SRQ Vette

I have been closely watching used C7 convertibles on several web sites. I have been waiting for prices to fall as winter approaches. It seemed to me that 2014's in particular in most cases were over-priced, and in many cases they were sitting on dealer lots for more than 90 days.

Suddenly this past week, several of them disappeared from the lots. In most cases they were the ones that seemed to be the most reasonably priced. I'm wondering whether they sold to retail buyers, or if they were sent to auction. In one instance I am regretting not making an offer on the car before it disappeared, but I suspect that there will be plenty of better deals.

Does anyone out there have access to what is available at dealer auctions across the US? Are you seeing C7 convertibles coming through?

Corvette ED

At all Manheim Auctions in the US this is what sold since October
2014's
1LT White 16K miles sold at Detroit 10/26/17 $40,400
1LT Yellow 9K miles lease car California 10/10/17 $38,800

2LT Blue 70K miles lease car California 9/29/17 $33,500
2LT White 10k miles Detroit 11/2/17 $45,500
2LT Red 30K miles Orlando 11/7/17 $39,300

3LT Black 15K miles Manheim Pa lease car 11/9/17 $42,750
3LT White 6K miles Orlando 11/18/17 $44,500
3LT Silver 42K Palm Beach 11/22/17 $36,000

2LT Z51 Red 11K miles Atlanta 10/12/17 $46,000
2LT Z51 White 16K miles Atlanta 11/2/17 $42,500
2LT Z51 White 23K miles Palm Beach lease car 11/9/17 $42,400
2LT Z51 Black 1K miles New Jersey 11/15/17 $46,500

3LT Z51 Black 18K miles Texas 11/1/17 $43,000
3LT Z51 Black 24K miles California 11/9/17 $43,000

2015

1LT Silver 4K miles Manheim Pa 10/27/17 $43,000

2LT Yellow 22K miles Pensacola FL 10/31/17 $41,400

3LT Black 28K miles Tampa FL lease car 10/5/17 $42,600

2LT Z51 White 17K miles Atlanta 10/12/17 $47,000

3LT Z51 Red 3K miles Manheim Pa 11/10/17 $48,250

2016's

2LT White 1K miles Manheim Pa 10/6/17 $47,750
2LT Black 2K miles Louisville Ky 11/16/17 $46,000

3LT Black 14K miles Orlando Fl rental car 10/19/17 $40,500
3LT Yellow 31K miles Riverside CA rental car 11/16/17 $38,750

1LT Z51 White 4K miles Manheim Pa 11/17/17 $48,500

2LT Z51 Orange 18k miles Orlando FL lease car 10/3/17 $50,000
2LT Z51 White 6K miles Fort Myers FL lease car 10/30/17 $54,500
2LT Z51 Gray 2K miles Manheim Pa 11/10/17 $52,500

Looks like 27 cars sold since 10/1/17 to 11/22/17. Most new car dealers don't need to wholesale C7 Corvettes at the auction. They retail them off their lots. Corvettes new and used are still selling here in the northeast since the weather has still been good. For us dealers we can buy cars at any auction in the country that uses auction access. So what that means is we just sit at a computer and can log into a sale and buy.

The prices don't fall off big like they use too because even though the weather is bad in the north dealers in states in the south and west still buy cars and ship them. So that keeps the prices steady.

dbirdhouse1

Found my 6th (and final.....retiring next year) Vette; 2014 torch red Z51 1LT 7MT, added a few touches, aFe CAI, Corsa exhaust, stage 1 Z06 splitter and Z06 grill, a stock D shaped steering wheel, some floor mats, new battery and voila, my dream car to ride off into the sunset and I'm not letting this one go...........

Oh, and I just made the last payment.......she just turned 12,000 miles today.....thanks for reading

pbergmann

Wow.... I feel sorry for the early buyers of C7's
I was glad I got mine for 1/3 off used...
Now I'm sad that it dropped another $10k in the 14 months I've had it.
Let's See... 5000 miles for $10k... $2 per mile.
That can sure wipe a smile off a face.
guess it's back to my tundra truck in a few months, no depreciation in that neighborhood.

