This SlideShowPro photo gallery requires the Flash Player plugin and a web browser with JavaScript enabled.

Auction Results: Mecum High Performance Auction

by Keith Cornett on October 24, 2006

1967 Corvette ConvertibleThe 11th Annual Mecum High Performance Auction was held at the Pheasant Run Resort in St. Charles, Illinois over the weekend of October 6th-8th and Corvettes were well represented. Over 100 Corvettes were included, from a 1954 convertible through a 2003 Z06 Corvette in the 700+ car auction and Corvette sales totaled $2.7 million. The high sale went to a 1967 Bloomington Gold 427/435 Convertible sold for $204,750 which includes the sales commission. A 1969 L-88 Corvette sold for $194,250 and the third highest sale of $183,750 went to another Bloomington Gold certified 1967 427/435 Sunfire Yellow Convertible. Here are the Corvette Results from the Mecum High Performance Auction:

Lot # Year Model Color High Bid Sale Price
F226 1954 Corvette Blue   $85,050
S228 1956 Corvette Blue   $92,400
S80 1957 Corvette Green $95,000  
F106.1 1959 Corvette Blue   $35,700
F224 1959 Corvette Black   $66,150
S96 1960 Corvette Red   $74,550
S123 1960 Corvette Black   $99,750
S65 1961 Corvette White $77,000  
U148 1961 Corvette Red $39,000  
F195 1962 Corvette Red $60,000  
F216 1962 Corvette Maroon   $59,588
F227 1962 Corvette Red   $57,750
S99 1962 Corvette White $120,000  
S140 1962 Corvette White $85,000  
S231.1 1962 Corvette White   $74,025
F127 1963 Corvette Red   $47,250
F263 1963 Corvette Red $62,500  
S170 1963 Corvette Red   $103,950
S171.1 1963 Corvette Blue $67,500  
S201 1963 Corvette Red   $76,650
S280 1963 Corvette Silver/Blue   $47,250
S162 1964 Corvette Big Tank Tan $80,000  
S269 1964 Corvette Red $38,000  
U91 1964 Corvette White $41,000  
F165 1965 Corvette Silver   $60,900
F175 1965 Corvette Red $68,000  
F191 1965 Corvette Maroon $50,000  
F203 1965 Corvette Maroon $60,000  
F265 1965 Corvette Red   $57,750
S39 1965 Corvette Silver $72,000  
S103 1965 Corvette Red $120,000  
S216 1965 Corvette Black   $75,750
U77 1965 Corvette White $41,000  
U78 1965 Corvette Red $46,000  
F121.1 1966 Corvette Green   $52,500
F137 1966 Corvette Blue $72,000  
F266 1966 Corvette Yellow   $27,825
S125 1966 Corvette Black   $131,250
S156 1966 Corvette White   $71,400
S170.1 1966 Corvette Maroon $88,000  
S175 1966 Corvette Black $70,000  
F254 1967 Corvette Yellow   $42,000
S44 1967 Corvette Maroon   $65,625
S69 1967 Corvette Blue $67,500  
S82 1967 Corvette Silver $120,000  
S91 1967 Corvette Yellow   $183,750
S98 1967 Corvette Red $105,000  
S120 1967 Corvette Blue   $204,750
S134 1967 Corvette Blue   $94,500
S171 1967 Corvette Red $150,000  
S172 1967 Corvette Yellow $125,000  
S173 1967 Corvette Red $120,000  
S36 1968 Corvette Red $28,000  
S270 1968 Corvette Blue $39,000  
U83.1 1968 Corvette Red $28,000  
F261 1969 Corvette Black   $42,000
S86 1969 Corvette L-88 Gold   $194,250
S191 1969 Corvette White $45,000  
S232 1969 Corvette Orange   $37,800
U83 1969 Corvette Gold $28,000  
F240 1970 Corvette Yellow $52,500  
F270 1970 Corvette Gray   $17,063
S273 1970 Corvette Red   $33,075
F241 1971 Corvette Orange $92,000  
S19 1971 Corvette Blue   $24,675
S24 1971 Corvette Red   $21,525
F64 1972 Corvette White   $22,575
U94 1972 Corvette Silver $45,150  
U104 1972 Corvette Yellow   $9,750
F268 1973 Corvette Blue   $26,250
U133 1973 Corvette Silver   $9,000
U159 1973 Corvette Gold $26,500  
F76 1974 Corvette White   $18,638
U34 1974 Corvette White   $7,400
F72 1975 Corvette Silver   $8,800
F242 1975 Corvette Silver   $44,100
U168 1975 Corvette Orange   $10,500
U112 1977 Corvette Red   “$8,500
U139 1977 Corvette White $9,300  
F12 1978 Corvette Oyster   $13,125
F269 1978 Corvette Silver   $13,650
S233 1978 Corvette Silver   $24,675
F3 1979 Corvette Black   $7,250
U115 1981 Corvette Maroon   $8,400
U152 1981 Corvette Silver   $8,700
F47 1982 Corvette Blue   $14,963
U131 1984 Corvette Silver   $5,550
F248 1986 Corvette Black   $13,125
U1 1986 Corvette Silver   $10,250
U26.1 1986 Corvette Red   $11,025
F278 1990 Corvette White   $5,550
U53 1990 Corvette Red   $14,175
U98 1990 Corvette Burgundy   $16,275
F116.1 1992 Corvette White   $21,000
F276 1993 Corvette Black $12,750  
S287 1995 Corvette Red $20,000  
U128.1 1995 Corvette Aqua $13,000  
F79 1996 Corvette LT-1 Purple   $18,375
F103 1996 Corvette Blue $38,000  
F101 1999 Corvette Mallett Red $39,000  
U119 2003 Corvette Z06 Yellow   $30,900
           
