2007 Market Analysis

Annual Review of Corvette Prices in 2007

BY: Bob Kroupa of Vette-N-Vestments

The 2007 'Corvette' calendar was quite interesting in many ways. We particularly noted record prices for quality, documented first and second generation Corvettes. More and more of these models have been restored and brought to market, many with NCRS certification and Bloomington Gold Awards in tow. These vehicles continue to sell at top dollar while those termed in 'average' condition are showing somewhat positive results, however not in the double digit appreciation results we have see over the past few years.

Rare low production numbered Vettes continue to sell at record prices including late models. A classic example is the 1996 Grand Sport holding the #2 spot on our appreciation chart.

A brief word on our top and bottom charts. These results are direct from our 2008 Price Guide that is now available and included with all renewal subscriptions.

The 1953 Corvette has shown astronomical results and was the hot ticket during 2007. Normally one or two surface each year, however, several were sold during the year at record prices.

The same holds true for the 1996 Grand Sport, a limited production Corvette made up of 190 Roadster and 810 Coupes. We noted a number sold with mileage numbers under the 300 mark.

The 1955 Corvette, another low production Corvette with only 700 built holds down the number three spot on the chart.

Much to our surprise, the 1954 model is caught up in the 1953 Corvette hype and has become a ‘tag-along’. However, in defense of the 1954 Roadster's appreciation, we note that it does offer three rare factory paint colors, Black, Red and Blue.

The popularity of the first generation continues with the unique body panels and trim of the 1958. The 1956 model, which follows in the Top Ten sequence for appreciation, was the first to offer an eight cylinder motor coupled with a manual transmission.

Two mid-year Corvettes are listed on the chart as well, the 1963 Coupe had been undervalued in recent years even though the split-window continues to draw special attention to this Corvette.

The mid-year icon, the 1967 Roadster, also makes a repeat appearance on this list. When one mentions mid-year Corvettes those words are usually followed by, "is or was it a 1967 Corvette".

Three third generation Corvettes are on the chart and moving up in value. Many of the buyers recognize they cannot afford first and second generation Corvettes and are purchasing chrome bumper Corvettes that have numerous motor options and continued appreciation results.

Scanning the above chart, it should not come as a surprise to see the fifth generation Corvettes holding all ten positions. The norm for newer Corvettes is to reflect double-digit depreciation for some years, followed by single-digit depreciation for several more years and finally cross over in the appreciation area.

Virtually all of the C5s showed double-digit depreciation last year. We expect the early models in the series to drop to single-digit depreciation this year. The Z06s were most notable on the chart. As stated before, they don’t provide 'open' cabin driving. From a horsepower perspective, the standard sixth generation Corvettes are comparable.

A word on the Price Guide, we periodically review other price guides and find many show prices that are not realistic. In fact, we would be in the market to buy numerous Corvettes if those price guides could direct us to Corvettes that are reflected in their results.

As an example, look at the 1963 model year. Our 2008 Price Guide shows the Roadster in average condition as selling for $39,000 and the Coupe at $49,900. Another guide listed a Roadster in average condition for $24,750 and the Coupe at $24,300! Remarkable differences.

At the other end of the sales price spectrum we found another guide that showed the average 1963 Roadster selling for $61,750 with the Coupe at $74,325. Again, remarkable.

Yet another guide showed that same vintage Roadster at $36,000 and the Coupe at $38,000.

All we can say is that our results are from actual sales we record in the auction ring, noting every sales bid.

NOBODY PROVIDES MORE COMPLETE, CURRENT AUCTION RESULTS THAN VETTE-N-VESTMENTS – NOBODY!

Following are highlights from the 2007 VETTE- N-VESTMENTS CORVETTE PRICE GUIDE data:

1953-1962: This generation is the appreciation trend leader for the Corvette resale market. Appreciation results are from +6% to +192% - quite a range. At 6% there was the 1961 model at an average price of $44,000. Most of the first generation Corvette information was covered in the appreciation overview. We expect these models to continue as the appreciation leaders in 2008.

1963-1967: The mid-years will always be a popular series with the Corvette enthusiast. The unfortunate results of this popularity is that they are becoming out of purchase range for the average Corvette buyer. The appreciation range was between +6 - +19% with several models in the 6% column. The 1964 Coupe continues as the entry level for this series at an average price of $33,500 and shows a 6% appreciation factor.

1968-1982: The average price range for this generation was from $9,200 (1978 T-Top) to $27,900 (1969 Roadster). The appreciation range reflected from a position of 'No Change' to +17% as shown on our chart. Only one model reflected depreciation, the 1982 Collector at an average price of $18,000 that reflected a (-4%) change.

1984-1996: In this category, excluding the Grand Sport models, seventeen of the models are showing appreciation numbers in average price of +1% to +9%. An example of this group at +9% was the 1990 ZR1. In the negative department, the range was (-1%) to (-13%) where the (- 13%) depreciation representative was the 1987 Roadster. Average prices spanned from $8,700 (1984 Coupe) to $41,700 (1995 ZR1).

1997-2004: The prices of the early models in this generation (1997-2000) were below the $20,000 mark. At these kinds of prices one buys a considerable amount of Corvette performance, handling, technology and comfort and convenience features. These may become the entry level Corvettes for first time buyers. None have yet been identified as showing appreciation, however the 1999 first year Hard Top is showing a (-6%) depreciation factor rather then double-digits at $17,900.

2005-2008: The Coupes in this series are showing single-digit depreciation of (-6%) to (-9%). The 2006 Roadster and 2006 Z06 are at (-10%) and (-11%). If past history is any indication, we expect all models to reflect double-digit depreciation during this year.

Available Now:

The 2008 Price Guide with Appreciation/Depreciation figures for 1, 2 and 5 Years

	The 2008 Price Guide features: 121 Corvette Models and Special Editions. High / Low / Average 2008 Sales Prices. 1, 2 & 5 Year Appreciation/Depreciation Figures. Pricing for Optional Equipment including Motors AC, Tops and Wheels. A must for any Corvette collector or enthusiast! Price: $15.00 - Free Shipping! Click Here to Order

As indicated in our 2007 year review, you should consider subscribing to our monthly Vette-N-Vestments Corvette Market Letter. It provides complete results from major Corvette auctions (engine, transmission, options data, condition, and sales prices, plus more, for each Corvette auctioned.) The market letter also provides the latest Corvette news, vintage articles, price charts, and more. Combined with the Corvette Price Guide, only $50 + free shipping!

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