tMichaelis Corvette Perspective

First and foremost, buy the Corvette that you like and look for your ROI (return on investment) to be increased utilizing the fun factor as there is an amount of pleasure return that no paper folio will ever match. If your number one reason is an investment, you should probably apply for a dealer’s license and don’t forget what has been happening in the real estate market to the “flippers” in Las Vegas, Arizona, Florida, and other hot real estate markets.

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China and the Corvette may have a lot more in common than anyone could imagine as China is the world’s largest emerging economy of consumers and as China continues to industrialize (10 years) they will create pockets of wealth for people who want worldly collectibles. Who would have thought we’d see Corvettes in Russia, Hungary, Croatia, Kuwait, and many South American countries. The popularity of Corvette ownership knows no boundaries with many selling overseas to these unusual places where poverty is the norm and wealth is an anomaly. It’s a world market and not just North America!

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The Suisse Racer is a purpose-built race-proven GM export Corvette big block coupe, VIN 194375S115982. It was delivered new to GM Auto Koch in Luzern, Switzerland in 1965 and raced by the original owner Guido Wermelinger.

A freshened-up 396 ci, 500 hp 4-speed engine reside in this beast of a time capsule with special heavy duty suspension and period factory aluminum heads among this Corvette’s many pearls. The Suisse Racer is ready for the track from the interior (roll bar, race seats, and harnesses) to the subtle racing red paint scheme that is suprisingly understated.

ProTeam Corvette brought this storied Corvette out of hibernation and immediately tested its heart on the track during the MAMA (Midwest Automotive Media Association) event May 2nd, 2007 at Road America, Elkhart Lake Wisconsin. The Suisse racer received rock star treatment as it delighted the more than 60 leading automotive journalists and other VIP’s gathered to test-drive vehicles at the Road America raceway during the two-day event. It performed like a champion.

The Corvette now sits on display in Napoleon. What has set this Corvette apart is the European race history and the General Motors S.A. Bienne body/trim/engine/trim plate that is installed alongside the original VIN plate and St. Louis body/trim plate. What this elusive Corvette is missing are the historical footnotes that would allow this car its rightful spot among some the best in the marque.

If you have information on this Suisse Racer’s owner and/or race history, photos, import documentation, homologation information, FIA records, etc., let me know. Your efforts will not go unrecognized.

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Is the bubble bursting on collector Corvette prices?

Unlikely, as the popularity of car (Corvette) collecting is still in its infancy and growing at a pace that outstrips the availability of nice cars. The popularity of Corvette ownership knows no boundaries and many Corvettes are sold overseas including unusual places like Russia, Hungary, Croatia, Kuwait, Japan, UAE, New Zealand, and many South American countries and within the next ten years… China!

Also, a broad base of money resides in the pocket of the Baby Boomers. They hold the largest ever collection of dispensable, discretionary income, and assets ever in the country’s past or possibly the future and they want something special. Boomers control much of the monetary whims of the economy and they prefer a hard tangible asset they can enjoy and prefer instant gratification while filling voracious egos owning something that no one else has.

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This is a subject of intense interest as the value of collector cars soars. I wanted to provide some insights about this and hopefully clarify some misunderstandings.

I’ve attached the National Corvette Certification Board’s (Bloomington Gold judges) policy and it pretty much mirrors my policy and thoughts over the past 20 years.

First of all, many people believe that a Corvette must have its original engine to qualify for a Bloomington Gold Certificate. In reality, that is not necessarily true.

If the engine stampings and the rest of the engine appear to be within 95% of they way they would have appeared at the day of production, there is no problem. In other words, if a restorer has accurately reconstructed the engine and stampings to the point that it appears no different from factory, it will pass. But it needs to be accurate to the gnat’s eyebrow.

For example, our “Last” Corvette has an accurately restored engine (which is no secret) and has easily passed the Bloomington Gold standards.

On the other hand, if the inspectors can easily detect differences in the configuration or finish of the engine block, it will not qualify for a Gold regardless of its overall score or cosmetic perfection. Therefore, even though “the numbers might match”, the differences in shapes of the stampings (compared to factory) will be detected by experts. And Bloomington Gold has the judges, technology, and records to do this very reliably.

