Carl M

Mid-life crisis hit with a vengence 12 years ago when I decided to buy a 69 Coupe. I remembered the fun of 30 years prior when in high school a friend had one and we cruised the summer away. So long story short I bought a barn car in need of repair. It was a 350/350 4-sp. It ran and the body/frame was excellent but mice had been living among the wires and chewing things up. Someone had painted it a yucky brown beige 2 tone to match the brown interior. It had side pipes.

I took it to a local Corvette only garage for full body off resto. Had I done what I originally planned I wouldn't be writing this post. Instead, after first completely restoring the engine/tranny/driveshaft the technician said "you have a decision to make". Being a newbie Corvette owner I put a lot of faith in what the "expert" was saying. He said if I wanted to convert to a big block he needed to know pronto. I remember the 427 from my youth and decided what the hell. Bad decision.

The car turned out amazing. Perfect in every detail except one. The moment it went from original to modified it would be a financial nightmare. Original rebuilt engine sold, the original drive train/tranny ditto. In it's place went a 502 crate engine and NOS drive train. Tranny re-geared to M22 specs. New tri-power carbs, fan, lines, connections and do-dads. NOS rally wheels, interior, dual fan radiator, AC, red line tires and 427 hood. Oh, and Headman headers...why I'll never know. Basically I created a beautiful monster that took a full 11 years to do and pay for but now I'm afraid to drive. Ear splittingly loud, a silver gray paint job to die for that I don't want to get a chip in. I had it flat bedded by a special tow operator to my garage in November and I haven't turned it on since. The garage installed a battery cut off which took it off line and I haven't started it since. All in I have over $160k sunk in and don't know what to do. From the outside it's a museum piece. From the inside it looks sweet as hell. Wake it up and the house shakes. I have it insured by Haggerty for full cost. But I'd love to sell but not "give" it away if you know what I mean. I've gotten all kinds of advice from taking it to Carlisle to not taking it there. To putting it in Mecom and not doing so. Put yourself in my shoes. What would you do to sell it? Help.

Thanks.
Carl M.

Alan 71

Hi Carl,
Welcome!
First Post!
A dilemma!
Perhaps you might consider putting an exhaust system on it that won't 'split your ears', and beginning to drive it?
You're going to lose lots of money when it goes to a new owner, so why not enjoy it for a while?
No, it won't be as perfect as it is now when you sell it, but you'll have had some pleasure from it which might help you feel better about the monetary loss.
It may even become something you'll want to keep!
Regards,
Alan

OldCarBum

It's nothing to see a top notch hot rod sell for over $100,000.00. A 41 *****'s, 32 Ford, 70 SS Chevelle, BB, cowl induction, and from what I've seen Alan71's Corvette here on the forum, can easily bring major dollars on the market. But, these are perfect cars, trailer Kings and not the queens you see trailered to the average weekend car show. If you want to sell it ask a ridiculous price and see if it sells. You may loose your shorts on the deal, but you learned a valuable lesson and can move on. Heck, take it for a spin. That's what you built it for. Maybe it will be everything you dreamed of and decide to keep it. Good luck, and post some pictures of the beast.

540 vette

Probably 100 k of that is labor. I have a 72 that is having the same thing done to it. I bought a ZZ502 an M22 and everything in and on the car will be new. I will paint it myself over the winter. I figure I will have 60k in the car when done. Labor makes the difference.

gungatim

sell it for 15 cents on the dollar and chalk it up to a learning experience. an expensive one, but YOLO...

Kevova

You could try Barrett Jackson or another serious money auction put a reserve you could live with and see what happens. take in to account there are fees that are deducted if it sells. People do pay crazy money for quality cars. You could pop it on eBay to gauge interest. Lastly you could just enjoy it.

Faster Rat

Hi Carl,
Welcome to this forum...I think. If it makes you feel any better, most (if not all) of us are upside down on our cars. Therefore this is no place for a pity party. The economy really sucks right now, at least for the average Joe. I cannot sell my pristine 1995 Harley Softail Custom nor my 2001 Newmar Mountain Aire deluxe diesel pusher motorhome...without giving either one away...and I will not do that.

The only thing I can say is that you need to expose it to the marketplace. The more targeted your market it is, the better results you will have. BJ in Scottsdale will have the largest non-average Joe audience. Many of the unknowledgeable big spenders there, or on the phone, will get drawn in by what they see...and then that competitive bidding hormone (testosterone) kicks in. I would not put it in there at no reserve though.

