Newbie Question: Help with current value
Thread Starter
Instructor
Joined: Dec 2009
Posts: 162
Likes: 3
From: Denver CO
Newbie Question: Help with current value
I've finally found what I hope to be the vette for me and am looking to make an offer but could use some help. Here's the info:
1971
454(365)
4 speed
numbers matching
yellow paint
black vinyl interior
coupe
118k miles
The car is very original, in driver shape inside and paint needs to be redone. The owner claims the engine was rebuilt by the previous owner about 6k miles ago, but was not able to find the documentation. After driving it it still pulls strong so there may be some truth but who knows until a full PPI is done.
I’m hoping this will be an investment that I can paint (approx. $10k) and maintain or increase in value through the years. Any and all input is very much appreciated. Thanks!
1971
454(365)
4 speed
numbers matching
yellow paint
black vinyl interior
coupe
118k miles
The car is very original, in driver shape inside and paint needs to be redone. The owner claims the engine was rebuilt by the previous owner about 6k miles ago, but was not able to find the documentation. After driving it it still pulls strong so there may be some truth but who knows until a full PPI is done.
I’m hoping this will be an investment that I can paint (approx. $10k) and maintain or increase in value through the years. Any and all input is very much appreciated. Thanks!
Melting Slicks
Joined: May 2009
Posts: 3,079
Likes: 314
2024 C3 of the Year Finalist - Unmodified
Paint and interior should be the last things you do to it. Hopefully the engine was properly rebuilt. Restoring and replacing all the other 39 year old parts, especially those that affect safety and drivability, are what is going to cost the big bucks.
Drifting
Joined: Mar 2009
Posts: 1,344
Likes: 98
From: New Jersey
St. Jude Donor '09-'10-'11-'12-'13-'14-'15
I guess you can use this for comparison.....its from the Mecum auction results.
Kansas City 4/2010
1971 Chevrolet Corvette
454 CI, 3-Speed Automatic
High Bid: $13,250
Indy 5/2010
1971 Chevrolet Corvette
454/365 HP, Automatic
High Bid: $28,000
St. Charles 6/2010
1971 Chevrolet Corvette
454/365 HP, 4-Speed
Sold Price: $24,000
I hope that helps a little.....
PS.....Clicking on the pictures will take you to the Mecum website for more info.
Steve
Kansas City 4/2010
1971 Chevrolet Corvette
454 CI, 3-Speed Automatic
High Bid: $13,250
Indy 5/2010
1971 Chevrolet Corvette
454/365 HP, Automatic
High Bid: $28,000
St. Charles 6/2010
1971 Chevrolet Corvette
454/365 HP, 4-Speed
Sold Price: $24,000
I hope that helps a little.....
PS.....Clicking on the pictures will take you to the Mecum website for more info.
Steve
Burning Brakes
Joined: May 2008
Posts: 860
Likes: 0
From: Stratford Ontario
It looks pretty resonable by the pics. But I would go through and see if anything needs to be replaced. That can add alot to the costs.Brakes were bad for leaking. You need to see if the birdcage is in good condition, have him remove the inner header cushion so You can see top of windshield part, then kick panels for bottom part. If either are rotted then I would stay away.
Team Owner
Joined: Jun 2000
Posts: 38,923
Likes: 1,481
From: Southbound
Cruise-In II Veteran
Race Director
Joined: Sep 1999
Posts: 11,360
Likes: 382
From: Plano TX
My tip is if you're looking for an investment: buy gold.
Cars are rarely investments. You buy it because you love it.
That said, a value range for the 71 is somewhere in the $15K-$20k range. Could go a little higher if all numbers TRULY match, lots of documentation, lots of original (restorable) parts etc.
Cars are rarely investments. You buy it because you love it.
That said, a value range for the 71 is somewhere in the $15K-$20k range. Could go a little higher if all numbers TRULY match, lots of documentation, lots of original (restorable) parts etc.
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Racer
Joined: Jun 2010
Posts: 355
Likes: 202
From: TEXAS
My tip is if you're looking for an investment: buy gold.
Cars are rarely investments. You buy it because you love it.
That said, a value range for the 71 is somewhere in the $15K-$20k range. Could go a little higher if all numbers TRULY match, lots of documentation, lots of original (restorable) parts etc.
Cars are rarely investments. You buy it because you love it.
That said, a value range for the 71 is somewhere in the $15K-$20k range. Could go a little higher if all numbers TRULY match, lots of documentation, lots of original (restorable) parts etc.
Melting Slicks
Joined: Apr 2007
Posts: 3,189
Likes: 111
From: Tolland CT
I guess you can use this for comparison.....its from the Mecum auction results.
