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Value Trumps Price…

Friday, November 15th, 2013

Collector Car Math: Value + Price + Exhilaration = Complete Satisfaction. I have asked/answered this equation thousands of times over my lifetime and since the Great Recession of 2008 took hold, the importance of getting this equation right has taken on a new importance. It isn’t just me but anyone who dabbles in the passionate world of collector cars has asked these questions. Mike Farbairn (RM Magazine, Summer ’13) wrote an article giving some sound advice in purchasing a classic car. First he asks, “How much is too much?” Ownership tenure involving a quick turn around like flipping the car and short-term ownership (90 to 100 days) necessitate a perceived monetary profit translating to a bargain hunter’s mentality. Long-term classic car proprietorship is a bit more ambiguous. It involves a bigger commitment to the car’s integrity, provenance, and market value. “In my experience, the very best is seldom cheap” but rest-assured the work in acquiring the “long-term hold” will pay dividends down the road. How can Mike be so sure? He is certain because of two universal collector car truths; (1) the market has always surpassed retail price and (2) when you own the best, there is always a profitable resale market. So in the end, Value Trumps Price. Price is secondary to exhilaration. Passion is incalculable.  Questions or comments? Email: [email protected]

1958 Corvette Convertible | Value Trumps Price

1958 Corvette Convertible | Value Trumps Price

Thoughts on Chasing Tall Tales & Barn Finds

Wednesday, October 16th, 2013

Back in the 1970’s, we did not know just how deeply the Corvette was woven into America’s car culture, as its allure had not yet hit its stride. It would be a decade or more before we understood how entrenched the passion for the Corvette was. At that time, we drove them purely for the joy of a hot ride and as an extension of our own personality.

Working on a hunch backed by intuition has been my calling card since those early days. Whether it was an entire collection or a 1958 retractable hardtop, I learned to follow my instinct. There were plenty of wild goose chases but every once in a while a tall-tale became truth hidden under a tarp in an out of the way garage. Long hours, hundreds of miles and years melted away when the jewel was unearthed.

When opportunity knocks, it is important to open the door.

What keeps us motivated to bird dog these barn find cars? It is the thrill of the chase never forgetting the importance of doing your homework. It is what we in the hobby continually wrestle with; frustration versus pay-off.

We understand the real value of “The Find” comes only after the forensics and research validate the hunch. Only then can the conversation about restoration versus preservation take place. Only then can we consider historical importance as opposed to watching these cars run the course in freshly restored brilliance.

… And finally, ask anyone who has chased a storied car and they’ll tell you that these “barn finds’” real worth lie in the people who found them first. These owners’ lives are forever interwoven in the cars’ history and like the cars themselves; they are priceless barn finds as well.

Terry Michaelis, [email protected]

A Barn Find Jewel | 1963 Corvette Split Window Coupe

Corvette wins American Heritage award…

Wednesday, August 21st, 2013

ProTeam’s ace mechanic, Billy Rodenhauser, participated and received the NCRS American Heritage award for ProTeam at the NCRS National Convention awards banquet on Thursday evening July 25th.

“It was fitting to have Billy receive the Heritage award for ProTeam.” Terry Michaelis, ProTeam president, commented on the long hours by ProTeam’s lead mechanic, “Billy was very involved in the 2011 forensic disassembly and inspection of the Lang race car remains prior to restoration.”

Billy travelled with Terry to the April 2013 Bowling Green, KY NCRS Regional where the car received its sign-off nomination. Billy left for Hampton, VA on July 20th with car in tow and participated in the five day NCRS National event and then towed the car back in time to be placed on the show field on July 27th at the Concours d’Elegance of America in Plymouth, Michigan.

The AMERICAN HERITAGE Award® was created by the National Corvette Restorers Society fifteen years ago in order to recognize Corvettes proven historically significant with regard to the marque’s legacy. These cars by their nature fall outside of the NCRS judging criteria, cars like GM styling and GM experimental. As for vintage race cars, they must have actual race history and be presented in the race form. It is an exclusive club. Only two to three vehicles per year have been accepted with only 36 Corvettes having received this award.

