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Auction Watch: Carlisle Waiving Consignment Fees

by Keith Cornett on March 18, 2008

Corvette Auction Underway at 2007's Corvettes at Carlisle

In an effort to redefine itself after last year’s lackluster Corvette auction results, the Carlisle Event’s in-house auction shop has decided to waive the general consignment fee for the 2008 Spring, Corvette and Fall auctions. The standard consignment fee of $250 was an upfront cost to the seller for entering the car in the auction and the move is an attempt to shake up the auction market by trying to entice more sellers to list their cars at a Carlisle auction.

Michael Cornfield the Senior Director of Marketing for Carlisle Auctions said, “The strategy behind this shift is to entice additional auction registrants who will be more likely to partake in the live auction process. Based on the industry-wide decline in sales figures, we believe this will create the buzz needed to break through the now saturated auction market.”

Traditionally, auction houses make money on both buyers and sellers before a single car crosses the block: A consignment fee from the seller for listing the vehicle and a registration fee for bidders. If the Corvette is sold, then the auction house collects a commission from both seller and buyer. The consignment fee would normally be enforced on reserve auctions to protect the auction house from a no-sale. There are some stipulations with Carlisle’s free consignment offer: One consignment per person, your car will be sold outside the prime time hours of Friday and Saturday, and you need to provide the required photos and vehicle descriptions in advance of the deadline, which is July 15th for the Corvette auction.

The free consignment offer should do much to bolster the selection of the Corvettes available at this premier venue and will hopefully bring in the buyers as well. Another change in store for the Carlisle auction is the auction house will no longer be charging a $100 bidder registration fee. So with more cars available for sale and less up-front costs for potential buyers to register, the event could very well get the boost it needs to once again propel the Corvettes at Carlisle auction back to one of the elite Corvette auctions in the Country.

The Corvettes at Carlisle Auction will be held at the Carlisle Expo Center in Carlisle, PA on August 22nd-23rd, 2008 and the deadline for the free consignment offer is July 15th, 2008.


Source:
CarlisleAuctions.com

Related:
Auction Results: Corvettes at Carlisle 2007

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Corvette Racing's #3 C6.R at Sebring
Photo Credit: AmericanLeMans.com

Johnny O’Connell became Sebring’s winningest driver with his seventh class victory in Saturday’s 12-hour race. O’Connell, with teammates Jan Magnussen and Ron Fellows ran a flawless race in the #3 Corvette, finishing 8 laps ahead of the #4 C6.R Corvette team and 29 laps ahead of the #008 Bell Motorsports Aston Martin DBR9. The #3 Corvette C6.R completed 328 laps of the 3.7-mile historic road course to finish first in the GT1 class and 9th overall.

O’Connell’s seventh victory broke a longstanding tie with motorsports legend Phil Hill, who had six victories at Sebring:

“It’s huge to break Phil Hill’s record,” said O’Connell. “Phil is the embodiment of everything that was wonderful about that era of sports car racing. When you meet some of your childhood heroes, they’re a disappointment, but when I met Phil, he was the coolest cat in the world. He talked about the beauty of the cars he competed in and the spectacle of this race. When you spend time with someone who is that deep and insightful, you come away with a much better understanding of how special this race is.

“When you win Sebring, you share it,” O’Connell noted. “It’s not about one guy. I got my first ALMS win with Jan in 1999, and I’ve won some 25 races with Ron. I can’t think of two finer gentlemen and race car drivers I’d rather share this win with.”

The fortunes for the #4 C6.R Corvette took a turn for the worse at just under the two hour mark of the race. The Corvette suffered a rear axle problem and needed to make a trip to the transporter where the crew replaced the right half shaft. The repair took just nine minutes but by the time the #4 Corvette made it back out to the track the #3 Corvette had a nine lap advantage.

Next up for Corvette Racing is the Acura Sports Car Challenge of St. Petersburg on April 5th. ABC will televise the one-hour, 55-minute event live starting at 1:30 p.m. ET.

Sources:
CorvetteRacing.com
American LeMans

Related:
Sebring 2008: Corvette Racing News Roundup

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Supercar Mashup: 1993 Corvette Diablo FI Stingray

by Keith Cornett on March 13, 2008

1993 FI Stingray

We are intrigued by this mating of two of the world’s most recognizable supercars – Corvette and Lamborghini – creating what the owner has renamed the FI Stingray. The car features a 1993 Corvette Chassis and custom front-end mated to the rear end of a Lamborghini Diablo. The Corvette was spotted at the 2008 Canadian International Autoshow last month in Toronto.

