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Michigan Fall Classic Auction Results

by Keith Cornett on November 1, 2005

RM Auctions posted the results of the Michigan International Fall Classic Car Auction held September 22nd-25th at the Michigan State Fairgrounds. Of the 23 Corvettes listed, only 10 were sold.

Year/ModelPriceBid Type
1956 Convertible$48,500Final Bid
1960 Convertible$53,000Final Bid
1960 Convertible (custom)$39,590SOLD
1964 Coupe$27,000Final Bid
1967 Coupe$37,500Final Bid
1968 Coupe$14,900Final Bid
1968 Convertible$18,511SOLD
1970 Convertible$28,355SOLD
1971 Coupe$17,644SOLD
1972 Coupe$17,900Final Bid
1974 Coupe$8,880SOLD
1975 Coupe (L82)$12,500Final Bid
1977 Coupe$12,840SOLD
1978 Coupe$5,564SOLD
1978 25th Anv Coupe$26,000Final Bid
1979 Coupe$5,750Final Bid
1979 Coupe$5,300Final Bid
1980 Coupe$8,560SOLD
1982 Coupe$13,750Final Bid
1994 Convertible$11,503SOLD
1995 Convertible$17,655SOLD
1999 Coupe$37,500Final Bid
2005 Coupe$39,000Final Bid
Click Here for Full Auction Results

Corvette Values: 1982 CE Coupe

by Keith Cornett on October 25, 2005

Bryan B. from GA submitted this 1982 Collector’s Edition Coupe to Corvette Values: 1982 Collector Editions Coupe. VIN: 1G1AY0781C51094xx. Silver Beige with Silver Beige leather interior. 56K Original Miles. 350 ci 200 hp, Automatic. Power Steering/Brakes/Windows. Factory AC. Owner History and Owners Manual. Mechanicals, Exterior and interior rated as good. Tires excellent. This 1982 Corvette is a unique Collector Edition Corvette, built to give special recognition to the last model year of the third generation Corvette. All 1982 Corvettes were built at the new Corvette Assembly Plant in Bowling Green, KY. This was the first full production year for Corvettes at this facility. The VIN# 1G1AYO781C5109494 indicates this Corvette was built in March 1982. The VIN also indicates it is a bonified Collector Edition Corvette. A number of Collector Edition replicas have been known to surface with a value considerably less than an original Collector Edition. A special VIN with the sixth digit of “0″ was established to verify all of the original Collector Edition Corvettes. This Corvette has 56,524 original miles that can be termed average for a 1982 model Corvette. The overall condition of this Vette is considered “good” from an interior and exterior perspective. The special silver beige paint is in good condition and does not reflect the 56,000 miles shown. It is quite apparent that these were carefully driven miles based on the condition of the paint. The Collector Edition paint scheme included special decals on the door sides and hood to enhance the paint scheme. The ones on this Vette are in excellent condition. The Collector Edition included special wheels that resembled the 1967 Corvette optional bolt-on wheels. These, too, are in excellent condition and the tires appear to be new. The “curb appeal” of this Corvette can be termed excellent with its unique paint and special wheels. This model includes removable glass roof panels, a rear hatch that opens and all of the power options. Documentation is important in establishing the price of a Corvette. Documentation for this Corvette includes owner history and the original owners manual is available. The appraised value of this 1982 Collector Edition Corvette is $16,900. In addition, our price database of Collector Edition Corvettes shows a 1% appreciation factor when compared to the average price of one year ago. 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.

A ’57 Rots While Owner Dreams

by Keith Cornett on October 21, 2005

This sucks. A 1957 Corvette languishing in a woodpile, probably dragged there by someone who thought that: 1.) It will be worth a fortune some day or;
2.) One day I’m going to restore this car. Regarding the first point, Correct. The 1957 Corvette is one of the most sought-after C1′s. Our price guide shows the average ’57 selling for nearly $50,000. Appreciation factors are 15% over the last two years. However, I fail to see the logic of keeping a classic Corvette or any other automobile for that matter stored outdoors, open to the elements because someday you think you’ll be able to sell it for a bunch of cash. At least put it in a barn for god’s sake and cover it up with old tires and broken lawn chairs. “I’m going to restore this Corvette someday. ” Yeah, right. All you’re doing is letting it deteriorate to the point that it will take more money and time than you will ever have, so the Corvette just sits. Meanwhile, you are fairly well known around town as the idiot with a corvette in the woodpile. People are probably stopping by all the time making offers on her. You politely decline and take their phone number anyway while you dream of rumbling down the country roads in your restored ’57 Convertible. Do the Corvette world a favor. Next time someone drops by and makes a reasonable offer – take it. Stop thinking that it will be worth the $50,000 you think it is. If the Corvette is numbers-matching, you could possibly get up to $20,000 for it. If the original engine is gone, expect no more than $10,000. Leaving it rotting in the woodpile is just wrong. Oh, by the way. Just to the right of the 57 Convertible is a 65 Fuelie Coupe. Photos: CorvetteForum’s Duntov-097

