1957 Chevrolet Corvette 283/270

This car, Lot FR0247, sold for $80,250, including buyer’s premium, at GAA Classic Cars’ Spring Sale auction in Greensboro, NC, on March 2, 2018.

The 1957 Corvette has always been one of America’s favorite collector cars. It’s one of those rare automobiles that hits that sweet spot between design and performance. That’s why the ’57 Corvette is on so many collectors’ bucket lists — it appeals to more than just Chevy or Corvette enthusiasts.

Of those ’57s, the fuel-injected cars have commanded top dollar, at least since the 1970s. They should; they’re the ultimate, right?

Certainly the 1957 “Fuelies” are rare, as just 756 of the 283-hp cars were built out of 6,339 Corvettes total. They were supremely powerful, too, hitting that magic one-horsepower-per-cubic-inch mark. Just as important, they performed at a world-class level, winning the GT class at the 12 Hours of Sebring, and dominating the SCCA B Production class.

Carbs vs. injection

But perceptions can be less than accurate. Engineer John Dolza created the famed mechanical fuel-injection system not for additional horsepower — although these engines were rated at 13 more horses than the top carbureted engine — but to prevent fuel starvation and flooding in high-performance road-race conditions. It was a condition most carburetors experienced, and rather than use the expensive Italian Weber carbs preferred by Ferrari and other European makers, GM came up with their own solution. It worked great on the racetrack and was rushed into production as an expensive option on Pontiac and Chevrolet sedans and Corvettes at the urging of Harlow Curtice, GM Executive Vice President of North America.

But on the street, the system was hard to start when hot and only a few mechanics knew how to properly maintain or tune it. Many street Fuelies were converted back to the dual 4-barrel setup of the 270-hp Corvettes, although in fairness to GM, within a few years they were able to iron out the limitations of the Rochester “Ram-Jet” fuel injection system and make it a fine street performer.

For street use, the carbureted Corvettes were just fine, and for those looking for serious performance (or just an impressive show under the hood), the optional dual-carburetor engines delivered either 245 hp or 270 hp without the temperament of the fuel-injected cars, and with at least a $300 savings on the sticker.

Sports Car Illustrated magazine (forerunner of Car and Driver) drove both and reported: “The cold figures, available for your inspection, are pretty phenomenal. Injected and carb-fed Corvettes are closely comparable in performance, and both qualify as the fastest-accelerating genuine production cars SCI has ever tested. In fact, up to 80 they’re not so far from the data posted by the Mercedes 300SLR coupe, which is generally regarded as the world’s fastest road car. In low, the Corvettes zoomed up to 55 mph in a shade over five seconds, and in another nine they surged to 95 in second with very exciting verve.” But when SCI drove their fuel-injected Corvette hard, then tried to restart it, “Nothing happened; the starter ground on and on and the engine didn’t even cough. So we tried treating it like a flooded carbureted engine and put the throttle on the floor. The engine caught within three spins.”

The numbers and the look

True 270-hp RPO 469C Corvettes are a compelling option for someone looking for a ’57 to both show and drive, like our feature ’Vette. Onyx Black was the most popular color by far in 1957, and with the code 440 “Two Tone Paint” option (a $19.40 upgrade), you can see why.

This Corvette does not have either of the necessary pedigrees for maximum value: Bloomington Gold certification or a Top Flight award from the National Corvette Restorers Society, but the fact an “NCRS Vice Chairman” restored the car implies it might be near the level of accuracy needed to attain either of those honors.

The seller wisely included photos of the undercarriage, which, along with the engine compartment, looks to be at or near the 95% of factory-original condition that both awards mandate.

The seller also states the Corvette is “numbers matching,” which doesn’t necessarily signify originality, but it does show the restorer made the effort to have all major castings and components dated within a reasonable timeframe of when the car was assembled. Altogether this seems like a first-class Corvette.

A fine value

Maybe it’s my frugal and pragmatic Midwestern nature, but a Corvette like this really appeals to me. It’s not a 283-hp fuel-injected model — the pinnacle of Corvette perfection in 1957 — it’s just a notch below that, and for that reason, the 270-hp ’57s have historically been a fine value compared to the Fuelies.

It seems the rest of the world is starting to believe likewise. The 2018 ACC Pocket Price Guide shows the median sale price for a 1957 fuel-injected 283-hp Corvette at $92,500, while the 270-hp model’s median is $97,500. As these are median prices (where the number displayed is the middle in a series of values arranged from smallest to largest), the recent data suggest there have been more sales of high-dollar 270-hp cars than of high-dollar Fuelies. Either way, the recent trend in prices has shown these options to be close to each other in terms of value.

Though our feature Corvette doesn’t seem to have any history or documentation, it is a very well-restored example and logically would command at least the median, which it failed to achieve at its $80,250 sale price. But this sale wasn’t this Corvette’s first rodeo; it was sold via the same auction house on July 28, 2016, for $58,300.

I’m assuming the seller made significant improvements to the quality of the Corvette’s condition in that time, and that certainly helped the price, but it’s doubtful that he recouped his restoration costs. That makes this 270-hp Corvette not only a great value, but for the buyer, it was very well bought.

(Introductory description courtesy of GAA Classic Cars.)