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Corvette Values

Appreciating Corvettes: Top 12 Price Gainers of 2006

by Keith Cornett on February 7, 2007

Corvette continues with another great year that ended on December 31, 2006. The new models continued to impress the consumers with media recognition and numerous awards. In the Corvette resale arena, once again our concept of “Vette-N-Vestments” continued to move up the model years with positive results in average price. As shown in our 2007 Corvette Price Guide, positive results convey through the third generation Corvettes, 1953-1982. The fourth generation Corvettes, 1984-1996, there are 30 of the 38 models showing no change or positive results in resale value appreciation. The good news continues with the fifth generation Corvettes, 1997-2004 with three models showing positive results and two reflecting no change compared to none in this classification one year ago.

TOP APPRECIATION MODELS
Year Model % Change Average Price
1968 T-Top 17% $19,500
1973 T-Top 16% $13,900
1954 Roadster 15% $50,600
1971 T-Top 15% $19,500
1971 Roadster 15% $23,500
1963 Roadster 13% $36,000
1970 T-Top 13% $21,300
1958 Roadster 12% $46,200
1962 Roadster 12% $45,000
1965 Coupe 12% $38,300
1965 Roadster 12% $40,200
1966 Roadster 12% $44,000
Once again we have identified the top Corvettes from an average price appreciation perspective. We had previously called this our “Top Ten” Chart, however, it has now been increased to TWELVE based on five models showing an appreciation of 12%. Of interest is the generation spread on the “Top 12 Appreciation Chart”. The chart covers three generations of Corvettes with the results rather evenly spread among them. Most likely the reason for new arrivals on the chart is that the Corvette enthusiast, both new and old, have realized they can be the proud owner of a Corvette regardless of price, year or body style. It is quite apparent that pre-1984 models continue to appreciate. Many of today’s buyers do not have the funds to step up to the 1953-1967 models so they are “investing” in the 1968-1982 models with many of these showing appreciation levels comparable to the S&P Stock Market Index. Should there be a market correction in the near future, these owners will still know they have the satisfaction of driving their investment. 1968 T-Top CorvetteHeading the top of the average appreciation chart is the 1968 Corvette T-Top at 17% average appreciation over a year ago. The 1968 T-Top has made our “Top Ten” list for the past three years. The two year appreciation factor for this model was 31% and the five year growth was at 63% – certainly better than the market in almost any regard. Adding to the interest in the 1968 T-Top is the long list of optional motors available, including the very collectable L- 88, 427/430 of which only 80 units were built. Close behind is the L-89 with the aluminum heads for the 427/435 motor. Only 624 of these were built. One may wonder why the 1969 model did not make the top appreciation list this year since it is virtually the same body style as the 1968 models along with the same motor options. Historically, buyers initially stayed away from the 1968 model year in part due to the numerous engineering changes/modifications that were incorporated into the 1969 model year. That is changing. In recent years we had noted a run-up in 1969 model year prices and these prices stabilized this year, so no record appreciation growth for the 1969 models in 2006. 1973 T-Top CorvetteThe number two appreciation spot was somewhat of a surprise showing the 1973 T-Top at 16%. Evidently the new front bumper treatment that makes the 1973 model unique coupled with its traditional rear chrome bumpers and new front end had not been a problem for consumers in the recent resale market. This model still remains priced at $5,000 below its T-Top predecessors.
1954 Corvette RoadsterHolding down third position was one of the early models, a 1954 Roadster, always a classic. For a number of years, the appreciation factor of this model was at a minimum. Our 2004 and 2005 Price Guides showed the average price for the 1954 Roadster to be in the mid to upper thirties. One year ago it made the top ten list showing a 12% appreciation factor at $43,900. This year it has broken the $50,000 threshold at $50,600. With the 1953 “look-alike” selling at an average price of over $100,000, the 1954 model, available in a number of rare colors, has whet the appetite of first generation enthusiasts. 1971 T-Top CorvetteThe appreciation chart continues with the 1971 T-Top and Roadster along with the 1970 T-Top. Again the collectability and appreciation factor of the early models of the third generation Corvette is being realized by the consumer, consequently the average resale price is being driven to record levels. The word on the street is, “if it has a chrome bumper, buy it!”
1958 Corvette RoadsterAnother perennial contender on the appreciation chart is the 1958 Corvette with its unique, one year only, louvered hood and dual chrome strip on the trunk lid. When introduced, the media had mixed emotions on the new body style. It was a ‘love it’ or ‘hate it’ affair. Today it seems the Corvette enthusiast is more interested in ‘love’.
1962 Corvette RoadsterThe 1962 Corvette, last of the solid axle Corvettes, reappears on the appreciation chart. The last year mystic of its generation was instrumental in its appearance on the list again this year. Evidently the same desire shown the 1967 model in the mid-year generation is bringing buyers to the 1962 model, last of its generation. Speaking of mid-years, the appreciation chart closes out with three of these classics represented. These models have been under-priced when compared to the 1967 models. They too, offer several high performance motors and rare options to entice buyers in the resale market. Tomorrow, we’ll post our list of Corvettes with the highest depreciation. The 2007 Corvette Price Guide contains data from the sales of over 5,800 Corvettes from last year to give us the High, Low, and Average prices of all Corvette model years and body styles. The guide also contains appreciation and depreciation figures for One, Two and Five years, as well as pricing for options including motors, wheels and A/C. Available now for $20 through the VetteFinders.com online store. Shipping is now free.
Source:
VetteFinders.com
Data Provided by Vette-N-Vestments Related:
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VetteFinders.com Releases Annual Corvette Price Guide

