I have a 1969 427 (L36 390hp) Corvette convertible that I want to have restored (Modified/Stock).

I know that a stock restoration will probably be worth more at time of resale; but I would like an estimate of how much ($$$) a modified restoration would hurt me.

My preferrence would be to do the following:

A basically stock looking car with updated equipment and performance:

Body Off
Powder Coat frame
All new Suspension (coil-overs)
Quick ratio steering box
EFI 383 cid (400+ hp BUT VERY WELL MANNERED) SBC engine or L68 (oval port Tri-Power) with Aluminum heads and Hydr. Roller cam
5 speed OD
Electric flip-up Head Lights
18 or 19 Rims
Paint: Electron Blue or Silver or Sonic Blue and clear coat
Interior: C5 2 tone seats (black/silver)

Assuming the same quality of work and the stock restoration would be worth at time of resale (2011):

$40,000 what would the Modified version above be worth?
$50,000 what would the Modified version above be worth?
$60,000 what would the Modified version above be worth?
$70,000 what would the Modified version above be worth?
$80,000 what would the Modified version above be worth?

Tell me what you think.

 

You'll spend alot more money modifying your car and its questionable if you'll see any of that money back.

 

To be more specific, you will spend money while directly hurting the car's value.

Why not sell the stock BB roadster to someone who can appreciate it and not destroy it? You can get plenty of money to go out and buy a perfect donor car to completely modify into anything you like without messing with a valuable car.

 

with my 1980, i dont feel bad in the least making it into what i want it to be (not that a stock 1980 will EVER be worth anything). I have allready come to grips with the fact that i will not see any of the mony i put into it back, but i figure that is part of what you pay when you turn your car into what you want it to be. I say i is your car, so do what you want, but know that will will loose much of the value, and it will be impossable or impractacal to convert it back at a later date. Good luck with what ever you choose to do

 

Here's where I am coming from: I have had the car for some time now and it is in pieces. I doubt that I could sell it for much and replace it with one that would be ok to destroy as you say.

I love all Corvettes and other cool cars; and I am not a purist. I love dogs also even if there are mutts.

I like the looks of my 69; but want to be able to enjoy driving it. I consider this a hobby and not an investment; but I would like to make an intelligent decision by knowing what it would cost me to have it my way. In the end I may end up doing it your way. Either way, it will still be a Corvette and I hope you see the value in that.

I do understand and appreciate your point. If I were starting from scratch I would look for a SB convertible that somebody had already destroyed, maybe one with fender flares on it or fixed headlights, rather than an Original Motor BB.

 

I am in the same boat I have the same exact car but my 427 was missing and the muncie was missing too.

I think if you plan on keeping the car the upgrades should not matter as it will be the car you want and will be happy with driving.

Of course you have the (numbers) guys who dont want to see a car messed with but I think if its done right and tastefully you will still have a solid investment if you decide to sell it.

There are other guys out there like you that will want the same thing, a original looking car with todays upgrades

Besides no matter what you add to the car you still have a 69 vette and they only made so many of them and every year there will be more guys that cant afford a c-2 and will look at the c-3's and your investment will grow

 

I think I would find some junk 69 and do the mods you are talking about.
Then you would be able to get out what you put in - the core car may run you 10-15 K.

as for restoration - that is a BIG wide window.

I'm finishing a 72' BB #'s match car - done for Top Flight NCRS. Spent somewhere north of 60K on the it so far (paint/body/NOS parts/refinishing existing parts/cost of the car) - and I'm doing LOTS of the work.
I think the cost will really be determined by the exact type of resto you are going to do and how much time/effort you are going to put in yourself.


Me personally - I would not cut up the 69 427 car - it will always be worth a BUNCH and will surely appreciate each year.


Good luck and have fun (and lots of patience too).

Bill

 

Do it the way you want to do it. If you are looking for an investment it is not a good idea to modify. If you are looking for fun modify it to your liking. I restored my 72 LT1 back to original a bunch of years ago. I became tired of it very quickly. I wanted something faster, handles better and to me looks better. Ihave spent a lot of time and money getiing it to the way I want it. The car is a blast to drive now and I have had more fun with it recently then ever. Yes it probably went down a little in value but I did not do it for the money.

 

i agree with gordon,do with it what YOU want with it.It can always be changed back if you have too.

 

Wasting your money on all that stuff, just to resale at a lower price than you have in it,guarentee this!!!!!!

 

have some fun

 

if your wanting to flip it for a profit go stock all the way!
If its your toy and you plan on keeping it. do what ever you want to it, it is YOURS after all!

 

I have been doing some research and giving this some thought.

