Newbie Question: Help with current value
Melting Slicks
Joined: Jul 2009
Posts: 2,091
Likes: 40
I think that is a reasonable price for a BBC Stingray and 4spd to boot. It looks mostly original.
AS an investment .....DON'T DO IT !!
BUY the CORVETTE because you LOVE IT , its the ONE THAT YOU WANT..... the same reason people buy those aweful old HD motorcycles , because YOU WANT IT or it can bring you happiness , or a dream, NOT AS A INVESTMENT. Dude....!! There are only a few super rare corvettes that are possible investments. Like a L-88 , ZL1 LS6 or old Fuelies . TODAY BUY A CORVETTE because its your DREAM CAR.
I LOVE C3 vettes......smell of gas , oil , lots of shaking , HP , rattling, good and HOT inside , YEA BABY that what I'm talking about like a WW11 SHerman tank , or old P-47 FIghter. They are not for the meek or mild or PEE WEE hermans of the world.
If your hand is limp .......then buy a Jaguar and go on down the road.
Nothing like a good sweaty ride in ones BB vette on a 95 degree day to bring out the manhood in ya.
GIVE ME C3 StingRays or GIVE ME DEATH!!!
AS an investment .....DON'T DO IT !!
BUY the CORVETTE because you LOVE IT , its the ONE THAT YOU WANT..... the same reason people buy those aweful old HD motorcycles , because YOU WANT IT or it can bring you happiness , or a dream, NOT AS A INVESTMENT. Dude....!! There are only a few super rare corvettes that are possible investments. Like a L-88 , ZL1 LS6 or old Fuelies . TODAY BUY A CORVETTE because its your DREAM CAR. I LOVE C3 vettes......smell of gas , oil , lots of shaking , HP , rattling, good and HOT inside , YEA BABY that what I'm talking about like a WW11 SHerman tank , or old P-47 FIghter. They are not for the meek or mild or PEE WEE hermans of the world.
If your hand is limp .......then buy a Jaguar and go on down the road.
Nothing like a good sweaty ride in ones BB vette on a 95 degree day to bring out the manhood in ya.
GIVE ME C3 StingRays or GIVE ME DEATH!!!
Last edited by LS4 PILOT; Sep 3, 2010 at 03:07 PM.
Administrator
Joined: Jul 2000
Posts: 53,976
Likes: 6,203
From: About 1100 miles from where I call home.
I totally agree. Great input.
1. I have nailed down my budget and understand the time and money that can be involved. I love working on classic chevy's (first car was a 73 Nova) so any work would be fun!
2. I have found a local shop. Once I find a car I'm in love with and agree on a price with the seller, I will finalize the sale after a full blown inspection. This particular shop charges $100 for a ppi and I'm going to spend the additional $100 to have it appraised. It's a small investment for some piece of mind.
1. I have nailed down my budget and understand the time and money that can be involved. I love working on classic chevy's (first car was a 73 Nova) so any work would be fun!
2. I have found a local shop. Once I find a car I'm in love with and agree on a price with the seller, I will finalize the sale after a full blown inspection. This particular shop charges $100 for a ppi and I'm going to spend the additional $100 to have it appraised. It's a small investment for some piece of mind.
Also, the same goes for the appraisal. The vast majority of Corvette appraisals are not worth the paper they are written on. If that shop is not familiar with specifics regarding the corvette market, you are wasting $100 no matter how much they know about putting on a muffler.
Burning Brakes
Joined: Jul 2010
Posts: 810
Likes: 48
From: West Chester Pennsylvania
I'd say that $15.5 is not unreasonable for a big block in what appears to be reasonably original condition. Was their air on car? Either way, $15 even knowing you need paint etc. would still be a home run.
Regarding investment... buy Apple stock. You'll be better off in the long run.
Buy the Vette as a car and drive it, enjoy it and when you don't, then sell it.
You'll get your money back and then move on.
Regarding investment... buy Apple stock. You'll be better off in the long run.
Buy the Vette as a car and drive it, enjoy it and when you don't, then sell it.
You'll get your money back and then move on.
Melting Slicks
Joined: May 2009
Posts: 3,079
Likes: 314
2024 C3 of the Year Finalist - Unmodified
I LOVE C3 vettes......smell of gas , oil , lots of shaking , HP , rattling, good and HOT inside , YEA BABY that what I'm talking about like a WW11 SHerman tank , or old P-47 FIghter. They are not for the meek or mild or PEE WEE hermans of the world.
Nothing like a good sweaty ride in ones BB vette on a 95 degree day to bring out the manhood in ya.
Nothing like a good sweaty ride in ones BB vette on a 95 degree day to bring out the manhood in ya.
Just got back from a long ride in the Miami traffic, heat and humidity. I still can't hear right and I'm completely soaked in sweat. Got the usual couple of honks and thumbs up and that big s**t eating grin is still on my face.
