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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: Corvette Appraisals

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

Mecum Collector Car Auctioneers

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.

National Corvette Museum

Corvette Museum Auctions Parts on eBay

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2008 Corvette Convertible

It’s awards season again and no I’m not talking about the Oscars. Intellichoice crunched the numbers once again and Chevrolet scored three out of eight categories. Winning the category of Best Car Value over $24,000 was the 2008 Corvette Convertible. The Chevrolet Silverado 1500 Extended Cab 4WD won Best Truck Value over $27,000 and the Chevrolet Express 1500 won the Best Van Value over $25,000. The Toyota Prius won the Best Car Value under $24,000.

The Best Overall Value of the Year awards are given to those vehicles that deliver outstanding value and lower than expected costs. Intellichoice evaluates what it costs to own and operate a vehicle over time and category winners are recognized for their lower cost of ownership compared to other competitive models in the same class.

The 2008 Corvette Convertible was also named as Best Overall Value in the Sport class. Check out the full list at


Corvette Makes Car & Driver’s 2008 10 Best Cars List

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427 Corvette Z06 is telling us a new limited edition “427″ Corvette Z06 will be unveiled Thursday by General Motors at the Chicago Auto Show. The 427 Corvette Z06 is a trim package with the following options:

  • Crystal Red Metallic (89U) Tintcoat
  • Special Dark Titanium custom leather wrapped interior trim
  • 427 logo embroidered on seat backs and floor mats
  • Hydrographic patterned center trim plate
  • Unique chrome wheels
  • Special graphics package
  • Individually signed and numbered covered armrest
  • Certificate of Authenticity

The 427 Corvette Z06 is another “signature” edition, this time featuring the penmanship of outgoing Corvette assembly plant manager Will Cooksey who retires on March 1st. GM is already set to produce 500 30th Anniversary Indianapolis 500 Pace Car replicas with Emerson Fittipaldi’s signature.

A second source claims the special chrome wheels on the 427 Corvette Z06 will be one of the wheel options on 2009 Corvettes. We’ll have more details once GM makes the announcement.


Two Unique Corvettes to Pace the 2008 Indianapolis 500

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Corvette Summer Dream Turns Into Nightmare

by Keith Cornett on February 5, 2008

I’m debating on filing this post under “Corvette Accidents” because something went terribly wrong during the restoration of this C3 Corvette. It looks like the beginnings of a Corvette Summer replica car, especially with the nose and the Chevy Bow-tie rearend. But for whatever reason, the customization was stopped and this Corvette was trailered to the NCRS Winter Regional in Kissimmee, Florida last month where it sat with a for sale sign: $2,500.00 OBO – With motor and trans”.

Custom Corvette for sale at NCRS Winter Regional! Custom Corvette for sale at NCRS Winter Regional Custom Corvette for sale at NCRS Winter Regional
I took these photos around mid-morning and later that day I happened by and noticed the trailer was empty. I wonder if the buyer was a member of Jay Leno’s More money than brains club.

Corvette Summer Promo Car Sells on eBay
Video: In the Garage – V1.2

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January 2008 Corvette Sales

by Keith Cornett on February 4, 2008

January in not typically one of the bigger months for sales of new Corvettes. Having said that, analysis of GM’s delivery stats from January 2008 show sales down from the previous January 2007 at nearly 10% with only 2,015 Corvettes delivered. In fact, there hasn’t been a lower number of deliveries in a month since the introduction of the C6 Corvette began in July 2005 when 1,872 Corvettes were delivered.

2008 Corvette Delivery Statistics
Month Calendar Year-to-Date
Month 2008 2007 % Change Months 2008 2007 % Change
January 2,015 2,234 -9.8% Jan-Jan 2,015 2,234 -9.8%

2007 Corvette Delivery Statistics
Month Calendar Year-to-Date
Month 2007 2006 % Change Months 2007 2006 % Change
January 2,234 2,579 -16.8% Jan-Jan 2,234 2,579 -16.8%
February 2,784 3,058 -9.0% Jan-Feb 5,018 5,637 -11.0%
March 3,158 3,655 -16.7% Jan-Mar 8,176 9,292 -12.0%
April 3,227 3,516 -0.6% Jan-Apr 11,403 12,808 -11.0%
May 3,300 3,317 -4.3% Jan-May 14,703 16,125 -8.8%
June 3,055 2,938 0.1% Jan-Jun 17,758 19,063 -6.8%
July 2,377 2,794 -11.4% Jan-Jul 20,135 21,857 -7.9%
August 2,877 2,990 -3.8% Jan-Aug 23,012 24,842 -7.4%
September 2,837 3,056 -3.5% Jan-Sept 25,849 27,903 -7.4%
October 2,484 2,761 -13.5% Jan-Oct 28,333 30,664 -7.6%
November 2,438 2,773 -12.1% Jan-Nov 30,771 33,437 -8.0%

Corvette Stock Report:
A check of Jeff Hardy’s website shows a total of 5,480 2008 Corvettes on the ground in the following model configurations:

  • 3,145 Corvette Coupes
  • 1,163 Corvette Convertibles
  • 1,172 Corvette Z06

There are still 1,433 new 2007 Corvettes available. Sure, they don’t have the new LS3 and some of the other refinements found in the 2008 Corvette, but these 2007 models are being heavily discounted.


December 2007 Corvette Sales

Former Corvette Chief Engineer Launches Series of Podcasts

by Keith Cornett on February 1, 2008

Dave McLellan in a Corvette ZR-1

Dave McLellan had some pretty big shoes to fill as Corvette’s 2nd Chief Engineer. After the retirement of living legend Zora Arkus-Duntov in 1975, Dave took over the program during what is considered by many to be the low point of Corvette’s history. By the end of his tenure however, not only had a he turned around the Corvette with the successful launch of the new C4 Corvette in 1984, he may have single handedly reignited the horsepower wars with the development and introduction of the 375 hp Corvette ZR-1 in 1990. Dave’s tenure as Corvette Chief ended in 1992 when he stepped down after 33 years at GM and the baton was passed to Dave Hill.

Dave McLellan’s latest venture is the launch of a new website and podcast series called I met Dave McLellan at the NCRS show in Kissimmee in January and listened to a discussion he was having with enthusiasts on the development of the C4 Corvette ZR-1. With his impact felt in three separate Corvette generations – the C3, C4 and C5, Dave’s experience within GM and his current contacts should provide valuable insight – not only into Corvettes of the past – but future Corvettes as well.

The first podcast on his new site focuses on one of the more persistant rumors surrounding a future Corvette design – the midengine Corvette. Taking us through the previous midengine designs, the Cerv-1, Cerv-2 and the New York Show Car, we learn that GM has had an eye on that type of design configuration for quite some time. But other than John Delorean, there has been little support at the top of GM to push the program further – let alone a call from the Corvette enthusiast community to make it happen. Lastly, one of the insights I found most interesting is that Dave doesn’t accept the premise that a midengined Corvette would cost too much – something we keep hearing as the primary obsticle that would be needed to be overcome for production to happen.

You can hear Dave McLellan’s first podcast at


Video: In the Garage – V1.2
Former Corvette Engineering Chief to Launch Podcast Technorati Tags:
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Featured Corvettes for Sale at

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 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
1967 Convertible
1974 T-Top
1990 Corvette Coupe For Sale 2004 Corvette Coupe For Sale 2008 Corvette Convertible For Sale
1990 ZR-1 Coupe
2004 Coupe
2008 Convertible

Selling Your Corvette? Now is the time and 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.


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 as their featured Corvette website in their latest email newsletter. 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, 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.

Corvette Market

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

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