Hershey Auction Results

by Keith Cornett on October 13, 2005

Kruse International posted the results of their auction held October 6th-8th in conjunction with the great automotive show and swap meet in Hershey, PA. Over 300 autos were scheduled including 13 Corvettes. The high for Corvettes was a 1961 Honduras Maroon Convertible which sold for $131,000. The low winning bid was for a 1978 Silver/Beige Corvette Coupe at $12,250. Corvette Auction Results:

Year/ModelPriceBid Type
1957 Convertible$85,000Final Bid
1959 Convertible$48,500SOLD
1959 Convertible$52,500Final Bid
1961 Convertible$131,000SOLD
1964 Convertible$40,000SOLD
1969 Convertible$20,250SOLD
1973 Coupe$22,000Final Bid
1977 Coupe$8,750Final Bid
1978 Coupe$12,250SOLD
1978 Pace Car Coupe$30,000Final Bid
1982 Coupe$15,500SOLD
1987 Coupe$17,100SOLD
1987 Coupe$20,000SOLD
Click Here for Full Auction Results

2006 Best Resale Value Awards

by Keith Cornett on October 6, 2005

The average automobile retains only about 35% of its original value after a five-year period according to Kelley Blue Book. KBB.com has just released their 2006 Best Resale Awards and the Corvette is named category winner for Convertibles as having the best resale value. The Corvette was the only model of the big 3 domestic automakers to make the list. KBB.com’s projections are based on current behicle data, market conditions, competition in its segment as well as expections of the future economy. The cars that made this list will on average keep aboutn 50% of its original purchase price over 5 years. “Now in its sixth generation, “America’s sports car” has won exceptional acclaim for its performance/price ratio. Its high initial value for money and its visceral appeal make the Corvette a winner not only on the track but also in the financial columns.” The editors at Kelley Blue Book also list a number of options that can help you with resale value. First, choose a popular exterior color, such as black, white or silver. Then select equipment that many buyers want. Included on this list are: antilock brakes (ABS), alloy wheels, CD player/CD changer, parking sensors, navigation system, sensing cruise control and leather-covered seats. At the same time, avoid less popular colors and go easy on customization. Also making the list was the Mini Cooper, Toyota Prius, Honda Accord Hybrid, Volvo XC90, Porsche Cayenne, Infiniti G35, BMW 5-Series, Lexus GX 470 and the Infinit M45.

Corvette Values: 1978 Coupe

by Keith Cornett on September 21, 2005

GS From Oklahoma submitted this 1978 Coupe to Corvette Values: 1978 Corvette T-Top Coupe. VIN 1Z87L8S4123XX, Dark Blue with Midnight Blue leather interior. 20,234 Original Miles. L48 Original Motor, Automatic Transmission, Power Brakes, Power Steering, Power Windows, Factory A/C, Original Factory Aluminum Wheels, Tele Steering Wheel, AM/FM Stereo, Rear Defrost, Sport Mirrors. Condition is Excellent. Full Documentation including Service Records, Original Warranty Card, owners Manual. The 1978 Corvette production year was interesting with more than 50% of the production representing two special models, the Silver Anniversary and the Pace Car. The remainder of the production line was termed the “standard model,” this is the model submitted. Based on the VIN #1Z87L8S4123XX, it was built early in the 1978 production year. It is powered by the standard 350, L-48 motor that is coupled with an automatic transmission. The motor is original and makes this a matching numbers Corvette. This Corvette is unique with only 20,238 original miles. In addition, it is equipped with most of the options that were available during the 1978 model year. Included are power windows and door locks, cruise control, rear window defogger, air conditioning, sport mirror, tilt-telescopic steering column, AM/FM radio and aluminum wheels. This Corvette is Dark Blue in color and the original paint is termed in good condition. The interior has Dark Blue Leather seats which along with the door panels and carpeting are in excellent condition. Mr. Steven’s Corvette has excellent “curb appeal” with its dark blue paint and contrasting optional aluminum wheels. Documentation plays an important role in determining the originality and value of a Corvette. In possession is previous owner history, service records and the original warranty card and owner’s manual. We place a value of $15,000 on this low-mile 1978 Corvette. In addition, the one year average price appreciation factor is +8%. This value is substantiated by recent sales at major Corvette auctions in the US, including Bloomington Gold and Corvettes at Carlisle 2005 events. 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.

