'78 C3 Inheritance Valuation
Burning Brakes
Joined: Nov 2004
Posts: 1,193
Likes: 175
From: Hillsborough NC
I don't think that car was born an L-82. The yellow/red lines on the tach in the interior pic seem too low. A real L-82 would have the L-82 logon on the lower portion of the tach. Luckily the VIN will tell you this, so you definitely should check. Lots missing in the engine compartment from an L-82 as well, but those items (dual snorkel air cleaner, AIR system) would most likely have been discarded with the mods done to the motor (headers, manifold and air cleaner).
I just finished up being the executor of my Mom's estate last year, it's a crappy, thankless job (but thankfully we were all very civil) in the best case.
I would put in a standing offer of $5K and ask for first right of refusal on the best real offer to buy the car the estate gets + $100. The Executor will be bound to do the best thing financially for the estate, so if you beat the offer, they should have no problem taking it.
Best of luck, but unfortunately, there's only one of these that was owned by your wife's dad.
I just finished up being the executor of my Mom's estate last year, it's a crappy, thankless job (but thankfully we were all very civil) in the best case.
I would put in a standing offer of $5K and ask for first right of refusal on the best real offer to buy the car the estate gets + $100. The Executor will be bound to do the best thing financially for the estate, so if you beat the offer, they should have no problem taking it.
Best of luck, but unfortunately, there's only one of these that was owned by your wife's dad.
Race Director
Joined: Jul 2015
Posts: 13,082
Likes: 3,398
From: SW Florida.
definately not an L82. nobody takes off those finned aluminum valve covers and replaces them with 50 buck Mr Gasket or whoever chrome. the one advantage you have is the 20% discount. whatever price you offer you really only have to pay 4/5ths of that amount. 10k will cost you 8. so tell them you will go 7500 and give them 1500 each. it is a solid body. and spousal unit wants it. it is worth 6k to you. you also know it's history. not just what the seller says about always stored indoors, etc. you know it to be the case.
Drifting
Joined: May 2022
Posts: 1,410
Likes: 572
From: CA & ID
2023 C3 of the Year Finalist - Unmodified
Agreed with the suggestions to get a 3rd party appraisal.
I know the reviews online are fairly mixed, but the Gateway classic cars chain has a local showroom, I believe. I think they have all of their cars on consignment. If the siblings agree to have Gateway (or some other classic car dealer) come out and tell you what they’d pay for the car (or, if a consignment, how much they’d list it for, and what % you’d net) for it, that would be a reality check. It would have to be a classic car dealer that the siblings would listen to for valuation, not necessarily one you’d actually buy a car from.
I think for most people, $5k sounds too low for a classic Corvette, unless it’s a rusted hulk sitting in a field. They may very well believe it’s a $20k car, which may explain their behavior. Everyone here, of course, has a very realistic eye as to what it would actually cost to get it running. Just the cost of painting it alone is super high. I think a quality C3 paint job in my neck of the woods is $10k. So, find a local expert the siblings would listen to, and have that mechanic or dealer convey the news to them.
Good luck!
I know the reviews online are fairly mixed, but the Gateway classic cars chain has a local showroom, I believe. I think they have all of their cars on consignment. If the siblings agree to have Gateway (or some other classic car dealer) come out and tell you what they’d pay for the car (or, if a consignment, how much they’d list it for, and what % you’d net) for it, that would be a reality check. It would have to be a classic car dealer that the siblings would listen to for valuation, not necessarily one you’d actually buy a car from.
I think for most people, $5k sounds too low for a classic Corvette, unless it’s a rusted hulk sitting in a field. They may very well believe it’s a $20k car, which may explain their behavior. Everyone here, of course, has a very realistic eye as to what it would actually cost to get it running. Just the cost of painting it alone is super high. I think a quality C3 paint job in my neck of the woods is $10k. So, find a local expert the siblings would listen to, and have that mechanic or dealer convey the news to them.
Good luck!
Last edited by Coronette; Aug 16, 2022 at 03:16 PM.
Thread Starter
Intermediate
Joined: Apr 2009
Posts: 40
Likes: 14
From: Dallas TX
Thanks again for all the feedback. We were able to get a professional out who has bought and sold hundreds of C2s and C3s, and he was on the same page as everyone here. He told the family that if someone were to offer 5k that it would be fair, and they should take it. I'm giving it a little time to settle before I offer them the 5k (1k each in the end). With any luck, I'll be a regular here as the rebuild starts.
Team Owner
Joined: Oct 2004
Posts: 81,241
Likes: 3,062
From: altered state
St. Jude Donor '05
You are doing them a favor offering 5k for it
give us a link to their FS ad and let us help you out.
We all like vettes but come on its an old Chevy thats probably gonna need everything and its not cheap fixing these up.