So, was this experiment successful? Click the Comment Link below and let me know what you think.

1993 FI Stingray


Source:
Madwhips.com

Related:
Irresponsible Speculation: Another Corvette Spy Photo?

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Sebring 2008: Corvette Racing News Roundup

by Keith Cornett on March 12, 2008

Corvette Racing's #4 C6.R at Sebring
Photo Credit: AmericanLeMans.com

Official Practice Session Times:

The first official practice sessions were held today at Sebring. Corvette Racing’s C6.R Corvettes ran during both sessions and at the end of the day it was the #4 Corvette C6.R setting the lead in the GT1 class with a lap of 1:57.674 while the #3 Corvette ran close behind with time of 1:57.965.

The Bell Motorsports #008 Aston Martin DBR9 is said to be suffering a mechanical problem and is waiting for assistance from the UK.


Corvettes to race on E10 at Sebring

The Corvette Racing team will be racing at Sebring using E10 ethanol fuel instead of E85 as planned. After testing the Corvettes with E85 in February, a post-test inspection showed that the IMSA’s sanctioned E85R fuel was adversely affecting the adhesive used in the manufacture of the Corvette race car’s twin fuel cells.

Corvette Racing team manager Doug Fehan said, “The performance of E85 ethanol racing fuel was firmly established in our initial track test. Now the team is working with the fuel cell manufacturers, IMSA, and our technical partners at the Ethanol Promotion and Information Council to develop an advanced ethanol fuel cell. As a manufacturer team, safety is paramount at Corvette Racing, and we will always err on the side of caution. Just as every new component in a production GM vehicle must be exhaustively tested, every new part that goes into the Corvette C6.R race cars must be tested and validated. It wasn’t feasible to do this in the weeks since the program was announced, but I am confident that we will resolve the situation in a short period of time.”


LG Motorsports #28 Riley C6 Corvette
Photo Credit: Martin Spetz LGMRacing.com

GT2 Practice Times

In the GT2 Class, the LG Motorsports #28 Riley C6 Corvette ran in both practice sessions and posted a best lap at 2:05.656. The team is placed solidly in the 9th position middle of the GT2 pack with about 3 seconds separating them from the class leading Farnbacher Loles Porsche 911 GT3 RSR. The German Porsche team is currently leading the 16 car GT2 class with a posted time of 2:02.594. Four Porsche 911 GT3′s and three Ferrari 430 GT’s make up the top seven times in GT2.

Have you seen the dash cam video of Lou Gigliotti’s Black and yellow Riley Corvette C6 attacking the track at Sebring earlier this week?


Source:
AmericanLeMans.com
GT2 Photo: Martin Spetz LGMRacing.com

Related:
[VIDEO] Sebring – Lou’s GT2 C6 Corvette Dash Cam

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2007 Corvette Convertible

Avis Car Rentals has announced they will offering the 2008 Corvette Convertible as part of their “Cool Cars” fleet. Avis’ Cool Cars are a series of popular high-end vehicles which include the Cadillac CTS, Hummer H3 and Saab Convertible. The Corvette is already in the system and can be rented with guaranteed reservations at select Avis locations in Arizona, California, Florida and Las Vegas.

“Many Avis renters say that, given the opportunity, they would choose to rent an Avis Cool Car as a special treat for themselves,” said Becky Alseth, senior vice president of marketing for Avis Budget Group, Inc., parent company of Avis. “The fabled Corvette is a dream car for many people. Adding it to our Cool Car Collection gives our customers a chance to enjoy the ultimate experience of getting behind the wheel of this one-of-a-kind ride. It’s just another way that ‘We Try Harder’ to help make Avis your ‘other car.’”

I hit Avis.com for more info and immediately saw a yellow Corvette Z06 on the site. But the press release specifically says Corvette Convertible so I entered a couple of dates and was presented with a red convertible Corvette. I had seen accounts that said Corvette rentals would start around $165 but in reviewing the website and plugging in some dates, I was presented with a one day rental cost in Tampa at a stiff $299 without any discounts. When I plugged in some dates in May, my one day rental cost was $229.

Despite the steep price of admission, this is a great way to test drive a Corvette for a day and will allow more people the opportunity to get behind the wheel of America’s favorite sports car.


