Opinions on these C1/C2 for sale
01-16-2020, 05:45 PM
#5141
Racer
I didn't want to get into a debate with him because how do you prove to someone without spending significant time to provide the seller with a market research study. From his perspective, he thinks I'm a prospective buyer and of course I'm going to say that his price is too high. That's what any prospective buyer would say hoping to try to negotiate a better price. I'm glad you guys are sharing your thoughts on this because it simply underscores what I told him - and that is that $125,000 is simply too much money to ask for the car he's selling.
Thanks guys.
As stated, I'm not interested in his car and more interested in helping him to learn what others think about his asking price.
Thanks guys.
As stated, I'm not interested in his car and more interested in helping him to learn what others think about his asking price.
If he had sold his Corvette five years ago for $82,000 and put his money in an S&P 500 Index Fund (which went up 65% over those 5 years), he'd have his $125k.
Obviously, no guarantee the market investment will continue to rise like that.
.
Last edited by Ron-C2; 01-16-2020 at 05:46 PM.
01-16-2020, 09:12 PM
#5142
Drifting
Ha ha. As a buyer that's been in the market/search for a couple of years, I have seen a few small block cars priced at or near this car's asking price that are STILL for sale today! Obviously, setting a price for a classic car (that has also been restored) requires a thorough understanding of the current classic car/corvette market and also requires that you be aware that restoration costs are not always recouped at the sale of said car. I feel the seller in this case has the right to price his car where ever he wants, but I also feel the seller in this case (asking $125,000 for a small block car with less than ideal paperwork) is out of touch with regards to pricing. But I'm just one person with just one opinion, and I admit that I am capable of being wrong. 
If you're genuinely interested in helping the seller sell his car, even if you're not interested in buying his car, after all this pontificating surely you have formulated an opinion of what this gentleman's car is worth, if not $125,000?
01-16-2020, 10:25 PM
#5144
Melting Slicks
Given your familiarity with the market (after searching for a couple of years now), and since you've already made several posts sharing your thoughts and feelings regarding the seller's price, would you be kind enough to share with us what you think a fair price for his car would be?
If you're genuinely interested in helping the seller sell his car, even if you're not interested in buying his car, after all this pontificating surely you have formulated an opinion of what this gentleman's car is worth, if not $125,000?
If you're genuinely interested in helping the seller sell his car, even if you're not interested in buying his car, after all this pontificating surely you have formulated an opinion of what this gentleman's car is worth, if not $125,000?
01-16-2020, 10:29 PM
#5145
Melting Slicks
https://www.hemmings.com/classifieds...e/2363320.html
Copied / pasted from Hemmings:
Location: Bellingham, Washington, 98229
Mileage: 59,631
Transmission: Manual
Condition: Excellent
Exterior: white
Interior: red leather
Seller’s Description:
Corvette 1967 coupe, #s match factory stamped L79 327/350 hp, 4-speed, high-option 2-owner CA car, pw, a/c, white, red leather interior, bolt-ons, sidepipes, off-road exhaust, fresh rotisserie restoration, low 59,631 original miles, full documentation including Protect-o-Plate.
Call Garry at 360-220-2500
Price: $125,000
To the best of my recollection here is what I learned about the car during conversations with the seller:
• The original owner (a school principal, who may still be alive) owned the car from new to 1999.
• The current owner is the 4th owner of the car
• The current owner spent $50k to restore the car (frame off restoration)
• The car’s paint (at the time of the current owner’s purchase) was original and sun bleached which was the primary reason for the restoration process.
• During the restoration the frame was lacquered and the car’s current paint is lacquer
• This car had another car’s tank sticker applied to the gas tank – this is what I was told and obviously can’t confirm nor deny this
• The car has a little more than 59k miles
• Car was restored by Mike Boyman who used original GM or NOS parts
• The car has been sitting for 6 years
• I do not know how well the car runs, perhaps it runs great, the current owner didn’t say anything about the car not running well nor did he say that the car ran well; simply forgot to ask
• Original under car exhaust, side pipes added
• The bolt on wheels seen are aftermarket and not N89 bolt on’s
• The car’s body has never been hit
Added:
I told the owner that I was not interested in purchasing this car but that I would share the information I learned about his car with the Corvette Forum in hopes that the car finds a good home. After learning the above I asked him how/why he came up with figure of $125,000. He stated that $125,000 is what he has in the car (purchase price + restoration costs). I told him that I felt $125,000 was a premium price for what he's selling. I also told him that my opinion was only one person's opinion and that others on this forum would be able to provide differing opinions and that he could learn from reading other's opinions if his price at $125,000 is reasonable or not. So, please feel free to offer your thoughts and/or opinions for the benefit of the seller if nothing else. I told him I'd forward / share this post with him for his benefit. Thanks.
Ha ha. As a buyer that's been in the market/search for a couple of years, I have seen a few small block cars priced at or near this car's asking price that are STILL for sale today! Obviously, setting a price for a classic car (that has also been restored) requires a thorough understanding of the current classic car/corvette market and also requires that you be aware that restoration costs are not always recouped at the sale of said car. I feel the seller in this case has the right to price his car where ever he wants, but I also feel the seller in this case (asking $125,000 for a small block car with less than ideal paperwork) is out of touch with regards to pricing. But I'm just one person with just one opinion, and I admit that I am capable of being wrong.
01-17-2020, 01:41 AM
#5146
Drifting
Thanks for letting us know. If it's true, that's strong money for a car that has a tank sticker on it from another car.
01-17-2020, 02:17 AM
#5147
Race Director
And you are putting it mildly. The old adage about a fool and his money comes to mind........
The following users liked this post:
856666 (01-17-2020)
01-17-2020, 04:11 AM
#5155
Le Mans Master
01-17-2020, 04:32 AM
#5157
Burning Brakes
pricing
Always appreciate this thread. And the pricing "discussions" never gets old. 
With Barrett-Jackson underway now and Mecum Kissimmee just ending... gotta ask... Don't sellers know the realistic prices?
With Barrett-Jackson underway now and Mecum Kissimmee just ending... gotta ask... Don't sellers know the realistic prices?
01-17-2020, 11:05 AM
#5159
Melting Slicks
Yep, I agree. There must have been something EXTREMELY special about that car that I simply didn't see/know about to get that kind of cash. I've seen many L79's that I thought were in better shape, better optioned, better restored, etc. sell for less, even substantially less. That's why I say there must have been something EXTREMELY special about that car that I simply didn't see/know about to get that kind of cash in my (one person's) opinion.
01-17-2020, 11:12 AM
#5160
Melting Slicks
^^^^ sarcasm intended
