Pompous_Vette

First and foremost thanks for helping.

So, just recently I began the thought of purchasing a C3 style corvette as this is my generation of vettes that I have fond memories of and the desire of always wanting one. Now that I am middle aged and financially capable of handling this project I feel it is time to pull the trigger. I have been reading as much as possible on-line to help my knowledge base on the C3 generation and narrowed my search down to the 1968-1974 years. I have done so due to the fact that I want a big Block 454 and the 74 was the last year of production of the Big Block. So, at this stage this is where I need any and all professional options...

After weeks of searching on-line for the right car I think I may have found what it is I am looking for... BUT what is a good price to pay is the question...

Here is what I am looking at: 1974 SL4 with matching numbers, 454 Big block 400 tranny, body is in good condition as I cannot note any significant rust issues. The plates match up and appears to be all original within reason with my comprehension. The current paint is 7/10 but not the original color... The original color was Classic White but now Yellow. That is if I understand the plate right , it has the code Color as 10L. The car is in driving condition and has modified 4 to 1 side pipes.

The color is not a deal breaker within reason as I was looking for a white car anyway but this would require me to eventually do an all over color change again and I want to do it right so this would obviously cost more to do.

As I understand it the max value of this particular car in mint condition is around (give or take) 32K

Excellent condition Mid 20's

Good Condition low teens

and fair condition 5-8K


Now to the meat of this storied question

The bottom price he will take is 10k. I figured to get it into Excellent condition (including a color change back to white) will cost me an additional 10-15k... putting me at value for the car with maybe a few thousand in equity at best... (we all want a great deal right?) Therefore my question: is this car based on what I told you worth 10K or should I try to get for less. Is this a collectable car or is the L82 350 a better buy? Am I putting to much stock into the 454? Are there other things I should be looking for into buying a C3 model?

The idea is to keep the car for life or until an unfortunate crisis may arrive. Yes, I get that the price may not matter in this case if I want to keep it and not re-sale it but I want to get your opinion on my thought process about the car.. I have never researched, restored or even purchased a classic car before and my opinion is a very bias one as I have a lot of knowledge deficits to this model, but I am learning...

I need to make a decision soon so please drop your comments for me and again thanks for your time and expertise in this matter....


A. Buy and don't look back

B. Try and drop it a few grand if not forget it

C. Just now stop and continue my search elsewhere

D. I am just thinking to much about nothing, go with my gut, you won't lose regardless.

Thanks

20mercury

My 2 cents:
-10k for an original 74 is a decent price if no or just surface rust and it runs and drives reasonably well.
-I know you plan to keep it forever, but I believe it is prudent to not get too bad upside down with your purchase. So, you can not paint a 74 and get your money back, even if a big block, and not be upside downside 8 to 10K. Of course everyone chooses as they desire.
-I do not believe the 32K value in excellent condition based on what I see on completed ebay sales(sold prices in green numbers) or overpriced Mecum either for that matter.
-I like to shop on line too, but IMHO, it is good to go look at a half dozen in person and I find I learn something everyday. Bringing a mechanically knowledgeable person with you would be smart too.
-This sounds like a fun driver if you like yellow. If you really want white, I would keep looking.

Hope this helps and half the fun is the "hunt" I say! Congratulations too on being in a place where you can get a C3 now, you will not regret it!

Pompous_Vette

Thanks for your opinion, will follow.... thanks a million.

Rescue Rogers

The best advice I received was buy the best you can afford, and shop for what you want. I wanted a chrome bumper car and I started in the 10k range and actually bought at 19k. Well worth it. I put in less than 3 k to make it a solid driver where all equipment and accessories worked. since then any work was to improve performance or upgrade parts I wanted, nothing that needed to be done. good luck and post pics, it will get better feedback

ntfday

Unless you can do a lot of the work yourself, I'd keep looking. A reasonable repaint, removing ALL exterior trim, will be at least $5000 so take it from there. Keep in mind that everything on or for a Vette is expensive. Good luck on your quest.

jkippin

personally I would keep looking.

Syl1953

vettebuyer6369

derekderek

You are about 10k high on values when nice. Few ever go much over 20k. Spend a little more. Get a chrome bumper car

joewill

a 74 with original 454 is easily worth 10K... rust will kill any chance of a good price at resell time..so do your homework. don't ever say you will keep it for life.. it is a car with a value and that value is part of your estate. so you should have a goal of not losing that value or trying to make that value grow.
a 74 with a 454 will probably have an appreciation curve similar to most other 454 corvettes so I would not say it is a bad investment. it is just a lesser investment than the more rare cars with wanted options.
you just have to buy in at the right price..
I always say i would pay several grand more for a car i don't have to paint.
he hit you would take to have someone else paint your car is mostly unrecoverable.


less than 10% of 74's had the big block.

Pompous_Vette

So far all excellent points and thanks for posting them. Let me clarify some questions to help this situation.

