of Chip. Highlights of the show will include a gathering of the 1996 Grand Sport Corvettes, celebrating their 10th year reunion, a 50th reunion for 1956 Corvettes and a special area designated to Z06 Corvettes. Tom Wallace and his team of Corvette engineers will be on hand. This is Tom’s first visit to Carlisle. Thousands of Corvettes also participate in the parade that leaves from the fairgrounds and makes it way through downtown Carlisle. If you are anywhere near Pennsylvania and the surrounding area, this Corvette show is a must. Admission is $12 for adults and parking for Corvettes is $10. CorvetteBlogger.com will bring you the results from the Mecum Auction when they are available. Source: Corvettes at Carlisle
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Carlisle Auction Preview: 1966 Corvette Convertible

by Keith Cornett on August 20, 2006

1966 CorvetteCorvettes at Carlisle and the Mecum auction will be the center of the Corvette universe for the next 7 days. This auction is traditionally one of the largest Corvette auctions of the year. Last week, we featured a Triple Black 1969 Convertible. Our second featured Corvette that’s available at the Carlisle Auction is this beautiful Milano Maroon 1966 Corvette: 1966 Chevrolet Corvette Convertible – Lot #S65 Same owner for 32 years, has owner history. Original/Numbers Matching, Restoration completed in June 2006, all receipts. New paint, carpet, interior, 90% all original. 327/350 HP original (Block 38581747) L-79 FT227HT 112715. Style 66 467, trim st, body A-3834, paint 988 Milano Maroon. Original Muncie 4 speed, close ratio, M-21, 3:70 posi rear (AO), alternator (110069). Original 2 ½” cast factory headers, brand new factory original Holley Carb (3367A), Original factory teakwood steering wheel, AM-FM working original radio with power antenna. Factory side exhaust, gold line tires, Original factory hubcaps, New soft top. 57,947 Miles. Original jack and spare tire and original Owners Manual. Again, it is our second feature Corvette to not have a big block, but this Corvette is a great entry car for the new collector or someone wanting a turnkey midyear. Fully documented, longtime ownership and an optional motor all work in favor of this classic. We place an expected range of this Corvette to be a good buy between $48,000 and $55,000. One year appreciation levels for the 66 Convertible are running just under 5%. The Mecum auction at Corvettes of Carlisle runs August 25-26th in Carlisle, PA. Source: Mecum Collector Car Auctioneers
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Carlisle Auction Preview: 1969 Corvette Convertible

by Keith Cornett on August 14, 2006

1969 CorvetteWe may be a bit premature in talking about Corvettes at Carlisle and the Mecum auction held that same weekend as the events are still two weeks away. But we just can’t resist a good old fashion Corvette auction. We are a bit disappointed/concerned/shocked to see that the current auction list is only two pages long – totaling just over 50 Corvettes. We’re hoping to see more Corvettes added soon to this very important and historically well-attended auction. Turning our attention to the current list, we see several gems that can’t be overlooked. We now bring you the first in a series of featured Corvettes available at Corvettes of Carlisle August 25-26th in Carlisle, PA: 1969 Chevrolet Corvette Convertible – Lot # S39 Triple Black! Tuxedo Black exterior, Black Leather Interior and Black canvas convertible top. 4 speed, side exhaust, hard top, AM/FM radio, tinted glass, leather trim, redline tires, positraction and fender trim. This Corvette is powered by the 350 ci/300 hp base engine and with a frame off restoration has loads of curb appeal. Auctions aren’t just for big blocks and the 1969′s are quickly becoming the new highly sought-after classic. This could be a good opportunity to get in at a very reasonable price. Our appreciation figures for the 1969 Convertible are an impressive 8% year to year growth. Source: Mecum Collector Car Auctioneers
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July 2006 Corvette Sales

by Keith Cornett on August 2, 2006

GM Reported that Corvette sales were up 55% year to year with 2,794 deliveries in July 2006 vs 1,872 in July 2005. Calendar year sales also remain 18.1% ahead of 2005 figures with 21,857 deliveries vs 18,506. Sales of Corvettes in July tend to be smaller than other months because of the model year change over. There were 25 selling days recorded for July 2006 while in July 2005, there were 26 selling days. Source: GM
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