Barn Find: '89 Corvette, 67 No-Owner Miles
12-29-12, 02:28 AM
#1
Out of Warranty
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Barn Find: '89 Corvette, 67 No-Owner Miles
A Sherman Oaks car dealer purchased it at auction and sold it on eBay to a collector. The car was exceptionally clean with only 67 miles on it, and never registered. How was it found? The story wasn't one of great financial gain, but a monumental loss.
It seems the new Corvette was stolen from a San Diego dealership and never found. It had been put in storage by the thief, who feared being captured with the car in his possession. For over 23 years he'd paid the $70 monthly storage fee, but after the storage payments went up to $300/month, he could no longer hide his secret and hired an attorney to turn himself into police.
It turned out to be the "barn find" of the year - a totally original, hardly driven red Corvette convertible. Police say it even had retained its "new car smell". Air in the tires, a new battery and a quick dust-off and it was ready for the road. (I think I'd want a more comprehensive inspection, but whatever. . .) The car was turned over to the insurance company that covered the original loss, but they didn't make any money on it. The price paid on the eBay auction was $39,741 - about the sticker price of the new 'vette in 1989.
The thief will not be charged with the crime, it appears he's suffered enough. 23 years ago he was a recent Irish immigrant who had been coerced into stealing the car. For 23 years he's been paying to keep the secret in a storage locker - at a cost of over $70,000, it was a really bad investment on his part.
It seems the new Corvette was stolen from a San Diego dealership and never found. It had been put in storage by the thief, who feared being captured with the car in his possession. For over 23 years he'd paid the $70 monthly storage fee, but after the storage payments went up to $300/month, he could no longer hide his secret and hired an attorney to turn himself into police.
It turned out to be the "barn find" of the year - a totally original, hardly driven red Corvette convertible. Police say it even had retained its "new car smell". Air in the tires, a new battery and a quick dust-off and it was ready for the road. (I think I'd want a more comprehensive inspection, but whatever. . .) The car was turned over to the insurance company that covered the original loss, but they didn't make any money on it. The price paid on the eBay auction was $39,741 - about the sticker price of the new 'vette in 1989.
The thief will not be charged with the crime, it appears he's suffered enough. 23 years ago he was a recent Irish immigrant who had been coerced into stealing the car. For 23 years he's been paying to keep the secret in a storage locker - at a cost of over $70,000, it was a really bad investment on his part.
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12-30-12, 04:33 PM
#12
perhaps this was tongue-in-cheek, but the '92 & up LT1, LT3 and ZR1 can run with anything on the road today, and certainly anything the land of the rising sun has to offer save for the gt-r. this was an L-89 however (somewhat less desirable), and yes the 84 4+3 with the cross-fire piece of junk that the other guy mentioned would not be highly coveted, but more perhaps than the last few years of the C3 with the weak engines that came out following the oil crisis
still don't think its worth $40K however
still don't think its worth $40K however
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