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6 Corvette Market $57k Complete Scottsdale Coverage—134 'Vettes Rated Keith Martin's The Insider's Guide to Collecting, Investing, Values, and Trends Callaway C12: Corvette Supercar Winter 2009 Mecum Sells 1963 Gulf One Z06 Racer for $1.1m Exclusive Callaway Interview—Z06.R Wins FIA GT3 $286k DR-1 Concept Leads GM Heritage Fleet at B-J www.vettemarket.com


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Corvette Market Keith Martin's Volume 2 . Issue 6 . Winter 2009 24 Gulf One: The Flying Dentist returns Profiles C1 1962 Resto-Mod—$104,500 22 by John L. Stein C2 1963 327/360 Z06 Coupe “Gulf One”—$1,113,000 24 by Thomas Glatch “This was a landmark sale for a Z06, the first to cross the million-dollar line, and only the second mid-year Corvette to do so.” 1963 Grand Sport #002 Roadster—No Sale “As you can imagine, nearly every high-end Corvette junkie in the world was in the room to watch the car, and all of them were hoping for a record.” 26 by Michael Pierce On the Cover: 1998 Callaway C12 Coupe. Photo Gooding & Company and Pawel Litwinsky 4 Corvette Market WINTER 2009 www.vettemarket.com “While we don't know what state this particular car was in prior to modification, we do know it was a nice example when it rolled across the block.” C3 1971 350/330 LT-1 Coupe—$51,700 28 by Roy Sinor C4 Ten from GM's Heritage Fleet 30 by Thomas Glatch “Even though it was the only LT-1 present at BarrettJackson, it would have compared well with any other restored examples, anywhere.” “Pre-production cars rarely see the light of day, and most are destroyed either during development or after they are no longer needed.” C5 1998 Callaway C12 Coupe—$57,200 32 by John L. Stein C6 Mini Profiles of Five 2005 Coupes 34 by Geoff Archer ”Driving this Callaway is like commanding the road—and the attention of every motorist and pedestrian, too.” “High-line cars of all makes have been spanked over the past six months. Too bad they don't make a Head Up Display for economic indicators...”


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Market Reports 38 Barrett-Jackson, Scottsdale, AZ 127 Corvettes bring $9.8m in the desert by Paul Duchene, Jim Pickering, and Dan Grunwald 48 Russo and Steele, Scottsdale, AZ 23 Corvettes sell for $1.6m by B. Mitchell Carlson 54 Mecum, Kissimmee, FL At $1.1m, Gulf One leads the way as 86 Corvettes sell for $4.9m by Dale Novak 64 Global Roundup 65 Corvettes from 18 auctions total $2m by CM Market Analysts Features 16 CM Insider's Seminar: The Corvette market in 2009 18 Callaway Competition: Bringing the fight to Europe in FIA GT3 20 Callaway Cars: Model by model, what to pay 18 American thunder in Europe Departments 6 Publisher's Note 8 Industry Roundtable: Through the lens of Arizona 10 Q&A: More power, chassis details, Corvette pricing 12 Events: Things to do and places to be with your Corvette 13 Auction Calendar 36 Market Overview 76 Trick Stuff: Rebuilt parts, fancy valve covers, race data 78 By The Numbers: Top Sales, November to February 80 Resource Directory 82 Vette-o-bilia: Lord of the (sales award) ring www.vettemarket.com WINTER 2009 Corvette Market 5 Walt Thurn


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Publisher's Note Kicking Tires in the Desert Corvette Market Keith Martin's Volume 2 . Issue 6 . Winter 2009 Publisher Keith Martin Art Director Kirsten Onoday Executive Editor Paul Duchene Managing Editor Stefan Lombard Auction Editor Jim Pickering Auction Analysts B. Mitchell Carlson Linda Clark Tom Glatch Daniel Grunwald John Clucas Norm Mort Contributors Carl Bomstead Marshall Buck Colin Comer John Draneas Peter Frye Mike Mueller Donald Osborne Senior Web Developer Jerret Kinsman Information Technology/ Internet Bryan Wolfe Intern Bloor Redding III Financial Manager Nikki Nalum Operations Manager Jennifer Davis-Shockley Print Media Buyer Wendie Martin Director CM Television Roger Williams ADVERTISING SALES Advertising Executives Ted Alfano This one gets two thumbs up A rizona in January has turned into the greatest Corvette Sell 'n Swap meet in the world. Between the seven auctions that CM analysts covered, more than 300 Corvettes crossed the block. And that doesn't include the various Corvettes parked at various “Cheapskate Corners”—the areas outside nearly every auction where sellers park their cars with “For Sale” signs on them. And unlike some of the major Corvette gatherings, where the majority of the cars are C4s, C5s, and C6s, in Arizona most of the cars were collectible to a greater or lesser extent; C1s, C2s, and C3s ruled the roost. For the first time in 14 years, my schedule allowed me to visit nearly every auction. Plus, we were able to have a second edition of our wildly successful Corvette Market seminar, graciously hosted by Russo and Steele. There's nothing like watching 200 rabid Corvette enthusiasts pepper an all-star panel with questions. The details are on page 16. There's no better way to spend our time In addition to the Corvette seminar, we met with groups of CM and SCM subscribers and had a private tour of the RM and Gooding collections; Terry Lobzun of RM encouraged the CM subscribers to examine the Grand Sport in detail, even down to touching various surfaces. The economy is clearly doing one of its gyrations, and we're finding out that things sim- ply aren't worth what we thought they were a few months ago. This includes stocks, homes, boats, airplanes, and collector cars. But one of the advantages collector cars have over most possessions is that they also provide an excuse for like-minded people to come together. Is there really any better way to spend an afternoon than standing in 75-degree sunshine, kicking tires with a bunch of devoted gearheads, and arguing over whether the stinger on a 427/435 Corvette is “typical” or “atypical?” In the pages of this sixth issue of CM, you can read what our market analysts thought of the sales in Arizona and around the world. What I can report is that the spirit of camaraderie, of a genuine shared affection for Corvettes, is alive and well, and it surmounts the twists and turns of the market. ■ ted.alfano@vettemarket.com 877.219.2605 x 211 Cody Wilson cody.wilson@vettemarket.com 877.219.2605 x 213 SUBSCRIPTIONS Subscriptions Coordinator Mary Artz Subscriptions 877.219.2605 x 204 9 am to 5 pm, M-F service@vettemarket.com 503.253.2234 fax CORRESPONDENCE Phone 503.261.0555 Fax 503.253.2234 General P.O. Box 4797 Portland, Oregon 97208 FedEx/DHL/UPS 401 NE 19th Street, Suite 100 Portland, Oregon 97232 Web www.vettemarket.com 6 Corvette Market WINTER 2009 www.vettemarket.com Corvette Market magazine (ISSN# 1939-6481) is published quarterly by Automotive Investor Media Group, 401 NE 19th Street, Suite 100, Portland, OR 97232. POSTMASTER: Send address changes to Corvette Market, PO Box 4797, Portland, OR 97208. The information in Corvette Market magazine is compiled from a variety of reliable sources. However, we disclaim and deny any responsibility or liability for the timeliness, use, interpretation, accuracy, and completeness of the information presented. All material, data, formats, and intellectual concepts in this issue © 2009 by Keith Martin's Corvette Market, LLC, Automotive Investor Media Group, and Automotive Investor in this format and any other used by Corvette Market magazine. Copyright registered with the United States copyright office. PRINTED IN USA


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Insider's View The current state of the Corvette market Which Corvette Sale Surprised You the Most and What Did It Tell You About the Market? Drew Alcazar President, Russo and Steele, Scottsdale, AZ The most notable thing about this year's Scottsdale Corvette market, particularly at our event, was that things were reasonably stable. I have been saying for years that the best market is one that has incremental growth in value that essentially offsets the costs of ownership. Many sellers in the recent past main- tained wildly optimistic expectations of value. They extrapolated, “My car must be worth at least $XXXX,” simply because a Z06 tanker sold for bazillions at some public auction. On the other hand, buyers were frustrated as well. Just when they thought there was no way to pay a particular price for a car, someone else bought it. These two colliding forces drove the market to a frenzy. What I witnessed in Scottsdale this January was the stabilization of the market with reasonable prices and some excellent dollars spent passionately by astute collectors on the very best, original, numbers-matching, documented cars. Good cars sold for good money; great cars sold for a premium. I believe the hobby is considerably stron- ger now that enthusiasts are well educated, with many sanctioning bodies and information sources at hand to accurately determine the correct value of our beloved Corvettes. A stable marketplace is a healthy one—with collectors still passionately buying the best of the best. This will allow the true “collector grade” Corvettes to rise to the top, and that is a welcome surprise. David Gooding President, Gooding & Company, Santa Monica, CA The Corvette market parallels the rest of the classic car market, as testified by the results at our Scottsdale auction. We believe that the best examples will continue to bring strong prices and should continue to hold their value in the years to come. One example of a strong result is the 1967 427/435 coupe that was sold at our Scottsdale auction. This was an exceptional car that was completely verified by the NCRS, accompanied by thorough documentation and featured all the options that make a big-block Corvette sought after. I would have no difficulty believing that, in due time, this car will achieve the values that were attained during the peak of the muscle car market. On the other hand, we see more mun- dane cars bringing commensurate prices. Corvettes that lack exciting options and NCRS verification, or are more commonplace, currently do not fair as well in today's market, as people are inclined to wait for the best examples. Craig Jackson Chairman and CEO, Barrett-Jackson, Scottsdale, AZ I was surprised and very pleased at the response we got for special-edition C4 models, especially the 1989 ZR-1 “Snake Skinner” that sold for $176,000 and the 1990 ZR-1 Active Suspension prototype that went for $150,700, both from the GM Heritage Fleet. Both were experimental cars that pioneered performance aspects of the Corvette that we enjoy today. There was speculation as to whether or not these C4 Corvettes had collectability in today's market.We had examples scattered throughout our auction lineup and buyers showed up ready to spend serious money on them, even on the early days of the auction when these two cars were sold. Looking back on Scottsdale, I believe these special edition C4s, especially the ZR-1s, have been established as bona fide collector cars that should increase in value and popularity. 8 Corvette Market WINTER 2009 www.vettemarket.com


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Dean Kruse President, Kruse International, Auburn, IN With 28 Corvettes crossing the auction block at our Scottsdale sale this year, we saw a price range from $85,000 for a red 1957 to a low of $3,000 for a 1984 that was not in running condition. From a collector's perspective, I would recommend purchasing a Corvette from 1953 to 1972 in model year. They are holding their value well at this point in time. Although I must say the high-dollar, big-block, numbersmatching cars may have leveled off at this time in the market place. But there is still a moment of silence and a sense of admiration when a beautiful, shiny Corvette roadster pulls up to the auction block, and with the results of our 2008 auctions and thus far this year, Corvettes are still one of the most sought-after vehicles in the collector car industry. Rob Myers President and CEO, RM Auctions, Blenheim, Ontario, CAN The Chevrolet Corvette has enjoyed a unique, singular market in the collector car hobby, as the marque has never had direct competition like the Big 3's pony cars. Now into its sixth generation, the Corvette's longevity can be attributed to its eye appeal, performance, and reliability as America's most iconic personal sports car. 1963 was a significant milestone for the Corvette, as it introduced the aggressive new Sting Ray body and chassis design based on the Mako Shark concept. The most important and rarest Corvette to come to market in many years was the 1963 Corvette Grand Sport roadster (002) recently offered at RM Auctions's “Automobiles of Arizona” sale in Phoenix. This particular roadster version was one of five factory-built race cars designed for international competition by Zora ArkusDuntov before GM management cancelled the project. The final $4.9 million bid that was offered on the Grand Sport was an exciting highlight of the Arizona sale. However, it was not within range of the owner's reserve. The bidding does indicate that the market continues to be strong for “holy grail” cars with documented provenance and originality. The first three generations of Corvette will continue to capture the majority of interest in the Corvette collector market, as this era exemplified its legendary status in popular culture. At this year's Arizona event, RM offered two other important Corvettes—an early 1954 model with 38,000 original miles that fetched $91,000, and a race-prepped 1957 model that brought $75,000, both expected market price. www.vettemarket.com WINTER 2009 Corvette Market 9 Mitch Silver Owner and President, Silver Auctions, Spokane, WA Honestly, this may sound strange, but I was both surprised and pleased that Arizona showed a very consistent and stable market value for Corvettes. For example, a 1964 coupe described as a “survivor driver,” with non-matching numbers in #3 condition changed hands at $31,860. A 1978 Anniversary Edition L82 showing 50,338 miles but sold as exempt in condition #3 brought $11,340. A highly modified 1965 coupe with a 502-ci engine and a custom leather interior was our top-price Corvette at $53,000. These prices all reflect almost exactly what these same cars have been fetching in the auction market over the past two years. Overall, I'm seeing less money being spent at the sales but individual car values holding steady. One car that felt to me like a good buy was a 1998 Pace Car in purple with only 17,900 miles from new. In #1.5 condition, it changed hands at $23,000. A significant factor is that my sellers throughout the country are not contacting me with panic or selling concerns. In 1990, this was not the case. What manifested at our Arizona auction was a scenario where the high bidder on a vehicle with a reserve was in a good position to let the auction company closer negotiate a sale, at a price the bidder had set. It's a good time to be the high bidder, at your price. The reduced competition will mean your fair market offer has a better chance of being accepted.


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Questions &Answers by Colin Comer Are 'Vettes immune? After watching much of the Arizona auction action, it seems like Corvettes are holding their values better than average muscle cars. Do you agree, and what would you consider to be the best year or years to appreciate in the future?—B.T., Akron, OH Corvette values, just like every collector car (or tangible asset, for that matter), are certainly not immune to this unprecedented financial crisis. However, as you witnessed live and on Speed, indeed prices on certain Corvettes are doing quite well, to the surprise of many. What it all boils down to is that there are some forced sales right now of cars that have not been available for a long time. Quality and provenance sell, especially with Corvettes, since so few really good examples of rare models exist. Obviously, models that have always been popular will hold their values the best and appreciate ahead of the fringe cars in the future. Stick to thoroughly documented, legitimate highhorsepower C1, C2, and C3 cars. Buy the best examples you can find, and in good colors. Pay particular attention to Bloomington Gold Survivor and Benchmark Certified cars; that is one segment that is just waking up and represents the future of the hobby. Regardless of the price range, buy the best quality and history you can afford. There are lots of opportunities out there right now for getting the Corvette of your dreams—and on sale! They painted my bottom I have a '69 L71 coupe that has all its original drivetrain and body. It has very nice paint and a very nice original interior. moderate “super tune” session. Plenty of specialists can properly rebuild and calibrate your stock Quadrajet carburetor for better performance, all while being emissions compliant. Also, the factory distributor Corvettes held their own in Arizona The previous owner wanted to “clean up” the bottom, so he had it treated to a classic “black out,” which included spraying over all the natural areas and the brake and fuel lines. Is it worth having the bottom stripped and redone to be more correct?—J.M., Austin, TX Yes. As daunting as it may look at first, chassis restora- tion is more elbow grease than anything else, and a properly detailed chassis makes an otherwise “good” car into a “great” car. Your saving grace may be that most graffiti artists, er, “black out” guys, rarely properly prepare the chassis, so sometimes even a careful high-pressure steam cleaning removes 80% of the vandalism. Lacquer thinner, aircraft paint stripper, and other tools will take care of the rest. It also means this is a great time to drop the suspension and rebuild/detail each component and replace all of the brake and fuel lines with new ones, install proper shocks, correct exhaust components, and the like. If you don't want to try it yourself, find a competent 10 Corvette Market WINTER 2009 www.vettemarket.com Corvette restoration shop that is familiar with the proper finishes and techniques for the various surfaces and components. Then, break out the under-car mirrors at the next Dog 'n Suds cruise night. More power, please I have a 1975 Corvette convertible. It has 19,000 miles on it and I've owned it since 1978. I bought it because I didn't think they'd make any more open Corvettes, but GM doublecrossed me in 1986. It's steel blue, which is the rarest color, but its performance is pitiful, with just 165 horsepower, even though I have a 4-speed. How much can I modify this before it hurts the value? I know it's not worth much, but I'd like to have a bit more fun with it before my kids take my keys away.—L.R., Phoenix, AZ I feel your pain. The 1970s were dark years for performance, to be sure. All is not lost, however, as you have many options to wake up your C3. The cheapest upgrade would be a advance curve is lethargic. Either a performance replacement or a recurving of your original unit, along with a high-output coil and good wires and plugs, will work wonders in combination with the carb upgrade. Once it is all together, a proper tune on a chassis dyno will confirm everything is working properly. We usually see gains of 30 hp or so just tweaking the factory setup. After that, a high-flow catalytic converter and decent exhaust do lots for performance, and a good aftermarket aluminum intake manifold can be disguised to look almost stock—and it will be hidden under all that emissions spaghetti anyway. The next level would be a performance camshaft and lifters. Again, keep in mind emissions requirements in your area and consult a knowledgeable shop. If you still hunger for more, yank the motor and have it rebuilt to performance specs with more compression, ported or aftermarket heads, and proper matching of components, which should net a good, solid 300–350 hp and be reliable as the day is long, while still looking bone stock externally. Or, if you want to leave your 19k mile engine sealed up just as it left the General, investigate any number of the crate engines available. All should plug right in with your original components bolted to them. And your original motor will make a great coffee table until the next owner is ready to reinstall it when he puts the car in a bubble. ■ Please send your questions to questions@vettemarket.com. All submissions subject to editing. Playing the Horsepower Game Your saving grace may be that most graffiti artists, er, “black out” guys, rarely properly prepare the chassis


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Insider's View Event Guide Alabama 05.14.09–05.16.09 Corvette Beach Caravan, Dothan Hosted by Circle City Corvettes, this great event is a leisurely drive from Dothan, Alabama to Panama City Beach, Florida, with plenty of party time in between. The weekend includes special guests, seminars, door prizes, and a Corvette memorabilia auction to benefit the National Corvette Museum. www.circlecitycorvettes.com. California 03.27.09–03.29.09 Legends of Riverside Racing Film Festival and Gala, Riverside This unique film festival will screen notable gearhead flicks such as “Death Race 2000,” “Thunder Road,” and “The Big Wheel,” as well as automotive and motorsport documentaries. Special luncheons and dinners, a Cannonball Run Roundtable, a CanAm and F5000 display, a tribute to Paul Newman, and many other events round out the weekend. Tickets are limited and start at $199, all-inclusive. www.legendsofriverside.com. 04.18.09 Long Beach Grand Prix, Long Beach The third annual American Le Mans Series race on the famous street circuit will be bittersweet for Corvette fans, as Corvette Racing will shut down its GT1 program The current state of the Corvette market Send your Corvette event listing to cmcalendar@vettemarket.com. following the event. This is your last chance to watch factory Corvettes duke it out for victory. Tickets start at $57. www.americanlemans.com. 05.03.09 A Legend on Display 29, San Leandro All entries will receive an award at this Corvette show, which will feature classes for Stock, Modified, and Custom, as well as divisions for all Corvette generations. Sponsored by the Northern California Corvette Association. www.nccacorvettes.com. 05.16.09 Corvette Dreamin' Car Show, San Diego This fifth annual event is hosted by Corvettes of San Diego and includes an NCCC-sanc- Corvette factory team will bow out after Long Beach Grand Prix 12 Corvette Market WINTER 2009 www.vettemarket.com


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tioned Peoples' Choice Car show, as well as a non-sanctioned judged show. www .corvettesofsandiego.com Connecticut 03.21.09 NCRS Northeast Chapter Judging School, Wallingford www.ncrs.org Florida 03.13.09–03.15.09 Amelia Island Concours, Amelia Island Nothing kicks off the concours season like Amelia, one of America's premier automobile events. CM Publisher Keith Martin will be there as a judge, and CM will have a booth. Stop by and seay hello. The weekend will feature plenty of special programs and guests. Racing greats from the era of front-engine open-wheel racing in America will gather for a seminar entitled “The Great Roadster Drivers,” while noted automobile historian and author Ken Gross will moderate a panel called “The Great Customizers,” which will include Chip Foose, George Barris, and others. Veteran racer and current Speed Channel commentator David Hobbs will serve as concours honoree. Tickets for the seminars start at $20, while concours tickets are $45 for adults, $20 for students. www.ameliaconcours.org. 03.21.09 57th Mobil 1 Twelve Hours of Sebring, Sebring The American Le Mans Series will kick off its 100th race at America's most storied endurance event. Watch as the mighty Corvette C6.Rs race into the darkness and do battle against a diverse field of sports cars and prototypes from Porsche, Ferrari, Aston Martin, Ford, Acura, and more. Tickets start at $80. www.americanlemans.com. Iowa 06.06.09 11th Annual Spring Fling All-Corvette Show, Indianola Don't miss the largest all-Corvette show in Warren County, put on by the Warren County Corvette Club. The event will include a 50/50 drawing, lots of great food and music, raffles, door prizes, and other awards. Prize categories encompass all Corvette generations, with special awards for Best of Show, Best Sounding Pipes, Mayor's Choice, and a cash award for the largest club participation. http://clubs.hemmings.com/wccorvette. MARCH 7—KRUSE San Diego, CA 8—BONHAMS Oxford, UK 9—SHANNONS Melbourne, AUS 14-15—ICA Gilbert, AZ 14—H&H Coventry, UK 14—RM Amelia Island, FL 20-21—KRUSE Las Vegas, NV 20-21—MECUM Kansas City, MO 21—LEAKE San Antonio, TX 21—SILVER Seattle, WA 27-28—VICARI Daytona Beach, FL APRIL 3-4—KRUSE Schaumburg, IL 3-4—WORLDWIDE Escondido, CA 3-5—RM Toronto, CAN 5—BONHAMS & GOODMAN Sydney, AUS 9-11—BARRETT-JACKSON West Palm Beach, FL 16—H&H Buxton, UK 17-18—COX Branson, MO 1954 Corvette offered at RM Amelia Island 17-19—KRUSE Palm Beach, FL 20—BONHAMS Hendon, UK 23-24—CARLISLE Carlisle, PA 25—KRUSE Amarillo, TX 25-26—RM Novi, MI MAY 2—KRUSE Huntsville, AL 2—WORLDWIDE Houston, TX 4—SHANNONS Sydney, AUS 9—BONHAMS Newport Pagnell, UK 9—SILVER Salt Lake City, UT 13—SILVER Spokane, WA 13-17—MECUM Indianapolis, IN 15-16—KRUSE Charleston, SC 17—RM Maranello, ITA 18—BONHAMS Monte Carlo, MCO 22-23—KRUSE Paso Robles, CA 28-31—KRUSE Auburn, IN 30—MIDAMERICA St. Paul, MN JUNE 1—SHANNONS Melbourne, AUS 7—BONHAMS & BUTTERFIELDS Greenwich, CT 12-14—LEAKE Tulsa, OK 13—SILVER Coeur d'Alene, ID 20—KRUSE Topsfield, MA 20—KRUSE Sevierville, TN 20—MECUM St. Paul, MN 26-27—AUCTIONS AMERICA Raleigh, NC 26-27—MECUM St. Charles, IL Auction Calendar www.vettemarket.com WINTER 2009 Corvette Market 13


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Insider's View Event Guide The current state of the Corvette market Send your Corvette event listing to cmcalendar@vettemarket.com. New Jersey 04.18.09–04.19.09 Strictly Corvette Show, Atlantic City Held at the new Atlantic City Convention Center, this show will showcase hundreds of Corvettes, from classics to customs and everything in between. Don't miss the special display, “Walk in History,” which features 56 years of Corvettes, from the 150-hp 1953 Roadster to the 620-hp 2009 ZR1. With more than 250 vendors on hand, there's something for everyone. www.strictlycorvette.com New York 06.05.09–06.07.09 Cruisin' Around the Mountains, Saranac Lake The Found Caravan Corvette Club will host this popular event, which includes a welcome party, a catered lunch and show at Ellis Chevrolet, a ride on the Adirondack Scenic Railroad, and a judged show. www .vettes1.com. North Carolina Kentucky 04.13.09 10/10ths Motorsports HPDE, Sparta Bring your Corvette out to the new BlueGrass Motorsports Park for a high-performance driving event, put on by 10/10ths Motorpsorts. The track time will include three group events with instructors available for novice drivers, and expert coaching will be available to the intermediate and advanced groups. Up to three hours of track time is offered. www.1010thsmotorsports .com. 04.23.09–04.25.09 C5/C6 Bash, Bowling Green This twelfth annual event includes a scenic tour to the heart of bluegrass country and the International Bluegrass Museum, as well as a tour to browse antiques and local crafts. The Corvette Customer Assistance team will be on hand to discuss factory warranty and other customer-related issues, and there will be several informative seminars covering the 2010 Corvette and more. www.corvettemuseum.com. Minnesota 06.05.09–06.07.09 Corvettes for a Cause, Hutchinson Crow River Corvettes will host this second annual Corvette fundraiser for the National Breast Cancer Foundation and the American Cancer Society. Events include a meet & greet, a welcome party with food, drinks and prizes, a car show, Fun-Kana, Blind Faith Autocross, Hidden Time Rally, Dart Run, awards banquet, a golf tournament, and plenty more. The first 100 cars registered get free visors, dash plaques, and goodie bags. This event is rain or shine. www.crowrivercorvettes.com. Nevada 05.07.09–05.11.09 2009 WSCC Viva Las Vegas Corvette Convention, Las Vegas The Western States Corvette Council welcomes all Corvette owners to its annual convention. Activities over the four days include poker rallies, a judged car show under the Fremont Street canopy, and an all-Corvette day at the Las Vegas Motor Speedway, with bracket drag racing and autocross. There is also go-kart racing, lots of parties, a fun hospitality suite competition for Corvette clubs, and more. www.corvetteconvention.com. 05.14.09–05.16.09 NCRS Nevada Regional Meet, Lake Tahoe www.ncrs.org 04.23.09–4.26.09 NCRS Carolinas Chapter Regional, Matthews www.ncrs.org 05.23.09–05.24.09 Vettes in the Valley Corvette Show, Maggie Valley Set against the backdrop of the beautiful Smoky Mountains, this annual event includes Judged, Peoples' Choice, and Participants' Choice trophies and awards, plus specialty trophies for unique Corvettes. With plenty of vendors and entertainment, as well as a road rally, loud exhaust contest, door prizes, goodie bags, and raffles, no one will go home bored. www.smokyevents.com. South Carolina 04.18.09 'Vettes Doin the Charleston, North Charleston Join the Coastal Carolina Corvette Club for this show to benefit the National Corvette Museum. Arrive early to get in on the Friday reception. Participants can take part in two different judged events—Participants Choice awards, which includes all attendees, and an optional judged award class. www.4cccc.org. 14 Corvette Market WINTER 2009 www.vettemarket.com


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Tennessee 03.27.09–03.28.09 Corvette Expo, Sevierville This event, held at the Sevierville Events Center, is now in its 32nd year. Expect to see a swap meet and judged competition featuring the special category Horsepower and Hot Rods, as well as this year's featured car—the Corvette Custom—which will include any modified Corvette from any year. The event “Corvettes Cruise the Smokies” will take place Friday evening, and a Thompson-Carr Collector Car Auction will take place on Saturday. www.corvetteexpo.com. Texas 05.15.09–05.17.09 Lone Star Corvette Classic XX, Fort Worth This 20th annual event will be held at Texas Motor Speedway, and more than 600 Corvettes of all stripes are expected. During the three days, take part in Casino Night, a silent auction, car corrals, a Saturday car show, gymkhana, and Sunday track events. Proceeds from the weekend benefit the National Corvette Museum and Speedway Children's Charities. www.lonestarcorvette .com. ■ Bloomington Gold's a Must Go Great cars, a great setting, and lots to do—what more do you need? A s a Corvette owner, you owe it to yourself to be a part of this year's Bloomington Gold's 37th Corvette Car Show. Mark your calendars for June 25–28, 2009, at Pheasant Run Resort in St. Charles, Illinois. If you have to pitch it to your significant other, here are the first five reasons we suggest: 1. America's Largest Corvette-Only Auction With approximately 400 Corvettes up for sale at Dana Mecum's Bloomington Gold Corvette Auction, there's bound to be something you can't resist. (Hmmm—maybe you should tell her this reason last. After all, it suggests you'll come home with another Corvette.) 2. Special Collection XXV Last year's Special Collection featured the 32,000-horsepower L88 group, with 58 L88s on display. This year, Bloomington Gold promises to top that, with the 2009 Special Collection. For 25 years, Bloomington Gold has assembled the rarest and fastest Corvettes, and this year's collection won't let you down. 3. Corvette Road Tour This year marks the 25th anniversary of the B-G Tour—a 35-mile road trip through rural Kane County, Illinois, on Saturday, June 27, 2009. More than 600 Corvettes ranging from first-generation 1953s to the latest C6 masterpieces will take to the road for a camaraderiefilled drive through the countryside. The driving event is free to any Corvette owner who attends Bloomington Gold. 4. Expanded Survivor Collector Car Show As America's only show dedicated to unrestored original auto- mobiles of all makes and models, the expanded Survivor Collector Car Show will offer three registration options for car owners: The first is a new area that provides on-the-spot credit for outstanding preservation; the second is an extended display area for owners to showcase their unrestored cars and share memories; and a buy/sell area will give enthusiasts the opportunity to buy and sell unrestored cars. In addition to other special interest awards, one lucky owner will win what may become the most prestigious preservation award in history: The ZZenith. Read more in the next issue of Corvette Market. 5. Industry Trendsetting Bloomington Gold's revolutionary judging systems—Gold Certification, Survivor, and Benchmark ratings—have set the standard by which collectors, auctions, magazines, and parts manufacturers compare Corvettes. These amazingly preserved, authentic cars accurately reflect Corvette history. Enter your car to be judged, or just watch the experts at work as they analyze the cars and give them their ratings. 6. Bonus There are dozens and dozens of vendor booths at Bloomington Gold, offering everything from trash and trinkets to high-end clothing. Turn your partner loose on the vendor midway while you cruise over and look at the cars for sale. In a perfect world, you'll both come back with something. Find more at www.bloomingtongold.com. ■ www.vettemarket.com WINTER 2009 Corvette Market 15


