Lets say you have a car that would be worth 12000 . You have around around 10,000 on the drive train everything runs great . The suspension has been redone trailing arms , new bushings n front end redone new springs , shocks springs , wheels tires brakes . the front half of the cars been repainted . But it still needs the interior and back have of the car repainted say 7500 in work . Is the car worth the 12,000 or do you loose the 7500 when selling ?

 

Is it the 76 in your profile. You are lucky to get 12k for a 76 in great condition.

 

1976 350 no part of the motor is from the original car .

 

Here's the problem with a un finished car for me.

1. Of the work you have already done would I do the same if I was to do the work. Most likely not. So right off the start your 12000 car is worth less to me.

eg suspension has been done. If back to factory ok for a old guy buying a daily driver, but for most of today's performance younger crowd stock isn't good enough if I was to rebuild. Give me the resto mod rebuild. Same goes for the engine and transmission back to factory or resto mod.

Lets look at completed cars. Factory spec car vs a resto mod. In most cases resto mod cars sell for more.

2. the trust factor in the work already completed. Usually the question comes up why are you selling a almost completed car. My thinking is there was a problem in the work already done and you are cutting your losses.

3. Is it a car model that sells. Some cars a rare only because no body want's them.

4. What is the wealth of the area you are selling the car in. Are there enough people looking to buy these un finished projects. If no one wants these cars the value goes down and down.

But for me the biggest thing with a unfinished car is do I trust the work you have already done and would I do the same. If it has no proof of quality of workmanship and quality of parts, your 12000 value drops quickly and forget about the work that's left to do.

 

95 Pct of the work i have had done was at a shop . So what you saying is most of the people that do there own work is basically worthless because they can't prove the quality .

 

For me it would require a conversation with the person to determine how knowledgeable he / she is with the work being done. Things like torque specs / procedure / cleanliness / did paint cover problems.

Most people seem to complain about the bubba fix. If the shop has a very good reputation with corvette's this helps.

Also the choice of parts selected. Based on cheap parts vs reliable parts vs performance parts.

This would also reflect on the shop if they made the decision vs the owner telling the shop here's my parts install them.

Things like leaks, brakes , throttle response , rattles , cleanliness says a lot about the quality of parts and quality of workmanship.

But as a buyer you cannot trust the word of the seller.

And as a seller its difficult to get the trust of the buyer without evidence of quality.

Either way its difficult to sell and value a incomplete project.

For insurance purposes its a different story. You have bills to show what you put into the car, plus the average of what the market will bare for a given market.

I know for my 78 corvette here in Canada, with $$$ added to make it track ready 6 speed car with a ZZ383 complete with Wilwood Brake system and complete suspension work. I am not sure anyone would purchase the car local for any price ? While the car has proven reliable for track abuse, it's a car most people don't value and want to buy.

Value is what the buyer believes not the seller.

 

It is almost impossible to get your money out of a car that is worth 12 to 15k at the most. Initial cost plus paint, interior, suspension, drive train etc. will exceed the max value of the car. Unless you own your own restoration shop.

 

Are you in a need to sell is that an issue?
If its a front to rear top and bottom resto bet its worth more than 12k. Finish and enjoy, dont let a theoretic selling price hold you back unless you are fed up with the car and want out. In that case cut your losses and move on.
not one person on this forum would sell thier "all gone through" car for that

 

Its kind of like home values.

Replacing the roof or windows doesn't add much value compared to the cost to have it done.

People expect a roof to be there and windows to look out of. The selling point to the user is Hey my place has a new roof and windows so by mine.

 

The biggest problem I see is that as described, I dont see $12k in value for an NOM '76 that needs plenty of work.

It might be different when inspecting the car, but an arbitrary "value" of $12k is likely up for debate, and modifications arent generally recoverable costs. Hard to really say with no pictures, etc.

 

This is why it is so hard to make money on a corvette if you do it the right way. All the "dirty jobs" are necessary to a good driving corvette, but your investment has made almost no increased value to most buyers. They cant easily see the undercarriage, (and most wont know what they are looking at anyway), so they cannot appreciate how hard it is to do swing arms and suspension bushings.

All 90% of buyers want to see is a super shiny 10 foot paint job, chrome engine dress up kit and $1500 of new wheels and tires.


Sorry to say, the only way to see that money again is to finish the car and enjoy it yourself.

Best of luck,

bigredbrad

 

its worth what someone will pay for it. List it for $12500 an see if you can get the $12k. Doesnt really matter what people hear think, they arent in the market for your car. Someone on Craigslist might be

 

Define "would be worth $12K." Would be worth $12K after $7500 for paint?

 

Its a 76, you will take a hit, sorry its the cold hard fact, how much hit depends on you, how much more do you want to invest , even 7500 more might not make this a 12k car to many or anyone.

Or can you get 12k of enjoyment?
Thats a whole other story

 

A '76 for $12K with new paint, new interior, nom, but represented well, is/maybe market value.
Regardless of how much money you paid for, or put into it.

 

I like your thinking - it's just like mine!

 

Valid point!

 

You're absolutely on the right track, but sellers are typically blind to sensibility.

 

 

Depends how good of a salesman you are and how you present the car. Can you sell Ice to an Eskimo?

You also need to find the right buyer, The guy that comes to look at the car with the Hagerty Price Guide in his hand is not your buyer, but the guy that walks up and says my dad had one that looked just like this when I was kid, that's your man. If you catch my drift. You are looking for the emotional buyer.

That's why I would never sell a car on this site, your buyer is not buying off emotion, but I would buy one off this site.

Buying is the reverse order of selling.