Although I am a Medical Professional for the past 25 years my working career did start as an Auto Body Repair Man. I worked on cars with my dad for years prior to graduating High School. Mostly Mid level Muscle cars. Once I graduated High School I completed a two year program and became certified In the profession of Body repair and Paint. I worked in the field for another 4 years which included a dealership and I interned for one year at a local Restoration shop in my home town before deciding to get in to the Medical profession with I did. Therefore, outside of tinkering around with the auto world I pretty much have been out of the game for 25 years now. I always have an eye for good and crappy workmanship and I can hold my own in noting past damages which includes frame. I have my eyes on the all aspects a car including seams and gaps. Now, I said all that not to say I am an expert but very aware of things the average on looker may not notice.
I have never put myself in the Corvette world as this was kinda outside my financial range until now as my Kids are up and out and My wife and I are empty nesters. I grew up in the years when the C3 's were running the streets and I have always like this body style although I like the earlier models just as much but the price range is pretty high and hard to find reasonably priced.
My goal is a C3 with chrome bumpers 68-72 (73). I felt that the Big Block would have been more a game changer since they were eliminated post 74 but I starting to think this is incorrect based on some advice given. I don't mind a 350ci as this actually opens the field of choices for me. Now, my question would be if less than 3900 were produced with a 454 in 74 would this not be a positive thing? There were over 39000 produced all together in 74 (I believe setting a production record until that point). So, only 1 in 10 had the 454. Anyway, I appreciate all you have to offer in experience as I want to buy something that I can make others envious and turn heads.
Now, as I have read other countries are buying up the Corvettes and keeping them in their countries. With the combination of that plus auto accidents, poor care of the vehicles Corvettes are becoming less and less here in the US. Could this eventually make the Rubber bumper C3 more valuable in the future? Just a thought.

I was planning to educate myself to restore the car myself with the help of Books, Experts and you guys.... LOL
I loved working on cars as an adolescent and young man and I still have the desire to pick this up as a serious hobby.
At this point I will keep looking and I by chance he comes back with a lower offer I may go ahead and bite. But until them any advice on were to hunt for C3 pre-74? I can travel any where if need be...
Thanks

Pompous_Vette

Thnaks
Yes according to my research they are less than 10% in 74. This is why I want to get quick info on its rareness and possible value. As far as repainting: I have a solid back ground in Auto Body Repair and I could paint it myself as well but I know to many people who own shops that have better access day to day experience to spray it right the first time.I feel the beauty of a project is doing as much as you can yourself. So do you feel a 350ci is a better buy? There were so many produced, not to say it was not a good engine but more common.

vettebuyer6369

Pompous_Vette

The pictures online does not tell the story well. I have none in person. The car appeared rather clean as it is a daily driver. The motor runs and sounds strong. As mentioned it has matching numbers a 454ci with a 4 speed manual 400 tranny. The interior is 7/10 with no tears in the seats or dash The code plate and current interior match. The carpet is complete with just normal wear and tear. Has original rims with solid set of tires. Has 4 to 1 side pipes and it makes the car sound mean as hell. Could not find any rust outs and the body was striaght. Does have power steering. Has AC compressor and accessories but not working. Owner claims the previous owner he purchsed from use to show the car at times so if this is true it was well cared for for some time. The only thing i dont understand on the car is the console plate that veries the 454ci but it said it has 9.0:1 compression Ratio but I could not verify anything on-line to say this is correct. All spec site say the 454 1974 model came with 8.1:1 compression ratio. Only the L82 350ci had the 9.0:1... but the console plate states this....

Pompous_Vette

Not to be misunderstood, but I was in search of any from 74 and earlier as the 74 was the last production year for the 454. Now, with that said as i am learning, it looks as if the more favored and popular choice is the 350. As i understood the 350 came in two different grades the L82 and L48. The L48 with less power than that of the L82. So this is confusing on which to hunt. Both or just the L82.

derekderek

Doing a BBC conversion on a small block 72-earlier is quite doable. No welder or glasswork required. And unless it is a numbers-matching car with something above the base engine, you won't be devaluing it by up-gunning it. North Carolina. Go find and meet DUB. He may know of something good nearby. Oh. 4-speed car. Not auto.

Pompous_Vette

Thanks for suggestion but who is DUB?

jkippin

probably one of the most knowledgeable people on the site. We have many but DUB is in this every day. He has a lot of Knowledge to share sometimes he can come across a bit harsh but its all in the keyboard...

Pompous_Vette

oh i see thats his ID name.... sorry now i understand... thanks

cv67

These cars arent investments, although a 74 maybe be uncommon it isnt a collector.
If it was in the condition you say Id grab it for 10 quick. Most in that range probably dont even run!

So if you go a few thou upside down which most do so what if it nets you the car and the fun youre after thats what its all about.
If hes firm on 10 just pay it and move on not like hes asking a ton