The Better Business Bureau came out with its annual report of reports. Of the 451,814 complaints filed over the past twelve months, contractors lead the field with just over 19,000 inquiries received. Auto repair related businesses ran a distant 2nd with just under 7,000; 6th place went to new auto dealers (franchised) with 4,500 inquiries, and 25th place went to used car dealers with under 2,000 registered inquiries. As a used car dealer, there is a certain pride knowing our industry has cleaned up its act and reputation in the past decade as the number of complaints decrease. We are now securely nestled between carpet upholstery cleaners (#24) and photographers (#26). For the record, it is true that a dead man tells no tales as funeral services had the fewest complaints with only 547 reports filed. ProTeam has its sight set high as our number one goal is to inspire the same passion for the Corvette that we have in each of our customers and that begins with great service from doorway to highway.
July 2007
Thu 19 Jul 2007
Fri 13 Jul 2007
The 1953 to 1955 Corvette - ownership by the numbers
Posted by Waisner under Corvette Buying 101 , Corvette MarketNo Comments
Just for the heck of it, I asked Christine in ProTeam’s accounting department to check the records and see how many first generation (1953 to 1955) Corvettes that ProTeam has owned in the last 15 years.
Wow! Check this out! 1953 to 1955 Corvettes owned = 74 of which 19 were 1953’s, 44 were 1954’s, and 11 were 1955’s.
I remember five years ago when we had to work hard to get someone to pay us $100,000.00 to $110,000.00 for a 1953 and now they consistently sell for $250K to $450K with no end in sight. Fun Fact: Five years ago I sold Banker Bob a nice 1953 for $105,000.00 and yes, Bob just sold lot S91 at the recent Mecum Bloomington Gold auction for $296,625.00… Vette-N-Vestment!
Prediction: as the availability of the 1953 Corvette dries-up the first generation buyers will have to resort to the NEXT BEST THING… that is right! 1954 Corvettes will begin appreciating at a more rapid rate, especially the good ones with the only difference is top color as all 1953’s were white paint with red interior and a black soft top.
Wed 11 Jul 2007
Mecum Bloomington Gold Auction 2007: auction highlights
Posted by Waisner under Corvette Buying 101 , Corvette MarketNo Comments
295 Corvettes were offered with 145 selling with a sold percentage of 49%. Total auction sales were $8,255,306.00 and highlights are as follows:
Lot #S53 - 1953 Corvette Convertible: $283,500.00
Lot #S91 - 1953 Corvette Convertible: $296,625.00
Lot #S55 - 1955 Corvette Convertible: $178,500.00
Lot #S32 - 1957 Corvette Convertible: $152,250.00
Lot #S35 - 1960 Corvette Convertible: $102,375.00
Lot #S63 - 1963 Corvette Coupe Z06: $367,500.00
Lot #S67 - 1967 Corvette Convertible Black 435: $467,250.00
Lot #S73 - 1969 Corvette Convertible: $97,125.00
Lot #S93 - 1996 Corvette Convertible Grand Sport: $80,850.00
Terry’s Overview: The 1953 Corvettes that sold may sound quite expensive but I predict any restored 1953 Corvette will benchmark at 500 grand within 18 to 24 months at hi-profile events, as several recently sold for almost 500K. The 1963 Z06 that sold for $367,500.00 recently sold for $255,000 in the desert (Jan. ‘07). That is a 31% leap in just six months… Wow! The 1967 Triple Black 435 convertible that sold for $467,250.00 was a no excuse well-known “Real Deal” and quite frankly I would rather have $500,000.00 in one “Real Deal” than the same money in 4 or 5 wanna-bee’s with fake trim tags and fake paperwork. The 1996 Grand Sport convertible that sold for 80 grand plus, had approximately 6,000 miles on it. These cars are hot as only 190 convertibles were produced. I guess this kinda shows us that NOT all high prices achieved at auction are Arizona of Florida driven!!!
Thu 5 Jul 2007
A 1965 Bloomington Benchmark®
Posted by Waisner under Classic Corvettes , Corvette Top Tens1 Comment
ProTeam Corvette’s original 21,000 actual mile Red 396-425 hp Coupe (stk. #339W) was never tested on the show circuit. Bloomington Gold 2007 was its first trip under the judges clipboard and it came away with the most elusive of prizes: The Bloomington Gold Benchmark® award. Only twelve Benchmark® awards have ever been awarded to 1965 Corvettes out of a total 172 Corvettes that have ever received the Benchmark® status. The Benchmark® can only be awarded after earning a Survivor® award (a car is judged on originality of paint/body, interior, chassis, and engine after completing a 30-mile road course) and then must be Bloomington Gold certified (rigorous scoring standards based on show quality and historic accuracy) by the Bloomington judges. Only then can a car be considered a touchstone for which all other Corvettes should be measured; not a bad couple of afternoons for a rookie. See this 1965 Red Benchmark® Corvette (stk #339W) and the eighteen Corvettes we brought home Bloomington Gold 2007 online at ProTeamCorvette.com