Perspective. The History of Corvette Prices, in 2010 Dollars.
03-10-2010, 08:07 AM
#21
Team Owner
Member Since: Jun 2005
Location: Northern, VA
Posts: 46,100
Received 2,478 Likes
on
1,941 Posts
St. Jude Donor '15
"In honor of jpee"
There is at least one other "stat" to look at, in the time of these prices for their years: minimum wage.
Back in '63 the minimum wage went up to a whopping $1.25/hour or on a normal 2080 hrs/year, an annual salary of $2600. Using the base Corvette figure, $4252 divided by $2600 makes the cost of a Corvette in '63 and '64 about 1.6 times the minimum wage.
In '80, when it went to $3.10/hr., the car had jumped to about 2 times the minimum wage.
But now, in 2010 with min. wages at $7.25/hr. which is $15,100/yr., the Corvette at $49K is 3.3 times min. wage.
All this change in costs can be attributed to technology, safety, marketing, profit (there is some
), pollution controls, etc. but it does illustrate that the ratio has changed, and it is significant.
Back in '63 the minimum wage went up to a whopping $1.25/hour or on a normal 2080 hrs/year, an annual salary of $2600. Using the base Corvette figure, $4252 divided by $2600 makes the cost of a Corvette in '63 and '64 about 1.6 times the minimum wage.
In '80, when it went to $3.10/hr., the car had jumped to about 2 times the minimum wage.
But now, in 2010 with min. wages at $7.25/hr. which is $15,100/yr., the Corvette at $49K is 3.3 times min. wage.
All this change in costs can be attributed to technology, safety, marketing, profit (there is some
), pollution controls, etc. but it does illustrate that the ratio has changed, and it is significant.
03-10-2010, 08:45 AM
#23
Melting Slicks
Interesting... used the CPI Calculator... besides the C6 I own a 1990 ZR-1 (#566):
For my ZR-1 it had a sticker price of $60,590 and using the calculator that is $100,452 in 2010 bucks.
The fellow who bought the car new (November, 1989) paid out the door $74,978 which is $124,306 in today's bucks
In the listings you did should include from 1990 to 1995 the ZR-1 as a separate model just like the Z06 is to the base model in later years.
Michael
For my ZR-1 it had a sticker price of $60,590 and using the calculator that is $100,452 in 2010 bucks.
The fellow who bought the car new (November, 1989) paid out the door $74,978 which is $124,306 in today's bucks
In the listings you did should include from 1990 to 1995 the ZR-1 as a separate model just like the Z06 is to the base model in later years.
Michael
03-10-2010, 08:54 AM
#24
Safety Car
Member Since: Sep 2008
Location: Allen Park MI
Posts: 4,408
Likes: 0
Received 0 Likes
on
0 Posts
calmtgguy, thanks for putting that together. 
It's very interesting how comparative prices really jumped in the late 80's and then very slowly declined since then.
It's very interesting how comparative prices really jumped in the late 80's and then very slowly declined since then.
03-10-2010, 08:57 AM
#25
Team Owner
While all the above might be correct, it may not be. It may not be due to globalization. It could be that people are choosing to use their money in other ways. In the past two years, people have decided to save more of their income and other earnings. That takes money out of the spending "economy" and puts it elsewhere. As to wages not keeping up with inflation, there hasn't been a lot of "inflation" but people have been spending in the historical past. It's only recently that people have noticed that their incomes, savings and investments either are at risk (loss of actual value, loss of job), or may be at risk (savings could be going down, job could be eliminated, pay increases could be in jeopardy for years).
It's not all bad, but it surely is not all good.
It's not all bad, but it surely is not all good.
Exactly. I still have the means to continue buying Corvettes as I have in the past, but I have a new problem. I'm a few years older and my 401K has not even come close to the projections I made to reach my savings goals. I'll still get there, but GM may suffer as I change priorities.
03-10-2010, 08:58 AM
#26
Safety Car
Member Since: Sep 2008
Location: Allen Park MI
Posts: 4,408
Likes: 0
Received 0 Likes
on
0 Posts
calmtgguy, thanks for putting that together. It's very interesting how comparative prices really jumped in the late 80's and then very slowly declined since then.
I think todays slumping car (Corvettes) sales are simply a result of the economy. People that are out of work or are worried about losing there jobs are not buying. And people that have decent jobs are saving more money and spending less. It certainly isn't the 'dated' C6 design. It's one of the most beautiful cars on the road.
It's very interesting how comparative prices really jumped in the late 80's and then very slowly declined since then.I think todays slumping car (Corvettes) sales are simply a result of the economy. People that are out of work or are worried about losing there jobs are not buying. And people that have decent jobs are saving more money and spending less. It certainly isn't the 'dated' C6 design. It's one of the most beautiful cars on the road.
