C1- Opinion purchase

[Michael S.]

To date, my Corvette experience has been limited to a 1967 convertible body off restoration- nearly complete.

My resto shop is selling a 1959 hardtop that needs a complete restoration. Car has been stored for 15 years. Paint has been stripped (originally white), the car has all original panels, un-hit. Straight frame, rust free with the exception of the rear cross member. Red interior. Car trunk and interior is full of original or NOS parts. NOM motor but supposedly easy to get the proper one. Appears to be a very nice original car with obvious needs, probably little to nothing hidden.

$25,000 price. I would put it in my barn for a few years and have it restored for fun, show or sale, not sure. I do know what a complete resto costs, I have one going now.

Any opinions on the price and potential collectibility ?

Thanks

[Mike M.]

Re: C1- Opinion purchase

knowing the horsepower would make evaluation more accurate. also list options. 25K for ultra straight body , rust free frame and a trunk-full of nors/nos parts isn't bad if ya gotta have a 59. not so sure its a good deal if you intend to restore then sell the old girl. mike

[Warren F.]

Re: C1- Opinion purchase

A fellow friend (new NCRS member) just purchased a '58, for $21,000.00. It has a non original engine and trans. We just acquired proper dated and stamped engine off ebay for $2,600.00. Car is white exterior/red interior with Inca silver insert, it also is hardtop only version.

[Terry D.]

Re: C1- Opinion purchase

This could be an exspensive project. A trunk and interior full of parts doesn't mean you won't be spending a bundle on missing parts. Unless you are familiar with 59's you could be missing lots of things. Should ask yourself why shop wants to sell instead of doing the job themselves? Just my 2 cents
Terry

[Larry S.]

Re: C1- Opinion purchase

Easey to figure out

What is a N.O.M car going for today,

You can go to corvette magazine price calculator and pick the options

Take your purchase price of the car subtract it from the value of the car.And that how much you have left over to restore the car with.

Normally it is always cheaper to purchase an allready restored car Then it is to restore a car.

I have found this out many a time.

Now so you understand.I restore cars because I need to burn up excess energy.If it was not for playing with my cars I may be in the nut house or jail.So for me its a distraction I understand its cheaper to purchase one complete.

I find the journey of the restoration,Hunting for parts,researching information,Working on the car,Planning the restoration ,actually transforming some thing that most people call JUNK into some thing that when complete people will admire and want.Takeing a poor old car and getting it back on the road saftley to hopefully remain on the road long after I am gone.

I am sure if you are in the final stages of a restoration you do fully understand what a restoration will cost.

Do the math It never adds up in a restorers favor.But my vote is to purchase it and bring it back to life.Dont just let it sit there.




price calculator

[Dave Suesz]

As with any restoration...

It would usually cost less to fly to CA or FL and drive a rented car for a week to look at restored cars for sale, buy a car, and have it closed trailer shipped to your home. However, as others have said, the process can be more rewarding than the end product. I have known many who spend years restoring a car, then get tired of it after just a year or two of showing it off. Sometimes sentiment is involved- a friend of mine restored a '70 Malibu SS because it looked just like the car he had in college. One time I worked as a welder in a restoration shop, replaced the frame rails, floors, torque boxes, quarter panels, fenders, outer firewalls, wheelhouses, etc. of a '65 Mustang. By the time he was done, he'd spent nearly twice the value of the car, but, you see, years earlier he had dated his wife in that car, brought their babies home from in it... You know. No other car, however $ensible, can compete with sentiment.

As to the parts, no matter how honest the seller, assume 20% of any dissasembled car is missing. Any better than that is pure luck, because people lose things without knowing it.

One of the great restorations of recent times was Glacier Girl, and one of the big advantages they had was although EVERYTHING was damaged, nothing was missing.




Glacier Girl

[Justin N.]

Re: C1- Opinion purchase

Dear Mike,
As my experience with complete restorations, 7 Rustangs and one 67 Corvette coupe, you do it because you love it! I find it quite therapeutic to pull something apart, refurbish, and put it back together again. Make damn sure its worth doing! A 59 Corvette certainly is. I have found through my Fords, it can become quite disenchanting. You pour your heart and soul into something that when finished, you'd rather light on fire and push off a cliff. My last 67 fastback Rustang had such irreparable damage I think Bubba's whole family had their hands on it. Half way through, I gave up because the thing was such a thundering sh*tbox. I sold it to some production company and its the car Tom Cruise drove in Vanilla Sky. It's no Bullitt car!
If you have the money and it's no big stretch, I'd buy it. Put it away for a while and get to it when your ready. Give Dave Sokolowsky a call for parts (310)329-5334. He's all over Hemmings. He has about four warehouses full of used parts. I see him frequently and refer all my close friends to him. His pricing is the best. My buddy Gene just bought a 59 that had been t-boned really hard on the driver door. He needed, among other things, a steering column. JD corvette had one for $1100, some guy in New York would fix his for $900 and he ended up buying one from Dave for $425. Enjoy the restoration and buy the 59!
Justin

[Michael S.]

Re: C1- Opinion purchase

All-

Thanks for your responses to date. Very helpful. I do not profess to be an expert and fully knowledgeable on restorations, but I have a sense of what I am in for- surprise wise and economically. I am doing it because I enjoy it, look forward to the outcome. Unlikely I will make money or much. I think the car is very nostalgic with great character- more so than my 1967. My 1967 is an economic embarassment but I am attached to it. For those wondering why the restorer is selling the car. He is out of space in his enclosed shop and won't keep cars outside. He has been flooded with work to boot. He was going to restore it for inventory but I mentioned I would buy it, store it and let him restore it pending a positive outcome on my 1967- which I fully expect. He thought that was a better economic proposition as he has lines on varying Vettes that he could obtain. Am I being sold a bill of goods, always possible, but I am inclined to take the chance.

Thanks again for all your input- always game for me. Spring is coming on the east coast, I really look forward to the cruise nites.