Unfortunately, some less experienced judges (or over zealous “experts”) can out-fox themselves by not knowing how to distinguish between inaccurate stampings and factory “flukes”. If a judge makes such a mistaken identity, it may defame the automobile and engine in question. This is a disservice to the owner, but more importantly to the automobile and even the industry in general.

So what is the difference between accurately restoring an engine stamping and counterfeiting one? For this answer, I’ll defer to Bloomington Gold’s definition which has been their policy for decades. It is also one that I strongly support.

From Bloomington Gold’s Procedures and Protocols, page 4/5.

RESTORATION vs. COUNTERFEIT
It is not Bloomington Gold’s policy to “look for counterfeits”. However, if a counterfeit engine, trim tag or VIN is discovered, our policy subjects the owner to immediate disqualification and ineligibility to participate in future Certification events. If a Bloomington Gold judge is aware of such a counterfeit, he is required to advise the Division Director. Furthermore, if any Bloomington Gold judge is found to be associated with a Corvette entered in Certification which is determined to be counterfeit, he is subject to immediate and permanent dismissal from the National Corvette Certification Board.

Bloomington Gold does not necessarily consider “re-stamping” to be counterfeiting. If the “re-stamp” was done with the intention of restoring or replacing the original numbers rather than deceiving, Bloomington Gold does not consider that to be counterfeit. Bloomington Gold uses Webster’s Dictionary to define:

restoration: “To renew; to put back into existence or bring back to a former or original state.” For Example:
1. Repainting an original Tuxedo Black Corvette with Tuxedo Black paint.

2. Restamping an original block with the same CID/Suffix/VIN as that block had when it left the factory.

counterfeiting: “To make an imitation of something else with the intent to deceive or defraud.” For Example:
1. Repainting an original Glen Green Corvette with Riverside Red paint and changing the trim tag so it appears it left the factory as a Riverside Red Corvette.

2. Replacing the engine in a small block Corvette with a big block and making the CID/Suffix/VIN stampings appear that the Corvette left the factory as a big block.

3. Replacing the carburetor on an engine with a fuel injection unit and altering the block numbers and suffix code to make it appear it left the factory as a fuel injection Corvette.

Copy from existing material excerpted from Certification Guidelines
Note: Reprinted with copyright permission from Bloomington Gold

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1967 Corvette Historical Facts (condensed version)
The 1967 Corvette Celebrates its 40th anniversary this year (2007) and marks the end of the Corvette’s second generation (1963 to 1967). The 1967 Corvette is unequivocally the high water mark or holy grail for Corvette collectors in the know and has an appreciation record that tracks well back to the mid 1970’s with many selling for the six figure range today.

Recently a 1967 Corvette coupe VIN #22940 (known as the Last Sting Ray) sold for $660,000.00 and the preceding day a 1967 L-88 received a bid in excess of 1.5 million dollars.

A. 1967 Corvette were produced from September 1966 through July 1967 with a total production of 22,940 of which only 8,504 were coupes.

B. 1967 Corvette had functional side fender vents with five slots.

C. 1967 Corvette had a blue GM Mark of Excellence label attached to the back of each door above the latch.

D. 1967 Corvette engine combinations were: 327-300 hp (6,842 produced), 327-350 hp (6,375 produced), 427-390 hp (3,832 produced), 427-400 hp (2,101 produced), 427-435 hp (3,754 produced), 427-435 with aluminum heads (16 produced), 427-430 [L-88] (20 produced).

E. 1967 Corvette L-88 engines exceeded 500 hp but were intentionally understated to restrict its appeal to non-racing clients.

F. Some of the rare options were: C-48 heater & defroster deletion (35 produced), L-88 engine (20 produced), L-89 engine (16 produced), M-22 heavy duty transmission, N03 36 gallon fuel tank (2 produced), and N89 cast aluminum bolt-on wheels (720 produced).

