imgn tht

Could you take a driver quality C3 (68-72 preferably), apply some minor TLC (interior, paint, address mechanicals as needed) and break even on it say 4-5 years later?

Or does the expense of restoring a vehicle like this outweigh any additional value?

Assume the frame and bird cage are rust free and purchase price is under $18K. And the restoration is just to make it nicer driver quality or a bit better. Not frame off, NCRS credential. This is all hypothetical at this point, I'm just talking out loud and interested to hear thoughts from those that have C3's. Thanks.

Wee

If you can do all the work yourself and don't expect to get paid for your labor......Maybe....I think paint is the biggest expense you listed above....Leave that off the list and get lucky and I say yes you could.

Example....I bought a 72 a couple of years ago for 13,300. I now have 16,750 in it including every nut & bolt, piece of sandpaper all the way down to tax and title. I think I could get 18,000 for it no problem....In 3 more years and a lot of additional free labor it might just bring 20,000. It needs paint...If I spent the 10 grand I'm told it would take to paint it there is no way I would recoup that money in the next 3 years, it's not a 30,000 dollar car....JMO

Brian

imgn tht

Good point, I failed to mention in my original comment that I would plan to do all labor myself. Paint would have to be outsourced though, so if I'm going to pursue anything, I'd try to find one with good enough paint. On that point, these older cars have lacquer if I understand correctly. Does that preclude me from doing a paint correction with multiple step polishes to remove swirls and bring it back to life?

kingkohlmn

IMO, TLC and restoring do not go together. TLC to me means if you don't have it painted and you address the other issues (this means fixing, replacing with items that are not original or the best quality) you could make a profit in a few years. Restoring to me means you are trying to keep as close as possible to original. And this possibly encompasses some major work = $$$. Again, to me TLC has a different meaning than restoring.
Thanks Bill.

Revi

Nope

Alan 71

Hi img,
"On that point, these older cars have lacquer if I understand correctly. Does that preclude me from doing a paint correction with multiple step polishes to remove swirls and bring it back to life"

Yes the 68-72 cars originally had acrylic lacquer paint on them.
Acrylic lacquer responds very well to buffing and polishing…. but… originally the cars had VERY LITTLE exterior paint on them so it's VERY easy to rub through the paint to the primer.
This also happens because many original paint cars have been buffed and polished already during their life. So SOME paint has ALREADY been removed.
The best scenario might be a car with an old acrylic lacquer repaint on it that's had more paint put on it than what was typical for St.Louis.

I'm referring here to 'ordinary' cars, not special or rare cars…...
In my view it's the cost of an excellent paint job and the cost of re-chroming the bumpers and grills that can lead to someone having more money in a 68-72 than they can immediately recoup when selling it shortly after doing the work. The ordinary restorer can't do those 2 things so must pay someone to do an excellent job.
As the years go by IF the car is maintained well the owner MIGHT get to a break-even point…. but profit? Not likely I'm afraid.

Buy it because you like it and want to have one…not because it'll make you a $.

Regards,
Alan

imgn tht

Thanks Alan. I actually would like to have one, not just trying to flip it quickly for profit. I currently own a C5 with basic bolt on mods. I like to tinker but the C5 I am considering "done' as the only items I would likely do next are big ticket items and I couldn't do myself. In reality I have probably at least 5-7 years before I can get into a newer C6 GS, so I thought it could be nice to try a C3 that I could purchase with cash (via sale of my C5) and then use any extra to put in the TLC needed. Over the next 5-7 years I can tinker and make the C3 nicer for the next caretaker.

My thought is the C5 is only going to continue to depreciate, whereas an older model if nicely kept, could potentially appreciate in value over the upcoming years. But if I end up in a money pit with the C3, then there would have been no use in me going down that road.

Mr D.

A used Chevy makes a poor investment vehicle.

tokim

I can appreciate buying a Corvette-for any reason, especially on a Corvette Forum.
Realistically, if you have a desire to make any money flipping a car, there are better choices out there for that purpose.
Buy the Corvette because you want one because it's a Corvette, not a representation of dollars/potential profit.
I get the reasoning some people may have-"I always wanted a Corvette, I'll have some fun with it, then sell it in a couple of years for a profit", to justify the purchase (unfortunately it doesn't always work out that way).

Tiger Joe

No.


in general, vehicles are a very poor financial investment. with a C3, I would say if you bought, spent money upgrading/maintaining for a few years, and were ago to sell and walk away at net $0, that's a win in my book.

oldgto

Classic cars in general are a very poor investment plan. These are toys.... a hobby. It would be like buying golf clubs with the intent to sell then for a profit later. That`s not why you buy them. You buy them to play with, & enjoy. I would say Tiger Joe is right.... if you break EVEN.... consider that a gain!

Tampa Jerry

You can make a small fortune flipping these cars, you just have to start with a large fortune. Really, buy a car that is good as you can afford and enjoy it. Jerry

general ike

There is no way to answer the question since no one can predict the value of these cars in 4-5 years correctly. The value of any "antique" ebbs and flows with the economy, peoples desires, the age of the population with disposable income.

My thought is that you want what you could not have, afford, when you were young. Now that your older and may be financially capable of buying it there is a demand. But as we age out and the next age group comes along these demands may change.

So who knows what they will be worth?? Ike

Torqued Off

NO is the correct answer. The buyers of the cars in the future are millennials.

When the millennials are in charge,.....our cars will be banned an unnecessary machines ruining the environment, and we will all be driving electric cars, wearing sandals, riding bicycles, and living in tiny houses. As a whole, they have no interest in baby boomer interests, and in fact believe all to be detrimental to the planet's future...!

Bye bye 70's muscle cars and Harleys.

Mr D.

At some point in the near future the bottom is going to fall out of the muscle car market faster than Paris Hilton can drop her panties.

Research the Model T market.

OldCarBum

I don't think you can make money buying a classic corvette, doing a little work and selling it for a profit. If you get lucky and find that really nice all original car that has been babied by the original owner, who has to sell it cheap, then park it in a garage, dust it off occasionally, then sell it in ten years, then yes you may make a small chunk of money on your investment. The best return on buying a classic corvette, is turning the wrenches and driving them down the road without thinking about the money you've put into it. It's just money and it's just my opinion.

imgn tht

Thanks all. I think you got your points across and I appreciate the insight and fellowship. If I do decide to move forward with a C3, I'll go into it for the joy of owning a classic Vette and not for any thought of coming out ahead down the road.

imgn tht

This is a great way to think about it. Thank you.

OldCarBum

"WE" will probably have tiny houses with large garages where we will be trying to make our solar electrical cars run faster, and handle better. It's what we do and there will be no changing that. Just imagine Alan71's pristine corvette with an electric motor, red paint and original rally wheels. Very Nice!

Richard454

Spending your evenings delivering Pizza in the restored Vette is about the only way I can think of that would bring in positive cash flow...