Preserving Your Investment in Your Collectible Car

Questions? Email: terry@proteamcorvette.com

2. 1962 Corvette Gulf Oil Race Car. Sold at Gooding Auction at Pebble Beach for $1,485,000.00. Great historical car that dates this writer’s personal involvement when he sold this car in the 1970′s for a few hundred dollars as “thought to be” an old drag car out of his bone yard. Oh my!! What a few decades and doing one’s research means to significant Corvettes.

3. 1963 Corvette Z06 Yenko “Gulf One” Race Car. Sold at Mecum’s Kissimmee auction for over one-million dollars. Historical race car with driver present. Great presentation equals great results.

4. 1953 Corvette VIN #003. Sold in ’06 for over $1 million (Barrett-Jackson) and VIN #005 sold same year for over $840,000.00 (Mecum). In 2007, more 1953′s were sold at auction for over $400,000.00 (RM and Worldwide). Only 300 produced with maybe 50% to 60% accounted for. Every true Corvette collection should have at least one!!!

5. 1967 Corvette Coupe “The Last Sting Ray”. Over the top restoration. Over the top promotion by ProTeamCorvette.com of Ohio produced a $660,000.00 winning bid at Barrett-Jackson 2007. Significance is in the eye of the beholder but so much has been written and blogged about this car that can still be accessed at TheLastCorvette.com.

6. 1965 Corvette Cutaway Autorama Display. Sold at RM for over $700,000.00. GM Engineering display and a true marvel. If you never have seen this car, you truly are missing much. Sent to South Africa as an educational devise then reimported in the early part of the 2000′s decade. Neat!!!

7. The L88′s with only 216 produced over a three year span – 1967 (20) • 1968 (80) • 1969 (116). Any sale whether auction or private should be noted. Did Roger Judki pay over the top at Mecum in the earlier 2000′s when he paid $600K plus for the red 1967 12-mile coupe? Was the (BB) auction at Pebble Beach (8/08) for the 1967 L88 Race Car at $744,000.00 a good deal? A slew of 1968 to 1969 L88′s have sold at auction and privately for as high as $650,000.00. ie: 1968=$572K (8/09) • 1969=$446K (10/07) • 1969=$436K (6/08) • 1969=$413K (1/08) • 1969=$335K (1/06) • 1969=$323K (1/25) • 1969=$318K (6/09). The sale (auction) to watch is the 1967 black L88 ex-Tony Delorenzo race car at this year’s Mecum at Monterey auction.

8. The 1970-’72 ZR1′s & The 1971 ZR2′s. The ZR1 is basically a small block L88 where as the ZR2 is GM’s final C3 attempt to produce a big block 425 hp with L88 equipment. Very rare as only 53 ZR1′s were produced over the 1970 to 1972 production years and even rarer are the 12 ZR2′s produced in 1971. Example of auction results for the 1971 ZR2: $550K (Mecum 6/08) • $358K (BJ 1/08) • recent private sales for the 1970, 1971 & 1972 ZR1′s are $250K, $280K, and $100K in need of restoration.

9. GM Styling Corvettes. These are shop order cars that came out of GM Styling and some were done for the “Brass”, ie: Bill Mitchell, Harley Earl, Bunkie Knusen, etc. of which one of the most significant was/is the 1963 Harley Earl Corvette that recently sold for $980K at Mecum’s Spring Indy auction. Just Google Harley Earl and read the volumes of information of what this pioneer did for General Motors before bean counters and Wall Street took over. This is an era that will never be replicated I am sorry to say!!

10. The Original – Unrestored • Unmolested • Survivors that not only are original but also in a condition that they can compete on the show field where they were judged against a standard that they are as they were when driven out of the Corvette plant when new (within reason). These cars represent the most legitimate cars that exist as they are what they are and negate the need for documentation/paperwork (whether real or Memorex). One such example, a 1969 Silver 435 hp convertible with 6,200 actual miles recently sold at RM’s San Diego auction for $231K and many uninformed asked the question, “Why!” as they thought the car was a $100K to $125K car at most. I consider the purchase as “well bought” and in fact was the second to last bid missing this buy for a mere $5,000.00. At the end of the day and as people wake-up they will see that these objects are more than just a car. They are and will be antiques and, like art, will be best left alone. “An item is only original but once.” Please pay attention!!!!

author: Terry L. Michaelis
email: terry@proteamcorvette.com
web: ProTeamCorvette.com

note: List is not in any particular order.

Raffle tickets are available for the 22nd Annual Classic Car Giveaway benefiting Saint Bernard Parish and School in Rockport, Indiana. This year’s car is a NCRS restored venetian red 1957 Corvette Convertible valued at over $83,000.00.  The Corvette hotline number to order tickets is 812-362-7313.  Ticket orders may also be downloaded from the parish website at www.StBernardRockport.org where a photo tour and video tours of the car are featured.

The cost of each opportunity is $30.00 or 4 for $100.00.  Only 10,000 tickets will be sold.

“We were 116 tickets short of a sell out in 2009,” said David Lovell of Saint Bernard Parish.  “This 1957 Corvette is show-ready and is absolutely gorgeous. We’re hoping to sell every ticket this year.”

Saint Bernard Elementary School is the only accredited private/parochial school in Spencer County.  Over 20% of Saint Bernard students are non-parishioners and a bus service is available for families in the North Spencer area for daycare, pre-school and K-8 students.

The winner will be drawn on Sunday July 11 at 5:00 p.m. CDT at the annual Saint Bernard Summer Social on the church grounds at 6th & Elm St. in Rockport, IN.  Admission is free.  The Summer Social hours are 11:00 a.m. until 5:00 p.m. and everyone in the community is invited to attend.

The 1957 Corvette was purchased from the fine selection of classics from ProTeam Corvette.

22nd Annual Classic Car Giveaway benefiting Saint Bernard Parish

Also purchased at auction:
1967 Corvette Convertible, 300 hp, 4 speed… super rare and correct (real) Tuxedo Black with White/Black combo interior with its factory original body/trim tag. One of only a handful produced in this rare color combination. Body-off restored. NCRS Top Flight certified (98.2%) in 2007. Documented with warranty book/P.O.P, window sticker, dealer invoice, original canceled title, notarized deed of trust, owners manual packet, NCRS certificate/judging sheets/ribbon, and 1983 and 1986 dealer reassignment.
I really like this truly exceptional car and paid $73,000.00 plus shipping and am looking for someone who can appreciate it at least as much or more than me and will offer me a profit.
1995 Brand New Pace Car Convertible with only 53 miles from new… one of only 527 built. This car is in the wrapper with window sticker still on windshield. Automatic, leather, and loaded one owner car that I just bought at auction for $33,800.00 plus shipping.
Looking for an appreciative collector to advance my position. Email: terry@proteamcorvette.com

- 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