This auction report will make some of you happy
06-24-2010, 04:48 PM
#1
Melting Slicks
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This auction report will make some of you happy
http://www.insideline.com/chevrolet/...r-auction.html
Just the Facts:
1969 Chevrolet Corvette L88 was the top seller at the RM Auctions Classic Muscle & Modern Performance event.
The Vette sold for $401,500.
RM Auctions said the event resulted in $6.9 million in sales.
SAN DIEGO, California — A 1969 Chevrolet Corvette L88 was the top seller at the RM Auctions Classic Muscle & Modern Performance event here, bringing in $401,500. Other Corvettes crossing the auction block also brought in "strong prices," said the auction house, noting that a 1969 Chevrolet Corvette 427/435 convertible fetched $231,000.
A 1967 Chevrolet Corvette 427/435 roadster brought in $214,500. "Late-model BMWs and Mercedes-Benz also enjoyed a strong performance," said the auction house in a statement.
RM Auctions said the event resulted in $6.9 million in sales, an "encouraging" sign as the U.S. continues to shake off a brutal recession.
The 100-unit muscle-car auction was top-heavy with Pontiacs. But the results for some of those muscle cars were not as impressive as the performance of the Corvettes. One 1969 Pontiac GTO Judge at the muscle-car auction brought in $84,700, while another 1969 Pontiac GTO Judge fetched $71,500.
Inside Line says: The take-away from this muscle-car auction appears to be that you can't go wrong sinking your money into a Corvette. — Anita Lienert, Correspondent
Just the Facts:
1969 Chevrolet Corvette L88 was the top seller at the RM Auctions Classic Muscle & Modern Performance event.
The Vette sold for $401,500.
RM Auctions said the event resulted in $6.9 million in sales.
SAN DIEGO, California — A 1969 Chevrolet Corvette L88 was the top seller at the RM Auctions Classic Muscle & Modern Performance event here, bringing in $401,500. Other Corvettes crossing the auction block also brought in "strong prices," said the auction house, noting that a 1969 Chevrolet Corvette 427/435 convertible fetched $231,000.
A 1967 Chevrolet Corvette 427/435 roadster brought in $214,500. "Late-model BMWs and Mercedes-Benz also enjoyed a strong performance," said the auction house in a statement.
RM Auctions said the event resulted in $6.9 million in sales, an "encouraging" sign as the U.S. continues to shake off a brutal recession.
The 100-unit muscle-car auction was top-heavy with Pontiacs. But the results for some of those muscle cars were not as impressive as the performance of the Corvettes. One 1969 Pontiac GTO Judge at the muscle-car auction brought in $84,700, while another 1969 Pontiac GTO Judge fetched $71,500.
Inside Line says: The take-away from this muscle-car auction appears to be that you can't go wrong sinking your money into a Corvette. — Anita Lienert, Correspondent
06-24-2010, 06:44 PM
#2
Melting Slicks
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Saw an auction report in the Corvette Enthusiast that I just received yesterday. The C3s did well IMHO. They are slowly turning the corner, but I don't think they will ever be in the demand of the C1 and C2s. Nevertheless, I was glad to see that they did as well as they did.
06-24-2010, 08:11 PM
#3
Without knowing the particulars on this car, I just checked the NADA website. Assuming a 1969 Corvette 427/435 L89 4 spd side exhaust both tops convertible, they put a high retail value of $118,400 on it. I guess NADA is not always on the high side...........
06-24-2010, 09:50 PM
#4
Melting Slicks
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06-25-2010, 08:07 AM
#5
Race Director
Saw an auction report in the Corvette Enthusiast that I just received yesterday. The C3s did well IMHO. They are slowly turning the corner, but I don't think they will ever be in the demand of the C1 and C2s. Nevertheless, I was glad to see that they did as well as they did.
C1 & C2's will lead the way, but they'll pull the C3's (especially chrome bumpers) up with them. If you can't afford a mid-year, the next best thing is a bumper car.
06-25-2010, 11:45 AM
#6
TheCorvetteBen
http://www.insideline.com/chevrolet/...r-auction.html
Just the Facts:
1969 Chevrolet Corvette L88 was the top seller at the RM Auctions Classic Muscle & Modern Performance event.
The Vette sold for $401,500.
RM Auctions said the event resulted in $6.9 million in sales.
SAN DIEGO, California — A 1969 Chevrolet Corvette L88 was the top seller at the RM Auctions Classic Muscle & Modern Performance event here, bringing in $401,500. Other Corvettes crossing the auction block also brought in "strong prices," said the auction house, noting that a 1969 Chevrolet Corvette 427/435 convertible fetched $231,000.
A 1967 Chevrolet Corvette 427/435 roadster brought in $214,500. "Late-model BMWs and Mercedes-Benz also enjoyed a strong performance," said the auction house in a statement.
RM Auctions said the event resulted in $6.9 million in sales, an "encouraging" sign as the U.S. continues to shake off a brutal recession.
The 100-unit muscle-car auction was top-heavy with Pontiacs. But the results for some of those muscle cars were not as impressive as the performance of the Corvettes. One 1969 Pontiac GTO Judge at the muscle-car auction brought in $84,700, while another 1969 Pontiac GTO Judge fetched $71,500.
