Hello, This is my first post. I have found a 65 in a neighbor's garage that is up on blocks and half way disassembled. The car looks like it is getting ready to be restored. The owner claims he has most of the parts, badges, trim, etc. The engines runs, but has not been started for over ten years. The engine is not the original. The owner has become ill and can't finish the car. My question is, how do I determine a fair value on this car? I want to make an offer and start my FIRST restoration. Thanks for any help !

 

Hi- "what's it worth" threads should be in General, rather than Cars For Sale.

 

Welcome! We can give you an approximate range of values but we'll need some more information, and pictures would help a lot. First off, is it a coupe or convertible? What color is it, and what options does it have?

Is there any rust in the frame or birdcage (the metal substructure around the passenger compartment? What condition is the body in? You say it runs but hasn't been started in 10 years... so how do you know it runs? Are you sure it's mostly complete?

There are a couple ways to get at fair value: Assuming it's a fairly run-of-the-mill small block car, figure that when it's all restored it'll be worth in the $40,000 range with the non-original motor. Now, if it was originally something special like a documented triple black fuel injected or big block convertible, it'll obviously be worth more. Now add up everything it'll take to finish the restoration and deduct from the $40,000. You can also look at what similar project cars are selling for or try to figure out about what all the parts would be worth if you sold them off. I think you have to take a deduction due to the car being disassembled.

Like I said, give us more information but if it's pretty much complete, there's no rust, the body is decent, and it needs everything, you're probably talking a range of around $12,000 to $18,000. Keep in mind that costs will add up very quickly and you'll likely have more into it than it's worth by the time you're done. Good luck!

 

very, very true....

 

If they give you the car............ you might be OK. If this is your first restoration, plan on spending lots of time and money. Have a 25% or more buffer for cost overrun.

 

The new member is asking a very legitimate question.
I personally don't have enough experience to offer a qualified answer..............but the car has to be worth more than ZERO.

 

Hello Firstcorvette65 and welcome to the forum. As most have stated here ther is not enough information to make a honest opinon on value. Having completed a few frame off restorations on both C-2 and C-3 i can say that if you have the ability and tools to do most if not all the work yourself it can be very rewarding to own and drive what you restored with your own hands and you know everything about the car when your done.

Now as for value, it's worth somewhere in the middle of what the buyer is asking and what your willing to pay or there abouts. Post up some more information and pictures so we can give you some better informed opinons.

Good fairly priced 65-66 project cars are getting harder to locate and when the right one comes along you have to be ready to buy or someone else will be behind you ready to buy also.

 

It's always hard to know what the right, or fair, price is for any given project car. As others have stated, its the price a selller is willing to accept and a buyer is willing to pay after negotiation based on the condition and completness of the car. When I found my 65 FI coupe it was a rolling basket case, but had a solid body needing stripped bare, needed some glass replaced, needed engine and transmission overhauled, needed a complete interior, bumpers, and tons of other stuff like wiring, switches, hoses, etc. so after some back and forth a price in the mid teens was reached and I bought the project, and believe me their were plenty of times I wished I had just bought. Finished car and been done with it. A project isnt for everyone, and I doubt I'll do another but it can be a great experience if your willing to dig in, get dirty and spend some serious time and money. With a NOM in rough shape I would guess mid teens, unless there is something unique about it. Just my opinion.

 

I agree with the above posts but there is something else for to consider - your skills and what you enjoy doing. I agree that you don't want to have $50K into a $40K car but there is satisfaction of doing everything yourself and for some of us, that is more important than the finished product. I would much rather buy a car for $20K, put $20K into it (plus all my free labor) and have a $40K car than to just go out and buy a similar $40K car. Another point is that some people can't afford a $40K car but they can afford to get into something cheaper and add to it as the funds become available.

Jim

 

Very well said. A project car isn't for everyone but when you do it yourself you know everything about the car. Plus working on them is a fun pastime, and there's nothing like driving a car you restored yourself.

 

Plus you will need good eyesight for closeup work and be able to work upside down under the dash, under the frame & have lots of tools and bandaids. A double garage is needed because you'll need the space.

 

When you examine this car for purchase everything is easy to fix except the Birdcage. Even the Frame can be replaced but a bad birdcage is really tough unless you have special skills, tons of time and are talented. There are posts on this forum that tell how to diagnose a good or bad birdcage.

 

Boy isn't that the truth. Really be prepared for awkward working environments and the close up advice under a dash or on the headlight motors is spot on. I finally had cataract surgery to replace the lenses in both eyes and all of a sudden I could see what my under dash area really looked like. Best wishes on your build. You'll have fun and frustration at the same time.

 

Don't you just love these threads where everyone tries to be all helpful and offer advice, and then we never hear back from the original poster... no update, no thanks. He hasn't even been back on the forum since he posted this.

Maybe he'll come back and let us know what happens, or at least take the time to read the replies.

 

Maybe he's doing his research, figuring out what trim tags and engine stamps mean and whatnot. Or he could just be out of town.

 

maybe he had a stroke and is in the hospital after he read all the work he is going to have to do. Or he could just be out of town.

 

A triple stall garage would be better. I have a detached triple now and I still don't have enough room to do what I need to do. Maybe I'm just messy and can't seem to organize the way I should.

Steve

 

That's why I'm going big with my garage. Only two cars going in it now, but room enough for 4.

 

If you could make money restoring Corvettes....everyone would do it...

Anyway.....$12,000 is the number judging from the description.....

Expect to spend $20,000 restoring it....and you will never get your labor back.....

Vettes are fun.....they are surprising easy to work on as well....but the devil is in the details.....purchase carefully.

Jebby

 

The only time I've lost money on a Corvette were the 3 I bought new but I knew that going in. All the others that I've restored, I made money on them. After doing it for almost 40 years, I can look at a project car and can come within a few hundred dollars of the total cost for me restore it.

Jim