Become a premium member for just $35/year and get ad-free access!
Douglas Barton·
Auctions
·

Corvette Wholesale Market Report: An E-Ray, High-Mileage C7, & C5 Pace Car, To Name A Few

Today, we have an eclectic mix of Corvettes at the dealer-to-dealer wholesale auction, including an E-Ray, C8 Z06, two C7s, and a 1998 Pace Car. How many will sell?

Will this 2024 E-Ray sell at the wholesale auction? Photo Credit: Manheim

CorvSport is your go-to place on the internet for actual dealer-to-dealer wholesale reports, and for the last year, our exclusive reports have helped buyers and enthusiasts gain insights into the Corvette wholesale markets that drive retail values. For the first 16 installments, we focused on the Florida wholesale market, which yielded a 30% successful sales ratio. We felt that was a bit low, so we shook things up and moved to the Texas market in October of last year. And to date, Texas has not let us down, with sales hovering around 57%. We’ve included all our reports in the archives below, including a classic/antique edition that yielded 100% in sales–yes, every classic Corvette we covered in this historic sale hammered off to a new dealer. [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 article. One requires two steps–first, the arrow on the left, then the x on the top right.]

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.

[2/27/2025 Edition]

Top 7: Wholesale Dealer-Only Auction Activity Report

#7

1998 C5 Corvette Convertible Pace Car

39,313 Miles

Condition Report: None provided

Announcements: 6-speed

Autocheck History Report: 3 owners, 0 accidents

MMR: $13,450

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

Historical Wholesale Averages

  • Past 30 Days: $14,000 (46,673 average miles)
  • 6 Months Ago: $11,300 (66,130 mi)
  • Last Year: $12,350 (54,661 mi)

Estimated Retail Value: $16,650

(Based on Cox Automotive retail transactions)

Auction Results: Sold for $19,200

(Insights: This was a solid wholesale number for the old C5 Pace Car. It’s worth noting that these wholesale and retail numbers provided by Manheim are for non-Pace Car trims.)

#6

2015 C7 Stingray Convertible 3LT

80,802 Miles

Condition Report: 4.6/5.0

Announcements:

Autocheck History Report: 1 owner, 0 accidents

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: $33,300 (80,802 average miles)
  • 6 Months Ago: Not available
  • Last Year: $41,000 (31,310 mi)

Estimated Retail Value: Not Available

(Based on Cox Automotive retail transactions)

Auction Results: Sold for $33,250

(Insights: What a surprise! Despite having a minor Carfax caution announcement and the higher miles, this C7 is on its way to a new dealer. I chose this C7 because it’s “resell-red,” and once again, the old used-car dealer mantra proved true.)

#5

2015 C7 Stingray Coupe 1LT

40,468 Miles

Condition Report: 4.8/5.0

Announcements: None

Autocheck History Report: 4 owners, 0 accidents

MMR: $32,800

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

Historical Wholesale Averages

  • Past 30 Days: $29,100 (51,351 average miles)
  • 6 Months Ago: $33,500 (49,182 mi)
  • Last Year: $32,900 (41,398 mi)

Estimated Retail Value: $39,700

(Based on Cox Automotive retail transactions)

Auction Results: NO SALE

(Insights: This was one of the sharper-looking Corvettes from today’s report, and it looked good on paper, so it’s likely the selling dealer’s reserve was too high.)

#4

2022 C8 Stingray Convertible 3LT

19,314 Miles

Condition Report: 5.0/5.0

Announcements:

Autocheck History Report: 2 owners, 0 accidents

MMR: $67,000

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

Historical Wholesale Averages

  • Past 30 Days: $70,700 (11,186 average miles)
  • 6 Months Ago: $73,300 (10,683 mi)
  • Last Year: $78,600 (11,960 mi)

Estimated Retail Value: $70,400

(Based on Cox Automotive retail transactions)

Auction Results: Sold for $66,750

(Insights: This black beauty was well bought at just under MMR. Still, you can see the margin between acquisition price and the estimated retail value is tight.)

#3

2023 C8 Z06 Coupe 3LZ

10,918 Miles

Condition Report: 4.8/5.0

Announcements:

Autocheck History Report: 2 owners, 0 accidents

MMR: $118,000

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

Historical Wholesale Averages

  • Past 30 Days: $123,000 (7,010 average miles)
  • 6 Months Ago: $120,000 (4,491 mi)
  • Last Year: $144,000 (90 mi)

Estimated Retail Value: $123,000

(Based on Cox Automotive retail transactions)

Auction Results: Sold for $124,000

(Insights: As we used to say in the business, this unit has “eyes.” And as you can see, the bidding and final sale price blew past the MMR and estimated retail value! It’s also interesting to note that the Dupont Registry was listed as the seller–I’ve never seen that at a wholesale auction.)

#2

2024 C8 Stingray Convertible 3LT

1,335 Miles

Condition Report: 4.6/5.0

Announcements: None

Autocheck History Report: 1 owner, 0 accidents

MMR: $80,600

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

Historical Wholesale Averages

  • Past 30 Days: $78,500 (2,799 average miles)
  • 6 Months Ago: $85,000 (2,891 mi)
  • Last Year: $95,400 (1,617 mi)

Estimated Retail Value: $85,100

(Based on Cox Automotive retail transactions)

Auction Results: NO SALE

(Insights: This C8 looked pretty sharp, but that 4.6 condition report may have turned off bidders.)

#1

2024 C8 E-Ray Convertible 3LZ

823 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: $113,000 (2,642 average miles)
  • 6 Months Ago: Not available
  • Last Year: Not available

Estimated Retail Value: Not Available

(Based on Cox Automotive retail transactions)

Auction Results: Sold for $112,000

(Insights: Seeing an E-Ray at the wholesale auction is rare, and witnessing one sell is even more rare!)

Summary: Well, look at that! Today’s 71% sales ratio beat all of Florida’s 16 installments and is in the top three for Texas! Texas was hot–is this a sign that the Corvette market is heating up for some summer fun?!? Thanks for joining CorvSport today, and we’ll see you in two weeks!

Sales Ratio Tracker (click date for report archives):

As always, thanks for being a faithful CorvSport reader! Are you CORVETTE OBSESSED like we are? The team of renowned authors and contributors at CorvSport hopes you sense our passion for the iconic Corvette, and our vast database of articles and guides should prove it–5000+ features since Scott Kolecki founded CorvSport over 15 years ago! Join the fastest-growing Corvette community on our Facebook page, with over 171,000 followers (52,000 since January 2023!). Meet 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

Tags
Related
Show Comments (0)

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.