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Appreciating Corvettes: Top 12 Price Gainers of 2007

by Keith Cornett on February 20, 2008

1996 Corvette Grand Sport Roadster

The 2007 ‘Corvette’ calendar was quite interesting in many ways. We particularly noted record prices for quality, documented first and second generation Corvettes. More and more of these models have been restored and brought to market, many with NCRS certification and Bloomington Gold Awards in tow. These vehicles continue to sell at top dollar while those termed in ‘average’ condition are showing somewhat positive results, however not in the double digit appreciation results we have see over the past few years.

Rare low production numbered Vettes continue to sell at record prices including late models. A classic example is the 1996 Grand Sport holding the #2 spot on our appreciation chart.

Data from the Corvette Price Guide comes from analyzing the selling prices of over 5,800 Corvettes during 2007 and then comparing the sales figures to years prior. That method has proven to be a statistically accurate measure of the Corvette Market.

Top Appreciation Models
Year Make % Change Average Price
1953 Roadster 192% $316,250
1996 GS Roadster 50% $65,000
1955 Roadster 38% $81,000
1954 Roadster 30% $65,750
1963 Coupe 19% $49,900
1969 T-Top 17% $23,600
1996 GS Coupe 14% $38,200
1958 Roadster 13% $52,000
1969 Roadster 12% $27,900
1956 Roadster 11% $54,500
1967 Roadster 11% $58,200
1971 Roadster 11% $26,000

More analysis of the Top 12 appreciating Corvettes after the jump.

The 1953 Corvette has shown astronomical results and was the hot ticket during 2007. Normally one or two surface each year, however, several were sold during the year at record prices.

The same holds true for the 1996 Grand Sport, a limited production Corvette made up of 190 Roadster and 810 Coupes. We noted a number sold with mileage numbers under the 300 mark.

The 1955 Corvette, another low production Corvette with only 700 built holds down the number three spot on the chart.

Much to our surprise, the 1954 model is caught up in the 1953 Corvette hype and has become a ‘tag-along’. However, in defense of the 1954 Roadster’s appreciation, we note that it does offer three rare factory paint colors, Black, Red and Blue.

The popularity of the first generation continues with the unique body panels and trim of the 1958.

The 1956 model, which follows in the Top Ten sequence for appreciation, was the first to offer an eight cylinder motor coupled with a manual transmission.

Two mid-year Corvettes are listed on the chart as well, the 1963 Coupe had been undervalued in recent years even though the split-window continues to draw special attention to this Corvette.

The mid-year icon, the 1967 Roadster, also makes a repeat appearance on this list. When one mentions mid-year Corvettes those words are usually followed by, “is or was it a 1967 Corvette”.

Three third generation Corvettes are on the chart and moving up in value. Many of the buyers recognize they cannot afford first and second generation Corvettes and are purchasing chrome bumper Corvettes that have numerous motor options and continued appreciation results.

Order the 2008 Corvette Price Guide

2008 Corvette Price GuideThe 2008 Corvette Price Guide covers all Corvette years and body styles with high, low and average prices for each Corvette model. Another important feature of the Price Guide is the provisional one, two and five year appreciation factors for each Corvette.

In addition, the Corvette Price Guide provides the original base price and the number of units manufactured. To complete the content, included is information on motors, wheels, hard tops and factory air conditioning. Price is $15 and shipping is free!

Bob Kroupa of VETTE-N-VESTMENTS provided this analysis of 2007′s top price gainers. VETTE-N-VESTMENTS is the data provider for the annual guide and publisher of the monthly Corvette Market Letter.


Source:
VetteFinders.com
Data Provided by Vette-N-Vestments

Related:
2008 Corvette Price Guide: 1953 Corvette Values up 192%
Appreciating Corvettes: Top 12 Price Gainers of 2006

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2008 Corvette Price Guide: 1953 Corvette Values up 192%

by Keith Cornett on February 19, 2008

2008 Corvette Price GuideOur Corvette classifieds website VetteFinders.com brings us the annual VETTE-N-VESTMENTS Corvette Pricing Guide and later this week, I will be posting an analysis of the Corvette Pricing Trends from 2007 on CorvetteBlogger.com. This year marks the 8th annual release of Corvette pricing data and it remains a feature unique to VetteFinders.com in the online Corvette classified’s arena.

The 2008 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 free online version features the average prices of over 120 different Corvette models spanning 1953-2008. The printed version, which contains High/Low and Average prices as well as appreciation/depreciation percentages is available for $15 and can be purchased through the VetteFinders.com online store. Shipping is free.

