Corvette ED

Corvettes are getting stronger every week at the auction.

AORoads

thanks!

bigearl56

Thanks Ed, I used to go to Manheim back in the '70s. Loved to eat the great food served in that area.

Earl

boraxman

Glenn Quagmire

Thanks for the info...good to know!

george vee

thanks for posting
I almost made the mistake of selling my 08 3lt vert, for 34k last October, good thing I kept it.
Looks like its got the HOT color combo.
I think the vettes will hold their value even when the C7 comes out, because they will be asking ridiculous #s for it the first year.

not08crmanymore

Resale red is alive and well in corvette land!!:

Damn.That's a lot of money for an 05!!! There was an 08 auto indy 500 edition with 1000 miles on it that was a 38 grand wholesale piece and is on a lot somewhere for 44 or 45.3LT VERT.

Magilla

Thanks for sharing. It is interesting to see.

R&L's C6

Could the higher prices have anything to do with the last several years of low production numbers?

jimmie jam

Not at all. This is spring time and the dealers are buying inventory, period. The same thing happens every year, sorry.

Gary '09 C6

good info---thx !

JC7

Orange is hot!

ejbrace

Tide Will Roll!

Makes me glad I bought mine last July

Bert

Roll Tide!

LPE385

This is the buying season but yes with production down to 1960's levels it makes a difference. With 6 models being produced production is thin for some cars.

Say you want a 2009 6 speed Conv, Crystal Red with No Z51 and Two Tone interior. They only built 645 Crystal Red Conv's, then they only built 309 Conv. with the MM6 6 speed, then they only built 181? or so with Two Tone Interior. Now this breaks down to less then 15 cars could've been built.

All of production for cars with options, 3LT, 4LT, Suspension Options, 6 speeds, etc. were all very low production cars. So when people get specific over what they want it becomes very difficult to find a lot cars.

This inturn drives the market up, also due to the fact that todays new cars are so expensive and majority of production are Grand Sports. Those cars with options are $65,000 plus for Coupes or $70,000 up to $78,000 for a loaded Convertible.

I'm not saying low production is the sole reason but it doesn't help it.

Corvette ED

Here is what else I have found. With the low production the last couple of years most of the regular body coupes are 1LT's. They are hard to sell because current Corvette owners who want to trade up don't want to buy a car with less equippment than their current car has. So the 3LT cars are in high demand. Some of my other Corvette dealer friends will not buy a 1LT car for their lot. They say that the car will sit and takes a long time to sell.

jaki30

be the result of the recent "sneak" pics of the C7?
Maybe the C7 preview is scaring a lot of people into jumping on a known entity rather than wait for the 'newer' version.

VET4LES

Thanks for the information.

Corvette ED

Here is what drives the pricing market. New Corvettes Coupes/Convs are $55,000 to $75,000 now take the discounts and rebates so now your looking at $42,000-$65,000 becuse of those numbers it makes the used market increase becuase of the spread between new and used. Also many C5 owners are now upgrading to used C6's Take a person who owns a 2003 Corvette convertible with say 35,000 miles on it. For $15 to $20K they can trade up to a 07-08 C6 convertible. For them to buy a new one the pay out would be $35-$40K and their car. Not everybody can buy a new one so a more affordable pay out make the used car a good buy.

Most dealers who I know who sell used Corvettes say with the warm temps here in the east the Corvette selling season has started early and cars are selling. I sold four used Corvettes this past week so I am out with other dealers who are selling battling to buy cars.

LPE385

Also to add to that not that many dealers offer some of the crazy discounts that they do here on the Forum. Most dealers don't even like to sell at invoice. With most people upside down in their trade in the dealer can't afford to give away the Corvette and then try to make up the upside down factor in the trade in. I can't tell you how many people do not look at the difference in money or what their buying. They concentrate so hard on what they "think" they should get for their trade that they loose sight of the deal thats right in front of them. I've watched people buy a 1 year older car with 10,000 more miles, thousands less options, for the difference of $2,000 because the dealer with the lessor unit showed them more for their trade.

The market is not going to get any better any time soon. The C7 has nothing to do with the current market. As a matter of fact anytime a new body style car comes out most of the dealers want MSRP for the first several months. Not to mention, no rebates on C7's, no 0%, etc.

Its supply and demand all the way.