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Corvette stolen in 1989 sold to OC man on eBay

December 25, 2012 12:00:00 AM PST
Mike Robertson can't help but smile as he drives his 1989 Corvette. The two seat convertible is an attention grabber not just for its cherry red color, but for the story behind it.

"It's a bit of a time capsule, a brand new old car," he said.

The car is showroom ready and has 68 miles on the odometer even decades after it was made and reported stolen from a new car sales lot in San Diego in 1989. It was then driven to a nearby storage facility.

Over the years, the renter paid $70,000 in storage fees until last summer when the monthly rate went up to $300. The renter stopped paying and got an attorney.

The unidentified renter contacted police. He is not facing charges since the statute of limitations ran out after three years. The insurance company, reimbursed for the loss years ago, sold the car to Glendale wholesale car manager Corky Rice, who put it on eBay.

"It was in a sealed container, never opened for almost 24 years," said Rice. "I was blown away. I really had no idea that the condition was going to be as new as it is. It's got the original battery that still starts the car."

So far it needs four new tires after sitting in one spot for so many years.

Robertson, an advertising agency owner, officially got the keys on Christmas Eve at a price tag of nearly $40,000 -- the original window sticker price in 1989.

"Not a bad gift, it was a great gift," he said.


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