The top appreciation gainers were led by the 1953 Corvette which clocked in at 192%. The first-year Corvette has shown astronomical results and was the hot ticket during 2007. Normally one or two surface however several were sold during the year at record prices. The same holds true for the 1996 Grand Sport, a limited production Corvette made up of 190 Roadsters (+50%) and 810 Coupes (+14%). The 1955 Corvette, another low production Corvette with only 700 built holds down the number three spot on the chart at 38%. Two mid-year Corvettes are listed on the chart as well, the 1963 Coupe and the 1967 Roadster. Three third generation Corvettes are on the chart and moving up in value. Many of the buyers recognize they cannot afford first and second generation Corvettes and are purchasing chrome bumper Corvettes that have numerous motor options and continued appreciation results.

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 2007 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.


Source:
VetteFinders.com
Data Provided by Vette-N-Vestments

Related:
Video: Matched Set of 1953/2003 Corvettes sell for $390,500
Auction Results: [VIDEO] 1953 Corvette Sold for $261,800
Gathering Pricing Knowledge

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Friday’s Featured Corvettes for Sale

by Keith Cornett on February 15, 2008

Here we go with another round of Friday’s Featured Corvettes for Sale from VetteFinders.com, the original online Corvette classified ads website. The beautiful C1-C6 examples you see here are just a sample of the 500+ Corvettes available now. Want to learn more? Click on the photo or link to read the full ad, view more photos and contact the seller.

1960 Corvette Convertible For Sale 1964 Corvette Convertible For Sale 1970 Corvette Coupe For Sale
1960 Convertible
$51,995
1964 Convertible
$39,900
1970 Coupe
$49,900
 
1994 Corvette Convertible For Sale 2003 Corvette Hardtop For Sale 2008 Corvette Convertible For Sale
1994 Convertible
$16,900
2003 Z06 Hardtop
$35,995
2008 Coupe
$47,982

Selling Your Corvette? Now is the time and VetteFinders.com is the place to reach more qualified Corvette Buyers. Corvette Classified Ads are only $25 and run for 3 months. You can post unlimited photos and you have access to make any changes at any time.


Source:
VetteFinders.com

Related:
2/1/08: Featured Corvettes for Sale at VetteFinders.com

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Corvette Values: 1966 Convertible Project Car

by Keith Cornett on February 12, 2008

1966 Corvette Convertible Project Car

One of the most frequent questions we are asked is about the pricing of project Corvettes. These are cars defined as non-running and in many cases they may contain damage and rust to the body and frame. Placing a valuation on a project car is done for the most part just as you would do a running Corvette: determining the condition, options and documentation. However, emphasis should be placed on the condition of the Corvette as well as surveying the car’s current components and determining what, if any parts may be missing. And of course the question you should always ask whether the Corvette is a project or NCRS Top Flight is about documentation, because a project car with documentation will always be more valuable than one without.

Having said that, we were contacted by KR in Kansas who inquired about the value of his 1966 Corvette Convertible that hasn’t run in over 15 years.

1966 Corvette Convertible, VIN 194676S113XXX. Nassau Blue with black vinyl interior. 4-speed transmission. The Corvette has a replacement, non matching numbers 327-300 hp block with the original engines heads, intake and carburetor. 61,553 miles are shown on the car. The engine hasn’t run since 1993. The body has several problem areas. Clock is missing but most other parts are either still on the car or stored with it. No documentation.

Find out how we valued this Corvette after the jump.

The VIN # indicates it was built in February 1966, midway through the production year. The mileage of 61,553 is stated as correct by the owner of the vehicle.

This 1966 Roadster is Nassau Blue in color and the paint can be considered as being “marginal.” The fiberglass body panels need minor repair in several areas, however, they have not been modified.

The frame of the Corvette has surface rust partially due to not being driven and sitting in a non-heated storage facility since 1979.

The bumpers and wheel covers are original, but not on the vehicle. The tires definitely need replacing.

This Corvette Roadster is powered by a non-original 327-300 motor. The original motor threw a rod through the side of the block. The replacement motor has the original heads, intake manifold and carburetor from the original motor. The original radiator was removed but is available. The engine has not been run since 1993. It is coupled with a 4-speed manual transmission with the correct shifter.

The interior of this 1966 Roadster is the standard Black vinyl. The instrument panel is missing the clock and will require minor repairs. The door panels and seats can be considered in acceptable condition.

This 1966 Corvette Roadster has the optional removable hardtop that is in place.

Bottom Line: The Corvette will take a considerable amount of work to become roadworthy. In addition to the motor not running and the radiator not being in place, the brakes will need to be completely redone as well as the electricals.

