This Week's Top Corvette Wholesale Auction Sales And Those That Failed To Sell

Hello, readers, and thanks for joining us for another installment of CorvSport’s unique (and exclusive) bi-monthly series, where we analyze the Corvette wholesale market to help our faithful readers gather data while shopping. While not an exhaustive list, each episode will give insights into market trends for the Corvette shopper (and curious enthusiasts who like to follow the market). Our analysis will also include historical wholesale averages, along with the Cox Automotive estimated retail values. We also track the sales ratios for each bi-monthly report, which are included in our summary section below.

The Process:

In preparation for each installment, I start a list of Corvettes from that week’s runlist that catch my eye. As a retired owner/operator of a used car dealership, I’ll use my 17 years of experience (and industry access) to give you insights into the market. My search is focused on the nation’s largest dealer-only wholesale auction, and all the Corvettes featured are from the Florida market. Corvettes end up at a dealer-only wholesale auction for many reasons, but most are trade-ins that the dealer decided not to retail on their lot. Some may also be repossessions or coming off leases. It’s also a common practice for dealers to dump problem (or slow-selling) units at an auction.

For Fun (and Insights):

Compare the MMR (estimated wholesale value) to the actual hammer price (if sold). It’s also interesting to compare the wholesale purchase price (if it sells) to the Cox Automotive estimated retail value, as this will give you an idea of the margins used-car dealerships are working with.

[8/02/2024 Edition]

Top 10: Corvette Wholesale Auction Activity Report

#10

2019 C7 Stingray Coupe 1LT

19,799 Miles

Condition Report: 4.7/5.0

Announcements: None

Autocheck History Report: 2 owners, 0 accidents

MMR: $45,700

(MMR=estimated wholesale value, based on vehicle, miles, condition, and recent auction sales)

Historical Wholesale Averages

Past 30 Days: $36,900 (50,350 average miles)
6 Months Ago: $43,600 (15,249 mi)
Last Year: $46,600 (17,505 mi)

Estimated Retail Value: $51,500

(Based on Cox Automotive retail transactions)

Auction Results: NO SALE

(Insights: This may have been an attempted flip, as this 2019 C7 appears to have sold at the Jacksonville Manheim for $43,000 on 7/18/2024. This new seller’s reserve was likely too high to make the flip work.)

#9

2019 C7 Grand Sport Convertible 2LT

5,207 Miles

Condition Report: 4.5/5.0

Announcements: 3rd party seller

Autocheck History Report: 2 owners, 1 accident

MMR: Not Available (due to limited transaction data)

(MMR=estimated wholesale value, based on vehicle, miles, condition, and recent auction sales)

Historical Wholesale Averages

Past 30 Days: Not available
6 Months Ago: Not available
Last Year: Not available

Estimated Retail Value: Not Available

(Based on Cox Automotive retail transactions)

Auction Results: NO SALE

(Insights: Interestingly, this exact year and trim has not sold at any Manheim since March of 2024.)

#8

2020 C8 Stingray Coupe 2LT

1,988 Miles

Condition Report: 4.8/5.0

Announcements: None

Autocheck History Report: 1 owner, 0 accidents

MMR: $69,700

(MMR=estimated wholesale value, based on vehicle, miles, condition, and recent auction sales)

Historical Wholesale Averages

Past 30 Days: $64,900 (9,368 average miles)
6 Months Ago: $63,000 (15,014 mi)
Last Year: $73,300 (14,828 mi)

Estimated Retail Value: $71,300

(Based on Cox Automotive retail transactions)

Auction Results: NO SALE

(Insights: This is a good-looking first-year C8 with low miles, so we can likely blame the seller’s reserve for being too high.)

#7

2021 C8 Stingray Coupe 2LT

26,712 Miles

Condition Report: 4.8/5.0

Announcements: 3rd party seller

Autocheck History Report: 1 owner, 0 accidents

MMR: $63,600

(MMR=estimated wholesale value, based on vehicle, miles, condition, and recent auction sales)

Historical Wholesale Averages

Past 30 Days: $66,800 (12,827 average miles)
6 Months Ago: $66,500 (13,716 mi)
Last Year: $73,300 (18,834 mi)

Estimated Retail Value: $65,700

(Based on Cox Automotive retail transactions)

Auction Results: Sold for $63,800

(Insights: Our first sale, and my favorite color combo, “resell red,” as we dealers used to say. But look at the slim margins between the wholesale purchase price and the estimated retail value!)

#6

2021 C8 Stingray Coupe 2LT

3,301 Miles

Condition Report: 5.0/5.0

Announcements: 3rd party seller

Autocheck History Report: 1 owner, 0 accidents

MMR: $70,000

(MMR=estimated wholesale value, based on vehicle, miles, condition, and recent auction sales)

Historical Wholesale Averages

Past 30 Days: $66,800 (12,827 average miles)
6 Months Ago: $66,500 (13,716 mi)
Last Year: $73,300 (18,834 mi)

Estimated Retail Value: $72,200

(Based on Cox Automotive retail transactions)

Auction Results: Sold for $67,250

(Insights: We’re on a roll! Which 2021 2LT Coupe would you have purchased, the resell red unit for nearly $4000 less, but with much higher miles, or this low-mileage example?)

