Too bad about the value of Corvette Restomods ?
01-18-2018, 06:28 PM
#41
Burning Brakes
Thread Starter
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mike coletta (01-30-2018)
01-18-2018, 07:05 PM
#42
Race Director
I had the pleasure of working on this car numerous times...and I know what was in it initially. And who ever bought it...GOT A DEAL!!!!!!!!!!!!!!!!
http://www.barrett-jackson.com/Event...M-COUPE-189966
DUB
http://www.barrett-jackson.com/Event...M-COUPE-189966
DUB
01-18-2018, 07:46 PM
#43
[QUOTE=Big Hit;1596394928]In general I think the prices are UP regarding Quality Resto Mod Builds.
As ALWAYS it only takes one person....
What's crazy to me is people follow a car, then and only then purchase the car at AUCTION paying 20% more for the exact car...
20% ??
how does a buyer pay 20% more??
As ALWAYS it only takes one person....
What's crazy to me is people follow a car, then and only then purchase the car at AUCTION paying 20% more for the exact car...
20% ??
how does a buyer pay 20% more??
01-18-2018, 07:59 PM
#44
Race Director
Member Since: Nov 2003
Location: Cottonwood AZ
Posts: 10,698
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C1 of Year Finalist (performance mods) 2019
[QUOTE=GC2X4;1596405804]
Built in seller fee of 10%, buyers fee of 10% and sales tax which in some states there is none between private parties= 30%
In general I think the prices are UP regarding Quality Resto Mod Builds.
As ALWAYS it only takes one person....
What's crazy to me is people follow a car, then and only then purchase the car at AUCTION paying 20% more for the exact car...
20% ??
how does a buyer pay 20% more??
As ALWAYS it only takes one person....
What's crazy to me is people follow a car, then and only then purchase the car at AUCTION paying 20% more for the exact car...
20% ??
how does a buyer pay 20% more??
The following users liked this post:
Big Hit (01-22-2018)
01-19-2018, 05:21 PM
#45
Racer
I'm thinking that last car is going to be really hard to sell for anything close to the build cost. Chopped windshield, probably doesn't even have a top. Not a universally accepted vision of good taste overall. Tough sell by any measure. You would need to find some rich guy buying on a whim. Barrett Jackson with liquored up buyers would probably be the best place. Glad I don't have to worry about it.
01-19-2018, 06:58 PM
#46
Drifting
A friend in the Corvette Resto business tries to do one car for an auction every year. At his last auction, he was asked why he didn't do restomods? His answer was "I KNOW I'll have at least 2 bidders on a resto; choose the wrong color on a restomod and I may eat that car for a year.".
01-20-2018, 07:37 PM
#49
Burning Brakes
01-20-2018, 08:10 PM
#50
Pro
Last edited by jet-tech; 01-20-2018 at 08:11 PM.
01-20-2018, 10:22 PM
#51
Pro
Last edited by jet-tech; 01-20-2018 at 10:27 PM.
01-20-2018, 10:31 PM
#52
Race Director
Member Since: Mar 2009
Location: Canada's capital
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2020 Corvette of the Year Finalist (appearance mods)
C1 of Year Finalist (appearance mods) 2019
People who are older and have deep pockets want to find a nostalgic looking car with all the amenities of a new car. Prices of restomods are topping all but the most exclusive rare original cars.
WHEN I win the lottery
.....I'll be sending my base motor 62 out to be modernized! 
WHEN I win the lottery
.....I'll be sending my base motor 62 out to be modernized!
01-20-2018, 11:36 PM
#53
Burning Brakes
Thread Starter
For those who said that the price of a restomod depends on what a buyer is willing to pay for it - here you go !! (of course the response from the naysayers will be that those buyers were too drunk to know any better).
01-21-2018, 09:45 AM
#54
Team Owner
Member Since: May 2005
Location: Madison - just west of Huntsville AL
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I have a friend that does both original restorations and rsto-mods.
He does not build cars on SPEC, particularly resto-mods. He has a dedicated buyer under contract before he invests a dime or a minute of time.
I helped him locate a 58 basket case car as a starting point for a high dollar resto-mod a few years ago. Can ended up with a Street Shops chassis, LS motor, all options, top quality leather interior, etc.
He told me he had about $110K in the car, plus his labor. His contract, as I recall, was for $175K for a turn key 58.
I have since learned that the original buyer sold the car for a profit after owning it for six months.
He does not build cars on SPEC, particularly resto-mods. He has a dedicated buyer under contract before he invests a dime or a minute of time.
I helped him locate a 58 basket case car as a starting point for a high dollar resto-mod a few years ago. Can ended up with a Street Shops chassis, LS motor, all options, top quality leather interior, etc.
He told me he had about $110K in the car, plus his labor. His contract, as I recall, was for $175K for a turn key 58.
I have since learned that the original buyer sold the car for a profit after owning it for six months.
01-21-2018, 03:41 PM
#56
Race Director
OTOH, I am not going to plunk down $400K for a restomod. I could write the check, but I would notice a serious dent in the bank account, not like if i just won 280mil in the lottery...
Doug
01-21-2018, 05:10 PM
#57
Burning Brakes
01-21-2018, 05:14 PM
#58
Burning Brakes
Doug these cars are so nice even the under side got to wonder if they get driven. Guess if you can throw down $400K for a toy you will drive it.
01-21-2018, 05:18 PM
#59
Melting Slicks
Just got home from the auction and my jaw is sore from hitting the floor multiple times. Lots of beautiful Corvettes and congrats to a few of the members here that were on the selling end.
I stared at that $400,000 58 for 40 minutes, and after I was over the sticker shock I noticed it was #2301. Mine is #2350 and looks like crap compared to it's twin.
I stared at that $400,000 58 for 40 minutes, and after I was over the sticker shock I noticed it was #2301. Mine is #2350 and looks like crap compared to it's twin.
Last edited by GTs 58; 01-22-2018 at 02:32 AM.
01-21-2018, 05:35 PM
#60
Melting Slicks
I too am shocked by the prices but am now a believer. I think it’s good for everyone as I now know if my original motor ever goes out, I have a path to keeping l, or even increasing its value.
While I’d never pay $250-$400k for any car, I’m very happy to see someone will!! I also thought most of the restomods at the auction were beautifully done.
Ed
While I’d never pay $250-$400k for any car, I’m very happy to see someone will!! I also thought most of the restomods at the auction were beautifully done.
Ed
Last edited by emdoller; 01-21-2018 at 05:36 PM.