As this 1966 Corvette Roadster sits today, we place a value of $20,000 on it. In today’s market, one in average condition will command a price in the mid-forty’s.


Source:
VetteFinders.com Corvette Appraisals

Related:
When a Matching Numbers Corvette is Anything But…

1970 LT-1 Corvette Convertible

Mecum’s High Performance Auction came to Kissimmee in January and put on a great auction despite an occasional shower or two on Saturday. The three day auction racked up $15 million in total car sales with Corvettes bringing in just under $4.5 million. Of the 162 Corvettes offered, 102 changed hands giving the Kissimmee auction a 63.3% sales percentage for Corvette.

The top selling Corvette was the #112 1953 Corvette I documented in this auction video. The first-year Corvette was sold to Proteam for $249,900. A Silver/Black 1967 Corvette Convertible with a L71 427 ci 435 hp engine was second on the Corvette sales list with a selling price of $188,000. This Corvette featured Silver Pearl paint with black interior and a black stinger hood. The Corvette is documented with its original tank sticker, Corvette Owner’s Manual, Owner Protection Plan booklet and has a Bloomington Gold Certificate and two Top Flights Awards from the NCRS.

One of my favorite Corvettes that made the sold column (and is pictured above) was a 1970 LT1 Convertible with just 9,174 original miles. The Corvette was purchased new in 1970 by Jose Ramirez. Jose seldom drove it and stopped driving the Corvette altogether in 1979 because it wasn’t running properly. In 2006 it was discovered that the plug wires had been installed incorrectly. The Corvette sat in his driveway from 1979 until 1992. At some point, a tree limb fell on the nose damaging both headlight doors. The city of Galesburg, IL requested Jose move the car due to their derelict auto ordinance. When he did not, the city had the Corvette towed (the tow trick driver had to use a chainsaw to free the Vette from the tree limb). Jose then chose to pay $200 per month for the next 14 years to have it stored indoors. It was untouched there until he passed away in 2006. The car was sold to Proteam Corvette for $72,450.

The complete Corvette sales results from Mecum’s Kissimmee auction are after the jump.