    Total Corvette Sales:   $2,760,952
Source: Mecum

My Corvette Museum New Member’s Kit

by Keith Cornett on October 23, 2006

After posting a story about the National Corvette Museum’s ambitious expansion plans last week, I decided to officially join the Museum. It’s been one of those things that I’ve been meaning to do for quite a while now, but for whatever reason, I never took the plunge. So I went to the Museum’s new member signup area and joined online, donating $100 for a one year family membership. The NCM is a 501c3 organization so all membership fees and donations are tax deductible. On Saturday, I received my New Member Kit. When I opened the kit, the first thing I see is a welcome letter and another letter detailing some of the functions of the NCM. That letter had my membership cards attached. A Membership Certificate personalized with my name, member number and date of membership was also included. Also included are five brochures about the Corvette Museum: Location and Hours of Operation, Become A Member, The Flint Brick and NCM Brick Programs, and the R8C New Corvette Museum Delivery Option. An NCM Raffle Ticket order form and a Build Sheet/Window Sticker Order form was inserted into the kit. Finally, a pocket-sized 2007 calendar with NCM Events, a static NCM Member window decal and an NCM Member’s Pin completed the package.

NCM New Member's Kit Certificate of Membership NCM Member's Pin
I have never visited the National Corvette Museum, and it is becoming somewhat of a joke for the people who know me as every time I get close to going, it’s either an inopportune moment or changes in plans that keeps me away. I was just in Lexington last week, but once again unable to make the trip to Bowling Green to visit my personal Graceland. But just because I could never, ever seem to make the visit shouldn’t have kept me from becoming a member and it shouldn’t stop you either if you love Corvettes. Your member dues support the Museum’s day-to-day activities and enable the NCM to change and update exhibits that continually showcase the proud heritage of the Corvette. And again, if you haven’t seen the expansion plan video yet, you’re missing the total picture of what the National Corvette Museum is all about. I urge you to view it. And after you view it and see what the NCM is all about now and in the future, I challenge you to become a member as well.
Technorati Tags: |

