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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.

22nd ANNUAL CLASSIC CAR RAFFLE

Friday, June 25th, 2010

TICKETS STILL AVAILABLE TO WIN A 1957 CORVETTE CONVERTIBLE

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.

Classic Corvette Raffle proteam-corvette.com

22nd Annual Classic Car Giveaway benefiting Saint Bernard Parish

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

’09 Show Awards for ProTeam • 52 Awards in ’09

Monday, January 4th, 2010

This is an impressive list from a most impressive collection:
April 2-4, 2009 • NCRS Top Flight • 1969 L88 Green • Chapter
April 23-25, 2009 • NCRS Top Flight • 1981 VIN #72 • Regional
April 23-25, 2009 • NCRS Top Flight • 1969 L88 Green • Regional
April 23-25, 2009 • NCRS Nomination for Bowtie • 1969 L88 Green • Regional

May 2-3, 2009 • Keels & Wheels Concours d’Elegance Best in Class • 1968 L88 Red

June 5-6, 2009 • NCRS Top Flight • 1953 Corvette VIN #39 • Chapter
June 5-6, 2009 • NCRS Top Flight • 1953 Corvette VIN #268 • Chapter
June 5-6, 2009 • NCRS Top Flight • 1967 Red 435 • Chapter
June 5-6, 2009 • NCRS Top Flight • 1968 L88 Red • Chapter
June 5-6, 2009 • NCRS Second Flight • 1969 Black 435 • Chapter
June 11-13, 2009 • NCRS Top Flight • 1967 Black 400 hp Air • Regional
June 11-13, 2009 • NCRS Top Flight • 1968 L88 Red • Regional
June 25-27, 2009 • Bloomington Gold • 1953 Corvette VIN #93 • National
June 25-27, 2009 • Bloomington Silver • 1953 Corvette VIN #39 • National
June 25-27, 2009 • Bloomington Silver • 1953 Corvette VIN #268 • National
June 25-27, 2009 • Bloomington Silver • 1967 Red 435 • National
June 25-27, 2009 • Bloomington Special Collection • 1968 L88 Red • National
June 25-27, 2009 • Bloomington Special Collection • 1969 L88 Yellow • National
June 25-27, 2009 • Bloomington Survivor • 1969 L88 Green • National
June 25-27, 2009 • Bloomington Gold • 1969 L88 Green • National
June 25-27, 2009 • Bloomington Benchmark • 1969 L88 Green • National
June 25-27, 2009 • Bloomington Survivor • 1970 LT1 Grey • National
June 25-27, 2009 • Bloomington Silver • 1970 LT1 Grey • National
June 25-27, 2009 • Bloomington Special Collection • 1971 LS6 Export • National
June 25-27, 2009 • Bloomington Survivor • 1972 Convertible • National
June 25-27, 2009 • Bloomington Gold • 1972 Convertible • National
June 25-27, 2009 • Bloomington Benchmark • 1972 Convertible • National
June 25-27, 2009 • Bloomington Survivor • 1981 VIN #72 • National
June 25-27, 2009 • Bloomington Gold • 1981 VIN #72 • National
June 25-27, 2009 • Bloomington Benchmark • 1981 VIN #72 • National

July 12-17, 2009 • NCRS Top Flight • 1967 Black 400 Air • National
July 12-17, 2009 • NCRS Top Flight • 1968 L88 Red • National
July 12-17, 2009 • NCRS 4-Star Bowtie • 1969 L88 Green • National

August 28-30, 2009 • Carlisle Race Car Reunion Invitational • 1965 Suisse Racer • National

September 16-20, 2009 • NCRS Top Flight • 1967 Red 435 • Regional
September 16-20, 2009 • NCRS Performance Verification • 1969 L88 Green • Regional
September 16-20, 2009 • NCRS Bowtie Display • 1969 L88 Green • Regional
September 16-20, 2009 • NCRS Top Flight • 1972 Convertible • Regional
September 16-20, 2009 • NCRS Nomination for Bowtie • 1972 Convertible • Regional

October 10, 2009 • NCRS Second Flight • 1961 Fuelie RPO-687 • Chapter
October 10, 2009 • NCRS Top Flight • 1993 ZR1 • Chapter
October 10, 2009 • NCRS Bowtie Display • 1969 L88 Green • Chapter
October 15-17, 2009 • NCRS Top Flight • 1964 White Coupe • Regional
October 15-17, 2009 • NCRS Performance Verification • 1972 Convertible • Regional
October 15-17, 2009 • NCRS Bowtie Display • 1969 L88 Green • Regional

November 20-21, 2009 • Corvette Nationals L88 Invitational • 1968 L88 Red • National
November 20-21, 2009 • Corvette Nationals L88 Invitational • 1968 L88 Blue • National
November 20-21, 2009 • Corvette Nationals L88 Invitational • 1969 L88 Green • National
November 20-21, 2009 • Corvette Nationals Triple Diamond Award • 1972 Convertible • National
November 20-21, 2009 • Corvette Nationals Concours Gold Certified • 1968 L88 Red • National
November 20-21, 2009 • Corvette Nationals Concours Silver Certified • 1968 L88 Blue • National
November 20-21, 2009 • Corvette Nationals Concours Silver Certified • 1969 L88 Green • National

If you want more information on the Corvettes? Go To Click to continue »

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

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. The  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

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

Personal Reserve Collection Show Results…

Monday, June 29th, 2009

are in for the following NCRS and Bloomington sanctioned shows where ProTeam’s Personal Reserve Collection cars were judged:
June 5/6 NCRS Detroit:
- 1953 Corvette, VIN #39 = Top Flight
- 1953 Corvette, VIN #268 = Top Flight
- 1967 Corvette Convertible Red 435 = Top Flight
- 1968 Corvette Convertible Red/Red L88 = Top Flight
- 1969 Corvette T-Top Black 435 = Second Flight
June 11/13 NCRS Wisconsin Regional:
- 1967 Triple Black 400 hp w/factory air = Top Flight
- 1968 Red/Red L88 = Top Flight
June 25/27 Bloomington Gold Certification:
- 1953 Corvette, VIN #39 = Bloomington Silver certification
- 1953 Corvette, VIN #93 = Bloomington Gold certification
- 1953 Corvette, VIN #268 = Bloomington Silver certification
- 1967 Convertible 435 hp Red/Red = Bloomington Silver certification
- 1968 Convertible L88 Red/Red = Special Collection
- 1969 Convertible L88 Yellow = Special Collection
- 1969 T-Top L88 Green = Bloomington Survivor certified, Bloomington Gold certified, Bloomington Benchmark certified
- 1970 Convertible LT1 Laguna Grey = Bloomington Survivor certified, Bloomington Silver certification
- 1971 convertible LS6 Export = Special Collection
- 1972 Convertible 3,000 miles White = Bloomington Survivor certified, Bloomington Gold certified, Bloomington Benchmark certified
- 1981 T-Top 3,000 miles Beige = Bloomington Survivor certified, Bloomington Gold certified, Bloomington Benchmark certified
These results speak loudly as to the quality of our special  Corvettes and our shop employees who painstakingly prepared them for judging and now we’re off to the NCRS National convention which takes place in San Jose, California on July 12-17, 2009 with three very special Corvettes. See you there!!! Comments and/or questions should be directed to terry@proteamcorvette.com


tMichaelis at work on the judging field Bloomington ’09

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