Lot Year Description Sales Price
S1091953Chevrolet Corvette$249,900.00
F11957Chevrolet Corvette$72,450.00
S1621957Chevrolet Corvette$74,550.00
F130.11961Chevrolet Corvette$59,850.00
F2871961Chevrolet Corvette$55,650.00
S1491961Chevrolet Corvette$90,300.00
S1851961Chevrolet Corvette$91,875.00
S2161961Chevrolet Corvette$59,850.00
S60.11961Chevrolet Corvette$88,000.00
F511962Chevrolet Corvette$46,200.00
F269.11963Chevrolet Corvette$49,875.00
S1241963Chevrolet Corvette$97,650.00
S1361963Chevrolet Corvette$79,275.00
S641963Chevrolet Corvette$48,500.00
S85.11963Chevrolet Corvette$83,000.00
F1181964Chevrolet Corvette$37,275.00
F47.11964Chevrolet Corvette$30,450.00
F1771965Chevrolet Corvette$58,275.00
F212.11965Chevrolet Corvette$48,300.00
F991965Chevrolet Corvette$61,950.00
S1051965Chevrolet Corvette$61,950.00
S1171965Chevrolet Corvette$91,350.00
F1421966Chevrolet Corvette$65,625.00
F1741966Chevrolet Corvette$61,950.00
F2161966Chevrolet Corvette$44,630.00
F2861966Chevrolet Corvette$29,925.00
S1341966Chevrolet Corvette$108,150.00
S1391966Chevrolet Corvette$99,750.00
S187.11966Chevrolet Corvette$52,000.00
S2211966Chevrolet Corvette$80,000.00
S421966Chevrolet Corvette$47,250.00
S45.11966Chevrolet Corvette$74,550.00
S461966Chevrolet Corvette$69,825.00
T1401966Chevrolet Corvette$64,100.00
F1701967Chevrolet Corvette$52,500.00
S1351967Chevrolet Corvette$188,000.00
S1561967Chevrolet Corvette$136,500.00
S2111967Chevrolet Corvette$135,450.00
S431967Chevrolet Corvette$63,000.00
S781967Chevrolet Corvette$63,000.00
F671968Chevrolet Corvette$24,675.00
S1801968Chevrolet Corvette$54,600.00
T1371968Chevrolet Corvette$33,600.00
S1891969Chevrolet Corvette$78,750.00
S1921969Chevrolet Corvette$29,925.00
S341969Chevrolet Corvette$39,375.00
S1141970Chevrolet Corvette$72,450.00
S681970Chevrolet Corvette$32,550.00
S731970Chevrolet Corvette$35,700.00
U601970Chevrolet Corvette$15,000.00
F1251971Chevrolet Corvette$38,850.00
F2121971Chevrolet Corvette$23,625.00
F521971Chevrolet Corvette$27,825.00
S271971Chevrolet Corvette$45,150.00
S321971Chevrolet Corvette$42,250.00
S571971Chevrolet Corvette$26,250.00
T1041971Chevrolet Corvette$22,050.00
T1431971Chevrolet Corvette$29,400.00
T1101972Chevrolet Corvette$26,775.00
F1931973Chevrolet Corvette$18,900.00
S311973Chevrolet Corvette$25,988.00
F141974Chevrolet Corvette$18,000.00
F601974Chevrolet Corvette$19,950.00
F991974Chevrolet Corvette$24,675.00
T1411974Chevrolet Corvette$33,600.00
T231975Chevrolet Corvette$22,575.00
F81976Chevrolet Corvette$11,813.00
U31.11976Chevrolet Corvette$11,250.00
F551977Chevrolet Corvette$12,863.00
F1631978Chevrolet Corvette$30,450.00
F1811978Chevrolet Corvette$23,100.00
F1871978Chevrolet Corvette$16,538.00
F40.11978Chevrolet Corvette$11,288.00
S261978Chevrolet Corvette$23,100.00
T1821978Chevrolet Corvette$21,000.00
F481979Chevrolet Corvette$24,150.00
F871979Chevrolet Corvette$7,750.00
F881979Chevrolet Corvette$10,763.00
T1761979Chevrolet Corvette$8,700.00
F3081980Chevrolet Corvette$24,150.00
F561980Chevrolet Corvette$16,800.00
F1861981Chevrolet Corvette$17,588.00
U481981Chevrolet Corvette$9,750.00
F30.11982Chevrolet Corvette$9,500.00
T1691982Chevrolet Corvette$15,750.00
T271985Chevrolet Corvette$5,550.00
F2991987Chevrolet Corvette$6,000.00
S1.11987Chevrolet Corvette$6,700.00
T431987Chevrolet Corvette$12,338.00
F2831990Chevrolet Corvette$17,000.00
T1831990Chevrolet Corvette$19,425.00
S91991Chevrolet Corvette$10,000.00
F2731992Chevrolet Corvette$11,000.00
T391993Chevrolet Corvette$9,500.00
T711993Chevrolet Corvette$11,025.00
T741994Chevrolet Corvette$11,025.00
S1641995Chevrolet Corvette$29,925.00
T1781996Chevrolet Corvette$12,350.00
T1391997Chevrolet Corvette$20,475.00
T941997Chevrolet Corvette$16,500.00
F462000Chevrolet Corvette$24,150.00
F352004Chevrolet Corvette$32,550.00
 
Total Sales: $4,496,984.00


Source:
Mecum Collector Car Auctioneers

Related:
Auction Results: [VIDEO] 1953 Corvette Sold for $261,800

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NCM Auctioning Unique Zora Collectible Hot Wheel Corvette

by Keith Cornett on February 7, 2008

Zora Hot Wheels CollectibleThe National Corvette Museum’s eBay auctions are a great way to donate well-needed funds to the museum while getting the parts you need for your Corvette, but occasionally they throw a neat collectible up there as is the case this week. For those of you into collecting die-casts and miniature Corvettes, the NCM is offering a Hot Wheels Hall of Fame Legends Corvette that was created as part of the commemorative 35th anniversary series. The Hot Wheels 1:64 model appears to be a 1956 SR-2 with its signature fin. The packaging shows Corvette’s first chief engineer Zora Arkus-Duntov and is autographed by his wife Elfi Arkus-Duntov.

At the writing of this post, the current bid is $53.50. The auction closes on February 13th and the proceeds go to support the National Corvette Museum.

Click here for auction details.


Source:
National Corvette Museum

Related:
Corvette Museum Auctions Parts on eBay

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Featured Corvettes for Sale at VetteFinders.com

by Keith Cornett on February 1, 2008

Sure it might be cold out there. It’s winter after all and depending on where you live you might even be faced with the prospect of snow on the ground. But did you know sometimes the best deals happen during the off-season? If you’re thinking of adding a new Corvette to the garage this year, there is isn’t a better place to look than the Corvettes available from our classified ads web site VetteFinders.com. With over 500 Corvettes for sale, from C1s to C6s, you’re sure to find the Corvette of your dreams. Below is just a sampling from our bi-monthly “Featured Corvettes for Sale” newsletter representing a Corvette for sale from each generation.