It looks like the asking price for a 69 L36 BB 390hp in cherry condition and #s Match is about $55k and a NOM (454cid) is $40k

I believe that a Frame-Off cherry Resto-Mod (modified but Stock looking) would be worth $47k. Although I realize, to some of you it would be worthless; and I would narrow my resale market. However, there is a growing trend towards "RestoMods" for Musle Cars and Classics for touring purposes (Hot Rod Tour, etc..). If you look at the overall Musle Car market (GTOs, Camaros, Chevells, Mustangs, etc..) a highly driveable Corvette should do well in this market.

So, basically I would give up about 15% of the market price.

From a Restoration standpoint, I believe that doing a correct job would be more costly, especially when you consider your time. If I were to do any of the work myself, it would take 100s of hours just doing research and finding the correct parts or materials.

The end result of "Stock & #s Match" restoration: worth 15% more, may appreceiate better, easier to sell, less fun to drive, less reliable, don't like it as much, more of an investment.

The end result of "Mild Modified" restoration: personalized, enjoyable to drive, more reliable, less hassel and/or cost to build, less appreciation in value, 15% less value, harder to sell.

All things considered, I believe it is a "PUSH" 50%/50% and I really have to determine what my priorities are for the car and my money.

If I do a modified Restore, I will go with the 427 Tri-Power, Aluminum Heads, Hydr Roller cam, 18" Chrome Rally wheels, Metallic Silver, Electric Flip-up lights, 5 speed OD and keep the original parts, not changing the appearance too much from Stock.

 

To do that to a BB roadster would be a real shame when there are so many other vettes out there that have no real value and that would benefit from the type of restoration your planning.

 

I know where he got those numbers
Don't kid yourself, anything from stock you do to a vette will cost you big time, there not Chevelles and Camaros!
But do what ever you want and you will live and learn and hope you can recover from bankrupsy without too bad of a credit record or jail time.

 

1st let me start by saying you're asking about building a car that I would want. Then let me say it's your car and if you REALLY WANT a resto mod that's what you should build. The Corvette hobby is just that a hobby - that's suppose to be fun I might add - and shouldn't be considered an investment. While traditionally your money can be safe with "stock" cars history says there are better places to INVEST your money. Where I think you may be making a mistake here is in your math. Muscle cars seem to be a better place to retain your build cost on a resto mod rather than a Corvette. With a Corvette those rules do not apply. The other thing you have to keep in mind is that there are several very high dollar pro-touring cars (200K plus) that have been built. These people do not get their money back (or anywhere near it for that matter) when they go to sell. Case in point Bob Johnson's all out P/T monster orange Hemi 'Cuda - build cost near a million - B/J auction 550K. There is also a glut of these high dollar cars that have been built over the last few years. So while you see people paying high dollars for these resto mods they are not paying anywhere near what they cost to build. The bottom line I don't think you can plan on being anywhere near you 15% target. Build what you're going to be happy with not what our opinions lead you to believe you'll get the best return on your dollar. Have fun and enjoy the ride. Good luck with what ever you decide.

 

If those numbers are not good; then find me some better ones. I am trying to be objective here; and have not made a decision either way.

However, I could do without the doom & gloom arguments. The truth almost always is somewhere in the middle.

If anything your argument, would lead me to go Modified and consider every $ of cost a total loss. This way I don't have to be constantly worried about my investment and can enjoy my hobby. Then if I do sell the car every $ I get becomes a profit. Just a different way of looking at it.

 

You make some very good points. With all this doom & gloom and the way the economy and the value of the $ are going, I am beginning to think I should just slap this car back together and sell it. Then go buy one that is completely done the way I like it and let the seller take a big loss; or I could go buy a C7 when they come out.

 

This reads like you're getting frustrated with the replys you're getting. Please keep in mind when you ask for opinions you are going to get just that. You can take what's here to maybe help you decide one way or another what YOU want to do. This is a very tough crowd at times especially when it comes to a subject like this. You have the NCRS guys - the Hotrod guys - and everything in between. You're going to read what you want to hear (hopefully at some point) and what you don't want to hear. Don't take it to heart for the most part it's not meant to be mean but people here have passion for their beliefs. It's a hobby have fun with it.

 

Do you really want a C7? Do you have other hobbies? Do they give you a return on your investment? You are probably very correct about buying a resto mod that's already done and letting the owner take the loss but will you be happy with that? If you can't live with someone else's interpertation of your "dream vette" will you be happy? If you buy someone else's car and make into whay you want will you wind up spending close to the same money in the long run and still not be entirely happy with what you have? See where I'm going here? Take your time and weigh things out before you decide. Make sure you wind up where you want to be.