This week’s wholesale market report should be a fun and insightful one! When I was perusing the list of Texas Corvettes at the largest dealer-only wholesale auction in the country, there was one Z06 after another, and this special Z06 edition was birthed. One of the more remarkable stats from this week’s collection of ten Z06s is that not a single one had an accident on the history report. Just how hot will the Z06s be in Texas? [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.]
You may recall 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%. Will Texas continue to outperform Florida? Let’s dive in!
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.
[12/06/2024 Edition]
Top 10 Special Z06 Edition: Wholesale Auction Activity Report
#10
2008 C6 Z06 Coupe
61,009 Miles
Condition Report: 2.7/5.0
Announcements:
Autocheck History Report: 6 owners, 0 accidents
MMR: $27,800
(MMR=estimated wholesale value, based on vehicle, miles, condition, and recent auction sales)
Historical Wholesale Averages
- Past 30 Days: $31,300 (47,962 average miles)
- 6 Months Ago: $41,000 (16,406 mi)
- Last Year: $34,000 (48,840 mi)
Estimated Retail Value: $33,000
(Based on Cox Automotive retail transactions)
Auction Results: NO SALE
(Insights: With a 2.7/5.0 condition report, it was no surprise this C6 Z06 did not sell. It’s likely the “as-is” announcement and auto-conversion also turned off bidders. The miles are also on the higher side, and received a $3,460 deduction on the MMR.)
#9
2015 C7 Z06 Coupe 3LZ
113,168 Miles
Condition Report: 4.5/5.0
Announcements: Structural alteration
Autocheck History Report: 4 owners, 0 accidents
MMR: $40,600
(MMR=estimated wholesale value, based on vehicle, miles, condition, and recent auction sales)
Historical Wholesale Averages
- Past 30 Days: $65,500 (20,356 average miles)
- 6 Months Ago: $53,400 (51,440 mi)
- Last Year: Not available
Estimated Retail Value: $45,000
(Based on Cox Automotive retail transactions)
Auction Results: NO SALE
(Insights: I’d be willing to surmise this Z06 did not sell due to the high miles, but she sure did look great!)
#8
2016 C7 Z06 Coupe 2LZ
22,251 Miles
Condition Report: 4.4/5.0
Announcements: Clean Carfax
Autocheck History Report: 5 owners, 0 accidents
MMR: $56,200
(MMR=estimated wholesale value, based on vehicle, miles, condition, and recent auction sales)
Historical Wholesale Averages
- Past 30 Days: $53,700 (28,098 average miles)
- 6 Months Ago: $53,100 (39,442 mi)
- Last Year: $55,000 (37,872 mi)
Estimated Retail Value: $62,300
(Based on Cox Automotive retail transactions)
Auction Results: Sold for $55,000
(Insights: Alright, now we are cooking with gas! This was one of six Z06s this seller brought to the Dallas auction, and so far, it looks like he came to sell! )
#7
2019 C7 Z06 Coupe 2LZ
18,906 Miles
Condition Report: 4.5/5.0
Announcements:
Autocheck History Report: 2 owners, 0 accidents
MMR: $63,900
(MMR=estimated wholesale value, based on vehicle, miles, condition, and recent auction sales)
Historical Wholesale Averages
- Past 30 Days: $66,100 (13,312 average miles)
- 6 Months Ago: Not available
- Last Year: $63,500 (22,347 mi)
Estimated Retail Value: $69,900
(Based on Cox Automotive retail transactions)
Auction Results: Sold for $62,500
(Insights: GiveMeTheVin is now two for two! And this Z06 was bought well, at a wholesale cost just under MMR.)
#6
2023 C8 Z06 Convertible 3LZ
744 Miles
Condition Report: 4.9/5.0
Announcements:
Autocheck History Report: 1 owner, 0 accidents
MMR: $125,000
(MMR=estimated wholesale value, based on vehicle, miles, condition, and recent auction sales)
Historical Wholesale Averages
- Past 30 Days: $119,000 (865 average miles)
- 6 Months Ago: $141,000 (1,484 mi)
- Last Year: $147,000 (3,317 mi)
Estimated Retail Value: $138,000
(Based on Cox Automotive retail transactions)
Auction Results: NO SALE
(Insights: Ok, GiveMeTheVin is now two out of three. The Carfax caution may have scared bidders away. We still have five C8 Z06s left. Will the C8 Z06 market be as hot as the C7 was today?)