ProTeam found the famed Lang Z06 Race Corvette remains in New Carlisle, Ohio from the third owner who bought this car in 1977 for $250.00.

Terry Michaelis added, “We found it. We researched it. We oversaw the restoration. And now we are displaying the Corvette at many concours invitationals around the country, including the big one at Amelia Island, Florida. We will be rewarded when we decide to sell this significant Corvette as we have received offers close to one million dollars.”

In 1963 Lang and this Z06 first raced at the Daytona International weekend and by 1964, Dick Lang was the only Corvette driver among four Cobras in the top five standings. The legend had been solidified on those tracks and against the Cobra in the 1963 Corvette. Those challenges to the elite of the sport placed Corvette squarely as the face of America’s coming muscle car obsession.

Lang continued to race joining the DeLorenzo Owens-Corning team in 1969. The Z06 tanker Corvette lived life on and off the track for decades before being brought back to its better than new racing splendor by ProTeam and Nabers Restoration of Houston, Texas.

The ex-Dick Lang Z06 Tanker Race Car is on display in ProTeam’s world famous classic Corvette collection in Napoleon, Ohio. The inventory of 1953 to 2008 Corvettes is open to the public in climate controlled indoor showrooms. Many of these Corvettes have been beautifully restored to like-new condition and carry prestigious honors such as the Bloomington Gold Certification, NCRS Top Flight award, and the Triple Crown designation. ProTeam Corvette is recognized as the nation’s leader in classic Corvette sales, service & restoration selling an estimated 10,000+ Corvettes over the past four decades. Email: [email protected] or on the web: www.proteam-corvette.com

1963 Corvette Z06 Dick Lange Race Car

1963 Corvette Z06 Dick Lange Race Car

 

ProTeam’s ex-Dick Lang Z06 Tanker Race Car Wins Awards at Ault Park Concours

Friday, June 21st, 2013

Napoleon, Ohio – - ProTeam’s 1963 ex-Dick Lang Tanker Race Car recently took home the Best in Class award, First Place award, and Special Display award at the 36th Annual Ault Park Concours held in Cincinnati June 9th.

The Ault Park Concours d’Elegance has earned the reputation as one of most prestigious shows in the country. The show features 13 classes of classic, vintage, and exotic cars. This year’s Concours honored a century of the Aston Martin and 60 years of the Corvette. Among the featured Corvettes were two 1963 Corvette Split Window Coupes from ProTeam’s world-famous collection.

Terry Michaelis, ProTeam president, reflected on the accolades from the weekend, “To be invited to Ault Park is an honor and testament to legendary driver Dick Lang and the history he made in this machine. The other awards (Best in Class and First Place) are an acknowledgement to the high quality concours restoration of this Corvette.”

ProTeam’s 1963 Corvette Split Window Coupe was among the earliest “batched built” Z06 Corvettes that battled head to head against Shelby’s Cobras in the early 1960’s. Dick Lang was from Xenia, Ohio and one of the best Corvette drivers of that era racing throughout the Midwest, Central, Northeast, and Southeast regions of SCCA.

When this car and driver connected it was something very special!

In 1963 they first raced at the Daytona International weekend and by 1964, Dick Lang was the only Corvette driver among four Cobras in the top five standings. The legend had been solidified on those tracks and against the Cobra in the 1963 Corvette. Those challenges to the elite of the sport placed Corvette squarely as the face of America’s coming muscle car obsession.

Lang continued to race joining the DeLorenzo Owens-Corning team in 1969. The Z06 tanker Corvette lived life on and off the track for decades before being brought back to its better than new racing splendor by ProTeam and Nabers Restoration of Houston, Texas.

