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What's Happening to Corvette Prices?

Visit these 3 following web sites to see Corvettes for sale pricing
Click here to visit EBayMotors.com
Click here to visit AutoTrader.com
Click here to visit VetteHound.com
Is there a glut of Corvettes for sale now?
My latest visit to EBay Motors revealed over 800 Corvettes for sale. As I visited some other “Corvettes for Sale” web sites I also noticed a large quantity of Corvettes there too. The local newspapers and AutoTrader here have many Corvettes for sale too. With this many Corvettes for sale, it does appear to be a great time to be a serious buyer.
Are Corvettes losing their appeal?
One has to wonder about this question. Does the younger crown desire to someday own a Corvette? A better question may even be “Do younger folks feel they may ever be able to afford one?” And today there is greater competition for the youth market from domestic sports cars and those from Japan and Germany. Go to any local car cruise and see where the young folks gather. And don't forget the impact of the truck and SUV market either.
Do any Corvettes still fetch top dollar?
Sure there are very rare models that command top dollar. But these models are very scarce and those who have the necessary cash are in the driver's seat whenever it comes to price negotiations. Money seems to be very tight today for the average person and many may be postponing buying that secondary pleasure sports car. This same phenomenon occurred in the 1980's and lasted for about 10 years. Many buyers speculated on future prices and were very disappointed as prices suddenly feel for no apparent reason.
What about the average Corvette?
If you visit corvetteforum.com and look at the Corvettes for sale sections, you will notice that most Corvettes are not selling for the prices many sellers had hoped for. Nice ZR1's are going in the low $20,000 range, 1970 Corvettes are plentiful for under $10,000, and C5's have dipped below $20,000 too. Many sellers have had few if any prospective buyers contact them. many average equipped C3's and C4's have dipped below $10,000.
If you are selling an average Corvette, what to do?
My advice is to hang in there and be patient. Your qualified buyer is probably out there looking but it just may not be the right time to part with your Corvette. Pricing trends change and better times may be ahead for Corvette prices. If you can, just drive and enjoy your Corvette until market conditions improve. Many folks mistakenly think that Corvettes are investments which will appreciate in their future ownership. Some may be, but why not just enjoy driving the world's greatest sports car, instead of fretting over current market conditions. I already have decided to hand my pristine 1987 Corvette convertible down to my son rather than to deal with the annoyances of selling it. And then I may be able to upgrade to that new C6 I am really beginning to like.