Fair price for Corvette inspection
#1
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Fair price for Corvette inspection
What is a fair price for someone to drive 4 hours and spend another 4 hours to inspect a Corvette? Car has no engine or trans and is positioned on a lift for ease of thorough inspection. I'm just inquiring for a friend.
Thanks,
Rex
Thanks,
Rex
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Dr L-88 (03-13-2018)
#3
Instructor
Three years ago I was charged $500 for a full inspection by a professional appraiser, with at least 2 hours -probably quite a bit more- spent on the car.
I received a 4-page written report (not just boxes ticked on a form, fully-written up), a 20-minute video and about 450 pictures were taken and sent to me.
He charged travel time as well ($65 per hour).
I received a 4-page written report (not just boxes ticked on a form, fully-written up), a 20-minute video and about 450 pictures were taken and sent to me.
He charged travel time as well ($65 per hour).
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Dr L-88 (03-13-2018)
#4
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$500 plus expenses for a whole day. I once however was told by an expert to pay him/her what I thought was reasonable. I paid him/her $700 for almost a six hour round trip with a three hour inspection - including making sure the seller had a place to put the car on a lift.
This person also called the seller and talked to him for 30 minutes and spent at least an hour on the phone with me days before the inspection. Would do it again.
.
This person also called the seller and talked to him for 30 minutes and spent at least an hour on the phone with me days before the inspection. Would do it again.
.
Last edited by dahogan; 03-13-2018 at 04:20 PM.
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#5
Race Director
I usually charge $50 an hour, plus expenses, with a $300 minimum.
I spend about two hours doing the actual inspection, and one to three afterwards, reviewing my notes and pictures, verifying numbers and writing my report. I usually provide about 125-150 pictures also. Additionally, I charge for my travel time, plus tolls, parking, or any other costs, but not gas or miles.
I know two other people who charge about the same as I do, but I also know a few that charge more.
I spend about two hours doing the actual inspection, and one to three afterwards, reviewing my notes and pictures, verifying numbers and writing my report. I usually provide about 125-150 pictures also. Additionally, I charge for my travel time, plus tolls, parking, or any other costs, but not gas or miles.
I know two other people who charge about the same as I do, but I also know a few that charge more.
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Dr L-88 (03-13-2018)
#6
Melting Slicks
As noted in a previous post in this Forum, be aware that some professional appraisers write up a report that discourages you from buying the car.
Their reason is that you will be happy that you had contacted them, and saved you a whole bunch of money by not buying the car, then you will glady use their services again...and again... and again.
Their reason is that you will be happy that you had contacted them, and saved you a whole bunch of money by not buying the car, then you will glady use their services again...and again... and again.
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Dr L-88 (03-13-2018)
#7
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I don't know. I thought this was a hobby. I drove an hour+ each way to inspect a C1 for a member here. Told him it wouldn't cost him anything. I had him on the phone while I was "inspecting".
When he got the car he sent me a gift card at a major chain restaurant. I didn't expect it but I guess he was satisfied as was I.
This stuff is a hobby for me.
When he got the car he sent me a gift card at a major chain restaurant. I didn't expect it but I guess he was satisfied as was I.
This stuff is a hobby for me.
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#8
Team Owner
As noted in a previous post in this Forum, be aware that some professional appraisers write up a report that discourages you from buying the car.
Their reason is that you will be happy that you had contacted them, and saved you a whole bunch of money by not buying the car, then you will glady use their services again...and again... and again.
Their reason is that you will be happy that you had contacted them, and saved you a whole bunch of money by not buying the car, then you will glady use their services again...and again... and again.
I think I'd know pretty swiftly if somebody was bum-rushing me one way of the other. Hell, I would worry more about a dealer slipping the inspector a C-note to pump up the car so a client would purchase it.
Inspectors live and die by their reputations, if they are 'outed' pulling one of these stunts its unemployment time
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Dr L-88 (03-13-2018)
#9
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About ten years ago, a friend of mine had a '62 for sale. Red/black, FI, big brake. The car was spotless.
A potential buyer shows up one day with his "inspector". This inspector was a local hot shot, know it all type. He got to be a regional director. Anyway, he told my buddy his car was worth no more than $45,000.
In less than ten seconds, the buyer and the inspector were seen hauling a.. down the driveway to the safety of a city street.