by Keith Cornett on February 6, 2007

2007 Corvette Price GuideOur Corvette classifieds website VetteFinders.com has released the annual Corvette Pricing Guide and later this week, I will be posting an analysis of the Corvette Pricing Trends from 2006 on CorvetteBlogger.com. This year marks the 7th annual release of Corvette pricing data and it remains a feature unique to VetteFinders.com in the online Corvette classified’s arena. The 2007 Corvette Price Guide contains data from the sales of over 5,800 Corvettes from last year to give us the High, Low, and Average prices of all Corvette model years and body styles. The guide also contains appreciation and depreciation figures for One, Two and Five years, as well as pricing for options including motors, wheels and A/C. The online version features the average prices of over 115 different Corvette models spanning 1953-2007. The printed version, which contains High/Low and Average prices as well as appreciation/depreciation percentages is available for $20 and can be purchased through the VetteFinders.com online store. Shipping is now free. The top appreciation gainers include the 1968 T-Top Corvette, which grew in value over 2005’s prices by 17% and the 1973 T-Top Corvette, whose prices averaged 16% over the previous year. The 1968 T-Top has made our “Top Ten” list for the past three years. The two year appreciation factor for this model was 31% and the five year growth was at 63% – certainly better than the market in almost any regard. The number two appreciation spot was somewhat of a surprise showing the 1973 T-Top at 16%. Evidently the new front bumper treatment that makes the 1973 model unique coupled with its traditional rear chrome bumpers and new front end had not been a problem for consumers in the recent resale market. This model still remains priced at $5,000 below its T-Top predecessors. We’ll have more on the top models from both an appreciation and depreciation perspective later this week. Data from the price guide comes from analyzing the selling prices of over 5,800 Corvettes during 2006 and then comparing the sales figures to years prior. That method has proven to be a statistically accurate measure of the Corvette Market. Bob Kroupa of Vette-N-Vestments, is the data provider for the annual guide and publisher of the monthly Corvette Market Letter. Regarding this year’s analysis, Bob said “In the Corvette resale arena, once again our concept of “Vette-N-Vestments” continued to move up the model years with positive results in average price. In fact, all models from 1953-1982 show positive growth in values over the previous year.”
Source:
VetteFinders.com
Data Provided by Vette-N-Vestments Related:
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KBB (Unofficially) Names Z06 Corvette Best Resale Value

by Keith Cornett on December 1, 2006

2007 Z06 CorvetteKelley Blue Book released their list of vehicles with the best resale value for 2007. The 2006 Corvette made last year’s list but unfortunately gave its spot away this year to the likes of the Mini Cooper (both hatchback and convertible) and the Pontiac Solstice. And while I don’t usually like to tell people how to do their jobs, it would make sense for this list to have a sports car category. However, reading through the KBB survey I was elated when I came across this statement:

