I own a restoration shop and can tell you that's not off the mark for a top notch restoration.
1970 Corvette Convertable
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Intermediate
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1970 Corvette Convertable
I am contemplating doing a frame off resto on my 70 convertable. Does anybody have an idea of a price range on what these are selling for, for a frame off restoration. The engine is a 350hp 4 spd.
Former Vendor
Joined: Oct 2007
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From: walpole ma
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Intermediate
Joined: Jan 2007
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Yes, baiscally I am trying to see what the car would be worth. I am trying to decide which route I want to go: frame on/frame off resto with how much I need to put into it vs what I can get out of it.
Melting Slicks
Joined: Jan 2003
Posts: 2,877
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From: Doha
St. Jude Donor '08
It really depends on who will do the job. In my point of view, I would consider any do-it-yourself restoration job is well worth what you are paying, because you are not only getting a good brand new car at the end, but also you gain A LOT of talent ,good experience, know hows, and best of all .. self confident.
Safety Car
Joined: Nov 2004
Posts: 4,359
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From: Mundelein Illinois
When I did my 81 I dumped about 45K into it. I did everything my self except body work and paint. If your doing it to make money, forget about it. If your doing it for the pleasure and experience and I want to drive a perfect old car anywhere without issues while money isn't a issue. Go for it!
For what I spent, I should of did a chrome bumper car. I guess my son wil end up with a nice 81 (4) speed car.
For what I spent, I should of did a chrome bumper car. I guess my son wil end up with a nice 81 (4) speed car.
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Melting Slicks
Joined: Mar 2002
Posts: 2,140
Likes: 7
From: Ohio
The parts and a paint job plus what you paid for your 70 vert is about what it will be worth. If you do all the labor for free you break even.
The labor you pay will all be above what the car is worth. If a shop works on it 1000 hours X their hourly rate that will all be over the top
of what you can sell it for. For a real high dollar car the gap gets closer.
The labor you pay will all be above what the car is worth. If a shop works on it 1000 hours X their hourly rate that will all be over the top
of what you can sell it for. For a real high dollar car the gap gets closer.
Burning Brakes
Joined: Jun 2004
Posts: 872
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From: Cortlandt Manor New York
If you want to get money out of it sell it as it sits. If you are going to pay someone for a restoration either frame on or frame off you will never get your money back out of it. You see the posts about paying $50K for a full restoration. That is about right. Would you pay $60K for a 70 small block convertible? If you would please say so because you will have a line around the block of possible cars.
If you want to spend some time doing it yourself and you enjoy that type of work it can be very rewarding and in the end you may be able to get your money out of it. That is of course figuring that the 2000 hours that you spent on it was gratis.
If you want to make money find another way to invest.
If you want to spend some time doing it yourself and you enjoy that type of work it can be very rewarding and in the end you may be able to get your money out of it. That is of course figuring that the 2000 hours that you spent on it was gratis.
If you want to make money find another way to invest.
Pro
Joined: Jul 2006
Posts: 505
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From: Buxton Maine
[QUOTE=HamadUP;It really depends on who will do the job. In my point of view, I would consider any do-it-yourself restoration job is well worth what you are paying, because you are not only getting a good brand new car at the end, but also you gain A LOT of talent ,good experience, know hows, and best of all .. self confident.[/QUOTE]
If you want to get out of it, then now is the time. Take their advice, These guys are leading you in the right direction, Should one adopt one of these cars, then the owner should be acutely aware that it is a serious commitment. If you like the car, then the bottom line should not be a very important part of your decision making. Sounds like you've got a good one but if you want the most out of it, then sell it soon.
If you want to get out of it, then now is the time. Take their advice, These guys are leading you in the right direction, Should one adopt one of these cars, then the owner should be acutely aware that it is a serious commitment. If you like the car, then the bottom line should not be a very important part of your decision making. Sounds like you've got a good one but if you want the most out of it, then sell it soon.
Safety Car
Joined: Aug 2005
Posts: 3,654
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From: Chandler Arizona
St. Jude Donor '08
I am doing my frame-off myself. Like everyone here, once you start taking things apart it's REALLY hard to not make modifications and replace all the little things you would never think of. Even just in parts all of those "while I'm at its" really add up. I have ~26K in my car - including the purchase price and it still needs paint and a lot of interior pieces. I could easily see where you could spend ~$50K if you are paying for labor.
I told my wife to shoot me if I ever threaten to sell mine once it's done
I told my wife to shoot me if I ever threaten to sell mine once it's done
Melting Slicks
Joined: Jul 2007
Posts: 3,352
Likes: 1
From: Westminster Maryland
Everyone that sees what I am doing to my 68 vert says "that is a labor of Love" .. It has to be that for you, too. The above statements are right on the money- if you do it for the bottom line, give up now. If you do it 'cause you love the car and will hold on to it, then do it. One day it might be able to sell for more than you put in, but that is many years away. You could always sell it/trade plus cash for one that is done. You will save money that way.
Melting Slicks
Joined: Mar 2002
Posts: 2,140
Likes: 7
From: Ohio
You can pick up a nice frame off right here on the forum for in the 20-30K range and no way can you get one done for that money. People decide to move on to the next project or hobby and forget all the money they spent and the work they put into it.
Le Mans Master
Joined: Jul 2006
Posts: 8,117
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From: charlotte north carolina
i agree with lyle.
i'm rebuilding a 70 vert that i bought as a project. paid about $7000 for it. frame and birdcage were ok, but everything forward of the firewall was a mess or missing, and the body needed extensive work. after a year and a half and $27K it's "almost" ready to be sent out for paint. i've enjoyed working on the car, but i'll never get my money out of it. but, i didn't do it to make money, i did it for fun. call me sick!
if you want a car to drive, you can probably get one that's been well restored for less money, and you can drive it today. if you want to do it yourself so that you have a sense of accomplishment be sure you have an understanding wife, a big garage, lots of free time, and a high limit on your credit card!
jeff
i'm rebuilding a 70 vert that i bought as a project. paid about $7000 for it. frame and birdcage were ok, but everything forward of the firewall was a mess or missing, and the body needed extensive work. after a year and a half and $27K it's "almost" ready to be sent out for paint. i've enjoyed working on the car, but i'll never get my money out of it. but, i didn't do it to make money, i did it for fun. call me sick!
if you want a car to drive, you can probably get one that's been well restored for less money, and you can drive it today. if you want to do it yourself so that you have a sense of accomplishment be sure you have an understanding wife, a big garage, lots of free time, and a high limit on your credit card!
jeff
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Intermediate
Joined: Jan 2007
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Thanks for all the replys
I really appreciate the replys. I am torn on what to do. I would love to do the restoration myself looks like a great project to do. Cash will be tight need some good bonuses or possibly a second part time job to make this happen. I really would love to see the car done correctly and the frame off looks to be the way to go.
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From: Beertender - Next one is on the house. Cheers! No juicebox
Last edited by Bierbitzch; Oct 30, 2007 at 02:30 PM.