Wednesday, November 17, 2010

HOW MUCH IS YOUR CORVETTE WORTH?






FORT PIERCE, Florida - The US economy, after years of run-ups on the price of just about everything, seems to have slammed on the brakes. Our appraisals reflect that. We may never see financial horsepower like that again. Not only real estate, but classic cars experienced appreciations in value that were unmatched during any past era. Now we have a certain amount of devaluation going on. Some commodities that we appraise have been affected more than others by these corrections. Let's take a look at Corvettes - specifically, big blocks from the muscle-car era, the 1960s.

Just a few scant years ago it looked as if the ceiling for big-block Vettes would exceed a quarter of a million dollars, an aberration to be sure but also a gold mine for their proud owners. The St. Lucie Appraisal Company of Fort Pierce, Florida performed valuations on numerous Corvettes which were, in turn, submitted to insurers for stated value coverage. Most of those cars are worth less now; some of them much less.

Some examples of what a potential buyer might find out there right now include these.

1967 CORVETTE FASTBACK  
1967 Chevrolet Corvette coupe, Cortez Silver with black stinger and black leather interior, side mount exhaust, headrests, power steering, power brakes, telescopic steering wheel, AM/FM radio, numbers matching L36 427 factory rated at 390hp, 4 speed Muncie transmission with the factory installed Air Conditioning option, original tank sticker, Top Flight awards from chapter, regional and National NCRS meets, Gold awards at Bloomington and the Gold Spinner awards simultaneously resulting in the vaunted Triple Crown Certification.

1967 CORVETTE ROADSTER
1967 Corvette roadster 400 horsepower, 427 cubic  inch big block factory air conditioning, 4 speed transmission, tri-power holley carbs, power steering, brakes and windows, transistor ignition, full tinted window option, leather seats,  headrests, telescopic steering wheel, bolt on wheels,  am/fm radio, dual side exhaust, positraction 336 axle ratio and hard top, matching  numbers car including  the engine, transmission, intake and exhaust manifolds and cylinder heads, modern upgrades include two stage paint and red line radial tires.



1966 CORVETTE CONVERTIBLE
1966 Corvette Roadster, 427/425HP Turbo-Jet Engine, Four Speed Manual Transmission, Headrests, Positraction Rear Axle, 3.70 Ratio, Off-Road Exhaust System,Teakwood Steering Wheel,Telescopic Steering Column, Power Steering, 7.75x15 Goldwall Tires, AM-FM Radio, Protect-O-Plate, owner's manual, accessories guide, AM/FM station guide and the original warranty booklet envelope, 39,900 miles.

Want to purchase one of these Corvettes?  I will share the asking prices with you. As we approach 2011 the vast majority of us won't be plopping down a hundred grand for a Vette anytime soon. But it's nice to know that soon they might actually become affordable again.

The silver '67 Coupe is selling for $119K which seems like a bargain, especially with A/C. The red '67 Roadster is selling for $159K, another factory air car that was probably worth at least 15% more just a few years ago. Finally, the '66 Coupe with the low, low mileage will only set you back $129K. Again, less than you would have paid before but will there be further corrections in the classic automobile market? Imagine someday actually being able to afford one of these cars. Buyers and sellers are both keeping their fingers crossed but for completely different reasons. There are some really interesting sites such as Corvette Blogger where you can keep up with the market as well as other trends. Also, visiting local Corvette dealer sites such as Corvette Experience and Roger's Corvette Center will help keep you current with regard to price and availability of your favorite Corvette.

As appraisers of all types of motor vehicles, it's important to stay in the know when it comes to what things are worth. Are you insuring or donating a Corvette? Is your car part of an estate, bankruptcy, divorce or other legal proceeding? St. Lucie Appraisal will assure that the stated value of your classic car is accurate.





Our rates for services are as follows:

Auto Appraisals (Donations, Bankruptcy, Divorce, Insurance Disputes) $125.00

Stated Value Appraisals (Antique & Classic Cars, Street Rods, Motorcycles, RVs, Trucks) $175.00

Auto/Truck/RV Condition Reports $225.00 and Up

Diminished Value Appraisals (Determines how much less your car is worth after accident repairs) $225.00

Personal Property Appraisals (Contents, Collectibles, Art, Antiques) $225.00 and Up

All other services and additional time when necessary  $75/Hr.

Expert Witness - Court Appearances, Depositions, Mediation $225/Hr.

You may obtain appraisals for Financing, Charitable Donation Tax Credits, Collateral, Damage Claims, Equitable Distribution, Bankruptcy, Estates, Insurance Stated Value, Purchase & Sale and Diminished Value.

Appraisals of Personal Property, Art, Boats, Classic & Custom Autos, Antiques, Collectibles & Memorabilia, Electronics, Machinery, Motorcycles & Choppers, Furnishings, RVs, Trucks & Heavy Equipment. Business Valuations specializing in all types of small businesses.

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Keywords for this article: 427, BANKRUPTCY, corvette, Corvette Blogger, Corvette Experience, DIVORCE, ESTATE, florida, Roger's Corvette Center, ST. LUCIE APPRAISAL, stated value, Fort Pierce, truck, appraisal, appraise 

Revised 10-27-2012
Updated 06-19-2013
Updated 09-10-2013