- Admin
- #1
´Vettes more than just smooth rides
PHILLIP BARNHARD Herald Staff Writer, From The Plainview Daily Herald
03/12/2006
While most people are investing in stocks, mutual funds or bonds, Fred Rivera chooses to invest his money elsewhere.
Rivera, 70, owner of Rivera Produce, said his “investment” is in classic cars. Although he might not have much room for them, Rivera owns three Chevrolet Corvettes: a 1957 Corvette, a 1963 Split Window Fuelie and a 1967 Sting Ray.
Rivera said there are five Corvettes that are considered “Golden Corvettes.” He currently owns three, but would like to own all five to complete the collection.
“People might say, you´re foolish,´ but these are an investment,” he said. “Their value increases 20 percent per year. There are few ´57s still out there.”
Rivera bought the ´57 Corvette back in 1970 from a man who used to race the car in Tucson, Ariz. The vehicle had won third place in the Ontario 500.
He purchased the vehicle for $3,500. Rivera said a man from Floydada valued the restored vehicle´s worth at $175,000.
Not a bad investment.
Rivera has different shops in the area do the restorations for him because he is “not mechanically inclined.”
“I wish that I did know how, but I have no knowledge of cars,” he said. “I can´t even fix a flat, to be honest with you.”
Rivera said his first attempt at changing a flat in college involved a butter knife, gasoline and a match. After attempting to pry the tire off with a butter knife, lighting it on fire in a desperate attempt to burn it off was the next best idea, he decided.
Rivera has owned and operated Rivera Produce, Inc., since December 1963. The company moved to Plainview 10 years ago. Rivera said his company transports produce, seed, meat, cotton and many other items.
He said his wife, Josie -- who has an extensive Precious Moments collection -- enjoys riding in the ´57 Corvette, so they drive that more than the other two classics. Even then, Rivera said, they rarely take any of them out of the garage.
“It´s mostly going to be in the garage,” Rivera said. “You can´t park it anywhere for fear of someone taking a part from it. I also don´t want the dust to hit it.”
Chevrolet produced 6,330 convertibles in 1957. Of that number, only 664 were a 4-speed manual.
Rivera owns a 38-foot covered trailer to transport the vehicle for car shows, but with time constraints from work he said he is unable to attend any. He is considering hiring someone to show the Corvettes in his place.
Rivera is a member of the Roadrunners Car Club of Plainview and has been offered membership in the Amarillo Corvette Club.
[FONT=Verdana,]Posted to MyPlainview: MARCH 12, 2006 08:04 CST [/FONT]
[FONT=Verdana,]
[/FONT]
[FONT=Verdana,]©Plainview Daily Herald 2006
[/FONT]
Source: http://www.myplainview.com/site/news.cfm?newsid=16289780&BRD=517&PAG=461&dept_id=473182&rfi=6
PHILLIP BARNHARD Herald Staff Writer, From The Plainview Daily Herald
03/12/2006
While most people are investing in stocks, mutual funds or bonds, Fred Rivera chooses to invest his money elsewhere.
Rivera, 70, owner of Rivera Produce, said his “investment” is in classic cars. Although he might not have much room for them, Rivera owns three Chevrolet Corvettes: a 1957 Corvette, a 1963 Split Window Fuelie and a 1967 Sting Ray.
Rivera said there are five Corvettes that are considered “Golden Corvettes.” He currently owns three, but would like to own all five to complete the collection.
“People might say, you´re foolish,´ but these are an investment,” he said. “Their value increases 20 percent per year. There are few ´57s still out there.”
Rivera bought the ´57 Corvette back in 1970 from a man who used to race the car in Tucson, Ariz. The vehicle had won third place in the Ontario 500.
He purchased the vehicle for $3,500. Rivera said a man from Floydada valued the restored vehicle´s worth at $175,000.
Not a bad investment.
Rivera has different shops in the area do the restorations for him because he is “not mechanically inclined.”
“I wish that I did know how, but I have no knowledge of cars,” he said. “I can´t even fix a flat, to be honest with you.”
Rivera said his first attempt at changing a flat in college involved a butter knife, gasoline and a match. After attempting to pry the tire off with a butter knife, lighting it on fire in a desperate attempt to burn it off was the next best idea, he decided.
Rivera has owned and operated Rivera Produce, Inc., since December 1963. The company moved to Plainview 10 years ago. Rivera said his company transports produce, seed, meat, cotton and many other items.
He said his wife, Josie -- who has an extensive Precious Moments collection -- enjoys riding in the ´57 Corvette, so they drive that more than the other two classics. Even then, Rivera said, they rarely take any of them out of the garage.
“It´s mostly going to be in the garage,” Rivera said. “You can´t park it anywhere for fear of someone taking a part from it. I also don´t want the dust to hit it.”
Chevrolet produced 6,330 convertibles in 1957. Of that number, only 664 were a 4-speed manual.
Rivera owns a 38-foot covered trailer to transport the vehicle for car shows, but with time constraints from work he said he is unable to attend any. He is considering hiring someone to show the Corvettes in his place.
Rivera is a member of the Roadrunners Car Club of Plainview and has been offered membership in the Amarillo Corvette Club.
[FONT=Verdana,]Posted to MyPlainview: MARCH 12, 2006 08:04 CST [/FONT]
[FONT=Verdana,]
[/FONT]
[FONT=Verdana,]©Plainview Daily Herald 2006
[/FONT]
Source: http://www.myplainview.com/site/news.cfm?newsid=16289780&BRD=517&PAG=461&dept_id=473182&rfi=6