Kelley Blue Book’s Best Resale Value Awards exclude expensive, high-performance, low-volume vehicles, because of the program’s emphasis on serving the typical consumer. The No. 1 vehicle would have been the 2007 Corvette ZO6, holding the greatest percentage of its original value after a five-year ownership period.
The Z06′s limited production (about 6,000/year) and somewhat higher price probably got her left off this list. Had that not been a consideration, our favorite super car would not have only made the list, it would have been number 1. Source: Kelly Blue Book
Image” CorvetteImages.com
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Five Factors That Drive Corvette Values – Condition

by Keith Cornett on October 17, 2006

This is the second of our five-part series where we take an in depth look at the factors that drive Corvette values. Yesterday, we looked at the Quantity Factor. Today, our attention turns to Condition. Like any used car, pricing and valuations are based on the Corvette’s present condition at the time of the sale. Many like to use the 1 to 5 scale with 1 or C1 (Condition 1) being excellent, show quality and 5 or C5 (Condition 5) being a project car that is usually not running or unassembled in some fashion. Pricing between these points on the scale can vary wildly so it is important to know what your chosen Corvette model can be purchased for at any point on the condition scale. Most of the price guides will give you an idea as to what the price should be along each point of the scale or at the very least, a High, Low and Average figure. Corvettes that have been restored are generally classified as excellent, show condition. They are usually a 1 or 2 on the Condition Scale. There are usually two types of restorations. Frame-off or Body-off restorations refer to the car being completely torn down with all components and body panels removed from the frame, and then reassembled. A Body-On restoration refers to a Corvette that may have had as complete a restoration as possible without removing the body panels from the frame. Some Corvettes may have been restored several years prior and are sometimes referred to as an older restoration. These Corvettes may be a 2 or even a 3 on the Condition Scale. Then there are the Corvettes have been so well taken care of, that restoration may not be needed. At the Bloomington Gold Corvette Show, a separate class called Survivor was created for these unrestored, original Corvettes. While a Survivor Corvette may not be as polished as a restored Corvette, make no mistake that the condition of a Survivor Corvette’s value based on condition may just as well make it as valuable as that of one that has recently went through a frame-off restoration. Lastly, there is the Project Corvette. Oh yes, the project car, with all its potential and a seductively low price that can lure you in and trap you. Unless you are experienced in the mechanical and body issues that a project Corvette will have, as well as having the budget, you are best advised to leave these examples to the professionals. Many times you’ll be looking at Corvettes for sale and come across an ad for a “freshly restored” model, but the price seems to be thousands more than Corvettes in similar condition. This pricing anomaly could be the result of someone who got into a project and ended up spending way more than Corvette is worth. On Wednesday, our attention turns to Options. The Five Factors that Drive Corvette Values:
Part One: Quantity
Part Two: Condition
Part Three: Options

Five Factors That Drive Corvette Values – Quantity

by Keith Cornett on October 16, 2006

This is the first of our five-part series where we take an in depth look at the factors that drive Corvette values. So what drives the values of Corvettes? Much like any other automobile, Corvette values are based on a number of factors including quantity produced, condition of the car, options, originality and market forces. To arrive at an approximation of price or value, these five factors are combined and those with the best combinations rise to the top of the pricing matrix. All of this is common sense really. Take a low production car in top condition, that contains desirable options, is a documented original and then add demand and you get a highly valued Corvette. The first factor that drives Corvette values is Quantity. Corvettes were never really produced in mass like other vehicles. Sure it seems there’s a lot of Corvettes on the road, but only 1.4 million Corvettes have been made since 1953. Looking at the Total Corvette Production Chart, you can see how production rises and falls throughout the years. Chevrolet broke the 10,000 units per year mark in 1960, the 8th year of production for Corvettes, and by 1963 had moved past 20,000 units per year. In the late Seventies and early Eighties, Chevrolet was averaging 40,000 Corvettes yearly. Production then fell during the early Nineties to the 20,000 level but rose again to average in the mid 30,000’s for the C5 and C6 generations. Many Corvettes were produced in such limited number that price is high due to the limited quantity available. In 1953, the first year of the Corvette, 300 were produced, but because availability is so low, we don’t see these Corvettes for sale all that often. Vette-N-Vestments tracked the sale of just two 1953 Corvettes in all of 2005, with sales of said year averaging over $100,000. In 1979, nearly 50,000 Corvettes were produced and because such a large quantity exists, decent cars can be found for $6,000 and up. The Quantity Factor is also impacted by the production of various body styles. Looking at our previous example of the 1979 Corvette, only one model was offered that year, the T-Top Coupe. In 1963, Chevrolet offered buyers a choice between a coupe and a convertible, and production between the two models was split nearly 50-50. But because the 1963 Coupe model was the first and only year with the famous “Split-Window” design, and because only 10,594 were built, the 63 Coupe is worth more due to its limited availability. However, just because one year’s production total is lower doesn’t always make it more valuable than same models in similar years. In 1997, the first of the C5 Corvette, only 9,752 Corvettes were produced. Examples of these Corvettes can be found in the $15,000-$20,000 range and even though they are the first year of the C5 generation and produced in limited quantity, they still lead the C5 category in depreciation.

