[C2] Should I send the seller of my 65 a check?
#1
Team Owner
Thread Starter
Should I send the seller of my 65 a check?
Last month I purchased a 65 convertible from a used car dealer. I just saw the discussion here on the forum about the Valley Auto yellow car linked here:
https://www.corvetteforum.com/forums...lley-auto.html
Be sure to look at the frame and engine pictures. Asking price $47,500.
Now my car has a good frame and birdcage. It also has a Keisler 5 speed, 3.55 Duntov rear, tilt wheel with 4 way flasher, Classic Auto Air, direct bolt ons, Detroit Speed headlight conversion, L79, new tan cloth soft top, near perfect interior, power rack and pinion steering. Price: $48.500 shipped to me in NC. I'm starting to feel like I may have underpaid the poor dealer in Fla.
My point here is: How can you possibly value or price a car based on asking or selling prices when these two cars were priced within $1000 of each other. I've owned C2's for 50 years now, and I've never seen such crazy gaps in prices. A car that can barely be rebuilt will bring within a few thousand of a car that is very presentable. Before someone says that my car is far from original (which is very true), I'd like to mention that last year I sold a 65 coupe with factory a/c, p/s, p/b that was completely original except for paint and maintenance items for $50 K to a different dealer. I guess I'm too old to understand today's value system for these cars.
For comparison with the linked car, here's a few pictures of my new 65.
https://www.corvetteforum.com/forums...lley-auto.html
Be sure to look at the frame and engine pictures. Asking price $47,500.
Now my car has a good frame and birdcage. It also has a Keisler 5 speed, 3.55 Duntov rear, tilt wheel with 4 way flasher, Classic Auto Air, direct bolt ons, Detroit Speed headlight conversion, L79, new tan cloth soft top, near perfect interior, power rack and pinion steering. Price: $48.500 shipped to me in NC. I'm starting to feel like I may have underpaid the poor dealer in Fla.
My point here is: How can you possibly value or price a car based on asking or selling prices when these two cars were priced within $1000 of each other. I've owned C2's for 50 years now, and I've never seen such crazy gaps in prices. A car that can barely be rebuilt will bring within a few thousand of a car that is very presentable. Before someone says that my car is far from original (which is very true), I'd like to mention that last year I sold a 65 coupe with factory a/c, p/s, p/b that was completely original except for paint and maintenance items for $50 K to a different dealer. I guess I'm too old to understand today's value system for these cars.
For comparison with the linked car, here's a few pictures of my new 65.
Last edited by 65GGvert; 02-16-2018 at 09:35 PM.
#3
Le Mans Master
Don't sweat it. You bought a good car for a fair price, there is someone out there asking a big (similar) price for a car much inferior. Nothing new there- Valley Auto or Streetside Classics or Gullwing Motors or Beverly Hills- all cars asking over what I consider market looking for a sucker.
Do not over-analyze it my friend.
Benton
Do not over-analyze it my friend.
Benton
#5
Team Owner
Thread Starter
Don't sweat it. You bought a good car for a fair price, there is someone out there asking a big (similar) price for a car much inferior. Nothing new there- Valley Auto or Streetside Classics or Gullwing Motors or Beverly Hills- all cars asking over what I consider market looking for a sucker.
Do not over-analyze it my friend.
Benton
I agree with you, it just seems like the really bad cars are increasing in price a lot faster than the pretty nice cars. I won't even get into the survivors or big blocks, or tankers, etc. All those high dollar cars seem to be going to pretty much the same set of buyers to stick in their museum collection.
Do not over-analyze it my friend.
Benton
I agree with you, it just seems like the really bad cars are increasing in price a lot faster than the pretty nice cars. I won't even get into the survivors or big blocks, or tankers, etc. All those high dollar cars seem to be going to pretty much the same set of buyers to stick in their museum collection.
Last edited by 65GGvert; 02-16-2018 at 10:10 PM.
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zangx1 (02-17-2018)
#6
Team Owner
Thread Starter
See "my point here is" in my original post. Lots of people here very free to offer what a car's worth based on a description or a few pictures. It's simply not valid. I didn't post to start or participate in any arguments about it, just musing the inconsistency.
#7
Le Mans Master
Beautiful car Jack. Being the electrical guru you are, I'm a bit surprised to see the temp sending unit not hooked up. Seriously, a splendid purchase
#8
Team Owner
Thread Starter
Last edited by 65GGvert; 02-16-2018 at 09:53 PM.
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leif.anderson93 (02-16-2018)
#9
Safety Car
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Looks like you purchased a very nice car for a fair price, but I do agree with you. There are prices all over the board for nice cars, parts cars, project cars ect....
I think the ones who do the correct amount of "homework" will know when the time, as well as the price, is right.
Pat
I think the ones who do the correct amount of "homework" will know when the time, as well as the price, is right.
Pat
#10
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St. Jude Donor '09-'10-'11-'12-'13-'14-'15-'16-'17-'18-‘19-'20-'21-'22-'23-'24
The only number that matters is the actual selling price. That means the buyer and the seller agree - reluctantly or not - that's what THAT car is worth to THEM at THAT time.
Anybody else's asking price, selling price, or the condition of anybody else's car, or how the selling price was arrived at, is irrelevant.
