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Need help pricing 1972 corvette
Hi all, I need some help on pricing a 1972 Corvette I am interested in buying .. The owner does not want to give me a price, he wants me to give him a fair offer… It is a 1972 C3 350/200hp with P/S, P/B , AC, Tilt, T tops and has a 4 speed .. Body is straight, birdcage is clean, original interior is in fair to good condition, paint is decent, has some imperfections but overall not bad… Vehicle is probably 75% original however it does not have the numbers matching motor , It has a stock Chevy 350… Car has not been driven in about five years and will need a full tuneup, tires, brakes etc.… I am not looking for a show car just a good driver !! I don’t want to insult him but I really don’t know what it is worth , although I have a rough idea .. Overall condition I would give it a 6 1/2 Any help would be appreciated… Fire away |
Imho,....
Originally Posted by Cool change
(Post 1598355726)
Hi all, I need some help on pricing a 1972 Corvette I am interested in buying .. The owner does not want to give me a price, he wants me to give him a fair offer… It is a 1972 C3 350/200hp with P/S, P/B , AC, Tilt, T tops and has a 4 speed .. Body is straight, birdcage is clean, original interior is in fair to good condition, paint is decent, has some imperfections but overall not bad… Vehicle is probably 75% original however it does not have the numbers matching motor , It has a stock Chevy 350… Car has not been driven in about five years and will need a full tuneup, tires, brakes etc.… I am not looking for a show car just a good driver !! I don’t want to insult him but I really don’t know what it is worth… Any help would be appreciated… Fire away I would try to treat the seller the way I would want to be treated as a seller. I would check ebay completed auctions for 72 Corvettes, advanced search, sold items, and numbers in green. Not perfect info but very good info. Try to find 3 or 4 examples that are similar to this one to get a sense of range of going prices. Like it or not, NOM engine knocks off maybe 25%. Also, you can take the price of a 72 Corvette in great shape with NOM engine, subtract what you would have to buy; new tires, tune up, interior and say subtract half of that cost (nobody gets full value back from improvements) and see what price this one would have to be to get in the ball park of a 72 Corvette in great shape. In real estate, you get ready to sell your house, so an appraiser or somebody gets comparables, adds or subtracts larger square footage, lot size, etc, components to get the comparables closer in similar comparison to your house. Then they show you the results and offer evidence that while you want $1M for your house, other similar houses are actually selling for $150K and that is the reality of the market. Same principal here, show the seller all of your homework and see what he says. Most people understand facts and logic, if they listen. If he wants 60K because XXX got that for a show car on TV, then walk. For a NOM coupe like you describe, my WAG is 15, or 16. Hope this helps and good luck, BTW, look carefully for killer rust which it sounds like you have done a lot already. |
Whatever you say won't be enough, keep that in mind.
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Originally Posted by Cool change
(Post 1598355726)
...The owner does not want to give me a price, he wants me to give him a fair offer…
:thumbs: |
Originally Posted by hope2
(Post 1598355904)
Whatever you say won't be enough, keep that in mind.
Originally Posted by Easy Mike
(Post 1598355973)
Pass on this one.
:thumbs: The guys fishing, when i hit ads and ask how much if the cat replies asking what i offer i reply only you know how much your xxxx us worth you tell me, But most times i see these guys who want me to name a price as cheesedicks they hope some idiot will offer them too much which many fools do, If they really were a serious seller they would name a price, Tell him to post it on ebay, thats a great wake up call on what the world will pay...:lol: |
If you can buy it around $7-8k I think that would be fair. You want to be fair to yourself and to him. That is a delicate balance. Don’t be insensitive to him, and don’t worry about insulting him, because he could choose to be insulted by whatever you offer. |
I was thinking 10k.
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Yeah I agree, most likely not realistic. Is he advertising it? Did you find it and are trying to get him to sell, if that's the case I see his point? As far as value you have a great amount of unknown variables. First doe it start and run? If it doesn't its value takes a tremendous cut. How bad is the paint? Does it need to be repainted, a very, very big expense. NOM motor a 25% reduction minimum especially since they didn't put in a upgrade. Are you capable of doing most of the work yourself? Otherwise you are going to have a lot of money into it.
