I remain upbeat as we dive into our third week in the Texas market. 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 remained around 30%. With two back-to-back weeks of 60% sales, will Texas continue to outperform Florida? Let’s find out! [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.
[11/07/2024 Edition]
Top 10: Corvette Wholesale Auction Activity Report
#10
2017 C7 Grand Sport Coupe 2LT
56,135 Miles
Condition Report: 4.0/5.0
Announcements: 2LT package, Navigation, 1-owner
Autocheck History Report: 1 owner, 1 accident
MMR: $41,400
(MMR=estimated wholesale value, based on vehicle, miles, condition, and recent auction sales)
Historical Wholesale Averages
- Past 30 Days: $50,000 (29,758 average miles)
- 6 Months Ago: $45,000 (27,293 mi)
- Last Year: $38,800 (71,619 mi)
Estimated Retail Value: $44,900
(Based on Cox Automotive retail transactions)
Auction Results: NO SALE
(Insights: The odds were stacked against this C7, with high miles, an accident, and low condition report.)
#9
2017 C7 Z06 Coupe 2LZ
17,485 Miles
Condition Report: 4.6/5.0
Announcements:
Autocheck History Report: 5 owners, 0 accidents
MMR: $64,200
(MMR=estimated wholesale value, based on vehicle, miles, condition, and recent auction sales)
Historical Wholesale Averages
- Past 30 Days: $65,300 (15,525 average miles)
- 6 Months Ago: Not available
- Last Year: $58,600 (33,985 mi)
Estimated Retail Value: $72,800
(Based on Cox Automotive retail transactions)
Auction Results: Sold for $63,000
(Insights: This C7 Z06 was well bought, especially considering some of the high dollar modifications.)
#8
2019 C7 Grand Sport Coupe 2LT
15,110 Miles
Condition Report: 4.8/5.0
Announcements:
Autocheck History Report: 2 owners, 0 accidents
MMR: $56,800
(MMR=estimated wholesale value, based on vehicle, miles, condition, and recent auction sales)
Historical Wholesale Averages
- Past 30 Days: $51,300 (34,621 average miles)
- 6 Months Ago: $60,500 (19,279 mi)
- Last Year: $58,000 (9,239 mi)
Estimated Retail Value: $60,800
(Based on Cox Automotive retail transactions)
Auction Results: NO SALE
(Insights: The manufacturer’s buyback is what likely scared bidders away from this nice-looking Grand Sport.)
#7
2020 C8 Stingray Coupe 3LT
14,179 Miles
Condition Report: 4.2/5.0
Announcements: 7 day NAAA Silver Certified
Autocheck History Report: 2 owners, 0 accidents
MMR: $59,500
(MMR=estimated wholesale value, based on vehicle, miles, condition, and recent auction sales)
Historical Wholesale Averages
- Past 30 Days: $63,100 (10,964 average miles)
- 6 Months Ago: $67,400 (14,335 mi)
- Last Year: $71,800 (6,974 mi)
Estimated Retail Value: $62,700
(Based on Cox Automotive retail transactions)
Auction Results: NO SALE
(Insights: This C8 looked pretty good on paper and in the pictures, so the seller’s reserve was likely too high.)
#6
2021 C8 Stingray Coupe 2LT
15,362 Miles
Condition Report: 4.9/5.0
Announcements: Green Light
Autocheck History Report: 2 owners, 0 accidents
MMR: $61,700
(MMR=estimated wholesale value, based on vehicle, miles, condition, and recent auction sales)
Historical Wholesale Averages
- Past 30 Days: $61,700 (13,091 average miles)
- 6 Months Ago: $67,200 (12,615 mi)
- Last Year: $69,300 (10,628 mi)
Estimated Retail Value: $66,400
(Based on Cox Automotive retail transactions)
Auction Results: Sold for $61,000
(Insights: My favorite color combo, and purchased right on the money!)
#5
2021 C8 Stingray Coupe 2LT
10,885 Miles
Condition Report: 4.8/5.0
Announcements:
Autocheck History Report: 1 owner, 0 accidents
MMR: $62,500
(MMR=estimated wholesale value, based on vehicle, miles, condition, and recent auction sales)
Historical Wholesale Averages
- Past 30 Days: $61,700 (13,091 average miles)
- 6 Months Ago: $67,200 (12,615 mi)
- Last Year: $69,300 (10,628 mi)
Estimated Retail Value: $67,200
(Based on Cox Automotive retail transactions)
Auction Results: NO SALE
(Insights: During my days as a dealer, when I saw that many announcements hyping up the car, it usually indicated the selling dealer was looking for “top dollar.” This also appears to be an attempt at a flip, as a near identical 2021 C8 sold for $61,000 in Cincinnati last month.)
#4
2023 C8 Stingray Convertible 3LT
3,831 Miles
Condition Report: 4.7/5.0
Announcements: None
Autocheck History Report: 1 owner, 0 accidents
MMR: $77,300
(MMR=estimated wholesale value, based on vehicle, miles, condition, and recent auction sales)
Historical Wholesale Averages
- Past 30 Days: $77,500 (5,463 average miles)
- 6 Months Ago: $86,900 (4,454 mi)
- Last Year: $88,600 (3,519 mi)
Estimated Retail Value: $79,500
(Based on Cox Automotive retail transactions)
Auction Results: NO SALE
(Insights: This C8 had “eyes,” so I’m surprised it was a no-sale. Another one we’ll chalk up to a high reserve.)
#3
2023 C8 Z06 Convertible 3LZ
294 Miles
Condition Report: 4.7/5.0
Announcements:
Autocheck History Report: 1 owner, 0 accidents
MMR: $130,000
(MMR=estimated wholesale value, based on vehicle, miles, condition, and recent auction sales)
Historical Wholesale Averages
- Past 30 Days: $129,000 (2,884 average miles)
- 6 Months Ago: $138,000 (1,779 mi)
- Last Year: Not available
Estimated Retail Value: $143,000
(Based on Cox Automotive retail transactions)
Auction Results: Sold for $123,500
(Insights: I haven’t seen many C8 Z06s hammer at the wholesale auction, and this one was well bought at $6,500 under MMR!)
#2
2024 C8 Stingray Coupe 3LT
4,894 Miles
Condition Report: 4.8/5.0
Announcements:
Autocheck History Report: 1 owner, 0 accidents
MMR: $74,200
(MMR=estimated wholesale value, based on vehicle, miles, condition, and recent auction sales)
Historical Wholesale Averages
- Past 30 Days: $74,800 (2,816 average miles)
- 6 Months Ago: Not available
- Last Year: Not available
Estimated Retail Value: $79,500
(Based on Cox Automotive retail transactions)
Auction Results: Sold for $71,500
(Insights: At $2,700 under MMR, another C8 that was well bought!)
#1
2024 C8 Z06 Coupe 2LZ
4,170 Miles
Condition Report: 4.8/5.0
Announcements:
Autocheck History Report: 1 owner, 0 accidents
MMR: $116,000
(MMR=estimated wholesale value, based on vehicle, miles, condition, and recent auction sales)
Historical Wholesale Averages
- Past 30 Days: $116,000 (1,969 average miles)
- 6 Months Ago: $124,000 (100 mi)
- Last Year: Not available
Estimated Retail Value: $129,000
(Based on Cox Automotive retail transactions)
Auction Results: Sold for $111,500
(Insights: Wow, two C8 Z06 sales in one report! Texas is still impressing.)
Summary: With a 50% sales ratio, the Texas wholesale market continues to outperform Florida. Although, after all three C7s sold in the last report, only one of three sold this week. 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
- [10/25/2024] Report: 60% 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. 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
