I’m looking for a little advice on a 1977 Corvette I am considering buying. The guy is asking $9,500 and I just want to get an idea if the price is a good deal, is accurate, or too high. I have had C4 and C5 Corvettes but this is my first time looking into the older ones and I know the market is a bit tricky with them right now. Any help is appreciated. The car is an L48 automatic trans.

The good:
-27,XXX original miles (the guy has documented the mileage through the 3 previous owners.
-About 5,000 on rebuilt engine (original block)
-Rebuilt transmission
-Rebuilt front end
-Good tires/original wheels
-Good body, nice paint (but with some spidering)
-New seats and interior parts
-Wipers/gauges/lights/buzzers work
-New stereo system with CD/USB
-Undercarriage and frame free from all but a little surface rust


The bad:
-Headlight vacuum system is intact and in good shape, but not functioning (vacuum is going to the large cam from rebuild)
-Has AC but not connected
-Will need some rear end work
-Not original paint or interior color (but both are in good condition)
-Some wear on the remaining original interior parts
-Carpet is fairly new but has been dyed black to match new interior color
-There is a leak in a brake line that the guy said is fairly recent and he hasn’t had it checked out yet. I checked and the leak has not reached the brake pads

As you can see there are clearly a few things that could be better (plus the brake issue needing to be checked out) but the car is by far not a project car and presents extremely well. There are some originality issues (paint/interior colors and some aftermarket engine parts) but on the other hand with under 28,000 it has survived in incredible shape.

So should I buy? Should I haggle? I should mention that I'm in the Kansas City area where there typically aren't a ton of old Corvettes for sale at any given time so the market isn't super flooded.

 

Does originality issues bother you? If so the price is too high.

 

let me preface this:

Its worth what you or someone is willing to pay.

My collector book show's avg sale price reported for a 1977 in super good driver condition with mostly original stuff and ALL working at about 9500.

That being said you have some issues with this car and the price of poker could get expensive. The market is very soft right now and armed with that I would haggle. I would also look a little more as there are better deals to be had.

If you really love it and want it I would haggle and try to get down in a different price range.

Remember the seller has priced high to give himself some wiggle room.

Make him wiggle into around the 8k range or high 7s.

Brakes can get expensive, non working lights can get expensive.

Can you do your own work?

 

1. The price is too high

2. I'm curious as to why you think a car with an incorrect paint color change and a complete incorrect interior color change (including a dyed carpet) has "incredibly survived."

The overall description sounds like not much on the car hasn't been messed with.

If the car as it sits is just what you want, more than all the other cars out there, then make those color changes work for you and make a serious adjustment to that price.

 

Obviously people have picked up on the main issue--what determines the value: originality or current condition?
I meant to add a couple pictures so I'll do that here but it sounds like the opinion so far is that originality is the priority.

 

Not a bad looking car, but as mentioned, not original and at least they were up front about it, but with due diligence, you would've found out anyway (Trim Tag id's it). I think it's high as well.

Let me preface this as well, you should think about exactly what engine-tranny combo you want to buy. Have you ever tried a healthy four speed (Muncie M-21 or Borg Warner Super T-10)?

I have a 95' C4, auto car and my 74' four speed car is far funner! The 95' is nice, but the 74' loves nothing better than taching it up hard and banging gears.

Don't buy the first Vette that pops up. There's also some good deals in the For Sale section here.

 

My question is, why has a vehicle with only 27k miles have rebuilt engine and tranny and front end? How has this thing been tore up to require all that? What else has been abused and you are not seeing? Based on that I would say price is too high and I would be weary.

 

bull's-eye

 

All good, sound advice from the experienced owners here. Don't be in a rush. Good sign the owner is upfront on details, but to complete the store ask why. Even though they spent $ on new major components, it doesn't mean the value of the car increases. Good luck and be smart.

 

Circuit Rider has raisded a huge question...and I can't imagine any good answers. And then there's the color changes on top of that? If it were me, I'd pass, after I got "the story," for curiosity's sake.

 

Original 77 is not a leader in the collector market,and it would be doubtful the car has only 27k, not with the work that's been done.As for being a good driver and have some fun with it car it could work.See if you can get the price down,if not walk.Remember to ask yourself how much car do you expect for 8000.

 

All good advice. If you look hard enough you will see asking prices on "collector cars" and Corvettes in this case are all over the place. Remember they are just that "asking prices". Take your time. Don't be to anxious. I think for 10K you can find a car you will be happy with after the buy.