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Old 10-17-2016, 09:58 AM
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AllC34Me
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St. Jude Donor '10

Default Corvette Hobby Thoughts - Long Post

I was speaking to another Corvette Forum member today and I thought I would share a thought here for new and existing hobbyists alike.

When you purchase a used and old, unrestored, maybe slightly abused, maybe ignored, Corvette I wanted to give you some thoughts about what to consider when buying the car. This is not an inspection guide nor is it information about what to look for in a car, that is a technical topic best covered in another forum at another time. What I want to touch upon is "why are you buying that car?" and "food for thought on your decision"

First Item is Price: Certain C-3's have higher price tags for sale, some look like good deals and carry a lower price tag. Ask yourself why the price is where it is and if you are not sure then ask the seller how they came to establish the price they have for the car. This is a buyers market so there is absolutely no reason to pay more for a car than it is worth to you, and only you know what it is worth to you.

Second Item is Motive: Assuming you have cleared the hurdles associated with the purchase price and establishing it is what you are looking for (price wise) then you need to determine what is the motivation you have for purchasing. Motives vary, but include 1)purchase to drive as a driver as it is now; 2) purchase to repair and drive as a driver; 3) purchase to restore and drive; 4) purchase to restore and show; 5) purchase to restore and flip; 6) purchase and part it out. Each of these has fixed and variable costs associated with the decision to buy. All C-3 Corvettes, regardless of year, are fiberglass bodies and have metal birdcages and frames that are subject to rust if not stored or care for properly. Older isn't worse if the car has been cared for so condition of storage since new should always be a factor you consider.

Third is Skill: Assuming you have the right price and your motive is clear to yourself you still have to determine what your skill level is to repair or restore the car yourself, or how much of the work you will have to trust to others to perform on your behalf. The more you have done for you the more costs will rise in getting the car back on the road.

Forth is Value: Touchy subject and one in which you can get a lot of opinions but generally speaking the 68-72 cars are the highest value C-3's; the 73 is the tweener, the 74-77 is lower than the early years; and the 78-82 are still quite affordable. For my example I can pick on myself. I purchased a 1971 Corvette that had rear end damage (not clearly visible); front end damage (partially visible); and serious rust rot in the birdcage area (somewhat visible). I paid too much for the car initially; paid to have others help to restore it; now it is worth less than I can get for the car. It is a story that many here can say they have experience. I can also say, generally speaking again, that if your motivation is to completely restore and flip the car for sale then the earlier C-3 years have the highest chance of getting your money back, but there is no guarantee because, as stated earlier, it is a buyers market.

If your purchase motive is to drive it and you have the skills to do the work yourself to get it and keep it running, then congratulations, you have a lot of choices in your car purchase options.

If your purchase motive is to show it and you have no skills to do the work yourself you will be undertaking the most expensive of the options listed above and one in which you may or may not be able to recover your investment.

When looking at a car be honest with yourself why you want it (motive) and how much work it will take for you to get what you want (time and expense). Knowing this ahead of time can save you hundreds of hours of time, thousands of dollars in expenses, and an inordinate amount of frustration.

Good luck with your search, selection, and ownership. If there is anything I can do to assist you please let me know.

Best regards,

David Howard
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Old 10-17-2016, 12:03 PM
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CA-Legal-Vette
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Very well written and though out David. The value proposition is difficult to assess, particularly because it fluctuates with the economy and seasonally. It'll be very interesting to see what happens longer term. On the one hand these cars are becoming less common just based on the number that end up in the hands of the dismantles. On the other, demand, if anything, is going down. Maybe it's because of a shift in demographics or economics. Not sure.

One point that you bring up is key, and perhaps very difficult for us to honestly assess, our ability to follow through and do what we plan to do. This includes ability, finances and motivation. All three seem to be in good supply at purchase time but wane when trying to remove a rusty bolt hidden in the undercarriage.
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Old 10-17-2016, 12:51 PM
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Alan 71
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Hi CA-L-V,
"One point that you bring up is key, and perhaps very difficult for us to honestly assess, our ability to follow through and do what we plan to do. This includes ability, finances and motivation."

