I think the
-c option means: given all the item in this directory and recursive subdirectories, give the oldest and newest changed file. So, the oldest item in your working copy was last changed in revision 2, and the newest was last changed in revision 1476.
svnversion without any flag does seem to give the latest revision to which the working copy was updated, not the last changed revision.
If you want the last changed revision, you could use:
svn info | sed -n 's/^Last Changed Rev: //p'