They need to understand those arent in demand, collector cars and carbureted engines are usually pretty tired around that mileage.
Not sure where these 10, 20, 30k numbers from but get off the crack guys lol.
Ive had 2 members pm me with theirs one a 78 the other 79 for under 10k they were very clean drivers one a 4 spd.
If your family gets butthurt cause they already got a bunch $ spent in their head too bad. Seriously I think offering them 5k ie very generous.
give us a link to their FS ad and let us help you out.
We all like vettes but come on its an old Chevy thats probably gonna need everything and its not cheap fixing these up.
They need to understand those arent in demand, collector cars and carbureted engines are usually pretty tired around that mileage.
Not sure where these 10, 20, 30k numbers from but get off the crack guys lol.
Ive had 2 members pm me with theirs one a 78 the other 79 for under 10k they were very clean drivers one a 4 spd.
If your family gets butthurt cause they already got a bunch $ spent in their head too bad. Seriously I think offering them 5k ie very generous.
Last edited by cv67; Aug 17, 2022 at 05:56 PM.
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Team Owner
Joined: Oct 2004
Posts: 81,241
Likes: 3,062
From: altered state
St. Jude Donor '05
Unless i misread that car may not be an L82?
If it isnt (and it will ruffle feathers) id be thinking more like 2500-3500 tops.
let us know the outcome....unfortunately people watch TV, these bogus reality shows, & especially craigslist.
Just cause its old doesnt mean its rare special collectible etc. Lots of "ran when parked" cars out there with gigantic price tags just fishing.
Sadly most those flippers are young and really believe they got a gem.
Love the blue interior btw
If it isnt (and it will ruffle feathers) id be thinking more like 2500-3500 tops.
let us know the outcome....unfortunately people watch TV, these bogus reality shows, & especially craigslist.
Just cause its old doesnt mean its rare special collectible etc. Lots of "ran when parked" cars out there with gigantic price tags just fishing.
Sadly most those flippers are young and really believe they got a gem.
Love the blue interior btw
Team Owner
Joined: Oct 2004
Posts: 81,241
Likes: 3,062
From: altered state
St. Jude Donor '05
Sad when people go nuts $$ over someones death
OP just hold firm..if they are really gonna fight you on it give them the car take your share and go buy a nice one if your wife can do that
Those cars are still affordable in nice shape. Turn key and go.
Inform them collectible vettes stopped around 70 or so regardless of what CL or TV says.
OP just hold firm..if they are really gonna fight you on it give them the car take your share and go buy a nice one if your wife can do that
Those cars are still affordable in nice shape. Turn key and go.
Inform them collectible vettes stopped around 70 or so regardless of what CL or TV says.
Race Director
Joined: Mar 2017
Posts: 11,797
Likes: 4,420
From: Virginia
Thanks again for all the feedback. We were able to get a professional out who has bought and sold hundreds of C2s and C3s, and he was on the same page as everyone here. He told the family that if someone were to offer 5k that it would be fair, and they should take it. I'm giving it a little time to settle before I offer them the 5k (1k each in the end). With any luck, I'll be a regular here as the rebuild starts.
Sorry for your loss, but good luck with the purchase! Please update this thread when you get the car, and add a link to your rebuild thread. I am looking forward to reading it.
4th Gear
Joined: Jun 2018
Posts: 4
Likes: 0
From: Covington, TN
I've been in your situation except it was a house that was involved.
One of the siblings wanted the others to just give him the house. Needless to say that the other siblings disagreed.
It caused so many troubles that the one sibling did not speak to the remaining ones for about 2 years.
I really hope that doesn't happen to your wife.
Be VERY careful dealing with family.
On another subject, I bought a 78 for $3700 that had been sitting for 17 years thinking I could fix it cheaply. I now have over $35000 in it (not counting my labor and there has been a bunch of that). I know, I'm stupid.
When I first started my wife said when it was finished she wanted the keys. Now she says "Sell it!"
One of the siblings wanted the others to just give him the house. Needless to say that the other siblings disagreed.
It caused so many troubles that the one sibling did not speak to the remaining ones for about 2 years.
I really hope that doesn't happen to your wife.
Be VERY careful dealing with family.
On another subject, I bought a 78 for $3700 that had been sitting for 17 years thinking I could fix it cheaply. I now have over $35000 in it (not counting my labor and there has been a bunch of that). I know, I'm stupid.
When I first started my wife said when it was finished she wanted the keys. Now she says "Sell it!"
Race Director
Joined: Mar 2017
Posts: 11,797
Likes: 4,420
From: Virginia
It seems that the OP bought the car and is working on it.
Perhaps we'll get an update.
https://www.corvetteforum.com/forums...arm-shaft.html
Perhaps we'll get an update.
https://www.corvetteforum.com/forums...arm-shaft.html