1962 Corvette For Sale: Prices & Where To Find One

If you're in the market for a classic car, a 1962 Corvette is a fantastic choice. It represents a pivotal year in Corvette history, marking the end of the first generation (C1) and showcasing iconic styling cues. Finding one for sale requires knowing where to look and understanding the factors influencing its price.

What to Look for When Buying a 1962 Corvette

Before diving into listings, it's crucial to understand what makes a 1962 Corvette desirable and how to assess its condition. This section will cover key aspects like originality, documentation, and common problem areas.

Originality and Matching Numbers

Originality significantly impacts a classic car's value. A "matching numbers" Corvette means the engine, transmission, and rear end are the same ones the car was born with. Verifying this requires checking the Vehicle Identification Number (VIN) and the codes stamped on these components against factory specifications.

• VIN: Located on the driver's side door hinge pillar.
• Engine Code: Stamped on the engine block.
• Transmission Code: Found on the transmission casing.
• Rear End Code: Located on the rear end housing.

Deviations from original specifications, like a replaced engine, generally decrease the car's value. However, a well-documented engine replacement with a correct-year Corvette engine may have a lesser impact.

Documentation and Provenance

Paperwork is crucial for establishing a car's history and authenticity. Important documents include:

• Original Bill of Sale: Provides proof of the car's initial sale.
• Window Sticker (if available): Details the car's original equipment and options.
• Owner's Manual: Essential for understanding the car's operation and maintenance.
• Service Records: Show the car's maintenance history, a huge plus for discerning buyers.
• NCRS (National Corvette Restorers Society) Documents: NCRS judging awards and certifications provide expert verification of originality and restoration quality.

A well-documented car instills confidence and can command a higher price. Cars with a known history and provenance, especially those with famous previous owners or racing pedigree, are particularly valuable.

Checking for Common Problem Areas

1962 Corvettes, like any classic car, have specific areas prone to issues. A thorough inspection is essential before making an offer. Some key areas to check include:

• Frame: Check for rust, especially around the rear kick-up and birdcage mounting points. Rust repair can be expensive.
• Birdcage: The steel structure supporting the fiberglass body. Rust here is a serious concern.
• Body: Inspect for cracks, stress cracks, and evidence of previous repairs. Pay close attention to panel fit and paint quality.
• Engine: Listen for unusual noises, check for leaks, and verify oil pressure. A compression test can reveal internal engine health.
• Transmission: Ensure smooth shifting and check for leaks.
• Rear End: Listen for whining noises, indicating wear in the differential.
• Electrical System: Early Corvettes have simple electrical systems, but wiring can degrade over time. Ensure all lights, gauges, and accessories function correctly.

Consider a pre-purchase inspection by a Corvette specialist. A professional can identify potential problems that might be missed during a casual inspection. This small investment can save significant money and headaches in the long run.

Where to Find a 1962 Corvette for Sale

Several avenues exist for finding a 1962 Corvette for sale, each with its own pros and cons. Here's an overview of common sources:

Online Classic Car Marketplaces

Online marketplaces provide a vast selection of classic cars, including 1962 Corvettes. Popular platforms include:

• Hemmings: A well-established platform specializing in classic and collector cars. Hemmings offers extensive listings, detailed descriptions, and high-quality photos.
• ClassicCars.com: Another large marketplace with a wide range of classic cars. They offer search filters, price guides, and articles to aid in your search.
• eBay Motors: A popular option for finding a car of any kind, but careful due diligence is necessary. Listings can be hit or miss, but you might find a hidden gem. Use caution and thoroughly vet sellers.
• Bring a Trailer (BAT): An auction site known for higher-end classic cars. BAT attracts knowledgeable buyers and sellers, and the auction format creates transparency. However, competition can drive prices up.

When using online marketplaces, carefully examine listings, request additional photos, and communicate with sellers to get a clear picture of the car's condition. — James Cook Stats: A Deep Dive

Classic Car Auctions

Classic car auctions can be an exciting way to acquire a 1962 Corvette. Auctions offer a diverse selection and the potential to find a rare or exceptional example. Major auction houses include:

• Mecum Auctions: One of the largest collector car auction companies. Mecum holds numerous auctions throughout the year, featuring a wide range of vehicles.
• Barrett-Jackson: Known for high-profile auctions and celebrity consignments. Barrett-Jackson events generate significant buzz and often feature top-quality cars.
• RM Sotheby's: Specializes in high-end and historically significant automobiles. RM Sotheby's auctions attract discerning collectors and often set record prices.