Total Corvette Production Statistics 1963 Corvette Split-Window Coupe 1979 Corvette T-Top Coupe
That leads us to the next factor we’ll cover on Tuesday: Condition. The Five Factors that Drive Corvette Values:
Part One: Quantity
Part Two: Condition
Part Three: Options

Coming Monday: Five Factors That Drive Corvette Prices

by Keith Cornett on October 13, 2006

On Monday, October 16th, we will be kicking off a five-part series entitled “The Five Factors That Drive Corvette Prices”. This in depth look at Corvette pricing and valuations will run through Friday, October 20th. Here is a preview:

What drives the values of Corvettes? Much like any other automobile, Corvette values are based on a number of factors including quantity produced, condition of the car, options, originality and market forces.
See you on Monday!
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Corvette Values: 1976 Corvette T-Top

by Keith Cornett on September 13, 2006

MT in Colorado recently submitted this 1976 Corvette for an Online Appraisal at VetteFinders.com: 1976 T-Top Corvette, VIN #1237L6S437xxx. Red with Red vinyl interior, original 350 ci with 4-speed, 135K miles. Power steering, brakes, windows. Factory air, tilt-tele steering column. Original luggage rack. All original and non modified. Never restored. Corvette is in average, street driven condition. No documentation.

1976 Corvette 1976 Corvette 1976 Corvette
The VIN on this 1976 Corvette, #1237L6S437xxx indicates that this Corvette was built in early June 1976, which was towards the end of the production run for 1976 model year. The VIN also tells us that the Corvette is equipped with the L48 350 ci 195 hp engine as the sixth digit of the VIN is L. The Corvette is Red with matching Red vinyl interior. Both the paint and interior are considered to be in average street driven condition. The Red on Red combination does present an attractive profile and a Red Corvette, always a popular color choice, can help with the resale value. The engine is an original L-48 350 ci/180 hp power plant coupled with a 4-speed manual transmission and the original shifter. The manual transmission can be considered somewhat rare with only 21% of 1976 Corvettes built with the optional 4-speed. From an options perspective, this Corvette is equipped with many of the comfort and convenience features available including power steering, brakes and windows. Other conveniences include air conditioning and a tilt-tele steering column. This Corvette also has the dealer-installed chrome luggage rack. The tires are in like-new condition and are mounted on the standard Corvette wheels with the correct center caps and trim rings. The body is stock with no modifications. This is important in establishing the value of a Corvette. The appraised value of this Corvette is $8,900. This model year continues to appreciate with a 3% appreciation factor in average price during the past year. Corvette Appraisals:
With Corvette values rising yearly, make sure your insurance coverage keeps up with your Corvettes value by having it appraised online at VetteFinders.com. Our online appraisals are only $69.95 and are usually completed within three business days. Click here to start your Corvette appraisal now.
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Corvette Values: 1982 Corvette

