Recently, I came across a beat-up Anniversary Edition Corvette on Reddit that appeared to have been parked and forgotten about. It was a sad sight, and the ensuing discussion about its worth piqued my interest and prompted me to take this deeper look into the Anniversary Edition market. Before we jump into the market analysis, CorvSport founder and contributor Scott Kolecki encapsulated the essence of the Anniversary Editions with his deep dive into every model, and it would be a disservice not to include his summary here.
“Although there was a lot of uncertainty about the Corvette’s long-term viability in its early days, the public’s perception of the brand had changed radically by the late 1970s. The Corvette, which was now commonly referred to as “America’s Sports Car,” had gained traction with consumers across North America. It had become known as the car driven by astronauts, celebrities, and people of influence. It had appeared in movies, television programs, and in the lyrics of dozens of songs. Simply – but accurately – put, the Corvette was now synonymous with American culture, and it was a car that countless millions, both young and old, aspired to own. Recognizing Corvette’s success in the marketplace, it was decided that Chevrolet would begin introducing special “Anniversary Editions” of the Corvette, starting in 1978 – the year the brand celebrated its 25th (silver) anniversary.” Read More Here
Methodology
Trying to ascertain the value of a Corvette can be challenging, and it’s certainly not an exact science. Now, the armchair experts on social media will have you think otherwise, as not one day goes by when a group of enthusiasts doesn’t chime in that an asking price is too high (this was especially prevalent when Corvette prices began to escalate exponentially heading into 2020).
But, at the end of the day, “comps” (i.e., previous sales) are the best measure of the market value at any given time, so we will use the top auction platforms to gather our market snapshots–Mecum, Barrett-Jackson, Bring a Trailer and eBay. While not all of these auctions will be used for each Anniversary Edition, we will select the platform that is most representative of each period in history (and eliminate pricing anomalies). We also strived to select examples from each time period that were close in condition, miles, and provenance.
Without further ado, let’s jump into part one of CorvSport’s special Anniversary Edition market analysis!
1) 25th Anniversary: The 1978 Silver Anniversary Edition Corvette
Introduction
“Chevrolet announced that it would commemorate the 25th anniversary of Corvette with a special “silver edition” model. It was one of three, separate models produced that year: the standard production (base) model, the 25th Anniversary Edition, and the Replica Indianapolis 500 Pace Car. Inspired by Bill Mitchell and designed by Jerry Palmer, the 25th-anniversary car was finished in two-tone paint, with the upper section in a bright silver paired with a charcoal gray below the accent line. The two paint colors were separated by a single silver/gray pinstripe that wrapped around the entirety of the car. Special “25th Anniversary Edition” badges were installed on all versions of the 1978 Corvette, regardless of the package. The car’s interior could be ordered with one of three color trims: black, oyster, or red.
Although the 1978 Silver Edition Corvette did not come with any notable mechanical upgrades to differentiate it from its base model and pace car counterparts, all Corvettes that year could be ordered with either the standard L48 V8 rated at 185 horsepower or an upgraded L82 V8 rated at a slightly more stout 220 horsepower. MRSP for the 1978 Silver Edition Corvette was $10,130.85, marking one of the first times that a production Corvette exceeded the $10k threshold.” Read More Here
1978 Silver Anniversary Edition Market Values Over The Years
A) This Year:
- Sales Price: $44,000
- Date of Sale: 5/18/2024
- Unrestored original condition, with the odometer showing 133 miles
- Bloomington Gold, Survivor, and Benchmark Certified
- NCRS Top Flight award
- See more pictures and information directly at Mecum.com
B) 2020-2023:
- Sales Price: $31,000
- Date of Sale: 11/27/2020
- The odometer indicated only 93 miles, and documentation included a build sheet, window sticker, period literature, and a clean Pennsylvania title.
- Power is provided by a 350ci L82 V8 paired with a three-speed automatic transmission and a limited-slip differential.
- This C3 was reportedly placed in long-term storage by its original owner and remained there until July 2020.
- See more pictures and information directly at Bring a Trailer.com
C) Five+ Years Ago:
- Sales Price: $23,100
- Date of Sale: 9/22/2017
- L82 350/220 HP V-8 engine
- Believed to be 9,643 original miles
- Rare Mahogany leather interior and rarely seen 25th Anniversary 5-piece luggage set
- See more pictures and information directly at Mecum.com
2) The 1988 35th Anniversary Edition Corvette
Introduction
“The 1988 35th Anniversary Corvette was introduced on April 1, 1988 at the New York Auto Show. Recognizing that Chevrolet had not produced an anniversary edition Corvette since the 1978 Silver Anniversary Edition model, the team at Corvette developed this car with a special look that differentiated it from all other Corvettes built that year. The 35th Anniversary Edition (RPO Z01) could only be ordered as a coupe. It came finished in Arctic White with a black roof bow, a dark blue acrylic roof panel, and white 17-inch wheels. Further enhancements to the car’s aesthetic included white door handles, white body side moldings, and a white Corvette emblem on the rear of the car.
Unique white cross-flag emblems replaced the standard emblems on the hood, fuel door, and wheel center caps. Custom “35th Anniversary” badging also adorned each of the front fenders above the bodyside vents (located behind the front wheels.) The interior of the 35th Anniversary Corvette received similar treatment (when ordered with option code B18). The cockpit was equipped with white leather seats, white interior door panels, and a two-spoke, white leather-wrapped steering wheel. Black carpet, a black dashboard, and black trim finished the monochromatic signature look of this unique Anniversary Edition Corvette. Each example was priced at an MSRP of $34,284.00.” Read More Here
1988 35th Anniversary Edition Market Values Over The Years
A) This Year:
- Sales Price: $44,000
- Date of Sale: April 2024
- 142 actual miles
- One of 2,050 35th Anniversary Editions built in 1988
- It has earned both a Bloomington Gold and NCRS Top Flight award
- See more pictures and information directly at Barrett-Jackson.com
B) 2020-2023:
- Sales Price: $57,200
- Date of Sale: 5/14/2022
- Only 119 miles
- Bloomington Gold Certified with an NCRS Top Flight award
- Special Doug Nash 4+3 transmission
- See more pictures and information directly at Mecum.com
C) Five+ Years Ago:
- Sales Price: $41,800
- Date of Sale: 1/24/2015
- 9 actual miles
- Never been dealer-prepped
- The steering wheel wrap and seat plastic were not removed
- 2,050 total production in 1988
- See more pictures and information directly at Mecum.com
Thanks for joining CorvSport for this trip down Anniversary Lane. Did any of the market trends surprise you? Be sure to tune in next week for part two, where we look at the 40th and 50th Anniversary Editions. 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.
