Corvette Buying 101

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3rd Annual Corvette Market Seminar…

Wednesday, December 9th, 2009

will be held at the Barrett-Jackson Auction on Thursday, January 21st, 2010 from 9:00am to 11:00am. This year Corvette Market Magazine welcomes two new panelists, Mike Yager of Mid America Motorworks and Terry Michaelis of ProTeam Corvette along with returning panelists David Burroughs of Bloomington Gold, Roy Sinor of NCRS, Michael Pierce of NCRS, Kevin Mackay of Corvette Repair, and Jim Jordan of County Corvettes.

- This group of panelists represent an unmatched level of knowledge, experience, and expertise in the world of collectible Corvettes.

- Admittance will be free for Barrett-Jackson consignors and bidders, Corvette Market and Sportscar Market subscribers, and owners of Bloomington Gold certified cars. Corvette Market Magazine is working on a co-promotional relationship with NCRS, and if achieved, then NCRS members will be admitted free as well.

- Under consideration are two sessions, the first dealing with restoration and preservation and the second with current market values.

- For more information, go to CorvetteMarket.com/2010seminar

The 100 Thousand Dollar Shopping Spree To buy the best C2 and C3

Friday, November 13th, 2009

… that you can for that money for both a driver and investment.

This is a very hard task as I would want to buy at least number two condition cars that are truly legitimate numbers matching with original VIN and trim plates and solid owner history.

I also would want no hit bodies, especially the frontal area.

This leaves the choices to the small block versions so I would buy a 1963 split window coupe for $60,000.00 to $70,000.00 and a 1969 or 1970 convertible with a 350 hp engine backed by a 4 speed transmission and this should be able to be accomplished for $30,000.00 to $40,000.00.

I would work on buying the 1963 first as that would be the hardest to do.

I would try to buy cars with good colors and as many options as possible.

This $100,000.00 challenge would make me a “price” buyer rather than a buyer who seeks “value” which generally will cost more but with an initial $100K available, I’d go to the bank and borrow the extra money it would take to truly get what I really would want at the end of the day.

The Corvette Still Reigns Supreme…

Sunday, October 18th, 2009

The Corvette Still Reigns Supreme… and a recent survey by Hagerty says just that. The Michigan insurance company asked its clients which American sports car they couldn’t live without and the Corvette won hands down. The Corvette is synonymous with America’s car culture and it continues its popularity in dealer showrooms, classic car shows, and in garages worldwide. Hagerty’s survey only confirmed what we already knew, the Corvette is still the one. For those keeping score, number two was the Ford Mustang followed by the Dodge Challenger. Check out the complete list at hagerty.com/corvettenumber1.

World’s Shortest Bucket List…

Sunday, October 18th, 2009

Dave Freeman co-authored 100 Things To Do Before You Die. It’s a best-seller that begged us to live each day like your last, “This life is a short journey. How can you make sure you fill it with the most fun and that you visit all the coolest places on earth?” He suggested creating a list of 100 things and mark them off one by one.

Personally, my list begins and ends with buying a classic Corvette. Anything else I’d list pales in comparison to the opportunity of Corvette ownership. The friendships, destinations, adventures, and lifelong memories have ensured a long list of 1,000 things I have done; preferably behind the wheel of a classic Corvette. Now that’s heaven!

Two Special Corvettes… that I really like

Friday, September 11th, 2009

A. 1967 Goodwood Green L89 Coupe with its original motor. One of only 16 produced in model year 1967 and one of only three known to have its original motor. Simply known as the Ed Cole Brass Hat COPO “Special Handling” car. This well-known show car is available with original Kelsey bolt-on aluminum wheels from ProTeam’s Personal Reserve Collection at $275,000.00 for a very limited time.

B. 1969 Lemans Blue L88 T-Top with restoration motor, M-22, and 4.56 posi. The owner history reads like the who’s who of the Corvette hobby. This car is available from ProTeam’s Personal Reserve Collection for $225,000.00 for a very limited time and is an absolute steal (gift).

For more information or questions, email terry@proteamcorvette.com.

Monterey Madness…

Tuesday, September 8th, 2009

When Bad Data is Good News and $118.7 million is Pretty Good! Five auctions in three days sold 558 classic cars. The average price was $212,711.00 per unit. 67% of the cars crossing the block went home with new owners. However, when compared to 2008, the numbers look a bit scarier, ie: nearly $139 million in sales in ‘08, 70% sold, average price was $367,000.00 (+). All told there was a 17% decrease in sales from this year to last. The numbers don’t reflect the real story though. Experts, garage mechanics, and weekend warriors have all been reading the tea leaves for twelve months and they knew what would happen. There were no surprises and some real highlights like the $7.25 million paid for the Shelby Cobra. There was no speculating or nay-sayers just real bids for real cars and this is the real news out of Monterey for the collector car market and the enthusiasts who inhabit the hobby. Email: terry@proteamcorvette.com