Administrator
Joined: Jul 2000
Posts: 53,976
Likes: 6,203
From: About 1100 miles from where I call home.
One more thing: lots of comments here regarding not buying a Corvette as an "investment." While I completely agree that Corvettes, particularly C3s should not be purchased SOLELY as an investment and they should be purchased for fun and passion, this concept can be taken too far.
Many hobbyists hide behind the "dont buy a car as an investment, if you love it, dont worry about the price, the market, the originality" stuff as an excuse to be quite lazy in their purchases. They dont know the market, they dont understand (or don't want to) the things that represent value, they spend $8000 too much on cars while pooh-poohing the idea of "worth".... and they are the first ones to complain when they get raked over the coals at resale time.
Dont just buy a Corvette for investments sake. That's what gold is for. BUT, if you choose to buy a Corvette because you want one, you are flat-out foolish to be so lazy as to give away far too much money than you have to.
Many hobbyists hide behind the "dont buy a car as an investment, if you love it, dont worry about the price, the market, the originality" stuff as an excuse to be quite lazy in their purchases. They dont know the market, they dont understand (or don't want to) the things that represent value, they spend $8000 too much on cars while pooh-poohing the idea of "worth".... and they are the first ones to complain when they get raked over the coals at resale time.
Dont just buy a Corvette for investments sake. That's what gold is for. BUT, if you choose to buy a Corvette because you want one, you are flat-out foolish to be so lazy as to give away far too much money than you have to.
Thread Starter
Instructor
Joined: Dec 2009
Posts: 162
Likes: 3
From: Denver CO
First off, thanks again for all the quality input.
I drove the black 1968 convertible yesterday. Man I love these cars!!! The rumble, the shake, the raw power.
It's pretty decent frame off restoration (VIN 194678S400934). The engine is a NOM 327/350 (38914678 back of block, V9979HT 334 front of block) from what I can tell with no clue on the mileage. and it's a British Green (983) car with tuxedo black now on it. The paint is a 7/10 and the interior is a 8/10. The engine bay is very clean. Suspension and brakes were all redone. Quite a few other new/redone goodies, but I think I hit the main points.
The buyer is asking $20k but I this $14.5k is a fair market value. Thoughts?
I drove the black 1968 convertible yesterday. Man I love these cars!!! The rumble, the shake, the raw power.
It's pretty decent frame off restoration (VIN 194678S400934). The engine is a NOM 327/350 (38914678 back of block, V9979HT 334 front of block) from what I can tell with no clue on the mileage. and it's a British Green (983) car with tuxedo black now on it. The paint is a 7/10 and the interior is a 8/10. The engine bay is very clean. Suspension and brakes were all redone. Quite a few other new/redone goodies, but I think I hit the main points.
The buyer is asking $20k but I this $14.5k is a fair market value. Thoughts?
Team Owner
Joined: Jul 2008
Posts: 23,419
Likes: 22
From: In limbo
St. Jude Donor '13-'15, '17 thru '22
Let's see, low optioned '68 two-top 4 spd wrong-color NOM small block vert for $14,500? I wouldn't, but it's not too far off. I'd pay $11K-12K if it's not rusty and the condition is good. Take a good look at the hard top, and put it on the car before you buy, they can be expensive to recondition.
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Team Owner
Joined: Jun 2000
Posts: 38,923
Likes: 1,481
From: Southbound
Cruise-In II Veteran
Melting Slicks
Joined: Apr 2007
Posts: 3,189
Likes: 111
From: Tolland CT
Thread Starter
Instructor
Joined: Dec 2009
Posts: 162
Likes: 3
From: Denver CO
Let's see, low optioned '68 two-top 4 spd wrong-color NOM small block vert for $14,500? I wouldn't, but it's not too far off. I'd pay $11K-12K if it's not rusty and the condition is good. Take a good look at the hard top, and put it on the car before you buy, they can be expensive to recondition.
No joke!?! Please tell me where I can find a frame off restored '68 Vert with 350hp for $11K-12K. I'd write the check today.
Melting Slicks
Joined: Apr 2007
Posts: 3,189
Likes: 111
From: Tolland CT
I think the objection is the NOM. That tends to drop the market value no matter how nice the rest of the car may be. Technically, if it's a NOM, can't really call it a restoration in the sense many on this forum would use that term. Maybe a resto-mod?
As to what it's worth.... I've never heard a good answer when it comes to non original motors. Some say 20% discount from matching #s, some say more.. If the car has had a frame off rebuild, quality work, it would seem it would be more valuable than another which hasn't.
I did hear of a 72 with a NOM going for about $15K at Carlisle this year.
Saw a big block 70 with a NOM sell for around $20K. Don't know any details as to what condition.. Maybe that would be a reference point?
Maybe do a search for 68 Corvette, NOM, see what prices are being asked, try to get a sense of whether they sell at these prices?
