Hoping some of you Vette enthusiasts can help me out here as I am lacking knowledge on this and am having trouble finding the answers online.

I have inherited a 1957 Corvette that has had some restoration work done but was never completed. There was some documentation with it and according to the papers this is what I know.
- The Vette was purchased from a racetrack in 1989 with the original engine, and according to the papers it is a fuel injected V8. The odometer reading according to the papers is 700k miles, so it is extremely heavily used as a racecar.
- The chassis has been professionally repainted and has shiny looking chrome finishings, I am not sure if the chrome is original but I doubt it given the age and amount the car was used.
- Boxes and boxes of parts have been purchased for the restoration and I have them and according to the papers the only things that are missing are the interior seats and the front windshield glass. The transmission and drivetrain is intact and installed on the car and as far as I know it is original.

Given this information and assuming it is accurate, I have the following questions:
- What is the rough current sale value of the car as is?
- How much (rough estimate obviously) would it cost to complete the restoration given the fact that I don't have the car knowledge to restore it myself? (IE Install the already purchased parts, rebuild the well used engine, acquire and install the seats and windshield + labor)

I understand this is a tough question to answer likely but anything you can share would likely be a big help to me. If it's feasible to have it restored myself I would love to do so as it is a beautiful rare car.

 

Wow! 700k miles or 68k a year or 186 miles a day for 24,820 days! That has to be the highest mileage Chevy in existence let alone Corvette. That must be worth something alone.

 

I can only say, Welcome to the CF! Beyond that, I'll rely on our collection of C-1 owners to give their thoughts. Dennis

 

Thanks for the laugh, I suppose my lack of car knowledge is showing

This is what it says on the transfer paper from 89, so I'm just relaying what I'm seeing.

 

What is the odometer reading according to the odometer?
How about some interior and engine compartment pictures.

 

My guess on that odometer statement is probably 76,314 and 0 tenths miles.
A completely restored, original motor feulie is worth roughly 100 grand, give or take 20 grand.
Too many question marks on its current value. More pics of the motor, Fuel unit, chassis, VIN Tag could help with a ballpark estimate.

 

I would do a little research
and find out if this car has a real racing history. It
could add a lot of value to the car.
More pic's please.

 

There are just too many unknowns to give you a good answer. You need to authenticate the veracity of the party who is telling you that the engine is original. Does it have the FI unit, and is it original to the car? You will need to inventory the parts in boxes. There could be some valuable pieces, but what else might be missing to complete the car? As I said, a lot of variables to contend with.

The racing provenance may add very little unless it has some significant history; otherwise, it is simply a '57 that was "tracked" and that adds little value, IMHO. More pics would be appreciated.

 

My opinion only. Go to Bring A Trailer, Mecum Auction, Barrett Jackson, etc. and view recent sales prices for 1957 Corvettes especially with a focus on fuel injected cars. This will give you a perspective of what the value is of a restored car. Then try to determine how much it would cost to complete your car. Paint prices are all over the place on condition depending of the body, geographic location, and quality of the job, but $20k or more is realistic. Engine rebuilds $5k, transmissions $1.5k, interior $2.5k, gauges $2k, etc.

if you can prove that the car was originally a fuel injected car with documented race history the value can go up. A thought would be paying for a professional assessment, by a Corvette expert to determine exactly what you have and its current value. I’ve heard these run around $600.

My estimate for as is condition is $35 - $45k.

good luck

 

At least you inherited it, so you're not likely to have to put more into it than it's worth, even if you pay someone to assemble it for you. Anyone who buys it from you for 40-50K better be able to do their own work.

If you really like it, find someone who knows what they're doing and will be motivated enough to complete the job and have it assembled. It's going to be a beauty, and if you appreciate old cars you'll have a great time with it.

If you got the fuel injection with it, use it. But definitely have it professionally overhauled first. There's no better choice for that job than Jim Lockwood here on this forum. It will be money well spent. '57 fuel injection works great... IF it's been professionally overhauled, you follow the pro's recommendation for fuel use, and don't tinker with it yourself unless you really know what you're doing.

It will definitely sell if you decide to go that route. Good luck!

 

@triplewelly

Am I correct in that I interpret your post as.........."I would like to restore this car myself only if it is economically feasible to do so".........and nothing more ?

Here's my not too popular take born out with evidence, not emotion. I am a C3 guy, so, FWIW..........as we get this kind of post on a weekly basis it seems.

You received this car thru an inheritance (sorry it had to be that way) ergo, you have direct evidence of what has happened to the C1 market. It is dying off......literally. 15 years ago a C1 was worth double of what it is today. And the C2 market will start to enter this actuarial curve at the end of this decade.

Now, the few examples of nice completed cars from that era listed here on CF per say are in the $50-75K asking range. Ignore the emotionally priced "unicorns" out there as they will still be here listed for sale years later. There are other online sources, and you need to check them as well, but, if you utilize an "appraiser" who charges $$$ for their opinion, what you must always do is ask the appraiser where you go to pick up the cheque which reflects the value stated in their opinion. It's always good to see the expression on their faces, for no 2 or 5 examples of 70 year old cars are the same nor equal, and, there is no line of people with their chequebooks out standing behind the guy willing to pay the price he wrote down.

The for sale section here on CF has an 9-1 ratio of WTB (want to buy) posts for C2 cars versus C1 cars. That alone should tell you something.

If you have a few thousand hours and a couple of years to spare in addition to tens of thousands of dollars and are prepared to expect a tough resale market and no financial gain, then go for it. These cars are restored from passion, not profit. Looks like a nice example to start with based on the limited info we have here. Good luck.

Oh yeah, see if you can drive one first.......heh.

 

My estimate 25k as it sits(basket case). 45 running driving sorted. Anyone you know that likes puzzles?