1960CorvetteJake

Hello,

I would like to possibly purchase this 1960 corvette. However, I am not sure what an honest value/price is considering its overall condition. Below is an overview of the car. He is an older gentlemen whom due to medical reasons, cannot enjoy the car anymore. The car has been in his possession for over 30 years and in 2008 received new interior and paint. What is something like this worth?

Speedometer/odometer does not work
327 carbureted engine (Possible late 60s engine)
4 speed
Hard top included
2nd owner


Any advice would be much appreciated. FYI I am 24 years old and considering this purchase an investment/something to take to local car shows.

Regards,

Jake

GTOguy

Does it run and drive? If so, about 35-45k. If not running, probably about 30-35k, depending on condition. Anything under 30k usually needs 100k worth of restoration. IF you are a mechanic/mechanical, these cars can be ok long term investments. If you are not, forget it. They can be real money pits. Buy it because you want it, not for an investment. FWIW, I've always owned musclecars, since I was 18. I still have two GTO's I got when I was younger than you are now. They've gone up over 20X in value. So yes, old cars can be good investments, but all the stars have to align and it takes TIME. Post a PICTURE or two. Other seasoned experts will chime in.

1960CorvetteJake

1960CorvetteJake

Yes the car runs and drives. He has not been able to drive it for the past few years however, he has routinly started it up.

Easy Rhino

Sorry, Jake, but you're going to get mostly meaningless answers due to the lack of detailed information about the car, as the value of these cars is in the details, and you provided very few.

It is favorable that it is the second owner (but needs to be provable with documentation, or it's hearsay), but the condition and degree of originality is vitally important in establishing value. The absence of the original engine does reduce its value, pretty much regardless of what engine is now installed).

Detailed pictures help a bunch.

Good Luck.

I drove a nice ten footer 1960 about a month ago a local enthusiast wanted $45K for, and I'm pretty sure he got close to that. It was a mostly original car, and solid driver, in good driver-quality condition, and could have been a very good start for a NCRS, show winning type car for not too much. It was sold to a dealer in the mid-south for in that same range and sold quickly on ebay shortly thereafter.

I now see you additional posts, Jake.

First, these cars are not good investments for a financial portfolio (check the other thread about forgetting stocks and buying classic cars). With almost no exceptions, and none in the Corvette forums, cars are poor long-term investments, compared to most any normal investment vehicle, and any chance of making a killing on one is all about fantasy.

If you have the skills to do the work, the time to do it without detracting from more valuable pursuits (e.g. Being a spouse, parent, worker, community member), the place for it to sit for long periods in various stages of disassembly, the resource margin for some expensive parts, and are okay with a lower the market return on your investments, then work on a price, but always remember that it would be a recreational item, and possibly a costly one.

The car looks like a nice starting point, and I myself would love to have a 58, or a 59-60, so I understand your interest.

Again, good luck.

wraplock

anything running in drivable condition is going to bring $35-45K. This car has aftermarket wheels, the wrong shifter and the interior is not original pattern. These things coupled with the wrong motor lead me to think you are hovering on the lower side of these numbers. The courtesy light switches and door strikers have been painted over, not what I would call a quality job.....Would like to see the under hood to see what all is there or missing. I think this is a nice driver but not a good candidate for investment grade. My two cents and worth what you paid. Good luck and post more photos if you can.

Don

Frankie the Fink

None of this means anything if the frame is rotten -- to me, in your situation, that's a deal killer. The area just ahead of rear wheels at the kick ups is the area you want to look at hard. Next is the 50+ year old wiring; if original and anything is jacked up then you have a rewire ahead of you - doable but not cheap.

MOXIE62

Also check the rear crossmember. They are bad about rusting there. The area would be right where the cross member attaches to the frame side rails. Take a small hammer and tap on all these areas. If you find any rust out at all, run.

vettepoor

Since the odometer is not working and mileage is unknown, I would also check front suspension components for wear. These old kingpin setups can be expensive to repair, the key being proper maintenance (regular lubing). Overall it looks like a decent driver and I would agree with above comments. Good luck!

SDVette

If the frame is sound, and the engine and trans are working, you can do a "rolling restoration" if you are handy and willing to learn. By "rolling restoration", I mean break it up into bite-sized projects as you have the time/money/desire to take them on (interior, chrome, engine bay, trunk, etc.). That's what I did. From your photos it seems like some of this has already been done.

I wouldn't plan on getting rich from it (see related thread)... but it's a great way to learn about old cars, meet really interesting/helpful people, and have an automatic conversation starter whenever you drive it!