03-10-2010, 09:30 AM
#27
Le Mans Master
very interesting. thanks Calmtgguy for posting. ahh, memories 
. i bought my first new corvette in 1979. fully loaded it stickered for about $13,000+-. that was a TON of money back then (i also bought a 1979 Seville that stickered for around $16,000 which was CRAZY money for the time). after adjusting for inflation it actually makes my late model $65,000+- corvette seem like a bargain.
considering all aspects of that car, which i kept for 27 years, it was and is "a piece of junk" in comparision to todays C6. i certainly could not buy my primary home (purchased in 1980 and still own today) for anywhere near double+- what i paid for it then - even in this depressed market. i just find it interesting that the same guys that have stated here that the corvette is not worth anywhere near what it costs...still bought one and enjoy it. i bet they don't mention that ditty when they are selling it. well, everything and everybody has a "price". you have to pay to play. that will never change IMO. the debate goes on
. i bought my first new corvette in 1979. fully loaded it stickered for about $13,000+-. that was a TON of money back then (i also bought a 1979 Seville that stickered for around $16,000 which was CRAZY money for the time). after adjusting for inflation it actually makes my late model $65,000+- corvette seem like a bargain. considering all aspects of that car, which i kept for 27 years, it was and is "a piece of junk" in comparision to todays C6. i certainly could not buy my primary home (purchased in 1980 and still own today) for anywhere near double+- what i paid for it then - even in this depressed market. i just find it interesting that the same guys that have stated here that the corvette is not worth anywhere near what it costs...still bought one and enjoy it. i bet they don't mention that ditty when they are selling it. well, everything and everybody has a "price". you have to pay to play. that will never change IMO. the debate goes on
03-10-2010, 12:45 PM
#28
Burning Brakes
Member Since: Feb 2005
Location: Skippack PA
Posts: 906
Likes: 0
Received 0 Likes
on
0 Posts
Exactly. I still have the means to continue buying Corvettes as I have in the past, but I have a new problem. I'm a few years older and my 401K has not even come close to the projections I made to reach my savings goals. I'll still get there, but GM may suffer as I change priorities.
Same here. My company in the last 2 years, a rather very large tech company, has frozen our pensions, stopped all 401K contributions, and we are coming up on our 2nd year of no pay raises. So, given that a new C6 will cost me over $4000 more today to replace my 2007 C6, and I am not taking in more money than I did 2 years ago, I'll be holding onto my money a little longer. I don't even like to look at my 401K, but at least I have a lot of years to make it back up (hopefully).
03-10-2010, 01:23 PM
#29
Le Mans Master
Thread Starter
Member Since: Feb 2008
Location: S.F. Bay Area CA.
Posts: 5,188
Likes: 0
Received 3 Likes
on
3 Posts
very interesting. thanks Calmtgguy for posting. ahh, memories . i bought my first new corvette in 1979. fully loaded it stickered for about $13,000+-. that was a TON of money back then (i also bought a 1979 Seville that stickered for around $16,000 which was CRAZY money for the time). after adjusting for inflation it actually makes my late model $65,000+- corvette seem like a bargain.
considering all aspects of that car, which i kept for 27 years, it was and is "a piece of junk" in comparision to todays C6. i certainly could not buy my primary home (purchased in 1980 and still own today) for anywhere near double+- what i paid for it then - even in this depressed market. i just find it interesting that the same guys that have stated here that the corvette is not worth anywhere near what it costs...still bought one and enjoy it. i bet they don't mention that ditty when they are selling it. well, everything and everybody has a "price". you have to pay to play. that will never change IMO. the debate goes on
. i bought my first new corvette in 1979. fully loaded it stickered for about $13,000+-. that was a TON of money back then (i also bought a 1979 Seville that stickered for around $16,000 which was CRAZY money for the time). after adjusting for inflation it actually makes my late model $65,000+- corvette seem like a bargain. considering all aspects of that car, which i kept for 27 years, it was and is "a piece of junk" in comparision to todays C6. i certainly could not buy my primary home (purchased in 1980 and still own today) for anywhere near double+- what i paid for it then - even in this depressed market. i just find it interesting that the same guys that have stated here that the corvette is not worth anywhere near what it costs...still bought one and enjoy it. i bet they don't mention that ditty when they are selling it. well, everything and everybody has a "price". you have to pay to play. that will never change IMO. the debate goes on
There have been so many threads about the price of the Corvette, with opinions on both sides of the price, being too high, just right, or even too low. The chart tends to show that the MSRP has been pretty much the same, year after year. You have to pay to play is saying I've used many times. I think the '08 Corvette that I bought was a great deal for what I paid at the time, in 1/08, it's a 74U, 1LT, Z51, NPP, QX1, Coupe, I paid GMS + $750 = $43,600, for a car with a $50,000 MSRP, but I've also seen the same, '09 car, same equipment plus $750 more for yellow paint, same dealer, with a MSRP of $53,450 , go for $38,000, on 12/09. This car went to a CF member after months of sitting at the lot. This is the best deal I've seen on a new Vette so far, and G.M., not the dealer cut the price by $4,000, plus $1,000 customer loyalty.
