This car is 51 times more expensive than KBB's max appraised value, but the price could still be worth it to the right person.
The Chevrolet Corvette is famous for having a rabid enthusiast following, and specialty dealer Buyavette in Atlanta, Georgia, wants to find one willing to pay $1 million for the final C5 ‘Vette off the assembly line. The video above offers a full tour of the vehicle.
As the last fifth-generation Corvette, this car came loaded with options. It has things like the automatic gearbox, Commemorative Edition package, polished wheels, and head-up display. The vehicle has been in a private collection for years, and the owner never registered it. The car still has the original delivery mileage and the factory plastic protects the cabin. This special ‘Vette is currently on loan at the National Corvette Museum.
According to Kelley Blue Book’s online appraisal tool, a fully loaded 2004 Corvette coupe has a fair market value range from a dealer of $16,614 to $19,363. The private party sale value is $15,015.
But the person buying this car, isn’t getting it just to have a Corvette – especially since the later models offer even better performance. The new owner would likely see this as an undisturbed time capsule. In essence, the person is getting a piece of sculpture because the moment one more mile hits the odometer, the value would start rapidly dropping closer to KBB’s real-world price.
Getting over a million dollars for a Corvette isn’t record breaking, but it’s uncommon. For example, Barrett-Jackson sold one of the 20 L88 ‘Vettes for $3.85 million in 2014, and a L88 convertible went for $3.2 million in 2013. NASCAR team owner Rick Hendrick paid around $1 million each for the 2014 C7 Stingray, 2014 Stingray convertible, and 2015 Z06 – these sales were for charity, though.