He later sold the car for $90-$100K. So, Mr. Buyer lost out on buying a good car for a decent price because of his obnoxious "inspector".
A potential buyer shows up one day with his "inspector". This inspector was a local hot shot, know it all type. He got to be a regional director. Anyway, he told my buddy his car was worth no more than $45,000.
In less than ten seconds, the buyer and the inspector were seen hauling a.. down the driveway to the safety of a city street.
He later sold the car for $90-$100K. So, Mr. Buyer lost out on buying a good car for a decent price because of his obnoxious "inspector".
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Dr L-88 (03-13-2018)
#10
Racer
I paid roughly $1,000, but it was a long day for the inspector, I received an excellent report and bought my car without seeing it in person (would have cost me more than $1000 to make the trip).
The car was everything he said. Worth every nickel I paid.
The car was everything he said. Worth every nickel I paid.
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Dr L-88 (03-13-2018)
#11
Instructor
My PPI inspector, Jon Holmes, called me when he was there, wrote up four pages of report, took quite a few photos, test drove the car, and spent quite a bit of time on it. I was quite happy with his work. I should also mention that he told me that if he looked at the car and realized immediately that it was not suitable for me, he would excuse himself and not charge me at all. I thought that was quite generous, but things went much better than that. He also called several friends of his for comparables on Vette prices, AND called me again after that. Strong work, I thought.
Last edited by Jim Rosenthal; 03-13-2018 at 11:21 PM.
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Dr L-88 (03-13-2018)
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Dr L-88 (03-14-2018)
#13
Instructor
That was pretty much what I thought. I don't have much objectivity when I want something, so I'd rather someone who knows more than I do, and doesn't have a dog in the hunt, take the first look at it. There's plenty of time to get enthusiastic after it passes inspections.
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Dr L-88 (03-14-2018)
#14
Race Director
When someone calls me about an inspection, one of the first things I do is warn them that my report will likely make the car sound worse than it is. I will find things that most people never will, and I will photograph every little nick, chip, scratch and imperfection, because I don't want the buyer to be surprised to find something later.
That is quite generous. I will say that I've charged less than my minimum, if I've shown up, and the car wasn't what it was represented to be, or if I found a major issue. If I find something I think is a deal breaker, I'll call the buyer and tell him what I found, but I'll still charge for my travel time. That $100 or $200 in travel time I charged is cheap, compared to buying a car with a rotted frame or a restamped block!
I'm not a certified appraiser, and tell people that up front. I look at cars to determine their condition and correctness. I'll tell someone if I think the car is priced fairly, but I won't put a value on it.
I'm not a certified appraiser, and tell people that up front. I look at cars to determine their condition and correctness. I'll tell someone if I think the car is priced fairly, but I won't put a value on it.
#15
Drifting
Rex,
I do it for the big Chevys (my line) and charge a flat $400. for the documentation plus all travel expenses and $.35/mi. if I drive. I don't charge for my travel time. The documentation outlines the authenticity of the car (regardless of condition).
If the car car is restored and the owner/buyer wants a complete critique as to what is done right or wrong, then I charge $45./hr for that plus the time it takes to prepare a complete written report.
My prices are probably lower than those who inspect Corvettes for obvious reasons.
Verne
I do it for the big Chevys (my line) and charge a flat $400. for the documentation plus all travel expenses and $.35/mi. if I drive. I don't charge for my travel time. The documentation outlines the authenticity of the car (regardless of condition).
If the car car is restored and the owner/buyer wants a complete critique as to what is done right or wrong, then I charge $45./hr for that plus the time it takes to prepare a complete written report.
My prices are probably lower than those who inspect Corvettes for obvious reasons.
Verne
Last edited by W Guy; 03-14-2018 at 01:15 PM.
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Dr L-88 (03-14-2018)
#16
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When I was shopping for a midyear coupe I paid for four different inspections. The costs for those inspections cost me from between $0-$250. That $250 inspection saved me a lot of heartache. He should have charged me $500. Those other guys also should have charged me $500. I did pretty well in all of this, some guys are reasonable, some guys are trying to nurse you along and some guys are just really happy to be sure that you are comfortable with your next purchase.