The ex-Dick Lang Z06 Tanker Race Car is on display in ProTeam’s world famous classic Corvette collection in Napoleon, Ohio. The inventory of 1953 to 2010 Corvettes is open to the public in climate controlled indoor showrooms. Many of these Corvettes have been beautifully restored to like-new condition and carry prestigious honors such as the Bloomington Gold Certification, NCRS Top Flight award, and the Triple Crown designation. ProTeam Corvette is recognized as the nation’s leader in classic Corvette sales, service & restoration selling an estimated 10,000+ Corvettes over the past four decades. Email: [email protected] or on the web: www.proteam-corvette.com

The Ault Park 37th Annual Concours d’Elegance is scheduled for the first weekend in June 2014 with proceeds of the event going to the Arthritis Foundation, Ohio River Valley Chapter. Email: [email protected] or on the web: www.ohioconcours.com

1963 Z06 takes its bow at Ault Park Concours awards ceremony

It’s the People that make the hobby…

Wednesday, May 22nd, 2013

Fresh off the trailer and into the collection. 1967 Corvette 327 Coupe, factory air, powerglide, numbers match, 76,577 actual miles. This Corvette was in the care of one owner for the  past 31-years.

As neat as the car is, my experience buying is proof that the Corvette hobby is littered with some really great people.

1967 Corvette 327 Coupe

From the trailer to the world famous Corvette collection

 

15 Reasons To Preserve And Not Restore Your Original Car…

Wednesday, May 8th, 2013

Examples of original cars recently sold at auction:

1. 1963 Corvette 360 hp Coupe – sold at Mecum for $328,600.00

2. 1963 Corvette 340 hp Coupe – sold at Mecum for $291,500.00

3. 1965 Shelby 289 Cobra – sold at Gooding & Co. for $1,320,000.00

4. 1966 Shelby GT 350 Fastback – sold at Barrett-Jackson for $247,500.00

5. 1967 Shelby GT 500 Fastback – sold at Barrett-Jackson for $192,500.00

6. 1967 Corvette 435 hp Convertible – sold at Mecum for $265,000.00

7. 1967 Corvette 435 hp Convertible – NO SALE at Mecum for $185,500.00

8. 1968 Corvette 435 hp Convertible – sold at Mecum for $83,740.00

9. 1969 Corvette L88 Convertible – sold at Gooding & Co. for $825,000.00

10. 1969 Corvette L88 Coupe – sold at Mecum for $595,720.00

11. 1969 Boss 429 Fastback – sold at Mecum for $442,000.00

12. 1969 Boss 429 Fastback – NO SALE at Mecum for $296,800.00

13. 1970 Plymouth Hemi Cuda – sold at Mecum for $339,200.00

14. 1975 Oldsmobile 98 Coupe  - sold at Barrett-Jackson for $47,300.00

15. 1978 Cadillac Eldorado –sold at Mecum for $50,350.00

There are dozens of other examples that I could recite about original, unrestored, unmolested cars.

Original, unrestored, unmolested cars are the pinnacle of preservation and an icon of fresh air after looking at hundreds of boring restored classic cars that are wearing their new basecoat/clear coat finishes and heavily Armor-All’d interiors.

Restoring these original unmolested cars robs the car of its soul, destroys its fingerprints and character and some would say is an act of vandalism.

We are but temporary caretakers of these pieces of automotive history and as we and the market matures we are seeing the whole automotive preservation movement growing out of its infancy and its being recognized by more than just the seasoned collector.

Comments or questions email: [email protected]

For more information on the preservation movement, click here and read David Burroughs article on Restore it? Or Not!

Ingenuity is the mother of invention…

Wednesday, March 20th, 2013

as seen at Amelia Island 2013. A small leak did not sideline the 1963 RHD Z06 Export Corvette. Every old Mechanic is going to love this one.