If you can hang on to it for another 11 years, you can probably get your money back...providing our government keeps devaluing our currency at the present rate...sooner if hyperinflation sets in. Good luck with whatever you do. I hope you drive the market up.
FR

mortgageguy

I beg of you, drive the car. That is what you bought it for. That is what it was made for. You may have made some bad decisions during restoration, but your worst one was not enjoying it. Just cruise down Main Street one night this weekend.

69Vett

no pictures, post for actual evaluation.

69monzacpe

If you need to sell it right away, you'll have to settle for not getting out of it what you put into it. As others suggested you have options to selling at auctions but there are downsides and timing to market along with venue is important. Have you had a reputable car appraiser give you a value? If you're not in a situation where you need to sell it, drive it and enjoy it. Minor chips and wear at this point won't drastically affect it's value, so take it out and put some miles on it.

cv67

1 of 2 things

-Sell the car the way it is right now

-Drive it as much as you possible can thats why you built it right?


You have insurance, if something happens get it fixed and do it again.

Had mine stored due to medical for almost 2 yrs...and see some bodywork falling apart (So much for hoping it stays nice.)
Seals dry up and leak, tires get hard, brakes get soft you know the drill.

Put 50k mi on it let the paint fade, get chips etc at least youre getting use out of it.

Youd be pretty soured if, after all that work and time you didnt get to enjoy it due to "what ifs".
At the end of the day its just a car, a material thing.

Mr D.

You have $160K in a $60K car which is why you don't do checkbook restorations on these cars unless you have the dollars to throw away.

If you have to sell it you need to decide what your max loss is going to be otherwise keep it and drive it.

vettebuyer6369

A lot of people are telling you to drive and enjoy it, and I think that's good advice. I'm also upside down in my '69, and I decided I was going to get my money out of it by driving it every chance I got, and that's been a wise choice for me.

Your number sounds astronomical, but with no photos or more detail it's hard to say how far under water you are. It's likely you will lose a significant amount on this deal, so get used to that. But, for the sake of discussion, let's say it's a great looking modified car... the best way to get closer to people paying a lot for it is at auction, I think. I go to many Mecum events nationally, and people do overpay for some customs that strike their fancy. Yes, there's expenses and fees, but if you set a drop dead minimum reserve in your head calculating all these factors, you can always walk away. Auctions, I feel, are better suited for the gut-reaction type sale that would benefit you as opposed to someone taking their time looking at an ad. I think it's the best route for what you have described.

Iceaxe

Drive the car, if it breaks just fix it. You've already taken the big hit in the pocketbook, everything from here on out is easy.

Tiger Joe

i agree take it to an auction. that gut reaction "gotta have it" sale is your best shot of getting anywhere close to what you have in it. or hope two people get into a bidding war.


But I'd be prepared to lose money on it. possibly a lot

OldCarBum

I'm beginning to think this thread is a bad posting.
There has been no further comments from the OP and where are the pics of this $160,000.00 C3?

Torqued Off

Its no surprise to me that you have that much money in it if you paid a professional shop per hour to do it. Having completed a total body off restoration and rebuild, I can tell you its lots and lots of hours of labor.

IT seems to me that the reason you want to sell the car must be because you simply don't want to own a 69 Corvette any longer. Because if the reason you are selling it is because your are ""upside down" financially, that's something I think you need to get over and just enjoy what you have. This constant fantasy that C3 Corvettes are someone valuable as a financial investment is such a sad outcome to the pleasure of owning one and being in this hobby in the first place. And I know this is my opinion, but owning one without driving it regularly really seems to me to leave out the most important part of enjoying it. If it turns out a C3 Corvette just doesn't turn you on, I guess you made the wrong decision in getting into it. It really sounds like a perception issue.

Stop worrying about getting a paint chip in it.....and if the exhaust is too load, get a quieter one, but taking a huge financial loss, which I am sure you will if you try to sell it, is only because you can't seem to find the joy of owning and driving it, which will be a real shame. The joy of owning one of these cars is out there available to anyone who has the capacity for enjoying it....its pretty simple.

Its the whole purpose of this hobby, and you seem to have missed the reason why you did this in the first place.....if I am reading your posting right. This all could change if you just get it right in your head and soul. Without that, its just a car.

Torqued Off

Why do you say he made bad decision, the car sounds like an incredible machine that many would die to own. This BS about originality is not the only definition of a great Corvette. It sounds like a great car this OP just needs to enjoy, and stop listening to others, or his own self, about why its not.

tiger hays

welcome to hotrodding

Iceaxe

The easiest way to make a small fortune hot rodding is to start with a large fortune.