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.

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

Does anyone know the exact number of 77 Corvettes made.
Thank You, Chuck South Carolina

My email address is chas@cetlink.net
Thanks Again

Chuck:

1977 was the model year with the 3rd highest quantity of Corvettes produced. Total production was 49,213 Coupes (T-Tops).

Thanks for stopping by and leaving a comment!

Keith

Hello !
Thanks Keith for helping out with the production quantity for a 77 Vette. Greatly appreciated.
Two questions please should you or anyone be able to help.
A) How does one go about determining if the engine # of a corvette is the original engine ?
B) The Haynes Repair manual states the engine ID # is stamped into a pad on the front right hand side of the engine block.
Would this be on the drivers side, and on top or bottom of the engine block ? I have searched rather dilligently with no luck topside. Could this pad possibly have been lost over the years ? If so, any possibility to locate the engine # elsewhere ?

Chuck:

The right side of the engine is the passenger side. Go over to that side and then look at the very front of the engine where the flywheel is. The engine pad is at a 45 degree angle on a strip about an inch wide and 3-4 inches long. There should be two codes on it, the first being the engine code which will tell us where it was made, date of manufacture as well as the size of the engine. The second will be a 5 digit sequence number that will be the same last five digits of the VIN if it is indeed a numbers matching Corvette.

Let me know if you are successfull in finding it.

Keith