by Keith Cornett on July 28, 2006

1982 CorvetteSissyChrissy posted the following question on Yahoo Answers: This guy is trying to sell me a 1982 Corvette Stingray. Brand new candy paint job, brand new motor, golden rims,leather interior, everything in excellent condition. The thing is, I don’t know how much a car like that is actually worth. He says he paid $16,000 for it and is not going to settle for anything less. Is he trying to rip me off or is he being reasonable? Our Answer: 1982 was a good year for Corvettes. It was the end of a body style that began in 1968. Just over 25,000 Corvettes were produced that year, nearly 15,000-20,000 less than an in previous years which means there’s less of them on the road. It was also the first year of the Cross Fire Injection engine. Our Corvette Price Guide has the average 1982 Corvette valued at $11,900, and our high price is $24,500. These models are also appreciating in value with a 7% return in 1 year and 14% over 5 years. While the Corvette you are looking at sounds like it is in great condition, its value is lessened by having a brand new engine instead of the original engine. At $16K, if the Corvette is as in good shape as you described, the price, while reasonable, is somewhat high due to the fact that it is missing its original engine. That might make it harder to sell down the road. Source: Yahoo Answers
Image: CorvetteImages.com
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Corvette Values: 1977 Corvette

by Keith Cornett on July 8, 2006

Shawn S. submitted the following Corvette pricing question via Yahoo! Answers and we decided to take a look at it. Shawn’s Question: What is a 1977 corvette worth? Our Answer: Our Corvette price guide has an average 1977 Corvette Coupe valued at $10,000. Our High price is $13,000. Prices are fairly low compared to other years because the 1977 Corvette had the third highest production total ever with 49,213 produced. Most 1977 Corvettes came with the base engine, the L48 350/180. Just over 6,000 Corvettes came equipped with the optional L82 350/220 engine and just over 2000 came equipped with the optional 4-speed. So of the 1977 Corvettes, the most valuable was the L82 coupled with the 4-Speed manual transmission. The good news is that our appreciation figures for the 1977 model are 5% for one year and a whopping 19% over five years. Source: VetteFinders.com’s Corvette Price Guide
Image: CorvetteImages.com
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Corvette Values: 1969 Corvette Convertible

by Keith Cornett on June 28, 2006

FM of Tampa, FL submitted the following 1969 Corvette Convertible to Corvette Values

1969 Corvette Convertible. VIN 1974679S7284XX. 350 ci 300 hp original motor with 4 speed transmission. Power Brakes, Steering Windows and Factory Air. Speed Warning, Posi, Radio Delete. Can-Am White with Saddle vinyl interior. Engine and rear suspension have been restored and mechanicals are in excellent condition. Paint is poor and fiberglass is in good condition. 10,944 original miles. No documentation, but owner history is known.
The VIN number 1974679S7284XX indicates this Corvette was built late in the 1969 production year, September 1969, assuring the owner that engineering modifications and changes made during the production year were included in this Corvette. The odometer reads 10,944 miles and the owner states this is the original mileage confirmed by documented original owner history. Original owner history is instrumental in determining the value of a Corvette. It has the original Can-Am White paint that is in “below average” condition. The chrome bumpers are in average street driven condition. The interior is Saddle vinyl and is in good condition as is the interior carpeting. The White Convertible Top is in good condition, also. This 1969 Corvette is powered by the original base 350-300 motor that is matched with the original 4-speed manual transmission. The mechanicals of this Corvette have been rebuilt, a necessary procedure since the Corvette was not driven for prolonged periods of time as substantiated by the low mileage. In its current condition, it can be an award winner in the Bloomington Gold Survivor classification, thus adding to the value of the Corvette. A number of desirable options are included in this 1969 Corvette, specifically, power steering, brakes, windows and air conditioning. Less than one-third of the 1969 model year Corvettes had the air conditioning option. This Vette also has the speed warning option, a very rare option with less than 10% of the buyers ordering it. The appraised value of this Corvette is $28,000. Of interest is the appreciation factor that indicates during the past year the average resale price of a 1969 Corvette increased by 8%. The popularity of this model will continue to reflect an appreciation factor of 10% per year. Submissions:
Send your submissions to info@CorvetteBlogger.com with “Corvette Values” in the subject line. We can’t answer them all, but if we find your Corvette interesting to both us and our visitors, we may use it. Feel free to submit a photo as well.
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