Shelby Cobra Brings $7.25 Million…

Tuesday, September 8th, 2009

At Mecum’s inaugural Monterey, Ca. event, the storied 1965 Daytona Shelby Cobra Coupe established a new standard by which all future classic car sales will be set. Racing’s crown jewel and Carroll Shelby’s capstone went for $7.25 million. This car was one of the six purpose built by Shelby as Ferrari killers. This particular car, CSX2601, clinched the 1965 World Manufacturers Championship and Shelby American in France each with legendary driver Bob Bondurant at the wheel. TheĀ  sale of this car has added to a ripple effect of cars with historic provenance coaxing the classic car market back to life. These auctions, car shows, cruise-ins, and Saturday afternoon’s in the driveway remind us all that no one regrets investing in a great classic car. This Shelby Cobra may just bring sexy back to American muscle. Email: terry@proteamcorvette.com

Three Special Corvettes… that I really like

Wednesday, August 19th, 2009

A) 1963 Sebring Silver Split Window Fuelie with an original GM OEM body, motor, transmission, and rear end in show condition as evidenced by its June 2009 NCRS certificate and judging sheets. Most deducts were related to over restoration (I like that) and operational issues (since fixed). This is an absolute beauty that I know well. ProTeam Corvette stk #1053A

B) 1968 T-Top Pre-Production Pilot Line Car, VIN #15 [escapee]. This probably is the first t-top ever built as the 1968 t-top production was delayed to around VIN #10,000 due to body development/launch problems. This car probably spent the first six months of its life at the Milford Proving Grounds doing body development duty. This is a very important car as the t-top launch in model year 1968 proved so successful that it finally replaced the convertible by 1976. 477,275 t-tops were produced from 1968 to 1982 and this is probably the first t-top ever produced. This Corvette is a gift a $50,000.00 which is subject to change in late August. ProTeam Corvette stk. #203X

C) 1970 LT1 Convertible is a very rare car as only 1,287 were produced with only 30% being the convertible. The combination of being a red convertible and having factory documentation makes this a less thanĀ  1 of 50 in the world. ProTeam Corvette stk. #1049A

For more information or questions, email terry@proteamcorvette.com or tmichaelis@charter.net

What Happened To All The Real Car Guys…

Monday, July 13th, 2009

that enjoyed the chase? You know the guys who would never buy a Corvette without looking, inspecting, touching, and test driving a car prior to the purchase. Here’s my personal challenge. Get out from behind the computer screen and personally inspect that Corvette of your dreams with your own eyes and participate physically in “the chase”. It might even be fun and you won’t be disappointed!!!

Would you like to discuss the rise, fall, and rise again of “real car guys”, email me directly at terry@proteamcorvette.com

Two Mid-Year Corvettes, ie: Bookends

Thursday, May 21st, 2009

The search and purchase of the most desirable mid-year Corvettes ever produced…

Number one would be a 1963 Corvette split window coupe equipped with factory fuel injection (327-360 hp) and a 4 speed transmission.

color: Preferred color would be tuxedo black with a red interior, although I would settle for a black interior. I would make absolutely sure that the trim tag and VIN tag were the original and have not been off the car. I might settle for riverside red but prefer black.

condition: I would want to buy a body-off restored car with few excuses or a low mile survivor that is unrestored, unmolested, in at least number two condition.

awards: I would like a car that has been judged by the NCRS (National Corvette Restorers Society) or Bloomington Gold within the last five years as it adds credibility and helps me sleep better.

price range: I would love to buy the above described tuxedo black examples for $125,000..00 but I am a realist and know that a “real deal” car would more than likely push me to $150,000.00 to $175,000.00.

Number Two would be a 1967 Corvette convertible equipped with a 427-435 hp engine or a 427-400 hp with factory air. I would want a 4 speed transmission with as many options possible. I prefer factory side exhaust but know I can always add (bolt-on) this owner preferred option later.

color: Preferred color would be tuxedo black with a red interior, although I would settle for a black interior. I would absolutely be sure that the trim tag and VIN tag were the original and have not been off the car. I might settle for rally red but prefer black as only 815 Corvettes were painted this color in 1967.

condition: I would want to buy a body-off restored car with few excuses or a low mile survivor that is unrestored, unmolested, in at least number two condition.

awards: I would like a car that has been judged by the NCRS (National Corvette Restorers Society) or Bloomington Gold within the last five years as it adds credibility and helps me sleep better.

documentation: I would want an original motor car or an original unmolested unrestored car where in documentation would not be necessary. If the car was restored with a restoration motor, I would want as much factory/delivery dealer paperwork (documentation) as possible, at least a tank sticker, window sticker, warranty book/protecto-plate, car shipper, or dealer invoice. At least one of these items would be necessary and the document would be subject to scrutiny by Al Grenning’s CCAS for an affirmation of its legitimacy thus reducing the stress of subjectivity and guru options.

price range: I would love to purchase the above described tuxedo black examples for $275,000.00 to $300,000.00 but I am a realist and know that a “real deal” car would move my checkbook closer to $350,000.00 which is still a hard find even in our current lackluster economy. A rally red example would be much less since Chevrolet produced almost three times as many.

The ultimate mid-year bookends! A high performance small block and a big block. One coupe and one convertible… and both black. email your comments to terry@proteamcorvette.com