I’m excited as we head into our second week in the Texas market. As a reminder, we have been in the Florida market since CorvSport began these exclusive wholesale auction market reports in late February. And after 16 reports, Florida sales have hovered around a 30% sales ratio. How will Texas do today? Let’s get after it! [Author’s Note: This article is FREE and not behind a paywall. If/when any popups occur, please click to make them disappear and continue enjoying the feature.]
If you are new to these reports, you will see actual wholesale results from the largest dealer-only wholesale auction in the country below. 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.
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 common 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.
[10/25/2024 Edition]
Top 10: Corvette Wholesale Auction Activity Report
#10
2017 C7 Z06 Coupe 3LZ
22,262 Miles
Condition Report: 4.5/5.0
Announcements:
Autocheck History Report: 1 owner, 0 accidents
MMR: $64,600
(MMR=estimated wholesale value, based on vehicle, miles, condition, and recent auction sales)
Historical Wholesale Averages
- Past 30 Days: $66,900 (15,910 average miles)
- 6 Months Ago: $69,000 (15,786 mi)
- Last Year: $67,300 (9,959 mi)
Estimated Retail Value: $70,300
(Based on Cox Automotive retail transactions)
Auction Results: Sold for $64,500
(Insights: We are off with a bang at our second Texas outing! You’ll notice this wholesale purchase was right “on the money” and in line with MMR. The purchasing dealer got the listed modifications for “free”.)
#9
2019 C7 Grand Sport Coupe 2LT
32,100 Miles
Condition Report: 4.9/5.0
Announcements: Stolen, theft recovery per Autocheck
Autocheck History Report: 2 owners, 2 accidents
MMR: $50,100
(MMR=estimated wholesale value, based on vehicle, miles, condition, and recent auction sales)
Historical Wholesale Averages
- Past 30 Days: $50,000 (32,926 average miles)
- 6 Months Ago: $59,400 (17,095 mi)
- Last Year: $48,000 (57,087 mi)
Estimated Retail Value: $56,500
(Based on Cox Automotive retail transactions)
Auction Results: Sold for $50,250
(Insights: Wow, despite two accidents on the history report with a theft recovery, this Grand Sport still managed to hammer! I’m sure the 4.9 condition report helped.)
#8
2019 C7 Grand Sport Convertible 3LT
16,005 Miles
Condition Report: 4.8/5.0
Announcements: 3LT package, navigation, 1-owner
Autocheck History Report: 1 owner, 1 accident
MMR: $63,000
(MMR=estimated wholesale value, based on vehicle, miles, condition, and recent auction sales)
Historical Wholesale Averages
- Past 30 Days: $64,000 (16,005 average miles)
- 6 Months Ago: $71,000 (6,999 mi)
- Last Year: $65,500 (10,450 mi)
Estimated Retail Value: $70,200
(Based on Cox Automotive retail transactions)
Auction Results: Sold for $64,000
(Insights: Texas is delivering once again! This sharp Grand Sport still brought strong money, over MMR, despite an accident on the Autocheck.)
#7
2021 C8 Stingray Coupe 2LT
53,258 Miles (our 3rd highest, and with an odometer discrepancy!)
Condition Report: 3.0/5.0
Announcements: None
Autocheck History Report: 3 owners, 1 accident
MMR: $45,600
(MMR=estimated wholesale value, based on vehicle, miles, condition, and recent auction sales)
Historical Wholesale Averages
- Past 30 Days: $63,800 (9,843 average miles)
- 6 Months Ago: $66,500 (12,721 mi)
- Last Year: $71,900 (7,948 mi)
Estimated Retail Value: $48,400
(Based on Cox Automotive retail transactions)
Auction Results: NO SALE
(Insights: No surprise on this no-sale. With the higher miles, the odometer discrepancy, the low condition report, and the accident, there are just too many hurdles to overcome in the sales process.)
#6
2022 C8 Stingray Coupe 1LT
16,820 Miles
Condition Report: 4.8/5.0
Announcements: Low miles
Autocheck History Report: 2 owners, 0 accidents
MMR: $58,000
(MMR=estimated wholesale value, based on vehicle, miles, condition, and recent auction sales)
Historical Wholesale Averages
- Past 30 Days: $60,700 (10,765 average miles)
- 6 Months Ago: $64,000 (12,669 mi)
- Last Year: $70,100 (11,340 mi)
Estimated Retail Value: $62,400
(Based on Cox Automotive retail transactions)
Auction Results: Sold for $59,000
(Insights: Another one hammers in Texas and over MMR!)