Attending an auction in person allows you to inspect cars firsthand, but online bidding is also usually available. Be prepared for competitive bidding and factor in auction fees when budgeting.

Classic Car Dealers and Specialists

Dealers specializing in classic cars offer expertise and often a curated selection of vehicles. Benefits of buying from a dealer include:

• Inspection and Reconditioning: Dealers often inspect and recondition cars before offering them for sale.
• Financing and Trade-Ins: Dealers may offer financing options and accept trade-ins, simplifying the purchase process.
• Warranty (in some cases): Some dealers provide limited warranties on classic cars.
• Expert Knowledge: Dealers can offer valuable insights into the car's history and market value.

However, dealer prices may be higher than private sales due to their overhead and profit margins. Research dealers specializing in Corvettes or classic American cars.

Private Sales

Finding a 1962 Corvette through a private sale can sometimes yield a better price, but requires more legwork. Resources include:

• Online Classifieds (e.g., Craigslist, Facebook Marketplace): These platforms can offer deals, but require careful vetting of sellers.
• Car Clubs and Forums: Corvette clubs and online forums connect enthusiasts and often have classified sections for members selling cars. This can be a great way to find a well-cared-for example.
• Word of Mouth: Let friends, family, and local car enthusiasts know you're looking for a 1962 Corvette. You might uncover a hidden gem through personal connections.

Private sales often lack the protections offered by dealers or auctions, so due diligence is paramount. Arrange a pre-purchase inspection and thoroughly review all documentation.

Factors Affecting the Price of a 1962 Corvette

Understanding the variables influencing a 1962 Corvette's value is crucial for making an informed purchase. These factors range from condition and originality to options and market trends.

Condition and Restoration Quality

The condition of a 1962 Corvette is the primary driver of its value. Cars are often categorized into condition classes:

• #1 Concours/Best in Show: A flawless, show-quality car with exceptional originality or a meticulous restoration.
• #2 Excellent: A well-preserved or restored car in outstanding condition. May have minor imperfections.
• #3 Good: A presentable car in good running condition. May have some cosmetic flaws or older restoration work.
• #4 Fair: A driver-quality car with noticeable wear and tear. May require mechanical or cosmetic work.
• #5 Parts Car: A car in poor condition, suitable primarily for parts.

The higher the condition class, the higher the price. A concours-quality 1962 Corvette will command a substantial premium over a driver-quality example. Restoration quality also matters. A professional, correct restoration adds value, while an amateur or poorly executed restoration can detract from it.

Engine and Transmission Options

The 1962 Corvette offered several engine and transmission choices, significantly impacting value. The most desirable options include:

• 327 Cubic Inch Engine: This engine, new for 1962, was available in several horsepower ratings, from 250 to 360 hp.
• Fuel Injection (360 hp): The top-of-the-line fuel-injected 327 is the most sought-after engine option.
• Four-Speed Manual Transmission: Preferred by enthusiasts for its sporty driving experience.

Corvettes with higher horsepower engines and manual transmissions command higher prices. The fuel-injected models are particularly rare and valuable.

Original Options and Features

Optional equipment and features enhance a 1962 Corvette's desirability and value. Key options include:

• Power Windows: A relatively rare and desirable option.
• Power Top: Makes raising and lowering the convertible top easier.
• Positraction Rear Axle: Improves traction and handling.
• Whitewall Tires: Enhance the classic look.
• AM Radio: Original radios add to the car's authenticity.

A well-optioned Corvette will generally be worth more than a base model. Originality is key – cars with their original options intact are more valuable.

Color Combinations

Color combinations also play a role in a 1962 Corvette's value. Certain colors are more popular and desirable than others. Classic Corvette colors include:

• Roman Red: A timeless and popular choice.
• Ermine White: Another classic Corvette color.
• Tuxedo Black: Always a stylish option.
• Fawn Beige: A more understated but elegant color.

Rare or unique color combinations can also increase value. Color combinations that are original to the car are more desirable than those that have been changed.