Ray
Ray
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Dr L-88 (03-16-2018)
#17
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I paid $250 for the inspection on my 1964 coupe in Denver before I went to Denver to see it personally.
Money well spent, as the inspector pointed out some things that I would have missed.
No show stoppers, and I ended up buying the car.
I would do it again.
On the other hand, I have done three inspections for cars in the local area (within 25 miles) over the years for no cost.
I did a full appraisal / inspection on a 1972 big block car that was needed to establish a fair market value for a divorce about 12 years ago. The real estate agent that was handling the house commented that the car was a good 20 footer and should easily be worth $12K to $15K. The agent was on the wife's side in the divorce.
I did not have a side, as I did not know either party. My appraisal came in a $6K, which surprised even me but I had solid documentation and comparables to justify that number. The car was really rough, and it did not take much looking to see numerous major issues.
I prepared a 20 page report, which consisted mostly of documentation of the three comparables for this appraisal.
I also inspected two different 1966 coupes in the local area for a potential buyer from central Florida. Both were decent cars, but not what the buyer was looking for.
I found issues undisclosed (either accidentally or on purpose?) by the seller on both cars.
One of the cars had a bent / damaged frame as a result of an accident early in its life. The other car had a repo trim tag; the original tag had been lost. Both cars had additional minor issues.
Both were great driver cars, but not quite what the buyer was looking for.
I was happy to do these inspections, and didn't accept any payment (it was offered) for any of them.
I would do the same thing today for any car that was local and in my comfort zone (i.e. I would not be comfortable doing an inspection of a Duesenberg, don't know anything about them). But 50s, 60s, 70s, and 80s muscle cars and I am in.
Money well spent, as the inspector pointed out some things that I would have missed.
No show stoppers, and I ended up buying the car.
I would do it again.
On the other hand, I have done three inspections for cars in the local area (within 25 miles) over the years for no cost.
I did a full appraisal / inspection on a 1972 big block car that was needed to establish a fair market value for a divorce about 12 years ago. The real estate agent that was handling the house commented that the car was a good 20 footer and should easily be worth $12K to $15K. The agent was on the wife's side in the divorce.
I did not have a side, as I did not know either party. My appraisal came in a $6K, which surprised even me but I had solid documentation and comparables to justify that number. The car was really rough, and it did not take much looking to see numerous major issues.
I prepared a 20 page report, which consisted mostly of documentation of the three comparables for this appraisal.
I also inspected two different 1966 coupes in the local area for a potential buyer from central Florida. Both were decent cars, but not what the buyer was looking for.
I found issues undisclosed (either accidentally or on purpose?) by the seller on both cars.
One of the cars had a bent / damaged frame as a result of an accident early in its life. The other car had a repo trim tag; the original tag had been lost. Both cars had additional minor issues.
Both were great driver cars, but not quite what the buyer was looking for.
I was happy to do these inspections, and didn't accept any payment (it was offered) for any of them.
I would do the same thing today for any car that was local and in my comfort zone (i.e. I would not be comfortable doing an inspection of a Duesenberg, don't know anything about them). But 50s, 60s, 70s, and 80s muscle cars and I am in.
Last edited by emccomas; 03-16-2018 at 09:11 AM.
#18
Drifting
So a total of an 8 hour day? 8 hours x $75/hour = $600. That sounds "fair" to me. If you expect the person to spend some time after the 4 hour inspection to write up their findings, add that time into the equation.
#19
Safety Car
I have had a few inspections done... I try to find somebody close enough that they don't have to go too far...
Normally, $200-300 is what I have been charged, though, after seeing this thread I would image prices are going up
There are some really good inspectors here though. Really, its better to spend a few hundred bucks and NOT get a car, than ending up with a dog of a car that will cost you a ton later.
Normally, $200-300 is what I have been charged, though, after seeing this thread I would image prices are going up
There are some really good inspectors here though. Really, its better to spend a few hundred bucks and NOT get a car, than ending up with a dog of a car that will cost you a ton later.
#20
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St. Jude Donor '07
I did an inspection once, and it was obvious in hindsight that I didn't know what all to look for that wasn't obvious... I guess that's what comes from owning a 'Heinz 57' car... (all I know for sure is what my car is/isn't)
Bill
Bill
Last edited by wmf62; 03-16-2018 at 06:33 PM.