Skip to comments.Stolen Corvette Surfaces From Morena Storage Unit 24 Years Later
Posted on 12/25/2012 12:31:05 PM PST by nickcarraway
A 1989 Chevrolet Corvette that was stolen from a Morena car dealership when new was for sale on an eBay Motors auction this week.
The Corvette was reportedly taken off the C&M Chevrolet lot and kept inside a nearby storage locker for 24 years. Still completely original, the cars odometer reads 67 miles, and the original sales sticker remains affixed to the glass.
The thief recently came forward, reportedly through an attorney, and was cleared by the San Diego police to sell the car (whether this was due to a statute of limitations expiring is unclear). The thief allegedly paid an estimated $70,000 in storage costs over the years. Comparable used models of the same year vehicle are now valued at less than $10,000.
The truly amazing find is now owned by a Sherman Oaks dealer, Corky Rice. Following extensive detailing work to remove a quarter century's worth of dust, the red ragtop is in cherry condition once again and described as a collectors dream.
The eBay no-reserve auction for the car closed at noon on Sunday, receiving over 70 bids. The winners closing bid of $39,471 was noted as equal to the cars original retail sale price.
I’ve owned 5 vette’s.
car should have been returned to original dealership as it belongs to them, or to the insurance company if it was insured and payment to the dealership made, the thief should eat the storage cost and all other expences if any, that is my opinion
Mythbisters needs another Vette for another smell myth.
Such a deal.
Had a stolen car over his head all those years.
Insurance more than likely paid the dealer.
Paid 70,000 in storage fees.
Cost of restoration etc? UNKNOWN.
Book value upon recovery -10,000.
Car sold for 40 Thou BY SOMEONE ELSE which was original price.
In recap, stole a 40,000 car, paid upwards of 75,000 to maintain and restore, sold for 40,000
This has all the markings of a GOVERNMENT RUN operation..
The current price on a 10X22 storage space is about $65.00 a month. Let's say $70 for the heck of it. That puts 24 year's rent at about $20 Grand.
$70,000 over 24 years comes closer to $250 a month. That's a pretty nice storage facility.
How can he lawfully sell something he was never entitled to possess and can’t possibly have title to?
How does that work?
Grand theft auto.
Would it even drive now?
The thief is little different from most California politicians.
The seals, all the rubber, hoses would have to replaced.
“Ive owned 5 vettes.”
None for me yet, but I’m contemplating getting a pre-78 C3 if I can find a good one.
“The thief allegedly paid an estimated $70,000 in storage costs over the years.”
So the thief never got to drive the car, had to look over his shoulder at least until the statute of limitations expired, paid to store the car and then sold it for a little over half of what he paid to hide it for 25 years.
I know criminals aren’t very bright, but...
The C4s from '89 to 96 are reasonably priced, have plenty of power and are fun to drive.
My husband always wanted a Corvette, and he ended up getting a black 1980 C3. Not a lot of power as Vettes go, but he enjoyed it for a number of years. I liked it, too, but I think he looks more suited for the Jeep he has now. He’s a tall guy, and that little Corvette looked too small for him.
Wonder if the $40,000 price included another gold chain necklace for the new driver?
A new V6 Pontiac GTO would out preform and out handle it.
The newer Corvette, Camaro, Mustang, Challanger, they rock ! You can rod one all day with the A/C on.
I'm 6'3" and the Vettes are problematic entering and exiting, especially when one has bad knees. However the sheer enjoyment of driving one is worth the trouble.
I'll pay shipping for all the worthless undamaged, operational '89 Corvettes you can collect.
Yes, he loved it. The only reason he decided to sell it was because the quirks got too annoying——a window that wasn’t set into the frame correctly and no one seemed able to fix, odd things like that.
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