#5
2023 C8 Stingray Coupe 1LT
12,358 Miles
Condition Report: 4.9/5.0
Announcements:
Autocheck History Report: 2 owners, 0 accidents
MMR: $59,900
(MMR=estimated wholesale value, based on vehicle, miles, condition, and recent auction sales)
Historical Wholesale Averages
- Past 30 Days: $60,600 (10,342 average miles)
- 6 Months Ago: $67,500 (5,007 mi)
- Last Year: $71,900 (2,403 mi)
Estimated Retail Value: $64,800
(Based on Cox Automotive retail transactions)
Auction Results: Sold for $60,000
(Insights: This was a great-looking C8, especially if you like aftermarket wheels. Another one bought right on the money!)
#4
2023 C8 Z06 Coupe 3LZ
5,141 Miles
Condition Report: 5.0/5.0
Announcements: None
Autocheck History Report: 1 owner, 0 accidents
MMR: $122,000
(MMR=estimated wholesale value, based on vehicle, miles, condition, and recent auction sales)
Historical Wholesale Averages
- Past 30 Days: $118,000 (2,521 average miles)
- 6 Months Ago: Not available
- Last Year: $157,000 (1,287 mi)
Estimated Retail Value: $142,000
(Based on Cox Automotive retail transactions)
Auction Results: NO SALE
(Insights: These C8 Z06 sales have been relatively flat, so this no-sale is no surprise.)
#3
2023 C8 Z06 Coupe 3LZ
1,887 Miles
Condition Report: 4.8/5.0
Announcements:
Autocheck History Report: 1 owner, 0 accidents
MMR: $122,000
(MMR=estimated wholesale value, based on vehicle, miles, condition, and recent auction sales)
Historical Wholesale Averages
- Past 30 Days: $118,000 (2,521 average miles)
- 6 Months Ago: Not available
- Last Year: $157,000 (1,287 mi)
Estimated Retail Value: $142,000
(Based on Cox Automotive retail transactions)
Auction Results: Sold for $125,000
(Insights: This is good news for the C8 Z06 market, and MMR looks to be quite accurate.)
#2
2024 C8 Stingray Convertible 3LT
1,149 Miles
Condition Report: 4.8/5.0
Announcements: 1-owner, $109k sticker
Autocheck History Report: 1 owner, 0 accidents
MMR: $81,900
(MMR=estimated wholesale value, based on vehicle, miles, condition, and recent auction sales)
Historical Wholesale Averages
- Past 30 Days: $83,100 (2,358 average miles)
- 6 Months Ago: $93,900 (840 mi)
- Last Year: Not available
Estimated Retail Value: $88,900
(Based on Cox Automotive retail transactions)
Auction Results: NO SALE
(Insights: Everything looked good on paper, and Texas sales have been hot, so we’ll chalk this one up to the seller’s reserve being too high.)
#1
2024 C8 Z06 Convertible 3LZ
1,130 Miles
Condition Report: 4.8/5.0
Announcements: None
Autocheck History Report: 1 owner, 0 accidents
MMR: $129,000
(MMR=estimated wholesale value, based on vehicle, miles, condition, and recent auction sales)
Historical Wholesale Averages
- Past 30 Days: $129,000 (2,910 average miles)
- 6 Months Ago: $144,000 (996 mi)
- Last Year: Not available
Estimated Retail Value: $143,000
(Based on Cox Automotive retail transactions)
Auction Results: NO SALE
(Insights: This was a re-run from two weeks ago when it first failed to sell. It’s time for the dealer to take it back to his lot.)
Summary: Texas is still hot, and this week, it was the C7s that saved the day, with all three selling. This meant only three out of the seven C8s sold. However, Texas is still trending to outperform Florida, which has only managed a 30% sales ratio since we began this exclusive series in late February. 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
- [9/13/2024] Report: 20% Sold
- [9/26/2024] Report: 40% Sold
- We moved to the TEXAS wholesale market!
- [10/11/2024] Report: 60% Sold
- [Today]: 60% 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. This is Douglas B. signing off–click here if you would like to see more of my features.
*All images and information credited to Manheim Auction