Source:
Avis.com

Related:
Corvette Convertible Named Intellichoice Best Overall Value

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[VIDEO] Sebring – Lou’s GT2 C6 Corvette Dash Cam

by Keith Cornett on March 11, 2008

LG Motorsports #28 Riley C6 Corvette

The debut of the LG Motorsports #28 Riley C6 Corvette in the GT2 class at Sebring this week appears to be going very well. In only its second day of testing, the flames-themed Black and Yellow Corvette has rocketed to just about 1.5 seconds off the class leading Ferrari’s time of 2:02.535. With confidence in the new GT2 Corvette and greater familiarity with the raceway, drivers Lou Gigliotti and Doug Peterson’s times keep dropping with each session. Here are the times from the three sessions:

Session 1 – 2:08.146
Session 2 – 2:06.167
Session 3 – 2:03.909

Video after the jump.

The onboard camera catches Gigliotti putting the #28 GT2 Corvette through the paces during a tires test. The video shows just how absolutely fast this new Corvette is:

I can’t wait to watch how the team stacks up against the unbelievable field that makes up the GT2 class. The Riley Technologies-built Corvette C6 is fast and loud – truly American – and should compete well in its debut race.


Source:
LGMRacing.com
Supercars.net

Related:
Corvettes to Compete in ALMS GT2 Class in 2008

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Fittipaldi Leaves Mark at the Corvette Assembly Plant

by Keith Cornett on March 11, 2008

30th Anniversary Corvette Pace Car

Emerson Fittipaldi was in Bowling Green to make his mark on the limited edition 2008 Corvette Indy Pace Cars. The two-time Indianapolis 500 winner and driver of this year’s official Pace car is signing and numbering each of the 500 30th Anniversary pace car replicas.

That’s great news for those waiting to place their orders as Fittipaldi’s visit leads to the conclusion that GM has production well underway. We know from recent reports that the 2008 Corvette Pace Car has been entered into the dealer’s ordering system but as of last week there were 0 allocations.

The 30th Anniversary Pace Car will be available in both Coupe and Convertible configurations as well as your choice of a 6-speed manual or paddle shift automatic. Unlike last year’s limited edition Pace Car that was produced after the race, GM has promised these Corvettes will be ready for customers prior to the May 25th race day.

While Fittipaldi was in Bowling Green, he stopped in at the National Corvette Museum for lunch and a guided tour. Fittipaldi said, “This is my first time to the plant and Museum and I can feel the passion for this sports car. The new Pace Cars are beautiful and so much fun to drive. What a muscle car the Corvette is.”

Like the 427 Edition Z06 that opened for orders last week, there will be demand for the 30th Anniversary Pace Cars so you better get in line now. It’s my opinion that this is the best looking Pace Car since the original. For ordering information visit Kerbeck Corvette.


Source:
National Corvette Museum

Related:
Two Unique Corvettes to Pace the 2008 Indianapolis 500
Video: Unveiling the 2008 Indy 500 Corvette Pace Cars

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2009 Corvette ZR1 Hits CraigsList for $350,000

by Keith Cornett on March 11, 2008

2009 Corvette ZR1

We’ve heard over and over again that the MSRP for the 620 hp 2009 Corvette ZR1 should be around $100,000. We also know that when the first ZR1 hit the open market back in January at Barrett-Jackson, it sold for 10 times that amount. So we can’t blame some guy in LA who placed an ad on the free classifieds website Craiglist to advertise the sale of two 2009 Corvette ZR1′s with a considerable market adjustment price of $350,000 each:

yes i have guaranteed myself to get three but only selling two who wants one ?dont wait till this summer there are only 2000 being made price will go up SERIOUS INQUIRIES ONLY.

Will demand for the 2000 or so Corvette ZR1s expected to be produced in 2009 live up to the hype and create a secondary market that hasn’t been seen since the introduction of the 1978 Corvette Pace Car 30 years ago? Jay Leno said during his introduction of the ZR1 at Barrett Jackson that he was the president of the “More Money Than Brains” club. Our craigslist seller might just be a member as well…


Source:
Craiglist via Jalopnik.com

Related:
Barrett-Jackson 08: [VIDEO] 1st 2009 Corvette ZR1 Sold for $1 Million
Dealer Attempts Sale of Ron Fellows Z06 Corvette On eBay

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1964 RightHand Drive Corvette

Vette Magazine has a great feature about this 1964 Corvette barn car. What’s unique about the story is that the barn (and car) was located in Australia. Peter Bowen, a finance broker in Toowoomba, Queensland went to buy a ’67 Camaro, but it was full of rust. Then he saw the distinctive shape of the 1964 Corvette and negotiated the sale over the course of several weeks.

Bowen had the Corvette converted to righthand drive by Corvette Queensland, a company that specializes in LHD to RHD conversions. With the interior flipped to RHD as well, it almost gives you the sensation of looking into a mirror. The Corvette underwent a body-off restoration that took some six years to complete, but as you can tell from the photo it was worth the wait.

