CorvSport is your go-to place on the internet for actual dealer-to-dealer wholesale reports, and for the last year, our exclusive reports have helped buyers and enthusiasts gain insights into the Corvette wholesale markets that drive retail values. For the first 16 installments, we focused on the Florida wholesale market, which yielded a 30% successful sales ratio. We felt that was a bit low, so we shook things up and moved to the Texas market in October of last year. And to date, Texas has not let us down, with sales hovering around 57%. We’ve included all our reports in the archives below, including a classic/antique edition that yielded 100% in sales–yes, every classic Corvette we covered in this historic sale hammered off to a new dealer. [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 article. One requires two steps–first, the arrow on the left, then the x on the top right.]
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.