1961 Corvette Convertible For Sale 1967 Corvette Convertible For Sale 1974 Corvette T-Top For Sale
1961 Convertible
$46,900
1967 Convertible
$65,995
1974 T-Top
$13,500
 
1990 Corvette Coupe For Sale 2004 Corvette Coupe For Sale 2008 Corvette Convertible For Sale
1990 ZR-1 Coupe
$29,500
2004 Coupe
$37,900
2008 Convertible
$56,995

Selling Your Corvette? Now is the time and VetteFinders.com is the place to reach more qualified Corvette Buyers. Corvette Classified Ads are only $25 and run for 3 months. You can post unlimited photos and you have access to make any changes at any time.


Source:
VetteFinders.com

Related:
Maybe All Corvettes Should Be Red

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Corvette Market Introduction and Subscription Special

by Keith Cornett on January 30, 2008

We’d like to thank the guys over at Keith Martin’s Corvette Market for selecting CorvetteBlogger.com as their featured Corvette website in their latest email newsletter. CorvetteBlogger.com was founded in the Summer of 2005 as an information vehicle to discuss three pillars surrounding the Corvette hobby: Corvette Buying and Selling, Corvette News and Information, and the Lifestyle that surrounds owning the great American Sports Car. If this is your first time to CorvetteBlogger.com, please check us out and consider subscribing to our site via RSS or email.

Click here to see the video clip of Keith Martin’s Corvette Insider seminar from Russo and Steele.

If you’re not a subscriber to Corvette Market magazine, they are offering a limited subscriber special for $22. Corvette Market magazine is a must-read if you like to follow the latest trends in Corvette pricing and valuations. But you better hurry, to get this special rate you need to subscribe before midnight, Wednesday January 30th.


Source:
Corvette Market

Related:
[VIDEO] A Look at Keith Martin’s Corvette Insider’s Seminar
Corvette Market’s C3 Find, Buy & Drive Adventure

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Keith Martin’s Corvette Market magazine held a self-described Insider’s Seminar where he and a panel of Corvette expert’s discussed the Corvette Market and its trends from yesterday, today and tomorrow. The seminar was held at the Russo and Steele event on January 18th in Scottsdale. Here is a brief video which shows the panel discussing the Corvette market with the question on the table being “What Corvette would you buy for $100,000?”

So the question now goes to you. Given $100,000, what Corvette(s) would you buy? Leave your answer in the Comments area and we may just send one commenter a free 2008 Corvette Price Guide.


Source:
Corvette Market via AP Insights

Related:
Corvette Market’s C3 Find, Buy & Drive Adventure

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Auction Results: [VIDEO] 1953 Corvette Sold for $261,800

by Keith Cornett on January 27, 2008

Cool weather and an occasional shower were not enough to slow down the buyers from coming out to Mecum’s High Performance Auction this weekend in Kissimmee Florida. One of the star cars of the auction was this 1953 Corvette, serial #112. This Corvette was previously offered in 2007 and was the only no-sale out of the eight 1953 Corvettes we saw at auctions last year. At the Mecum’s High Performance Auction in St. Charles back in October it received a high-bid of $225,000.

Serial #112 appears to be the real deal. Featuring matching numbers and the owner’s history, this Corvette spent most of its life in Northern Indiana in St. Joseph County. It comes optioned with powerglide transmission, wonderbar radio, emergency brake warning light, windshield washers, courtesy lights, heater, hubcaps and 6.70×15″ wide white tires.

At the Kissimmee Auction, a high bid from Terry Michaelis of Proteam Corvette for $238,000 was enough to sell the Corvette this time around as it was reserved up to $235,000. Total price for the first-year Corvette after the 10% buyers commission was $261,800. UPDATE: When Mecum published the official results from the Kissimmee auction, this 1953′s price with sales commission was listed as $249,900.

Just a quick note about my experience at the Mecum auction. I’ve been going to the Kissimmee auctions for about 10 years now since it was paired up with the NCRS winter regional. It’s amazing how big this auction has become. Huge tents everywhere keep the Corvettes and other muscle cars cool and dry in case of inclement weather. Plenty of seating is availble for non-bidders and this year’s auction featured a couple of bars. Vendors are on the ground and there were plenty of choices for food. Mecum really puts on a great auction and if you enjoyed watching the Barrett-Jackson auction on TV, then you owe it to yourself to get out and see one of these large multi-car auctions live.


Source:
Mecum High Performance Auctions

Related:
RM Auction Results: 1953 Corvette Sells for $290,400
2007 List of 1953 Corvettes at Auction
[Video] Matched Set of 1953/2003 Corvettes sell for $390,500

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