I think this is especially important too!
I believe that there are ways for the AVERAGE individual to work their way through even a very DIFFICULT restoration by PLANNING what they're going to need to do.
That will insure that they provide time to learn new skills as they need them, (ability), don't need to come up with too much of the money at one time, (finances), and most importantly, don't become bogged down on just one part of the restoration so that they become discouraged and lose interest in the project (motivation).
One of the first things I learned working on my car was that I needed to see continued progress even if that progress was as limited as painting a few brackets or cleaning a few fasteners.
It's important that the 'pile' of things to do gradually but constantly shrinks, and the 'pile' of things that are done slowly but continues to grow.
Even the smallest actual progress makes an otherwise difficult day worthwhile.
Regards,
Alan
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Old 10-17-2016, 02:17 PM
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How timely! I'm new (this is my first post) and am trying to learn all I can before possibly buying a C3. Until I convince the wifey to let me get one, I can at least I can have fun learning all about them: )

I'm not a total noob, but close! I have a 914 I'm having fun learning how to fix, but it's a completely different car. I also have done minor work (tuneups oils changes, transmission fluid change) on my 2011 chevy truck.

1. I've read the post about what to look for, and this one. Is there anything else people who want to buy need to know? Other posts I should read?

2. I'd like to take someone with me, or have a pre-purchase inspection done. Is there anyone in SoCal (northern LA area) who does this?

3. This car came up on craiglist: https://losangeles.craigslist.org/an...818162886.html
Any thoughts on what to look for? The seller states the birdcage is solid. He's selling it because he's moving. Seems motivated.

4. Where are good places to buy parts?

Thanks for any help and advice.
Old 10-17-2016, 08:25 PM
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BEJ
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David,

Well said and certainly words of wisdom. My wife bought my 75 for me as an anniversary gift. I picked a car that needed a lot of work to use as a vehicle, pardon the pun, for my father and I to work on together. Dad was a hard *** retired soldier and he and I spent the better part of my 20s and 30s disconnected. We used the car to have something in common, something to get us back on the same page. Unfortunately, shortly after we started, Dad passed away unexpectedly. Since then, I have been forced out of my comfort zone, learned a lot, had some successes, multiple failures, chased several red herrings, come down with multiple cases of the while I'm at its, come close to getting her on the road, and been humbled by how far away "close" still is. In this regard, Alan's comment is incredibly germane. The ability to commit and stay committed, is so important.

Looking back, knowing what I know now, (experience, research and tons of great advice here on the forum) I would probably have been more selective in my choice, but well, here we are. At this point, I just hope to drive the darn thing before I celebrate 10 years of Vette ownership. Anyway, great words and advice that will hopefully help new comers to our hobby.

Bryan
Old 10-17-2016, 08:57 PM
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Originally Posted by VetteT65
How timely! I'm new (this is my first post) and am trying to learn all I can before possibly buying a C3. Until I convince the wifey to let me get one, I can at least I can have fun learning all about them: )

I'm not a total noob, but close! I have a 914 I'm having fun learning how to fix, but it's a completely different car. I also have done minor work (tuneups oils changes, transmission fluid change) on my 2011 chevy truck.

1. I've read the post about what to look for, and this one. Is there anything else people who want to buy need to know? Other posts I should read?

2. I'd like to take someone with me, or have a pre-purchase inspection done. Is there anyone in SoCal (northern LA area) who does this?

3. This car came up on craiglist: https://losangeles.craigslist.org/an...818162886.html
Any thoughts on what to look for? The seller states the birdcage is solid. He's selling it because he's moving. Seems motivated.

