Corvette collection

...now browsing by tag

 
 

Preserve Your Investment in your Collectible Corvette…

Monday, August 30th, 2010

with a 1031 exchange is a legal way to pay 0% taxes versus taxes at 28%. I recently received an email and attached flyer that explains how to be smart sellers and buyers through an asset preservation program. Click here to learn more.

Classic Corvette For Sale | Used Corvettes Market

Preserving Your Investment in Your Collectible Car

Questions? Email: terry@proteamcorvette.com

Ten Most Significant Corvette Sales ’00-’10

Monday, August 9th, 2010

1. 1963 Grand Sport (#2). $4 to $5 million. Fell short of RM reserve of approximately $5 million but within months it sold privately for approximately $5 million.

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.

57 years ago today…

Wednesday, June 30th, 2010

The Corvette was born!

June 30th, 1953 in Flint, Michigan, our national love affair with the Corvette began and continues to grow as we near the car’s 6th decade.

Let’s all lift our glasses to another 57 years!!

Keith at CorvetteBlogger has some neat vintage shots and more information on the Corvette’s first days.

Terry Michaelis on Selection Committee for The “Exclusive” Great Hall

Tuesday, June 1st, 2010

or What Do These Names Have in Common… Terry Michaelis of Napoleon, Ohio and Hall-of-Famer Reggie Jackson”Mr. October”

Napoleon, Ohio – - Terry Michaelis, president of ProTeam Classic Corvette Collection, has been named to the selection committee for Bloomington Gold’s The Great Hall, ie: Hall of Fame. Terry is in good company as some of the biggest names in the hobby sit on the eight member committee, among them is baseball hall-of-famer Reggie Jackson who is also a Corvette collector. Over the next five years, the committee will submit 50 of the hobby’s most significant Corvettes and 50 of its most influential people that pioneered the Corvette phenomenon for induction to The Great Hall.

Bloomington Gold USA founder, David Burroughs, decided to put together a select brain trust to find the Corvettes and the people that have influenced and shaped the sport. A selection committee will name ten people and ten cars each year for the next five. The inaugural Great Hall class will be announced at the Bloomington show in June. The Great Hall’s selection committee runs independently of Bloomington Gold making this more than a marketing gimmick for the annual show. Burroughs would like The Great Hall to “serve as a document that puts the Corvette phenomenon into print and serve as a historic document.”

Terry Michaelis has been a recognizable figure within the classic Corvette hobby for 38 years. His lifelong connection to these Corvettes and the people passionate for these cars made him a natural for the The Great Hall selection committee. “The Corvette phenomenon was and is driven by passion and the love of the marque with many milestones along the way but  it is more than just about the car.” Michaelis continued, “Bloomington has always been about connections. It’s renewing friendships. Reminiscing. First and foremost, it is the people that have chartered the course to the point of ‘The Great Hall’.”

Michaelis purchased a 1964 Corvette in 1971 and never looked back. Over the decades he has became synonymous for his over-the-top promotions and his encyclopedic knowledge of the Corvette. In 1987, he and his brother Fred opened ProTeam Corvette in Napoleon and are owners of the largest collection of classic Corvettes in the world. He’s bought and sold over 10,000 Corvettes in nearly four decades with a current collection boasting several 1953 Corvettes, some 30 iconic 1967′s, a stable of coveted L88′s, and two GM Styling cars, one of which he was recently seen on Discovery Channel bidding to a successful purchase of $925,000.00.

Bloomington Gold USA will mark its 38th annual show on June 25th-27th, 2010. It has become a mecca for Corvette enthusiasts worldwide. It pays close and continual attention to both the die hard hobbyist and the everyday fan. An award from Bloomington carries much weight within the Corvette set, moreover, past Special Collections have generated unrivaled buzz within all collector car circles. These examples and much more have made Bloomington Gold the longest running national Corvette show. It has become affectionately known as “The Granddaddy of all Corvette shows”. For more information, go to BloomingtonGold.com

ProTeam Classic Corvette Collection and Sales, based in Napoleon, Ohio, showcases the largest inventory of classic Corvettes in the world. More than $10 million worth of Corvettes are displayed in 60,000 square feet of showrooms and restoration facilities with over 100 classic Corvettes on display at any time. In addition, ProTeam offers more than 10,000 sq. ft. of used, new and hard-to-find parts. For additional information, write to ProTeam Corvette  • PO Box 606 • 1410 North Scott Street • Napoleon, OH 43545 • toll free: 888-592-5086 • For more information, email: beth@proteamcorvette.com or go to ProTeamCorvette.com

50th Anniversary of the Corvette’s Greatest Achievement…

Monday, April 26th, 2010

is coming soon as September 17th, 2012 marks 50 years to the day when the Chevrolet Corvette was transformed into the iconic 1963 Corvette Split Window Coupe which is now a milestone and what we believe is the most significant event in Corvette history, thanks in part to the efforts of GM’s Bill Mitchell, Larry Shinoda, and Zora Arkus Duntov. Thousands of photos grace the internet and past magazine articles as the 1963 Split Window Coupe represents a hallmark of the famed Stingray and its design is endless without peers. Few car collections, personal or commercial, are without one such example.

One of ProTeam's 1/2 dozen 1963 Classics

Rare 1955 Corvette brought home…

Tuesday, March 23rd, 2010

from the Amelia Island, Florida Gooding and Co. Auction by… me! This rare 1955 was one of only 700 produced in 1955 and the Pennant Blue paint was only applied to 45 cars that year. Also, 1955 marked the first year for the V8 in a Corvette.
I paid $126,500.00 plus shipping for this past Bloomington Gold award winner which had been part of the Paul Jones Collection of Jonesville, Michigan until Paul sold the car in 2007 at the Mecum Bloomington Auction for $178,500.00.
Will consider an offer on this car that advances ProTeam’s basis should someone appreciate this car as much as we do. Email: terry@proteamcorvette.com

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

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.

Tangibles Versus Fantasy…

Wednesday, October 29th, 2008

Did your 401K turn into a 301K or 201K a couple of weeks ago?

Many people I know still like to keep their money or at least part of it in tangibles, ie: collectibles, real estate, and, of course, Corvettes and at the end of the day they, at least, have something they can touch, use, and enjoy and not be at the mercy of the whimsical minute to minute greedy market shakers, market makers, and market breakers.

Collectible Corvettes have a track record that transcends decades and their popularity knows no boundaries as evidenced by our customer base of 38 foreign countries and all 50 states.

At light at the end of the tunnel? Need proof?… Barrett-Jackson in Vegas Does 27 Million in the inaugural event taking place October 16th-18th, 2008. Proof that there was no shortage of money for collectible cars considering that this was a first time event/location that took place shortly after the post bailout financial scare.

Food for thought!! email: terry@proteamcorvette.com