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Corvette Market Insider's Seminar Audience Picks $1m Corvette Collection Corvette experts chose investment, driver, rally, drag racing, and unrestored Corvettes—plus ones for their wives and teenagers as well by Paul Duchene O n the heels of last year's successful Corvette seminar at Russo and Steele's auction in Scottsdale, CM Publisher Keith Martin returned to the desert in 2009 with a new program, a contest, a new judge, and a definitive movie about the L88. This year, the panel of experts each had $1m CM dollars to spend on their dream Corvette collection. The 200 CMers and friends in the audience were able to vote on whose collection they'd choose, and if you make it to Bloomington Gold in St. Charles, Illinois, in June, you'll be able to see examples of the winning cars. Returning experts included David Burroughs, CEO of Bloomington Gold, NCRS Judge Michael Pierce, Jim Jordan of County Corvettes, and Kevin Mackay of Corvette Repair. They were joined by Roy Sinor, NCRS Senior Judging Chairman from 1996 to the present. Once again, the discussions and Powerpoint show covered Corvettes from 1953 to 2008, with emcee Martin asking questions of the panelists and the audience. The first session concerned the current market. KM: Where do you see the market headed today? Jordan: This is about the tenth recession since 1954, Martin (standing) and the Corvette Gurus: Pierce, Mackay, Burroughs, Sinor, and Jordan but good cars are still in demand and there's no shortage of buyers. There aren't a lot of buyers of mid-range cars, and volume is down in everything. It could mean guys are putting money in a safer place than the stock market and some people just need cash. Mackay: I wonder what kind of people are buying now? There was a '74 Corvette at Barrett-Jackson for $34k, which was a shocking high price; then again I saw a '69 390-hp car go for $40k. People are paying for good quality cars. Pierce: There seems to be no sweet spot. Is it a '57 FI 283? A '62 FI 283? Drivability seems to be a factor, as people just want to be more comfortable. Burroughs: '53s–55s have been flat the past two years but '58s–60s seem to be very strong. Sinor: I think the '55 Six is a sleeper C1. There were only seven of them; nobody follows them and you can pay $150,000 for a good car. KM: But '53–55 cars aren't good touring cars, they often just get restored and not used. What do you think about C2s? The Split-Window is a flamboyant icon, always a high-water mark. Jordan: Mid-years still have a strong following. There's a lot of demand for 350-hp cars. Big-block, high-end cars have tapered off a bit. KM: What's a '67 350-hp with a/c worth? Jordan: A solid #2 is about $75k–$80k, up from $60k–$65k four years ago. KM: If I buy a worn-out car like that, how much to restore it? Mackay: 1,300–2,000 man hours. Cars with no documents aren't worth restoring. You need the original owner's documents and a good color. Sinor: The last year is the best year. I only handle cars with documents. If they're not that way, you end up sitting on them for a long time. I like a '67 350-hp with a/c. The coupes are better driving than the $75k convertibles. KM: When do you decide to restore or preserve? Burroughs: A simple question with a complicated answer. If it's a reasonable car with some value and 50% original, I'd do nothing but make it safe. If it's 30% unrestored it might have value in restoration. KM: In 15 or 20 years a car develops a patina, which tells the story of its life. If you restore it you destroy its history. 16 Corvette Market WINTER 2009 www.vettemarket.com Audience question: I have a '61 270-hp car with an engine and transmission upgrade. If I put it back right can it be a Survivor? Burroughs: Just because you have the original com- ponents doesn't make it a Survivor. There are original finishes that would have to be correct—not repainted or replated. KM: What's the situation with fake paperwork? Mackay: It's all over eBay. Corvettes are like women; there are good reputations and bad. If you find a car nobody knows, do your homework. There are a lot of cars being misrepresented and a lot of people faking documentation. Burroughs: In coming years people will appreciate cars left unrestored. Paperwork isn't the end-all, it can be so misleading. Each unrestored car tells its own story and in good condition it's a better story than a restored car with no papers. Pierce: NCRS has 16,000 people and archives to help do this. Counterfeit paperwork is available and people can make a lot of money, but we have the experts to examine it. KM: Nobody complains they paid too much for a good car. Do your homework before you buy. Let's look at C3s now. They're still mystery cars; some think they're ugly and they fall apart. What are prices doing? Jordan: People traded in their '67s for '68s. There was a lot of anticipation. A lot of rare '68–72 C3s are breaking $100k now. KM: Aren't they hard to restore? Jordan: They have intricate mechanisms—there are


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seven systems to turn the wipers on. The interiors are hard to work on and it's hard to fit parts. But the chassis and driveline are the same as C2s. Pierce: '68–70 cars are the beginning of the end of performance. By the time C3s were finished they barely made 200 hp. L88s, L89s, and LS6s were cutting edge, but the last 454s were still only 270 hp. KM: C4s got better and better. Just used cars now, when will they be collectible? Jordan: I remember when the '84 could pull 1g on the skid pad. It's just a car now, but every collection should have a C4. They're tremendous value at under $10k but very difficult to work on. The fuel system was non-ethanol, as ethanol decimates seals and injectors. ZR-1s are great value, but I doubt you'll make money on them in the near future. '93 and '95 Challenge cars have a place in a collection and Callaway cars are top tier. Burroughs: A lot of collector cars are driven by supply and demand. Right now there's lots of supply and a minimal demand. C5s are just used cars. Mackay: The C5 and C6 are great cars to begin with. You can buy them in the low to mid-twenties all day long. Sinor: The C5 and C6 are superb drivers. An '01 Z06 is a rocket of a daily driver. You can run any speed you like. Today's children will look at these the way we do at mid-years. Buy one because you like it and plan on keeping it. Spend Your $1m Here The second half of the seminar revolved around each panelist describing the cars that would make up his $1m collection. Ballots were distributed to the audience, who voted on the collections, while David Burroughs showed his 18-minute film on the history and significance of the L88, “Roar and Peace.” When the votes were tallied, the collection of new panelist Roy Sinor edged out that of David Burroughs by a single vote. ■ CM's 2009 Ultimate $1m Corvette Collection We asked our five Expert Panelists at the seminar to pick $1m worth of Corvettes—then the 200 members of the audience voted on them… Best Corvette for: Investment Roy Signor (1st) 1957 w/ HD Brake & Suspension, ex-race car with full 99-point restoration.—$325k Daily Driver 2008–09 Z06. There are 2,335 unsold on dealer lots; got to be the best buy there is for an everyday Corvette—$65k Vintage Rallies 1965 fuelie convertible; a documented older-restoration NCRS Duntov/Bloomington Gold—$85k Drag Racing Documented 1957 Fuelie with a nonoriginal drivetrain but a great body, so no matter how badly I tear up the engine, the intrinsic value of the car won't be affected.—$85k Original, Unrestored The best-documented 1967 427/435 convertible I can buy, preferably black.—$390k Your Significant Other 2004 6-speed Le Mans Blue Commemorative Edition convertible. Limited-edition factory cars have always held value better than all others in the same year.—$32k Your Teenager Total 2000 fixed-roof.—$18k $1,000,000 David Burroughs* (2nd) Michael Pierce (3rd tie) Kevin MacKay (3rd tie) Jim Jordan (3rd tie) 1969 L88 convertible (color dependant on trade-off positives).—$400k 2009 ZR1 (blue).— $125k 1967 427/435, RPO L-89 (aluminum head) roadster.—$400k 1969 L88 hardtop convertible.—$425k 1969 L88 convertible, restored, good colors, authentic, original driveline, proven provenance, with unhit original body.—$450k 2009 427/505, RPO Z-06 coupe.—$65k 1954 Advanced Automotive Technologies C5 Restomod Nomad.— $125k 1967 350-hp coupe with side exhaust (silver, black, blue, or red).—$90k For Drag Racing: 1966 427/425 convertible (Laguna Blue).—$125k 1965 327/365, RPO L-76, a/c roadster.—$85k 1967 327/350 a/c coupe.—$80k 2007 6-speed convertible with all options.—$40k 1962 Fuelie, older restored Duntov, PV authentic, original driveline, with unhit body.—$125k 1965 396/425, RPO L-78, coupe.—$70k 1958 Gasser.—$70k 2009 ZR1.—$135k 1967 427/435 coupe with side exhaust (blue).—$160k C5 Z06 Bondurant School track car (yellow).—$75k 1967 427/400, RPO L-68, a/c roadster (loaded).—$300k 1991 350/403, RPO B2K, twin turbo/intercooled roadster.—$50k 1967 427/435 hardtop convertible.—$225k 1967 427/435 coupe or convertible, true Bloomington Gold Survivor / Benchmark.—$225k 2009 convertible.—$65k 1982 low-mile driver.—$15k 1975 4-speed convertible (blue or silver).—$25k $1,000,000 1996 350/330, RPO Z-16, Grand Sport roadster.—$30k $1,000,000 1990 coupe.—$10k $1,000,000 1969–72 non-running coupe project.—$10k $1,000,000 *All cars must be certified Bloomington Gold Survivor or better; no restored cars will be considered. www.vettemarket.com WINTER 2009 Corvette Market 17


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Callaway FIA Championship Elite Three-Peat? These are not thinly disguised tube-frame cars. These are production cars. This speaks well for the car, and that's all I care about by Thomas Glatch; photo by Walt Thurn Callaway Competition will gun for its third GT3 title in 2009 R eeves Callaway is a man in a hurry. He probably always has been. Scion of the notable golf equipment company that bears his family name, the expert engineer is a driving force in another field. His Callaway cars are beloved of Corvette owners who really want to go fast, and his 1988 street legal twin-turbo “Sledgehammer” was driven to and from an Ohio track where it ran 254.76 mph in 1989. That's still faster than the $1.6m Bugatti Veyron, 20 years later. In all, he has built nearly 600 Corvette-based supercars since 1987, prized by aficionados who enjoy their sophisticated civility as well as their speed and handling. Now Callaway has gone racing—in Europe—and taking on the Europeans on their home ground, he has achieved notable success. Callaway cars have won the FIA 18 Corvette Market WINTER 2009 www.vettemarket.com GT3 championship for the past two years on European tracks like Silverstone in England, Monza in Italy, Brno in Czechoslovakia, and Dubai in the United Arab Emirates. In doing so, he has beaten teams from Ferrari, Lamborghini, Porsche, Aston Martin, Ford, and Jaguar. The FIA series was started in 2006 by the Federation Internationale de l'Automobile (FIA) and promoter Stéphane Ratel Organisation (SRO), and runs six races each year. Callaway won the Team Championship by one point from Ferrari in the last corner of the last race in 2007. Arnaud Peyroles and James Ruffier of Martini


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2009 FIA GT3 Calendar Sunday, May 3, 2009 Sunday, May 17, 2009 Sunday, June 21, 2009 Sunday, September 13, 2009 Sunday, October 4, 2009 Saturday, November 14, 2009 Silverstone, England Adria, Italy Oschersleben, Germany Algarve, Portugal Paul Ricard HTTT, France Dubai, United Arab Emirates Callaway Racing took the Driver's Championship in 2008. Callaway says he went racing in Europe because he was looking for a level playing field among different manufacturers, so that one company with a bottomless bank account couldn't own it. “I had always looked for the day when someone very smart would come up with a way to create parity between disparate automobiles,” he said. “And that is what the FIA did. So we, in partnership with the European importing organization for Corvette and Cadillac, Kroymans, entered the series.” GT3 racing is extremely competitive. At the start of the season, approved produc- tion cars are tested at the FIA's own facility, the Paul Ricard High Tech Test Track, with the FIA's official GT3 test driver, Christophe Bouchut, at the wheel. The data is analyzed and the cars are equalized through a combination of weight addition or subtraction, intake restrictor plates, tire compounds, and ride height. Z06.R Corvettes were given an additional 176 pounds in weight and a 75-mm intake restrictor, but some cars, like the AWD Lamborghini Gallardo or Ford GT40, were more heavily penalized, while others, like the Mustang FR500 and Morgan Aero 8, were given a weight reduction and are allowed more modifications. “The problem is to keep people from cheating,” says Callaway. “And the FIA does that by monitoring. During qualifying, Bouchut can request to drive any car. The FIA has also found a way to balance the drivers. The guy who owns the car is generally a gentleman driver who isn't the quickest, but he's paying for the whole thing. He wants to win, so he gets a Class A driver to co-drive. The FIA says you can have one Class A driver, but you can't have two.” Such Class A drivers have included 2005 British GT3 Champion Dimitris Deverikos and American Robert Hissom, a former Playboy Endurance Championship competitor. So far, it hasn't been a playground for ex-Formula One champions. Callaway Competition sells the Z06.R to race teams, and there are four Corvette teams in the GT3 series, the maximum allowed by the FIA. At each of the six stops on the calendar, there are two races each weekend, a minimum of one hour long, and both drivers must drive in each race. Callaway has built a total of ten Z06.R racers for the series and says lessons learned are applied to the street Corvettes, such as the supercharged Callaway Corvette and the C16 supercar. The Martini Callaway team and the Z06.R Corvettes will defend their championship the weekend of May 3, 2009, at Silverstone. The competition this year will be even tougher, with the formidable Audi R8 joining the fray. “We did all this without any help from GM,” said Callaway. “We raised the money, bought the cars from GM Europe, designed, prepared, and built four race teams (the French Riverside team ran in 2006 and 2007). These car are not thinly disguised tubeframe cars. These are actual production cars. This speaks very well for the car, and that's all I care about.” Given current economic conditions, including the downturn in the car market in general and GM shutting its high-performance operations in particular, Callaway will really have to go it alone this year. But Reeves Callaway has a history of accomplishing a lot with limited resources, and he's looking forward to, once again, taking on the Europeans on their turf, and watching his American V8s walk away with the trophies. To watch the series, go to www.gt1live.tv. Windows Media Player 11 is required. ■ Corvette Z06.R GT3 Specifications Engine LS7 GT3 Front-mounted V8 Engine Race power: approx. 510 hp at 6,000 rpm (75-mm FIA restrictor) Max torque: approx. 480 ft-lb at 4,900 rpm (75-mm FIA restrictor) Power/Weight ratio: 1.25 lb/hp Fuel tank capacity: 26.4 gal Transmission Rear wheel drive Manual 6-speed gearbox (Tremec) Suspension Front: Independent with double wishbone, dampers with bump and rebound adjustment (Moton), adjustable anti-roll bar Rear: Independent with double wishbone, dampers with bump and rebound adjustment (Moton), adjustable anti-roll bar Braking System Front: six cylinders per caliper (AP Racing) Back: four cylinders per caliper (AP Racing) Tires Front: 325/650 18” Michelin race tires Back: 325/705 18” Michelin race tires Bodywork Length: 179.9 in Width: 78.6 in Wheelbase: 104.2 in Weight: 2,804 lb More www.callawaycars.de www.fiagt3.com Automobiles approved for FIA GT3 Ascari KZ1-R Aston Martin DBRS9 Chevrolet Corvette Z06.R Dodge Viper Competition Coupe Ferrari F430 GT3 Ford GT GT3 Ford Mustang FR500 GT3 Jaguar XKR GT3 Lamborghini Gallardo GT3 Morgan Aero 8 GT3 Porsche 997 GT3 Cup S and coming in 2009, Audi R8 www.vettemarket.com WINTER 2009 Corvette Market 19


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Callaway Buyers Guide The Essential Callaway Buyer's Guide Callaway has a history of uncompromising performance, and the FIA GT3 achievements prove they walk the walk by Thomas Glatch RPO B2K means business A s fourth- and fifth-generation Corvettes continue to slide in value, the cars of Reeves Callaway just look better and better. Callaway Cars has worked with clients from Aston Martin to Range Rover, but the company is best known for its exotic Corvettes. Callaway's major projects are given a sequential “C” number, and their Corvette-based products include the following cars. C4—Callaway Twin Turbo Corvette (1987–91) In 1987, the Corvette option RPO B2K added the Callaway Twin Turbo upgrade to the standard Corvette, boosting it from 250 hp to 382 hp. Later cars had 405 hp and the option of the Aerobody package. There are over 1,000 pieces to the Twin Turbo option, but the there's a 50-page addendum to the owner's manual, web site links, and Callaway can recommend dealers and mechanics with Twin Turbo expertise. 482 Twin Turbos were ordered through Chevrolet, and another 28 were upgrades to existing Corvettes. Most valuable are the ten Speedsters built at the end of the B2K program (one of which was a no-sale at $245,000 at Mecum St. Charles in 2004). Other Twin Turbos sell for $20k–60k. C6—Callaway SuperNatural Corvette (1992–96) When Chevrolet introduced the Corvette LT1 engine in 1992, the Twin Turbo program ended. Callaway introduced the SuperNatural package, employing tuned, unboosted, “natural” aspiration principles. There were 400-, 435-, 440-, and 450-hp versions for the LT1, and 475- and 490-hp upgrades for the LT5. No longer a factory option, cars could either be ordered and shipped directly to Callaway's facility in Connecticut, or to an authorized installer for installation. Existing Corvettes were also converted. Values are slightly less than those for Twin Turbos, in the $20k–40k range. 20 Corvette Market WINTER 2009 www.vettemarket.com C12—Callaway C12 (1997–2001) “GM builds the Corvette to cost, we built the C12 to a standard,” says Callaway. Based on the fifthgeneration Corvette platform, the C12 supercar was designed to compete at Le Mans in the GT2 class, yet still be tractable on the street. Just 18 C12 models were built for the likes of Dale Earnhardt Jr., along with two C12.R race cars. They rarely sell, but C12 #17, a Snow White Pearl coupe owned by Callaway himself, is for sale at $225,000. Our cover car just sold at Gooding's Scottsdale auction for $57k. C15—FIA GT3 Z06.R Corvette (2007–08) Callaway Competition built ten Z06.R racers for the European FIA GT3 series and has won the title in both years. None of the cars have changed hands to date, but Alois Meir, owner of the #2 Martini Callaway Z06.R, is selling his car, which ran both 2007 and 2008 seasons, and has all the updates. He's asking about $295,000, and it'll be interesting to see what competition success is worth. C16—Callaway C16 (2007–present) Like the C12, the current Callaway C16 is built to order, starting with a C6 Corvette coupe or convertible. Along


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The Callaway Chronology C1 Callaway Turbo Systems for BMW, VW, Porsche, Audi, and Mercedes-Benz vehicles (1977–84) C2 Callaway HH Indy Car V8 engine (1980–81) C3 Alfa Romeo Callaway Twin Turbo GTV-6 (1983–86) C4 Callaway Twin Turbo Corvette (1987–91) C5 Aston Martin Virage V8 & AMR1 Group C engine (1988–90) C6 Callaway SuperNatural Corvette (1992–96) C7 Callaway C7 (1993–96) Callaway C12 Speedster with a 650-hp supercharged engine (700-hp on the Speedster), the C16 features a body sculpted by Montréal-based designer Paul Deutschman, upgraded suspension and brakes, and German leather interior. The C16 costs $173,000 for the coupe, about $8,000 more for the convertible. The Speedster is just over $300k. There are no options. Callaway builds one C16 a month. Owner testament: C16 number 006, a pearl white coupe, was ordered by Sheikh Khalid of the United Arab Emirates. The first time he drove it, he called Reeves Callaway from inside the car. “He was crying,” says Callaway. “The man was in tears.” C17—Callaway Supercharged Corvette Series (2007–present) This is a 580-hp supercharged upgrade to any standard C6 and represents an $18,900 option through 25 dealers. It's available as an automatic, or as a convertible, though the Z06 version must be a fixed-roof, manual-gearbox coupe. Design cues are the supercharger hood and custom badging, but for virtually half the price of a ZR1, you get a hand-built sports car. The Callaway Corvette warranty parallels the factory 5-year/100,000 mile warranty, with an additional 3-year/36,000 mile for the Callaway components. The Callaway also gets 31 mpg at a steady-state 70 mph. ■ C8 Callaway SuperNatural Camaro (1993–2002) C9 Callaway Impala SS (1994–96) C10 Limited Edition Corvette Ski Boat (1996–97) C11 Limited Edition Range Rover 4.6 HSE (1998–99) C12 Callaway C12 (1997–2001) C13 Holden Special Vehicles (HSV) in Australia (1999–2004) C14 MAZDASPEED Protegé (1998–2003) C15 FIA GT3 Z06.R Corvette (Champions 2007 and 2008) C16 Callaway C16 (2007–present) C17 The Callaway Supercharged Corvette Series (2007–present) Callaway C16 Speedster www.vettemarket.com WINTER 2009 Corvette Market 21


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C1 profile 1962 Resto-Mod Original C1s understeer like an Iowa farm plow, before snapping into oversteer. This is coupled with loosey-goosey steering and grabby, ineffectual brakes by John L. Stein Chassis number: 20867S100572 T his 1962 Corvette resto-mod is powered by a 5.4-liter, 300-hp, chromed-out small-block crate engine with two four-barrel Edelbrock carbs mated to a standard four-speed transmission and nine-inch Ford differential, and is cooled by a Be Cool aluminum radiator and fans. The car features a modified Art Morrison chassis No. 2 with Corvette C4 front sus- pension, Air Ride Technologies triangulated four-bar rear suspension, Aldan adjustable coil-over shocks, rack-and-pinion steering, Baer four-wheel disc brakes, Foose Design wheels, and 235/45-17 front, 245/40-17 rear tires. Built by Custom Cars of Omaha, Nebraska, and owned by Steve and Nancy Bronner, this car is represented to have an original 1962 Corvette body, with an Al Knoch custom black convertible top. The Corvette has R-M Diamont black base coat/clear coat paint applied by Gary Parks, with a red interior featuring an Ididit steering column, Vintage Air air-conditioning and heating system, Dakota Digital instrumentation, and a custom audio system. CM Analysis This car sold for $104,500, including buyer's premium, at the BarrettOf all the world's resto-mods, first-generation Corvettes are among the most intrigu- Jackson auction in Scottsdale, Arizona, on January 17, 2009. ing—and arguably most justifiable. Because, while gorgeous, the C1 cars are also the most difficult Corvettes to drive well. Admittedly a blasphemous act to the NCRS crowd, radically altering them with a 22 Corvette Market WINTER 2009 www.vettemarket.com Details Years Produced 1962 Number Produced 14,531 Original List Price $4,038 CM Valuation $80,000–$100,000 Tune-up $500 Distributor Cap $19.95 Chassis # Front of driver's door opening Engine # Right-front cylinder-head deck Club www.corvettesnccc.org More www.artmorrison.com Alternatives 2001–08 Chevrolet Corvette CRC-62R 1957 Ferrari 250 TRC recreation 1996–2006 427 Shelby Cobra “Continuation” CM Investment Grade B Photos: Barrett-Jackson


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special chassis carrying C4 suspension, decent steering, brakes, and rubber at least makes first-generation Corvettes pleasant to drive. After all, the C1 generation was based on post-war Chevrolet passenger-car engineering, whose steering accuracy and suspension geometry were neither precise nor predictable. When cornering at high speeds, the cars would understeer like an Iowa farm plow before snapping into spurious oversteer. Couple this with loosey-goosey steering and grabby, ineffectual brakes, and you have a recipe for post-traumatic stress disorder after every zestful drive. Bare body is another good reason to mod So that's one reason to do a C1 resto-mod—to imbue a solid-axle Corvette with contemporary handling characteristics. But from an economic standpoint, there might be one other time when a Corvette resto-mod makes sense, compared with a traditional restoration. And that's when all you have to work with is a body and chassis long ago stripped of their powertrain and running gear. The cost of returning such a mechanical skeleton to completeness would be fabulously expensive if it were even possible in one man's lifetime. But herein lies the rub: While authentic restorations—however painful and expensive—are attractive to many prospective buyers, resto-mods are artistic expressions and there's no guarantee anyone else will share your vision, sculpted in 3D and paid for with real checks carrying plenty of digits. Fortunately, one interesting thing about the Corvette collector world is that people interface with it in so many different ways—the purist who wants only authentic Survivors, the nitpicky restorers who want nothing but from-the-factory, and the torch-wielding predators who see vulnerable old cars mainly as a foundation for creative license. This '62 likely falls into the latter camp, and while some may disagree with the notion of turning any real solid-axle Corvette into something it never was, others will embrace the concept of merging real-world drivability with the unique style of the first-generation Vettes. A 1962 is a logical donor for this project In Corvetteland, the 1962 model is actually a logical choice for this exercise, owing to its superior 327-ci engine, the roomier cockpit and better ergonomics enjoyed by the 1960–62 models, and because there were more '62s built (by a huge margin) than any other solid-axle year. While we don't know what state this particular Barrett-Jackson car was in prior to modification, we do know that it was a very nice example when it rolled across the auctioneer's stage. Intelligently equipped instead of overdone, and finished in a safe, classic Corvette combination of glossy black with red interior, the aggregate cocktail definitely got bidders excited. Equipped with two four-barrels (instead of a mod- ern EFI system) and a 4-speed transmission instead of a later 5- or 6-speed, this car retained a period flavor while benefiting from upgrades where they'll do the most good, to wit: its custom Art Morrison chassis, aluminum C4 front suspension, rack-and-pinion steering, upgraded brakes, modern wheels reminiscent of '60s Torq Thrusts, grippy 17-inch tires, and a high-efficiency radiator and air conditioning. The only step out of bounds was a digital instru- ment display that's totally uncharacteristic of solid-axle Corvettes. All told, it was just about as sensitively created as possible, and the new owners—if they so wish—should be able to drive it from Key West to the Al-Can Highway with a reasonable level of comfort and confidence. Best of all, this resto-mod was all finished, and given the high cost and long gestation period for projects of this sort, that alone was worth a fortune in time savings. Well crafted as resto-mods go—and fairly sold. ■ JOHN L. STEIN was the editor of Corvette Quarterly from 1998 to 2005. He has driven or raced every generation of Corvette. www.vettemarket.com WINTER 2009 Corvette Market 23


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C2 profile 1963 327/360 Z06 Yenko Coupe “Gulf One” Newly discovered documents showed Gulf One would have started as the #1 Corvette at Le Mans in 1963, had GM not enforced its racing ban by Thomas Glatch Chassis number: 3087S102227 W hen the new Corvette Sting Ray was introduced in late 1962, the Corvette was almost a perennial national champion in SCCA racing, but Corvette Chief Engineer Zora Arkus-Duntov took the game to a new level by slipping an obscurely labeled Regular Production Option (RPO) into the Corvette option list—Z06. Equipment included large heavy-duty drum brakes with cerametallic linings, vented backing plates, finned aluminum drums, and internal cooling fans, along with a dual-circuit master cylinder. The Z06 also featured stiffer front and rear springs, heavy-duty stabilizer bar and shock absorbers, a long-distance 36-gallon fuel tank, and finned aluminum knockoff wheels. Powertrain consisted of the L84 360-hp fuelinjected 327, an M20 4-speed manual transmission, and Positraction. The Z06 option added $2,480.20 to the price of the car, but for those who wanted a track-ready, all-out race Corvette, it was worth every penny. Chassis number 2227, Gulf One was the first of two Z06s delivered by Yenko Chevrolet to the Gulf Oil racing team led by Gulf Executive Vice President Grady Davis. Davis, a racer in his own right, planned to campaign the cars as part of Gulf's fuels-and-lubricants research and development program. The car was delivered to Gulf personnel at the St. Louis plant in October 1962, driven to corporate headquarters in Pittsburgh, prepared to Davis's specifications, and rushed to Puerto Rico for the first and only Puerto Rico Grand Prix. With Dr. Dick Thompson at the wheel, Gulf One scored the first class win of its career. After an A-Production victory at the “Refrigerator Bowl” in Marlboro, Maryland, in January 1963, Gulf One was then prepared to FIA rules for Florida's Daytona 24 Corvette Market WINTER 2009 www.vettemarket.com Details Years Produced 1963 Number Produced 21,513 (coupe and convertible) Original List Price $4,968.60 CM Valuation $31,500–$61,500 Tune-up $150 Distributor Cap $19.99 Chassis # Top of instrument panel at windshield base Engine # Pad on front of block below right cylinder head Club National Corvette Restorers Society 6291 Day Road Cincinnati, OH 45252-1334 More www.ncrs.org Alternatives 1963–65 Shelby Cobra 289 Comp, 1961–62 Jaguar XKE Factory Lightweight, 1971–73 Ferrari 365 GTB/4 non-factory Daytona Comp CM Investment Grade A Photos: Mecum Auction, Inc.


