We’ve been hearing a lot lately about how the 2020 Corvette could be an instant collector car due to the UAW Strike and Coronavirus shutdowns that have kept current quantities of the new mid-engine sportscar under 2,700 units. We debunked the idea that Chevrolet would be shelving the 2020 model year once the coronavirus lockdown was lifted and Chevrolet’s own PR department flat out stated that once production resumes, more 2020 Corvettes will be made.
We caught this article on Yahoo Autos today about how the 2020 Corvette was now an “instant collectible” (we would argue that it always was) due to the model year’s low production count. Within the story was how someday “the 2020 Corvette could be mentioned in the same conversation of collectibility as the 1963 split window, 1996 Grand Sport and maybe even the C3 L-88.” That’s all well and good, but each of these models are special to collectors for their own reasons: the 1963 Split-window featured a one-year design, the 1996 Grand Sports (and its one-year LT4 motor) were a limited edition subset of all 1996 production, and the C3 L88s were limited to just 196 quantities.
As the 2020 models will be nearly identical to the 2021 models planned (you can see the rumored changes here), and there were no limited or special editions of the 2020 Corvette, so other than individual options, there is nothing that will really make the 2020 models stand above the newer models as they are introduced.
On Monday we posted a 2009 Corvette ZR1 pilot line car #10 that is listed for sale on the Corvette Forum for $55,000. That ZR1 was the first of the Blue Devils to get the Ebony Interior and being resale Red doesn’t hurt it all. Chevrolet produced 1,415 examples of the first-year supercharged ZR1 and the collectors jumped all over themselves to get one. As for this particular ZR1, in 11 years of ownership, the value of the car has dropped 54%. This isn’t a one-off example as we’ve been following the declining prices of the C6 ZR1 for some time.
Go back even further and look at the 1990 Corvette ZR-1s and how much low-mileage examples are fetching today. Chevrolet built 3,049 examples of the DOHC-powered ZR-1 and Hagarty’s Valuator shows that a #1 Concours quality example is $43,000 – still $20,000 less than the original MSRP. And let me ask you this question. Would you rather have the 1st year example where Chevy made 3000 units and the LT5’s horsepower was 375 or is the final year of the ZR-1 more desirable with it’s lower quantity of 448 produced and it has 405-hp to boot? If you said the 1995 model, you are correct. Hagerty shows a $51,000 value on the 1995 Corvette ZR-1s.
Buying a new car and storing it for hopes of big money down the road just doesn’t seem to be the greatest financial plan. However, there is a way to realize a huge return on your investment of a new 2020 Corvette Stingray and that’s to sell it right now when demand for the car is absolutely at its highest peak. It’s currently the car that nobody can get, and if you have one, now is the perfect time to let it go.
We’ve already seen examples of the new 2020 Corvettes on eBay and other sales platforms and the cars are bringing in huge dollars with some selling for $20,000-$30,000 over the MSRP paid by the original buyer. While we have a certain disdain for dealers who mark-up the car, we hold no grudge for the individual who decides to drive the car for a month and then let it go at a profit. By our count, there are currently 25 new mid-engine Corvette Stingrays listed for sale on eBay.
So there you have it from someone who has been watching Corvette prices for the last 25 years. If you want to make money on a 2020 Corvette, sell it today for the best return!
Source:
Autos.Yahoo.com
Related:
Corvettes for Sale: 2009 Corvette ZR1 Pilot Car Available for $55K
STUDY: Corvette Ranks 3rd Lowest in Five-Year Depreciation
Big Money Lost on the Sale of this 1996 Corvette Grand Sport
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Totally agree. The only way a car is an investment is if you do what those ebay folks are doing. Otherwise, it’s transportation. The advantage that a Corvette or similar car has is that it is fun to own and to drive, so if you own one — drive it! Or if you are looking to make money, sell it and get an IRA. Even in the current economic climate, the IRA is a better investment.
In general, I agree. I will add that certain 1953’s are worth a lot of money. The first year ever of the first Corvette. I would speculate here just off the top of my head that the operative word or concept here, is, “First.” In a sense, models are just that: models. First of this and that, is not really, “First year.” The C8 is the 8th generation Corvette. However, unlike all of the other revisions and special models regardless of production, in terms of the car, they were still front engine, rear wheel drive with a number of stick shifts and automatic transmissions to add to their history. Whatever else the C8 is, it is different from every example in your article (the content of which I agree with). This is the first Corvette with the aluminum central structure; first Corvette with mid-engine placement (with the front to rear weight ratio listed); it is the first Corvette with the Tremec 8-speed Dual Clutch Transmission; the first Corvette with both front and rear trunks; the first Corvette with an electronic governor for the 500 mile initial break-in period and I believe the first Corvette with a front axle lift for the front end, Clearance Assist (C) (all rights reserved to this terminology by Alex Ford, [email protected] for permissions, here on May 13, 2020), and it is the first year to offer an electric convertible hardtop with power assist to deploy from storage in the car to in place while driving 30+ miles per hour, as well as the ability to reverse the process also while driving. Essentially, this is the second iteration of the Corvette and first since 1953 to ber an all-new car (except for the levers to remove the coupe top).
As mentioned, I agree with your article. However there is a lot to be said for being first, even if it is an 8th generation of the original iteration. To some it is the introduction, also, of the first-ever reachable, mass-produced, auto company of the USA, to provide a, “Supercar,” for the masses. AF
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