The Resale Red LT-1!!!!!!!
07-02-2013, 01:57 PM
#41
My thoughts (since you asked):
With all the excellent high-performance replacement engine options available today, the appeal of having an LT-1 is its authenticity and originality (i.e. not just its performance). The type of buyer who wants originality in a rare engine option typically also wants originality in color and factory options. Changing to a more popular color will increase the market appeal, but IMO, at a lower price range. The "resale red" market includes buyers who do not care as much about originality, meaning they are not willing to pay an "originality premium". This is why I think the color change decreases the value. Of course this is dealing with generalities - all a seller needs is one buyer who agrees with his asking price.
The key question here is "what is this car worth to you?" Start with your end-point: what EXACTLY does your dream car look like? (Is originality one of your non-negotiables?) Then what would it take, dollar-wise, to get there? If you bought a project car, restored the mechanicals, interior, show-quality paint, etc. you could quickly get $40k-$50k into it having someone do the work for you. But to sell it for that money, you would need to find someone who wants exactly what you have. Personally, if I had $44k for a chrome bumper car, it would be a resto-mod with updated drive train (LS3), steering, suspension, brakes, etc. because my main enjoyment is driving as much as possible. When you know exactly what you want, the next question is how patient are you to get it? If you have to have it today, and this car is IT, spend $44K and have it. If you can wait several weeks/months/(years?), be patient and realize your dream for less.
With all the excellent high-performance replacement engine options available today, the appeal of having an LT-1 is its authenticity and originality (i.e. not just its performance). The type of buyer who wants originality in a rare engine option typically also wants originality in color and factory options. Changing to a more popular color will increase the market appeal, but IMO, at a lower price range. The "resale red" market includes buyers who do not care as much about originality, meaning they are not willing to pay an "originality premium". This is why I think the color change decreases the value. Of course this is dealing with generalities - all a seller needs is one buyer who agrees with his asking price.
The key question here is "what is this car worth to you?" Start with your end-point: what EXACTLY does your dream car look like? (Is originality one of your non-negotiables?) Then what would it take, dollar-wise, to get there? If you bought a project car, restored the mechanicals, interior, show-quality paint, etc. you could quickly get $40k-$50k into it having someone do the work for you. But to sell it for that money, you would need to find someone who wants exactly what you have. Personally, if I had $44k for a chrome bumper car, it would be a resto-mod with updated drive train (LS3), steering, suspension, brakes, etc. because my main enjoyment is driving as much as possible. When you know exactly what you want, the next question is how patient are you to get it? If you have to have it today, and this car is IT, spend $44K and have it. If you can wait several weeks/months/(years?), be patient and realize your dream for less.
Seems like excellent advice here.
07-02-2013, 03:29 PM
#42
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It's just my opinion, but a Corvette specialty dealer is not your best bet as far as getting the best value for your money. On the one hand, they're in the business and get an inside track. On the other hand, they're in the business and will probably drill you as hard as they can.
"All I want is a piece of corvette history!!!!! One that means a lot to me. I also want to pay for what I am getting for and not be scammed into getting something that is not as advertised."
So then do it already. This forum is full of knowledgeable folks who's opinions you should value. Purchasing a car from someone here (who doesn't have their head in the clouds) and has done their own restoration - probably with the help and advice of this same community is probably a better bet than buying a repro dripping with Armor-All from a shark salesman.
Don't take this the wrong way, but I doubt that you'll ever take the plunge.
"All I want is a piece of corvette history!!!!! One that means a lot to me. I also want to pay for what I am getting for and not be scammed into getting something that is not as advertised."
So then do it already. This forum is full of knowledgeable folks who's opinions you should value. Purchasing a car from someone here (who doesn't have their head in the clouds) and has done their own restoration - probably with the help and advice of this same community is probably a better bet than buying a repro dripping with Armor-All from a shark salesman.
Don't take this the wrong way, but I doubt that you'll ever take the plunge.
07-02-2013, 04:03 PM
#43
Pro
[QUOTE= Don't take this the wrong way, but I doubt that you'll ever take the plunge.[/QUOTE]
If you look on page 2 of this thread, you'll see that the OP already owned and sold a 2008 Z06, so apparently, he already "took the plunge."
If you look on page 2 of this thread, you'll see that the OP already owned and sold a 2008 Z06, so apparently, he already "took the plunge."
07-02-2013, 04:15 PM
#44
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Oh did you tell him about what I picked up a few months ago and had Intercity Lines deliver this baby to my house? Doggy not included in the purchase price though!!!!
http://forums.corvetteforum.com/c6-c...g-gone-it.html
07-02-2013, 04:23 PM
#45
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07-02-2013, 04:49 PM
#46
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Either way it is a perplexing comment.
You know that I certainly did have intent in taking the plunge on a 1971 LT-1. It was that yellow one I posted here earlier in the year. The one that was Top Flighted.
I had the bill of sale (agreed to the price) but on the eleventh hour the seller disclosed to me he made an "error." If the seller made no such error I would have had a 1971 LT1 sunflower yellow convertible in my garage. It is not my fault that a seller doesn't know how to give accurate information regarding a car they are trying to sell.
So I am a trigger puller here, IF I find the right car AND the right seller.
You know that I certainly did have intent in taking the plunge on a 1971 LT-1. It was that yellow one I posted here earlier in the year. The one that was Top Flighted.
I had the bill of sale (agreed to the price) but on the eleventh hour the seller disclosed to me he made an "error." If the seller made no such error I would have had a 1971 LT1 sunflower yellow convertible in my garage. It is not my fault that a seller doesn't know how to give accurate information regarding a car they are trying to sell.
So I am a trigger puller here, IF I find the right car AND the right seller.