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Continental and Sebring 12 Hours races. In February, Thompson scored a huge 3rd place overall and 1st in GT3 at Daytona behind two Ferrari GTOs, following up in March with a disappointing gearbox failure at Sebring after an impressive qualifying performance. Thompson barnstormed Gulf One across the country, winning 1st place overall at the SCCA President's Cup at Marlboro and the A/Production class at Danville, Virginia, and Road America in Wisconsin. In all, Gulf One saw more racing combat in more venues than any of the other “Specially Assigned” factory Z06s and was always at the front of the pack. CM Analysis This car sold for $1,113,000, including buyer's premium, at the Mecum Muscle Cars & More Auction in Kissimmee, Florida, on January 24, 2009. It was a wonderful bit of showmanship, as 88-year-old Dr. Dick Thompson stood at the podium and proclaimed Gulf One looked better than when he raced it. Then noted Z06 authority Eric Gill revealed newly discovered documents that showed Gulf One would have started as the #1 Corvette in the 1963 24 Hours of Le Mans had GM not enforced its racing ban. The bids quickly hit the $1,000,000 mark, then stalled for what seemed an eternity. Finally a telephone bidder—a collector from Rhode Island—raised the bid by $50,000. The seller lifted the reserve and completed the sale. A million-dollar sale is always exciting, yet I had the sense that some in the audi- ence had hoped that the car would bring much more. The 1962 Grady Davis/Don Yenko/Dick Thompson Gulf Oil #2 Corvette that sold last August at Gooding for almost $1.5 million (CM# 117566, profiled in CM Fall 2008, p. 24) certainly set the standard, and Gulf One didn't come close. Yet this was a landmark sale for a Z06, the first to cross the milliondollar line, and only the second mid-year Corvette to do so. Only the Pininfarina 1963 Paris show car, the Corvette Rondine, sold for more at $1,760,000 (CM# 49099). Best of the Z06s Z06 Corvettes haven't really been knocking on the million-dollar door. This car previously sold at RM's Monterey event in August 2004 for $467,500, the high mark for Z06 racers at the time (CM# 34822). In January 2006, Russo and Steele attempted to sell the Delmo Johnson '63 Z06, but it failed to meet reserve at $900k (CM# 40449). And an unrestored '63 Z06, another Gulf Oil car raced by Thompson and Ed Lowther, got to just $155,000 and failed to sell at Mecum's St. Charles, Illinois, auction in October 2007. What the Gulf Oil #2 car has that 1963 Gulf One, or any other historic Corvette racer, lacks is its extraordinary originality. Gulf Oil #2 is simply a time-warp car, while the others are all restored. Plus, it can be argued that the Z06 never lived up to its potential, partly due to GM's untimely ban on racing in March 1963, and partly due to Carroll Shelby and his flyweight Cobras. But there is no denying that Gulf One was the best of the Z06 Corvettes, and with this sale, it assumes its rightful place with the elite of Corvette race cars. ■ (Introductory description courtesy of Mecum Auctions.) THOMAS GLATCH has been an automotive writer since 1983. His articles have appeared in Corvette Fever, Vette, Corvette Magazine, Sports Car Market, and elsewhere. www.vettemarket.com WINTER 2009 Corvette Market 25


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C2 profile 1963 Grand Sport Roadster #002 When I spoke to George about his car, he could not recall what he paid for it, but does remember selling it for the princely sum of $6,700 in 1967 by Michael Pierce Chassis number: 002 T he culmination of the Corvette's early development came in 1963 with the five Grand Sports. These were emblematic of the Corvette's potential and fired public imagination that a production-based sports car could hold its own with European marques at Le Mans, Daytona, the Targa Florio, Sebring, and Monza. The first hint of ambitions came with the 1957 Corvette SS, a lightweight front- engine race car. GM turned thumbs down on any racing program, but Dr. Dick Thompson raced it in the SCCA in 1959–60. Five Grand Sports were begun in 1962 with twin tube frames, beefy cross-mem- bers, and fully independent suspension. The engines were 377-ci aluminum masterpieces with hemi heads, dry-sump lubrication, and four side-draft Webers. The brakes were vented discs. Tests were made at Sebring, but the racing ban was reimposed. However, Zora Arkus-Duntov sneaked two cars out to Chevy dealer Dick Doane and Grady Davis of Gulf Oil, and Dick Thompson won SCCA C/Modified at Watkins Glen. Duntov then sent three cars to Nassau for Speed Week and they finished 3rd, 4th, and 6th. He planned on Daytona and cut down two cars into roadsters, but management intervened again and Chevrolet backed out of racing for good. Corvette Grand Sport s/n 002 has had several sympathetic owners over the years, including Roger Penske, and wound up with John Jaeger in 1990, still largely original. Jaeger exactly copied the body but replaced the 427-ci engine with a copy of the original 377-ci unit. Configured as it was in 1966, the car currently has a 427-ci engine and its replacement body, but the correct body and the 377-ci come with it. 26 Corvette Market WINTER 2009 www.vettemarket.com Details Years Produced 1963 Number Produced 5 coupes (2 converted to roadsters) Original List Price n/a—given away, not sold CM Valuation $5m–$10m depending on the car Tune-up $500 (valve adjustment, plugs, carb adjustment, timing) Distributor Cap Service replacement $12 (original $400–$500) Chassis # Driver's side frame in rear Engine # Engine pad surface Club National Corvette Restorer's Society More www.ncrs.org; Alternatives www.racingicons.com 1964–65 Shelby Cobra Daytona Coupe, 1966 Ford GT40 Mk II, 1960–62 Ferrari 250 SWB Alloy CM Investment Grade A Troy Wood


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CM Analysis This car was a no-sale at $4.9m at RM's Automobiles of Arizona auction, Early on Friday afternoon at the auction, 002, one of the most famous Corvettes held in Phoenix on January 16, 2009. built, and arguably the most valuable one ever to be sold at public auction, crossed the block. The crowd of several hundred was very quiet as the Grand Sport was pushed on stage. Standing with me in the back were Publisher Martin, Bloomington Gold Supremo David Burroughs, NCRS Senior Judging Chairman Roy Sinor, and noted collectors John Zupan, Dennis Clark, and Ken Gratteri; seats up front were for serious bidders only. We anxiously discussed what the car might sell for and the range of $6m–$10m was our collective best guess. Bidding opened at $2m and went slowly through several large jumps. The auctioneer mentioned an Internet bid and several phone bids. The large video display at the front of the room indicated the last bid we heard—$4.9 million. At that point, the screen flashed that the reserve was off and the car was “for sale”. There was a small cheer and then... silence. Someone walked up on stage and said something to the auctioneer, the auction abruptly ended, and the car was pushed off the stage without explanation. Audio-visual malfunction? Sudden change of heart by the seller? We may never know what happened that day at the Arizona Biltmore, but the car is still for sale through RM Auctions. Why is this Corvette so unique, and why will it surely bring many times the total value of the Million-Dollar Corvette Challenge the panelists at the CM Seminar picked as their collections? In early 1962, Zora Duntov convinced Bunkie Knudsen (GM of GM) that he had a viable “work around” to skirt the 1957 AMA ban on racing. His plan was to build a series of 125 “Lightweight” Corvettes to qualify for FIA homologation in the GT Class. Remember, Carroll Shelby had already been to GM and asked for a dozen 327s for his Cobra project but had been turned away. Shelby's next stop was Ford, which signed on. It always comes down to horsepower-to-weight The need for high-performance stop and go was clearly demonstrated at the Three Hour Enduro prior to the L.A. Times Grand Prix at Riverside on October 14, 1962. Ironically, it was the introduction of the early-production 1963 Z06 and the first outing of the Cobra. The Cobra weighed 2,200 lb, the Corvettes 3,100 lb. It almost always comes down to horsepower-to-weight ratios, and it was painfully obvious the Corvettes were in serious trouble. A lack of horsepower, braking capacity, and rear-end durability, plus poor aerodynamics and too much weight were the engineering issues. In this case, it was the car, not the driver. Five Corvette Grand Sport coupes were built under Duntov's tutelage in the GM Skunk Works. Before any more could be built, the powers that be at GM figured out what was going on, and his Lightweight project was absolutely stopped by GM's adherence to the AMA racing ban. For the next several years, the Grand Sports had limited success. The first engines used were 327/360 fuel-injected motors, just like those found in the Z06. Next came a hemispherical-head, multi-plug, SOHC, 377-ci engine with four double-barrel 58-mm Webers on a Cross Ram intake; a slightly modified version actually made it into several of the Grand Sports. In 1964, GM converted GS 001 and 002 into roadsters. The power of Cobra's new, dual-quad 427 models far surpassed the original 260 and 289 and made them even more formidable. Between the Cobras, GT40s, and Ferraris, the Grand Sports had little chance of success on the road racing circuit. Sold for the princely sum of $6,700 in 1967 GS 002 was one of the last of the five to race. After re- ceiving the haircut, it remained at GM until Roger Penske, www.vettemarket.com WINTER 2009 Corvette Market 27 who owned 001 and 002 (the roadsters) sold 002 to his friend and backer, George Wintersteen. Wintersteen went to Detroit and picked up the car directly from Duntov. He had it transported back to his shop in Pennsylvania, took the small-block out and installed a Traco L88, built for durability, not absolute horsepower. When I spoke to Wintersteen about his car, he could not recall what he paid Penske for it, but does remember selling it for the princely sum of $6,700 in 1967. He also owned GS 005 but was the only competition driver ever to race 002 in the 1960s. He is alive and well, living in Pennsylvania and speaks very enthusiastically about the glory days. As you can imagine, nearly every high-end Corvette junkie in the world was in the room to watch the Grand Sport, and every one of them was pulling for it to set a new record price. After all, rumor has it that the last Cobra Daytona coupe to change hands went for $11m, and if you're a Corvette guy, shouldn't GS 002 be worth as much? Maybe, but then again maybe not. What the Cobras have going for them is an extensive international racing history. They were tested in anger, against Ferrari, around the world, and earned their stripes. Due to the wrong-headedness of GM management, the Grand Sports were still-born, and we'll never really know just how good they could have been if Duntov had been let loose to develop them. It's safe to say that we were all disappointed the Grand Sport didn't sell. But on this day, in this location, $4.9m was the most anyone would bid, and that wasn't enough for the owner to cut it loose. ■ (Introductory description courtesy of RM Auctions.) MICHAEL PIERCE is a longtime NCRS Judge who ranks in the top few dozen. He has judged Corvette events around the world, and his own Corvettes have won Top Flight, Bloomington Gold, and Duntov awards. Dave Friedmam


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C3 profile 1971 350/330 LT-1 Coupe Once again, the presence of a knowledgeable, chatty owner to answer questions as prospective buyers studied the car very likely paid dividends by Roy Sinor Chassis number: 194371S117844 T he C3 Corvette LT-1 has become synonymous with the idea of a high-output small-block V8, and it carried the added bonus of an almost perfect 50/50 weight distribution. First appearing in 1970, the LT-1 offered 370-horsepower and 380 ft-lb of torque in a solid-lifter 350-ci small-block, along with an 11:1 compression ratio and a 0–100 mph time of 13.5 seconds. The LT-1 was a Corvette for buyers who wanted a bit more oomph. The 1971 models are among the least-changed Corvettes, as a labor dispute in May 1969 caused production to run long and shorten 1970 production by four months. GM continued the model into 1971 with almost all of the corporate resources directed toward a reduction in horsepower. The result was an LT-1 with 330 hp, 360 ft-lb of torque, and a 9:1 compression ratio. Even so, the 1971 LT-1 was tested by Car & Driver at six seconds from 0–60 mph, and from 0–100 mph in 14.5 seconds. The quarter mile took 14.57 seconds at 100.55 mph and top speed was measured at 137 mph. This beautiful Corvette coupe with matching numbers features the 350-ci/330-hp LT-1 engine with the mandatory options of a 4-speed manual transmission and Holley carburetor. Other options include power steering, AM/FM radio, tinted glass, and RWL tires. The car is one of 2,465 Mulsanne Blue Corvettes and is fitted with black vinyl interior, which is stunning. It is one of 1,949 LT-1s built in 1971 and probably one of just a handful with power steering. 28 Corvette Market WINTER 2009 www.vettemarket.com Details Years Produced 1971 Number Produced 1,949 (1306 coupes; 643 convertibles, approx.) Original List Price $6,314 (coupe), $6,077 (convertible) CM Valuation $25,000–$53,000 Tune-up $150 Distributor Cap $19.99 Chassis # Top of dash, driver's side Engine # Right front below cylinder head Club National Corvette Owners of America 900 S. Washington St., #G-13 Falls Church, VA 22046 More www.ncoa-vettes.com Alternatives 1970 Dodge Challenger T/A, 1970–71 Pontiac Trans Am, 1970–71 Chevrolet Chevelle SS CM Investment Grade C Photos: Barrett-Jackson


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The respectable performance figures of the 1971 Corvette with the LT-1 were lost for several years soon after the 1971 model year. The choking, downward trend continued for over almost two decades, with the numbers falling further in 1972 with the addition of more changes and the adoption of a different horsepower rating system. The 1972 LT-1 Corvette was down 31% from its peak to 255 hp. Some feel the performance never returned in the venerable small-block V8, which had been used in Corvettes since 1955. As the former owner of not only 1970, but also 1971 and 1972 LT-1s, I know for a fact that these cars are great performance vehicles. They drive, handle, and perform exceptionally well. In fact, I personally feel they are the best small-block, solid-lifter performance vehicle available. This particular 1971 LT-1 Corvette was a very nice example of the marque. The frame-up restoration to which this vehicle had been treated left little doubt that even though it was the only LT-1 present at Barrett-Jackson, it would have compared well with any other restored examples, anywhere. The fact it was the only LT-1 reinforces the rarity of the breed. Rare and very collectible, this 1971 LT-1 Corvette was treated to what appeared to be a professional, frame-up restoration completed in 2007 to the original factory build specifications. Overall, this is a very desirable car that looks great and we shall assume runs and drives accordingly. CM Analysis This car sold for $51,700, including buyer's premium, at Barrett-Jackson's Scottsdale auction on January 16, 2009. In 1971, Chevy's LT-1 Corvettes were the victim of a pre-emptive move that lowered compression, which GM mandated across the board to meet future 91-octane fuel requirements. The horsepower decrease that occurred as a result left the 1971 LT-1 at a much more conservative horsepower rating of 330, down from the previous year's 370 hp. These 1971 LT-1s are still a part of the great legacy of the small-block, solid-lifter 350-ci engine, and they were arguably the high-water mark of the small-block in a GM product. A good second choice to an LT-1/ZR1 Complete with the mandatory 4-speed manual transmission and federally mandated emissions system (“smog pump”), this numbers-matching LT-1 coupe, which I am told belonged to a retired GM employee, was built with the additional options of tinted glass (a feature you should consider a must on a Corvette that could not be purchased with air conditioning), power steering, AM/FM radio, and raised white letter tires. The presence of the knowledgeable, chatty owner to answer questions as prospec- tive buyers studied the car very likely paid dividends and probably left the potential buyer with a comfortable feeling with respect to the car. While the ultimate 1971 LT-1 would undoubtedly be one of the eight LT-1/ZR1 cars built in the production year, this one definitely runs a close second in desirability, given the fact that finding one of eight could be quite difficult and costly—undoubtedly well into six figures. I'd say that the gavel price of $51,700 left this Mulsanne Blue T-top both well bought and well sold. The new owner appears to have made an astute purchase of a great car at respectable money. And while the seller may have ended up on the short end of the stick, based on the costs involved with this caliber of restoration, he fared well enough in the present market. ■ ROY SINOR has been NCRS National Judging Chairman from 1996 to the present and is the owner of Sinor Prestige Automobiles, Inc. www.vettemarket.com WINTER 2009 Corvette Market 29


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C4 profile GM Heritage Fleet: C4 Dreams and C5 Mules Heritage Fleet Corvettes at Barrett-Jackson provided a fascinating insight into the ideas (good and otherwise) that surrounded the launch of the C4 and C5 by Thomas Glatch 1989 Corvette DR-1 Convertible—Lot 1218 G eneral Motors captured the spotlight at the BarrettJackson Scottsdale Auction from January 11–18, 2009, when it released 252 cars from its Heritage Fleet for no-reserve sale. 1989 Corvette ZR-1 Coupe—Lot 1230.4 (The Heritage Fleet must be differentiated from GM's Heritage Collection; the former are surplus or less important cars, the latter are the milestone cars that represent GM's 100 years of contribution to automotive history.) While many came with a scrap title (odd when you think who's selling the car), that was related to federal regulations, which don't have much to do with making a car work well. In the past, most of these vehicles would have been crushed, including 34 Corvettes, which provided a fascinating insight into dreams and ideas (good and otherwise) that surround the launch of a new model—in this case the C4 and C5. You'll have to do your own research on the blown big-block 1987 Chevrolet Sprint, the 1999 two-millionth Saturn, and the 2001 Pontiac Aztek Daytona 500 Pace Car (we are not making this up). Here we analyze ten of the most important Corvettes from the fleet that came under the hammer. 1989 Corvette DR-1 Convertible—Lot 1218 Sold for $286,000 on Saturday, January 17, 2009 While Chevrolet never sold a ZR-1 convertible, the possibility was investigated. Two ZR-1 coupes were converted into convertibles by Lotus and Chevrolet for evaluation. Also, a standard 1989 L98 convertible with an LT5 engine installed was built for engineering executive Don Runkle, which became known as the DR-1. While hardly as well known as the Snake Skinners or the Big Doggie, the Ice Blue DR-1 was the highest selling Heritage Fleet Corvette. Why? No one has ever said auction results were the least bit logical, and this is one of those results. Besides, think of the bragging rights the new owner has. 1989 Corvette ZR-1 Coupe—Lot 1230.4 Sold for $198,000 on Saturday, January 17, 2009 Chevrolet built 83 pilot ZR-1 Corvettes in 1989, 25 of which were sent to France for the now-famous press introduction. Since the ZR-1 was officially released as a 1990 model, most of the '89 cars had to be destroyed. This was one of the survivors, which was loaned to the automotive press and displayed at auto shows. Though this car, and most of the GM Heritage Fleet cars, can never be registered for street use, the new owner can proudly say he owns one of the few '89 ZR-1 Corvettes in existence, and its value can only increase in years to come. Well bought. And besides, between dealer plates and Alabama titles, never say never to getting a car on the street. 1989 Corvette ZR-1 Coupe “Snake Skinner”—Lot 396.1 Sold for $176,000 on Wednesday, January 14, 2009 The 1990 introduction of the Dodge Viper prototype stole some of the ZR-1's thunder. John Heinricy, Corvette engineer and racer, built the “Snake Skinner” as a response. Heinricy took one of the 83 1989 ZR-1 pilot cars, and using a Kevlar hood, plexiglass rear window, and other tricks, pared its weight to 2,700 lb. Mercury Marine also built a special 475-hp LT5 engine. The result was very fast—Heinricy broke the long-standing 0-to-100-to-0 record of 14 seconds set by a 427 Cobra with a time of 12.8. I'm surprised this was not the high-selling Corvette of the Heritage Fleet cars, since it received press in almost every magazine at the time, but it was priced about right just the same. A second Snake Skinner was built by Heinricy in 1991; that car (lot 1302) sold for $73,700. 1989 Corvette ZR-1 Coupe “Snake Skinner”—Lot 396.1 30 Corvette Market WINTER 2009 www.vettemarket.com 1989 Corvette ZR-2 “Big Doggie”—Lot 97 1989 “Active” Corvette ZR-1 Coupe Prototype—Lot 82 Photos: Barrett-Jackson


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RHD by Chevrolet Engineering, but the development, tooling, and certi1991 Corvette Convertible—Lot 907.2 1990 Corvette Right-Hand Drive—Lot 1356 1989 Corvette ZR-2 “Big Doggie”—Lot 97 Sold for $71,500 on Monday, January 13, 2009 One thing the ZR-1 lacked was the unique, torque-heavy performance of a clas- sic big-block V8. In response, engineer Scott Leon built the ZR-2, a 1989 Corvette powered by a modified 454 truck engine. It became known as the Big Doggie and was featured in many magazines and shown at Bloomington Gold in 1992. At a time when Corvette sales were dangerously low, GM considered building a production version, but assembly concerns (the engine did not fit between the stock frame rails) and challenging CAFE standards killed the project. This was an outstanding buy of a well-known and shockingly fun-to-drive one-off Corvette. 1989 “Active” Corvette ZR-1 Coupe Prototype—Lot 82 Sold for $150,700 on Tuesday, January 13, 2009 Computer-controlled, hydraulically adjusted active suspension was developed in Formula One racing and was so successful in increasing cornering grip and controlling vehicle dynamics that it was ultimately banned. The “Active” Corvette was built by Chevrolet Engineering to test a similar setup on the Corvette. Road & Track magazine reported, “Bumps and dips are not in the dictionary of an active suspension. They cease to exist.” It was predicted that active suspension would be in production in a few years, but it would have been a nearly $40,000 option, and it consumed as much as 40 hp, so it was never offered. A good buy on an important and unique engineering study. 1991 Corvette Convertible—Lot 907.2 Sold for $110,000 on Friday, January 16, 2009 In 1991, two ZR-1 convertibles were built on the Bowling Green assembly line. Adding the ZR-1's special wide bodywork and tires to a convertible would have required extensive re-engineering, so these cars were essentially stock L98 convertibles with the LT5 powertrain added. ZR-1 convertibles were considered to bolster sagging sales, but it was felt the convertible chassis was not strong enough for the LT5's additional power, and the project was cancelled. Vehicles used for engineering, testing, and marketing evaluation are normally destroyed, so this unique survivor was well bought and sure to appreciate. 1990 Corvette Right-Hand Drive—Lot 1356 Sold for $27,500 on Sunday, January 18, 2009 Bob Lutz has said the seventh generation Corvette would be developed in both left- and right-hand-drive versions. It wouldn't be the first time GM considered a righthooker Corvette, since some RHD countries like Australia severely restricted the use of LHD cars (this has now relaxed somewhat). This 1990 Corvette was converted to fication required to produce such a car at Bowling Green were deemed too expensive for the limited market it would have served. While hardly a news-maker like the Snake Skinner or the Big Doggie, a one-of-a-kind engineering study for the price of a new Malibu is an excellent buy. And if you live in England, Australia, or the Maldives, here's the Corvette for you. 1989 Corvette “Splash” Custom—Lot 1599 Sold for $71,500 on Sunday, January 18, 2009 Chevrolet built 60 RPO R7F cars for the 1989 Corvette Challenge series. Of those, 29 were equipped by organizer Jim Powell for the series. This car was one of those 29, but it never raced. Instead it was used by Chevrolet as a promotional vehicle for the series and displayed at auto shows and other events. The eye-catching paint scheme was designed by Corvette stylist John Cafaro. The Corvette Challenge cars are starting to show signs of life in the marketplace, and this one, with its unique history, may be one of the most desirable. 1997 Corvette “Alpha Build”—Lot 470.1 Sold for $41,800 on Wednesday, January 14, 2009 Long before the first C5 Corvette rolled off the Bowling Green assembly line, engineers racked up thousands of development miles in 14 “alpha” cars. Though crude compared to the final product, these cars helped refine the design. Pre-production cars rarely see the light of day, and most are destroyed either during development or after they are no longer needed. GM wisely kept one of the “alpha” cars, and the new owner has a piece of Corvette history that cannot be duplicated, and may someday be as valuable as other one-of-a-kind Corvette prototypes. 1997 Corvette “Beta Build”—Lot 470 Sold for $41,800 on Wednesday, January 14, 2009 After extensive development of the “alpha” proto- types, the C5 team built about 30 “beta” cars that were even closer to the final design. Like the black “alpha” cars, the white “betas” were heavily camouflaged to protect them from automotive spies. Sold as a set with the “alpha” car, the new owner now has two of the most important development Corvettes ever shown to the public, much less sold to the public. General Motors did Corvette fans a huge favor by saving these special cars from the GM Heritage Fleet for future generations. ■ 1989 Corvette “Splash” Custom—Lot 1599 1997 Corvette “Alpha Build”—Lot 470.1 1997 Corvette “Beta Build”—Lot 470 www.vettemarket.com WINTER 2009 Corvette Market 31


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C5 profile 1998 Callaway C12 Coupe This hairy beast is two meters wide, squats lower than GM stock shares, and it goes like the devil on meth by John L. Stein Chassis number: 1G1YY22GXW5121169 C allaway has built a firm reputation for producing some of the most sophisticated and advanced Corvette-based automobiles ever to hit the road. Callaway's C12, introduced in 1998, continued this legacy. Designed, developed, and constructed with the assistance of German engineering and development company IVM, the C12 was created from the outset to be a bespoke, high-performance car that offered its occupants a civilized interior and relaxed ride. The Callaway C12 serial number is the same as a standard production Corvette, but the C12 is in no way standard. With aerodynamic bodywork fabricated from fiberglass, carbon fiber, and Kevlar, a massaged aluminum V8, heavily revised suspension, enormous disc brakes, and a thoughtfully upgraded interior, the Callaway C12 is a custom-built American supercar. It is so different from its Corvette base that cars sent to Europe were titled as Callaways. Very few of these exclusive cars were made, as most were built specifically to customers' orders. This striking Callaway C12 is the first example constructed. As such, it was fea- tured in a number of road tests for automotive magazines. In 1998, it was on the cover of Road & Track and Motor Trend, both of which championed the car. After its press use, the car was delivered to Los Angeles Times publisher Otis Chandler. Nearly a decade later, this C12 appears like a new car inside and out. The perfor- mance offers a purported 0–60 mph time of 4.2 seconds on the way to a top speed of nearly 190 mph. Despite its performance, the C12 is luxuriously equipped and is docile around town. Rarity, provenance, history, and performance make this Callaway a distinctive alternative to today's top-of-the-line Corvettes. CM Analysis This car sold for $57,200, including buyer's premium, at the Gooding & The concept of rebodying fine motorcars is nothing new, and some of the most Company auction in Scottsdale, Arizona, on January 17, 2009. 32 Corvette Market WINTER 2009 www.vettemarket.com esteemed coachbuilders of the 20th century earned their reputations by doing just that. Although he had other choices, Reeves Callaway chose the fifth-generation Corvette as the basis for the C12, just as he later chose the sixth-generation platform for the C16. At the company's Leingarten, Germany, race shop, Details Years Produced 1997–2001 Number Produced 20 Original List Price $178,500 CM Valuation $75,000–$125,000 Tune-up $750 Distributor Cap n/a Chassis # Lower left windshield corner Engine # Right front cylinder head deck Club www.callawayownersgroup.com Alternatives 2004–present Aston Martin DB9, 1996–2003 Ferrari 550 Maranello, 1990–99 Lamborghini Diablo CM Investment Grade B Photos: Gooding & Company and Pawel Litwinsky


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production Corvettes were stripped of their interior, engine, suspension, and most body panels, and then rebuilt with wider suspension control arms, coil-over shocks, and Alcon brakes. A luxuriously reworked interior was also added, while the LS1 engine was sent to Connecticut for a powerful upgrade to 440 hp. But the pièce de résistance was an arresting Paul Deutschman-designed Kevlar and fiberglass body that transforms the familiar Corvette C5 shape into a genuine headturner. Just 20 were built. So how does history judge the Corvette- turned-Callaway now that a decade has passed? Based on this Scottsdale auction result, not so well—at least not yet. A meteoric price plunge Based on SCM's own analysis, a 1998 Corvette C5 originally listing for $37,495 is worth $17,000 to $22,500 today, or 45% to 60% of its original value. But this 1998 Callaway C12, base-priced at $178,500 (with most optioned up over $200,000), retained at best 32% of its value during its recent trip across the auctioneer's stage. Formerly owned by the late L.A. Times publisher Otis Chandler, it sold only two years ago at Gooding's Oxnard sale in December 2006 for $121,000 (SCM# 43482). At that point it registered 782 miles; now it has over 4,000, but still… The meteoric plunge likely has much to do with our present economic troubles, along with the availability of newer über-Corvettes like the C6 Z06 and ZR1, Pratt & Miller C6RS, and even Callaway's own C16. Not to mention the downward value spiral that often affects high-end vehicles, late-model Ferraris included. Some Callaways have recorded strong results—albeit in the heat of the muscle car boom in 2004—but a number have sold at auction in the $50,000 range. At the top of the list, 1988's landmark 254-mph “Sledgehammer” C4 sold for $221,400 (SCM# 32421) and the 1998 C7R racer with FIA history brought $216,000 (SCM# 32422)—both at Barrett-Jackson Scottsdale. “It has to be a real car, not just a showboat or an overpowered sports car,” Callaway said of the C12 in 1998. “It has to genuinely appeal to the man who is going to use it every day, who has had plenty of opportunity to have other cars in the past. He's not buying the car for a statement. He wants power, speed, and grace from a car built by a group of men who are doing something the best way they know how.” I don't buy for a second that someone spending the better part of 200 grand for an audacious two-seater doesn't want to make a statement, and one drive in the C12 proves that it may well be impossible to avoid it. In fact, driving this Callaway is like commanding the road—and the attention of every motorist and pedestrian, too. This hairy beast is two meters wide, squats lower than GM stock shares, and it goes like the devil on meth with the sewing-machine smoothness that only a well-built race motor can provide. True fact: When other drivers see the C12 closing in their mirrors, they often simply move over. That alone may be worth the $57,200 the buyer paid for the Chandler C12. Very well bought indeed. ■ (Introductory description courtesy of Gooding & Company.) JOHN L. STEIN served as editor of Corvette Quarterly from 1998 to 2005, the only independent editor to lead GM's flagship magazine. www.vettemarket.com WINTER 2009 Corvette Market 33