G. 1967 colors were: Tuxedo Black (815 produced), Ermine White (1,423 produced), Rally Red (2,341 produced), Marina Blue (3,840 produced), Lyndale Blue (1,381 produced), Elkhart Blue (1,096 produced), Goodwood Green (4,293 produced) , Sunfire Yellow (2,325 produced), Silver Pearl (1,952 produced), Marlboro Maroon (3,464 produced), and ten (10) 1967 Corvettes had non-standard paint or just plain primer.

H. The 1967 was the last year of the famous Sting Ray (two words).

source: Corvette Black Book, Mike Antonick (2006)

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1965 Corvette Historical Facts (condensed version)
The 1965 Corvette production marked the end of the famed Rochester fuel injection and the beginning and end of the famed 396-425 hp Corvette Big Block!

A. 1965 Corvettes were produced from August 1964 through August 1965 with a total production of 23,564 of which only 8,186 were coupes.

B. 1965 marked the last year of the Rochester fuel injection (771 produced).

C. 1965 marked the first and last year of the 396 ci-425 hp engine for the Corvette (2,157 produced).

D. 1965 marked the first year that four-wheel disc brakes were available as standard equipment.

E. 1965 Corvette engine combinations were: 327-250 hp (2,551 produced), 327-300 hp (8,358 produced), 327-350 hp (4,716 produced), 327-365 hp (5,011 produced), 327-375 hp (771 produced), 396-425 hp (2,157 produced).

F. Some of the rare options were: C-48 heater and defroster deletion (39 produced), F-40 special suspension (975 produced),J61 drum brakes/credit (316 produced), N03 36 gallon fuel tank (41 produced), N14 side mount exhaust (759 produced ) and 4.56:1 ratio rear end (789 produced). Other very rare racing options also were available but that information has not been printed as of yet.

G. 1965 colors were: Tuxedo Black (1,191 produced), Ermine White (2,216 produced), Nassau Blue (6,022 produced), Glen Green (3,782 produced), Milano Maroon (2,831 produced), Silver Pearl (2,552 produced), Rally Red (3,688 produced), Goldwood Yellow (1,275 produced), and five 1965’s had non-standard paint or primer.

H. Chevrolet built two 1965s after production officially ended July 31st.

I. The first 1965 was painted 1964 Satin Silver and coded ZZ (Cadillac’s code for the same color) and currently belongs to a ProTeam client.

source: Corvette Black Book, Mike Antonick (2006)

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1961 Corvette Facts (condensed version)
1961 Corvettes were produced from September 1960 through July 1961 with a total production of 10,939. All 1961 Corvettes were convertibles with over half receiving an auxiliary hardtop.

A. Exterior styling was facelifted for 1961. It was the first Corvette without heavy “teeth” in the grill area. The rear was completely restyled with four taillights, now a Corvette tradition.

B. Exhausts exited below the body on 1961’s

C. The grill for ‘61 was finished in argent silver

D. Popular & Optional Engine Combinations Were: 283ci, 315hp engine (fuel injection) - 1,462 produced; 283ci, 270hp engine (2×4 carburetor) - 2,827 produced; 283ci, 245hp engine (2×4 carburetor) - 1,175 produced.

E. RPO-687 included special front and rear shocks, air scoops/deflectors for front brakes and air scoops for rear brakes, metallic brake facings, finned brake drums with cooling fans, and quick-steering adaptor of which only 233 were produced!

F. This was the last year for use of 283ci engines in Corvettes. This was the last model with “wide” whitewall tires.

G. 1961 Colors were: Tuxedo Black - 1,340 produced; Ermine White - 3,178 produced; Roman Red - 1,794 produced; Sateen Silver - 747 produced; Jewel Blue - 855 produced; Fawn Beige - 1,363 produced; Honduras Maroon - 1,645 produced.

H. Jewel Blue exterior paint was exclusive to 1961

I. Contrasting cove colors were last available in ‘61, as were dual-four carburetors.

1962 Corvette Facts (condensed version)
1962 Corvettes were produced from August 1961 through August 1962 with a total production of 14,531. All 1962 Corvettes were convertibles with over one-half receiving an auxiliary hardtop.