Corvette Racing Sweeps ALMS Championships

by Keith Cornett on October 22, 2006

Corvette Racing capped Corvette’s 50th anniversary in international road racing by sweeping the American Le Mans Series manufacturers, drivers and team championships in tonight’s season finale at Mazda Raceway Laguna Seca. A runner-up finish by Oliver Gavin and Olivier Beretta in the No. 4 Compuware Corvette C6.R at the Monterey Sports Car Championships wrapped up Chevrolet’s sixth consecutive manufacturers’ title and gave the pair their second straight drivers championship. The four-hour race was hard fought from the green flag as all four GT1 contenders finished within one lap of each other. The Aston Martin DBR9 of Stephane Sarrazin and Pedro Lamy won by 4.945 seconds over Gavin and Beretta, while the No. 3 Compuware Corvette C6.R of Johnny O’Connell and Ron Fellows took third place by .474 seconds over the Aston Martin of Tomas Enge and Darren Turner. “It’s fantastic that we’ve won the championships again,” said Gavin. “This season has had some ups and downs, some great racing and some frustrating racing, and in the end we’ve come through.” “It was really close at the finish and we didn’t know whether Olivier was going to be able to catch Stephane,” Gavin continued. “He got close but then hit traffic, and then we just ran out of time.” Beretta had the best seat in the house after passing his teammate O’Connell for second in the Corkscrew with 13 minutes to go. “The final stint was amazing,” said Beretta. “We had two options today – Olly and I knew we just had to finish the race to win the drivers championship, and on the other hand we really wanted to push hard and win the manufacturers championship for Chevrolet. So I tried to forget about the drivers championship and push hard to show that Corvette was still No. 1 even with all of the handicaps we have been given this year. Corvette Racing is a great team and they gave me a great car. This is my fourth ALMS championship, but this one is the sweetest.” The race almost went awry for the No. 4 Corvette at the start when Beretta was hit from behind by a Ferrari, damaging the left-rear fender. Two laps later, a fortuitous caution period allowed the pit crew to reattach the fender without losing contact with the leaders. Then shortly after the first hour, Beretta passed Lamy for the GT1 lead. For the next 20 minutes, the GT1 contenders ran nose-to-tail in a four-car freight train. “That was a tough race against a tough competitor,” said team manager Gary Pratt. “When the No. 4 car was hit and then the caution came out I said to myself, ‘This is going to be our lucky day.’ We got it fixed and went right back out there and raced them again.” The race become a strategic chess match when the two Corvettes made their fifth and final pit stops under caution at the 2-hour, 48-minute mark, ensuring that both cars could run to the finish without another stop. When the class-leading No. 007 Aston Martin pitted with a flat tire at 3:16, the championships were virtually clinched as the Corvettes were running comfortably in second and third. O’Connell relentlessly cut the No. 009 Aston Martin’s advantage by a second a lap, passing for the lead in Turn 11 with 27 minutes remaining – but the Aston countered and regained the lead going into Turn 2. “It was a great battle,” O’Connell declared. “We got by them, he got back by me, and then I got punted by one of the prototypes. I thought we might have hurt the car, but we never gave up, and that’s the mantra of Corvette Racing.” “We’ve got a whole winter to train and I’m looking forward to next year,” O’Connell continued. “With all of the challenges that were presented to Corvette Racing this year, for Chevrolet to win the manufacturers championship and for the No. 4 car to get the drivers championship says a lot about the depth of this team.” Corvette Racing program manager Doug Fehan agreed: “As I said before it started, it was going to come down to who made the fewest mistakes and who had the best strategy. We planned our pit strategy to set up for a long final run. It worked to our benefit, and securing second and third was what we needed to clinch the manufacturers championship.” “Winning this championship for the sixth straight year sends a tremendous message about the durability, reliability and performance of Corvette, Chevrolet and all General Motors products,” said Fehan. “It’s a testament to how hard this race team works.” Corvette’s first class victory at the 12 Hours of Sebring in 1956 was the first step onto the world stage that established Chevy’s sports car as a contender in top-level competition. “Winning the American Le Mans Series championship puts an exclamation point on Corvette’s 50th anniversary in international road racing,” said Ed Peper, Chevrolet general manager. “We began the year with a victory in Sebring, the site of Corvette’s first major win in 1956. In June we celebrated Corvette’s fifth win in the 24 Hours of Le Mans, the world’s greatest sports car race. Now with this championship performance today at Laguna Seca, we’ve again shown why racing is such an important part of Corvette’s heritage. On behalf of the entire Chevrolet organization, I congratulate the drivers, mechanics, engineers, support personnel and team managers of Corvette Racing. They’re the best in the business, and they proved it again today.” The 2007 American Le Mans Series will begin with the season-opening Mobil 1 Twelve Hours of Sebring in Sebring, Fla., on Saturday, March 17, 2007. The 12-hour endurance race will be televised live on SPEED. Source: CorvetteRacing.com
Technorati Tags: | |