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C6 A Selection of C6s that sold recently on eBay 2005 Chevrolet Corvette coupe EBay #250355180682. S/N 1G1YY24U855112567. Red/beige leather. Odo: 15,667 miles. 22 Photos. Daytona Beach, FL. “THE CAR FROM THE WRANGLER JEANS COMMERCIAL...[the C6] Corvette débuted in Wrangler Jeans commercial with Dale Earnhardt Jr. before the 2005 Daytona 500. Dale Earnhardt Jr. signature... above A/C vents. Authenticity photographs of Dale Jr. with female owner. Vehicle on television as well as magazines. Photographs of Dale Jr. Inside and outside of vehicle. Female owned and operated. NonSmoker, Automatic, cashmere interior has everything except navigation and Z51performance package.” 18 bids, sf 94, bf 0. Cond: 2. have bumped the price at least 30%. I guess it is starting to sink in that it's going to be a long time before the next 'Vette is launched... maybe in time for Dale III to wear some jeans near it. CM Analysis SOLD AT $39,100. Surprisingly, Dale's signature and photographs (fingerprints? trace DNA?)—not even ownership—does seem to 2005 Chevrolet Corvette coupe EBay #250364460401S/N 1G1YY24U555112042. Black/tan leather. Odo: 85,105 miles. 47 Photos and 1 Video. Atlanta, GA. 1 owner. 6-speed, navigation. “The body is nice and straight and the paint has a deep glossy shine. It is black so it does show some very minor surface scratches here and there that a high speed buffer should be able to correct... The interior looks great and the dash does not have any cracks or fading... The 6.0L powerplant starts right up with the push of a button, does not smoke, and has tons of power! This 400hp beast is very fast yet it can get over 28mpg on the highway!” 1 Best-Offer bid, sf 487, bf private. Cond: 3. CM Analysis SOLD AT $19,500. Seller thinks, “You will be hard pressed to find a comparable C6 at this price!” I have to agree, given that the only three sub-$24k 'Vettes on Auto Trader are all wrecks. Well bought. 2005 Chevrolet Corvette coupe EBay #320334579627. S/N 1G1YY24U255123838. Black/black leather. Odo: 7,989 miles. 18 Photos. Cookstown, NJ. 6-speed. “There is a $2500 Corsa Performance Exhaust System Installed. Magnetic Selective Ride Control, AM/FM CD with DVD Navigation, Bose Premium 7 Speaker System, Dual Roof Package, Polished Aluminum Wheels, Onstar System, Sirius XM System.” 12 bids, sf 24, bf 550. Cond: 1. CM Analysis SOLD AT $27,200. If you have about $25k and are looking for a black '05 Corvette, this is the one you want—immaculate, very low miles, and tasteful, expensive accessories. Well (found and) bought. 2005 Chevrolet Corvette coupe EBay #400028268779. Black/black leather. Odo: 46,701 miles. 39 Photos (not including headshot of smiling salesman). Houston, TX. 6-speed. “This Corvette is sleek and stunning to look at and even more fun to drive... Please Note: The Targa Top Glass is Slightly Spiderwebed.” Free Limited Warranty. “No questions asked BuyBack guarantee. We are the largest eBay Motors dealer in the world.” 4 bids, sf 2590, bf 102. Cond: 2-. CM Analysis SOLD AT $24,980. The rule of thumb is that most new cars depreciate 25% in the first year (or in excess of $50k, this one is falling faster than the average car. Is the economy to blame? Probably. I call this market price, because high-line cars of all makes have been similarly spanked over the past six months. Too bad they don't make a Head Up Display for economic indicators... 2005 Chevrolet Corvette coupe EBay #360125143682. S/N 1G1YY24U655100434. Black/gray leather. Odo: 21,432 miles. 51 Photos. Vienna, VA. 6-speed, navigation. “Black exterior is beautiful. A few small scratches of course... nice as it is it is still used and not new. No large scratches, dings, fiberglass damage etc... The 5.7 Litre engine runs perfect and the six speed manual transmission shifts perfect. Virginia Inspected and ready for a new owner. Also has a valid Maryland Inspection... if you live in Maryland you know how important that is... especially on a car like this one!!” 25 bids, sf 1364, bf private. Cond: 2-. CM Analysis SOLD AT $25,200. The Maryland comment was odd, as I can't imagine it's all that hard to pass MD inspection with a stock four-year-old car. Hmm. Still, the seller was spot on in calling it “a beautiful Vette for the price with only 21,432 Original Miles.” Well bought. ■ minute), and another 25% over the next four years, for a total of 50% in five. With a new car price mini profiles Condition inferred from seller's descriptions; cars were not physically examined by the author. All quoted material taken from the eBay listings. sf=seller's feedback; bf=buyer's feedback 34 Corvette Market WINTER 2009 www.vettemarket.com


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Market Report Overview 134 Corvettes, $18.2m in Sales Good cars still generally brought consistent prices, but many sellers had to adjust their expectations by Jim Pickering T he end of 2008 and the beginning of 2009 saw continued economic turbulence throughout the country and around the world, and all eyes turned to Scottsdale in January for the 2009 auctions. Many wondered just how the numbers of Corvettes, both offered and sold, would be affected. CM's Auction Analysts made their way to the Arizona auctions, as well as others across the U.S. and abroad, and for the most part, good cars continued to bring consistent prices for their sellers, while examples with stories or high-dollar expectations again showed themselves to be a much harder sell. RM's 1963 Grand Sport was easily the most talked- about Corvette in recent months, as with only five examples in existence, the opportunity to own one is extremely rare. After much pre-sale speculation as to the market value of such a car, it failed to sell across the block in Phoenix at $4.9m, but as of this writing, it is still for sale through RM; sources tell us that a number that starts with a “5” should buy the car. Corvettes were out in force at Barrett-Jackson's Top Ten Sales This Issue 1. 1963 Corvette Z06 Yenko Gulf One coupe, $1,113,000—Lot# S110, p. 58 2. 1969 Corvette COPO L88 convertible, $323,300—Lot# S142, p. 62 3. 1989 Corvette DR-1 convertible, $286,000—Lot# 1218, p. 44 4. 1957 Corvette 283/283 convertible, $265,000—Lot# S138, p. 56 5. 1967 Corvette 427/430 convertible, $176,000—Lot# 1247, p. 44 6. 1989 Corvette ZR-1 Snake Skinner coupe, $176,000—Lot# 396.1, p. 44 7. 1967 Corvette 427/435 convertible, $165,000—Lot# 807.1, p. 70 8. 1990 Corvette ZR-1 Active Suspension Prototype coupe, $150,700—Lot# 82, p. 44 9. 1963 Corvette 327/360 coupe, $137,500—Lot# 1263.1, p. 40 10. 1965 Corvette 396/425 convertible, $114,400—Lot# S683, p. 50 Best Buys 1. 1989 Corvette ZR2 Big Doggie convertible, $71,500—Lot# 97, p. 44 Scottsdale event in January, with 127 cars on offer, ranging from restored '54s through the several examples of the newest ZR1. Over 250 cars from the GM Heritage Fleet were sold here, including several pre-production 1989 ZR-1s, “Alpha” and “Beta” build C5 engineering mules, and the only big-block C4 built, known as the “Big Doggie.” The high-selling Corvette of the auction—the only ZR-1 convertible built, a pre-production '89 known as the DR-1—came from this collection, selling at $286,000, a very healthy result. Aside from GM's additions to the auction, Barrett- CM 1–6 Scale Condition Rating: 1: National concours standard/perfect 2: Very good, club concours, some small flaws 3: Average daily driver in decent condition 4: Still a driver but with some apparent flaws 5: A nasty beast that runs but has many problems 6: Good only for parts Jackson again brought a decent selection of both restored examples and drivers, but the high end of the market fell off a bit, and final auction totals dropped from last year's $85m to $61m. Although 28 more cars were offered this year, Corvette sales dropped by $2m overall—from $11.8m in 2008 to $9.8m this year—and the average price per car—for all cars, not just Corvettes—fell from $74k last year to $57k this year. Still, $61m in sales is nothing to be taken lightly, especially in this economy. Russo and Steele's ninth annual Scottsdale auction took place just up the street from Barrett-Jackson, and this year's event saw 23 Corvettes change hands. The high sale went to a 1967 427/435 convertible at $121k, and of the 23 cars sold, only two others crossed the $100k mark. Russo's general auction totals fell only about $1m to this year's $17.5m, vs. last year's $19.1m, while its Corvette totals fell $700k from last year's $2.3m to this year's $1.6m. 2. 1962 Corvette 327/360 convertible, $98,450—Lot# F540, p. 50 3. 1990 Corvette ZR-1 coupe, $26,400— Lot# TH218, p. 53 4. 1971 Corvette 454/365 coupe, $20,140— Lot# F23, p. 62 5. 1984 Corvette coupe, $2,592— Lot# Sun145, p. 73 Mecum Auctions returned to Kissimmee, Florida, for its annual late-January auction, and this year's event saw 86 of 153 Corvettes change hands for a total of $4.9m—or $400k more than last year's $4.5m take for 100 of 156 cars. The most notable Corvette of the group, and the weekend's high sale, was the 1963 Gulf One Z06 racer. Presented by “The Flying Dentist” himself, Dr. Dick Thompson, it hammered sold at $1.1m. Last year's rain and mud were replaced by pleasant weather throughout the weekend, and despite a slow start to the sale, Mecum saw an increase in final totals from $15m to $16.4m. Although sales figures for Corvettes at auction were in many cases down from the levels of just a few months ago, gloomy predictions about just what the state of the market would be throughout the beginning of 2009 did not come true. What is clear is that buyers have become even more careful with their money, and sellers' price expectations have become just as important to the market as the quality of their cars. ■ 36 Corvette Market WINTER 2009 www.vettemarket.com


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Market Report Barrett-Jackson Scottsdale, AZ 37th Annual Scottsdale Collector Car Auction GM Heritage Corvettes range from high surprises to unrepeatable, out-and-out bargains Company Barrett-Jackson Date January 11–18, 2009 Location Scottsdale, Arizona Auctioneers Assiter & Associates Tom“Spanky”Assiter, lead auctioneer Corvettes sold / offered 127/127 Corvette sales rate 100% Corvette sales total $ 9,808,700 Corvette high sale 1989 Corvette DR-1 convertible, sold at $286,000 Buyer's premium 10%, included in prices of sold lots Corvettes accounted for 16% of B-J's $61m haul Report and photos by Paul Duchene, Jim Pickering, and Dan Grunwald Market opinions in italics C orvettes took their appointed place at Barrett-Jackson's Scottsdale Auction January 11–18, occupying 12% of the 1,075 lots on offer, and selling for an average of $78,234 apiece. High sale was the sole 1989 L89 Corvette convertible from the 252-strong GM Heritage Fleet, the DR-1, which fetched a surprising $286k. At the other end of the sale, a tired '81 coupe could be had for $8,250 and wasn't quite the bargain it seemed, even at that. But the buy of the auction (and possibly of the entire week) had to be the sole big- block C4 Corvette—the orange 1989 “Big Doggie” convertible—powered by a 454-ci V8 and sporting a factory hard top. Selling early in the week before anybody was ready, it hammered down at a measly $71,500. “I expect I'll pay $100k more than that when I buy it,” sighed one noted Corvette collector. The GM Heritage Fleet consisted of excess Barrett-Jackson Corvette Sales Total concept cars and show vehicles, as well as restored GM vehicles. These were greeted with great enthusiasm and made some surprisingly high prices. But they were nearly all cars that could not be titled, and bidders were warned that the lot was sold without warranty or guarantee of any kind as to the ability of said lot to perform in any capacity or pass any emission or other standard or the ability to be titled legally anywhere. The VINs were in some cases complete and in some cases were very short, beginning or ending in 38 Corvette Market WINTER 2009 www.vettemarket.com $15m $12m $9m $6m $3m 2009 2008 2007 2006 2005 2004 2003 an “EX,” which designated experimental. Most were sold on a scrap title and many without even an MSO and on a bill of sale only. Other significant cars from the collection included one of the 83 pilot-built Corvettes in 1989, all of which were supposed to be destroyed. It brought $198k. The 475-hp, lightweight “Snake Skinner” was a snap at $176k, and “Snake Skinner II” might have been a real buy at $73,700. The “active suspension” 1989 ZR-1 prototype, fitted with all the F1 trickery and tested by World Champion Damon Hill, sold for $150,700 (“And who's going to repair that?” said a wag in the audience). And the sole RHD 1990 Corvette must surely be bound for Australia at a bargain $27,500. Finally, a pair of “Alpha” and “Beta” build C5 proto- types went away for $41,800 apiece, surely a good deal on pieces of history that almost never survive the crusher. Overall, Corvettes were a strong part of the action at Barrett-Jackson this year. If prices had softened a little overall, you couldn't tell it from many of the Corvettes. There were some excellent cars on offer. How about an “as-new” 2008 Lingenfelter C6 coupe for $105,500, or the sole LT1—a lovely 1971 Mulsanne Blue 4-speed car that sold for $51,700, or any yellow car—clearly the hot color this year. ■


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Market Report C1 #1257.1-1957 CHEVROLET CORVETTE convertible. S/N E57S104018. Venetian Red & beige/beige miles. 283-ci 283-hp fuel-injected V8, 4-sp. Frame-off restoration car. Nitrocellulose lacquer with lots of buffing marks, panel fit typical of factory production. Both tops, radio, heater. Clean underhood, with original style hose clamps. Cross-ply whitewall tires. Cond: 2+. SOLD AT $103,400. A very pretty car that sold mid-money and felt like an older restoration, even if it wasn't. Is it possible that the predominance of red and black cars is finally becoming a negative? “Resale yellow” doesn't have the same alliterative ring to it, but that was the color to have this year. #1263-1957 CHEVROLET CORVETTE convertible. S/N E57S103835. Cascade Green & beige/tan canvas/beige vinyl. Odo: 81,270 miles. 283-ci 250-hp fuel-injected V8, 4-sp. Frame-off restoration of an 81,000mile car. One of 664 fuelie cars in 1957. Handsome color, excellent body fit, cross-ply wide whites. Lovely interior, clean and correct underhood. Cond: 1-. SOLD AT $110,000. There was no mention of matching numbers, but this car still sold near top dollar. Once again an unusual color and superior workmanship combined for a high-level result. If it's not a matching-numbers car, it was very well sold, as pretty as it was. Otherwise, a bit of a buy, I'd say. #998-1958 CHEVROLET CORVETTE convertible. S/N J58S106507. Panama Yellow & white/white vinyl/charcoal vinyl. Odo: 44,329 miles. 283-ci 245-hp V8, 2x4-bbl, 4-sp. Another 2008 frame-off restoration of a matching-numbers car with photo documentation. Very attractive and quite rare as one of 199 40 Corvette Market WINTER 2009 www.vettemarket.com new weatherstripping. Clean underhood, good plating, show-quality smooth bodywork, tidy interior. Cond: 1-. SOLD AT $90,200. This car was slightly better than a similar 1960 and made a little more money. Both came in at top book for this model, but there was no harm done in either case. Anyone tracking auctions closely might wonder if 100% of black and red cars have survived... maybe even more. #1342-1962 CHEVROLET CORVETTE Resto-Mod convertible. S/N 20867S100572. Black/black vinyl/red leather. 327-ci V8, 2x4bbl, 4-sp. Resto-mod with crate engine, dual Edelbrock carbs, 4-speed, aluminum radiator, rack-and-pinion steering, and Vintage Air. Art Morrison chassis, C4 suspension, coilover shocks, 4-wheel Baer disc brakes, Foose wheels, 9-inch Ford rear, Dakota Digital dash. Cond: 1-. SOLD AT $104,500. Not nearly as garish as it sounds, and very well done throughout. The problem with building your dream car manual brakes, Posi. Reportedly with very complete documentation. Cond: 1-. SOLD AT $137,500. What CM's '63 Split-Window should have been, and worth correspondingly more than double the CM car's selling price. A lovely car which vividly illustrated the iconic status of this model. $12,500 over high book and I still say it's a good buy. There's the best and there's the rest. #1350.5-1963 CHEVROLET CORVETTE convertible. S/N 30867S114643. White/white vinyl/black vinyl. Odo: 3,641 miles. 327-ci 360-hp fuel-injected V8, 4-sp. Described as an “amazingly original” car with a restamped replacement engine. Clean engine, power brakes, new master cylinder, aftermarket knockoffs. in Panama Yellow with white coves. Typical body fit issues, engine spotless. Very nice interior, Wonderbar radio, wide white Firestone tires. Cond: 1-. SOLD AT $93,500. Panama Yellow must be the new black, to use a fashion term. This car came in $5,500 over top book and made for an interesting comparison with lot 1246. Also a Panama Yellow 1958 model, it had fuel injection and sold for $134,200, which was $9,200 over market price. Both well bought and sold. #980-1960 CHEVROLET CORVETTE convertible. S/N 00867S108132. Tuxedo Black & silver/black vinyl/red vinyl. Odo: 15,164 miles. 283-ci 270-hp V8, 2x4-bbl, 4-sp. Numbers matching with older body-off restoration and photo record. Wrinkled top, typical uneven panel fit, trunk sits high suggesting is that it's very seldom anybody else's dream. In this case, however, somebody agreed with the seller and paid almost the price of a stock fuel-injected '62. See profile, p. 22. C2 TOP 10 #9 #1263.1-1963 CHEVROLET CORVETTE coupe. S/N 30837S110651. Silver/dark blue vinyl. Odo: 45,432 miles. 327-ci 360-hp fuel-injected V8, 4-sp. Bloomington Gold Award, two NCRS Top Flights, Duntov Mark of Excellence. Paint too nice, but not fresh. Very clean and correct underhood. Excellent interior, cross-ply tires, vinyl/beige vinyl. Odo: 21 of matching-numbers Barrett-Jackson Scottsdale, AZ


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Market Report Barrett-Jackson Scottsdale, AZ Paint nice but there's lots of it, chrome wavy, door fit shows issues. Decent top and interior. Cond: 2. SOLD AT $60,500. Last seen at Worldwide's Houston Classic sale in May '07, where it sold at $67,100 (CM# 45303). If you want to know what matching numbers are worth, here's your answer. This was a very nice looking local show/driver quality car that somebody will enjoy—at least away from the big leagues. If the relationship that really matters is the one between driver and car, this was a good buy. #421-1965 CHEVROLET CORVETTE convertible. S/N 194675S110411. Nassau Blue/white vinyl/blue vinyl. Odo: 8,560 miles. 327-ci 350-hp V8, 4-bbl, 4-sp. Matching-numbers car. Claimed original paint shows what looks like some evidence of respray. New interior and dash, new top, claimed factory knockoffs and sidepipes. Panel gaps typical, fenders production knockoffs. Gaps consistent, excellent paint is shinier than original under hood. Factory side exhaust, teak wheel, and Goldline tires. Factory papers, Protect-O-Plate. Cond: 1-. SOLD AT $84,700. Clearly good work. A lovely car in a great color that just needs to age and develop a bit of patina. Sold mid-money and rather well bought, I'd say. With a/c, the temptation will be to drive it. clearanced for tires, chips in left front fender, replacement chrome. Door lock knob missing, panel fit decent but top cover gaps rather wide on right. Cond: 2-. SOLD AT $61,600. Very pretty car with a lot of eye appeal. Sold for mid-market money, which suggests buyers had some reservations. No harm done anyway—just drive it and be admired. #1233-1966 CHEVROLET CORVETTE convertible. S/N 194676S127008. Sunfire Yellow & black/black vinyl/black vinyl. Odo: 19,144 miles. 427-ci 500-hp V8, 4-bbl, 4-sp. Body-off restoration to exciting driver expectations. Non-matching modified engine, repro sidepipes and knockoffs, '67 big-block stinger hood. 3.70 Posi, AM/FM radio. Poor top and door fit, nice and bright yellow paint. Cond: 2-. SOLD AT $77,000. Obviously built as a fun driver and-to-hell-with-the-rest-of-you... I'd expect this to work very well but involve uncomfortable conversations with purists. So 184376S121120. Nassau Blue/black vinyl. Odo: 54,447 miles. 327-ci 350-hp V8, 4-bbl, 4-sp. Appears to be a well-sorted car repainted in a great color, but with restamped TOP 10 #5 #1060.1-1966 CHEVROLET CORVETTE coupe. S/N “step on the gas and wipe that tear away.” Very well sold. #1244-1966 CHEVROLET CORVETTE coupe. S/N 194376S115016. Sunfire Yellow/ black vinyl. Odo: 46,775 miles. 427-ci 390-hp V8, 4-bbl, 4-sp. Matching numbers car with $100,000 frame-off documented restoration in 2008. NCRS Top Flight and Bloomington Gold awards. Fitted with factory a/c and re- shoulder harness, and side exhaust. One of the original 13 Tangier Shriner COPO Corvette Patrol cars. Orange peel and bubbles in paint, numbers “restored” to match. Cond: 2. SOLD AT $176,000. First seen at Kruse Scottsdale in January '98, where it failed to sell at $100,000 (CM# 21002). Seen again at Cox Branson in October '05, where it failed to sell at $200,000 (CM# 39603). Interesting period concoction with value in having been done at the time by a dealer who had access to all the correct parts. Considering that documented original '67 L88s are knocking on the door of $2m, this would seem to be a screaming deal with a story that's fun to tell. Very well bought, even with its baggage. #987-1967 CHEVROLET CORVETTE convertible. S/N 194677S111876. Marina Blue/black vinyl/blue leather. Odo: 52,817. 327-ci 300-hp V8, 4-bbl, auto. Recent frame-off restoration of a matching-numbers car. Fitted with pw, a/c, AM/FM radio, ps, pb, headrests, tilt/telescopic column, Redline tires, and Rally wheels. Beautiful paint and chrome, excellent engine, reproduction knockoffs and sidepipes, rebuilt suspension, and rechromed bumpers. Wipers need adjustment, passenger's door fit not great. Goldline tires. Cond: 2+. SOLD AT $68,200. This looked like a super driver that had been honestly presented, and this midmarket bid was probably on the money in this case. Go and have fun. #1247-1967 CHEVROLET CORVETTE convertible. S/N 194677S102390. White & red/white vinyl/red vinyl. Odo: 1,281 miles. 427-ci 430-hp V8, 4-bbl, 4-sp. Previously represented as an original L88, started life as a 327/300 car belonging to Garwood Anderson of Anderson Chevrolet in Wahoo, NE. Upgraded to L88 with M22 4-speed, J56 big brakes, big radiator, radio/heater delete, 42 Corvette Market WINTER 2009 www.vettemarket.com panel gaps, nice interior. Very tidy under the hood. Cond: 1-. SOLD AT $99,000. Last seen at Mecum's St. Charles sale in October '07, where it sold at $70,875 (CM# 47069). So much for horsepower, somebody paid $5,000 over top dollar here for a 300-hp Powerglide convertible with a/c. Here's the conundrum. It's too nice to drive, but how could you resist? Very usable and stylish. I think if you could afford to buy it, you could afford to drive it. #936.2-1967 CHEVROLET CORVETTE convertible. S/N 194677S113712. Sunfire Yellow & black/black vinyl/black leather. Odo: 60,225 miles. 327-ci 350-hp V8, 4-bbl, 4-sp. Numbers matching example with good repaint, said to have been delivered new with sidepipes. Fitted with pw and big-block hood


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Market Report Barrett-Jackson Scottsdale, AZ features. Built when money was no object for GM and going fast was the goal. I thought it looked a bit ragged, so I got in a couple of bids in the vain hope of sneaking it into my garage. Everybody in Arizona must have been thinking the same thing, as the price quickly shot to this level. Expensive, but likely worth it to a serious Corvette collector. with stripe not typical of factory production. Passenger's door fit wide, cracks in body by passenger's door. Luggage rack, good bumper chrome, nice leather interior, window fuzzy strips bare. Includes spare, jack, tools, window sticker, and owner's manual. Cond: 2. SOLD AT $63,800. Last seen at Barrett-Jackson's Las Vegas event in October '08, where it sold at $55,000 (CM# 118333). Mid-market for this model, mostly because of details that merited attention. If the new owner corrects some odds and ends, he could make money. I'd say well bought. C3 #452-1969 CHEVROLET CORVETTE coupe. S/N 194379S700172. Fathom Green/ black vinyl. 427-ci 400-hp V8, 3x2-bbl, 4-sp. Repainted with indication of left rear repair, fender gaps uneven. Torq-Thrust wheels, Goodyear Eagles, AM/FM radio, transistor ignition, enormous coated sidepipes. Driver's door lock looks to have been punched TOP 10 #3 Mid-money, but a grade one collectible that can't go anywhere but up. A right car, and at this price, I say very well bought. C4 #96-1989 CHEVROLET CORVETTE ZR-1 coupe. S/N 1G1YZ21J3K5800074. Purple/black leather. Odo: 21,610 miles. 350ci 375-hp fuel-injected V8, 6-sp. One of 83 pre-production ZR-1s built and never released miles. Paint lovely, with gold metallic overtone. Rubber and panel fit good, lacks central brake light. The personal car of Engineering's Don Runkle. Cond: 1-. SOLD AT $286,000. This was the car the ZR-1 faithful were waiting for, and bidding was fast and furious. Undoubtedly heading for a serious collection and unlikely to sell for less, ever. Well bought. for public sale. Used for press events and auto shows. Paint shows light use, usual bolster and seat wear for miles indicated. Cond: 2. SOLD AT $110,000. A rare collector Corvette from GM Heritage. The purple color didn't work for me, but it really doesn't matter here, as this was rare with a capital R. TOP 10 #6 and repaired. Missing hub screws, lug nuts mismatched. Cond: 3-. SOLD AT $35,200. Last seen here in January '08, where it sold at $38,500 (CM# 51929). Good color and equipment, but looks like it has stories you wouldn't want to hear at bedtime. Those huge sidepipes could bring any date to a blistering end. And don't even think of saying, “But I did warn you.” Correctly priced at low book. #1232-1970 CHEVROLET CORVETTE convertible. S/N 194670S411756. White/ white vinyl/black vinyl. Odo: 6,959 miles. 454-ci 390-hp V8, 4-bbl, auto. Original Top Flight car with both tops and every available option. Automatic, ps, pb, tilt/telescopic column, pw, a/c, rear defroster. Complete history from day one includes window sticker, work order, Protect-O-Plate, tank sticker, and judging sheets. Documented by Al Grenning. Typical of original in condition and details. Cond: 1-. SOLD AT $49,500. The only strikes here might have been the automatic transmission instead of a 4-speed and a non-sexy color. 44 Corvette Market WINTER 2009 www.vettemarket.com #396.1-1989 CHEVROLET CORVETTE ZR-1 Snake Skinner coupe. S/N 1G1YZ21J0K580081. White/black cloth. Odo: 44,036 miles. 350ci 475-hp fuel-injected V8, 6-sp. Numerous cracks in body panels and rear bumper. No hood prop for wavy lightweight hood. Special GS-C high-output Mercury Marine LT5 black engine, worn Goodyear ZR tires. Lift-off rear window with Dzus fasteners. Pre-production number 81 of 83. A special exercise in “How light can we build it?” From the GM Collection, sold on a scrap title. Cond: 3+. SOLD AT $176,000. A lightweight Corvette with non-functional headlights and other special pre-production ZR-1 Best Buy #97-1989 CHEVROLET CORVETTE ZR-2 convertible. S/N EX5028. Hugger Orange/black cloth & orange hard top/black leather. 454-ci 500-hp fuel-injected V8, 6-sp. The only big-block C4, brainchild of engineer John Heinricy. Very good paint and unmarked interior, unique hood to clear fuel injection runners of big #1218-1989 CHEVROLET CORVETTE DR-1 convertible. S/N 1G1YY31J8K5100026. Light Blue Metallic/black cloth & blue hard top/black leather. 350-ci 375-hp fuel-injected V8, 6-sp. A GM Heritage car, and the only ZR-1 convertible built. As-new with hard top and negligible engine. Sold on a bill of sale. Cond: 1. SOLD AT $71,500. Perhaps the buy of the whole auction. There'll never be another one of these and several collectors were kicking themselves for not noticing when it was to be sold on Tuesday. As one said, “It'll cost me $100,000 more next time, but I'll probably buy it anyway.” The EX VIN will present a problem for registration, as if this is going to be driven anywhere. TOP 10 #8 #82-1990 CHEVROLET CORVETTE ZR-1 Active Suspension Prototype coupe. S/N EX5881. Black/black leather. Odo: 730 miles.


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Market Report Barrett-Jackson Scottsdale, AZ leather. RHD. Odo: 7,684 miles. 350-ci 240-hp fuel-injected V8, auto. GM concept right-handdrive study for export to the U.K, Japan, or Australia. Pulled from the line, driven sparingly, and stored until now. Large black side mirrors fitted. From the GM Heritage Fleet, sold on a scrap title. Cond: 2. SOLD AT $27,500. Sold well over market for a standard '90 Corvette, but it would make a great low-miles driver for someone from across the pond... if they can get past the scrap title. 350-ci 375-hp fuel-injected V8, 6-sp. “Active Suspension” prototype. No hood lift rod, lots of extra underhood plumbing. Special factory trim, some visible age and wear issues. Overall looks like 730-miles car. Cond: 2. SOLD AT $150,700. Special 6-digit VIN. A GM Collection test bed for their active suspension technology. Fitted with rare components and screams pre-production everywhere... and you'd better make friends with the GM engineers who built it, as fixing it could be tricky. Sold on bill of sale. #1332.1-1990 CHEVROLET CORVETTE ZR-1 coupe. S/N 1G15Z23J8L5801672. Dark red/tan leather. Odo: 310 miles. 350-ci 375-hp fuel-injected V8, 6-sp. As-new, bought by little old lady and parked with 310 miles on it. Sold as pair with lot 1332, a yellow 2009 ZR1, to large star cracks in rear glass. No centercaps on wheels. Terrible interior with worn seats, most trim pieces missing, loose wires and crude test instrument brackets bolted to dash. Lift-off hood, sign under wiper says “TOW.” Cond: 5. SOLD AT $41,800. One of 14 prototypes of the C5 Corvette. This duct tape Corvette special was a real rag, but it still quickened my heartbeat a bit. Rode hard and never put away, but rare nonetheless. Well sold on a bill of sale only. somebody with a lot of garage space. Cond: 1-. SOLD AT $101,750. The ZR-1 story has followed the same ghastly path as the 1976 “last” Cadillac Eldorado convertibles. It's hard to find one that does have a lot of miles on it... there are just a lot of owners waiting for The Messiah. This was a decent deal, as the buyer got two cars for the price of one. #1356-1990 CHEVROLET CORVETTE coupe. S/N 1G1YY238315111778. Red/black the catalog. Also sold with an “EX” in the VIN for experimental. Rumor has it that there may be internal parts missing on this unit, so think twice about adding seats and going for a spin. 46 Corvette Market WINTER 2009 www.vettemarket.com Three-year/36,000-mile warranty. As-new. Cond: 1. SOLD AT $104,500. Handsome and scary. When you live in Nevada and a 505-hp Z06 isn't fast enough for you, you have options. Why not enter the Silver State Classic and try and break Chuck Shafer and Gary Bockman's 207.78 mph record for the 90-mile, 25-minute race? Pure madness and rather well bought, as this model cost $140,000-plus and 2008 was the last year. ■ #1301.1-1998 CHEVROLET CORVETTE C5 Display Chassis. S/N 1G1YY22G2V50009EX. Aluminum. GM Corvette display chassis for the C5 shows the chassis and engine layout with no body parts. Includes platform with stainless etched plate drawings of floor and body attachments. Cond: 1. SOLD AT $35,200. The “V” in the VIN would make this a 1997 rather than 1998 as in C5 #470.1-1997 CHEVROLET CORVETTE Alpha Build coupe. S/N 1G1YY21U5VX1053EX. Black/black leather. Odo: 4,865 miles. 5.7-liter 345-hp fuel-injected V8, 6-sp. Pre-production with “EX” on the visible VIN. Gelcoat finish with large pin holes, chips, and scratches everywhere. Pop-riveted disguise panels and drilled holes all over body, Of course, if you want to do that, you can buy a complete car for less than this bid. #1536-2004 CHEVROLET CORVETTE Z06 coupe. S/N 1G1YY12S245117936. Silver/black leather. Odo: 35,300 miles. 5.7-liter 405-hp fuel-injected LS6 V8, 6-sp. Features Head Up display, memory package, two remotes, window sticker, and all books and manuals. Protective dashpad, driver's power seat, dual climate control, Delco-Bose stereo. Lovely silver paint with one chip on driver's bump strip. Very nice interior. Cond: 1-. SOLD AT $30,800. Immaculate car and hard to fault—the way you'd want to find one. This price was $2,000 below low book, and it was a steal if you plan to drive it. C5s are a long way from making you any money, so just hit the road. It's what they do best anyway. C6 #1320-2008 CHEVROLET CORVETTE coupe. S/N 1G1YY26W285103020. Red/ black leather. 427-ci 750-hp turbocharged V8, 6-sp. Lingenfelter Commemorative Edition C6. Z51 package, Lingenfelter brakes, Corsa 304 stainless exhaust, 3-piece mags, heavy-duty clutch. Custom hood and front and rear spoilers. One of 25 total, one of twelve made in 2008.