#5
2023 C8 Z06 Coupe 3LZ
45 Miles
Condition Report: 5.0/5.0
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: $123,000 (2,630 average miles)
- 6 Months Ago: $127,000 (4,408 mi)
- Last Year: $138,000 (1,424 mi)
Estimated Retail Value: $137,000
(Based on Cox Automotive retail transactions)
Auction Results: Sold for $129,500
(Insights: I’m loving this GiveMeTheVin seller, who is now 3/4! And, wow, a 3LZ for $129,500!)
#4
2024 C8 Z06 Coupe 1LZ
1,517 Miles
Condition Report: 4.8/5.0
Announcements: One owner
Autocheck History Report: 1 owner, 0 accidents
MMR: $108,000
(MMR=estimated wholesale value, based on vehicle, miles, condition, and recent auction sales)
Historical Wholesale Averages
- Past 30 Days: $105,000 (7,786 average miles)
- 6 Months Ago: Not available
- Last Year: Not available
Estimated Retail Value: $112,000
(Based on Cox Automotive retail transactions)
Auction Results: NO SALE
(Insights: This C8 Z06 looked good on paper and in the pictures, so it’s likely the seller’s reserve was too high.)
#3
2024 C8 Z06 Convertible 3LZ
1,130 Miles
Condition Report: 3.6/5.0
Announcements: None
Autocheck History Report: 1 owner, 0 accidents
MMR: $121,000
(MMR=estimated wholesale value, based on vehicle, miles, condition, and recent auction sales)
Historical Wholesale Averages
- Past 30 Days: $129,000 (1,938 average miles)
- 6 Months Ago: $142,000 (1,948 mi)
- Last Year: Not available
Estimated Retail Value: $132,000
(Based on Cox Automotive retail transactions)
Auction Results: NO SALE
(Insights: This is a rerun from GM Financial and has now failed to hammer at least four times. The 3.6/5.0 condition report is bewildering, especially since it was a 4.6/5.0 two weeks ago.)
#2
2024 C8 Z06 Coupe 3LZ
21 Miles
Condition Report: 5.0/5.0
Announcements:
Autocheck History Report: 1 owner, 0 accidents
MMR: $120,000
(MMR=estimated wholesale value, based on vehicle, miles, condition, and recent auction sales)
Historical Wholesale Averages
- Past 30 Days: $118,000 (2,904 average miles)
- 6 Months Ago: $133,000 (1,827 mi)
- Last Year: Not available
Estimated Retail Value: $129,000
(Based on Cox Automotive retail transactions)
Auction Results: Sold for $119,500
(Insights: Oh ya, GiveMeTheVin is now four out of five with his Z06 sales! And this one was bought right at MMR!)
#1
2024 C8 Z06 Coupe 3LZ
21 Miles
Condition Report: 5.0/5.0
Announcements:
Autocheck History Report: 1 owner, 0 accidents
MMR: $120,000
(MMR=estimated wholesale value, based on vehicle, miles, condition, and recent auction sales)
Historical Wholesale Averages
- Past 30 Days: $118,000 (2,904 average miles)
- 6 Months Ago: $133,000 (1,827 mi)
- Last Year: Not available
Estimated Retail Value: $129,000
(Based on Cox Automotive retail transactions)
Auction Results: Sold for $131,500
(Insights: I don’t know where this GiveMeTheVin wholesaler came from, but he came to sell! This Z06 was the same year, trim, and miles as number two, but what a difference those carbon fiber wheels and carbon ceramic brakes make!)
Summary: Overall, I would say our first Z06 edition was a success, with 50% selling. And with our worst sales ratio of zero percent just two weeks ago, faith is restored in the Texas wholesale market! With GiveMeTheVin selling five of his six Z06s, it looks like he is the one to watch in the future! 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
- [11/07/2024] Report: 50% Sold
- [11/21/2024] Report: 0% Sold (correct, nothing sold!)
- [Today]: 50% Sold
A big thanks to our faithful CorvSport readers 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
