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Corvettes Exceed Expectations at RM Auction in Arizona

By February 3, 2010

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As the Arizona collector car auctions got underway this past week, there has been a lot of speculation on whether the economic downturn would affect prices and overall sell-through. Apart from a disastrous storm collapsing tents and delaying the Russo & Steele auction, this auction season does not seem to be affected by the economy.

RM Auctions released their results first, and two Corvettes were among the sales. RM offered 168 cars on the block, and 150 sold for an 89% sell-through at a total value of over $19 Million.

The first 'Vette was a 1959 convertible that rated 970 of 1,000 points at a Bloomington Gold concours, and an NCRS Top Flight certification. The car has just 39,800 miles, according to the seller, and is painted in its original factory colors of Frost Blue with white coves. This Corvette was estimated to sell between $90,000 and $110,000, but bidding reached $121,000 before the gavel fell.

The second Corvette to sell was a 1957 fuel-injected roadster with a past NCRS Top Flight restoration certification. The car is painted in the popular turquoise main color, with white coves. Desirable options on this particular car include fuel injection and a posi-traction rear axle. This 'Vette was projected to sell between $95,000 and $115,000. It sold for $115,500.

I'll have more news from the Arizona auctions as results are released, but it seems clear that quality Corvettes are holding their value this year.

Photos RM Auctions

March 31, 2010 at 5:45 pm
(1) Antiques says:

Thanks for the interesting and informative post. I enjoyed it and look forward to more posts in the future.

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