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Market Report Russo and Steele Scottsdale, AZ 9th Annual Scottsdale Collector Car Auction Russo's volume was up significantly, and nobody is going to look down on a 44% sell-through rate in this economy Company Russo and Steele Date January 15–18, 2009 Location Scottsdale, Arizona Auctioneers Jim Landis, Dennis Wisbey & Rob Row Overall auction results 262 cars offered / 597 cars sold Total sales rate 44% Sales total $17,527,120 Corvettes sold 23 Corvette sales total $1,568,900 Corvette high sale 1967 427/435 convertible, sold at $121,000 Atmosphere is the name of the game at Russo Report and photos by B. Mitchell Carlson Market opinions in italics R usso was one of the few auction houses in Arizona this year that seemed to be holding its own. Certainly the overall take was down by over a million dollars ($17.5m this year vs. $19.1m in 2008), but the ratio of decline was far less than most of the other auction companies hosting events in the area. There have been many changes throughout Russo's nine year history of Scottsdale auctions—most recently with the new all-reserve format launched in 2008—but overall, it looks like this event is dialed in. The consensus among most folks was that this year's mix of cars was of a higher caliber than last year, and a variety of Corvettes were available in various conditions. This year's highest selling Corvette was a 1967 427/435 convertible at $121,000, followed closely by a 1968 427/435 L89 convertible at $117,700 and a 1965 396/425 convertible at $114,400. These three were the only Corvettes to break the $100k level, while the remainder of the 23 sold were solidly within the five-figure level. One of the most interesting Corvettes of the weekend was a mostly original 1962 327/360 fuelie with just 32,000 miles. It had been originally owned by an Anaheim native, who occasionally took it to Bill Thomas's nearby shop for maintenance and performance tweaking. With complete documentation, it sold at $98,450. Several very good buys were also made, includ- 48 Corvette Market WINTER 2009 www.vettemarket.com Russo and Steele Corvette Sales Total $3m $2.5m $2m $1.5m $1m $500k 2009 2008 2007 2006 2005 2004 2003 ing a 1990 ZR-1 that was basically new, with only 5,200 miles. It made $26,400 and could be quite successful if it goes to Bloomington for certification. The highest seller of the weekend wasn't a Corvette or even a muscle car; it was the ex-J.B. Nethercutt 1955 Mercedes-Benz 300SL, going to a new home for an eye-opening $660,000. Next up was a 1964 Cobra 289, a decent restoration that did $495,000. Hemis definitely marked their territory, with the next highest sale being Nicolas Cage's 1970 Dodge Challenger, going to a non-celebrity owner for a 50% celebrity surcharge over the market at $440,000. The buzz in the room was that consignors were nervous about putting their cars in a no-reserve auction, hence the larger number of big-dollar, blue-chip collectibles that showed up here. Russo's volume was up significantly from last year's 490 consignments. They put 597 cars across the block during the four days, with 225 declared sold on the block, and another 37 having deals put together postblock for 262 sales. In today's economic environment, no one is going to look down on a 44% sell-through rate, and with its characteristic style and flair, Russo and Steele continued to show it has a presence ingrained deeply enough in the Arizona auction scene to be a force to be reckoned with. ■ Buyer's premium 10%, included in sold prices


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Market Report C1 #F483-1954 CHEVROLET CORVETTE roadster. S/N E54S001808. Pennant Blue/ beige cloth/beige vinyl. Odo: 68,396 miles. 235-ci 155-hp straight 6, 3x1-bbl, auto. Purchased in 2007 from the second owner's estate. Cosmetically restored on-the-frame in 2001, eight-year-old repaint and replating still look fresh. No worse than original door and panel fit and gaps. Once moderately well detailed motor now has some light surface rust Russo and Steele Scottsdale, AZ ration unwinding made this correctly priced at the lower end of market for condition. #S723-1957 CHEVROLET CORVETTE convertible. S/N E57S102468. Arctic Blue & silver/blue vinyl & hard top/red vinyl. Odo: 48,275 miles. 283-ci 283-hp fuel-injected V8, 3-sp. Factory options include two tops and Wonderbar radio. High quality bodywork, equally high quality repaint, hard top looks slightly lighter. Door and panel gaps slightly incongruent but no worse than factory. Show quality bumper replating and reproduction side trim, door tops and windshield frame are original and moderately dinged up. Koni shocks in 1965). There was very heavy interest in this car on the auction block, and it went three bids past the $88k reserve without much trouble. Being a fan of originality over restoration, this was my favorite Corvette of the weekend. Bought well, if just for the provenance and originality. C2 #F538-1963 CHEVROLET CORVETTE coupe. S/N 30837S103244. Daytona Blue/ blue vinyl. Odo: 69,630 miles. 327-ci 360-hp fuel-injected V8, 4-sp. Optioned with pw and signal-seeking AM radio. Older bodywork and paint with some light rippling at roof pillars. Door and panel fit decent but not better than stock. Windshield and door post trim show quite a few dings, older replated bumpers OK. Engine bay detailing starting to get dingy and and oxidizing of radiator hoses. Interior soft trim has light wear but is still very presentable. Dashboard repaint looks to have been done with a roller. Cond: 3+. SOLD AT $63,800. Last seen at McCormick's Palm Springs auction in February '08, where it failed to sell at $66,000 (CM# 89935). The bidding started at $30k, and it took a while to get to $58k, when the reserve was lifted. Maybe I'm somewhat biased because I like Pennant Blue the best of all the '54 colors, but as this would be pretty easy to fluff up, I feel it was a decent buy. #TH275-1957 CHEVROLET CORVETTE convertible. S/N E57S100815. Red & white/ white vinyl/red vinyl. Odo: 1 miles. 283-ci 270-hp V8, 2x4-bbl, 4-sp. Fitted with later production engine and even later transmission. Fully restored with high quality body prep work, replated bumpers, professionally polished trim, and reproduction emblems. Panel fit better than stock, but not perfect. Well detailed and authentically restored engine compartment starting to show light soiling from Clean and well detailed engine bay, with clean bright paint but dull aluminum. Fresh interior vinyl shows no perceivable wear. Cond: 2. SOLD AT $82,500. One of 258 1957s in Arctic Blue with silver coves, and one of 713 high-horse fuelies. While it looks pretty nice on the outside, the chassis would need some work completed before one would start to consider showing it. Actually, it could stand a good weekend-plus of fluffing to really make it pop all over. Or just keep driving it. At least it wasn't a 4-speed car that really wasn't. Market pricing for 2009. Best Buy #F540-1962 CHEVROLET CORVETTE convertible. S/N 20867S105350. Ermine White/black vinyl & white hard top/black vinyl. Odo: 32,887 miles. 327-ci 360-hp fuel-injected V8, 4-sp. All documentation from new. Options include both tops, 4.11 Posi, Wonderbar radio, and Special Crankcase Ventilation. Mostly original, achieved NCRS Second Flight with 89.5 points without even a car wash. Typical body waviness, good panel fit, paint with light polishing scratches and a few touch-ups. Good original brightwork. Recently fluffed-up engine dusty. Older replacement seat upholstery kit with some moderate wear, vinyl in door top corners staring to lift and curl. Cond: 3. SOLD AT $85,800. This car did have the full complement of original documentation—including original window sticker, owner's manual, and warranty booklet—but as Drew so succinctly explained while it was on the block, “some dirtbag stole the original documentation out of the car.” This may have been a defining factor on the seller deciding to move the car out, as he released the reserve after it hit $76k. limited use. Fully restored interior shows only light wear on driver's side carpeting. Top like new. Cond: 2. SOLD AT $63,800. The 4-speed became available from the factory on April 9, generally around serial number E57S103500. The odometer was also noted as having been recently restored, as there was more than one mile of use, as well as a list of shows it had attended since the work had been finished. The commonly encountered incorrect white instead of light beige cove paint and some light resto- 50 Corvette Market WINTER 2009 www.vettemarket.com 194675S122212. Rally Red/white vinyl & red hard top/white vinyl. Odo: 49,190 miles. 396-ci 425-hp V8, 4-bbl, 4-sp. Both tops, sidepipes, telescopic column, wood rimmed wheel, AM/FM radio, and knockoffs. NCRS Top Flight and VetteFest Gold Spinner awards. Slightly muted body character lines, good quality repaint with no nicks or scratches. Rechromed bumpers slightly rippled, just like when new. Replacement emblems and trim, fresh top correctly installed with only light rippling. TOP 10 #10 bay, rear axle retains original inspection paint markings. Light seat and carpet wear, original shift knob yellowing. Cond: 2-. SOLD AT $98,450. Since the original owner (who was a founding member of Corvettes of So. Cal.) lived in Anaheim, he took it to the nearby shop of Bill Thomas for maintenance, tuning, and the occasional performance part (such as a set of #S683-1965 CORVETTE CHEVROLET convertible. S/N


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Market Report Russo and Steele Scottsdale, AZ Concours engine bay authentic down to engine overspray. Reproduction interior shows no wear or soiling. Cond: 1. SOLD AT $114,400. It took a little while on the block, but this trophy magnet did manage to find a new home when the consignor dropped the reserve after bidding died down. It would be hard to upgrade from this one, unless you can find another real red convertible with the addition of ps, pb, and pw that's a Duntov Award winner. #S739-1965 CHEVROLET CORVETTE coupe. S/N 194375S118363. Red/red leather. Odo: 67,868 miles. 396-ci 425-hp V8, 4-bbl, 4-sp. Factory options include sidepipes, telescopic column, teak wheel, AM/FM radio, and knockoffs. Good older repaint with some light bonding strip broadcasting on nose and sides. Average bumper replating, mix of good original and reproduction brightwork. Good door and all the smog parts still with it is quite a trick, as most folks pulled all of that “smog crap” off so their cars would run better. Or that was their story. However, in locales like California, where they actually enforce these things, you'd have a better chance of finding a complete car, and if they didn't mess with the smog gear, they probably didn't mess with anything else, either. Not a bargain, but bought well. C3 #TH326-1969 CHEVROLET CORVETTE ZL1 Replica coupe. S/N 194379S702813. White & black/black leather. Odo: 41,027 miles. 427-ci 430-hp V8, 4-bbl, 4-sp. Built up from a standard Corvette with claimed all N.O.S. parts, including 1969 ZL1 motor number 51 and an M22 4-speed. Good body prep and paint application, slightly dull bumper chrome and trim. Better than stock door and panel fit, extremely accurate replica ZL1 engine bay lackluster. Well preserved original interior with light wear and soiling, mostly on the driver's seat. Door panels look newer. Cond: 3+. SOLD AT $17,600. This was the start of the era that pretty much made the Corvette nothing more than a two-seat Malibu. Then again, folks are starting to collect “higher performance” and even bone-lazy Malibus of this era, so this car did as well as could be expected. #SN858-1978 CHEVROLET CORVETTE Indy Pace Car 1Z87L8S901015. Silver, black, & red/silver leather. Odo: 86,270 miles. Edition coupe. S/N 350-ci 220-hp V8, 4-bbl, auto. California market L82 with three owners since new. Gloss to original paint quite good at ten feet, many cracks and buffing marks up close. Some red tape stripes starting to lift. Washed off engine bay, dead bird stuck in right side of cowl behind right windshield panel gaps, older engine bay detailing. Older reproduction door panels, seats, carpeting, and dashpad. Light to moderate wear and soiling on the drivers' side floor board carpet, minimal seat wear. Cond: 3+. SOLD AT $57,200. There wasn't really that much wrong with this car that some heavy detailing couldn't fix. Thanks to a declining market, the reserve was lifted when the bidding ended. Even at that, this was bought quite well. #S674-1966 CHEVROLET CORVETTE coupe. S/N 194376S124487. Silver Pearl/silver vinyl. Odo: 56,261 miles. 427-ci 390-hp V8, 4-bbl, 4-sp. Original California car with all emissions equipment intact. Also fitted with a/c, tinted glass, ps, sidepipes, teak wheel, AM/FM radio, and knockoff alloy wheels. “Recently refreshed” inside and out. Crisp body character lines under high quality trim-off repaint, better-than-original door fit and panel gaps. Authentically detailed stock engine bay, all new interior soft trim was expertly installed and shows no wear. Cond: 2+. SOLD AT $81,400. Finding any '60s car with complete with air pump and all California emissions equipment. All fresh reproduction interior soft trim expertly installed. Cond: 2. NOT SOLD AT $59,000. This is one of the few times I'll actually use the word “clone” to describe a car—although the consignors were consistent on the use of “tribute,” since it is almost an exact copy of the white ZL1 (the only other known ZL1 is yellow). Once again, these sorts of things are worth the sum of their parts, and it seems to be about $60k worth of parts here, the bulk of which is the real ZL1 motor. #S616-1973 CHEVROLET CORVETTE convertible. S/N 1Z67J3S420589. White/white vinyl & hard top/tan vinyl. Odo: 66,574 miles. 350-ci 185-hp V8, 4-bbl, auto. Fitted with two tops, ps, pb, a/c, tilt/telescopic column, pw, and luggage rack. Mostly original paint with typical light orange peel, door edges chipped. Original chrome and trim presentable but not perfect. Engine not long ago, balance of engine compartment wiper arm. Seat upholstery most likely a high quality replacement, as it is not worn or discolored as much as steering wheel rim. Door panels and carpet show more typical wear, but are still in pretty good condition. Cond: 3. SOLD AT $11,000. Across the block, the reserve was lifted at $10k, and it took an additional bid to get the car sold. With 1978 IPCs gaining ground in the market over the last few years, I'll say this was bought well despite its condition. Due mostly to the door cracks and the mileage, I don't think it would be too much of a sin to repaint the black sections, especially since the refurbishment path has already been blazed by the seats. #F418-1982 CHEVROLET CORVETTE Collector 1G1AY0783C5110582. Silver leather. Odo: 4,900 miles. 350-ci Edition coupe. S/N Beige/silver 220-hp repainted and moderately detailed fuel-injected V8, auto. Factory options include heavy duty cooling package, power seats, power door locks, cruise control, and AM/FM/cassette stereo. NCRS Top Flight, NCRS Duntov award, and Bloomington Gold certified. Mileage claimed correct. Very good original paint, some light nicks on the nose, all seals soft and pliable. Well detailed engine bay. Seats have light wrinkling and wear on 52 Corvette Market WINTER 2009 www.vettemarket.com


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outside bolsters, but usually problematic silver leather dye is holding up well. Cond: 2. SOLD AT $33,000. Last seen at RM's Phoenix sale in January '03, where it sold at $32,450 (CM# 30241). The reserve was lifted at $28k—and for good reason. Even with Bloomington Gold and NCRS provenance, this still rang the bell pretty hard as a 1982. On the other hand, 1982s have been really seeing some increases in selling prices over the last two years. The Collector Edition cars are leading the pack, since quite a few were pickled when new. All in all, not a bad deal for the consignor. C4 #TH222-1988 CHEVROLET CORVETTE Callaway Twin Turbo convertible. S/N 1G1YY3183J5102455. Red/black cloth/black leather. Odo: 2,302 miles. 350-ci 382-hp twinturbocharged V8, 4+3 manual. One-owner car since new, documentation includes Callaway owner's manual and notebook presentation set. Excellent original paint has been cleaned, buffed, and polished to better than new. Callaway 5-spoke alloy wheels nice, top fit like pay any additional dealer markup, and it sold here for $26,400. Pretty lousy for an investment, and it proves once again that “instant collectibles” are only money makers for those who build them. This will be a shoo-in for not only a Bloomington Gold car when it becomes eligible, but also as a Benchmark. No matter what the new owner does at this point, this was still bought well. C5 Avelate #TH355-1999 CHEVROLET CORVETTE Custom convertible. S/N 1G1YY32G0X5119647. Candy Tangerine Pearl/white vinyl/black & orange leather. Odo: 84,961 km. 5.7-liter 345-hp fuel-injected LS1 V8, auto. Sold new in Quebec, with speedometer segmented to 300 and default mileage in kilometers. Repatriated a year later via the state of Washington. Converted into one of three Avelates, which integrated the styling of the 1953–1955 Corvette. Show-quality custom paintwork carried over to interior center console. Good chrome on custom fabricated trim. Custom leather seats, console cover, and door panels. Cond: 2-. NOT SOLD AT $60,000. Another variation of the retro look on a modern car, and it actually came off fairly well. Half as well fabricated as the CRC 1962 C5, design elements integrated half as well, and bid to half a CRC's base price. If you really need to put a custom body on your Corvette, you need to drive more pedestrian vehicles more often to appreciate what you already have... but who am I to make the call on pissing one's money away on borderline gaudiness? ■ new, without any wrinkling or creases. Engine bay slightly dusty from long-term storage. Interior shows light wear on door sill carpeting, steering wheel rim, and light wrinkling on driver's seat bottom. A well preserved example. Cond: 2+. SOLD AT $34,650. The soft top was made in fewer numbers than the coupes, making this one of the most desirable Callaways out there. A market-correct price considering this one's condition and rarity. Best Buy #TH218-1990 CHEVROLET CORVETTE ZR-1 coupe. S/N 1G1YZ23J8L5800893. Black/gray leather. Odo: 5,264 miles. 350-ci 375-hp fuel-injected V8, 6-sp. Originally sold through Mark Chevrolet of Wayne, MI, with both roof panels and electronic climate control as the only two options in addition to the ZR-1 package. Claimed original mileage. Exceptionally well maintained and cared for, with only the lightest signs of use. Two light nicks in nose paint, light carpet wear on the driver's side door sill, faint wrinkling of the driver's seat. Paint regularly cleaned and polished to the point of having a better gloss than when new. Cond: 1-. SOLD AT $26,400. Let's see... It was $60,590 out the door in 1990, provided the owner didn't have to www.vettemarket.com WINTER 2009 Corvette Market 53


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Market Report Mecum Auctions Kissimmee, FL 2009 Kissimmee High Performance Auction Overall, cars that found new owners did so at a fair exchange, provided you studied your 2009 price guide—not last year's copy Company Mecum Auctions Date January 22–24, 2009 Location Kissimmee, Florida Auctioneers Mike Hagerman, Mark Delzell & Bobby Delzell Overall auction results 437 cars offered / 753 cars sold Total sales rate 58% Sales total $16,419,172 Corvettes sold / offered 86/153 Corvette sales total $4,899,935 Corvette high sale $16.4m total and $5m of that from Corvettes Report and photos by Dale Novak Market opinions in italics A s I traveled to the Mecum Kissimmee auction held from January 22–24, 2009, at Osceola Heritage Park, I passed building after closed building on the streets of Kissimmee, as well as numerous “going out of business” signs. Kissimmee is an active tourist destination that draws on millions of people flocking to Walt Disney World, but it was clear that the same economic issues being felt throughout the nation had found their way here, and just what that meant for the sale remained to be seen. How many bidders would sit on their hands unless the car was a flat-out steal? How many active buyers would even be present? The crowds were fairly light and the sale a bit slow on Thursday, but the event changed pace later on, building up to a brisk pace on both Friday and Saturday. The “Chamber of Commerce” Florida weather certainly helped Dana Mecum to set a sunny mood, but even though energy was upbeat throughout the weekend, it seemed that most bidders were generally more cautious with their money than they had been in years past. Nevertheless, the top sale of the event was Mecum Kissimmee Corvette Sales Total the heavily advertised 1963 Gulf One Z06 race car, which sold over the phone at $1,113,000. Dr. Dick Thompson, also known as “The Flying Dentist,” was at the sale and presented the car as it crossed the auction block, noting that if it had looked this good when he had raced it, he might have been able to go just a bit faster. The second highest sale of the weekend went to a 1969 COPO L88 convertible racer, complete with its vintage racing certificates and log books, which sold at $323,300. Other notables included an unrestored, orig- 54 Corvette Market WINTER 2009 www.vettemarket.com $8m $7m $6m $5m $4m $3m $2m $1m 2009 2008 2007 2006 2005 2004 2003 inal-owner 1957 283/283 fuelie convertible that sold at an impressive $265,000, another '57 283/283 with Bloomington Gold certification and a numbers-matching engine that found new ownership at $108,650, a 1962 327/340 convertible wearing an older restoration that brought $71,020, and a 1964 Mako Shark replica that changed hands at $37,100. All in all, the event progressed without a hitch, and the Mecum team moved things along in their typical friendly, professional way. Cars that found new owners did so at a fair exchange, provided you had studied your 2009 price guide—not last year's copy. Sellers who expect Rip Van Winkle to suddenly wake up and buy their cars at 2007 prices should make sure their tow vehicles are fueled for the trip home. Despite a gloomy economy, auction attendance was reportedly up 51% over 2008, and Mecum posted a 58% overall sell-through rate this year, with 437 of 753 cars finding new homes for a final total of $16,419,172—up from last year's $15,090,107. For the Corvettes, 86 of 153 sold, compared with 100 of 156 last year, but the final Corvette total rose from $4,507,697 in 2008 to $4,899,935 this year. Even though buyers are being much more cautious about what they're buying, it's clear that good cars are still bringing good prices. ■ 1963 Corvette Z06 “Gulf One” Race Car, sold at $1,113,000 Buyer's premium $300 up to $5,499, $500 from $5,500 to $9,999, 6% thereafter, included in sold prices


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Market Report C1 #S123-1954 CHEVROLET CORVETTE roadster. S/N E54S001926. Polo White/tan canvas/red vinyl. Odo: 76,572 miles. 235-ci 150-hp straight 6, 3x1-bbl, auto. Non-original engine noted. Both doors out at bottom, trunk high at rear deck. Typically variable Corvette body, nice paint with some flaws, some stress cracks found in typical areas. Headlamp bezels Mecum Auctions Kissimmee, FL paint, and I noted plenty of people commenting on it and questioning the quality of the work. That being said, the balance of the car was excellent. Spot on the money for this condition, minus the paint. My guess is that it will be headed to a new home and visiting the paint booth very soon. TOP 10 #4 #S138-1957 CORVETTE 18,660 miles. CHEVROLET convertible. S/N E57S106050. Silver/red vinyl. Odo: 283-ci 283-hp fuel-injected V8, 4-sp. Original and numbers-matching. Both doors out at bottom, typical body issues throughout. Totally unrestored, but some minor paintwork noted. Paint rather dull but in exceptional condition given the age and originality. Hard top plexiglas with a few cracks, interior is somewhat wavy, some small dents found on chrome body spears. Interior shows some pitting on chrome items. Incorrect tach noted. Cond: 3+. SOLD AT $68,370. I spoke with the consignor of this Corvette and confirmed my suspicions that the car had formerly been red. Originally this car had been Inca Silver, then changed to red, and now black. Bits of red paint could be found in small areas here and there, and some of the red overspray was noted on the convertible top frame. This was a decent '58, and although the price was right for its condition, I'd call it slightly well sold. #S94-1962 CHEVROLET CORVETTE convertible. S/N 20867S105228. Fawn Beige/white vinyl/beige vinyl. Odo: 28,062 miles. 327-ci 340-hp V8, 4-bbl, 4-sp. Numbers claimed to match, older frame-off restoration with no mention of how long ago that took place. Both doors out at bottom, typical Corvette body presents well. Hard top is in heavily pitted, windshield frame in nice condition. Steering wheel cracked, new seats fitted, dash paint is somewhat flat. Clean engine bay but not detailed. Cond: 3+. SOLD AT $84,800. It's not all that uncommon to see early C1s like this one— not super fresh, but not totally beat to death either. A nice Sunday driver or cruisein participant. If you wanted a '54 to drive and enjoy, this was the one. A market-correct price for condition and N.O.M. power. Both buyer and seller should go home happy. #S98-1957 CHEVROLET CORVETTE convertible. S/N E57S103045. Black/black vinyl/red vinyl. Odo: 592 miles. 283-ci 283hp fuel-injected V8, 4-sp. Claimed to be Bloomington Gold certified with the original numbers-matching engine. 550 miles since restoration. Both doors out at bottom, passenger's door gap wide at fender. Paint micro-blistering heavily in most areas, especially at cowl. Generous scratches and swirl marks present. Chrome very nice but showing age, interior looks very good and is extraordinarily well preserved with only light fading. Factory stickers still holding on for dear life underhood. A marvelous example. Cond: 3-. SOLD AT $265,000. You simply can't put a number on this type of historical preservation. Brought to the auction by the original owner, this car had been extremely well cared for since 1957. It was simply superb in every sense of the word. This was the Corvette to buy, and it cost the new owner $265,000 for the bragging rights. Finding another like it just might be impossible, so even at this price, I'd call it well bought. #F143-1958 CHEVROLET CORVETTE convertible. S/N J58S107025. Black & silver/ red vinyl. Odo: 63,251 miles. 283-ci 270-hp V8, 2x4-bbl, 4-sp. Numbers claimed to match. Trunk pinched at rear, no other gap issues noted. Very nice paint with some small indications that the car may have been red at one time. Most chrome nice, some pitting noted on windshield surround. Rechromed rear bumper excellent shape, chrome and trim quality varies from very nice to driver level. Nice engine bay is not totally correct. Lightweight aluminum fan fitted. Cond: 2-. SOLD AT $71,020. An excellent above-average driver that you could use and enjoy. There was nothing to fret over with regard to the overall quality of the restoration work. This was obviously well cared for and was in a rarely seen color combination, so I'd call this a fair deal for both buyer and seller. #S105-1962 CHEVROLET CORVETTE convertible. S/N 20867S109619. Honduras Maroon/black vinyl/black vinyl. Odo: 49 miles. 327-ci 340-hp V8, 4-bbl, 4-sp. Numbers claimed to be matching. Driver's and passenger's door out at bottom. Nicer-than-stock body, excellent paint does show light polishing marks presents well and still remains tight and crisp. Engine bay is show quality. Would be an easy 2+ with the proper paint work. Cond: 3+. SOLD AT $108,650. One has to wonder what happened to the paint on this freshly restored example. The micro-blisters were heavy in areas and stood out, especially with the black 56 Corvette Market WINTER 2009 www.vettemarket.com


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Market Report Mecum Auctions Kissimmee, FL and scratches. Chrome and trim very nice but not to show standards, with some scratching noted. Beautiful interior just sparkles, which is tough to pull off with black. Very clean engine bay. $65,000 noted in restoration expenses. Cond: 2+. SOLD AT $66,250. Although classy, Honduras Maroon is a love-it or hate-it color in my opinion. It seems to me that the Chevrolet designers thought they wanted something in between red and black, so we have Honduras Maroon. In any event, this was an excellent Corvette with an original numbers-matching drivetrain and a full restoration. My guess, and it's just a guess, is that the color held the number back here. Well bought. #S124-1962 CHEVROLET CORVETTE convertible. S/N 20867S113696. Red/red vinyl. Odo: 51,715 miles. 327-ci 250-hp V8, 4-bbl, 4-sp. Numbers claimed to match. Rear convertible boot panel pinched at driver's side rear, passenger's door in at fender. Other panel fit good. Some small stress cracks noted in body, paint is very nice and only showing minor prep issues and some small touch-ups. Nicely polished chrome and trim with some very nicely done but not over the top. The exhaust note is simply superb. Cond: 2+. SOLD AT $1,113,000. This is the actual campaigned Z06 driven by Dr. Dick Thompson, AKA the Flying Dentist. Dr. Thompson presented the car while it was up on the block, and he stated that it was “in much better condition than when I drove it, and had it looked like it does today, I would have been able to drive it even faster.” A pure piece of history. Expensive? I don't think so for such a historical piece. I'd call this well bought. See profile, p. 24. Mako #T166-1964 CHEVROLET CORVETTE Shark Replica convertible. S/N 40867S112203. Blue/dark blue vinyl. Odo: 2,410 miles. 350-ci V8, 4-bbl, auto. Very nice panel fit, total custom front nose with no headlamp buckets to pick on. Very nice custom paintwork with few needs noted, but not show quality. Chrome and brightwork nice but slightly scratched and show polishing marks. Interior is all there and in good overall condition, but scratches throughout, driver quality engine bay could use a good detailing. A very good driver. Cond: 3. SOLD AT $48,760. This was the base model power for the year and not all that potent at only 250 horses. That said, this was a very nice driver that needed very little to be taken up a notch. The engine bay could be tinkered with for a couple of weekends to improve the presentation, and the interior was certainly not abused. I'd call this a fair deal for both buyer and seller, with the advantage to the buyer. C2 TOP 10 #1 #S110-1963 CHEVROLET CORVETTE Z06 Yenko Gulf One coupe. S/N 30837S102227. White & blue/black vinyl. Odo: 4,173 miles. 327-ci 360-hp fuel-injected V8, 4-sp. One of 14 factory Z06 performance cars built specifically for competition. Outstanding gaps, better-than-factory build, very nice paint showing only minor polishing marks and light scratches. Paint is just right and not too glossy, limited chrome excellent. Period race tires. Interior restoration 58 Corvette Market WINTER 2009 www.vettemarket.com plenty of use. Non-original motor. Paint and body is driver grade and presents as nothing more than that. Interior looks good and is complete, with light scratches in glove box door, faded carpet, and flat seat padding. Cond: 4+. NOT SOLD AT $35,000. As a well-used driver there was nothing to fret about, but up close this example would gnaw away at you in short order. The body gaps seemed good overall, but there was just not much about this mid-year to fall in love with. That being said, it was a great color combination to work with and was equipped with a 365-hp powerplant, although not the original engine. This was close to the right money for this condition, and it probably should have sold. #S107-1966 CHEVROLET CORVETTE convertible. S/N 194676S127220. Red/black vinyl. Odo: 3,070 miles. 427-ci 390-hp V8, 4-bbl, 4-sp. An original big-block Corvette with under 3,100 miles. Driver's door in at bottom, convertible top boot wide at back on passenger's side, headlamp fit off from one side to the other. Non-original paint shows some minor masking issues. Fitted with Goldlines and knockoff wheels. Engine bay is again, not to show. Aftermarket shifter installed in factory console looks awkward. Cond: 3+. SOLD AT $37,100. Non-original engine, but that simply didn't apply here, as not much of the original car remained either. Claimed to be a knock-off of the original Mako Shark I and was built from a Franklin Mint model. As a funky conversation piece I'll give it an A+, and you won't find another like it. I wonder if a really thick gold chain comes with it. Beauty is in the eye of the beholder, and this was a fair deal all around if it's your cup of tea. #S191-1965 CHEVROLET CORVETTE convertible. S/N 194675S117504. Blue/white vinyl/white vinyl. Odo: 67,216 miles. 327-ci 365-hp V8, 4-bbl, 4-sp. Convertible top boot pinched at passenger side, passenger door in at bottom, hood fit slightly skewed. Engine bay seems to be dolled up for the sale but shows neat and tidy but could be better. Some pitting noted on vent window trim, interior nearly asnew. NCRS Top Flight award. Cond: 2. NOT SOLD AT $92,500. This car featured plenty of documentation, including the window sticker, and was fitted with sidepipes, so one has to wonder why it didn't sell at this price. It was in great shape, so I believe that something may have been amiss. Corvettes were in plentiful supply here at this sale, and other all-original cars found better money. My guess is the repaint gave bidders a cautionary pause.