Inside Line says: The take-away from this muscle-car auction appears to be that you can't go wrong sinking your money into a Corvette. — Anita Lienert, Correspondent
Just the Facts:
1969 Chevrolet Corvette L88 was the top seller at the RM Auctions Classic Muscle & Modern Performance event.
The Vette sold for $401,500.
RM Auctions said the event resulted in $6.9 million in sales.
SAN DIEGO, California — A 1969 Chevrolet Corvette L88 was the top seller at the RM Auctions Classic Muscle & Modern Performance event here, bringing in $401,500. Other Corvettes crossing the auction block also brought in "strong prices," said the auction house, noting that a 1969 Chevrolet Corvette 427/435 convertible fetched $231,000.
A 1967 Chevrolet Corvette 427/435 roadster brought in $214,500. "Late-model BMWs and Mercedes-Benz also enjoyed a strong performance," said the auction house in a statement.
RM Auctions said the event resulted in $6.9 million in sales, an "encouraging" sign as the U.S. continues to shake off a brutal recession.
The 100-unit muscle-car auction was top-heavy with Pontiacs. But the results for some of those muscle cars were not as impressive as the performance of the Corvettes. One 1969 Pontiac GTO Judge at the muscle-car auction brought in $84,700, while another 1969 Pontiac GTO Judge fetched $71,500.
Inside Line says: The take-away from this muscle-car auction appears to be that you can't go wrong sinking your money into a Corvette. — Anita Lienert, Correspondent
Economic recession?...You sure??
06-25-2010, 11:54 AM
#7
They take in consideration it is a stock average driven vehicle. They DON'T take into account the 200 plus grand the restorer charged the customer to make it look like new so it could bring the high price.
Many people think just because RM of BJ get these high prices their collection of parts is a million dollar car. Remember... it is apples to apples.
06-25-2010, 12:17 PM
#8
Le Mans Master
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What some ultra rare Corvette goes for at RM or Barrett-Jackson has little to no relationship to what more typical Corvettes are going to sell for in the regular market place.
06-25-2010, 01:03 PM
#9
Fast Rat;
They take in consideration it is a stock average driven vehicle. They DON'T take into account the 200 plus grand the restorer charged the customer to make it look like new so it could bring the high price.
Many people think just because RM of BJ get these high prices their collection of parts is a million dollar car. Remember... it is apples to apples.
They take in consideration it is a stock average driven vehicle. They DON'T take into account the 200 plus grand the restorer charged the customer to make it look like new so it could bring the high price.
Many people think just because RM of BJ get these high prices their collection of parts is a million dollar car. Remember... it is apples to apples.
I looked into it further. The 427/435 car is an L71 two top recently certified Bloominton Gold Survivor with only a few thousand miles, all original except for the canvas top. Definitely a museum piece / trailer queen. Just goes to show you the premium that the wealthy are willing to pay.
07-01-2010, 07:06 PM
#10
Melting Slicks
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07-01-2010, 10:33 PM
#15
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07-02-2010, 01:29 PM
#16
I wouldn't necessarily call somebody with $400K to invest in a vette a fool. What they are is rich and how they got it is anybody's guess, but foolish doesn't come to mind. There are only a few real L88s in the world and one helluva lot of people who want one, at least for now. Collecting anything is a gamble but so is the stock market. Time will tell.
07-02-2010, 01:32 PM
#17
07-02-2010, 07:10 PM
#18
Racer
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It's all about production numbers and what's under the hood. Big blocks and LT-1's (especially with A/C) are predicted to be the next ones to jump in value. But the ones who are getting rich quick are carnival barkers like Jackson (of Barrett Jackson). 
Those of us who remember these cars as cheap fun and a cool hobby, can only shake our heads in disgust over the direction its taken.... Guys in middle aged crisis, with an inheritance burning a hole in their pocket, who can't fit in the car!
Those of us who remember these cars as cheap fun and a cool hobby, can only shake our heads in disgust over the direction its taken.... Guys in middle aged crisis, with an inheritance burning a hole in their pocket, who can't fit in the car!
07-02-2010, 08:14 PM
#19
Back in the late 60s we looked at muscle cars as just a way to get from here to there quicker. We assumed they would go down in value, probably more than any other car because we beat the snot out of them. It never occured to us that it would all come to a screeching halt and these cars would actually become more valuable over time.
Why get disgusted with others because these ultra rare cars are going up so much in value? There are only so many to go around and rich guys will always be able to buy the best...whether it be collector cars or whatever...even with a 60 inch waist. So what else is new. I'm only blaming myself for not buying one new back then and paying $1,032.15 for that L88 option...and have the smarts to keep it.
Why get disgusted with others because these ultra rare cars are going up so much in value? There are only so many to go around and rich guys will always be able to buy the best...whether it be collector cars or whatever...even with a 60 inch waist. So what else is new. I'm only blaming myself for not buying one new back then and paying $1,032.15 for that L88 option...and have the smarts to keep it.
07-03-2010, 01:10 AM
#20
Burning Brakes
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Yeah some options pay off especially in limited production like the Grand Sports. I'm not sure what the extra cost was, but I'd love to have one of the 1000 Charger Daytonas in sublime for a family car eventually...hey it's a sedan.