4. Where are good places to buy parts?

Thanks for any help and advice.
I agree with taking a Corvette savvy person with you to look it over. From the pictures I see several things I would want to understand in this car before purchase including a review of any documents showing who did the repairs, receipts, etc. Rear end is riding high on the car it appears. Stinger hood is not original to the car. An inspection can verify birdcage condition, some key areas to check are the pockets behind the kick panels, as an example.
Consider posting a new post showing the car ad and asking for input from forum members specific to your interest.
As for parts, there are some great suppliers for parts, Willcox Corvette does a lot for forum members and are great to work with.
Good luck with your search.
David Howard
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Old 10-17-2016, 09:12 PM
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Very good thoughts. I bought a cheap car that presented reasonably well and was super solid but mechanically worn out. For my desire for a car to improve while driving it and modify significantly, but not take on a full body off restore, it worked out very well. But I never would have recommended the car to most other potential purchasers. I could have bought a 1970 for similar money at the time, but it needed a complete restore.
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Old 10-17-2016, 09:24 PM
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I'll add one concept.
If you're looking at a car that needs a good bit of work, and you're thinking "I'll work on it as I get the money, and one day I'll have a killer vette" and you start buying parts, and you start working on things ...and as you get money time drags on ...and the new brake parts and rubber parts you bought and some you put on/some you didn't are now five even ten years old, and the car is still a non running project. Well, those parts are not new anymore, far from it. And when you say "those are new, I had 'em rebuilt" ...what 5 or 6 years ago, maybe more? Now you're in a vicious circle. Not to mention finding parts in a box that you just re-bought and used because you forgot you bought 'em the first time, ages ago.

So use this scenario, that has been played out a million times, to assess the potential project car you may be looking at. Or you may be looking at this exact car that someone has been "restoring" for ten years... needing everything.
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Old 10-17-2016, 11:10 PM
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Lots of good advice and thoughts here. The one that I'll stress on is time. You need to be realistic with the available time you have to work on a project or even maintain a Corvette that is ready to be driven. Many people realize when it's far to late that they just don't have the time for a hobby car.
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Old 10-17-2016, 11:15 PM
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Originally Posted by 3JsVette
Lots of good advice and thoughts here. The one that I'll stress on is time. You need to be realistic with the available time you have to work on a project or even maintain a Corvette that is ready to be driven. Many people realize when it's far to late that they just don't have the time for a hobby car.
I agree with this to an extent... but I also think that almost everyone is capable of making time if they want it enough. For example, if you ever watch TV, that's time that could be spent working on a car if you have the motivation... Maybe consider what you are or aren't willing to give up to put the time into the car when required.

Last edited by Metalhead140; 10-17-2016 at 11:16 PM.
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Old 10-17-2016, 11:24 PM
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Originally Posted by Metalhead140
I agree with this to an extent... but I also think that almost everyone is capable of making time if they want it enough. For example, if you ever watch TV, that's time that could be spent working on a car if you have the motivation... Maybe consider what you are or aren't willing to give up to put the time into the car when required.
You're correct I should have added that.
Old 10-18-2016, 08:45 AM
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Your "price, motive, skill, and value theory" can be applied to much more than Corvettes. Any type of restoration, resurrection, recreation, can use the same principles. Thinking of buying a beat up house, use the above. Wanting to resurrect an old boat, again, use the above.

It's a very "versatile" statement!
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Old 10-18-2016, 02:37 PM
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Default Good thread!

Good thread and great food for thought!

Few things I have learned here and elsewhere:

*anybody can start a project, but it takes a helluva person to finish one successfully (I think I know of a "few" Corvette projects still in progress like that)

*it generally costs just as much to fix up a highly desirable Corvette as a mid year C3. Example, paint for a 76 and a L88 is similar.

*I do not know anybody making money flipping Corvettes except on TV.

*Even if you do EVERTHING yourself, parts will put you upside down pretty quick. So for me, the goal is to do most everything yourself and not be TOO bad upside down overall.

*You are going to spend your time and money doing something, so if you enjoy working on and driving your Corvette, all of this is ok and good.

*I really appreciate the modern world of internet and this forum so that nimrods like me can do a lot of things on these C3's. Fifty years ago, your options to ask questions learn how to do things were a lot more limited.

Cheers!

Last edited by 20mercury; 10-18-2016 at 02:44 PM.
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Old 10-18-2016, 06:21 PM
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Interesting topic.

I paid too much for my 68 at the top of the market in 2008. Not enough education on buying and had not yet discovered this forum. I went in totally blind. For me the biggest hurdle was figuring out what I wanted the car to be. I don't look back at the cost for parts and tools because if you add it all up it is a pretty cheap hobby after the initial investment.