A. Engine displacement for 1962 increased from 283ci to 327ci. Dual-four barrel carburetors were not available. 1962 Corvettes could not be ordered with coves painted to contrast body color. This was the first model with rocker panel moldings. The conventional trunk design of the 1962 was the last until 1998. This was the last year for electric generators and solid rear axles. This was the first year to have tires with narrow whitewalls. The grill for 1962 was finished in black anodized, gold anodized, or gold anodized painted black.

B. Popular & Optional Engine Combinations were: 327ci, 340hp engine - 4,412 produced; 327ci, 360hp engine (fuel injection) - 1,918 produced; 327ci, 300hp engine - 3,294 produced.

C. RPO 687 included special front and rear shocks, air scoops/deflectors for front brakes and air scoops for rear brakes, metallic brake facings, finned brake drums with cooling fans, and quick-steering adaptor of which only 246 were produced.

D. 1962 Colors Were: Tuxedo Black ; Fawn Beige - 1,851 produced; Roman Red; Ermine White; Almond Beige - 820 produced; Sateen Silver; Honduras Maroon.

E. 1962 Corvettes were the last with a solid rear axle which marked the end of the Corvette’s first generation.

The 1962 Corvette celebrates its 45th anniversary this year (2007) and marks the end of the Corvette’s first generation (1953 to 1962).

source: Corvette Black Book, Mike Antonick (2006)

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BUY THE BEST CORVETTE you can afford Today, because the Corvette you buy is the Corvette you’ll have to sell Someday

BUY COSMETICS - - Buy paint and chrome, unless you have a shop and knowledge to control your costs.

RESEARCH - - Arm yourself with knowledge provided in the many Corvette publications.

DON’T TRADE OFF COSMETICS FOR A NUMBERS MATCH DRIVETRAIN - - It will always cost you more to restore (paint, trim, chrome, etc.) a Corvette needing restoration vrs. putting the proper numbers motor back in your vehicle if that’s your venue. Numbers have become secondary to cosmetics and it’s about time (full circle)

REALIZE THAT CORVETTES ARE OLD CARS - - Whether it be any 5, 10, 20, 30 year old car- They are just old cars. They require more attention than that new Chevy or Ford setting in your driveway especially if you don’t take them for daily or weekly workouts. The best running and most reliable automobiles are those used on a regular basis.

THE MOST IMPORTANT IS GO OUT AND HAVE FUN - - DRIVE YOUR CORVETTE - - Join a club. Go to Cruise-ins. Put your Corvette in local shows (but don’t take it personal). Wave at other Corvette owners- Enjoy!

BUYING ONE CORVETTE is the beginning of a collection and buying your second is never the end.

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ANYTHING 1967 - - Super Popular Year. High Water Mark! People who advertise a 1967 Corvette for sale have their phones ring off the hook. We do!! “The Holy Grail”

1958 - ‘62 - - Very popular with boomers in their late 40’s and 50’s. Four headlights and a trunk!

1968 - ‘72 - - Very affordable chrome bumper cars - ENTRY LEVEL - but for how long could be anyone’s guess. Probably will be best buy for someone wanting to drive a Corvette free for 3 to 4 years.

1963 SPLIT WINDOW COUPE - - ONE YEAR ONLY - Always been popular milestone car. Every collector needs at least one!

1965 - ‘66 - - Good cars, disc brakes. Next best thing to a 1967 but more affordable.

1953 - ‘55 - - For a serious collector who just, “gots to have one!” - Not much of a ride but a great conversation piece first generation Corvette. Every real Corvette collector has one!

1956 - ‘57 - - Single headlights - 13 tooth grill - top fender scoops- waffle seats and door panels strong styling

1973 - ‘75 CONVERTIBLES - - rubber bumpers. Very affordable for someone that must have an older convertible.

1978 - - Silver Anniversary or Pace Cars. Try to buy 4 speeds, L-82’s, and/or low miles very popular with the working man or woman.

1982 - - Collector Edition - First year of crossfire injection, two-tone paint, hatchback, and last year of ‘68 to ‘82 body/frame configuration. Also, first year the Corvette MSP hit over $20,000.00 buy low miles.

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