As stated in these forums over and over again and I cannot stress it enough. Buy the best car you can afford, don't buy a car, even if its cheap, that you will need to rebuild, especially if your not doing it yourserlf.!!! Hate to say it but I would low ball it no matter what to force him to give you a number and negotiate from there. Not the normal way I like to do business but since he won't give you a number?!??? Ike. |
Originally Posted by Cool change
(Post 1598355726)
Hi all, I need some help on pricing a 1972 Corvette I am interested in buying .. The owner does not want to give me a price, he wants me to give him a fair offer… It is a 1972 C3 350/200hp with P/S, P/B , AC, Tilt, T tops and has a 4 speed .. Body is straight, birdcage is clean, original interior is in fair to good condition, paint is decent, has some imperfections but overall not bad… Vehicle is probably 75% original however it does not have the numbers matching motor , It has a stock Chevy 350… Car has not been driven in about five years and will need a full tuneup, tires, brakes etc.… I am not looking for a show car just a good driver !! I don’t want to insult him but I really don’t know what it is worth , although I have a rough idea .. Overall condition I would give it a 6 1/2 Any help would be appreciated… Fire away
Originally Posted by 20mercury
(Post 1598355875)
IMHO,
I would try to treat the seller the way I would want to be treated as a seller. I would check ebay completed auctions for 72 Corvettes, advanced search, sold items, and numbers in green. Not perfect info but very good info. Try to find 3 or 4 examples that are similar to this one to get a sense of range of going prices. Like it or not, NOM engine knocks off maybe 25%. Also, you can take the price of a 72 Corvette in great shape with NOM engine, subtract what you would have to buy; new tires, tune up, interior and say subtract half of that cost (nobody gets full value back from improvements) and see what price this one would have to be to get in the ball park of a 72 Corvette in great shape. In real estate, you get ready to sell your house, so an appraiser or somebody gets comparables, adds or subtracts larger square footage, lot size, etc, components to get the comparables closer in similar comparison to your house. Then they show you the results and offer evidence that while you want $1M for your house, other similar houses are actually selling for $150K and that is the reality of the market. Same principal here, show the seller all of your homework and see what he says. Most people understand facts and logic, if they listen. If he wants 60K because XXX got that for a show car on TV, then walk. For a NOM coupe like you describe, my WAG is 15, or 16. Hope this helps and good luck, BTW, look carefully for killer rust which it sounds like you have done a lot already. |
Originally Posted by Easy Mike
(Post 1598355973)
Pass on this one.
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Too many cars out there to screw around with a guy like this. Tell him when he figures out what he wants to give you a call. For now take a pass. Also tell him you are looking at a few others. If he is serious about selling he will come up with a price. From your description and without photos, I would guess $10-12K. |
Originally Posted by Cool change
(Post 1598356236)
thank u For your input … When you say minus 25% for a nom , Would that be off that realistic price of what it’s worth |
Originally Posted by blue67ragtop
(Post 1598356297)
Too many cars out there to screw around with a guy like this. Tell him when he figures out what he wants to give you a call. For now take a pass. Also tell him you are looking at a few others. If he is serious about selling he will come up with a price. From your description and without photos, I would guess $10-12K. You could easily have 3-4k in this car before you even drive it........10k is a "fair" offer. Jebby |
don't buy a car, even if its cheap, that you will need to rebuild, unless of course you are a true gearhead who enjoys building and driving cars. I would bet a big gulp if you lowball a person who is fishing for offers 99.9% of the time they will get pissed and not give you much if any more attention, most will just cuss you out. I will bet a second big gulp 99.9% if fishers believe what ever they are selling is worth many times the realistic going rate. |
You pay $10,000, put $5,000 in it to get it right with no $ for your labor. You then will have a car you could get $12,000 for. If he is not a friend don't be afraid to hurt his feelings. Mark |
Originally Posted by Syl1953
(Post 1598357008)
You pay $10,000, put $5,000 in it to get it right with no $ for your labor. You then will have a car you could get $12,000 for. If he is not a friend don't be afraid to hurt his feelings. Mark :lurk: |
Originally Posted by hope2
(Post 1598355904)
Whatever you say won't be enough, keep that in mind.
|
Originally Posted by hope2
(Post 1598355904)
Whatever you say won't be enough, keep that in mind.
Originally Posted by The13Bats
(Post 1598356023)
:iagree:
The guys fishing, when i hit ads and ask how much if the cat replies asking what i offer i reply only you know how much your xxxx us worth you tell me, But most times i see these guys who want me to name a price as cheesedicks they hope some idiot will offer them too much which many fools do, If they really were a serious seller they would name a price, Tell him to post it on ebay, thats a great wake up call on what the world will pay...:lol: |
Originally Posted by 62corvette
(Post 1598356103)
If you can buy it around $7-8k I think that would be fair. You want to be fair to yourself and to him. That is a delicate balance. Don’t be insensitive to him, and don’t worry about insulting him, because he could choose to be insulted by whatever you offer. |
Originally Posted by Cool change
(Post 1598357661)
I am just a little confused because I see a lot of the same cars asking for 20 to 22K The car you described gives limited info and no pictures, Assuming it doesnt have bad rust issues about 5 to 8 is fair for a base coupe needing restoration and it does need restoration, Im not saying sometimes such a car is made to run and drive only fixing what it takes but to be up to par it needs to be restored, |
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