03-10-2010, 01:58 PM
#30
Corvette exclusivity is not driven by price. It is driven by practicality. MANY other cars (Tahoes, Trucks, Escalades, Cadillacs, Lexus) cost more than a Corvette, but few people are in a place in life where a Corvette ...or any two seater is a good choice for them. I am constantly amazed with people that think I make big bucks because of my Corvette and then I point out that they paid more for their car than I did.
Last edited by Aerovette; 03-10-2010 at 02:05 PM.
03-10-2010, 02:25 PM
#31
Le Mans Master
Thread Starter
Member Since: Feb 2008
Location: S.F. Bay Area CA.
Posts: 5,188
Likes: 0
Received 3 Likes
on
3 Posts
Same here. My company in the last 2 years, a rather very large tech company, has frozen our pensions, stopped all 401K contributions, and we are coming up on our 2nd year of no pay raises. So, given that a new C6 will cost me over $4000 more today to replace my 2007 C6, and I am not taking in more money than I did 2 years ago, I'll be holding onto my money a little longer. I don't even like to look at my 401K, but at least I have a lot of years to make it back up (hopefully).
03-10-2010, 02:29 PM
#32
Le Mans Master
Thread Starter
Member Since: Feb 2008
Location: S.F. Bay Area CA.
Posts: 5,188
Likes: 0
Received 3 Likes
on
3 Posts
Interesting... used the CPI Calculator... besides the C6 I own a 1990 ZR-1 (#566):
For my ZR-1 it had a sticker price of $60,590 and using the calculator that is $100,452 in 2010 bucks.
The fellow who bought the car new (November, 1989) paid out the door $74,978 which is $124,306 in today's bucks
In the listings you did should include from 1990 to 1995 the ZR-1 as a separate model just like the Z06 is to the base model in later years.
Michael
For my ZR-1 it had a sticker price of $60,590 and using the calculator that is $100,452 in 2010 bucks.
The fellow who bought the car new (November, 1989) paid out the door $74,978 which is $124,306 in today's bucks
In the listings you did should include from 1990 to 1995 the ZR-1 as a separate model just like the Z06 is to the base model in later years.
Michael
03-10-2010, 03:04 PM
#34
I can't believe that '79 was such a great year being it was one of the slowest dogs ever to have the Corvette name. Although it was one of my favorite Corvette bodies.
03-10-2010, 05:22 PM
#37
Team Owner
very interesting. thanks Calmtgguy for posting. ahh, memories . i bought my first new corvette in 1979. fully loaded it stickered for about $13,000+-. that was a TON of money back then (i also bought a 1979 Seville that stickered for around $16,000 which was CRAZY money for the time). after adjusting for inflation it actually makes my late model $65,000+- corvette seem like a bargain.
considering all aspects of that car, which i kept for 27 years, it was and is "a piece of junk" in comparision to todays C6. i certainly could not buy my primary home (purchased in 1980 and still own today) for anywhere near double+- what i paid for it then - even in this depressed market. i just find it interesting that the same guys that have stated here that the corvette is not worth anywhere near what it costs...still bought one and enjoy it. i bet they don't mention that ditty when they are selling it. well, everything and everybody has a "price". you have to pay to play. that will never change IMO. the debate goes on
. i bought my first new corvette in 1979. fully loaded it stickered for about $13,000+-. that was a TON of money back then (i also bought a 1979 Seville that stickered for around $16,000 which was CRAZY money for the time). after adjusting for inflation it actually makes my late model $65,000+- corvette seem like a bargain. considering all aspects of that car, which i kept for 27 years, it was and is "a piece of junk" in comparision to todays C6. i certainly could not buy my primary home (purchased in 1980 and still own today) for anywhere near double+- what i paid for it then - even in this depressed market. i just find it interesting that the same guys that have stated here that the corvette is not worth anywhere near what it costs...still bought one and enjoy it. i bet they don't mention that ditty when they are selling it. well, everything and everybody has a "price". you have to pay to play. that will never change IMO. the debate goes on
Even the L-82? I remember those days very well and 16,000 to $25,000 was alot back then for a car.
03-10-2010, 06:15 PM
#39
Team Owner
ok..then I remember when my first test drive in 1977 on a 1977 Corvette with a rare color sort of like beige I can't remember the name of color. He wanted $11,000 and it was used.I remember test driving the 1968 327 turbo 400 hydramatic auto trans Corvette coupe for $6,000 (I should have bought that car but he wouldn't accept $5,500) This car was clean with no options and no air.
I looked at a bunch of 1969 Corvettes in the $4,000 to $6,000 range, 1970 454 Corvette for $4,000 and 1972 454 Corvette that I bought. Also looked at some Shelby Mustangs GT-350's when they were $5,000 back then and those Arntz AC Cobras.
Yes by far todays is a much more refined and higher performance car. Back then if you wanted a fast Corvette and performance in the 70's you bought 60's Corvettes up to 1972 454 big blocks as they were faster in factory stock form than the newer models back then.