Auburn Auction Results

by Keith Cornett on September 19, 2005

Kruse International has posted the results of the auction that took place in Auburn, Indiana August 31-September 6. What’s interesting about this auction was not so much what sold, but what didn’t sell. Of the 85 Corvettes listed, only 37 were listed as SOLD. While many of the low-end bids were rejected, several cars received significant bids but remained unsold:

Year/ModelPrice
1961 Convertible$80,000
1967 Convertible$97,000
1967 Convertible$90,000
1987 Callaway$31,000
Some may say the reason for the many no-sales is that Corvettes tend to do better at predominately Corvette only auctions. I happen to agree. I also believe that Corvette sellers have become well aware of the upswing in pricing and have priced their Corvettes accordingly. These owners would rather take the no-sale at an auction and try to sell their Corvettes elsewhere than lose the premium value they are seeking. There were some good buys at the Auburn Auction:
Year/ModelPrice
1957 Convertible$34,700
1964 Convertible$20,200
1979 Coupe$4,600
1984 Coupe$4,300
1990 Convertible$9,600
Click the More link to view the full auction results.

Auburn Auction Results
August 31-September 6

Year/ModelPrice
1957 Convertible$34,700
1959 Convertible$39,750
1961 Convertible$39,000
1961 Convertible$39,500
1963 Coupe$51,500
1963 Coupe$59,000
1963 Grand Sport Replica$59,000
1964 Convertible$20,200
1964 Convertible$47,000
1964 Coupe$29,250
1964 Convertible$27,000
1965 Coupe$37,800
1965 Coupe$46,000
1966 Convertible$40,000
1966 Convertible$32,600
1967 Convertible$99,000
1967 Coupe$38,000
1969 Convertible$31,250
1969 Coupe$26,700
1973 Convertible$22,750
1974 Coupe$19,100
1976 Coupe$17,000
1978 Coupe$10,500
1978 Pace Car$17,700
1979 Coupe$4,600
1980 Coupe$9,250
1981 Coupe$7,250
1981Coupe$8,900
1982 CE Coupe$22,250
1984 Coupe$4,300
1984 Convertible$6,000
1985 Coupe$4,150
1986 Convertible$12,200
1990 Convertible$9,600
1990 Coupe$8,250
1991 ZR-1 Coupe$18,500
1994 Coupe$11,000

Bids that failed to result in a sale

Year/ModelPriceBid
1961 Convertible$80,000Final Bid
1964 Grand Sport Replica$29,500Final Bid
1965 Convertible$38,500Final Bid
1965 Covette Race Car$22,000Final Bid
1965 Corvette Race Car$20,000Final Bid
1966 Corvette$49,500Final Bid
1966 Convertible$41,000Final Bid
1966 Convertible$40,000Final BId
1967 Convertible$97,000Final Bid
1967 Convertible$90,000Final Bid
1968 Convertible$42,000Final BId
1968 Convertible$44,000Final Bid
1968 Convertible$24,000Final Bid
1968 Convertible$25,000Final Bid
1968 Convertible$23,500Final Bid
1968 Coupe$10,700Final Bid
1969 Convertible$21,600Final Bid
1969 Coupe$25,250Final Bid
1972 Coupe$11,700Final Bid
1972 Coupe$14,300Final Bid
1972 Coupe$10,000Final Bid
1972 Coupe$40,000Final Bid
1973 Convertible$10,000Final Bid
1974 Coupe$4,950Final Bid
1978 Coupe$6,300Final Bid
1975 Convertible$21,000Final Bid
1976 Coupe$12,250Final Bid
1979 Coupe$8,700Final Bid
1980 Coupe$13,000Final Bid
1981 Coupe$5,000Final Bid
1981 Coupe$9,300Final Bid
1982 Coupe$6,500Final Bid
1984 Coupe$19,000Final Bid
1985 Coupe$12,000Final Bid
1986 Convertible$13,000Final Bid
1987 Callaway Conv$31,000Final Bid
1987 Callaway Conv$15,000Final Bid
1989 Coupe$5,000Final Bid
1990 Coupe$25,000Final Bid
1990 Convertible$14,500Final Bid
1992 Coupe$7,200Final Bid
1993 Coupe$15,000Final Bid
1996 Coupe$13,100Final Bid
1999 Convertible$21,500Final Bid
2001 Convertible$25,000Final Bid
2002 Coupe$24,000Final Bid
2003 Convertible$30,000Final Bid

