Value of 1978 Corvette base model
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Pro
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Value of 1978 Corvette base model
I am starting my restoration project on a 78 Corvette. It is the base model, automatic with 114,000 miles.
The car has the exterior painted in red. It has new carpet, but the seats need to be recovered.
The car runs and drives well.
I really do not trust the NADA, or other Collector Car Price guides for a 78 Corvette. They all seem high.
I am putting a parts budget / repair budget together for the car. I really do not want to have $20,000 into the car if it is only worth $12,000
Could you guys give me a price range in which these cars are selling for?
The car has the exterior painted in red. It has new carpet, but the seats need to be recovered.
The car runs and drives well.
I really do not trust the NADA, or other Collector Car Price guides for a 78 Corvette. They all seem high.
I am putting a parts budget / repair budget together for the car. I really do not want to have $20,000 into the car if it is only worth $12,000
Could you guys give me a price range in which these cars are selling for?
Team Owner
Joined: Jun 2000
Posts: 38,923
Likes: 1,482
From: Southbound
Cruise-In II Veteran
Prices will vary across the country depending on local availability. Just the same, originalty, condition, and options will figure in a retail price. Check the C3 For Sale section on ebay for ballpark prices.
Instructor
Joined: Sep 2006
Posts: 211
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From: Searcy Arkansas
I have a 78 S/A... I bought the car in California for $3,000 & to date, including the initial cost of the car, I have a little over $10,000 into it... With the exception of the final paint I did all the work myself... Makes a huge difference in the cost...
Before...
After...
Before...
After...
Drifting
Joined: Jan 2008
Posts: 1,962
Likes: 5
From: Schererville IN
I am starting my restoration project on a 78 Corvette. It is the base model, automatic with 114,000 miles.
The car has the exterior painted in red. It has new carpet, but the seats need to be recovered.
The car runs and drives well.
I really do not trust the NADA, or other Collector Car Price guides for a 78 Corvette. They all seem high.
I am putting a parts budget / repair budget together for the car. I really do not want to have $20,000 into the car if it is only worth $12,000
Could you guys give me a price range in which these cars are selling for?
The car has the exterior painted in red. It has new carpet, but the seats need to be recovered.
The car runs and drives well.
I really do not trust the NADA, or other Collector Car Price guides for a 78 Corvette. They all seem high.
I am putting a parts budget / repair budget together for the car. I really do not want to have $20,000 into the car if it is only worth $12,000
Could you guys give me a price range in which these cars are selling for?
Watch Ebay for realistic selling prices. Prices will vary by region.
Realistically, your talking about $12K for a base model 78 with 100K plus miles in real nice restored condition. So don't go spending $20K. If your planning on restoring and making money or even breaking even, forget about it! Can't restore these and make money. You have to restore for the love of it. If you want a nice one that has been restored, then buy it that way. If you want to make money off a C3, find one that someone put there heart and soul into that has come upon hard times and take full advantage of them!
CF JASOC Member
Joined: Feb 2006
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From: Downtown Annapolis, MD. The Future is where we all have to live. Let's not screw it up.
St. Jude Donor '08-'09-'10-'11
Administrator
Joined: Jul 2000
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From: About 1100 miles from where I call home.
Watch Ebay for realistic selling prices. Prices will vary by region.
Realistically, your talking about $12K for a base model 78 with 100K plus miles in real nice restored condition. So don't go spending $20K. If your planning on restoring and making money or even breaking even, forget about it! Can't restore these and make money. You have to restore for the love of it. If you want a nice one that has been restored, then buy it that way. If you want to make money off a C3, find one that someone put there heart and soul into that has come upon hard times and take full advantage of them!
Realistically, your talking about $12K for a base model 78 with 100K plus miles in real nice restored condition. So don't go spending $20K. If your planning on restoring and making money or even breaking even, forget about it! Can't restore these and make money. You have to restore for the love of it. If you want a nice one that has been restored, then buy it that way. If you want to make money off a C3, find one that someone put there heart and soul into that has come upon hard times and take full advantage of them!
Also, don't forget the value of the car continues downward with any and all modifications you put on the car. Keep that in mind when restoring.
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Melting Slicks
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From: North Bellmore Ny
St. Jude Donor '09
Racer
Joined: Oct 2005
Posts: 328
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From: PASADENA MARYLAND
I have a 78 S/A... I bought the car in California for $3,000 & to date, including the initial cost of the car, I have a little over $10,000 into it... With the exception of the final paint I did all the work myself... Makes a huge difference in the cost...
Before...
After...
Before...
After...
I what to install those same pipes on the side of my '75 coup ....
Where did you get them ?...they look great ...
Drifting
Joined: Jan 2008
Posts: 1,962
Likes: 5
From: Schererville IN
This is a common statement made by a lot of "traditional" Vette people, but I'm not sure I agree with that statement on all Vettes. Maybe on C1, C2, and early steel bumper C3 all due to their collectability, but from what I've seen mid 70's to new C6 are generally worth more if they are modded or updated. Unless they're a collectible edition like a ZR or something. If you take say a stock 79 with 100K original miles, factory paint, and decent but aged interior, tired low hp engine and put it along side another 79 with crate engine, new paint, updated interior, Hookers, etc with same miles-that modded Vette will sell faster and for more money than the stock 79. Possibly even on some of the collectible cars. I see a trend in modded old cars right now that does push up the value of modded cars over stock. Even on some of the old collectibles. So in my opinion, unless it's a museum piece, mods don't always hurt.
Instructor
Joined: Sep 2006
Posts: 211
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From: Searcy Arkansas
Thanks! I got these ones from someone on ebay... I found out later that I could have actually saved a few bucks buying them from Jegs....
Team Owner
Joined: Jun 2000
Posts: 38,923
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From: Southbound
Cruise-In II Veteran
Le Mans Master
Joined: Apr 2007
Posts: 7,353
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From: Graceland in a Not Correctly Restored Stingray
Agree with Mike. In any event, its common to be upside down after restoring or modding most any late C3, but then finances aren't exactly the driving consideration for enthusiasts; rather their heart's desires.