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Market Report Mecum Auctions Kissimmee, FL #S114-1967 CHEVROLET CORVETTE convertible. S/N 194677S100606. White & black/black vinyl/black vinyl. Odo: 30,990 miles. 427-ci 390-hp V8, 4-bbl, 4-sp. Numbers claimed to be matching. Excellent gaps, typical body, paint excellent and showing only light swirl marks. Chrome and trim look very good but both show light scratching, stainless window trim is to show quality. Excellent engine #S109-1967 CHEVROLET CORVETTE convertible. S/N 194677S122549. Black/red leather. Odo: 53,819 miles. 327-ci 350-hp V8, 4-bbl, 4-sp. Numbers claimed to match. Both doors in at bottom, convertible top boot high at driver's rear. Older paint evident by rub marks in boot from hard top. Light sanding marks in work under the hood and some effort to revive the paint would have done wonders here and vastly improved the end result. In this market, this kind of money is all you're likely to see for a car like this. Berger #S113-1969 CHEVROLET CORVETTE convertible. S/N 194679S704294. Fathom Green/white vinyl/dark green vinyl. Odo: 45,532 miles. 427-ci 450-hp V8, 3x2-bbl, auto. Body shows typical Corvette fit issues, passenger's door out at bottom. Average paint is very nice but does show a uniform orange peel throughout, which is somewhat typical of the original finish. Nice engine bay noted to be a notch above driver, but not to show standards. Fitted with a vinyl-covered hard top. Very nice bay per factory and not over-restored, proper overspray noted on exhaust manifolds. Awarded Top Flight in 2008. Cond: 1-. NOT SOLD AT $101,000. This was an excellent presentation of a C2 big-block, and there was nothing to really pick on as seen in the low light of the main display area. That being said, this was a very nice Corvette with plenty of documentation, and it most likely deserved more. #F67-1967 CHEVROLET CORVETTE convertible. S/N 194677S116957. Red/white vinyl/black vinyl. Odo: 93,840 miles. 327-ci 350-hp V8, 4-bbl, 4-sp. Claimed to be a numbers-matching L79. Passenger's door low to fender, headlamp buckets squared off rather than slightly rounded. Typically inconsistent Corvette body, nice paint with some abrasions and masking issues. Chrome and trim finish, polishing marks show as well. Chrome looks nice but does show some light scratches and some pitting. Engine bay neat and tidy but not to show standards. Fitted with knockoffs and sidepipes. Cond: 2-. SOLD AT $59,890. This L79 Corvette came complete with the original engine and original window sticker. The nicely done restoration had aged a bit. Based on a few other lots at this sale that made the same money but were in lesser condition, I'd call this very well bought. C3 #T179-1969 CHEVROLET CORVETTE coupe. S/N 194379S719622. Blue/blue vinyl. Odo: 23,633 miles. 350-ci 300-hp V8, 4-bbl, auto. Reported to have had only two owners from new. Driver's door nearly pinched at rear edge, passenger's door very tight as well. Other gaps are good. Paint somewhat lifeless and showing some masking issues over typical Corvette body. All chrome and trim to driver quality and may be original and unrestored. Weathered engine bay with paint flaking (or blasted) off the interior with only minor needs noted. Reported to be one of only two Berger modified cars, which bumped the horsepower from about 400 to 450. Cond: 3+. NOT SOLD AT $105,000. This was most likely not a numbers-matching car, since nothing about that was mentioned on the car card. This is about two times the money for a run-of-the-mill big-block 1969 Corvette convertible, if there is such a thing. Too bad it's fitted with the slushbox, as it would be more fun with a 4-speed. A strong bid in the current market, and only time will tell if the seller was right to hang on to it. #S101-1969 CHEVROLET CORVETTE convertible. S/N 194679S7252265. Black/ black vinyl/black leather. Odo: 23,061 miles. 427-ci 435-hp V8, 3x2-bbl, auto. Non-original engine fitted. Restoration competed in January '09. Gaps good but seem wide around both doors, typical Corvette body, paint shows some rub marks and polishing swirls. Chrome and trim with dimples, polishing marks, and other minor blemishes. New seats installed, driver's show some light pitting, scratches, and dents. Interior shows wear and aging throughout, new seats have been installed. Engine bay needs additional detailing but is complete. Cond: 3-. NOT SOLD AT $57,000. I really adore L79 327s. They are mild mannered enough for around-town driving, they usually run fairly cool, and they're fun to drive in the twisties, with plenty of power on tap. This was a good overall example, and although this price was about market correct for condition, the owner obviously felt otherwise. 60 Corvette Market WINTER 2009 www.vettemarket.com block and plenty of rust on steel parts. Interior crisp and in very nice condition. Cond: 3. NOT SOLD AT $19,000. Too bad the rest of this car wasn't as nice as the interior. Last seen here at this same auction in January '08, where it changed hands for $29,925 (CM# 48878). Today that number fell to $19,000, which was not enough to get the deal done. A little


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Market Report Mecum Auctions Kissimmee, FL seat looks to be skewed. Carpet and door panels appear new. Documented with tank sticker. Cond: 2-. NOT SOLD AT $70,000. The smog equipment was still installed on the non original engine, as the builder tried to keep the car as authentic as possible during restoration. These are the big kahunas of Corvettes for the year, so a triple black 435-hp convertible is not too shabby. The consignor called the automatic “rare,” so I give him kudos for attempting to put a positive spin on it. This was all the money for this car at this time, and it should have been enough to get the deal done. CORVETTE COPO L88 convertible. S/N 194679S721688. Yellow & black/black vinyl. Odo: 126 miles. 427-ci 430-hp V8, 4-bbl, 4-sp. Genuine documented COPO L88. Passenger's door gaps wide, door sits out at bottom. Paint shows plenty of road rash, touch-ups, and other high-speed anomalies. Some stress cracks noted, but not bad considering a history of racing. Interior aged, engine bay TOP 10 #2 #S142-1969 CHEVROLET work completed just prior to this sale. Last seen at RM's Dallas sale in April '08, where it sold at $67,100 (CM# 116504). Here, the number remained largely unchanged, and the owner stayed with his car for the balance of the sale to try and find a suitable buyer. The bid was fair—perhaps even strong considering the car's condition, and it should have been enough. #S128-1971 CHEVROLET CORVETTE convertible. S/N 194671S1114999. Silver/ black vinyl. Odo: 21,994 miles. 454-ci 425-hp V8, 4-bbl, auto. A genuine LS6 export 'Vette with original miles. All gaps per factory, original paint shows plenty of chips, blemishes, and lots of poorly touched-up areas. Engine compartment looks original other than a few minor updates. Interior in very good shape and completely original, with some aging visible throughout. Some materials faded and lightly prepared for racing, so don't expect a factory look. Roll cage installed. One of one built, tank sticker confirms central office order. Cond: 3-. SOLD AT $323,300. Numerous vintage racing certificates and log books came with this former national Corvette museum display car. There was no mention of the engine being original, so one can assume that it was lost in the line of duty long ago. This race-ready Corvette just oozed cool, and the race history was full and documented. It was fully sorted and ready to roll, complete with road rash, so the buyer can enjoy a few more vintage events with no worries. The market has spoken at $323,300. #F159-1969 CHEVROLET CORVETTE coupe. S/N 194379S715425. Orange/black vinyl. Odo: 58,548 miles. 427-ci 435-hp V8, 3x2-bbl, 4-sp. No mention of original engine. Passenger's door in at quarter panel, T-top gap slightly off at rear, headlamp bucket sits a tad high on passenger's side. Typically inconsistent Corvette body, very nice paint does show some small touch-ups here and there. Engine bay comes across as very authentic and not over the top. Interior mostly clean but shows some age and use. Cond: 2. NOT SOLD AT $70,000. This looked to have had a lot of detail 62 Corvette Market WINTER 2009 www.vettemarket.com Mille Miglia Red/black vinyl. Odo: 69,769 miles. 454-ci 365-hp V8, 4-bbl, auto. Numbers claimed to match. Driver's door out at bottom, other gaps very nice. Slightly better than usual Corvette body, very nice paint only showing polishing swirls and some micro-blistering on cowl. Decent driver-grade interior looks good, engine bay appears unrestored and correct but for some rattle-can handiwork. Door panel on driver's side coming loose. Cond: 3-. SOLD AT $20,140. Last seen at Worldwide's Hilton Head sale in November '08, where it failed to sell at $35,000 (CM# 118637). It was last reported to have the original paint and interior, and if that was the case, it would have been smart to mention it on the car card, as it may have brought a better result. Only two miles had been covered since the last sale, and one has to wonder why... let's hope the previous owner didn't discover something egregious. For a red LS5 454 a/c car, I'd call this very well bought. #S1-1973 CHEVROLET CORVETTE coupe. S/N 1Z37Z3S421684. Orange/tan vinyl. Odo: 41,973 miles. 454-ci 275-hp V8, 4-bbl, auto. Numbers claimed to match. Passenger's door wide at fender, other gaps per factory. Good paint in nice condition but just to driver quality, with some small touch-ups noted. Decent interior showing age and use and just may be commensurate with miles noted. deteriorated. No need to get up close to see the flaws, you can stand back and take them all in. Cond: 4. NOT SOLD AT $142,500. This LS6 was thought to have once been owned by the king of Sweden, if that sort of thing floats your boat. It was also used as a model for the Franklin Mint. Totally unrestored and unmolested, and a great benchmark example for future restoration candidates. Plenty of documentation comes with the car in a threeinch thick binder. Unrestored original cars are in a league of their own, so you can toss out the price guides. This was very good money for condition noted, but obviously not enough for the consignor. Best Buy #F23-1971 CHEVROLET CORVETTE coupe. S/N 194371S106227. Engine bay complete and original in appearance, but some chrome is flaking off in areas. Fitted with factory a/c. Cond: 3-. SOLD AT $19,610. 1973s are like pistachio ice cream: It's still ice cream, but only a few people really like it. For many Corvette enthusiasts, interest cuts off with the removal of the chrome


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front bumper in 1972, so who knows where that leaves the '73s, which are half steel and half plastic. That said, this was a good quality coupe with the bulky LS4 454 to power you down the road. At least it has a/c to keep your feet cool. This was correct money for this car and both parties should be happy. #F63-1976 CHEVROLET CORVETTE coupe. S/N 1Z37L6S420228. Red/black leather. Odo: 80,046 miles. 350-ci V8, 4-bbl, auto. Non-original engine. Passenger's door tight at rear quarter, other gaps good. Paint showing minor chips and some light scratches, minor overspray noted. Interior well preserved but not super fresh, engine bay looks decent but is not detailed or all that clean. A driverclass Corvette. Presented as an L82 on the car card, engine built to 400-hp specs. Cond: 3. SOLD AT $12,190. Reported as an original L82 example, but the VIN tells us otherwise, as the fifth letter should be an “X.” Obviously, the bidders figured this out before the car hit the block. From an originality standpoint, this was one to stay away from. Let's hope all turns out well for the new owner. C4 #S166-1986 CHEVROLET CORVETTE Indy Pace Car convertible. 1G1YY6783G5900200. Maroon/tan S/N vinyl/ saddle leather. Odo: 4,699 miles. 350-ci 235-hp fuel-injected V8, auto. Claimed original miles. All gaps per factory fit. Factory paint excellent with no specific or nagging issues noted. Top fit very snug, interior excellent and still smells new. One of 7,315 convertibles built in 1986, marking the return of the convertible since its hiatus in 1975. Pace Car decals still in the original box. Multiple NCRS awards including Top Flight. Cond: 2+. SOLD AT $21,200. This was a great example of how to preserve a C4. Keep up on the routine maintenance, keep it clean and very dry, and drive it enough to keep the seals and hoses from drying out. 1986 was the second opportunity for Corvette to provide the Official Pace Car for the Indianapolis 500, where the car was driven by Chuck Yeager. Chevrolet did not make any modifications to the car for this task, so all convertibles are Pace Car replicas. Based on condition and miles noted, I have to call this very well bought. ■ www.vettemarket.com WINTER 2009 Corvette Market 63


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Market Report C Global Roundup Corvettes across the block 65 Corvettes From Around the World orvette Market's Auction Analysts closely watched the market over the last few months, covering Corvettes as they sold at auction in locations spanning from foggy London to the sun-drenched Arizona desert. The 65 cars included in their coverage, along with the values placed on these cars by bidders, are what sets CM apart as a magazine. You simply won't find this kind of in-depth coverage in any magazine, anwhere. We hope the information provided by these reports helps to make you a more informed collector. Auctions Covered This Issue: Bonhams & Butterfields, Brookline, MA, 10/4/08—Don Schoeny Kruse International, Hershey, PA, 10/8/08—Chip Lamb Barrett-Jackson, Las Vegas, NV, 10/16/08—Dan Grunwald Silver Auctions, Las Vegas, NV, 10/17/08—Lance Raber RM Auctions, Toronto, CAN, 10/24/08—Norm Mort Bonhams & Butterfields, Los Angeles, CA, 10/25/08—Ed Milich RM Auctions, London, UK, 10/29/08—Paul Hardiman The Worldwide Group, Hilton Head, SC, 11/1/08—Chip Lamb Zephyrhills, Zephyrhills, FL, 11/13/08—Dale Novak Leake Auctions, Dallas, TX, 11/21/08—Phil Skinner McCormick, Palm Springs, CA, 11/21/08—Carl Bomstead Bonhams, London, UK, 12/1/08—Paul Hardiman Auctions America, Raleigh, NC, 12/5/08—Chip Lamb Mecum Auctions, Kansas City, MO, 12/5/08—B. Mitchell Carlson ICA, Gilbert, AZ, 1/10/09—B. Mitchell Carlson Silver Auctions, Fort McDowell, AZ, 1/16/09—B. Mitchell Carlson RM Auctions, Phoenix, AZ, 1/16/09—Carl Bomstead Gooding & Company, Scottsdale, AZ, 1/17/09—Donald Osborne Market opinions in italics C1 #830-1954 CHEVROLET CORVETTE roadster. S/N E54S003925. Black/tan cloth/ red vinyl. Odo: 7,872 miles. 235-ci 155-hp straight 6, 3x1-bbl, auto. Fresh body-off restoration with new high-level paint, interior, and chrome. Panel gaps typically varied, with #506-1956 CHEVROLET CORVETTE convertible. S/N E56S004091. Venetian Red & white/white vinyl/red vinyl. Odo: 50,827 miles. 350-ci 370-hp V8, 4-bbl, 4-sp. Decent workmanship, several shortcuts on panel alignment, chassis and underside given minimum of detailing. Engine clean but not antiseptic, especially in the recesses, interior looks stock a full going over—especially the fuel system, which presented a stale odor on start-up. Kruse/Leake, Dallas, TX, 11/08. #261-1957 CHEVROLET CORVETTE convertible. S/N E57S105087. Venetian Red & white/tan vinyl/red vinyl. Odo: 8,066 miles. 283-ci 270-hp V8, 2x4-bbl, 4-sp. Fresh restoration still degassing, slight defects under paint and evidence of body repairs in left front corner of hood. Reproduction top missing instruction tag and still wrinkled. Chrome and brightwork likely all new reproduction or thoroughly restored. Interior likewise fresh aside from slightly ratty shifter surround plate. Engine compartment fully restored including claimed original 2x4-bbl setup. Cond: 2. SOLD AT $84,240. It never fails to flabbergast me that someone will spend packing boxes full of money on component restorations without spending more time on paint and bodywork. In a brilliant color such as Venetian Red, any issues scream at passers-by. This car had a great look, but the up-close needs noted made it well sold at this price. Kruse, Hershey, PA, 10/08. #SP145-1957 CHEVROLET CORVETTE convertible. S/N E57S105359. Cascade Green & white/white vinyl/beige vinyl. Odo: 3,503 miles. 283-ci 245-hp V8, 2x4-bbl, 3sp. Recently completed three-year body-off restoration by a member of the NCRS. Well done paint, new Shoreline Beige Al Knoch interior and top. Seats badly wrinkled and need more padding to fix. All new chrome, detailed driver's door a bit wide in front and top cover gap wide on right side. Cond: 1. SOLD AT $91,300. This was one of the most complete and nicest restored early 'Vettes around. The hammer price was strong, but that shouldn't surprise. Barrett-Jackson, Las Vegas, NV, 10/08. 64 Corvette Market WINTER 2009 www.vettemarket.com but needs detailing. Cond: 3+. SOLD AT $69,660. The seller was a little confused over whether this was a 355 or a 350, and he was not sure of the origins of the transmission, which looked like an M20 to me. The car was reported to be a turn-key driver, but before going too far from home I would recommend engine and chassis. Wide whitewall tires and matching painted steel wheels with full discs. A beautiful example, driven just 3,500 miles since restoration. Cond: 1-. SOLD AT $64,020. Little to criticize here. This was a nice solid-axle 'Vette at a great price, and the owner can just show and enjoy. Well bought


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Market Report vinyl/red Global Roundup Corvettes across the block below average market value. RM Auctions, Toronto, CAN, 10/08. #518.1-1958 CHEVROLET CORVETTE convertible. S/N J58S106950. Red & white/ white vinyl. Odo: 75,324 miles. 350-ci V8, 4-bbl, 3-sp. New non-original color done to a high standard. Bumper chrome, some trim, and grille shows scratches, pits, and wear. Newer engine with headers and 3speed manual. All-black engine compartment, heater delete. Cond: 3+. SOLD AT $55,000. Originally exported to Hawaii, and has been there since, which kind of makes the Coral color and heater delete seem appropriate. Market price for condition. Barrett-Jackson, Las Vegas, NV, 10/08. #2539-1960 CHEVROLET CORVETTE convertible. S/N 00867S103814. Ermine White/white fabric/turquoise 14,581 miles. 283-ci 245-hp V8, 2x4-bbl, 4-sp. Hydraulic valve engine makes for quiet operation while still having plenty of power. Top weak and needs some attention, bodywork good, paint starting to show some aging. vinyl. Odo: and mileage, engine clean with no leaks or streaks. A solid original car. Cond: 3. SOLD AT $48,038. The price paid was about right for a base-level 1960 Corvette. The key here is how original is original, and checking the numbers will tell for sure. If it all checks out, the buyer found a nice surviving example and made a solid investment. McCormick Auctions, Palm Springs, CA, 11/08. #121-1960 CHEVROLET CORVETTE convertible. S/N 00867S106088. Blue & white/white vinyl/blue vinyl. Odo: 4,948 miles. 283-ci 230-hp V8, 4-bbl, 3-sp. Claimed to be numbers-matching. All body gaps good except passenger's door, which is tight at rear top. Nice paint over very good prep, some small touchups noted. Chrome and brightwork show well, but are just above driver level. Interior shows well, but again, not to show standards. Tidy the same custom two-tone. Aftermarket shift linkage. Cond: 3+. SOLD AT $47,123. While it might not be everyone's cup of tea, this was well put together and not too radical. If a custom C1 tickles your fancy, this was a good buy. Bought well might not be the best way to say it, but for someone who is tempted to do the restomod thing, this would be a good alternative. Mecum, Kansas City, MO, 12/08. #1-1961 CHEVROLET CORVETTE convertible. S/N 10867S105619. Eng. # 1105619. Roman Red & white/white vinyl/ black vinyl. Odo: 1,362 miles. 283-ci 230-hp V8, 4-bbl, auto. Quite variable panel fit, good paint shows light polish scratches. Chrome Chrome clear, minor wiper marks on windshield. Unknown condition of factory radio and gauges, but they're all properly mounted and under the hood looks to be in order. Cond: 3. SOLD AT $54,000. There were not many straight-axle Corvettes at this sale, but interest in them is still pretty strong. This price was right about spot-on in the current market, which appeared to be stronger in Texas than in other parts of the country. For the time being, location seems to be the key. Kruse/Leake, Dallas, TX, 11/08. #489-1960 CHEVROLET CORVETTE convertible. S/N 00867S104328. Ermine White/red vinyl. Odo: 57,545 miles. 283-ci 230hp V8, 4-bbl, auto. An original Corvette with base engine and Powerglide automatic. Power windows an unusual $60 option. Well-preserved paint with minor spidering, panel fit to factory specs. Interior shows wear appropriate for age 66 Corvette Market WINTER 2009 www.vettemarket.com engine bay. A very nice high quality driver that will win at most local shows. Cond: 2-. NOT SOLD AT $52,500. I don't think this color is the most desirable on this year Corvette, but that's a matter of preference. Overall, this showed well until you examined it up close, as you could see some small flaws on what might very well be an aging restoration. The base 3speed most likely held it back. Probably just shy of market correct at the high bid. Zephyrhills Auction, Zephyrhills, FL, 11/08. #S147-1960 CHEVROLET CORVETTE Custom convertible. S/N 00867S104142. Red & white/black cloth/red & black vinyl. Odo: 27,608 miles. 350-ci V8, 2x4-bbl, 4-sp. Somewhat modified, with shaved bumpers and wheelwells. Generally good body prep and paint, although hood and trunk gaps are uneven. All reproduction brightwork, fresh cloth top wrinkled. Mid-1970s 350 with a host of aftermarket parts, aftermarket sway bars front and rear. Custom seat upholstery with C4 logos embroidered on seatbacks, door panels done in decent, with some light pitting on door A-pillar trim. Interior good, with some waviness in seat piping. Cond: 3-. SOLD AT $57,200. The uneven presentation of this car indicated either an indifferent restoration or a nicely used driver. In either case, a market-correct price was paid for this no-reserve car. Gooding & Company, Scottsdale, AZ, 1/09. #450-1962 CHEVROLET CORVETTE convertible. S/N 20867S110502. Roman Red/black vinyl/black vinyl. Odo: 57,401 miles. 327-ci 300-hp V8, 4-bbl, 4-sp. Heavy red repaint extends into jambs. Factory or better gaps throughout. Chrome and brightwork largely redone, some original lightly pitted pieces remain. Top worn, interior clean, gauges


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faded. Engine bay clean but not overly detailed, claimed 700 miles since engine rebuild. Cond: 2-. SOLD AT $52,920. Once the property of Gladys Knight. A smaller 15-inch steering wheel was present in the car and was touted as making it easier to get in and out. Whether this was one of Ms. Knight's additions due to her, um, well, attributes, or something else entirely, the star power got it done for this nice little red 'Vette. Kruse, Hershey, PA, 10/08. #774.1-1962 CHEVROLET CORVETTE convertible. S/N 20867S101541. White/white vinyl/red vinyl. Odo: 54,447 miles. 327-ci 360-hp fuel-injected V8, 4-sp. Front top fender spear trim pitted, front bumper scratched, some alloy trim shows light scratches as well. New interior with none of the usual flaws. Engine detailed as new. Cond: 1-. SOLD AT $84,700. Last seen at Barrett-Jackson's Scottsdale event in January '08, where it sold at $77,000 (CM# 51922). It started up immediately when cold even with the fuel injection, so the new owner will likely be able to use it without much difficulty. Well bought at a market-correct price. Barrett-Jackson, Las Vegas, NV, 10/08. #632-1962 CHEVROLET CORVETTE convertible. S/N 20867S105338. Red/white vinyl/black vinyl. Odo: 73,197 miles. 327-ci 360-hp fuel-injected V8, 4-sp. Body good, paint OK, most brightwork nice aside from rippled rechrome to front bumper. Originallooking interior with faded carpets, couple of small dings in dash trim. Motor has a couple of dress-up items and injector block is plugged with a nickel, with resulting slight fuel weep. Said to drive well when warmed up. Cond: 2-. NOT SOLD AT $37,500. Ex-Rosso Bianco collection for 30 years, bought for $91,713 at Bonhams Paris in February '08 (CM# 51845). The seller claimed it owed him about $80k, and although another dealer was wavering at a possible $37,500 deal after the sale, it remained listed as unsold. $37k doesn't look much money for a fuelie 'Vette, assuming it could be bought for close to that, so watch for it to pop up in the trade shortly. Bonhams, London, UK, 12/08. C2 #130-1963 CHEVROLET CORVETTE Grand Sport roadster. S/N 002. White & blue/blue vinyl. Odo: 3,684 miles. 427-ci V8, 4-bbl, 4-sp. One of five Grand Sports developed by Zora Arkus-Duntov, of which only two were roadsters. Driven by Roger Penske and George Wintersteen. Original-style all-aluminum 377-ci small-block V8 and reproduction body included with car. Extensive documentation. Thought to be the most original of all five Grand Sports, and considered by many to be one of the most important sports racing cars ever. As-raced condition. Cond: 3. NOT SOLD AT $4,900,000. The star of the show, and likely a once-in-a-lifetime opportunity for the most serious of Corvette collectors. Five www.vettemarket.com WINTER 2009 Corvette Market 67


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Market Report Global Roundup Corvettes across the block #Sat 312-1964 CHEVROLET CORVETTE mil is a big number to say no to, but rumors abounded that the consignor had paid more for it. I do know that after this car failed to sell, the auction went flat. It's safe to say the interested parties were all watching, so I'd call this a market bid. See profile, p. 26. RM Auctions, Phoenix, AZ, 1/09. #165-1963 CHEVROLET CORVETTE coupe. S/N 30837S104707. Sebring Silver/ black vinyl. Odo: 28,524 miles. 327-ci 340-hp V8, 4-bbl, 4-sp. Comprehensive restoration to high standard recently completed. Panel fit exceeds factory specs, quality respray, new board. Needed a jump and a pump to get going and had to be pushed on and off the block. Cond: 4+. SOLD AT $36,720. While it seemed to have a correct powertrain and a generally unmessed-with body, bidding past $30k doesn't make much sense unless you are well-versed in '64s and have a good line on parts. Even at that, there's not much room for profit to turn this one around, as it was nearly market correctly priced even if it was running and wasn't missing parts. The bank got one better than a government bailout on this one. Well sold. ICA, Gilbert, AZ, 1/09. interior kit with minor fit issues. Original spinner hubcaps fitted. Strong presentation of a desirable Split-Window. Cond: 1-. SOLD AT $60,900. Would place this in the well bought column as it could have easily brought another $10k without raising an eyebrow. Kudos to the buyer. McCormick Auctions, Palm Springs, CA, 11/08. #205-1964 CHEVROLET CORVETTE convertible. S/N 40867S119729. Gold/tan cloth/saddle leather. Odo: 57,084 miles. 327-ci 300-hp V8, 4-bbl, 4-sp. Sharp body after older restoration, headlight pods even fit well. Said #590-1964 CHEVROLET CORVETTE convertible. S/N 40867S116986. Silver Blue/ white vinyl/dark blue vinyl. Odo: 51,380 miles. 327-ci V8, 4-bbl, 4-sp. Old repaint with some gouging where top lands at doors and rear quarters, some light blistering on passenger's side of cowl, later hood fitted. Front wheelwell openings somewhat crudely reinforced, rear wheelwell inner lips sharply radiused, some patch work in right rear wheelwell. Dinged and dull original front bumpers, incongruent door and panel gaps, older replacement top said to need some repair. Older repop seat and door coupe. S/N 40837S111558. Red/black vinyl. Odo: 31,938 miles. 327-ci 365-hp V8, 4-bbl, 4sp. Bank repossession consignment. Complete color change from original Saddle Tan, serial number tag crudely pop-riveted back in place. OK repaint with a few light blemishes, heavy paint scratches over left rear wheel. Generally good door and panel fit, mostly reproduction brightwork, replated bumpers. Newer all-reproduction interior soft trim and redyed dash- made $7k on the car (factoring in the cost of the detailing work). This 24-hour owner also tagged the phrase “Survivor Driver” on the description; it's not the former, but definitely the latter. Silver Auctions, Fountain Hills, AZ, 1/09. #466-1965 CHEVROLET CORVETTE coupe. S/N 194375S112514. Nassau Blue/blue leather. Odo: 59,932 miles. 327-ci 300-hp V8, 4-bbl, auto. Outstanding restoration from a few years back, fitted a/c, ps, pb, pw, teak wheel, tilt column, factory AM/FM radio, clock, tach, knockoff wheels, Goldline tires, and a numbers-matching drivetrain. Excellent body condition with no stress cracking or major paint maladies, very light dusting of scuffs. Weakest spot is detailing in engine bay and on chassis. Cond: 2+. SOLD AT $63,720. This car had eye appeal, and with all the numbers matching and working a/c, what more could a new owner ask for? Two years ago this car might have commanded a bit more, so you can chalk this up as a good buy. Kruse/Leake, Dallas, TX, 11/08. #77-1965 CHEVROLET CORVETTE Custom coupe. S/N 194375S117337. Red/ black vinyl. Odo: 51,447 miles. 502-ci V8, 2x4-bbl, 4-sp. “Tastefully modified” from an original 396 coupe in Ermine White with saddle vinyl interior. Crate 502 big-block with dual Holley 650 double-pumpers, MSD ignition, Richmond 5-speed manual, and original 3.08 Positraction rear end. Flared rear wheelwells, highly prepped body, smooth paint. to be matching-numbers. Leather wearing well, no slop in steering, carpets becoming slightly detached at sides. Tidy engine bay with correct branded hoses. Cond: 2+. SOLD AT $42,346. Recently imported from California, and cheaper than similar cars available on retail in the U.K. around $65k. Well bought. RM Auctions, London, UK, 10/08. 68 Corvette Market WINTER 2009 www.vettemarket.com panel vinyl with light wear, carpeting rather heavily faded. Cond: 3-. SOLD AT $31,860. This is a classic example of what even basic prep work will do for you on the auction block. The original consignor pretty much just drove the car to the auction, put a lot number on it (447), and watched it sell for $24,000. The prudent buyer had it detailed and buffed out the next morning, got a lot number, and promptly Replacement trim and chrome, loose door handles on both sides. Full replacement interior, with fresh leather seats and new door panels. Cond: 2-. SOLD AT $52,920. An auction frequent flyer, as last year it was a no-sale at ICA's Gilbert auction in January at $42k. This year, it bucked the overall market downturn, the specific downturn in resto-mods, and rerun-itis. Sold well. Silver Auctions, Fountain Hills, AZ, 1/09.


