Ken99

I have been talking with this guy about buying his car and finishing the restoration.

I know it's not a 'Vette, but I have learned a lot from people on this forum and I would appreciate any feedback.

http://cgi.ebay.com/ebaymotors/Z-28-...orcev4exp=true

Knowing what I can do and what I will need to farm out, I believe that this car can be finished for around $10,000. I can buy the car for $17. Market for 69 Z's appears to be $40-60,000.

Even allowing for a few surprises, looks like it may be a decent investment.

Thoughts?

Ken

Alan 71

Hi Ken,
Almost without fail members here advise buyers to not even THINK about buying an unfinished car for it's investment potential.
Given that the Z28 market may be very strong, can you actually make this work as an investment.
What if your $10k outlay becomes $15k, and you factor in 1000 hours of your time (is that even enough?); can it be an investment? Looking at all those pictures of parts makes me think about how long it will take to restore ALL of them to a point that they belong in a $40k to $60k car.
If you want this car for you, then you might feel better about the amount of your time being given to the car.
Please realize this is just one person's thoughts... but a person who has restored a car.
Regards,
Alan

The_Dude

I don't think you can make that a $50k car for $10k. Unless you can do all of the work yourself, the body and paint alone will cost $10k for a decent job.

3JsVette

I don't want to sound rude but typing doesn't convey the tone of my words. Take a good hard look at those pictures. I am willing to go out on a limb and say there is a nightmare under that paint job. To get 60K out of a '69 Z/28 you need the car to be "real" and near perfect. That 10K will go through your fingers like water if you want this car to be a shall we say in Corvette words a top flight car. If you do all the work yourself unless it becomes your day job you are looking at a major time consuming project. At the very least you would have to inspect and catalogue all the parts that are included hoping that they are in like new condition so you can use them. Even if you want to do this car for yourself and wind up keeping it your are looking at lots of labor hours and I'm willing to guess spending a lot more money than you anticipate. Just to name a few headers, you need exhaust manifolds and an exhaust system. Where's the smog pump and pipes? How about an original (hard to find) distributor? What about date coded Ralley Wheels and correct tires? Can you see that 10K getting eatten up real quick? I can. Just think this thing throught before you make a decision based on the low buy in. Good luck if you decide to go for it.

Ken99

All good comments. My intent would be to flip it and hopefully make a few bucks. I've been through a total restoration on a 64 'vette and getting started on a 66 gto. Don't really need another one, just trying to figure out if it's too good of a deal to pass up. Unfortunately, it's not located next door and I see something different every time I look at the pics. Best to take a pass on this one. There's always another one around the corner.

3JsVette

The pictures scare me. The panel edges are very rough looking. Besides that the chips are very deep. Makes you wonder what's under the paint.

Mr turbo rotary

Run away.

tjZ06

I only gave the pics a brief scan, but the trim tag does show it as an X-code (X33 in this case) car. The Norwood X-code cars are much more valuable than the Van Nuys cars which do not carry the X-code, and therefor always leave some level of doubt as to authenticity unless you have all the original paperwork (protecto plate etc.). If you can get it for $17k and all of the rest of the numbers truly check out (block, heads, intake, carb, bellhousing, rearend).

You sound like the right type of person to actually turn a profit on this car. Take a look at what correct full #s matching X-code Z/28s are going for, take your estimate of $10k to finish it, double that, and figure you'll be $37k into the car including purchase. I wouldn't be surprised if it would be a $60k car to the right buyer complete (I didn't bother to run the trim tag numbers to see the original color combo and interior spec, the more desirable those are the more likely you'd be at 60) which is a healthy profit. Depending on how you value your own time even at a $50k sell you'd be doing okay.

EDIT: I was intrigued enough to look up the numbers on the trim tag.

It is a 713 interior, which is deluxe black with houndstooth as the seller indicated. The car was Garnet Red. It was a Z/28 (or at least that trim tag is to a Z/28) with the D80 spoiler.

-TJ

tjZ06

So did you get it? I see the auction ended early...

-TJ

Ken99

No, took a pass. Too many things didn't add up. A good friend spent over an hour talking to him. Not sure, but I think the it's been pieced together. The firewall looks like someone beat on it with a hammer, the rear axle looks like its been sitting in a field for twenty years, etc. like I said, if he was next door I would go look it over and maybe have a different opinion, but I can't get there for at least a month at best. There's always another one around the corner! Got my eyes on another 66 gto 4 speed convertible for less than $5,000 that may pan out. Bought one from new Mexico in may that is just getting started, but can't pass up a bargain!

Ken

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