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2009 Corvette Price Guide Released

by Keith Cornett on March 9, 2009

2009 Corvette Price GuideOur Corvette classifieds website VetteFinders.com has released its annual Corvette Pricing Guide and later this week we’ll be posting an analysis of the Corvette pricing trends from 2008.

But what a difference a year makes! As the state of the US economy took its toll on housing, banking and automotive sectors, it also dipped down to effect the Corvette collector car market.

The days of double-digit appreciation are behind us, replaced with more modest gains that most owners should find acceptable given the current climate. There are 55 Corvette models produced from 1953 through the 1988 Anniversary Edition and 38 of them are showing single digit appreciation with another 4 models showing no-change in average price.

We continue to see the first through third Corvette generations bidding and selling well – providing they are original and documented. Those restored with high performance motors continue to break $100,000 threshold, however, there has been some slippage with these big-ticket Corvettes recently. We’ll have more on the top models from both an appreciation and depreciation perspective later this week.

What makes the 2009 Corvette Price Guide unique compared to other guides is the research and cataloging of prices from the actual sales of over 5,800 Corvettes in 2008. This gives 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. This method has proven year after year to be a statistically accurate measure of the Corvette Market.

The free online version features the average prices of over 125 different Corvette models spanning 1953-2009. 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.

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:
Corvette Values: 11-mile 1978 Corvette Pace Car
Corvette Values: 1970 Corvette Roadster
Auction Results: Barrett-Jackson Corvette Sales Total $10 Million

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1989 Corvette ZR-1

The scene is eerily familiar, yet we are talking about an event that happened twenty years ago today. After months of dodging spy photographers with the automotive magazines eager to capture a new supercar in the works, General Motors took the world by storm with the unveiling of the 32-valve 375 horsepower Corvette ZR-1 at the 1989 Geneva Auto Show.

The new ZR-1 represented Corvette’s return to the high performance automotive arena after decades of languishing under emission standards, reduced power and a corporate mentality that seemed to have no interest in further developing one of the most storied names in automotive history. And like the new 2009 Corvette ZR1, the heart of 1989 Corvette ZR-1 was what made this car special: The all-aluminum 32-valve 4 overhead cam LT5 V8.

Developed in conjunction with Lotus Cars of England and assembled by hand at Mercury Marine in Stillwater, Oklahoma, the LT5 represented a technological leap for Corvette. With 375 horsepower and 370 lb-ft of torque on board, the Corvette ZR-1 could run 0-60 mph in just over 4 seconds and had a top speed over 175 mph.

After the unveiling in Geneva, General Motors invited a select group of media from around the world to drive the Corvettes from Geneva to the walled city of Carcasonne in the southwest corner of France. A stop at the Goodyear test track in Mireval, France gave GM the opportunity to show off its new supercar’s performance and abilities in a series of high-speed cornering and wet-pavement tests.

The media fell in love with the new Corvette and the ZR-1 was on the cover of virtually every magazine in the world. This initial hype fueled demand and when the Corvette ZR-1 went on sale in September 1989, dealers were selling the new car for $10,000-$20,000 above the MSRP of nearly $60,000. Many collectors who purchased the Corvette had no intention of driving them, but to store them as a future classic.

The Corvette ZR-1 program lasted six years and during that time, the LT5s power was bumped from 375 to 405 hp. Almost 7,000 Corvette ZR-1s were built during those six years. The last “King of the Hill” rolled off the assembly line in Bowling Green, Kentucky with great fanfare in April 1995. Residing today at the National Corvette Museum, the Torch Red Corvette sports a windshield banners that reads “The Legend Lives”.


Source:
GMnext

Related:
[VIDEO] The Introduction of the Corvette ZR1 at GM Style
[VIDEO] 1989 Corvette ZR-2 Sells at 2009 Barrett-Jackson
[VIDEO] 1989 Corvette ZR-1 “Snake Skinner” Sells at 2009 Barrett-Jackson

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Friday’s Featured Corvettes for Sale

by Keith Cornett on March 6, 2009

1967 Corvette Coupe for Sale at VetteFinders.com

With the market tanking and more bad news for stocks on the horizon, isn’t time that you put your money to work in an alternative investment that also provides a lot of fun? The classic Corvette market continues to shine and the preowned market is providing some of the best deals in a generation.

You’ll find the greatest selection of new and classic Corvettes at VetteFinders.com, the Internet’s original Corvette classifieds 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.

