Welcome to this week’s installment of CorvSport’s unique (and exclusive) series, where we analyze the Corvette wholesale market bi-monthly to help our faithful readers gain negotiating leverage while shopping. While not an exhaustive list, each episode will give insights into market trends for the Corvette shopper (and curious enthusiasts who like to follow the market). Our analysis will also include historical wholesale averages, along with the Cox Automotive estimated retail values. We also track the sales ratios for each bi-monthly report, which are included in our summary section below.
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 a common practice for dealers to dump problem (or slow-selling) units at an auction.
For fun (and insights), you can 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.
[5/10/2024 Edition] Top 10: Corvette Auction Activity Report
#10
2015 C7 Z06 Coupe 2LZ
39,951 Miles
Condition Report: 5.0/5.0
Announcements: Wrapped vehicle: Black
Autocheck History Report: 5 owners, 2 accidents
MMR: $54,400
(MMR=estimated wholesale value, based on vehicle, miles, condition, and recent auction sales)
Historical Wholesale Averages
- Past 30 Days: $64,000 (18,453 average miles)
- 6 Months Ago: $51,000 (47,175 mi)
- Last Year: $57,400 (38,322 mi)
Estimated Retail Value: $57,100
(Based on Cox Automotive retail transactions)
Auction Results: NO SALE
(Insights: The two accidents and wrap that hid the paint condition likely killed interest in this C7 Z06.)
#9
2019 C7 Grand Sport Coupe 2LT
89,038 Miles
Condition Report: 4.8/5.0
Announcements: Navi & removable top, HUD, heated/cooled seats, backup camera
Autocheck History Report: 3 owners, 3 accidents
MMR: $51,000
(MMR=estimated wholesale value, based on vehicle, miles, condition, and recent auction sales)
Historical Wholesale Averages
- Past 30 Days: $59,400 (16,994 average miles)
- 6 Months Ago: $58,000 (9,239 mi)
- Last Year: $67,700 (4,112 mi)
Estimated Retail Value: $52,800
(Based on Cox Automotive retail transactions)
Auction Results: Sold for $45,950
(Insights: This sale surprised me, given that reselling a Corvette with 3 accidents (and nearly 100,000 miles) is a daunting task. Well bought, at over $5000 under MMR.)
#8
2019 C7 Stingray Coupe 3LT
48,691 Miles
Condition Report: 2.5/5.0
Announcements: None
Autocheck History Report: 2 owners, 1 accident
MMR: $35,500
(MMR=estimated wholesale value, based on vehicle, miles, condition, and recent auction sales)
Historical Wholesale Averages
- Past 30 Days: $40,600 (39,235 average miles)
- 6 Months Ago: Not available
- Last Year: Not available
Estimated Retail Value: $41,000
(Based on Cox Automotive retail transactions)
Auction Results: Sold for $37,750
(Insights: This was another surprise sale, given the slightly higher miles, low condition report, and accident on the history report.)
#7
2019 C7 Stingray Coupe 2LT
27,071 Miles
Condition Report: 4.6/5.0
Announcements: None
Autocheck History Report: 1 owner, 1 accident
MMR: $46,600
(MMR=estimated wholesale value, based on vehicle, miles, condition, and recent auction sales)
Historical Wholesale Averages
- Past 30 Days: $51,400 (16,429 average miles)
- 6 Months Ago: Not available
- Last Year: $44,600 (34,397 mi)
Estimated Retail Value: $50,000
(Based on Cox Automotive retail transactions)
Auction Results: NO SALE
(Insights: This one looked pretty good on paper, so the seller’s reserve was likely too high.)
#6
2021 C8 Stingray Coupe 1LT
19,372 Miles
Condition Report: 4.4/5.0
Announcements: None
Autocheck History Report: 6 owners, 0 accidents
MMR: $58,700
(MMR=estimated wholesale value, based on vehicle, miles, condition, and recent auction sales)
Historical Wholesale Averages
- Past 30 Days: $59,600 (16,897 average miles)
- 6 Months Ago: $64,800 (6,514 mi)
- Last Year: $71,800 (12,842 mi)
Estimated Retail Value: $65,700
(Based on Cox Automotive retail transactions)
Auction Results: NO SALE
(Insights: With 6 owners, a dinged condition report, and base trim, it’s no surprise this one did not sell.)
