Dave S

Just got a note from Hagerty advising they had increased the valuation of my '05 Vert by $4500.
Doing way better than the stock market!

sramzzz

Yep in todays world vette prices are up. I know that I can sell mine for 5k more than the purchase price. Keeping it though as it checked all my boxes and i am getting close to having it just like I want it.

JABCAT

I've recently seen Base C6's with the Callaway pkg listed for 10's of thousands more than what I paid for my car. Also stock Carbon Edition Z06s listed for $30k+ more than what I paid for mine. Problem is, if you sell what are you going to get that equals or surpasses the performance value of the Corvette for anywhere near the price?

cadyshac

I think I got lucky and bought my 427 at the bottom of the market. It looks like it is always going to be the highest horsepower manual tranny naturally aspirated convertible corvette ever built, I can't imagine the cars value is going to fall unless I run the wheels off it. I had it out for a drive a couple of hours ago, such an amazing ride! Power to spare, top down, NPP sounds great, looks incredible, checks all my boxes. I sometimes still look at it in disbelief that it's actually my car.

1320#me

I am new to Hagerty. I just put it at 25,000 for a 05 with 40,000 miles. It is an above average car as I have seen quite a few that are not as nice as this one. Am I under the market value? Should I increase my value. I am not sure how this works. Any input would be great.

1320#me

Just wanted to mention that I get the car and a 25,000 that I insured it for if was deemed totaled by Hagerty.

Dave S

You can contact Hagerty & ask them to provide a valuation for you. I didn't do that, but have been a Hagerty customer for 10+ years & they may have done a data search for low mileage cars with no claims & done the valuation without me asking.

slothman

you know the world is *** backwards when used cars INCREASE in value

449er

It's a sellers' market for used Corvettes & has been for a while

tommyc6z06

I bought my 3LZ 08Z in 2018 for CAD$47.5k (approx U$33.8k) and had it evaluated for 'agreed upon' insurance value at that time.
Rates have gone up about 3% annually, but the current policy just came back showing they've modified the valuation to CAD$64k (approx U$44.8k).

Interestingly, next year it'll be 15yrs old and can therefore be insured as a 'collector car' here in Canada.

Mike98SilVert

More like the prices are rising, not the value.
Bidenflation.

Iceaxe

^^^This^^^

Your car is not worth more. It's your dollar is worth less.

cadyshac

I can't argue with that, just wondering where it will end.

1320#me

Politics on the forum should be banned.... Wrong platform people.

Iceaxe

I don't see where discussing used car values is politics. That we are currently suffering from record inflation, which results in higher prices, is just a simple fact.

Your mileage may vary....

Mike98SilVert

Inflation is caused by poor economic decisions which is the reason for the increases in prices across the board.
Value increases are usually due to rarity, uniqueness and condition.

She_Thicc

Then perhaps instead of calling out a single politician, call it what it is... inflation... and add some nuance to complete the full picture behind inflation (government spending, fed interest rates, corporate tax breaks, employment challenges due to COVID, supply chain issues due to COVID, high demand for the cars/parts, global energy price increases, etc.) if you don't want it to be construed as political.

We have a whole section of the forum to park the politics conversation, can we stick to it?

I think we'll see prices of Corvettes drop again one day, but my crystal ball is a little hazy right now so I can't predict when. In my opinion, C7s will inevitably fall. For example, I can't imagine C7 Grand Sports continuing to sell for $70k if C8s ever become widely available.

FAUEE

I mean, it's like 80% reckless spending from the Biden administration. The other 20% is reckless spe sing from the last year of the trump administration. The rest of that stuff is excuses for a complete lack of control from 2 administrations.