A V6 Corvette? Hell No Chevy!!!

by Keith Cornett on October 20, 2006

A Kappa-Platform Corvette?Jesus, I go out of town for a couple of days, and the Corvette world just goes to pieces. CorvetteConti.com drops the bomb that his inside sources say yes to a V6 powered kappa platform vehicle wearing a Corvette badge. While Corvettes in the past have offered buyers significantly different powerplants in the past (small blocks and big blocks), this would be a radical departure for Chevrolet: Two completely separate body style models. One the regular Corvette, the other is a mini-vette built on the kappa platform (think Pontiac Solstice or Saturn Sky),

There has always been talk of an entry level model for Corvettes. The car is a money-maker, it’s got history and enthusiasts that live and breathe Corvette. The success of the Solstice is fueling this effort and the geniuses are GM are probably trying to figure out how they can get a kappa platform for Chevrolet without competing with Corvette. Previous efforts for an entry-level Corvette never really materialized. Conti reminds us that the 99 Hardtop was supposed to be a stripped down Corvette with less power, 17 inch wheels and cloth seats. Thankfully someone (Dave Hill?) stepped in and instead the Z06 was unleashed as the hardtop model.

The only reason Chevy would want to call this car a Corvette is for name recognition. We are in New Coke territory here, folks. Nothing else about this car screams Corvette. Instead of mucking (put an F on it!) up the name of the greatest American Sports Car in history, why not just dig deep into the recesses of Chevy musclecardome and bring back something nostalgic like the Chevelle or Nova. Both are names that lend themselves to performance and affordability, and both names would be seen as Chevy trying to bring Sexy Back like they’ve done with the Camaro.

You boys at Chevrolet better get this right the first or there will be hell to pay from your loyal base. While Corvette people are some of the greatest in the world, this mini-vette and the people that drive it would initially be shunned. That’s right, you can drive your kappa Corvette, but you have to eat lunch at the kids table. Only grownups are allowed at the REAL Corvette table.


Source:
CorvetteConti.com

 

About the Five Factors Series

by Keith Cornett on October 19, 2006

I was pulled out of town unexpectedly earlier this week on a family emergency. I had originally planned to post this series over five consecutive days. However, they are a tad wordy so I have decided to break them up a bit. I am planning to post the Options and Originality Factors next week and then should be able to conclude the series with a look at Market Forces the following week. Thanks – Keith