1958 Corvette Convertible For Sale 1964 Corvette Convertible For Sale 1973 Corvette Convertible For Sale
1958 Convertible
Email for Price
1964 Convertible
$53,900
1973 Convertible
$19,990
 
1991 Corvette Coupe For Sale 2001 Corvette Coupe For Sale 2005 Corvette Convertible For Sale
1991 Coupe
$10,500
2001 Coupe
$15,995
2005 Convertible
$39,999

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

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Corvette Values: 11-mile 1978 Corvette Pace Car

by Keith Cornett on March 4, 2009

1978 Corvette Pace Car

DM in Illinois submitted this 1978 Corvette Pace Car Replica to Corvette Values:

1978 Corvette Pace Car Replica, VIN #1Z8748592XXX. Optional L82 350/220 hp engine, automatic transmission. 11 original miles. Black and Silver with Silver interior. Indy 500 Pace car graphics not installed. Cruise control, power steering, power brakes, power windows. AM/FM Stereo CB and power antenna. Never been titled – still has original Country of Origin document.

Find out how we valued this Corvette after the jump.

1978 Corvette Pace Car 1978 Corvette Pace Car 1978 Corvette Pace Car

The VIN #1Z8748S902XXX indicates this is a Pace Car replica as they were the first Corvette model to receive their own unique VIN – the 8th digit is a ’9′. Production of the 1978 Corvette Pace Car was limited to 6,502 units. Initially 300 units were planned, however, demand was such that Chevrolet built one for each of its dealerships.

This was the first production Corvette to be identified as a ‘special edition’ as it was designated to be the Pace Car at the Indianapolis 500 Race. A lead story on the front page of the Wall Street Journal indicated this model would become an immediate collectable Corvette. There was a quick impact on the selling price of these Corvettes with the asking of $10,000 over the list price of $13,653 for the 1978 Pace Car.

Demand for this Pace Car peaked shortly after the 1978 Indy 500 Race. By this time, numerous Pace Cars had been sold at the premium price. Many of these owners thought this was an excellent investment and placed their Indy 500 Pace Car Corvettes in storage with the original delivered miles of under 20. In fact, many of these Corvettes remain in storage today, many have never been titled.

It appears that this 1978 Pace Car is one of those Vettes. The original list price included all of the desirable options and included the standard L-48 185hp motor and automatic transmission. This 1978 Pace Car Corvette includes the upgrade L-82 220hp motor which was a $525 option. It is also equipped with AM-FM stereo radio with a CB feature, a $170 upgrade for the Pace Car.

This 1978 Pace Car is in showroom condition as evidenced by the 11 original miles shown. In addition, it has not been titled.

The Pace Car had door decals indicating it was a Pace Car. These were a dealer installed feature. The decals are available, however, were not installed on this Pace Car.

We place a value of $29,000 on this 1978 Pace Car.

On a comparative basis, a 1978 Pace Car with the L-82 motor, automatic transmission and 16 original miles sold for $31,000 at the Barrett-Jackson Auction last January in Scottsdale, AZ. At this auction, the owner of the Corvette had to pay a consignment fee and the auction provided the sales hype as the bidding took place.


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.
Source:
VetteFinders.com Appraisal Service
Related:
Corvette Values: 1978 Corvette Pace Car
Corvette Values: 1961 Corvette Roadster
Corvette Values: An Unrestored 1967 Corvette Roadster
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February 2009 Corvette Sales

by Keith Cornett on March 3, 2009

GM released its sales figures today that show 1,027 Corvettes were delivered in February 2009. While the sales number is down 50% over February 2008′s 2,071 Corvettes delivered, the good news is that this is a 22% increase over the paltry 842 Corvettes delivered in January 2009.

READ MORE →

My Corvette Ride: The Last 1969 L88 Corvette Roadster

by Keith Cornett on March 2, 2009

The Last 1969 L88 Corvette Roadster

This 1969 Corvette is well documented and best known for being the last L88 Convertible made. VIN # 36083 was special ordered by a dentist hailing out of El Cajon, CA. The Monza Red Corvette was built in November 1969, the second to last month of 1969 model year production, and was delivered to Guaranty Chevrolet in San Diego, California.

Since then this L88 Convertible has been well cared for, earning a Survivor award at Bloomington in 2006. In 2008, the Corvette returned to St. Charles as part of the Bloomington Gold “L88 Invasion” Special Collection and also participated in GM’s 100 year anniversary celebration.

The L88 was a special high performance engine built during 1967-1969. To ensure the racing engine only showed up in cars destined for the track, GM artificially downgraded the horsepower from an estimated 560 hp down to 430 hp, 5 hp less than the L71 427/435 engine, and deleted creature comforts like heaters and radios. During that three year run, only 216 examples would be produced with 116 coming during the final year of 1969.