Kansas City 4/2010
1971 Chevrolet Corvette
454 CI, 3-Speed Automatic
High Bid: $13,250
Indy 5/2010
1971 Chevrolet Corvette
454/365 HP, Automatic
High Bid: $28,000
St. Charles 6/2010
1971 Chevrolet Corvette
454/365 HP, 4-Speed
Sold Price: $24,000
I hope that helps a little.....
PS.....Clicking on the pictures will take you to the Mecum website for more info.
Steve
Kansas City 4/2010
1971 Chevrolet Corvette
454 CI, 3-Speed Automatic
High Bid: $13,250
Indy 5/2010
1971 Chevrolet Corvette
454/365 HP, Automatic
High Bid: $28,000
St. Charles 6/2010
1971 Chevrolet Corvette
454/365 HP, 4-Speed
Sold Price: $24,000
I hope that helps a little.....
PS.....Clicking on the pictures will take you to the Mecum website for more info.
Steve
At a glance, the others appear to be priced where I've seen others.
This one has high mileage, no mention of any work done on suspension, brakes, or other. Not restored. Needs paint and interior work?
Team Owner
Joined: Jul 2008
Posts: 23,419
Likes: 22
From: In limbo
St. Jude Donor '13-'15, '17 thru '22
I'd say $15.5K is a fair price for that car if the condition checks out. Paint is expensive, interior is a couple grand. A near perfect one should pull close to $30K, so think of it this way: Buy for $15K, spend $8-10K on paint and $2-3K on interior and you might almost keep your head above water.
The following is my opinion that many people on this board disagree with: I don't like to see Hurst shifters on Corvettes. Lots of people will spin you a yarn about the Muncie transmission and how "sloppy" it is and on and on, but I have owned two and they have both operated smoothly and reliably, the first one for approx. 30,000 miles that I owned the car. I think of the Hurst shifter as an indication that this car has, or has had, transmission problems. If the trans is bad, $15.5K is too much.
The following is my opinion that many people on this board disagree with: I don't like to see Hurst shifters on Corvettes. Lots of people will spin you a yarn about the Muncie transmission and how "sloppy" it is and on and on, but I have owned two and they have both operated smoothly and reliably, the first one for approx. 30,000 miles that I owned the car. I think of the Hurst shifter as an indication that this car has, or has had, transmission problems. If the trans is bad, $15.5K is too much.
Thread Starter
Instructor
Joined: Dec 2009
Posts: 162
Likes: 3
From: Denver CO
Great input guys.
I totally agree, it's not really meant to be an investment... more like an investment in the smiles it puts on your face. Holding its value is more like it.
I'm a little shocked, yet pleased, at how values have fallen on such clean vettes. It's good to be a buyer right now. Looks like I need to do more research and search markets other than craigslist.
I totally agree, it's not really meant to be an investment... more like an investment in the smiles it puts on your face. Holding its value is more like it.
I'm a little shocked, yet pleased, at how values have fallen on such clean vettes. It's good to be a buyer right now. Looks like I need to do more research and search markets other than craigslist.
Race Director
Joined: May 2007
Posts: 11,334
Likes: 136
From: Out of Site...Out of Mind. Corvette: anything else is just transportation.
St. Jude Donor '09 thru '20
Great input guys.
I totally agree, it's not really meant to be an investment... more like an investment in the smiles it puts on your face. Holding its value is more like it.
I'm a little shocked, yet pleased, at how values have fallen on such clean vettes. It's good to be a buyer right now. Looks like I need to do more research and search markets other than craigslist.
I totally agree, it's not really meant to be an investment... more like an investment in the smiles it puts on your face. Holding its value is more like it.
I'm a little shocked, yet pleased, at how values have fallen on such clean vettes. It's good to be a buyer right now. Looks like I need to do more research and search markets other than craigslist.
Thread Starter
Instructor
Joined: Dec 2009
Posts: 162
Likes: 3
From: Denver CO
Moving on to a restored 68. Checking it out this weekend and hoping the seller is flexible with the price due to his current financial situation. Here's the add:
1968 Corvette Convertible - $20000
MUST SELL, lost my job 6 months ago. My loss your gain.. This is a 300 HP 327, 4spd car. Many new parts with body off resto about 10 years ago. Great condition, very few flaws, convertible top needs to be replaced...hardtop included. This is a need to sell, not want to sell. More pictures available.
***Make me an offer I can't refuse.***
Melting Slicks
Joined: Apr 2007
Posts: 3,189
Likes: 111
From: Tolland CT
Good advice, which is exactly what I did. I offered a price that I felt was fair and he repectfuly declined.