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Market Report Global Roundup Corvettes across the block #SP143-1966 CHEVROLET CORVETTE coupe. S/N 194376S105720. Red/red leather. 427-ci 450-hp V8, 4-bbl, 4-sp. Fitted with side exhaust, correct wheels, period whitewalls, teak steering wheel, AM/FM radio, power antenna, heater, clock, and clean red leather upholstery with matching carpet. Decent paint with only minor imperfections. Rechromed bumpers, other chrome OK aside from scratched trim and pitted door handles. Red leather seats like new but slightly underpadded. Clean underhood with a start on detailing, sprayed black underside. A great driver with room for improvement. Cond: 2-. SOLD AT $52,923. Reportedly a matching numbers 427 and 4-speed as noted in the RM catalog, but none of the usual documentation was mentioned. Assuming everything is kosher, this was a very good buy. RM Auctions, Toronto, CAN, 10/08. #386-1967 CHEVROLET CORVETTE convertible. S/N 194677S121115. Marina Blue & black/blue vinyl. Odo: 3,336 miles. 427-ci 435-hp V8, 3x2-bbl, 4-sp. A quality restoration that appears a bit overdone. L71 engine option originally cost $437. Panel fit better than new, scratches on bumpers and pitted vent windows. Newer black vinyl interior, mild wear on black carpets. Clean dash and gauges, underside and engine clean and have had some detailing. A clean example. Cond: 2. SOLD AT $47,800. Last seen at RM's Toronto sale in April '08, where it failed to sell at $51,000 (CM# 116272). A sharp looking 'Vette to enjoy, with minor, easy-to-fix problems. The seller did well, but this was a fair deal for both, as it has good investment potential in the future. RM Auctions, Toronto, CAN, 10/08. #213-1967 CHEVROLET CORVETTE convertible. S/N 194677S122516. Rally Red/red hard top/black vinyl. Odo: 93,650 miles. 327-ci 300-hp V8, 4-bbl, 4-sp. Older economical repaint in the right color crazing after years of use. Some body stress in front clip, chassis lacking any attempt at detailing. Interior all there with AM/FM radio, clock, stinger stripe not typical of factory production. Quality respray, excellent brightwork, engine heavily detailed. No documentation offered. Cond: 1-. SOLD AT $110,250. Price guides place 427/435 convertibles at over $150,000, so you could say this was a bargain. On the other hand, nothing was offered that documented this as an original L71. If the numbers come up matching, this was a great buy. McCormick Auctions, Palm Springs, CA, 11/08. #SP93-1967 CHEVROLET CORVETTE convertible. S/N L000000001. Black/black cloth/black vinyl. Odo: 64,676 miles. 327-ci 300-hp V8, 4-bbl, auto. Decent paint with minor imperfections and some sanding marks. Fitted with side exhaust, Redline tires, and a new black cloth top. Fresh chrome with minor 70 Corvette Market WINTER 2009 www.vettemarket.com and tach; gauges a bit cloudy and controls need attention. Fitted with teak wheel, base Rally wheels and Redline tires. Decent eye appeal, a good 50-footer. Cond: 4. SOLD AT $48,600. The mid-year models are still the hot ticket, and even in this condition, they can command a good price. This seller wasn't greedy and the buyer wasn't dreaming, as about $10k invested in this car will give it real potential in today's market. Kruse/Leake, Dallas, TX, 11/08. 194677S112654. Lyndale Blue & white/white vinyl/white vinyl. Odo: 42,760 miles. 427-ci 435-hp V8, 3x2-bbl, 4-sp. Fresh TOP 10 #7 #807.1-1967 CHEVROLET CORVETTE convertible. S/N radio. Engine bay detailing nice but older, later 454-ci V8 installed in place of original 427/390 unit. Cond: 2-. SOLD AT $64,260. Last seen at Mecum's Kissimmee sale in January '08, where it sold for $63,000 (CM# 49061) and was listed with a 427/390 powerplant. Despite now being listed as having a later 454-ci engine, it still brought decent money for a goodlooking driver, and it was a good example of the stability of the Corvette market through one of the most turbulent economic years in decades. Well bought and sold, both then and now. Auctions America, Raleigh, NC, 12/08. C3 #162-1968 CHEVROLET CORVETTE convertible. S/N 194678S400032. Black/black vinyl/red vinyl. Odo: 17,868 miles. 350-ci V8, 4-bbl, 4-sp. Complete frame-off rebuild by a restoration to high standards, as-new in all respects. 2008 NCRS Top Flight winner. Optioned with alloy wheels, side exhaust, power brakes, telescopic steering wheel, power windows, and tinted glass. Chromed-over front bumper dent and dirty vent handle knobs are the only issues noted. Cond: 1. SOLD AT $165,000. In my opinion, Lyndale Blue was one of the best colors of 1967, and this car was stunning. This combination was deserving of the price paid. Well bought and sold. Barrett-Jackson, Las Vegas, NV, 10/08. #374-1967 CHEVROLET CORVETTE convertible. S/N 194677S120604. Blue & white/white vinyl/teal vinyl. Odo: 66,496 miles. 454-ci 365-hp V8, 4-bbl, 4-sp. Recent cosmetic restoration. Paint and bodywork to a high standard, gaps factory or better. Stinger stripe looks wider than typical factory production. Chrome redone, brightwork mixed, stainless trim looks overbuffed. Weatherstripping older and lightly petrified. Interior possibly all-original and correct, aside from modern


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knowledgeable enthusiast. Excellent black paint, new Al Knoch black top, rechromed original bumpers, fresh red carpets and vinyl interior. Completely rebuilt and upgraded suspension, new GM crate 350 with polished Holley Avenger carb and electronic ignition. Not original, but a very nicely rebuilt example. Cond: 2. SOLD AT $23,047. A knowledgeable owner beside his car who is willing to point out salient features certainly helps at auction time, and that was the case here. This car's build quality also helped, despite the long list of upgrades. Well bought and sold. RM Auctions, Toronto, CAN, 10/08. #224-1968 CHEVROLET CORVETTE coupe. S/N 194378S421694. Eng. # T05281L. Green/green vinyl. Odo: 52,106 miles. 427-ci 390-hp V8, 4-bbl, 4-sp. Paint and trim done to show quality, panel gaps much better than new. Most soft goods appear to have been replaced, including seat covers and all weatherstripping. Had this had an original numbers-matching 427 of any flavor, it would have been a good buy at twice this price. It didn't appear to be a bad buy for this money, and it probably still has some room to grow with just a little TLC. That said, don't hold your breath waiting for a miracle... you'll just get blue in the face. Kruse/Leake, Dallas, TX, 11/08. #372-1968 CHEVROLET CORVETTE convertible. S/N 194678S413290. Metallic red/black vinyl/black vinyl. Odo: 1,691 miles. 350-ci 350-hp V8, 4-bbl, 4-sp. Non-original engine, modern 17-inch alloy wheels, performance radial tires. High quality labor intensive body prep, excellent door and panel fit, impeccably done paint. Rear bumpers flat and wrinkle-free. Freshly installed crate motor, dingy undercoating job on the whole of the undercarriage. Older reproduction seat upholstery, door it appears this car was forgotten for quite some time before being brought to a visually acceptable condition. Cond: 3. SOLD AT $24,840. On start-up there was no blue smoke or other maladies, which probably indicates that this was a good driver, and for the money, the buyer should be able to enjoy his ride as a hobbyist should. If the buyer was a dealer, he may have to add to the investment before getting any capital gains, at least for the time being. Kruse/Leake, Dallas, TX, 11/08. #F78-1970 CHEVROLET CORVETTE convertible. S/N 194670S401305. Medium blue metallic/tan vinyl/saddle vinyl. Odo: 83,539 miles. 350-ci 300-hp V8, 4-bbl, auto. Factory options include ps, pb, and tilt/telescopic column. Heavily prepped body with no seam broadcasting, fresh repaint is a color change from original Donnybrooke Green. Front bumper alignment off, door gaps wider at the rear than the front. Rear suspension rides Cond: 2. NOT SOLD AT $65,000. This was as good a '68 Corvette as you are likely to find. This was one of those cases where details mattered to the owner, and he clearly spared no expense to get it right. He was looking for around $20k more than was offered here, but this bid wasn't far from the mark in this market. Silver Auctions, Las Vegas, NV, 10/08. #538-1968 CHEVROLET CORVETTE coupe. S/N 194378S425955. Safari Yellow/ Black vinyl. Odo: 39,161 miles. 427-ci 425-hp V8, 3x2-bbl, 4-sp. Appeared to have been forgotten for quite some time before being reborn with a transplanted big-block engine. Sporting recent work, including springs, bushings, and door and T-top seals. Color claimed original to car, sports factory AM/FM radio, clock, tach, and updated a/c. Lots of detailing needed, but no major body woes and interior appears comfortable. Cond: 3. SOLD AT $21,330. The time to think about these C3 models is right now. panels, carpeting, and dashpad show minimal wear from light use. Cond: 3+. SOLD AT $28,620. This car is a good example of why you should never think, “I will never get rid of this car, I'm going to build it exactly the way I want it.” To quote the window card: “Insane amounts of money spent, won many shows. Never to be for sale, but a family emergency forced their hand.” There seems to be a lot of that going around these days. If you are building a car, always keep in mind that you may have to sell it one day—maybe even the day you finish it. This price was likely below what the seller had in it, but I'd call it correct in this market. Silver Auctions, Fountain Hills, AZ, 1/09. #446-1969 CHEVROLET CORVETTE convertible. S/N 194679S701281. Daytona Yellow/black fabric/black vinyl. Odo: 83,223 miles. 350-ci 350-hp V8, 4-bbl, 4-sp. Seller claimed a full restoration was given to this car a year ago, except for a few items like missing a/c belt and non-functional radio. Engine and transmission supposed to be original. New Rally wheels, ps and pb, driver's door a little tough to close. From the nooks and crannies, higher than the front. Motor has older rattle can repaint and is generally dingy. Mostly new interior, with reproduction seats and carpeting. Redyed door panels and dashboard a bit lighter than seats. Cond: 3-. SOLD AT $18,900. The buyer must have thought he really picked up a good deal, as on Saturday morning when I photographed the car, he placed a sign on it stating that it was for sale for $22k “today only.” Now I feel a lot better about not even thinking about bidding on it Friday night. Mecum, Kansas City, MO, 12/08. #U64-1970 CHEVROLET CORVETTE coupe. S/N 194370S409591. Daytona Yellow/ black vinyl. Odo: 92,384 miles. 350-ci 300-hp V8, 4-bbl, auto. Factory options include ps, AM/FM radio, and a/c, although the a/c compressor is missing. Good quality repaint, most original body imperfections hidden. Excellent door and panel gaps, front bumper to body fit off. Both bumpers replated, most trim is reproduction. Paint chipped off of cowl trim at base of windshield. Freshly rebuilt suspension www.vettemarket.com WINTER 2009 Corvette Market 71


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Market Report Global Roundup Corvettes across the block with all-new bushings. Moderate wear to alloriginal interior, cracked door panel arm rests, moderate wrinkling on passenger side. Cond: 3-. SOLD AT $11,025. While it was declared sold on Friday night as lot F129 for $14,438, it reappeared on the block on Sunday as Lot U64. Then it was turned loose when the reserve hit $10k. Based upon the car and current economic realities, Sunday's sale was a decent deal. Mecum, Kansas City, MO, 12/08. #164.1-1972 CHEVROLET CORVETTE coupe. S/N 1Z37W2S5025560. Maroon/black leather. Odo: 64,703 miles. 454-ci 270-hp V8, 4-bbl, 4-sp. Good non-stock pearl burgundy paint, typical headlight door panel cracks on both sides. Panel gaps typical of factory production. Side and back windows scratched, some age cracking to leather seats. Fitted with by at least a half-inch, which might indicate body damage. Other gaps seem per factory. Chrome and stainless trim good overall for a driver. Luggage rack nice, budget paint showing plenty of issues with prep and masking, especially at hood. Cloth interior is custom. No mention of matching numbers. Cond: 4+. SOLD AT $8,600. This was claimed to be equipped with a 5-speed and a rebuilt engine, but there was no mention if it was the original block. The cloth interior was not per factory and looked out of place. Just a tired but slightly “freshened” Corvette with plenty of needs. Cheap, but not worth the price paid. Well sold. Zephyrhills Auction, Zephyrhills, FL, 11/08. newer cassette stereo and Hooker chrome side pipes. Miles said to be original. Cond: 2-. SOLD AT $36,300. An honest car that looked to have been cared for. There were no major flaws, and the dead bugs on the windshield suggested it had been driven here from the seller's home in New Mexico. Sharks have been on the rise over the last year, but this price was still rather strong considering this car's repaint and aftermarket bits. Well sold. Barrett-Jackson, Las Vegas, NV, 10/08. #519.1-1972 CHEVROLET CORVETTE coupe. S/N 1Z37LZS523297. Steel City Gray/ black leather. Odo: 2,457 miles. 350-ci 255-hp V8, 4-bbl, 4-sp. Tilt/telescopic wheel, factory a/c. Good newer paint and chrome, heavy sanding scratches on back window and side glass. Detailed engine with air pump, painted undercarriage. Documented with tank sticker and copies of title history. Cond: 2. SOLD AT $67,100. I don't understand power sanding scratches on the edges of the back window when the window is removable. This was strong money for a '72 LT-1, even considering the original a/c. Well sold. Barrett-Jackson, Las Vegas, NV, 10/08. #306-1973 CHEVROLET CORVETTE coupe. S/N 1Z37J3S429088. Orange/tan cloth. Odo: 92,659 miles. 350-ci 190-hp V8, 4-bbl, 5-sp. Passenger's door gap very wide at fender 72 Corvette Market WINTER 2009 www.vettemarket.com suspension bushings, and shocks fitted. Well preserved original interior with minimal wear. Cond: 3. SOLD AT $17,588. This was claimed to be consigned by the third owner, and it included most paperwork from when it sold new. A market price for an originally red finalyear C3 convertible in this condition. Mecum, Kansas City, MO, 12/08. #209-1975 CHEVROLET CORVETTE convertible. S/N 1Z67J5S431641. Light blue metallic/white vinyl/black vinyl & cloth. Odo: 61,715 miles. 350-ci 205-hp V8, 4-bbl, auto. Older repaint exhibits light scratching and surface defects, gaps as good as when new. Brightwork likely original and in very good condition, white top wrinkled, interior appears comprehensively restored with few faults. Engine bay a mixture of original components and mostly correct accessories. Cond: 2-. #S95-1975 CHEVROLET CORVETTE convertible. S/N 1Z67J55402342. Red/white vinyl/black vinyl. Odo: 14,318 miles. 350ci 165-hp V8, 4-bbl, auto. Factory options include ps, pb, alarm, a/c, and AM/FM radio. Newer mediocre repaint with some haphazard masking, good panel and door gaps, excellent original brightwork with only light scuffing. Door latches sag slightly on both sides. Fresh replacement soft top is rather heavily wrinkled. Recently detailed engine compartment is generally authentic, new brake components, SOLD AT $20,960. With factory a/c and in an attractive color combination for the period, this last-year Corvette convertible in the C3 build had plenty going for it, at least until you look between the seats and see the automatic shifter behind something other than a 454. Initially unsold across the block, it apparently found a home post-sale. As a boulevard cruiser attractive to most, this was not a bad deal, but there's not much more upside in it. Auctions America, Raleigh, NC, 12/08. #S8-1976 CHEVROLET CORVETTE Custom coupe. S/N 1Z37L6S438055. Yellow/ black vinyl. Odo: 91,607 miles. 350-ci fuelinjected V8, auto. Originally equipped with ps, pb, tilt/telescopic column, pw, and a/c. Aftermarket ground effects kit makes the car look a lot like 1980–82 models. Nice body and paint, some overspray on headlight door vacuum canisters. Original motor heavily modified with fuel injection, headers, serpentine belt, and modern aftermarket a/c compressor. Reproduction upholstery and carpeting. Aftermarket DIN-mount stereo in redyed dash, vacuum plating on a/c outlets mostly worn off. Cond: 3. SOLD AT $10,500. Last seen here in December '07, where it sold at $11,813 (CM# 47868). The Sunburst Yellow repaint did quite a bit to help the car, as it was done pretty well and didn't make the car look like it was too heavily modified. A “Corvette Summer” paint job would have probably hurt the selling price, as you rarely have two bidders in the same room who have both money and bad taste. In this case, both the buyer and seller should be pleased. Mecum, Kansas City, MO, 12/08. Silver #152-1978 CHEVROLET CORVETTE Anniversary coupe. S/N 1Z8748S411234. Two-tone silver/oyster vinyl. Odo: 29,875 miles. 350-ci 220-hp V8, 4-bbl, 4-sp. Has been ridden hard and put away wet a number of times. L82 with no claims of correct numbers, paint scheme a little off from


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original, interior especially worn. Overall unkempt appearance. Cond: 4. SOLD AT $8,748. The numbers showed this was a real 25th Anniversary car, but there were plenty of these cars built and many are in much better condition. For the price paid, the buyer should be OK, as the car is 30 years old and it does have the upgraded engine and 4-speed. Also, the original wheels really didn't look all that bad from a distance. However, before hitting the road in this car, the new owner should give it a complete check-up in a controlled environment. Kruse/Leake, Dallas, TX, 11/08. Silver #U19-1978 CHEVROLET CORVETTE Anniversary coupe. S/N 1Z8748S420914. Two-tone silver/tinted panels/ oyster leather. Odo: 70,778 miles. 350-ci 220hp V8, 4-bbl, auto. Factory optional a/c, ps, pb, pw, and tilt/telescopic column. “Total frame-on restoration,” with over $25k claimed in receipts. preservation piece exhibits light fading, chips, and buff-through to original paint. T-tops fit poorly. Rubber, trim and brightwork extremely supple. Small star in original windshield at center. Original interior well preserved, light fade to original rear carpet to be expected. Engine compartment clean and undetailed, factory a/c completely original and intact. Cond: 2. SOLD AT $14,580. I liked this car for its originality as well as for being the most launchable car of its malaise-ridden model year. The unusual color scheme combined with these factors and matching numbers made it a bulletproof buy at this price. Well bought for the future. Kruse, Hershey, PA, 10/08. #354-1981 CHEVROLET CORVETTE coupe. S/N 1G1AY8768B5107365. Silver & blue/mirrored glass/blue leather. Odo: 26,030 miles. 350-ci 190-hp V8, 4-bbl, auto. Body gaps per factory. Good paint, nose faded and showing stone chips, front air dam cracked. Mirrored T-tops, wheels and tires in good shape. Interior in driver condition overall with no glaring issues but shows a reasonable amount fixed. Recently resquirted front fascia slightly off hue with rest of older repaint. Typical C3 door to front clip gaps. Stock a/c system replumbed with R134a. Seat and steering wheel rim wear commensurate with miles. Cond: 3-. SOLD AT $8,500. On Friday night, as lot F88, this was a no-sale bid to $9,500, proving what generally occurs with re-runs: they almost always get bid for less. In this case, the dealer knew it, and all things considered, he cut it loose at the right time. Mecum, Kansas City, MO, 12/08. C4 #332-1984 CHEVROLET CORVETTE coupe. S/N 1G1AY0784E5120542. Red/gray cloth. Odo: 7,033 miles. 350-ci 205-hp fuelinjected V8, auto. All body gaps per factory. Matte black trim around windshield in very good condition. Original paint in great shape but does show some light scratches and an unusual blemish in the hood paint that might be from excessive heat. Interior showing use in line with miles stated, but it could be better. Equipped with special sport seat option. “$7K in paint,” which is pretty much just getting by today. Some chrome engine dress-up parts, engine and chassis generally dingy. Serviceable original interior soft trim with moderate wear and soiling. Cond: 4+. SOLD AT $10,500. The reserve was met at $10k, proving once again that you're better off buying someone else's restoration. That is, unless it wasn't done very well. Mecum, Kansas City, MO, 12/08. #740-1979 CHEVROLET CORVETTE coupe. S/N 1Z87495431991. Beige/blue glass/ beige leather. Odo: 39,729 miles. 350-ci 225hp V8, 4-bbl, 4-sp. Apparently all-original L82 of use. Presents as a good weekend cruiser in driver condition. Nothing more. Cond: 3. SOLD AT $12,402. A nice unmolested driver quality C3 without much to complain about. Not spectacular in any regard, but not beat to death, either. There was no mention of whether the miles were actual, so I'd assume 126,030. A fair deal for both buyer and seller. Zephyrhills Auction, Zephyrhills, FL, 11/08. #U12.1-1982 CHEVROLET CORVETTE coupe. S/N 1G1AY8780C5109078. Silver Blue/blue leather. Odo: 81,478 miles. 350-ci 200-hp fuel-injected V8, auto. Factory options include power seats, tilt/telescopic column, power locks, cruise control, rear defrost, and alloy wheels. Factory painted T-tops stashed in the back, aftermarket 1-pc tinted roof panel af Overall in nice condition, but you'd expect better with one owner and low miles. Cond: 2. SOLD AT $10,706. Offered at no reserve. This was an excellent buy for a great driving and well preserved C4 even though the cloth seats looked out of place. However, they are correct and somewhat rare. Had it been equipped with leather seats, I think we would have seen another $1,000 or so. How can you go wrong with a practically new first-year C4 for the price paid? Well bought, now go have some fun with it. Zephyrhills Auction, Zephyrhills, FL, 11/08. Best Buy #Sun 145-1984 CHEVROLET CORVETTE coupe. S/N 1G1AY0785E5132439. Brown metallic/black cloth. Odo: 140,530 miles. 350-ci 205-hp fuel-injected V8, auto. Issued an Arizona Not Actual Mileage title. Average quickie full-body repaint with thick masking lines, replacement C4 body emblems. Cracked windshield along the driver's side Apillar, moderately sunburned weatherstripping. Aftermarket tail lamp louvers only on the outboard lenses. Engine bay rather dusty and dingy but is generally bone-stock. Both seats and replacement carpet well fitted. Original vinyl door panels firmly mounted and are quite serviceable. Cond: 4. SOLD AT $2,592. This was one of the most talked-about cars of the www.vettemarket.com WINTER 2009 Corvette Market 73


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Market Report Global Roundup Corvettes across the block show driving dirt. Minor paint chips on front end, other paint still nice. Driver's seat bolster wrinkled in the usual spot. Cond: 2. SOLD AT $26,950. This was said to have original miles, so if it runs out OK, it was a pretty decent deal for the money spent. Well bought at around the same price of a similar but much more common '90 ZR-1. Barrett-Jackson, Las Vegas, NV, 10/08. weekend, due entirely to the selling price. The auctioneers were nearly begging to get the bid started at $700. Thing is, this wasn't a really bad car (although some would say that being an '84 in itself makes it a bad car). Granted, you have about $1,500 worth of work to do right now to keep it legal (tires and windshield), but even at that, is a #4 condition C4 in brown metallic only worth $3k in 2009? Bought well, if only to drive it until it drops. ICA, Gilbert, AZ, 1/09. #Sun 1215-1987 CHEVROLET CORVETTE coupe. S/N 1G1YY218XH5110346. Black/ black leather. Odo: 84,799 miles. 350-ci 240hp fuel-injected V8, 4+3 manual. Factory options include power sport seats, power locks, climate pension package, and cruise control. Newer good quality repaint control, Delco-Bilstein with poor top panel masking along the edge. Door to window sus- rubber wipe seal heavily peeled, door glass seals sunburned. Used car lot engine detailing, new battery and starter. Door panel carpet and console upholstery vinyl curling. Original shift knob selector button missing, but is replaced by toggle switch behind shift linkage. Cond: 3-. SOLD AT $6,588. Picked up on-the-cheap from a dealer auction in California (probably due to having a California Not Actual Mileage title since 1995), so the consigning dealer easily cut it loose on Sunday as lot Sun 12:15, having not taken a $6,250 final bid on Saturday. Not a smokin' hot deal, but for a decent driver, it should prove to be a good worker bee car. ICA, Gilbert, AZ, 1/09. #146-1989 CHEVROLET CORVETTE Callaway coupe. S/N 1G1YY2185K5115672. Red/red leather. Odo: 30,400 miles. 350-ci turbocharged V8, auto. Callaway Twin Turbo with Callaway Aero body parts. Several light stone chips on windshield, engine and undercarriage but shows use and soiling commensurate with mileage. A nicely preserved Corvette, but not a show piece either. Cond: 3+. SOLD AT $15,052. There was nothing to really pick on with this example, but there was no real reason to fall in love with it either. Equipped with the rare white sport seats, which were only installed in 709 examples in 1992. As a driver and nicely kept Corvette, this was a decent buy. No harm done here. Zephyrhills Auction, Zephyrhills, FL, 11/08. #606-1992 CHEVROLET CORVETTE coupe. S/N 1G1YY23PN5119929. White/red leather. Odo: 59,002 km. 350-ci 300-hp fuelinjected V8, auto. Mostly original and very decent white paint, prep craters visible on resprayed targa top. Minor wear inside includes cracking on red leather seats and wear to red #374-1992 CHEVROLET CORVETTE convertible. S/N 1G1YY33P8N5119438. Aqua/white vinyl/white leather. Odo: 28,050 miles. 350-ci 300-hp fuel-injected V8, auto. Body gaps per factory. Original paint holding up well with some light scratches and some very small stone chips. Front bumper repainted at some time. Interior in very good condition original, one minor bit of wiper mark noted on windshield. Cond: 3. SOLD AT $8,424. Typically for a later-model Corvette collectible, with nearly 6,750 produced, many of them were put away with the hopes of appreciating in value. While cost of storage and other factors added don't make for a hot 15-year-old car, the original owners of this example got to enjoy the ride, kept it well maintained, and sold it for about book. Kruse/Leake, Dallas, TX, 11/08. #S25-1996 CHEVROLET CORVETTE Collector Edition coupe. S/N 1G1YY2258T5111184. Sebring Silver/tinted panel/red leather. Odo: 59,196 miles. 350-ci 330-hp fuel-injected V8, 6-sp. Equipped with LT4 motor. A well preserved, lightly used original car. Excellent original paint with a few light rock chips on nose and trailing edges of wheelwells. Recently washed engine bay, but not detailed. Chrome sill protectors added, remainder of interior stock. Driver's seat has significantly more wear than passenger's side. #178-1993 CHEVROLET CORVETTE 40th Anniversary coupe. S/N 1G1YY23P6P5113019. Ruby Red Metallic/ maroon leather. Odo: 87,878 miles. 5.7-liter 300-hp fuel-injected V8, auto. Well maintained, pedal and seat wear appear to support mileage. Clean enough for a driver, interior could have had a bit more detailing. All glass is carpeting. Clean, all original detailing underhood and on chassis, minor scuffs on wheels. No serious issues. Cond: 2-. SOLD AT $7,426. A very original and decently preserved example sold at the price of a similar old Miata. A good buy for somebody who always wanted a 'Vette. The seller knew it was time to let it go, and neither side was hurt by the price. RM Auctions, Toronto, CAN, 10/08. 74 Corvette Market WINTER 2009 www.vettemarket.com Cond: 3. SOLD AT $13,125. The LT4 was a one-year-wonder, with 30 more ponies than the garden-variety LT1 that was fitted to not only the Corvette, but all GM rear-drive cars in 1996 (Caprice, Impala SS, and Buick Roadmaster). With the C5 and the new LS-series engines in the works for the next year, it seems a bit odd that they developed the LT4. Sure, the Collector Edition is rarely seen (except for lot F15 on Friday), but it doesn't give that much of a price kick over a $12k car. The LT4 is what made it worth this selling price... but just barely. Mecum, Kansas City, MO, 12/08.