Team Owner
Joined: Jul 2008
Posts: 23,419
Likes: 22
From: In limbo
St. Jude Donor '13-'15, '17 thru '22
The description said nothing of "frame off" restoration, and it sure doesn't look like it got that treatment, or at least not very well. Lots of folks fix a half a dozen or so things and say they "restored" the car such that the term has become more or less meaningless to me. Even 10 year old frame-off restoration means relatively little to me since that is more than enough time for the condition to degrade dramatically if the car is not well cared for. What I see is a car that has been badly modified, is without its original engine, needs a new top, and has other clearly visible flaws in the couple of tiny pictures you posted. The description also says 300 Hp, not 350. Do you really think it would be hard to find low-optioned '68 nom base engine verts that have obvious needs (like a new top and a proper hood that fits) for $12,000? If so, then my opinion is that you should research the market further before spending any money on an old Corvette.
Do as you will.
Thread Starter
Instructor
Joined: Dec 2009
Posts: 162
Likes: 3
From: Denver CO
???? Not sure I understand where you're coming from..
I think the objection is the NOM. That tends to drop the market value no matter how nice the rest of the car may be. Technically, if it's a NOM, can't really call it a restoration in the sense many on this forum would use that term. Maybe a resto-mod?
As to what it's worth.... I've never heard a good answer when it comes to non original motors. Some say 20% discount from matching #s, some say more.. If the car has had a frame off rebuild, quality work, it would seem it would be more valuable than another which hasn't.
I did hear of a 72 with a NOM going for about $15K at Carlisle this year.
Saw a big block 70 with a NOM sell for around $20K. Don't know any details as to what condition.. Maybe that would be a reference point?
Maybe do a search for 68 Corvette, NOM, see what prices are being asked, try to get a sense of whether they sell at these prices?
I think the objection is the NOM. That tends to drop the market value no matter how nice the rest of the car may be. Technically, if it's a NOM, can't really call it a restoration in the sense many on this forum would use that term. Maybe a resto-mod?
As to what it's worth.... I've never heard a good answer when it comes to non original motors. Some say 20% discount from matching #s, some say more.. If the car has had a frame off rebuild, quality work, it would seem it would be more valuable than another which hasn't.
I did hear of a 72 with a NOM going for about $15K at Carlisle this year.
Saw a big block 70 with a NOM sell for around $20K. Don't know any details as to what condition.. Maybe that would be a reference point?
Maybe do a search for 68 Corvette, NOM, see what prices are being asked, try to get a sense of whether they sell at these prices?
Thread Starter
Instructor
Joined: Dec 2009
Posts: 162
Likes: 3
From: Denver CO
Excuse me? Read the post. I said I wouldn't spend that kind of money for that car, and then I gave a range that I would pay. You asked for opinions, and you got mine. If you don't like it, ignore it.
The description said nothing of "frame off" restoration, and it sure doesn't look like it got that treatment, or at least not very well. Lots of folks fix a half a dozen or so things and say they "restored" the car such that the term has become more or less meaningless to me. Even 10 year old frame-off restoration means relatively little to me since that is more than enough time for the condition to degrade dramatically if the car is not well cared for. What I see is a car that has been badly modified, is without its original engine, needs a new top, and has other clearly visible flaws in the couple of tiny pictures you posted. The description also says 300 Hp, not 350. Do you really think it would be hard to find low-optioned '68 nom base engine verts that have obvious needs (like a new top and a proper hood that fits) for $12,000? If so, then my opinion is that you should research the market further before spending any money on an old Corvette.
Do as you will.
The description said nothing of "frame off" restoration, and it sure doesn't look like it got that treatment, or at least not very well. Lots of folks fix a half a dozen or so things and say they "restored" the car such that the term has become more or less meaningless to me. Even 10 year old frame-off restoration means relatively little to me since that is more than enough time for the condition to degrade dramatically if the car is not well cared for. What I see is a car that has been badly modified, is without its original engine, needs a new top, and has other clearly visible flaws in the couple of tiny pictures you posted. The description also says 300 Hp, not 350. Do you really think it would be hard to find low-optioned '68 nom base engine verts that have obvious needs (like a new top and a proper hood that fits) for $12,000? If so, then my opinion is that you should research the market further before spending any money on an old Corvette.
Do as you will.
Sorry if I came off the wrong way PKguitar, because I hold a lot of value to your opinion. I probably would have overpaid for that particular car until I read your post. You make some great points so please keep em coming.
I have been doing my research, and prices can vary quite significantly. So often I find that there is a larger difference as to what a seller is asking and what the market will pay. This makes things challenging, and to be honest, quite frustrating at times. Maybe that's the point, it's not supposed to be easy to find your dream car.
Melting Slicks
Joined: Apr 2007
Posts: 3,189
Likes: 111
From: Tolland CT
Some NOMS still go for good money if they're in great shape and it's what the buyer was looking for. How much to discount for a NOM has been a tough question, no statistical data to refer to.
Yeah, asking price is often quite a bit higher than actual sale price, matching #s or not..