Moving on to a restored 68. Checking it out this weekend and hoping the seller is flexible with the price due to his current financial situation. Here's the add:
1968 Corvette Convertible - $20000
MUST SELL, lost my job 6 months ago. My loss your gain.. This is a 300 HP 327, 4spd car. Many new parts with body off resto about 10 years ago. Great condition, very few flaws, convertible top needs to be replaced...hardtop included. This is a need to sell, not want to sell. More pictures available.
***Make me an offer I can't refuse.***
Moving on to a restored 68. Checking it out this weekend and hoping the seller is flexible with the price due to his current financial situation. Here's the add:
1968 Corvette Convertible - $20000
MUST SELL, lost my job 6 months ago. My loss your gain.. This is a 300 HP 327, 4spd car. Many new parts with body off resto about 10 years ago. Great condition, very few flaws, convertible top needs to be replaced...hardtop included. This is a need to sell, not want to sell. More pictures available.
***Make me an offer I can't refuse.***
Thread Starter
Instructor
Joined: Dec 2009
Posts: 162
Likes: 3
From: Denver CO
Burning Brakes
Joined: Nov 2002
Posts: 1,245
Likes: 21
From: Abingdon MD
Newbie Tebok,
1. Figure what your budget is for the car PLUS what it will take to get the car where you want it. I see way too many folks who buy a classic Vette (ask me how I know), expecting to turn the key and drive!
Read about the lady and her husband on CF who bought the blue 73, then spent a significant part of the summer struggling w interior work that they felt was not up to par, plus installing a radiator. She remarked that her early classic Corvette experience was not the hours of care-free cruising that she had expected.
2. Find someone knowledgeable re: C3's who will consult with you and inspect potential Vettes for you for a reasonable fee. Perhaps a local CF person, or John Elway?
There are just too many potential promblem areas on these +/- 40 yr. old cars that can cost you significant Benjamins or run up your VISA card before you are happy and can reliably drive the car.
DON'T be that guy who buys a C3 and THEN finds out he has rust issues, wiring harnesses are a mess, etc.
Rickman
1. Figure what your budget is for the car PLUS what it will take to get the car where you want it. I see way too many folks who buy a classic Vette (ask me how I know), expecting to turn the key and drive!
Read about the lady and her husband on CF who bought the blue 73, then spent a significant part of the summer struggling w interior work that they felt was not up to par, plus installing a radiator. She remarked that her early classic Corvette experience was not the hours of care-free cruising that she had expected.
2. Find someone knowledgeable re: C3's who will consult with you and inspect potential Vettes for you for a reasonable fee. Perhaps a local CF person, or John Elway?
There are just too many potential promblem areas on these +/- 40 yr. old cars that can cost you significant Benjamins or run up your VISA card before you are happy and can reliably drive the car.DON'T be that guy who buys a C3 and THEN finds out he has rust issues, wiring harnesses are a mess, etc.
Rickman
Thread Starter
Instructor
Joined: Dec 2009
Posts: 162
Likes: 3
From: Denver CO
Newbie Tebok,
1. Figure what your budget is for the car PLUS what it will take to get the car where you want it. I see way too many folks who buy a classic Vette (ask me how I know), expecting to turn the key and drive!
Read about the lady and her husband on CF who bought the blue 73, then spent a significant part of the summer struggling w interior work that they felt was not up to par, plus installing a radiator. She remarked that her early classic Corvette experience was not the hours of care-free cruising that she had expected.
2. Find someone knowledgeable re: C3's who will consult with you and inspect potential Vettes for you for a reasonable fee. Perhaps a local CF person, or John Elway? There are just too many potential promblem areas on these +/- 40 yr. old cars that can cost you significant Benjamins or run up your VISA card before you are happy and can reliably drive the car.
DON'T be that guy who buys a C3 and THEN finds out he has rust issues, wiring harnesses are a mess, etc.
Rickman
1. Figure what your budget is for the car PLUS what it will take to get the car where you want it. I see way too many folks who buy a classic Vette (ask me how I know), expecting to turn the key and drive!
Read about the lady and her husband on CF who bought the blue 73, then spent a significant part of the summer struggling w interior work that they felt was not up to par, plus installing a radiator. She remarked that her early classic Corvette experience was not the hours of care-free cruising that she had expected.
2. Find someone knowledgeable re: C3's who will consult with you and inspect potential Vettes for you for a reasonable fee. Perhaps a local CF person, or John Elway?
There are just too many potential promblem areas on these +/- 40 yr. old cars that can cost you significant Benjamins or run up your VISA card before you are happy and can reliably drive the car.DON'T be that guy who buys a C3 and THEN finds out he has rust issues, wiring harnesses are a mess, etc.
Rickman
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.