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C5 #572-1998 CHEVROLET CORVETTE Indy Pace Car Edition convertible. S/N 1G1YY32G1W5117484. Purple & yellow/black cloth/black & yellow leather. Odo: 17,901 miles. 5.7-liter 345-hp fuel-injected LS1 V8, 6-sp. No other options aside from pace car package. Well preserved, all-original paint and graphics with no chips, scrapes, or decal lifting. Stock oval exhaust outlets replaced by aftermarket round pieces. Light wear and sale. See profile, p. 32. Gooding & Company, Scottsdale, AZ, 1/09. CORVETTE #Sat 1230-2001 CHEVROLET coupe. S/N 1G1YY22G615107312. Dark Bowling Green/ tan leather. Odo: 94,059 miles. 5.7-liter 350hp fuel-injected LS1 V8, auto. Equipped with 1SC Preferred Equipment Package, 12-disc CD changer, body side moldings, and chrome alloy wheels on replacement Goodyear Eagle F1 tires. Includes most delivery paperwork from when it was sold new. Mostly original paint, probable nose respray, door jambs still #87-2004 CHEVROLET CORVETTE Commemorative Edition convertible. S/N 1G1YY32G545129635. LeMans Blue/shale cloth/shale leather. Odo: 30,281 miles. 5.7-liter 350-hp fuel-injected LS1 V8, auto. Memory Package, auto-dimming mirrors, and performance rear axle. Mostly good original paint, resprayed nose and tail. Original Goodyear radials down to wear bars, light curb rash on all rims. Good original top with light weathering and wrinkling, light wrinkling of driver's wrinkling to top. Well maintained engine bay, regularly cleaned undercarriage. The driver's seat has significantly more wrinkling than expected, but remainder of interior has virtually no wear. Cond: 2-. SOLD AT $22,950. I'd say this example fell just below the good example profiled in the previous issue of CM. This selling price was a bit on the low side, but I wouldn't say it was well bought. A good enough buy if you want one of the few cars that out of the box is perfect for an over-thetop Minnesota Vikings fan. Silver Auctions, Fountain Hills, AZ, 1/09. #91-1998 CHEVROLET CORVETTE Callaway C12 coupe. S/N 1G1YY22GXW5121169. Red/black & gray leather. Odo: 4,501 miles. 5.7-liter 440-hp fuel-injected LS1 V8, 6-sp. Variable, but consistent, panel fit. Very good paint shows only very small stone chips on nose. Interior is very good, with some light soiling on driver's seat hold some polishing compound residue. Fitted with aftermarket chrome exhaust filler trim plate with C5 emblem. Well cared for interior showing far less wear than would be expected for the miles. Cond: 3+. SOLD AT $18,360. Dark Bowling Green Metallic was only offered in 2000 and 2001, with 2,682 cars all told painted that hue—443 being '01 coupes. However, not too many folks are kicking down the doors to get a dark green Corvette, so the relative rarity won't affect the value too much, if at all. Hammered sold right around retail pricing, so this was dearly enough bought. ICA, Gilbert, AZ, 1/09 seat leather, light steering wheel rim soiling. Stock radio replaced with aftermarket CD and DVD unit, subwoofer fitted into left rear storage compartment. Cond: 3+. NOT SOLD AT $25,500. The consigning dealer kept quoting from a price guide that must have been a year old, as he suggested that a #1 value car should bring $38,600, and that's not the current figure. Nevermind that this was not a #1 condition car. In an ideal world, this would be close to $30k, but the market isn't exactly ideal these days. While this bid was a little weak, by the end of the weekend the asking price was a more realistic $29k. Too bad it was a bit too late. Silver Auctions, Fountain Hills, AZ, 1/09. ■ cushion. Cond: 2+. SOLD AT $57,200. The first Callaway C12 built—a thoroughly developed high performance Corvette with a unique look. Seen before at Gooding's sale of the Otis Chandler Collection in Oxnard, CA, in October '06, where it sold at a bargain $121k with only 782 miles on the clock (CM# 43482). Now with over 4k miles, it was a further bargain for the new owner. Performance and exclusivity don't come much cheaper... until the next www.vettemarket.com WINTER 2009 Corvette Market 75


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Trick Stuff Wha Something to get you pumped For the general hobbyist, bu to go. But for a serious Corvette g Gold or NCRS judging, Original E (O.E.M.) parts restored to better-th only way to go. Since such compo the right date codes, part number s details that add to a Corvette's aut Al Fierke's Chicago Corvett Corvette parts since Zora was a bo almost anything at a very reasona Take this 1963–67 Corvette washe example. A reproduction pump ru but Chicago Corvette will comple yours for $79.95, plus $7.95 for do shipping. The rebuilding service i disassembly and cleaning, plus all e cal components are checked and r the casting is restored, and the bac front plates are replated. Your pum reassembled and tested with all-ne able components, including correc nozzles. Chicago Corvette Supply Archer Rd., Justice, IL 60458; 800. 872.2446. Mother says you need your fiber New from Moroso are these tall-design, cast-aluminum valve covers for Chevrolet small-block engines featuring a carbon fiber pattern. Applied using water transfer technology, the fiber design is a big hit with resto-mod 'Vette builders. The covers clear most stud girdles and rocker combinations. Each set includes one baffled and one non-baffled PVC grommet. The covers are sold in pairs and include all mounting hardware. Model 68408 Red/Black is shown. Also available are 68406 Gray/Black and 68407 Blue/Black. Matching fiber-design valve cover breathers and racing-style air cleaners are also available. $181.95. Moroso Competition Engineering, 80 Carter Dr., Guilford, CT 06437; 203.453.6571; www.moroso.com. Track tracking tracker If you rally or race a Corvette, keeping track of your performance (and the car's) is vital if you're ever going to improve your times. The Racepak G2X GPS-based data acquisition system tracks lap times and numbers. You can record and review segment times, lateral G forces, speed, rpm, and acceleration Gs. The monitor provides a track mapping function and requires no beacon transmitters. It will accept up to twelve additional plug-n-play sensors from Racepak, as your racing experience progresses. Information about braking, steering, and throttle can also be added through Racepak's V-Net technology. When you pull in (hopefully as a winner), you simply remove the compact flash card from the G2X and download the information to your computer. Racepak's Datalink software is easy to navigate. Once you have created a track map, you'll have it to use at other events. The 600-KT-G2XRND retails for $699. MSD Ignition, 1490 Henry Brennan Dr., El Paso, TX 79936; 915.857.5200; www.msdignition.com. 76 Corvette Market WINTER 2009 www.vettemarket.com


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Subscribe Today! One Year Corvette Market (4 issues), plus bi-weekly Corvette Insider's email newsletter, $29.95. Subscribe online at www.vettemarket.com or call 1.800.810.7457 THOMAS C. SUNDAY, Inc AUTOMOBILE TRANSPORTATION One Site — One Price. REAL VALUES IN REAL TIME NOW ONLINE! The world's largest collector car price guide based on over 550,000 sold transactions from . Updated weekly. www.ebaymotors.com/pricetracker For the collector who needs to know what things are selling for, right now. Take a free test drive on a the featured car of the week. 24-hour memberships from just $3.99. • Weekly coast-to-coast service, including the Pacific Northwest • Competitive rates • Fully enclosed trailers • Liftgate loading • Door-t0-door service • Courteous, personalized service • Fully insured & bonded (ICCMC 184043) • Special needs welcomed 800-541-6601 www.thomascsundayinc.com P.O. Box 217, New Kingstown, PA 17072 (717) 697-0939 Fax: (717) 697-0727


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By the Numbers Top 100 Corvette Sales, November to February Generation C1 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 C2 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 1 1963 Corvette Z06 Yenko ”Gulf One” Race Car 7 1967 Corvette 427/430 Convertible 9 1963 Corvette 327/360 FI Coupe 10 1967 Corvette LS7 Custom Coupe 11 1967 Corvette 427/390 Convertible 14 1967 Corvette 427/400 Coupe 15 1967 Corvette 427/435 Convertible 16 1966 Corvette 427/390 Convertible 18 1963 Corvette 327/360 FI Coupe 19 1967 Corvette 427/435 Convertible 21 1966 Corvette 427/425 Coupe 23 1967 Corvette 427/390 Coupe 22 1967 Corvette 427/435 Coupe 24 1967 Corvette 427/435 Convertible 25 1967 Corvette 427/400 Convertible 29 1963 Corvette 327/360 FI Coupe 30 1965 Corvette 396/425 Convertible 78 Corvette Market WINTER 2009 www.vettemarket.com $1,113,000 Mecum, Kissimmee, FL $176,000 Barrett-Jackson, Scottsdale, AZ $165,000 Barrett-Jackson, Scottsdale, AZ $165,000 Barrett-Jackson, Scottsdale, AZ $154,000 Barrett-Jackson, Scottsdale, AZ $145,200 Barrett-Jackson, Scottsdale, AZ $143,000 Barrett-Jackson, Scottsdale, AZ $139,700 Barrett-Jackson, Scottsdale, AZ $137,500 Barrett-Jackson, Scottsdale, AZ $137,500 Gooding, Scottsdale, AZ $132,500 Mecum, Kissimmee, FL $132,000 Barrett-Jackson, Scottsdale, AZ $132,000 Gooding, Scottsdale, AZ $121,000 Russo and Steele, Scottsdale, AZ $119,250 Mecum, Kissimmee, FL $115,500 Barrett-Jackson, Scottsdale, AZ $114,400 Russo and Steele, Scottsdale, AZ S110 1247 1260.1 1318 1337 1261.1 1327 1338 1263.1 5 F156 1249.1 57 F533 S153 973.1 S683 1/25/09 1/19/09 1/19/09 1/19/09 1/19/09 1/19/09 1/19/09 1/19/09 1/19/09 1/17/09 1/25/09 1/19/09 1/17/09 1/18/09 1/25/09 1/19/09 1/18/09 Rank by Overall Rank Model 4 1957 Corvette 283/283 FI Convertible 5 1959 Corvette 283/245 Convertible 13 1962 Corvette 327/360 FI Convertible 17 1958 Corvette LS2 Custom Convertible 20 1958 Corvette 283/290 FI Convertible 26 1959 Corvette 283/270 Convertible 34 1957 Corvette 283/250 FI Convertible 35 1961 Corvette 283/270 Convertible 43 1957 Corvette 283/283 FI Convertible 44 1957 Corvette 283/270 Convertible 48 1962 Corvette 330/300 Custom Convertible 50 1957 Corvette 283/283 FI Convertible 56 1962 Corvette 327/360 FI Convertible 61 1958 Corvette 283/245 Convertible 62 1954 Corvette Roadster 63 1960 Corvette 283/270 Convertible 64 1954 Corvette Roadster 65 1961 Corvette 283/270 Convertible 66 1962 Corvette 327/300 Convertible 68 1956 Corvette 265/240 Convertible 71 1954 Corvette Roadster 75 1957 Corvette 283/283 FI Convertible 78 1956 Corvette LS1 Custom Convertible 79 1960 Corvette 283/230 Convertible 81 1957 Corvette FI Convertible 82 1962 Corvette 327/360 FI Convertible 84 1957 Corvette 283/220 Convertible 85 1961 Corvette 283/270 Convertible 95 1962 Corvette 327/300 Convertible 96 1960 Corvette 350/350 Custom Convertible 99 1962 Corvette 327/340 Convertible 100 1956 Corvette 350/370 Convertible Sold Price Location $265,000 Mecum, Kissimmee, FL $220,000 Barrett-Jackson, Scottsdale, AZ $148,500 Barrett-Jackson, Scottsdale, AZ $137,500 Barrett-Jackson, Scottsdale, AZ $134,200 Barrett-Jackson, Scottsdale, AZ $117,700 Barrett-Jackson, Scottsdale, AZ $110,000 Barrett-Jackson, Scottsdale, AZ $110,000 Barrett-Jackson, Scottsdale, AZ $108,650 Mecum, Kissimmee, FL $107,800 Barrett-Jackson, Scottsdale, AZ $104,500 Barrett-Jackson, Scottsdale, AZ $103,400 Barrett-Jackson, Scottsdale, AZ $98,450 Russo and Steele, Scottsdale, AZ $93,500 Barrett-Jackson, Scottsdale, AZ $92,400 Worldwide, Hilton Head, SC $90,200 Barrett-Jackson, Scottsdale, AZ $88,000 Barrett-Jackson, Scottsdale, AZ $88,000 Barrett-Jackson, Scottsdale, AZ $88,000 Barrett-Jackson, Scottsdale, AZ $85,800 Barrett-Jackson, Scottsdale, AZ $84,800 Mecum, Kissimmee, FL $82,500 Russo and Steele, Scottsdale, AZ $81,400 Barrett-Jackson, Scottsdale, AZ $81,400 Barrett-Jackson, Scottsdale, AZ $80,300 RM, Ft. Lauderdale, FL $80,300 Barrett-Jackson, Scottsdale, AZ $79,560 Bonhams & Butterfields, Los Angeles, CA $79,500 Mecum, Kissimmee, FL $72,600 Barrett-Jackson, Scottsdale, AZ $71,500 Barrett-Jackson, Scottsdale, AZ $71,020 Mecum, Kissimmee, FL $69,660 Leake, Dallas, TX Date S138 1019 1012 1255.1 1246 1279 1263 1248.1 S98 957.1 1342 1257.1 F540 998 45 980 1349.1 1001.1 989 986 S123 S723 1245.1 1040 SP86 1352.2 331 S121 983 1231.1 S94 506 Lot # 1/25/09 1/19/09 1/19/09 1/19/09 1/19/09 1/19/09 1/19/09 1/19/09 1/25/09 1/19/09 1/19/09 1/19/09 1/18/09 1/19/09 11/1/08 1/19/09 1/19/09 1/19/09 1/19/09 1/19/09 1/25/09 1/18/09 1/19/09 1/19/09 2/8/09 1/19/09 10/25/08 1/25/09 1/19/09 1/19/09 1/25/09 11/23/08


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Generation 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 C3 1 2 C4 1 2 3 4 5 6 7 8 9 10 11 12 C5 1 2 3 4 C6 1 2 3 4 28 2006 Corvette Z06 Coupe ”First Built” 49 2008 Corvette Custom Coupe 52 2009 Corvette ZR-1 Coupe 60 2009 Corvette ZR-1 Coupe $117,700 Barrett-Jackson, Scottsdale, AZ $104,500 Barrett-Jackson, Scottsdale, AZ $101,750 Barrett-Jackson, Scottsdale, AZ $94,600 Barrett-Jackson, Scottsdale, AZ 1344.1 1320 1332 1021 1/19/09 1/19/09 1/19/09 1/19/09 www.vettemarket.com WINTER 2009 Corvette Market 79 32 1997 Corvette Tiger Shark Custom 41 1998 Corvette Convertible ”1st Built” 42 2004 Corvette Indy Pace Coupe 53 1999 Corvette 1962 Convertible Replica (CRC) $112,200 Barrett-Jackson, Scottsdale, AZ $110,000 Barrett-Jackson, Scottsdale, AZ $110,000 Barrett-Jackson, Scottsdale, AZ $101,200 Barrett-Jackson, Scottsdale, AZ 1601 1301 1616 1353.2 1/19/09 1/19/09 1/19/09 1/19/09 3 1989 Corvette DR-1 Convertible 6 1989 Corvette ZR-1 Coupe 8 1989 Corvette ZR-1 Coupe ”Snake Skinner” 12 1990 Corvette Active ZR-1 Coupe Prototype 39 1989 Corvette ZR-1 Coupe 40 1991 Corvette Convertible 51 1990 Corvette ZR-1 Coupe 59 1993 Corvette ZR-1 Coupe 77 1992 Corvette ZR-1 Coupe ”First Built” 93 1989 Corvette ZR-1 Coupe ”Snake Skinner II” 97 1989 Corvette Splash Custom 98 1989 Corvette ZR-2 ”Big Doggie” $286,000 Barrett-Jackson, Scottsdale, AZ $198,000 Barrett-Jackson, Scottsdale, AZ $176,000 Barrett-Jackson, Scottsdale, AZ $150,700 Barrett-Jackson, Scottsdale, AZ $110,000 Barrett-Jackson, Scottsdale, AZ $110,000 Barrett-Jackson, Scottsdale, AZ $101,750 Barrett-Jackson, Scottsdale, AZ $94,600 Barrett-Jackson, Scottsdale, AZ $82,500 Barrett-Jackson, Scottsdale, AZ $73,700 Barrett-Jackson, Scottsdale, AZ $71,500 Barrett-Jackson, Scottsdale, AZ $71,500 Barrett-Jackson, Scottsdale, AZ 1218 1230.4 396.1 82 96 907.2 1332.1 1021.1 1344.2 1302 1599 97 1/19/09 1/19/09 1/19/09 1/19/09 1/19/09 1/19/09 1/19/09 1/19/09 1/19/09 1/19/09 1/19/09 1/19/09 2 1969 Corvette 427/430 L88 Convertible 27 1968 Corvette 427/435 L89 Convertible $323,300 Mecum, Kissimmee, FL $117,700 Russo and Steele, Scottsdale, AZ S142 TH316 1/25/09 1/18/09 Rank by Overall Rank Model 31 1967 Corvette 427/435 Coupe 33 1967 Corvette 327 Convertible 36 1963 Corvette FI Coupe 37 1965 Corvette 327/365 Coupe 38 1967 Corvette 327/350 Convertible 45 1967 Corvette 327/350 Coupe 46 1966 Corvette 427/390 Coupe 47 1963 Corvette 327/360 FI Convertible 54 1967 Corvette 327/300 Convertible 55 1967 Corvette 327/350 Convertible 57 1967 Corvette LS2 Custom Convertible 58 1967 Corvette Coupe 67 1967 Corvette 427/400 Convertible 69 1963 Corvette 327/360 FI Coupe 70 1967 Corvette 327/300 72 1963 Corvette 327/360 FI Coupe 73 1966 Corvette 427/390 Coupe 74 1966 Corvette 427/425 Convertible 76 1966 Corvette 327/300 Convertible 80 1966 Corvette 427 Coupe 83 1967 Corvette 327/300 Convertible 86 1963 Corvette 327/300 Convertible 87 1966 Corvette 427/390 Convertible 88 1966 Corvette 427/390 Coupe 89 1967 Corvette 427/435 Convertible 90 1966 Corvette 427/500 Convertible 91 1967 Corvette 427/435 Coupe 92 1965 Corvette 383/525 Custom Coupe 94 1967 Corvette 427/400 Convertible Sold Price Location $112,200 Barrett-Jackson, Scottsdale, AZ $110,250 McCormick, Palm Springs, CA $110,000 RM, Ft. Lauderdale, FL $110,000 Barrett-Jackson, Scottsdale, AZ $110,000 Barrett-Jackson, Scottsdale, AZ $107,800 Barrett-Jackson, Scottsdale, AZ $106,000 Mecum, Kissimmee, FL $105,600 Barrett-Jackson, Scottsdale, AZ $99,000 Barrett-Jackson, Scottsdale, AZ $99,000 Barrett-Jackson, Scottsdale, AZ $97,350 Russo and Steele, Scottsdale, AZ $96,800 RM, Ft. Lauderdale, FL $86,900 Russo and Steele, Scottsdale, AZ $85,800 Russo and Steele, Scottsdale, AZ $85,000 Russo and Steele, Scottsdale, AZ $84,700 Russo and Steele, Scottsdale, AZ $84,700 Barrett-Jackson, Scottsdale, AZ $83,210 Mecum, Kissimmee, FL $82,500 Barrett-Jackson, Scottsdale, AZ $81,400 Russo and Steele, Scottsdale, AZ $80,300 Barrett-Jackson, Scottsdale, AZ $79,200 Barrett-Jackson, Scottsdale, AZ $79,200 Barrett-Jackson, Scottsdale, AZ $79,200 Barrett-Jackson, Scottsdale, AZ $78,531 RM, Toronto, CAN $77,000 Barrett-Jackson, Scottsdale, AZ $74,800 Russo and Steele, Scottsdale, AZ $73,700 Barrett-Jackson, Scottsdale, AZ $72,975 Mecum, Kansas City, MO Date 1027 386 SP28 1262.1 935.2 999 S66 1248.2 987 1352 F536 SP31 SN872 F538 S746 F507 1244 S137 975 S674 1007 1353 1036 1240 SP121 1233 TH305 946.2 S155.1 Lot # 1/19/09 11/23/08 2/8/09 1/19/09 1/19/09 1/19/09 1/25/09 1/19/09 1/19/09 1/19/09 1/18/09 2/8/09 1/18/09 1/18/09 1/18/09 1/18/09 1/19/09 1/25/09 1/19/09 1/18/09 1/19/09 1/19/09 1/19/09 1/19/09 10/26/08 1/19/09 1/18/09 1/19/09 12/7/08


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Resource Directory Auction Companies Kruse International. 800.968.4444, 5540 CR llA Auburn, IN 46706. Largest Collector Car Auction Company, holding over 35 auctions per year. Home of the 480-acre Auction Park in Auburn, IN, where the 37th Annual Labor Day Auction will be held with over 5,000 cars and 150,000 people. www.kruse.com. (IN) Mecum Collector Car Auctioneers. 815.568.8888, 815.568.6615. 950 Greenlee St., Marengo, IL 60015. Auctions: Orlando, Kansas City, Rockford, Bloomington Gold, St. Paul, Des Moines, Carlisle, and Chicago. Nobody Sells More Muscle Than Mecum. Nobody. www .mecumauction.com. (IL) Russo and Steele Collector Automobiles. 602.252.2697, 602.252.6260. 5230 South 39th Street, Phoenix AZ 85040. info@russoandsteele.com; www .russoandsteele.com. (AZ) Silver Auctions. 800.255.4485, 2020 N. Monroe, Spokane, WA 99205. silver@silverauctions.com. www.silverauctions.com. (WA) The Worldwide Group. 866.273.6394, Established by John Kruse and Rod C. Egan, The Worldwide Group— Auctioneers, Appraisers and Brokers —is one of the world's premier auction houses, specializing in the procurement and sale of the world's finest automobiles and vintage watercraft. www.wwgauctions.com. (TX) Corvette Parts & Restoration County Corvette 610.696.7888, Sales, service, parts and restoration. When it must be right. www.countycorvette.com. (PA) Mid America Motorworks 800.500.1500, America's leader in 1953-2008 Corvette parts and accessories. Request a free catalog at www.mamotorworks.com. (IL) Classic Car Transport Intercity Lines, Inc.. 800.221.3936, 413.436.9422. Rapid, hassle-free, coast-to-coast service. Insured enclosed transport for your valuable car at affordable prices. State-of-the-art satellite Put your company in the CM Resource Directory. Call 877.219.2605 x211, or email advert@vettemarket.com transport tracking. Complete service for vintage races, auctions, relocations. www.intercitylines .com. (MA) Insurance Hagerty Collector Car Insur- ance. 800.922.4050. Collector cars aren't like their late-model counterparts. These classics actually appreciate in value so standard market policies that cost significantly more won't do the job. We'll agree on a fair value and cover you for the full amount. No prorated claims, no hassles, no games. www.hagerty.com. (MI) Corvettes for Sale Corvette Central Parts and accessories for all corvettes. Corvette Central has been a leading manufacturer and distributor of Corvette parts and accessories since 1975. We offer the most comprehensive and detailed parts catalogs on the market today and produce a different catalog for each Corvette generation. All catalogs are also online with full search and order features. From Blue Flame 6 to the new C6, only Corvette Central has it all. www.corvettecentral.com. (MI) County Corvette. 610.696.7888, The most modern and best equipped Corvette-only facility in the nation. www.countycorvette.com. (PA) The Chevy Store At The Chevy Store, you will find only the highest grade, investment quality Corvette and specialty Chevrolet automobiles. We take pride in providing our clients with the finest selection anywhere. Offering investment quality corvettes and Chevrolets for over 30 years! 503-256-5384 (p) 503-256-4767(f) www.thechevystore.com. (OR) Museums National Corvette Museum 800-53-VETTE, The National Corvette Museum in Bowling Green, KY was established as a 501(c)3 not-for-profit foundation with a mission of celebrating the invention of the Corvette and preserving its past, present and future. www.corvettemuseum. com. (KY) ■ Ad Index Baymont Inn & Suites...................... 57 Bloomington Gold .......................... 11 Bob Bondurant School of H.P.D. ... 35 Carlisle Events.................................. 45 Classic Cars Southeast................... 67 Competition Components............ 80 Corvette America........................... 61 Corvette Correction....................... 77 Corvette Expo, Inc.......................... 43 Corvette Repair Inc........................ 47 Corvette Specialties....................... 75 Corvettes Of Dallas......................... 61 Corvettes Of Houston..................... 49 County Corvette............................... 2 Eastern Corvettes............................ 80 Factory Reproductions................... 83 Hagerty Insurance.......................... 37 Intercity Lines ................................... 77 Jim Meyer Racing Products Inc.... 81 Kruse International.......................... 51 Long Island Corvette Supply Inc... 81 Mecum Auction................................ 3 Mid America Motorworks .............. 84 Midwest Corvettes & Classics ....... 81 National Corvette Museum........... 77 National Corvette Restorers Society.............................................. 67 Ronald McDonald House.............. 55 Sign Past Inc.,................................... 69 Silver Auctions.................................. 41 St. Bernard Church ......................... 53 St. Joeseph School Raffle .............. 69 Swissvax............................................ 39 The Chevy Store.............................. 63 The Collector Car Auction............. 59 Thomas C Sunday Inc .................... 77 Trailex Inc.......................................... 69 Vette Collectibles ........................... 65 Worldwide Group ............................. 7 Zip Products ..................................... 65 80 Corvette Market WINTER 2009 www.vettemarket.com


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PFREE subscribe today! rice Guide when you One Year Corvette Market (4 issues), bi-weekly Corvette Insider's email newsletter, and the all new 2009 Pocket Price Guide for just $29.95. Subscribe online at www.vettemarket.com or call 1.800.810.7457


Page 80

Vette-o-bilia by Carl Bomstead T he holidays have passed, and now that the tree has been removed from the front room, a bunch of Hallmark Corvette ornaments have been listed on eBay. It may be a sign of these troubled economic times, with sellers scrambling to cover their financial com- mitments, but it gives buyers a choice of dozens of trinkets. Some 1957 Corvette ornaments I noticed for sale were #1 in the “Classic American Cars” series that was first offered in 1991 at a price of $12.95. Prices ranged between $60 and $80, which was decent enough for a cool ornament. On the other hand, several of the 1997 Corvette ornaments were also offered but they all sold for about five bucks. I guess older is better, once again. EBAY #180318501961— GLENN APPLEMAN CORVETTE CONVERTIBLE COOKIE JAR. Number of Bids: 13. SOLD AT: $900. Date Sold: 1/9/2009. Glenn Appleman started making ceramic automotive cookie jars in 1970 and closed shop in 1987. This late '50s Corvette was signed and dated 1983. It was highly detailed with lots of flashy brightwork and was in excellent condition. Seller offered another that was finished in white and it brought $801 after 12 bids, so in this case Resale Red was worth about a hundred bucks. cover wear and stains but that did not hold back the bidding. When I had a '54, I looked high and low for one of these but to no avail, and I would have gladly paid the price that bought this one. CHEVROLET CORVETTE LICENSE PLATE FRAMES. Number of Bids: 9. SOLD AT: $127.50. Date Sold: 12/25/2008. These metal frames came from the estate of a man who bought a 1958 Corvette at Westlake Chevrolet and removed the frames and stored them away. They appeared to be in excellent condition, with only minor paint loss due to age. I bought my first Chevrolet at Westlake in Seattle, so I'm sorry I missed these when they were offered. Sold: 1/04/2009. This press kit included a 67-page booklet and a CD for the 2009 ZR1. It was offered to accredited media at the 2008 Detroit North American International Auto Show. Seller claimed he had scarfed up a bunch of these to supplement his slave wages as a journalist, and this was the last one he had. Others sold for as much as $450 and as little as $84, so pricing these is not an exact science. Online trash and trinkets—some valuable, some not. By Carl Bomstead. Crunch Time for Cookie Jars Resale Red adds $100, rare ‘53/'54 manual turns up, ZR-1 press kit makes reporter quick $150, cheesy sales ring costly EBAY #120351394593— EBAY #260340121162— EBAY #370137701595— 1953/54 CORVETTE OWNERS' MANUAL. Number of Bids: 19. SOLD AT: $224.04. Date Sold: 1/06/2009. This was published in mid-1953, as the first edition had numerous errors. It was continued for the 1954 models and was the only owners' manual offered. It had some 1965 CORVETTE PLASTIC DEALER PROMO MODEL. Number of Bids: 26. SOLD AT: $749. Date Sold: 1/7/2009. This Silver Pearl plastic promotional model was in excellent condition and was complete with the original box. These are hard to find, so the price paid was not out of line; however, another 1965 promo model sold a few weeks earlier after 17 bids for $561, so the seller did just fine on this one. 1963 CHEVROLET DEALER WALL DISPLAY. Number of Bids: 18. SOLD AT: $272.77. Date Sold: 12/23/2008. This display was from Francis Chevrolet in St. Louis, which closed its doors in the early '70s. The 1/24scale AMT model cars were cut in half, so I'd guess half the displays faced right, the others left. I think the display would have been more impressive with some verbiage, but it is an interesting piece that sold for a fair price. EBAY #300284020873— EBAY #270324216876— EBAY #320326362982— PAIR OF 1958 WESTLAKE 82 Corvette Market WINTER 2009 www.vettemarket.com 2009 CORVETTE ZR1 PRESS KIT. Number of Bids: Buy It Now. SOLD AT: $150. Date CHEVROLET/CORVETTE SALES AWARD RING. Number of Bids: 3. SOLD AT: $599. Date Sold: 1/20/2009. It was not stated when this ring was presented, but it offered lots of bling with the dozen or so diamonds around the Chevrolet Bowtie logo. The ring was 10-kt gold, but reading the fine print of the listing, I find that the diamonds had been added by the seller. Seems like a bunch of money for a tarted-up ring that still requires a far-fetched tale as to how you “won” the sales award ring. ■