0RAAMaudio

Due to just sending two kids off to much more expensive educations than planned on, developing a new product, building a new website and the first time my business has slowed down in 10+ years since started......

I have an 02 Z06 that was a T1 being converted to ST2 when I bought it last year. Since then I went pretty nuts on it until last May when I wanted to get some track time in this season so stopped working on it and have been playing with the car I built for my kids but it is getting pretty fast, fast enough to do me for some time to come.

I have pretty much a full car worth of parts except a built engine, just a low hour LS6 for now.

In the process of building a sq tube framed steel firewall, new cage with much more headroom, fiberglass C6 WC body to install, and much more than the list below.
-
-C6 WC full race body, wing, etc.....brand new, mostly in FG instead of CF with the exception of using stock C6 doors and surrounds( still cost around $15k)
-Stoptech 6/4 pot BBK, race pads (used once to drive on and off a trailer)
-Moton 2 way coilovers, raced 3 times
-Pfadt race sway bars, installed, never driven
-Trans/diff, micro polished, custom 5/6th gears, C6Z oil pumps, Quaiffe LSD, never installed into the car
-Tilton floor mount pedals, MC, etc, NIB
-Clutch Masters dual carbon disk clutch, billet TOB, NIB
-Racepak IQ3, NIB
-Full access software, programmer, NIB
-Custom race wiring harness, NIB
-Woodward steering column, wheel, QR, NIB
-Full safety gear, good stuff, some I am using for the other car right now (I will probably keep the RT4009 seat, harnesses, mounts)
-R3 restraint, top model, NIB
-LG long tube race headers and mid pipes, used 3 races
-Accusump, hoses, fittings, all parts needed, used for some time
-BM shifter
-A ton of fasteners, plumbing, catch cans, SPA mirrors, etc...........
-And much more

-----------------------

Ok, here are the questions.

1) car is not built, do I sell all the parts and then try to sell the frame as is or with the cage and the firewall done, etc.....?

2) build it and try to find a buyer?

3) try to find a buyer and negotiate how much they want built, parts content, etc....?

4) jump off a cliff?

Normally I am slammed with business and will be even more so once the economy pics back up so I do not mind taking a bit more loss by parting it out, finishing just the cage, etc, rather than building the whole car. I know I will lose a huge chunk of the $80k spent so far either way I go.

-----------------------------

One more option, sell a few things at a bit of a loss if needed to get me by until things pick up then build the car for myself (just not so sure I want this much car, responsibility, etc as it takes all my time and resources and I do have a few other interests in life I want to pursue before it is too late)

-----------------------------

Good advice will be warmly appreciated.

So will constructive criticism

Thanks,
Rick

Independent1

^^Faced a similar question this past summer with my own project and decided that parting out was the better way to go. In retrospect, it looks like it was the right decision. Hate to say it but the sum of the parts are worth more than the whole.

And that is just the money end of things. If you finish the build, you will end up spending a lot of time on it that could have been spent doing other things.

Hope that helps.

spazegun2213

these are a few things I've learned buying and selling race cars.
1) You'll rarely get as much for the full car as you will for the parts (this is true with older race cars, but I'm not so sure about C5's)
2) Trying to find a buyer for just a chassis is a really PITA
3) Its MUCH easier to sell an entire car when its done.


Honestly, if you need the money now, part it out and be done with it. However, if you want to sell it quickly, I'd say finish it up, and sell it as a race car. You can part out the cool bits like the brakes, and tranny, for more money.

I would love to see pictures of the car, even in its current state.

Tom03Z06

VetteDrmr

No personal experience with a track car, but I did build a homebuilt aircraft that ended up in a very similar situation.

I'd go with either option 2 or 3. Sounds like you have the capability to build up the car for a customer. Only problem with that is them coming back to you for maintenance, debugging, etc. Of course, if you built the car you'd have to do that anyway.

Good luck, and have a good one,
Mike

gkmccready

My situation like this is still sitting in my garage. I've been sitting on it so long I ended up buying the C6 to enjoy instead of finishing it. That said, I've had the itch to finish it recently... if you can afford to just park it and pick it up in a few months/years... honestly, for me, it's as much an emotional investment in finally getting it out on track now rather than the financials of having a 2500lb paperweight in the garage.

sothpaw2

I guess I don't understand, is the T1 Z06 drivable and all these parts just need to be swapped in to make it a race car?

I would guess part it out. The time you spend building is also a big loss and saving that helps stem your loses. If the Z06 is drivable I would sell the whole car in T1 trim or as close to it as practical without buying anything.

jordan@pfadtracing

Hi Rick,

It's a hard call, post up some pictures when you have a chance!

PM me the price for the Tilton floor mount pedals, MC, etc, NIB. I may be interested in them for the Camaro if it's reasonable.

Kind Regards,

Jordan

L98Terror

I would part it out, I can't image anyone paying top dollar for a car built by you or anyone else that has not been tested. I mean even "fully sorted" cars need sorting.

Good ST2 cars range from $20k - $100k+, my ST2 car will probably be up for sale in the $60k range and it is a National contender and ran the fastest race lap at Nationals. I know the car has over $120k into it.

It looks like you can get a T1 car which would be competitive in ST2 for the mid $20s.


It's all about finding the right buyer

0RAAMaudio

Thanks guys, I very much appreciate your inputs.

I am leaning towards selling off some expensive bits, not dumping them as some I may have to replace later on, say 20% off list, a bit lower than can be bought from anywhere else, etc.

Then completing the cage over the winter, gather up a few missing C5 body parts(I have all the rear sections to make it a fastback for better aero) and put that body on instead of the C6 WC body which I could sell off, hopefully somebody wants it!

Then I can at least have a car ready to finish up and run or more likely to sell and recoup a bit more from the project if I decide I need to let it go.

---------------

The most important thing in my life right now, besides getting through this messed up economy, is getting my last two kids educated. I suffered much because I never finished my education and I do not want them to go through somethings I had to endure. Just because I did not have that piece of paper(though I generally knew far more and performed far better than nearly everyone I ever worked for).

---------------

Thanks again,
Rick

0RAAMaudio

Jordan,
You have first dibs on the pedals buddy if I do sell them

Rick

0RAAMaudio

I am going to list one of my trailers on another thread, I have been thinking of a change in direction so may as well do at least half of that now, sell the one I do not use.

Slalom4me

The RacePak IQ3 Dash/Datalogger ought to find a new home
readily if it is targeted to go.



RacePak IQ3 Logger Dash Details

C6 owners have the added incentive of being able to combine the
IQ3 with the module RacePak now offers. Gather data from the OEM
sensors:
Owners of earlier Corvettes or other marques will not be able to take
advantage of the interface but are sure to enjoy the number of channels
and other features the IQ3 offers for the price.

raam, since D/L equipment seems to adhere somewhat to Moore's Law,
when you are ready for it, a replacement will have more features
and/or cost less.

.

J.R.

Rick,

send me a list of items that you want to part out and pricing.

thanks,

J.R.