#5
2022 C8 Stingray Convertible 3LT
2,716 Miles
Condition Report: 5.0/5.0
Announcements: None
Autocheck History Report: 1 owner, 0 accidents
MMR: $83,100
(MMR=estimated wholesale value, based on vehicle, miles, condition, and recent auction sales)
Historical Wholesale Averages
- Past 30 Days: $81,100 (5,753 average miles)
- 6 Months Ago: $82,900 (9,734 mi)
- Last Year: $95,100 (5,637 mi)
Estimated Retail Value: $85,800
(Based on Cox Automotive retail transactions)
Auction Results: Sold for $80,000
(Insights: This HTC was well bought, at over $3000 under MMR. So far, sales are hot this week!)
#4
2023 C8 Stingray Convertible 3LT
17,079 Miles
Condition Report: 4.5/5.0
Announcements: None
Autocheck History Report: 1 owner, 1 accident
MMR: $80,900
(MMR=estimated wholesale value, based on vehicle, miles, condition, and recent auction sales)
Historical Wholesale Averages
- Past 30 Days: $87,300 (3,318 average miles)
- 6 Months Ago: $88,600 (3,519 mi)
- Last Year: $102,000 (2,545 mi)
Estimated Retail Value: $86,200
(Based on Cox Automotive retail transactions)
Auction Results: NO SALE
(Insights: The accident and dinged condition report likely scared off bidders.)
#3
2023 C8 Stingray Coupe 1LT
3,850 Miles
Condition Report: 4.8/5.0
Announcements: None
Autocheck History Report: 1 owner, 0 accidents
MMR: $67,100
(MMR=estimated wholesale value, based on vehicle, miles, condition, and recent auction sales)
Historical Wholesale Averages
- Past 30 Days: $67,800 (4,001 average miles)
- 6 Months Ago: $70,300 (2,580 mi)
- Last Year: $79,400 (1,884 mi)
Estimated Retail Value: $70,000
(Based on Cox Automotive retail transactions)
Auction Results: Sold for $67,800
(Insights: A pretty strong sale for a 1-year-old 1LT. Bought right on the money.)
#2
2024 C8 Z06 Coupe 3LZ
190 Miles
Condition Report: 5.0/5.0
Announcements: 3rd party seller
Autocheck History Report: 1 owner, 0 accidents
MMR: Not Available
(MMR=estimated wholesale value, based on vehicle, miles, condition, and recent auction sales)
Historical Wholesale Averages
- Past 30 Days: Not available
- 6 Months Ago: Not available
- Last Year: Not available
Estimated Retail Value: Not Available
(Based on Cox Automotive retail transactions)
Auction Results: Sold for $134,000
(Insights: This Z06 was so new none of the standard numbers were available.)
#1
2024 C8 E-Ray Convertible 2LZ
19 Miles
Condition Report: 5.0/5.0
Announcements: None
Autocheck History Report: 1 owner, 0 accidents
MMR: Not Available
(MMR=estimated wholesale value, based on vehicle, miles, condition, and recent auction sales)
Historical Wholesale Averages
- Past 30 Days: Not available
- 6 Months Ago: Not available
- Last Year: Not available
Estimated Retail Value: Not Available
(Based on Cox Automotive retail transactions)
Auction Results: NO SALE
(Insights: Unsurprisingly, these E-Ray flips are flopping; we can add this one to the list.)
Summary: After a flat sales week on our last report, we now have the best sales ratio to date, with 50% selling! Things appear to be heating up as summer arrives.
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
- [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 173,000 followers (54,000 since January 2023!). Come join other hardcore enthusiasts and say hello, Douglas B.
*All images and information credited to Manheim Auction
ICYMI: Bonus Feature
Deeper Dive: The 2024 Market for the C5-C8
