I have been looking for a Vette for about a year now. Not new to collector cars, have three other muscle cars but new to Vettes.

Almost had a buy on a '67 Coupe but it fell through so I found a '68 that may work. Here are the specifics:

- 1968 Corvette Convertible
- Both tops
- 427/390 with #s matching block, heads, intake manifold and distributor. Casting codes and date codes all match. Block VIN on front pad contains "IL" code (427/390?)
- NOM carburator
- M21 4 spd believed to be orginal
- Power steering
- Car was born yellow but is now red
- Interior is beat up, will need to be totally replaced
- Car has never been restored, only painted
- Car was last titled in Washington State with most of its life in California
- Completely rust free
- 65,000 miles
- Car runs well now
- No documentation now, has a new gas tank, no tank sticker, bill of sale or POP
- Car is for sale at $15,000 but could probably land it at $10K.

What it needs:
- New paint (back to safari yellow) $10K
- Remove body from frame and powder coat frame (maybe not needed) $3K
- New interior package including leather seat covers, carpet, console, gauges, dash pad, radio, steering wheel, etc. $5K installed
- New bumpers, valve covers and air cleaner cover. $2K installed
- Freshen up the suspension and brakes (bushings, pads, etc.) $1K

All work above done by best friend and rod shop owner at cost. Total: $21,000-$23,000 plus car purchase = $31,000-$33,000.

Question, what will the car be worth when complete? I am thinking $35-$40K?
Worth doing or buy a restored one? Dont want to be underside down.

Probably 6 months to complete.

Thoughts?

 

Is the paint bad? Why repaint unless you need to or are restoring for judging or you hate the color?


Interior. Why the gauges? Buy the seats at a big show and the vendor will often do the seats for you. Carpet, too. You only have about $2000 in parts in the interior, so why $3000 to your buddy to install?

Why go to the trouble of lifting the body and powder coating the frame if it is rust free and running?

Sounds like you are trying to buy low, sell high while paying someone else to do the work. That is very 2006, but in 2012, you don't have that luxury in the market.

 

Thanks for the comments. The paint is really in need of a re-spray, dull and chipped in lots of areas, probably a 20-25 year old paint job. I would like to bring it back to orginal color.

As for the interior, you are correct, I was guessing at the price but there is a good chance the gauges are workable and the seats and carpet could be had for far less than $3K.

Completely agree on the frame off comment. This is an expense that can be spared for now. I just wanted to protect it before rust ever becomes an issue.

So what do you think this car will bring in today's market once painted and refreshed interior? $25K?

 

im no expert but i think your vette will be worth way more than 25k once its done they only
made around 7000 of your motor plus a big block more desirable and sought after than the 327 i think ....just my 2 cents worth
Rod

 

As described, when you're done that car should be worth what you have into it. Original motor, 427/390, 4 speed, convertible with matching color codes is well into the 30's in restored condition. As long as your resto guy is good, you should go for it

 

The car when done should be (in today market) $25k-$35k.

If the car is rust free, I don't see how everything in the interior can need replacing. Nothing just needs to be freshened up?

You don't necessarily want new. Things like bumpers you want to get rechromed, the repop bumpers never fit as well as the originals.

$10k for a paint job should get you a show quality paint job. Why get a show paint job unless you are doing a full frame off, and creating a trailer queen show car?

If you can get an original 427 68 convertible, with both top, original M21, with no rust - I would say $15k is a good deal, and $10k is a steal. But you can get upside down with any car pretty easily, especially if you contract out all the work. It sounds like a good project car, with lots of potential, I would see if I could cut some of those resoration costs if I was you.