07-02-2013, 05:12 PM
#47
Pro
you took the plunge
Thanks for the support! LOL!!!!!
Oh did you tell him about what I picked up a few months ago and had Intercity Lines deliver this baby to my house? Doggy not included in the purchase price though!!!!
http://forums.corvetteforum.com/c6-c...g-gone-it.html
Oh did you tell him about what I picked up a few months ago and had Intercity Lines deliver this baby to my house? Doggy not included in the purchase price though!!!!
http://forums.corvetteforum.com/c6-c...g-gone-it.html
As far as "taking the plunge," I think the C3 comment was in jest. You have certainly done it more than once.
Before I bought mine, I inspected and drove about 20 cars, everything from C1 to C6, because I like them all. It came down to a '65 365HP 4-speed coupe and the one I bought. Even though C-2's are my favorite, I couldn't turn down the power/handling/technology of the C6 Z06.
07-02-2013, 08:28 PM
#50
Melting Slicks
blackvette, are you looking for only LT-1s as a pc of history, or would other cars also work like a 69 L46, L36 . or some thing along those lines.
07-02-2013, 08:55 PM
#51
Drifting
Hello and thanks for responding in my thread. I appreciate it. This is a tough comparison.
The 1970 would be more valuable and desirable than the 1971 due to the horsepower.
The trouble would be to determine how much a NOM devalues a 1970 Lt-1 and how much a resale red paint job would devalue a 1971 Lt-1? That is the question.
The 1970 would be more valuable and desirable than the 1971 due to the horsepower.
The trouble would be to determine how much a NOM devalues a 1970 Lt-1 and how much a resale red paint job would devalue a 1971 Lt-1? That is the question.
07-02-2013, 08:58 PM
#52
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1971 454 or LT 1. That is what v I'm looking for. But I will look st any '71. I just found another so here is my warning I will be starting another thread. LOL!
07-02-2013, 09:04 PM
#54
Melting Slicks
07-02-2013, 09:23 PM
#56
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I was looking at LT1s a while back. Could not find one as the prices then were higher than now. But I was told a NOM LT1 is no longer an LT1. Not sure I totally accept that but I wanted the original. I settled for a L46 and was very happy with it. Now I am on the verge of buying a C2 and I can't believe how much it will cost me. All of a sudden I am in way over than I planned.
Damn shame people get all pissy when others share their experiences. But thank goodness they are very few of them. Most people are great help. You are one such person and thank you. I remember you reviewed a car or two for me in the past!!!!!!!!!
07-03-2013, 07:14 AM
#57
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What's so perplexing?
There are over 50 posts here concerning whether you will or won't...should or shouldn't.
What IS perplexing is what you DIDN'T get from my post that included the "take the plunge" comment.
The fact is that I don't care what you do.
!!!!!!!!!!!!!!
There are over 50 posts here concerning whether you will or won't...should or shouldn't.
What IS perplexing is what you DIDN'T get from my post that included the "take the plunge" comment.
The fact is that I don't care what you do.
!!!!!!!!!!!!!!
07-03-2013, 07:42 AM
#58
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What's so perplexing?
There are over 50 posts here concerning whether you will or won't...should or shouldn't.
What IS perplexing is what you DIDN'T get from my post that included the "take the plunge" comment.
The fact is that I don't care what you do.
!!!!!!!!!!!!!!
There are over 50 posts here concerning whether you will or won't...should or shouldn't.
What IS perplexing is what you DIDN'T get from my post that included the "take the plunge" comment.
The fact is that I don't care what you do.
!!!!!!!!!!!!!!
Best regards.
07-03-2013, 07:52 AM
#59
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When I get enough information to report in I will let everyone know.
07-03-2013, 11:17 AM
#60
Melting Slicks
Just a few comments as I believe Indydoug got it right.
Glad you're still looking. You'll find what you're looking for, eventually.
I love to do research for various things I do. The 1 thing I think you need to keep in mind is that nothing is perfect. I'm building my car based on what I envision. As this LT1 owner obviously did too.
I really believe you could be happy with this red one. It looks like a great car. Even though I'm a firm believer in making it how you want it, in this case he may have devalued the car somewhat by changing colors. Obviously, it made the owner happy at the time. I've been to a lot of local corvette only shows here in NV and AZ. The 1 thing I have noticed is almost NONE of the older corvettes driven to these shows were top level restored to original cars. Nearly everyone has personalized their cars or made changes to some degree. So keep that in mind.
I remember the earlier posts on your hunt for the right car. I think it was more of a tiff, feelings getting hurt, etc. on both parties that kept the deal from going through. I know, price was based on condition, which was misrepresented. Which brings me to what I posted above. Unless its a museum piece, or a very meticulously restored car, finding the perfect car may take awhile.
Glad you're still looking. You'll find what you're looking for, eventually.
I love to do research for various things I do. The 1 thing I think you need to keep in mind is that nothing is perfect. I'm building my car based on what I envision. As this LT1 owner obviously did too.
I really believe you could be happy with this red one. It looks like a great car. Even though I'm a firm believer in making it how you want it, in this case he may have devalued the car somewhat by changing colors. Obviously, it made the owner happy at the time. I've been to a lot of local corvette only shows here in NV and AZ. The 1 thing I have noticed is almost NONE of the older corvettes driven to these shows were top level restored to original cars. Nearly everyone has personalized their cars or made changes to some degree. So keep that in mind.
I remember the earlier posts on your hunt for the right car. I think it was more of a tiff, feelings getting hurt, etc. on both parties that kept the deal from going through. I know, price was based on condition, which was misrepresented. Which brings me to what I posted above. Unless its a museum piece, or a very meticulously restored car, finding the perfect car may take awhile.