On our last wholesale auction market report from August 31st, just 10% of the Corvettes we featured in our exclusive series hammered off to a new dealer. If you are new to these reports, below you will see actual wholesale results from the largest dealer-only wholesale auction in the country. Whether you are shopping or just curious, this data will be very insightful for any enthusiast. While not an exhaustive list, each episode will give a look into market trends and 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.
A Quick Review Of 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.
[9/13/2024 Edition]
Top 10: Corvette Wholesale Auction Activity Report
#10
2016 C7 Z06 Coupe 2LZ
16,978 Miles
Condition Report: 4.9/5.0
Announcements: None
Autocheck History Report: 3 owners, 0 accidents
MMR: $62,000
(MMR=estimated wholesale value, based on vehicle, miles, condition, and recent auction sales)
Historical Wholesale Averages
- Past 30 Days: $56,500 (22,762 average miles)
- 6 Months Ago: $59,400 (27,957 mi)
- Last Year: $71,100 (12,737 mi)
Estimated Retail Value: $69,800
(Based on Cox Automotive retail transactions)
Auction Results: NO SALE
(Insights: This Z06 looked great on paper, so the seller’s reserve was likely too high.)
#9
2019 C7 Stingray Z51 Convertible 2LT
13,014 Miles
Condition Report: 4.6/5.0
Announcements: 3rd party seller
Autocheck History Report: 2 owners, 1 accident
MMR: $52,700
(MMR=estimated wholesale value, based on vehicle, miles, condition, and recent auction sales)
Historical Wholesale Averages
- Past 30 Days: $51,000 (13,009 average miles)
- 6 Months Ago: Not available
- Last Year: Not available
Estimated Retail Value: $55,400
(Based on Cox Automotive retail transactions)
Auction Results: NO SALE
(Insights: With an accident on the history report, it’s possible the repair was noticeable, and the seller’s reserve was not in line with the condition.)
#8
2019 C7 ZR1 Coupe 3ZR
4,424 Miles
Condition Report: 4.4/5.0
Announcements:
Autocheck History Report: 2 owners, 0 accidents
MMR: $134,000
(MMR=estimated wholesale value, based on vehicle, miles, condition, and recent auction sales)
Historical Wholesale Averages
- Past 30 Days: Not available
- 6 Months Ago: $133,000 (11,929 mi)
- Last Year: Not available
Estimated Retail Value: $154,000
(Based on Cox Automotive retail transactions)
Auction Results: NO SALE
(Insights: The modifications likely led to this no-sale, and/or the seller was too optimistic about what she would fetch.)
#7
2020 C8 Stingray Coupe 1LT
17,695 Miles
Condition Report: 4.7/5.0
Announcements: None
Autocheck History Report: 2 owners, 0 accidents
MMR: $57,400
(MMR=estimated wholesale value, based on vehicle, miles, condition, and recent auction sales)
Historical Wholesale Averages
- Past 30 Days: $59,200 (17,047 average miles)
- 6 Months Ago: $63,500 (11,143 mi)
- Last Year: $65,200 (4,928 mi)
Estimated Retail Value: $63,000
(Based on Cox Automotive retail transactions)
Auction Results: NO SALE
(Insights: We are starting off just as cold as the 8/31 report!)
#6
2020 C8 Stingray Coupe 2LT
5,606 Miles
Condition Report: 5.0/5.0
Announcements:
Autocheck History Report: 1 owner, 0 accidents
MMR: $65,500
(MMR=estimated wholesale value, based on vehicle, miles, condition, and recent auction sales)
Historical Wholesale Averages
- Past 30 Days: $64,200 (11,341 average miles)
- 6 Months Ago: $66,500 (10,008 mi)
- Last Year: $70,900 (17,561 mi)
Estimated Retail Value: $68,600
(Based on Cox Automotive retail transactions)
Auction Results: Sold for $64,500
(Insights: Our first sale, and well bought at $1000 under MMR!)
#5
2022 C8 Stingray Convertible 2LT
11,562 Miles
Condition Report: 4.8/5.0
Announcements: Clean Carfax, navigation, carbon flash package
Autocheck History Report: 2 owners, 1 accident
*Only one picture was provided
MMR: $68,300
(MMR=estimated wholesale value, based on vehicle, miles, condition, and recent auction sales)
Historical Wholesale Averages
- Past 30 Days: $71,500 (5,776 average miles)
- 6 Months Ago: $72,800 (14,926 mi)
- Last Year: $81,000 (3,067 mi)
Estimated Retail Value: $73,200
(Based on Cox Automotive retail transactions)
Auction Results: Sold for $70,000
(Insights: The C8s are on a roll today! This 2LT brought strong money at $1,700 above MMR.)
#4
2023 C8 Stingray Convertible 2LT
8,592 Miles
Condition Report: 4.9/5.0
Announcements: None
Autocheck History Report: 2 owners, 0 accidents
MMR: $73,500
(MMR=estimated wholesale value, based on vehicle, miles, condition, and recent auction sales)
Historical Wholesale Averages
- Past 30 Days: $74,200 (8,772 average miles)
- 6 Months Ago: $78,800 (4,081 mi)
- Last Year: $86,600 (3,960 mi)
Estimated Retail Value: $80,700
(Based on Cox Automotive retail transactions)
Auction Results: NO SALE
(Insights: Maybe it was the yellow turned off bidders, but this C8 looks hot! I’m surprised it did not sell.)
#3
2024 C8 Stingray Convertible 1LT
1,604 Miles
Condition Report: 4.6/5.0
Announcements: None
Autocheck History Report: 1 owner, 0 accidents
MMR: $70,900
(MMR=estimated wholesale value, based on vehicle, miles, condition, and recent auction sales)
Historical Wholesale Averages
- Past 30 Days: $72,500 (1,157 average miles)
- 6 Months Ago: $76,300 (642 mi)
- Last Year: Not available
Estimated Retail Value: $77,500
(Based on Cox Automotive retail transactions)
Auction Results: NO SALE
(Insights: This is a sharp-looking 2024 Convertible, so the no-sale is likely due to the low condition report.)
#2
2024 C8 E-Ray Convertible 3LZ
51 Miles
Condition Report: 5.0/5.0
Announcements: None
Autocheck History Report: 1 owner, 0 accidents
MMR: Not Available due to limited transactions
(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: We’ve highlighted several E-Rays on our wholesale reports, and not a single one has sold yet.)
#1
2024 C8 Z06 Coupe 3LZ
21 Miles
Condition Report: 5.0/5.0
Announcements: 3rd party seller
Autocheck History Report: 1 owner, 0 accidents
MMR: $133,000
(MMR=estimated wholesale value, based on vehicle, miles, condition, and recent auction sales)
Historical Wholesale Averages
- Past 30 Days: $132,000 (680 average miles)
- 6 Months Ago: Not available
- Last Year: Not available
Estimated Retail Value: $139,000
(Based on Cox Automotive retail transactions)
Auction Results: NO SALE
(Insights: Well, I had high hopes either the E-Ray or Z06 would sell, but these 2024 models are falling flat across the board.)
Summary: So, CorvSport readers, are there any surprises? With just 20% selling, I think we can officially say the wholesale Corvette market has cooled off as we head out of summer. But at least we beat that dismal 10% sales ratio from our last report! Thanks for joining CorvSport today, and 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
- [8/02/2024] Report: 50% Sold
- [8/15/2024] Report: 20% Sold
- [8/31/2024] Report: 10% Sold
- [Today]: 20% 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 171,000 followers (52,000 since January 2023!). Come join other hardcore enthusiasts and say hello, Douglas B.
*All images and information credited to Manheim Auction
