MikesRed68

Thanks to everyone who formed their opinion. Seeing what everyone wrote id say my opinion is looking at the Hagerty value for a guideline and then using your own judgement on a car to determine its value.. Mike

CA-Legal-Vette

I think if you read the section highlighted above, you'd see the qualifiers that would suggest some of the items that you did put you on the higher side of the curve. I'd add that the desirability of your starting car plays a hige part in the value of restoration. Finding the original engine for an L88 is inherently adding more value than you finding your 350 for a 68 or me finding the original l48 350 for my 73.

I agree that appraisals are close to useless, not because there aren't good appraisers out there but because there are bad ones. If you're seeking an appraisal to buy or sell a car and don't have the knowledge to put a value on it, how are you going to know the difference between a reasonable or inflated appraisal?

There is an additional factor that can greatly affect transaction price, time. If the seller is patient and puts in some effort advertising and presenting the car well, it'll probably sell for a lot more than some of the Craigslist atrocities that we see on here all the time. Price will be even higher if the buyer has a lack of patience on the purchase. On the other end of the spectrum is the seller desperate to dump the car and a buyer that's being opertunistic and smells blood.

I really think that the reason these cars seem to be so hard to value is the lack of published data on completed transactions coupled with the huge range in the condition of the cars.

Rescue Rogers

In the end its only worth what someones willing to pay for it. The hagerty values do give a rough idea where to start haggling at. An very good appraiser can give you a decent estimate as well, then take those and see if your insurance company will insure it for that value. Just dont go by the Mecum prices they show on tv, those shows have totally blown prices out of proportion. Yes egos have a role in inflated prices as well. At this point whatever i add to my car isnt raising my cars value, 17" wheels and new rubber, adding power brakes and tilt column, thats all money that may only raise the price by 0.5% - 1% if i did want to sell it, which will never happen. The only way a given value will raise now is buy the whole market going up over time the way Jags and Porche did. Maybe in another 15-20 years my car will hit the $27-$30k mark. Not holding my breathe for that

GTO1966

Cars values are such a funny thing, I was looking at 85 to 88 testerrosa in 2008 in the bottom of the economy and they were giving those cars away for 55 to 68k....now in 2017 they are 120 to 180k ...hows that for a wild swing in value, and the real question is why???

raydog9379

I was looking at the same a few years back... same thing for a Countach. Guessing it's people like me who were kids in the 80's now have some cash and want the car from the posters on their wall as kids.

Heck, you could get a higher mileage Testarossa (i.e. 25k-35k miles on them) for <$40k. That's when I seriously thought about it... kicking myself now.

20mercury

Interesting, I paid 19 for my LeMans Blue 68 with NOM 454 too. (spent more already, though Vintage Air jumped it up a good bit, so I tell my wife, )

Seriously though as my DAD used to tell me, things are only worth what you can find somebody willing to pay for it

Hypothetical for you, take 12 Corvette buyers who buy the same Corvette: the emotional, I like red, guy and thinks they do not rust(?) pays the high end. McScrooge with a roll of benjamins in his coveralls who has been trading tractors and muscle cars since he was 14yrs old pays the low end. So, you get a range of prices just from who shows up to buy and their negotiating ability. I try to get a range of values from ebay completed sales, Mechum auctions, and asking Craigslist, ebay, ect prices (discounted maybe 10 to 20% from asking to actual sales prices, & also how long on the market). Saying all of that, my range will be different from 5 others. Isn't this what professional appraisers do, find comp's, check condition and estimate a value? IMHO, Haggerty, NADA and the rest are over valued generally.

Nice red 68 Roadster you have!!!

Mr D.

OK all you armchair appraisers take a chill pill, what I posted was more tongue in cheek than fact.

Now having said that if ANYONE is looking to own a used Chevy as a investment vehicle you are fooling yourself. Owning and wrenching on a used Corvette is a hobby nothing more and most hobbies don't generate a profit.

Try this:
(what you paid for it + what you have put into it) +$1.00 = car value

As for professional car appraisers I would put them right up there with Lawyers and Politicians who just want your money.

Best way to find the value of any item is to do your due diligence and search all for sale, sold, might be for sale, might have sold like items over the last year and that will give you a good basis for what something is worth.

In the end its worth what someone will pay for it not what you think its worth.

D

MikesRed68

Hi 20mercury ....Thanks for your input.....Makes sense and i agree.... And thanks for the compliment on my 68 Roadster

USAFVeteran

Honestly, it's worth what somebody is willing to pay for it.


I've lurked around this forum for a few years, and I see that almost everybody here thinks the C-3 Corvette is not worth what I would consider to be a fair price. But, oh well......

MikesRed68

Meaning what? A fair price higher or lower to you?

MikesRed68

I also think that every owner thinks he/she car is worth more than what is it ... And that is understandable..

blue by you

My car is worth what someone is willing to pay for it, just like any other used car. I just sold my son's 87 jeep wrangler in good shape, I went high knowing I would have to come down as everyone offers less me included and it sold for 1000 less than asking price. so like we are all saying they are worth what someone pays for it.

MikesRed68

True dat

JohnnyQuik

You pretty much nailed the reason why people think Hagerty values are inflated. Most people who think they have a #2 car really have a #3 and so on. A typical "numbers matching" '68-'72 base motor, 4 spd coupe is worth around $20k just like Hagerty says. My '70 LS5 M21 Convertible with a bunch of options is worth around $40k just like Hagerty says. In other words, there is a huge range of values for "regular" C3's that people not familiar with the difference won't understand.

Sluefoot

One thing that was NOT mentioned....."What you paid for the car plus what you have into it".....BUT....what amount CAN you apply toward the WORK that YOU put into it...
how can you fairly put a $$$ value on YOUR TIME??

MikesRed68

:

MikesRed68

I guess an appraiser does not care about " Blood Sweat & Tears..

71 Green 454

Yes, that is a crazy formula for determining the value of our Corvettes. Hagerty insurance determines the insured value based on pictures, condition, options, etc. For buying or selling, you can only go by comparing advertised asking prices, completed sales, and demand for your particular car. I do think this forum is very helpful when needing advice, whether buying or selling. I think my car is worth 40K, but it might only bring 30K. So I would start high and adjust accordingly.

I would not be in the market for a Corvette like mine because I would not want an original '71 big block 4 speed convertible. My preference would be a restored '71 small block 4 speed coupe. There are many variables when trying to determine the value of our cars, and our emotions do affect our own appraisal.

MikesRed68

True...true......and that our emotions play a big part.....and its hard not to let that go and look beyond

USAFVeteran

True story, take from this what you wish.....


I just bought a new truck after our house was built and needed to sell my 68 Dodge D100 half ton pick up. Brand new 318 .060 over, great cam, headers, 727 auto, aluminum intake, Holley carb, and it ran like a champ.


I parked it on the street outside of our sub development with a sign for $1800 on it, I had over $3000 just in the motor rebuild, but figured the truck was worth that.


It sat there for 3 weekends without 1 single call. On Sunday, I brought it back home and ripped the signs out and made new ones on Saturday morning, and put it back out on the street. It sold in 2 hours.


The new signs? They said $4500, and I took 4400 for it. The low price made it not worth somebody having, but raise the price for the same truck, and now it has to be a good buy.


Take that for what it's worth. And obviously, I didn't tell the new owner this story......