1963 Z06 RHD Corvette | A Perfect Cigar Holder

A leak and a good bottle of wine…

Corvette Engine Sealed-up tight

Corvette Engine Needs a plug

A bottle of wine and cork

Did we mention it was a fine bottle? The cork a perfect fit

a trip to O'Reilly's for some ties and glue

Dick Langs 1963 Z06 was perfect for the errand

1963 RHD Z06 was ready for the Amelia Road Tour

1963 RHD Z06 was ready for the Amelia Road Tour

1963 RHD Z06 was ready for the Amelia Road Tour

1963 RHD Z06 was ready for the Amelia Road Tour

tMichaelis School of Ingenuity

 

Amelia Island Road Tour 2013…

Monday, March 11th, 2013

featured 2 Corvettes from the ProTeam World Famous Collection:

1963 Corvette Split Window Coupe “Dick Lang’s Z06/Tanker Race Car, VIN #6553. 1 of the early “batched built” 1963 Z06 Corvettes that went to battle against Shelby’s Cobras.

1963 Corvette Split Window Coupe Export RH Drive Z06 Fuelie GM Show Car with 22,723 actual miles. Original. Unmolested. Big hit on the show field. Born on: 5/11/63. Delivered new for export to Australia. EXCELLENCE!

Great Weekend | Consummate Hosts | Old Friends | Great Atmosphere | Amelia Island Concours

Dick Lang's 1963 Corvette Z06/Tanker Race CarExport RH Drive Z06 Fuelie GM Show Car

1963 Corvette Split Window Coupe "Dick Lang's Z06/Tanker Race Car", VIN #6553. 1 of the early "batched built" 1963 Z06 Corvettes that went to battle against Shelby's Cobras. http://www.proteam-corvette.com/Corvette-1963-1066D/1066D.html

1963 Corvette Split Window Coupe Dick Lang's Z06/Tanker Race Car

1963 Corvette Split Window Coupe Export RH Drive Z06

1963 Corvette Split Window Coupe Dick Lang's Z06/Tanker Race Car

1963 Corvette Split Window Export RH Drive Z06 Fuelie

Over $300 Million Dollars…

Monday, February 11th, 2013

was raked in by seven collector car auction companies in January 2013; which is a huge increase over last January 2012 that hovered right at $240 million dollars. 2011 was a re-rebirth of growth in collector car/Corvette values and January 2013 saw many “leap frog” sale prices of extreme and moderately desirable collector Corvette. Highlights from the 7 January collector car auctions:
1957 Cascade Green 270hp, $121,900.00
1958 Charcoal Fuelie, $164,300.00
1962 Corvette Retro-Mod Custom, $408,800.00
1962 Corvette Retro-Mod Custom, $327,500.00
1962 Black Fuelie, $256,520.00
1963 Red Fuelie Split Window Coupe, $328,600.00
1963 Red 340hp Split Window Coupe, $291,500.00
1965 Black Fuelie Coupe (Stk. #1021E), $217,300.00
1966 Red 350hp Air Coupe, $137,800.00
1967 Blue 435hp Convertible, $265,000.00
1967 Maroon 435hp Convertible, $185,500.00
1967 435hp Coupe, $169,600.00
1967 Green 435hp Convertible, $164,300.00
1967 Green 350hp Air Convertible, (Stk. #1024E), $174,900.00
1968 White L88 Convertible, $1,100,000.00
1968 Blue L88 Convertible, $825,000.00
1968 Red L88 Convertible, $583,000.00
These are strong prices that show the popularity of Corvette collecting is again on the rise. Questions or comments? Email [email protected]

1965 Corvette FI Tanker

T.Michaelis spent much of January watching and participating in the classic Corvette market

From ProTeam to primetime…

Wednesday, January 23rd, 2013

These bad boys go on the block in Kissimmee in two days (1/26/13).
- 1971 ZR2 Orange Corvette Convertible, Stk. #NSN-WOW
- 1968 L88 Red/Red Corvette Convertible, Stk #1129C

Classic Corvettes for Sale

'71 ZR2 Orange Corvette Cvt. | '68 L88 Red Corvette Cvt.

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