I take it out of service for a few weeks or months and complete a project, then enjoy driving it while I plan the next project or switch gears to do a project around the house.

Alan's point about planning is an important one and applies to more than Corvettes as WB points out. Make it driveable, then do one project, drive it, repeat.

One of the things that has helped me tremendously (in addition to information gathered here) is buying or making the right tool for the job. I'll sacrifice a wrench, socket or screwdriver without a thought if it makes the job easier...antique shows, estate sales, can be good sources for sacrificial tools.

Another thing that is extremely helpful is a supportive wife, SO, or somebody who is willing to go out to the garage on Sunday evening and check out what you did.
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Old 10-18-2016, 07:19 PM
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Default Wow, forgot and thanks for reminding me!

Originally Posted by Kevin68
Interesting topic.

Another thing that is extremely helpful is a supportive wife, SO, or somebody who is willing to go out to the garage on Sunday evening and check out what you did.
Wow, forgot and thanks for reminding me!!! My better half helps me install windshields, bleed brakes and provides that "third" arm when needed!

Last edited by 20mercury; 10-18-2016 at 07:20 PM.
Old 10-18-2016, 07:42 PM
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Economics some years ago pushed me into selling My Corvette. Years ticked by. A friend started "one of those" projects. Four years later a disassembled unfinished and incomplete Corvette pushed the frustration level to the point of a phone call. " I know you miss your Vette" "Dave, grand kids can not fit in my Corvette". "I can not do paint and the third painter........". He is taking a heavy hit but likes knowing it will be driven sooner than later. All go and very little show, at least for now.
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Old 10-18-2016, 08:48 PM
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Buy the absolute best your finances will permit. It'll be cheaper in the long run.
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Old 10-18-2016, 10:04 PM
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Over the past 45 years Vettes seem to infrequently get the mechanical attention. I hear people moan about them breaking....well I guess so if you never did anything but drive the bee gesus out of it and never replace worn parts.

Everybody wants a vette ....but most sell quick once they see the large amount of neglect the previous 5 owners ...who did zip. See the 20 grand it will take to make their dream of a safe reliable car come true.

I remember in the 70-80 -90 guys buy the cars and do nothing to restore the car....everybody can afford the car....but few can or will foot the bill to bring the car up to spec.

Put chrome crap all over it , spend money on trash paint, clown wheels , chain steering wheels ....all kinds of cheap cheesy after market garbage . Not spend a dime on rebuilding engine , trans , brakes, suspension , steering..... only worried about looks .....what the hell if the frame is rotted out.

Then too many people buy a corvette without any previous experience riding in one or driving . Thinking with the small head and not the big one.
Old 10-19-2016, 09:22 AM
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Great post and thanks for taking the time to write it. Also the feedback from other members is spot on and I wish I read something like this before purchasing. No regrets, but it is always good to go in with as much knowledge as possible and your eyes open.


Almost wish this could be merged/combined with the "10 things to know before you buy a C3" video/post.
Old 10-19-2016, 09:58 AM
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Originally Posted by Alan 71
Hi CA-L-V,
"One point that you bring up is key, and perhaps very difficult for us to honestly assess, our ability to follow through and do what we plan to do. This includes ability, finances and motivation."

I think this is especially important too!
I believe that there are ways for the AVERAGE individual to work their way through even a very DIFFICULT restoration by PLANNING what they're going to need to do.
That will insure that they provide time to learn new skills as they need them, (ability), don't need to come up with too much of the money at one time, (finances), and most importantly, don't become bogged down on just one part of the restoration so that they become discouraged and lose interest in the project (motivation).
One of the first things I learned working on my car was that I needed to see continued progress even if that progress was as limited as painting a few brackets or cleaning a few fasteners.
It's important that the 'pile' of things to do gradually but constantly shrinks, and the 'pile' of things that are done slowly but continues to grow.
Even the smallest actual progress makes an otherwise difficult day worthwhile.
Regards,
Alan
Alan
I totally agree about making some progress big or small .Sometimes I have to just walk away for a short time and many times when I return the problem is much easier to resolve.Also I have to stop and learn (many times through yourself or other forum members) and then once I understand how something works its much easier to repair.Great post.
Wes


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