GTOguy

As said, the value is in the details....and the pics of the interior show thousands of dollars of deductions. Just replacing the modified door panels will run you $2500 plus. The seats, add more $$. Looking like a 30-35k car at best, if the frame is rust free. Certainly not 40k material.

1960CorvetteJake

Thank you all for your input. I am planning to see the car in-person this Sunday; will take plenty of pictures. He is asking $58,000. However, I have a feeling he will accept a reasonable cash offer. Standby for more detailed pictures and information.

Much appreciated! Hopefully I will have a new toy to explore/work on next week.

Bowtyeguy

I just got home from Carlisle and looked at a really nice 60 with 2 4s on it. Very nice paint and frame but had a couple tears in driver seat and grab bar needed replaced. They were asking 50k or best offer. This car was really nice. If you need a comparison and was same color as yours.

jasonsamara

I wouldn't pay 58k because to do the interior and chrome and tires is gonna set u back 10k so now ur at 68k. I would try for around 30 and walk it up to 35k. Be nice and talk to him, a lot of these owners want them to go to a good home.

SDVette

Maybe the refurb numbers mentioned here are to send it off turnkey.. but I didn't spend anywhere close to these numbers on my car.

My total chrome/stainless bill was $2000 (I removed and re-installed all parts myself)
Interior (soft top, carpet, seats, cluster, instruments, package tray, etc.) was $2500
Hubcaps and new tires were $1000 (I had wheels).

So maybe closer to $5500 if you do the grunt work yourself.

I only mention this because when I first posted on the board, several members threw around HUGE dollar numbers for things. It almost scared me off. Almost. I'm here to tell you you can make these cars nice on a budget if you (1) Do the labor yourself, (2) Re-use re-furb as much as possible, (3) Be OK with not achieving perfection/NCRS.

All that said - I think $58K is too much.

ptjsk

You know, upon first glance I would be worried about somebody attempting to take advantage of an old guy who may or may not know the correct value of these cars.

But after reading, I would be more concerned about the old guy attempting to take advantage of a young guy who has limited/no knowledge of these cars.

I think 58K for this car is way out of line, but I really can't tell by the limited pictures provided.

The best thing that could happen is if you found somebody (who knows these cars), who is willing to go with you and look the car over.

Don't worry, that car isn't going anywhere fast if the owner is hung up on getting 58K.

Revfan

Then this aint the car.

If you have 58 Large to spend, you can find C1s in better condition that are closer to your stated goal.

Frankie gave you what to look for. Frame issues on this car would be the deal killer. This car looks to be a "buy to drive as is after confirming/making it safe for the road".

Trying to make it a stock resto job will get you in the red in a hurry.

Here is an example of what else is out there for close to that $58 Ask
1961 CORVETTE CONV/HARD TOP - $59500 (sarasota)


And here are some cars from my newly updated "Opinions on these C1/C2s For Sale" Thread where I list "mostly" driver quality cars under $50K




1962 Corvette - $39750 (Prescott, AZ)

1958 Corvette - $40000 (Los Angeles)

59 Corvette - $40000 (san luis obispo)


'62 CORVETTE Convertible - $49500 (Windsor)

1962 Chevy corvette - $48500 (louisville)


1962 CORVETTE (Hagerstown)


1961 corvette - $52500 (Kalamazoo)

Frankie the Fink

I don't know where those high numbers that get thrown around so much come from. And, if you work through a single supplier and tell them you are doing a large-scale restoration you can get a pretty substantial discount off retail prices....

Also agree that $58K is too much. For another $15K I know where the OP can get a no-excuses, true turn-key '61 WITH an original motor

jasonsamara

I had 2500 in the w/s restoration and Paul's chrome did the plating. You can save money if u build it yourself but I was afraid of breaking the glass. $900 was door post plating at Paul's also. Acc carpet was a few hundred. New knoch interior was around 3k. Tires were about 900. Steering wheel restoration was $650. Refinishing wheels and speaker, signal hub, bezels, package tray, heater cover were several hundred. New grille, headlight bezels upper and lower surrounds were several hundred. I did all the work myself except w/s assembly. I'm sure I could have come in cheaper but I wanted it to be high quality to last a long time. Good luck and if u do take the plunge people on here r great to help. Another thing to consider is my 66 coupe was bought for 33k when the day I found it he was wanting 60 or 70k. Now it took 2 years to get it but in the end I got it.

jasonsamara

Deck latches and emblems were another 500