tMichaelis Corvette Perspective

Documentation and your old Corvette

Waisner — Wed, 28 May 2008 18:55:27 +0000

What is Documentation: Documentation is generally referred to as factory and dealer delivery paperwork, ie: window sticker, tank sticker, shipper copy, warranty book/protecto-plate, dealer invoice, dealer bill of sale, owners manual packet.

Fact one: Most older (1953 to 1981) Corvettes do not have any form of documentation. A Corvette with documentation is the anomaly!

Fact Two: Bloomington Gold and NCRS judges do not judge documentation and documentation is not required to have your Corvette judged, other than a title and proof of insurance. These judges are generally quite experienced and judge by a standard and that standard I refer to as “The Duck Test” being; If it looks like a duck, walks like a duck, and quacks like a duck… it most likely is a duck!!! Sometimes the evidence of the “The Duck Test” is so overwhelming, especially when performed by the truly experienced, it replaces the real need for documentation (paperwork).

Fact Three: Sadly, the unreasonable and silly thinking that a Corvette without documentation has little value has created a covert cottage industry of entities and/or persons that make/print/create fake aged documentation.

Caveat Emptor: If documentation is a requirement leading to your purchase of an older Corvette, please hire an expert to affirm that the documentation is, in fact, real and not something that was generated to feed that silly notion that a Corvette must have documentation.

Who to contact for documentation affirmation: CCAS (Classic Corvette Legitimacy Affirmation, LLC), 318 Summit Str., Boonville, NY 13309, ccas4@aol.com
CCAS, LLC will evaluate certain specific forms of documentation by personal inspection. Please inquire for details.

Author: Terry Michaelis, terry@proteamcorvette.com

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Importance for Collectibility and Value…

Waisner — Tue, 29 Apr 2008 16:36:37 +0000

What is your importance criteria for future collectibility and value when considering the purchase of a Corvette? Here is my thought provoking list and not necessarily in order of importance and I guess it would depend on whether the car was a. restored, b. a driver, or c. unrestored/original:
1. title,
2. VIN Tag Matches Title,
3. VIN tag attachments,
4. body/trim tag (original),
5. numbers match (original engine),
6. numbers match (restoration engine),
7. correct body color,
8. correct interior color,
9. cosmetics/condition,
10. damage free body,
11. gaps on moveable body parts,
12. rust-free chassis,
13. options,
14. documentation,
15. price,
16. value (getting what you pay for).

If I overlooked an item of importance, please email me at: terry@proteamcorvette.com

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Terry’s B-List (The Affordables)

Waisner — Fri, 21 Mar 2008 19:29:52 +0000

1955 V-8 • 700 produced (7 Blue Flame Six; 693 with V-8’s) • values $125K to $350K
1957 Fuelie • 1,040 produced (RPO-684 HD racing suspension, 51 produced; RPO-579E air box, 43 produced) • value $250K up on the RPO-684/579E
1958-’62 Fuelies • RPO 684 + RPO 687 HD brakes + suspension; 884 produced in all 5 years/177 per year • value $150K up (1958 RPO-684 are very special and more expensive)
1958-’61 Dual Four • 245 hp and 270 hp • value $100K up
1963 Fuelie Split Window • 1,300 prox. produced • value $100K up
1965 Fuelie • last year fuelie (771 produced) • value $100K up
1965 396-425 hp • first/last year for the 396 (only 2,157 produced) • value $100K up (M-22 adds $150K to $250K)
1966 427-425 hp • 5,258 produced • #2 in top 40 fastest muscle car list • value $100K up • 15 M-22 produced (adds $150K to $250K)
1967 435 hp • 3,754 produced (popular then/popular now) • colors & documentation is important & rare • value $150K up
1963-’67 Tanker • 63 ’63’s produced, 38 ’64’s produced, 41 ’65’s produced, 66 ’66’s produced, 2 ’67’s produced • values range $125K up • ’63’s are hot and just try to find a ‘67 (probably $500K to $1 million)
1967 400 hp/air/convt. • colors & documentation is important • value $150K up
1968/69 L-89 • 624 1968’s/390 1969’s produced with aluminum head option • value $150k up
1968/69 435 hp • 2,898 (’68) 2,722 (’69) produced • colors/documentation adds a lot • values $100K up
1970 LT-1 • 1,287 produced • value $60K up
1971 LT-1 • 1,949 produced • value $60K up
1972 LT-1 • 1,741 produced • value $60K up • add air and price soars especially convertibles (less than 50)

