78 corvette been sitting inside for ten years ran when parked, that all I know about it.

 

inside on a dirt floor?
any rodent damage?
any frame rust?
cant tell you what it's worth without knowing what condition the vehicle is in and that picture doesn't give a close enough look to all the potential problems

 

Is it, or is it not, a Pace Car? What is the seller asking?

 

it's on a cement floor, and no kind of damage, waiting to hear back from the seller

 

Without knowing much about it I would say if the frame and birdcage are rust free and it will run and move under it's own power, between $4000.00 to $7000.00 depending on the interior/paint/miles.

 

not sure if it is a pace car, don't know if it's a auto or stick, just one pic and no info, I know if it is a pace car should be worth a little more

 

From my experience getting a 1980 C3 that had sit for 10 years back on the road...

Whatever you think that car would be worth once it is roadworthy you need to subtract $2000-$5000 (possibly as much as $10k) from the value for parts and labor that will be necessary... And that is assuming it actually has had no significant damage from rodents or insects and has no major rust underneath... Also assuming the engine hasn't siezed up.

At very least it will need a new battery, all new tires, belts and hoses and for sure the fuel tank will need to be taken out and flushed and probably the lines replaced. The coolant should be drained, and replaced and preferably the system flushed. The oil should be drained and replaced along with a new oil filter. Also it is likely the carb will need to be rebuilt, the fuel pump replaced, and it may need new calipers and master cylinder. It may also suffer from other problems which may not be obvious... for example the rubber in the harmonic dampener in my 1980 had gone bad so that had to be replaced... And the radiator was gunked up enough and had a corrosion related leak in a place difficult to repair which meant it had to be replaced as well...

To get it running again before turning it over the spark plugs should be pulled and a little light oil added to each cylinder and allowed to sit for a while to hopefully reduce the startup wear and tear on the rings and the top of the bores.

So bottom line is, if where you are a 1978 is selling between $8000-$12000, I would be thinking this one is worth maybe $4000-$6000 as it sits, depending on condition of interior, number of miles, and the options it has on it. You need to go on the low side in a case like this because of the unknown factor -- you are taking a big risk on what it is going to cost.

In a perfect world you would make a variable offer contingent on what it really takes to fix it up, but that could be messy and I suspect a seller might be reluctant to go for it.

 

not sure on what is needed only thing I do know is it doesn't run and why it doesn't I do not know.
Thanks for all of your help and comments

 

Like I said... it is a big risk. It might only cost you $2000 or so to get it running if all you need is to freshen up all the rubber parts and flush and fill everything... or it could cost $10000 if there is a major issue or three that comes up along the way like say, a seized up engine or transmission.

Because of that risk you should not pay too much or see if you can work out some kind of deal where you pay less or get a partial refund if necessary repairs cost more than a certain amount...

So for example... say you offer $6000... but if the repairs run more than $6000 then you get $2000 back...

it would depend on what the seller thinks it is worth an how motivated they are to sell whether they would even contemplate a deal like that. But if not, then your assumption should be that the repairs will be costly and your offer should be lower.

 

What he said. You're better off getting one you can test drive and drive to have inspected by a reputable and knowledgeable shop. Otherwise you're better off taking your money to Vegas, your odds are better.

Then there is they reason they parked it and NEVER fixed it.

 

Seriously... My 1980 which sat in my garage for 10 years and looked in very similar condition to the one in the OP... I would probably have been better off $$$ wise going out and buying one off Craigslist that was already running than what it cost me to get mine back up and running... And that is when I already HAD the car and I wasn't paying someone several thousand for it. I'd definitely have been better off $$$ wise just buying one if I could have gotten some sucker... err... nice person... to give me a couple grand for the hulk that was in my garage.

But... it was mine, and I had a sentimental attachment... and the wife said it either had to get running again or go...

 

Possibly, especially if a buyer wanted a Pace Car. Check the VIN right from the git-go.

 

I talk to the owner it is not a pace car just painted to look like one, it ran when it was parked. If I do buy it is just to flip as I already have a 71 coupe

 

When we bought ours, I was told only thing needed was battery, arm rest, tires and a new cam. we were told the engine was recently rebuilt.

Fast forward to new rebuilt engine, new tires, new battery, new arm rest ( which was because they lost the old one while working on the doors, because the door locks didn't work and they lost parts ) new front suspension and radiator support. Not to mention the rats nest or wires and other bubba techniques that I would've had no idea on until I started working on the car

We paid 3K, would have rather paid 2. We let our emotions rule on that purchase. Don't get me wrong, love the car, but try not to get caught up in the high of buying a seemingly nice corvette without understanding the hidden risk you are taking. certainly looks like a pace car paint job. But then again ours said L82 on the hood too

 

I know the OP said it wasn't a Pace Car, but just to help those who weren't sure, there are two hints in that photo that it's not a pace car:
(1) Hub area of wheels is painted black (Pace Car wheels were polished alum everywhere except the red line just inside of the wheel lip, also missing)
(2) Stainless trim for rear window, Pace Car trim was painted black (satin black, I believe).

 

Flipping cars like this is a very dangerous and more often than not losing proposition. Unless you can get the car for little to nothing and it doesn't require much to get it to saleable condition you are unlikely to make a big windfall profit. And you could very easily end up losing money on the deal if you run into unexpected trouble. Even if things go smoothly and you come out ahead you may not be getting much when you figure hourly rate if you do the work yourself.

I understand the attraction... every time I see a car like that I want to save it... And it is tempting to think that a few bucks could be made flipping them... but the reality is that the collector car market is still incredibly soft and replacement parts are expensive.

 

I wouldn't even bother if all you want to do is flip it. The cost and aggravation are not worth it unless you really want the car for yourself. Corvettes are one of the most expensive cars to restore.

 

They're cheap compared to most of the myriad of cars that crossed the Atlantic Ocean to get here. In most cases, though, the value upside for vettes is lower too though.