DPC57

I almost bought this one before I decided to buy new and not a vert.

https://www.paulmillerbmw.com/invent...yl3d74e5129445

DALE#3

Haa..Sucker.Guess you didn't do your homework.That's To Bad

pbergmann

Not really, $74k car I paid 48k for with 4k miles.
Now looks like it will sell for high 30's
everybody will see this type of depreciation if you buy a vette. Eventually they will be in the teens.

But then my stocks are up 7 figures this year to date.. so I could do this same thing 10 or 20 times a year and not even notice.

madrob2020

7 figures That's why you bought used & whine about depreciation. I am very glad tho that you had a very good year. Merry Christmas-seriously.

John Ulrich

Have you tracked what 3 yr old Mercedes or BMW's are selling for?

DALE#3

Yea OK

TSLAVette

I’m sure Forrest Gump. And you’re driving a used Corvette.
If my stocks were up $1M - first, I would not brag about - humility, second, I might splurge for new. Not buying it.

Jeffthunbird

I was interested to see the auction sales. Here is another data point. I got $47,000 real money trade-in for my 2015 Z51 convert mn7 with 7,000 miles. That is probably $2000 less than auction might bring but it was KBB trade-in excellent (3%) value. This went toward a new Stingray (save sales tax) that I got 24% off so I don't think I could have done better on it.

Corgidog1

I could care less what my 2015 3LT convertible is worth-totally irrelevant to me as I have no plans to ever sell it (I wish I could have posted that comment with a straight face as I am hoping that the C8 does not tempt me)

Foosh

Used M7 convertibles for sale of any MY are incredibly rare, so if you're picky about a particular color, you'll have a very hard time finding what you're looking for. Autos are perhaps a little more common, but still hard to find with only 12% of all C7s manufactured being rag tops, and 27% being M7. 27% of 12% is a relatively small number of cars produced.

I spent 6 months looking and had to settle for my 3rd choice of color.

roadbike56

OP, I think this is a great time to be a buyer. When I was looking two years ago, I found a number of dealers with used C7s lowered their asking price. A fellow Corvette Club member who is a car dealer explained that from Thanksgiving to New Year, folks are just more focused on the holidays and not on buying cars. So if a dealer has been sitting on a car, they're a little more motivated to move it out. Also, you have the huge discounts on the new Vettes working in your favor this year. I think you should create a spreadsheet and track the prices of cars you like. I'll bet several will drop in price before the end of December.

John Ulrich

I've owned my C3 for 26 yrs so far and plan to keep my C7 vert hopefully as long as I'm permitted on the road.

SRQ Vette

I seriously considered a similar car at Hendrick Chevy in Naples a few weeks ago. It had a tan top, and I just didn't like it with the black wheels. On the plus side, it was a steal for a Z51 with mag ride and automatic. They had it priced to blow it out the door at around $41,500, and miles were in the mid to upper 20's. I thought that the price was so good that I considered buying a new black top.

SRQ Vette

Wow. Those prices are stronger than I thought they would be. I seriously doubt that the buyers will be able to make a profit on some of these.

Foosh

I agree they're pretty strong considering how other cars in this price range (BMW, MB, etc.) depreciate.

Are the figures above convertibles only? I would expect coupe prices to be lower since 88% of all C7s are coupes. They're readily available all over the place.

Corvette ED

Dealers didn't buy them not to make money on them

The prices were on convertibles only

There are many dealerships in the country that specialize in selling used Corvettes. Also many Chevrolet dealers have a big used Corvette business. I have 35+ years of experience in the used Corvette business. With the auto auctions now having online bidding it has driven the prices up because there is more competition bidding on the cars.

I can tell you when the right car in good colors and equipment and low miles come across the block sometimes as many as 20 bidders are bidding online plus the people on the floor. I have seen car that I thought were worth say $$$ bring as much as 5K more than I wanted to pay. I watched a 2017 Collector GS coupe with 2k miles on it a month ago. I figured it for 63-65K and it brought $70,500+ $650.00 buyers fee.

I only wish Corvette Forum members could attend one of the bigger Manheim auctions and see what cars are worth in the real world when the hammer comes down and they sold. You would get a real education.

Remember Corvette Forum members are very small percent of Corvette owners. What you think it worth and what someone will pay for it are two different things