#5

2022 C8 Stingray Convertible 2LT

21,756 Miles

Condition Report: 2.9/5.0

Announcements: None

Autocheck History Report: 2 owners, 0 accidents

MMR: $55,300

(MMR=estimated wholesale value, based on vehicle, miles, condition, and recent auction sales)

Historical Wholesale Averages

Past 30 Days: $69,000 (9,123 average miles)
6 Months Ago: $67,400 (20,326 mi)
Last Year: $81,700 7,534( mi)

Estimated Retail Value: $60,700

(Based on Cox Automotive retail transactions)

Auction Results: Sold for $55,600

(Insights: The C8s are hot today! Despite the higher miles and the lowest condition report I’ve seen to date on a C8, this unit hammered off to a new owner! GM Finacial was ready to dump her.)

#4

2022 C8 Stingray Coupe 2LT

2,131 Miles

Condition Report: 5.0/5.0

Announcements: None

Autocheck History Report: 1 owner, 0 accidents

MMR: $71,400

(MMR=estimated wholesale value, based on vehicle, miles, condition, and recent auction sales)

Historical Wholesale Averages

Past 30 Days: $65,500 (10,860 average miles)
6 Months Ago: $67,800 (13,613 mi)
Last Year: $75,400 (8,733 mi)

Estimated Retail Value: $78,100

(Based on Cox Automotive retail transactions)

Auction Results: Sold for $66,500

(Insights: At nearly $5000 under MMR, one of the best buys I’ve seen since doing these reports–perhaps it was the color??)

#3

2023 C8 Stingray Convertible 3LT

3,909 Miles

Condition Report: 5.0/5.0

Announcements:

Autocheck History Report: 1 owner, 0 accidents

MMR: $81,800

(MMR=estimated wholesale value, based on vehicle, miles, condition, and recent auction sales)

Historical Wholesale Averages

Past 30 Days: $81,500 (5,225 average miles)
6 Months Ago: $86,200 (4,639 mi)
Last Year: $95,100 (1,155 mi)

Estimated Retail Value: $88,300

(Based on Cox Automotive retail transactions)

Auction Results: Sold for $84,500

(Insights: Wow, five straight C8 sales! This unit was loaded up!)

#2

2023 C8 Z06 Convertible 3LZ

2,154 Miles

Condition Report: 4.8/5.0

Announcements: Rare 70th Anniversary Z07 package, HTC

Autocheck History Report: 1 owner, 0 accidents

MMR: $134,000

(MMR=estimated wholesale value, based on vehicle, miles, condition, and recent auction sales)

Historical Wholesale Averages

Past 30 Days: $134,000 (1,600 average miles)
6 Months Ago: $151,000 (1,447 mi)
Last Year: $185,000 (1,287 mi)

Estimated Retail Value: $153,000

(Based on Cox Automotive retail transactions)

Auction Results: NO SALE

(Insights: This dealer attempted to wholesale this about two weeks ago and is still not having any luck. His reserve is likely too high, time to throw it back on the lot.)

#1

2024 C8 Stingray Convertible 2LT

3,176 Miles

Condition Report: 4.8/5.0

Announcements: None

Autocheck History Report: 2 owners, 0 accidents

MMR: $81,100

(MMR=estimated wholesale value, based on vehicle, miles, condition, and recent auction sales)

Historical Wholesale Averages

Past 30 Days: $82,000 (1,547 average miles)
6 Months Ago: $86,300 (2,012 mi)
Last Year: Not available

Estimated Retail Value: $86,000

(Based on Cox Automotive retail transactions)

Auction Results: NO SALE

(Insights: This is another rerun. Time for the dealer to put it back on their lot.)

Summary: Whew, we were so close to tying (or beating) our 60% sales ratio from 6/07/2024! Nevertheless, we logged a solid 50% sales ratio, all coming from the C8s! Thanks for joining CorvSport. We’ll see you in two weeks!

Sales Ratio Tracker (click date for report archives):

[2/29/2024] Report: 30% Sold
[3/13/2024] Report: 30% Sold
[3/27/2024] Report: 10% Sold
[4/12/2024] Report: 40% Sold
[4/26/2024] Report: 10% Sold
[5/10/2024] Report: 50% Sold
[5/23/2024] Report: 50% Sold
[6/07/2024] Report: 60% Sold
[6/21/2024] Report: 40% Sold
[7/03/2024] Report: 20% Sold
[7/17/2024] Report: 20% Sold
[Today]: 50% Sold

Thanks for checking out our exclusive wholesale report. If you want to keep up to date with all the fresh Corvette news and maintain a pulse on the lifestyle and culture of this exciting, iconic brand, CorvSport has the fastest-growing Corvette community on our Facebook page, with over 172,000 followers (53,000 since January 2023!). Come join other hardcore enthusiasts and say hello, Douglas B.

*All images and information credited to Manheim Auction