footnotes:
A) must be the real deal… not fakes or frauds
B) Colors (Black) adds a lot… must be real factory original body/trim tag
C) Original documentation, history, and Bloomington/NCRS show awards adds a lot,br>
D) Original rare options adds a lot (set of Kelsey bolt-on wheels and red stripe tires sold on eBay in ‘07 for $33K)
E) Original, unrestored in excellent condition adds a lot.
condition based on #1 or #2
F) Caveat Emptor (Buyer Beware). We are adrift in a sea of sharks disguised as mermaids.
G) When it is time to sell… be a smart seller. High-profile events like the Barrett-Jackson and Mecum Muscle Car auctions will get you more money for your car than newspaper and trade publication advertisements. Plan ahead if you’re considering selling your baby: seek good lot numbers (pay a premium if you must) and baby-sit your car during the event to answer questions and show pride in your car – it is a reflection of you, and people simply pay more if they like the seller.
A-E) Equals an overall package and desirables.

Much of information is based on writer’s personal knowledge and prices achieved at high profile public auctions.

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Terry’s A-List (When money is no object)…

Waisner — Fri, 07 Mar 2008 16:57:26 +0000

1963 GRAND SPORT • 5 produced • value $6 million and up (good luck)… none for sale
1969 ZL1 • 2 produced • value $3 million and up (good luck)… none for sale
1967 L-88 • 20 produced • value $1.5 million and up (good luck)… none for sale
1968/69 L-88 • 196 produced • value $350K to $750K (They are out there)
1971 ZR2 • 12 produced • value $350K to $650K (4 known to exist)
1967 L-89 • 16 produced • value $450K to $750K (few known to exist)
1953 BLUE FLAME • 300 produced • value $300K to $500K (VIN 003 sold for $1 million; VIN 005 sold $850K)
1963 Z06/TANKER • 63 produced • value $275K to $400K (add for race history)
1970-’72 ZR1 • 53 produced • value $125K to $200K (few exist)
1971 LS6 • 188 produced • value $125K to $200K (not hard to find)

footnotes:
A) must be the real deal… not fakes or frauds
B) Colors (Black) adds a lot… must be factory original body/trim tag
C) Original documentation, history, and Bloomington/NCRS show awards adds a lot
D) Original rare options adds a lot (set of Kelsey bolt-on wheels & red stripe tires sold on eBay in ‘06 for $33K)
E) Original, unrestored in excellent condition adds a lot.
F) Caveat Emptor (Buyer Beware). We are adrift in a sea of sharks disguised as mermaids.
G) When it is time to sell… be a smart seller. High-profile events like the Barrett-Jackson and Mecum Muscle Car auctions will get you more money for your car than newspaper and trade publication advertisements. Plan ahead if you’re considering selling your baby: seek good lot numbers (pay a premium if you must) and baby-sit your car during the event to answer questions and show pride in your car – it is a reflection of you, and people simply pay more if they like the seller.
A-E Equals an overall package and desirables.

Much of information is based on writer’s personal knowledge and prices achieved at high profile public auctions.

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The January Auctions…

Waisner — Thu, 21 Feb 2008 18:37:22 +0000

This past January I attended eight (8) collector car auctions from Florida to Arizona. They were the Barrett-Jackson, Gooding, ICA, Kruse, Mecum, RM, Russo & Steele, and Silver auctions. We found that the quality of credible Corvette consignments is decreasing year by year as it is becoming more difficult for the auction companies to attract high quality credible Corvette consignments as good cars have been and are being consumed by the end user enthusiasts and car collectors. More on this topic at a later date but your thoughts and comments are, as always, welcomed. email: terry@proteamcorvette.com

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David Burroughs From Bloomington Gold Respond

Waisner — Tue, 12 Feb 2008 17:56:20 +0000

Recently I asked David Burroughs his thoughts as they relate to “When to restore a Corvette”? We have recently sold some historically important unrestored, unmolested, low mile Corvettes that the customers are being urged by third party restoration shops to restore instead of preserve them. David’s response was very enlightening and is a great read if you like words and phrases like, vandalism, preservation, typical factory production, historically accurate, historic perfection, cosmetic perfection, DNA, Survivor®, Benchmark®, desirability, and value. Click here and read “Restore It? Or Not!” by David Burroughs. Any questions or comments email me direct at terry@proteamcorvette.com

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