Like most of the standard L88 cars, the last ’69 L88 Corvette roadster came equipped with the special front and rear suspension (F41), special heavy duty brakes (J56), transistor ignition (K66) and the heavy duty close ratio 4 speed transmission (M22). Other options included an auxiliary hard top, tilt/tele steering column, the UA6 alarm system and speed warning indicator.

The Last 1969 L88 Corvette Roadster The Last 1969 L88 Corvette Roadster The Last 1969 L88 Corvette Roadster
The Last 1969 L88 Corvette Roadster The Last 1969 L88 Corvette Roadster The Last 1969 L88 Corvette Roadster
The Last 1969 L88 Corvette Roadster The Last 1969 L88 Corvette Roadster The Last 1969 L88 Corvette Roadster

The Corvette has been detailed by Naber Brothers of Houston and MasterWorks in Detroit. Long time Corvette collector Tom Marcucci is the current owner.


My Corvette Ride

We are kicking off a new recurring feature called “My Corvette Ride” and we need to hear from you. Want to see your Corvette profiled on CorvetteBlogger.com? Send us the details of your Corvette and a quality photograph and we’ll contact you for more info if we decide to use it.

Related:
Barn Find: 1968 L-88 Corvette Convertible Racer
[VIDEO] God Bless America: L88 Corvettes on Parade
[VIDEO] Auction Results: 1969 Corvette L88 COPO Racer

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Corvette Racing: The 24 Hours of Le Mans Entry List

by Keith Cornett on February 26, 2009

The Corvette C6.Rs at Le Mans

The ACO has released the entry list for the 2009 24 Hours of Le Mans. In what will be Corvette Racing’s final battle for GT1 glory at La Sarthe, the factory-backed Corvette C6.Rs will face off against two rival Aston Martin DBR9′s, two Lamborghini Murcielago’s and two other Corvette C6.R’s from privateer Luc Alphand Aventures.

Perhaps the biggest disappointment came a few weeks ago when the factory Aston Martin Racing team announced a move to a Lola Aston Martin LMP1, depriving the Corvette C6.Rs a final chance at retribution against the former GT1 class winners from the last two years. The two DBR9′s that will compete in GT1 this year come from Gigawave Motorsport and Jetalliance Racing.

The Eight GT1 Entries:

  • #55 IPB Spartak Racing: Lamborghini Murcielago
  • #60 Gigawave Motorsport: Aston Martin DBR9
  • #63 Corvette Racing: Corvette C6.R
  • #64 Corvette Racing: Corvette C6.R
  • #66 Jetalliance Racing: Aston Martin DBR9
  • #68 JLOC ISAO Noritake: Lamborghini Murcielago
  • #72 Luc Alphand Aventures: Corvette C6.R
  • #73 Luc Alphand Aventures: Corvette C6.R

* A Saleen S7R entered by Larbre Competition is on the reserve list

The ACO failed to deliver an invite to Lou Gigliotti’s #28 GT2 Corvette which according to Lou was the linchpin for funding their 2009 ALMS campaign. We’ll have to wait and see what the LG Motorsports/Riley Technologies plans will be for the American Le Mans series now that they know that Le Mans is no longer in the mix.

There are 14 entries in the GT2 category with a field that comprises nine Ferrari 430s. So a quick note to Pratt and Miller’s GT2 engineers – The Ferrari 430 is your obvious performance target so go get ‘em! The Drayson Racing Aston Martin V8 Vantage will also be making its debut at Le Mans in GT2.

You can see the entire 55 car entry list at Crash.net

The 77th running of the 24 Hours of Le Mans takes place June 13-14th.



Source:
Crash.net
Photo Credit: Richard Prince

Related:
Marcel Fassler and Antonio Garcia Join the Corvette Racing Team
LG Motorsports Makes Bid to Race GT2 Corvette at Le Mans

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eBay Find of the Day: Vintage 1957 Corvette Race Car

by Keith Cornett on February 26, 2009

Ebay Find of the Day: 1957 Corvette Race Car

Here is yet another Corvette race car that’s now for sale. This 1957 Corvette roadster was raced back in the sixties and seventies but its most successful campaign came in 1998 when the owner competed in and won the SVRA Paine-Weber Endurance Championship.

Powered by a 283 cubic inch V8 built by Compton Race Engines, this yellow roadster is ready to race. The Corvette underwent a restoration following the 2006 season and is currently set up for competition as a vintage racer. In addition to the new 283 ci V8, the roadster features an upgraded T-10 transmission, new ram clutch, drive shaft and flywheel. A holly 750 delivers the fuel from an ATL 40 gallon fuel cell and cold air box insures plenty of oxygen to the powerplant.

