Stolen Corvette Surfaces From Morena Storage Unit 24 Years Later

San Diego Reader ^ | Dec. 24, 2012 | Gary Cornaglia

[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 car’s 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 collector’s dream.”

The eBay no-reserve auction for the car closed at noon on Sunday, receiving over 70 bids. The winner’s closing bid of $39,471 was noted as equal to the car’s original retail sale price.

[Alaska Wolf]

The newer Corvette, Camaro, Mustang, Challanger, they rock !

They should for the price.

[Nuc 1.1]

Yes but it will need valve springs and perhaps engine bearings (due to corrosion). The fuel system will probably also need cleaning. Depending upon how it Was stored rubber items may need to be replaced, such as spring pads, suspension bushings etc... Wouldn't mind having it.

[houeto]

They should for the price.

Yep. I just drove a friend of mine's new Challenger Super Bee a couple of days ago. It was a lot of fun but not for $60,000.

[Alaska Wolf]

The only reason he decided to sell it was because the quirks got too annoying—

Where I live weather and terrain dictate that I drive four wheel drive trucks and SUVs 8 months of the year. So come summer the annoyances are acceptable.

[CatherineofAragon]

I can understand that.

[Isabel C.]

I’ve owned 5 vette’s.

My husband and I have owned 6.

[Newbomb Turk]

Super low mileage Corvettes of this vintage litter Craigslist. Nice ones are barely bringing 8 grand. Its a buyers market.

I have my 68 RS/SS big block Camaro that I bought when I was 20 back in 1980. Thats all the pony car I need.

[Alaska Wolf]

The fuel system will probably also need cleaning.

Unless it was totally drained and cleaned it will likely have to be replaced. I'd guess the fuel would be close to varnish after 23 years.

[Alaska Wolf]

Nice ones are barely bringing 8 grand.

8 grand is hardly worthless, is it?

[depenzz]

I owned an ‘81 and traded it on a new ‘93, 40th anniversary edition. Still have it and it just turned over to 27,000 miles this summer. I hardly drive it and it is like new. I thought about selling it but the family wants me to keep it. (for them lol)

[Newbomb Turk]

Let be put it this way, I wouldn't call it an outstanding investment if you bought one at full price, took outstanding care of it over the years and looked at your rate of return when you sold it.

So worthless as an investment.

Yeah 8 grand is nothing to sneeze at.

In pony car terms that ain't jack. I have a transmission that cost more than that.

[Alaska Wolf]

‘93, 40th anniversary edition

I've got one of those. Tan on black ragtop. Fairly economical, fun to drive and surprisingly low insurance premium.

[Alaska Wolf]

So worthless as an investment.

I own cars to drive, not as investments. I've got a couple of Vettes, a MB 280 SL, 2 Mustang GTs and a Jag XJ12. When and if I decide to sell any of them, individually each will be worth more than a truck or SUV of the same vintage.

I don't buy new. I let others eat the depreciation.

[RegulatorCountry]

Squeaks, rattles and stress cracks in the fiberglass.

A Vette was sort of status-ey when I came of age but they were large and underpowered, late seventies to early eighties. That body style didn't wear the mandated 5 mph crash resistant bumpers well and was already long in the tooth by that time, over ten years old.

I'm not enough of an aficionado to know whether that was a C3 or what, but the next model was much cleaner looking and had better power. Well kept, low mile examples are not hard to find. If I were in a position to acquire a weekend toy, an early nineties convertible would not be objectionable at the right price, in the right condition.

[Nuc 1.1]

If not completely blocked you could run fuel system cleaner through it and get the fuel system functional fairly easily. OTOH a blocked fuel system will be much more time consuming though not terribly difficult to fix. I once had a friend that burned up his 150 horse outboard power head. Once replaced the engine would fire on a prime but not continue to run, even choked. I had him bring the carbs over and I went through them. I was astounded at how much varnish was in them. He did not drain them b/c his power head was toast. So after about one year they were coated with about one eighth inch of varnish. I cleaned them up and repaired a casting porosity in the center carb main well that probably fried the power head, he had no more trouble with the motor after that.

[Newbomb Turk]

I agree with you on the own to drive part. Some people are selling cars now days that thought they would be worth more than they paid for them which is rarely the case.

Have seen a few though such as Buick Grand Nationals bring good money.

I have bought and sold a lot of cars over the years from people who are in a jam for cash. Thats the only way to go. It's a wheeler dealers market right now and I predict its gonna get even better.

[Alaska Wolf]

If not completely blocked you could run fuel system cleaner through it and get the fuel system functional fairly easily

I'm not a mechanic nor do I play one on TV. My experience is limited to a carbureted vehicle that had been left unattended with fuel in the tank for many years. We had to drain the tank, disassemble, clean and replace needle, seat and float in the carb, replace fuel lines, gaskets, filters. Then run clean fuel and Sea Foam, replacing the fuel filter a few times until the varnish smell and gunk disapaited.

[Alaska Wolf]

It's a wheeler dealers market right now and I predict its gonna get even better.

It is indeed. I've got the time to do it. Kind of a hobby.

[ROTB]

Even the 1986 models had 240 horses, and would go to 60 in 6 seconds or under.

The 85s and 84s had much weaker brakes, and weaker engines.

[Yo-Yo]

I’ve owned 5 vette’s.

Cor or Chev?