Corvette Values: 1972 Convertible

by Keith Cornett on September 14, 2005

SB of New Jersey Submitted this 1972 Convertible to Corvette Values: 1972 Corvette Convertible, VIN 1Z67K2S5214XX. 2 Owner Car. 350 ci, 4 Speed transmission, Yellow with Cloth Black interior, Black Soft top. Power Steering, Factory A/C. $10,000 on Engine/Mechanicals spent within last year. Exterior is original paint in street driven condition. Interior and Chrome are in good condition. This 1972 Convertible is one of 6,508 convertibles manufactured. Based on the VIN it was assembled in the second half of the production run. (21,400 of 27,004 total) The VIN indicates the engine is the base 350 cubic inch engine: Fifth Digit = K: 350 ci 200 hp. A 4-speed transmission was also included in the base model. The Corvette is Sunflower Yellow with Black cloth interior and a black soft top. Only 5% of Corvettes were painted Sunflower Yellow making this a rare color choice for 1972. The exterior paint is original and in street driven condition, with some chipping and cracking. The interior is listed a good condition. The Corvette features wanted conveniences like factory A/C and power steering. The owner has had the Corvette since the late 70′s and is the second owner. Most documentation including history and service/repair receipts have been saved. We place a value of $18,500 on this 1972 Convertible. In addition, our pricing data shows a 14% appreciation in average price during the past 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.

Katrina’s Corvette Flood

by Keith Cornett on September 10, 2005

You just the knew this topic was coming. Thousands of vehicles sitting submerged in the streets, driveways and garages of New Orleans. What will happen with all those cars including Corvettes that were damaged by the flood waters of Katrina? Automuse has an excellent legal analysis on the laws of Louisiana and how automobiles are branded as “flood” cars. For a vehicle to receive the “flood” brand, it must be declared a total loss by the insurance company and issued a salvage title. The “flood” brand on the salvage title indicates the car was totaled as a result of water damage. However, for a car to be considered a total loss, it must have sustained damages equaling 75% or more of the market value as determined by the NADA handbook. But what about all those cars, including Corvettes that sustained “some” water damage, but did not reach the 75% threshold? While the good news is that Louisiana law requires disclosure to the buyer of a vehicle if it sustained water damage, the downside is that cars that sustained some water damage but not enough to be a total loss, will have clean, unbranded titles. Unfortunately Mississippi doesn’t require buyers to be notified of a car’s water damage, but does require cars that are total losses to be re-titled as a salvage vehicle. So what will happen with all those Corvettes that were damaged? C1′s to C3′s may be had at some decent “restorable” values from insurance companies or brokers who resell salvage vehicles. C4′s and above? Forget about it. With all the electronics that post ’82 Corvettes contain, they are more likely to have costly damage to those key components and aren’t worth the cost of repairs. One of the lasting effects of Katrina may be the public’s avoidance of purchasing pre-owned Corvettes from the Gulf region as well as the sales boon that I am sure Carfax and other title reporting sites will have. Caveat emptor…

2006 Model Debuts Unknown

by Keith Cornett on September 7, 2005

The National Corvette Museum reports the last 2005 Corvette will roll off the assembly line this week and the process will be what they call a “running change” with 2006 models being built directly behind the last 2005 model. According to the Museum, no release dates are yet available on the Coupe/Convertibles. We have heard that Z06′s were on the assembly line in August, but according to CorvetteConti.com, it looks like those that were built are going to GM Execs and select markets for testing. There is currently no release date yet for the Z06 and no museum deliveries are being scheduled. GM has indicated that it will be into the 4th quarter before Z06 models will be available. The favorable press coverage and auto magazine reviews are making us jones big time for the release of the Z06 and I am sure that those that have money down and an order in the pipeline are just dying. Give us some info, GM!!!

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