1 Millionth Corvette Prepares For Restoration – Is it Really Worth $750,000?
1 Millionth Corvette Prepares For Restoration – Is it Really Worth $750,000?
I’m sure you’ve heard the old adage, “You can’t appreciate the good without the bad.” If that’s so, then we should be in for one hell of a celebration in the near future as the 1 Millionth Corvette revs up to put its sinkhole-damage days behind it.
The 1992 Corvette, one of the most severely damaged models slated for repair by GM, is just about ready to begin its repair process. To kick things off, GM recently invited media to a special facility in Warren, Michigan before a team of restorers embarked on getting the Corvette back into pristine condition.
The repairs are expected to take a while considering the damage the car suffered, but there’s certainly comfort in knowing the 1 Millionth Corvette, which is valued at $750,000, won’t wind up living out the rest of its days at the museum in its current condition, which would be another catastrophe in and of itself.
Source [CNN.com]
Resident C4 Lover and Editor Manuel Carrillo III Says:
“Hey, I love post-1992 C4s more than most people love their mommas, but $750,000? Surely that valuation is in Pesos. The 1 Millionth C4 is no different than the C4 (VIN# 1G1YY33P0N5114315) that changed my life as a child. The 1 Millionth Corvette represents a huge milestone for the Corvette brand, but the car itself is not that special. What’s special about it is that it was in the news 22 years ago. There was a ceremony for it at the factory … that’s it. Yes, there is a bit of a story around the car, but its not enough to blow its value into the stratosphere. $750,000? Rediculous.
Being the 1 Millionth Corvette should add only $25,000 to the value. I think being involved in the sinkhole situation adds $40,000 to the total price. Kelley Blue Book says a pristine 1992 Corvette Convertible is worth $5,900 … and I’m rounding up. Add all that together, throw in some extra shekels for generosity, and the 1 Millionth Corvette is worth $75,000 in real money … not $750,000.”
Chime in with your thoughts on the forum. >>