Five Factors That Drive Corvette Values – Condition

by Keith Cornett on October 17, 2006

This is the second of our five-part series where we take an in depth look at the factors that drive Corvette values. Yesterday, we looked at the Quantity Factor. Today, our attention turns to Condition. Like any used car, pricing and valuations are based on the Corvette’s present condition at the time of the sale. Many like to use the 1 to 5 scale with 1 or C1 (Condition 1) being excellent, show quality and 5 or C5 (Condition 5) being a project car that is usually not running or unassembled in some fashion. Pricing between these points on the scale can vary wildly so it is important to know what your chosen Corvette model can be purchased for at any point on the condition scale. Most of the price guides will give you an idea as to what the price should be along each point of the scale or at the very least, a High, Low and Average figure. Corvettes that have been restored are generally classified as excellent, show condition. They are usually a 1 or 2 on the Condition Scale. There are usually two types of restorations. Frame-off or Body-off restorations refer to the car being completely torn down with all components and body panels removed from the frame, and then reassembled. A Body-On restoration refers to a Corvette that may have had as complete a restoration as possible without removing the body panels from the frame. Some Corvettes may have been restored several years prior and are sometimes referred to as an older restoration. These Corvettes may be a 2 or even a 3 on the Condition Scale. Then there are the Corvettes have been so well taken care of, that restoration may not be needed. At the Bloomington Gold Corvette Show, a separate class called Survivor was created for these unrestored, original Corvettes. While a Survivor Corvette may not be as polished as a restored Corvette, make no mistake that the condition of a Survivor Corvette’s value based on condition may just as well make it as valuable as that of one that has recently went through a frame-off restoration. Lastly, there is the Project Corvette. Oh yes, the project car, with all its potential and a seductively low price that can lure you in and trap you. Unless you are experienced in the mechanical and body issues that a project Corvette will have, as well as having the budget, you are best advised to leave these examples to the professionals. Many times you’ll be looking at Corvettes for sale and come across an ad for a “freshly restored” model, but the price seems to be thousands more than Corvettes in similar condition. This pricing anomaly could be the result of someone who got into a project and ended up spending way more than Corvette is worth. On Wednesday, our attention turns to Options. The Five Factors that Drive Corvette Values:
Part One: Quantity
Part Two: Condition
Part Three: Options

Five Factors That Drive Corvette Values – Quantity

by Keith Cornett on October 16, 2006

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.

Total Corvette Production Statistics 1963 Corvette Split-Window Coupe 1979 Corvette T-Top Coupe
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

Coming Monday: Five Factors That Drive Corvette Prices

by Keith Cornett on October 13, 2006

On Monday, October 16th, we will be kicking off a five-part series entitled “The Five Factors That Drive Corvette Prices”. This in depth look at Corvette pricing and valuations will run through Friday, October 20th. Here is a preview:

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.
See you on Monday!
Technorati Tags:

Featured Corvettes at VetteFinders.com

by Keith Cornett on October 13, 2006

October is upon us. Keep winter at bay by cruising in your new Corvette. If you’ve been dreaming about getting behind the wheel of a Corvette, there is no better place to start looking than VetteFinders.com. The following six cars were highlighted in our October Featured Corvettes Newsletter which is just a small sampling of the 500+ Corvettes now available.

1958 Corvette Convertible For Sale 1966 Corvette Coupe For Sale 1971 Corvette Coupe For Sale
1958 Convertible 1966 Coupe 1971 Coupe
$59,995 $44,490 $14,900
     
1996 Corvette Convertible For Sale 2003 Corvette Hardtop For Sale 2006 Corvette Convertible For Sale
1996 Convertible 2003 Z06 2006 Convertible
$18,900 $38,900 $52,995
Interested in receiving the Featured Corvettes newsletter? Click here to subscribe. 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.
Technorati Tags: |

Video: Corvette Museum Details Expansion Plans

by Keith Cornett on October 12, 2006

The National Corvette Museum's Expansion PlansThe National Corvette Museum unveiled their 50,000 square foot expansion plans at the annual membership meeting over Labor Day Weekend. The expansion includes a library and archives, a cafe, conference center and additional space for the Delivery program. The cost of the expansion is expected to cost around $12 million dollars. The Building Campaign fund currently stands at over $2.4 million dollars in pledges and donations. With groundbreaking planned for Labor Day Weekend 2007, the museum is busy soliciting donations to determine the amount of the square footage that will be included in Phase 1 of construction. The video contains the plans for the museum and how the expansion will be integrated into the current structure. It also shows architectural representations of how the space will be allocated. I will be contacting the museum to discuss our building fund contribution and I urge all Corvette supporters to do the same. Here is the link if you are interested in helping the National Corvette Museum with a tax deductible gift to the building fund. Source: National Corvette Museum Editor’s Note:We did have the video embedded on the site but it was causing problems with loading the rest of the page. We removed the embed code and replaced it with a link to the Museum. The video can be viewed here.
Technorati Tags: |