Market Trends and Collectibility

Market trends and overall collectibility influence classic car prices. Factors to consider include:

• Overall Classic Car Market: The classic car market fluctuates, impacting prices.
• Corvette Market: Corvettes, in general, are highly collectible cars.
• 1962 Corvette Specific Market: The 1962 model is particularly desirable as the last of the C1 generation.
• Rarity: The number of 1962 Corvettes produced (around 14,500) impacts their availability and value.

Stay informed about market trends by following auction results, consulting price guides, and reading classic car publications.

Price Guide for 1962 Corvettes

The price of a 1962 Corvette can vary widely depending on the factors discussed above. Here's a general price guide based on condition (as of late 2023):

• #1 Concours/Best in Show: $120,000 - $180,000+
• #2 Excellent: $90,000 - $130,000
• #3 Good: $60,000 - $90,000
• #4 Fair: $40,000 - $60,000

These are broad estimates. Fuel-injected models, highly optioned cars, and those with documented provenance can command prices at the higher end of these ranges or even exceed them. Conversely, cars in fair condition or with non-original components will typically sell for less.

Resources for Price Valuation

Several resources can help you determine a fair price for a 1962 Corvette:

• NADAguides Classic Car Values: Provides price ranges based on condition.
• Hagerty Valuation Tool: Offers detailed valuation data and market analysis.
• Mecum Auction Results: Track auction results to see what similar cars have sold for.
• Bring a Trailer (BAT) Auction Archives: Provides a record of past BAT auction sales.

Consult multiple sources to get a well-rounded understanding of market values.

Essential Steps Before Buying

Once you've found a potential 1962 Corvette, take these crucial steps before making an offer:

Inspect the Car Thoroughly

Perform a comprehensive inspection, paying attention to the areas discussed earlier (frame, birdcage, body, engine, transmission, etc.). If you're not an expert, consider hiring a Corvette specialist to conduct a pre-purchase inspection.

Verify the VIN and Documentation

Match the VIN on the car to the title and other documentation. Verify engine and transmission codes to ensure originality. Review all paperwork, including service records and ownership history.

Take a Test Drive

A test drive is essential to assess the car's mechanical condition and drivability. Pay attention to:

• Engine Performance: Smooth acceleration, no unusual noises.
• Transmission: Smooth shifting, no slipping or grinding.
• Brakes: Firm pedal, straight stopping.
• Suspension: Comfortable ride, no excessive bouncing or swaying.
• Steering: Responsive and precise.

Negotiate the Price

Be prepared to negotiate the price based on your inspection findings, market research, and the car's condition. Have a budget in mind and be willing to walk away if the price isn't right. — New Orleans To Houston: Your Ultimate Travel Guide

FAQ

What is the most desirable engine option for a 1962 Corvette?

The 327 cubic inch fuel-injected engine (360 hp) is the most desirable and valuable engine option for a 1962 Corvette. — Santa Barbara Cars For Sale: Your Ultimate Guide

How can I verify if a 1962 Corvette is a "matching numbers" car?

Check the VIN and the codes stamped on the engine, transmission, and rear end against factory specifications. Resources like the NCRS can provide detailed information on code verification.

What are some common problems to look for when buying a 1962 Corvette?

Common problem areas include rust in the frame and birdcage, cracks in the fiberglass body, and issues with the engine, transmission, and electrical system.

What is the approximate value range for a 1962 Corvette?

As of late 2023, values range from around $40,000 for a fair condition car to $180,000+ for a concours-quality example. Fuel-injected models and those with desirable options command higher prices.

Where can I find reliable price guides for 1962 Corvettes?

Resources like NADAguides Classic Car Values and Hagerty Valuation Tool offer price guides. Auction results from Mecum and Bring a Trailer can also provide insights into market values.

Conclusion

A 1962 Corvette is a classic American sports car that offers a rewarding ownership experience. Finding the right one requires patience, research, and a thorough inspection. By understanding the factors that influence value and following the steps outlined in this guide, you can confidently navigate the market and acquire your dream Corvette.

Ready to start your search? Explore online marketplaces like Hemmings and ClassicCars.com to view current listings and find the 1962 Corvette that matches your criteria. Don't hesitate to contact classic car dealers or attend auctions for more options. Happy hunting!