Anybody else's asking price, selling price, or the condition of anybody else's car, or how the selling price was arrived at, is irrelevant.
#11
Burning Brakes
On the flip side my cousin just sold his mint 70 roadrunner 383 air grabber pistol grip to a used car dealer for $30k after 15 years of ownership. The used car delarship flipped it in 3 weeks for $37 after listing it for $39k
#12
Melting Slicks
I agree that prices are all over the board and wonder why basket cases and what looks like junk are so high.
I sometimes think I paint too much for my '66 and '67 and the next day, the prices seem about right for what they are.
There are very few apples to apples.
I sometimes think I paint too much for my '66 and '67 and the next day, the prices seem about right for what they are.
There are very few apples to apples.
#13
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2023 C3 of the Year Finalist - Unmodified
2021 C8 of the Year Finalist Unmodified
2020 Corvette of the Year Finalist (performance mods)
2019 C1 of Year Winner (performance mods)
2017 Corvette of the Year Finalist
2016 C2 of Year
2015 C3 of Year Finalist
Asking prices and sold prices are two very different things. Any potential purchase should be thoroughly inspected prior to purchase.
Looks like you got a very nice 65
Looks like you got a very nice 65
#14
Race Director
My point here is: How can you possibly value or price a car based on asking or selling prices when these two cars were priced within $1000 of each other. I've owned C2's for 50 years now, and I've never seen such crazy gaps in prices. A car that can barely be rebuilt will bring within a few thousand of a car that is very presentable. Before someone says that my car is far from original (which is very true), I'd like to mention that last year I sold a 65 coupe with factory a/c, p/s, p/b that was completely original except for paint and maintenance items for $50 K to a different dealer. I guess I'm too old to understand today's value system for these cars.
Your car, even as nice as it is, as you said is a modified car, and you're comparing it to a stock one.
Secondly you're comparing a 65 to a 67, and in this market there is no comparison, 67's always demand a premium.
Finally, in the case of your coupe, it may have been stock original, but it's both a 65 and a coupe. Other than split window's, convertibles always command more than coupes, especially when comparing a 65 coupe to a 67 convertible.
Restored that 67 could sell for $75,000-$80,000, especially at a dealer. I realize that it would be hard to restore it for $30,000, but a lot of people don't.
#15
Team Owner
I'm not sure I understand the consternation about a free market system.
I can ask whatever I want for anything (regardless of quality/condition) and a seller may pay whatever they want for anything.
If you try to impose some rationale on it then you are simply in denial about human nature...
I can ask whatever I want for anything (regardless of quality/condition) and a seller may pay whatever they want for anything.
If you try to impose some rationale on it then you are simply in denial about human nature...
#16
Team Owner
Thread Starter
I think you're comparing apples and oranges.
Your car, even as nice as it is, as you said is a modified car, and you're comparing it to a stock one.
Secondly you're comparing a 65 to a 67, and in this market there is no comparison, 67's always demand a premium.
Finally, in the case of your coupe, it may have been stock original, but it's both a 65 and a coupe. Other than split window's, convertibles always command more than coupes, especially when comparing a 65 coupe to a 67 convertible.
Restored that 67 could sell for $75,000-$80,000, especially at a dealer. I realize that it would be hard to restore it for $30,000, but a lot of people don't.
Your car, even as nice as it is, as you said is a modified car, and you're comparing it to a stock one.
Secondly you're comparing a 65 to a 67, and in this market there is no comparison, 67's always demand a premium.
Finally, in the case of your coupe, it may have been stock original, but it's both a 65 and a coupe. Other than split window's, convertibles always command more than coupes, especially when comparing a 65 coupe to a 67 convertible.
Restored that 67 could sell for $75,000-$80,000, especially at a dealer. I realize that it would be hard to restore it for $30,000, but a lot of people don't.
Last edited by 65GGvert; 02-17-2018 at 08:09 AM.
#17
I've seen this many times with different paint colors. Crap car in a more desirable color gets all of the attention. A lot of people won't even look at a green car. I'm put off by brown cars personally.
#18
You should feel shame at what you did. Give the car to me and feel better about yourself.
#19
Team Owner
Thread Starter
EDIT: I just noticed that you're in Canada. You'll have to meet the delivery across the border. I don't ship out of country. Sorry.
Last edited by 65GGvert; 02-17-2018 at 08:28 AM.
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Black 03 Z06 (02-17-2018)
#20
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St. Jude Donor '05
Love the BB hood and that steering wheel, looks right at home and gives room...nice and clean
Think many that dont do enough research fall for buzzwords like barn find survivor etc. Or apic that reminds them of "back in the day" only to find in person that age takes its toll on everything. Give me a redone car anyday over one that has 60 yr old everything.
Why pay 50k for something that looks decent but really needs to have the body taken off cause they let it all rot underneath? no thanks.
Think many that dont do enough research fall for buzzwords like barn find survivor etc. Or apic that reminds them of "back in the day" only to find in person that age takes its toll on everything. Give me a redone car anyday over one that has 60 yr old everything.
Why pay 50k for something that looks decent but really needs to have the body taken off cause they let it all rot underneath? no thanks.