On the outside, the Corvette was repainted in Chrome Yellow and has white racing stripes, racing numbers, grill bar and new ovals. The Corvette can be raced with or without its included hardtop.

1957 Corvette Race Car 1957 Corvette Race Car 1957 Corvette Race Car
1957 Corvette Race Car 1957 Corvette Race Car 1957 Corvette Race Car
1957 Corvette Race Car 1957 Corvette Race Car 1957 Corvette Race Car

We asked our friends at the Registry of Corvette Racecars for an honest opinion about the C1 roadster and they didn’t disappoint:

Keith – This is one of the better prepared straight axle vintage racers. The only thing holding back its value is lack of documented racing history. That would put it in a class with Bob Mouat’s 1957 COPO Air box Fuelie and other straight axles that were actually raced, most of which we know well and are now sitting in museums.

Mac Lyle of Rock Hill, SC built the car. I have not seen it on the circuit since 1998 when they blitzed the SVRA to win the Paine-Weber Endurance Championship.

The downside is that the car is way too race improved and would probably not be allowed in the Monterey Historic. And although it would be a fun car to drive in SVRA or HSR races, the asking price of $65K seems a bit steep compared with what else that will buy to go vintage racing.

Jan Hyde – Registry of Corvette Racecars

So that being said, here’s your chance to own a vintage Corvette race car that’s track ready. The current bid is $25,427 and the Corvette has a “Buy It Now” price set at $65,000. The auction runs ends Saturday.


Source:
eBay

Related:
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[VIDEO] Auction Results: 1969 Corvette L88 COPO Racer
[VIDEO] Gulf One 1963 Corvette Z06 Sells for $1.05 Million
Breaking News: Corvette Grand Sport #002 Fails to Reach Reserve

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[VIDEO] John Heinricy Drives the Hennessey Corvette ZR700

by Keith Cornett on February 25, 2009

John Heinricy Drives Hennessey’s 705hp Corvette ZR700

As the resident consulting engineer and test driver for Hennessey Performance, former GM performance guru John Heinricy gets to get behind the wheel of some serious vehicles. In this latest video, Heinricy does a warm up lap at MSR Houston with Hennessey’s latest Corvette creation, the 705 hp 2009 Hennessey Corvette ZR700.

With 705 hp under the hood, the Hennessey ZR700 is seen hitting speeds of 145 mph. On this day, Heinricy logs over 125 track miles and recorded a best lap of 1:38.4 seconds on the 2.3 mile road course.

Hennessey Performance introduced the ZR700 last month with great fanfare and a series of stats that would put a smile on any Corvette owner. One of the first tuner upgrades of the 638-hp Corvette ZR1 to come to market, the Hennessey ZR700 features 705 horsepower and 717 lbs-foot of torque. The ZR700 runs the quarter mile in 11.03 seconds at 136 mph. 0-60 mph was timed at 3.1 seconds and 0-150 mph was 13.9 seconds. Estimated top speed is 212 mph.


Source:
Hennessey Performance

Related:
Hennessey Unleashes the 705hp Corvette ZR700
[PICS] More on the Katech Corvette Z06 Clubsport Package
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1963 Corvette Split Window

You can find all kinds of websites dedicated to displaying the more interesting photos that have come from Google’s Street View project and now you can add a 1963 Corvette Split Window Coupe to list. This Corvette was recorded by a street view camera in Spokane, Washington. From the looks of how this Corvette has been stored, the only thing missing from this barn car appears to be the barn.

You’ll see from the supporting photos that this is indeed a 1963 Corvette Coupe. A Washington state license plate and an extra set of taillights adorn the sting ray’s rear. Also, notice the Corvette is stored outdoors with the passenger window either down or missing. It rains a lot in Washington, doesn’t it? Instead of keeping the address to ourselves in case we feel the need to one day trek across the country in search of an allusive sting ray, you can find it here.

1963 Corvette Split Window 1963 Corvette Split Window 1963 Corvette Split Window
1963 Corvette Split Window 1963 Corvette Split Window  

Update:
According to some at the NCRS Discussion Boards, this is a numbers matching fuelie that’s been sitting since 1975.


Source:
Classic Nation

Related:
Barn Fresh and Restoration Ready: 1962 Corvette Roadster
Barn Fresh Auction: 1964 Ermine White Corvette Coupe
Barn Find: 1968 Corvette Convertible