Hello all, I have a simple unbiased question.

I have been looking for an early C3 convertible 4 speed car.
I know cars, old cars and corvettes, I am in the automotive collision, paint and restoration business and have been for 37 years so I am NOT looking for the paint, rust, trouble area, prior hit, authentic, take a professional answers.
I spent years doing PPIs for Vipers and Cobras, this is specific to early C3 small block corvettes, I've owned over 20 corvettes, currently own a C2 and C5 but haven't been involved in C3s since the late 80s/early 90s and find the values a bit strange and spread out for the same car.

I recently looked at a 69 350/300 4 speed monaco orange 46k original documented miles car, low option car but added PS, side pipes and hard top.
the body is no hit and 9/10 paint, interior is excellent, motor is detailed (havent heard it run as there is a carb issue being handled) but i do believe the motor runs excellent... very nice tops, all around needing nothing, the underside is not what you expect from the top side, it is original patina with some scaling but absolutely solid ( I would spend allot of time on my back under this car cleaning it up and the frame could use a rust encapsulate like POR15 or SEM Rust Seal... again solid but some surface scaling.

It will cost me almost $50k to buy and get the car home, i have been looking at 68-70 verts online and a few in person, i am finding like kind and quality in the $35-$40k range all being nice original well preserved or non frame off restored, low original miles, frankly most 350hp cars and most been for sale for a while... now I want PS and side pipes so not on all the other cars but I can add PS for $1000 and factory style side pipes for about $3000-$3500. I don't mind doing this at all as I added both to my 64 in a Saturday afternoon.

This car was restored the right way, high quality paint, seat upholstery etc but again underside original patina from mid west for almost 40 years of its original owner life. The car was not sperated from the frame, all body gaps good.

I feel the price is a bit high only in comparison to others out there, lots of early C3s out there for sale all over and again please no lectures on corvette value based on condition, authentic or you having a similar car and wanting it to be worth $100k... I am NOT comparing an all correct rare NCRS car to a rusted POS with a 76 station wagon 350 motor.

Would I be out of line making a much lower offer, should I move on to another car as I can add the things I want and still be about $10k plus in the positive, with the instability out there in the economy is $50k to my door too much for a 300hp small block car? Am I getting in big block territory now?
again I am trying to get unbiased thoughts, not from someone who wants top dollar for their car or someone looking to purchase one at the moment.



Thanks in advance

 

Just my 2 cents but 50k sounds way too high for a base engine 69 even if it had the frame restored. At that price you should be in the BB range.

 

thanks and that is exactly what I started to think, at that price should I be looking big block

 

From your description, a much lower offer would make sense. Something in the 30's.
50 grand is getting into big block territory.

 

Definitely too expensive. You can make an offer, but most likely the owner will scoff at it and perhaps will even call your names.

I have seen and read this many times over, people who are unrealistic on their value of their cars. They have no understanding of the market and will not bend in anyway. I wouldn’t get your hopes up.

A few of the cars that I saw many years ago that were ridiculously overpriced are still for sale. Some of them have even increased their asking price.

But it can’t hurt to ask. Good luck, Ike.

 

Actually WELL into the BB range.

 

To all... thanks so much for the responses, I have been uncomfortable with this and feel better about the decision to perhaps move on as I have found others in the $10-$15k less expensive range, frankly I'm not afraid of spending upper $40s to $50k but maybe I should be looking big block

 

Great!

That sounds too much. I looked at many BB and there are some excellent examples to be had in that price range.

 

I can't speak to what the car might be worth but maybe I can offer some thoughts on the price with the owner.
I worked for a manufacturing company for close to 40 years. 30 of those years in domestic and international sales. Many times I sat across the desk from purchasing agents that were asking for crazy price discounts. I would just smile and say no.
So I kind of brought that to hot rod pricing. I've bought and sold a few. I've been low balled and again smiled said no and have a nice day.
When I was buying I told the seller I have cash in hand so to speak. On any hot rod I would offer at least 20% less. Some sellers will tell you to take a hike. Some sellers see this as a starting point. As I make the offer I smile and wait to see what happens. This stuff is nothing personal. Just bottom line on what the seller will live with at the end of the day.
If the car is local I show up with a trailer. Which means if we can settle on a price the car is gone today. Many wives like to have their car back in the garage!
If it's long distance I would want a PDF of the title along with a pic of the vin tag before I do anything.
Good luck.

 

Believe this or not....Hagerty's Jan.'23 values on a '69 Roadster...

L48 in #2 excellent condition..$50,300. #3 good..$29,700.
L36 in #2..$49,200. #3..$30,300.

Every big block skyrockets after the L36....but still..

 

That just hurts Hagerty’s credibility.

50 is much too high.

 

If I was spending $50K I would be looking in the C2 section, unless it's a very special C3 $50K for any C3 is way too much.

 

Thanks guys, appreciate all the feedback and just what I was thinking as well. I will continue my search, looking at one in AZ Saturday and in no rush, will be at Barrett next week as well, never registered to bid but I'm gonna look at the docket

 

You can never really use hagerty #2 or #1 for any kind of gauge to a cars value as there is little difference between the 2. Both are considered full concourse restorations where every nut and bolt is completely restored and most cannot find a flaw on the vehicle anywhere except for expert intensive scrutiny. Most restored cars are #3 condition value + or - 25% according to hagertys standards for condition.

 

Has to be a typo......no WAY is an L-48 350 worth more than a 427/390.....not on this planet.

OP...the car you are describing is a low 30k car........maybe even high 20's.....

Jebby

 

Pretty sure there wasn't an L48 in 1969 anyway.

 

Fifty K is too much for this car. You could always offer a sober price for the car to see if the seller is motivated to sell. About six months ago my friend sold a 70 350/350 vert for about $35K. It was a beautiful red on black with the original drive train. They are out there. Good luck with your search. Jerry

 

thanks Jerry... i flew to Fla to see it, i had business in Palatka and Jacksonville anyway. I considered offering $40k but dont believe hes gonna take it and no worries on my end, dont want to pay more than a car is worth by that much especially in a funky economy.
there is one here in AZ I'm looking at Suturday, 1970 vert, L46 350 and an added tremec 5 speed (also comes with original 4 speed) factory AC, tile/tele and PW, pics look very clean and might be an interesting car as I like the 5 speed.

 

The L48 is the base 350/300 HP car, which is typically worth less than the L46 350/350. The L46 came only in 4-speed, so for someone who wants a small block automatic, it has to be the 350/300.

 

just my opinion 50k too high for a small block . Maybe 30to 35k, unless it was an unmolested mint condition NCRS top flight winner ..