Visit Vette Magazine to read the entire article and view the photos.


Source:
Vette Magazine

Related:
Z06 Corvettes Modified with Right-Hand-Drive for Australia

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1954 Corvette

With all the attention the 1953 Corvettes have been getting recently, we thought we’d take a look at what some are calling the best value of the early C1s – the 1954 Corvette.

The rising values of the 1954 Corvette has surprised many as it appears the 2nd year model is finally making its move. Many factors justify the appreciation of the 1954s, none more significant than the fact that the model year is sandwiched between the skyrocketing values of the 1953 Corvette and the V8 Powered 1955 Corvette. In the past, the 1954 Corvette was in many ways considered the stepchild of the early C1 generation, but no more as collectors are beginning to appreciate the Corvette on its own merits.

Production of the 1954 was moved to its own renovated assembly plant in St. Louis and benefited greatly from the lessons learned from the mostly hand assembled 1953 Corvette. GM’s estimated 10,000 units would be produced but only 3,640 constructed. While the sales projection was way off for the time, this production number is over 10 times the number of 1953 Corvettes produced and over 5 times greater than the 1955 Corvette that followed it.

As there were no real drive-train options offered, the 1954 Corvette is one of those rare years where the values are driven almost exclusively by the exterior color. Of the 3,640 1954 Corvettes produced, it’s estimated that the colors were broken down as: 3,230 Polo White, 300 Pennant Blue, 100 Sportsman Red and 4 Black. Therefore with similar cars (condition, documentation, etc) any color other than Polo White will be valued at $10,000-$15,000 more while the ultra-rare Blacks could command three to four times that.

Our Corvette Price Guide documents the rising values of the 1954 Corvette with an average price of $65,000 and a high of $143,000. However most astounding is the appreciation figures. The 1954′s 1 year appreciation is 30% and the 5 year appreciation figure is 85%. Who’s the stepchild now!

In perusing the market in search of examples we found the following:

1954 Polo White Corvette1954 Corvette Convertible, Blue Flame Six, powerglide, numbers match. Polo White paint with Sportsman Red interior and Beige Soft top. Body-off restored over a five year period with the top and interior being done by professional restorer, John Kennedy of Bountiful, Utah. Show condition! Optioned with powerglide, 3.55 rear, Wonderbar radio, e-brake warning light, windshield washers, courtesy lights, heater, hubcaps, and 6.70×15″ wide white tires. Most all factory correct type components including the spare, jack, jack tools, trunk mat, trunk liner, side curtain, side curtain bag, rebound straps, washer system, tar top battery, shifter, shielding, air cleaners, generator, side draft carbs, and #241 head. A very correct spectacular first generation Corvette that was a recent Bloomington Gold feature car. Looks, runs, and drives excellent. Offered by Proteam Corvette. $119,000

1954 Sportsman Red CorvetteFinished in stunning and rare Sportsman Red with correct Red interior. One of only 100 built, this spectacular motorcar was purchased in Southern California from a professor who acquired the car from its original owner, a GM factory engineer. This museum-quality Corvette is one of the very first three red Corvettes ever built by General Motors. It has only been driven 25,000 miles and has recently undergone a cosmetic restoration, including show quality paint, new interior, new tires and new top (original tires and interior are now boxed and goes with the car!). This spectacular motorcar has been examined by many Corvette experts and is believed to be one of the nicest original examples on the market today. It has the correct, numbers matching engine, correct carburetors and many early unique features such as dual hood releases, ultra-short (pre-Duntov) exhaust tips, correct date-coded side curtains with the storage case, original factory spare and so much more. eBay Buy-It-Now Price: $119,900

1954 Polo Blue Corvette2-owner 1954 Chevy Corvette. 1954 was the first year this car was produced in a color other than white. This Pennant Blue sportster will turn heads at every corner. Except for the paint, this baby is all original. The side curtains, the spare tire, the soft top, gauges, Wonder-Bar Radio, hub caps and even the original windshield-washer fluid container – all original!!! The radio works but the speaker needs to be connected. The Blueflame engine is all original and all numbers match. In 1954, 3230 whites were produced. Only 300 Pennant Blues were produced. This is truly one of the rare ones!!! There are some areas that can use some TLC – for example, the carpeting and driver’s seat. The driver’s side curtain is missing a small screw and both curtains need some work on the rubber trim. The car starts on first try and sounds like a dream. The Powerglide Automatic transmission shifts smoothly. eBay Current Bid: $25,655.00


Source:
Proteam Corvette
eBay

Related:
Appreciating Corvettes: Top 12 Price Gainers of 2007

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