C5 market value?
Burning Brakes
Joined: Oct 2006
Posts: 1,103
Likes: 472
From: Newark Delaware
Which takes us full circle to my original point...without hard data to show me otherwise, I'm of the opinion/camp that convertible C5s do not fetch higher prices because the majority of buyers in the market for a C5 today are not interested in a convertible...less buyers = less demand = ...you know that old thing 
Does anybody have access to hard data that proves C5 convertibles are consistently sold for more than their targa/FRC counterparts today? Or are we all just discussing our opinions/beliefs? haha
I'm not opposed to changing my mind and I'm certainly not trying to be a jerk, but without actual data to prove either "side" is correct, we're just split into 2 camps of opinion as I fairly stated up front
Does anybody have access to hard data that proves C5 convertibles are consistently sold for more than their targa/FRC counterparts today? Or are we all just discussing our opinions/beliefs? haha
I'm not opposed to changing my mind and I'm certainly not trying to be a jerk, but without actual data to prove either "side" is correct, we're just split into 2 camps of opinion as I fairly stated up front
Well, there are organizations that closely track that sort of thing, which is how they value vehicles for sale and trade. Here is from KBB, a 1999 C5 Corvette, 85K miles, standard equipment, Very Good condition, dark red (Magnetic Red)
Private party value range
Coupe $7,537 - $10,416
Convertible $9,815 - $13,493
2002, 75K miles, standard equipment, Very Good condition, white
Coupe $11,166 - $13,947
Convertible $11,812 - $14,759
Only two examples, I know, but it is consistent with the common wisdom that convertible usually run a little more than coupes. Anyone else wanting to beat this thread to death can run more examples. There are exceptions, of course - the C2s, for example.
Also, "the majority of buyers in the market for a C5 today are not interested in a convertible" misunderstands the market. You are lumping all potential C5 buyers into one category, but there really are multiple categories:
1. Those who are interested only in a coupe
2. Those who prefer a coupe but have not ruled out a convertible
3. Those who are interested in either
4. Those who prefer a convertible but have not ruled out a coupe
5. Those who are interested only in a convertible
Yes, you could break these down even further with different gradations of preference (and could add in categories for Z06 and/or FRC), but these basic categories will serve for the purpose of this example. Also remember that there were more coupes made than convertibles, so convertible prices are driven up by the scarcity. Also, if there are fewer convertible buyers than coupe buyers (which is another assumption, probably accurate but based on anecdotal evidence only) bear in mind that the universe of available convertibles is also smaller. I wouldn't say you are comparing apples to oranges, but maybe Granny Smiths to Galas.
Another common assumption, again probably correct but not proven, is that C5 convertible buyers tend to be older than coupe buyers. If so, it is not surprising that older buyers with more disposable income are buying a non-daily driver/fun car and are willing to pay more, another factor driving up the prices.
Convertibles do cost more. But are they worth more? There is no one answer to that. I'd like to conduct an experiment where I go out and buy several of each style . . . but the Executive VP of Operations (my wife) probably would disapprove the budgeting request.
Race Director
Joined: Jan 2000
Posts: 10,357
Likes: 3,381
From: Central TX
C5 of Year Finalist (appearance mods) 2019
I hear you, Clint. I see cheap coupes all the time as well. I also see cheap and overpriced listings of the whole variety. I'm in Southern California, land of year round sunshine, and I rarely see convertible C5 listings and very rarely see them on the road. I do see coupes and FRCs occasionally.
That's a fair question and touches on one of the points in my earlier posts haha. I'm 38. Most of the car enthusiasts in my generation and the younger generations aren't really into convertible "performance/sports cars" (with a few exceptions) and I believe "we" are most of the buyer pool for C5s now. That's exactly why I mentioned earlier that, with all respect, most of the C5 convertible owners are mostly of the older generation(s).
We're all friends here, I'm not mad at anybody haha, and we do all love C5s or we wouldn't be here As much as we have fun or throw out some jokes from time to time, I personally truly appreciate the history and longtime active members of this forum. This is one of the most valuable forums I have ever been part of. There is a smorgasbord of information available here from the past 2 decades. It really is impressive.
That's a fair question and touches on one of the points in my earlier posts haha. I'm 38. Most of the car enthusiasts in my generation and the younger generations aren't really into convertible "performance/sports cars" (with a few exceptions) and I believe "we" are most of the buyer pool for C5s now. That's exactly why I mentioned earlier that, with all respect, most of the C5 convertible owners are mostly of the older generation(s).
We're all friends here, I'm not mad at anybody haha, and we do all love C5s or we wouldn't be here
As much as we have fun or throw out some jokes from time to time, I personally truly appreciate the history and longtime active members of this forum. This is one of the most valuable forums I have ever been part of. There is a smorgasbord of information available here from the past 2 decades. It really is impressive.
Melting Slicks
Joined: Nov 2017
Posts: 2,306
Likes: 747
Well, there are organizations that closely track that sort of thing, which is how they value vehicles for sale and trade. Here is from KBB, a 1999 C5 Corvette, 85K miles, standard equipment, Very Good condition, dark red (Magnetic Red)
Private party value range
Coupe $7,537 - $10,416
Convertible $9,815 - $13,493
2002, 75K miles, standard equipment, Very Good condition, white
Coupe $11,166 - $13,947
Convertible $11,812 - $14,759
Only two examples, I know, but it is consistent with the common wisdom that convertible usually run a little more than coupes. Anyone else wanting to beat this thread to death can run more examples. There are exceptions, of course - the C2s, for example.
Also, "the majority of buyers in the market for a C5 today are not interested in a convertible" misunderstands the market. You are lumping all potential C5 buyers into one category, but there really are multiple categories:
1. Those who are interested only in a coupe
2. Those who prefer a coupe but have not ruled out a convertible
3. Those who are interested in either
4. Those who prefer a convertible but have not ruled out a coupe
5. Those who are interested only in a convertible
Yes, you could break these down even further with different gradations of preference (and could add in categories for Z06 and/or FRC), but these basic categories will serve for the purpose of this example. Also remember that there were more coupes made than convertibles, so convertible prices are driven up by the scarcity. Also, if there are fewer convertible buyers than coupe buyers (which is another assumption, probably accurate but based on anecdotal evidence only) bear in mind that the universe of available convertibles is also smaller. I wouldn't say you are comparing apples to oranges, but maybe Granny Smiths to Galas.
Another common assumption, again probably correct but not proven, is that C5 convertible buyers tend to be older than coupe buyers. If so, it is not surprising that older buyers with more disposable income are buying a non-daily driver/fun car and are willing to pay more, another factor driving up the prices.
Convertibles do cost more. But are they worth more? There is no one answer to that.
Instructor
Joined: Dec 2020
Posts: 120
Likes: 52
From: Ankeny, Iowa
Value? It's only worth what someone else will give you for it!
From bone stock to highly modified, it makes no difference if someone else won't pay for it.
From my experience the old saying stays true of "When the top goes down, the price goes up"!
From my experience the old saying stays true of "When the top goes down, the price goes up"!
