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Re: 1970 non original paint color
Greg, I don't keep up with current values on Corvettes, so I can't help with that question. On the effect of the color change, once you have established a reasonable price for the car, the seller isn't going to like it, but I would discount the price by the amount necessary to professionally repaint the car in the correct color...that's why restorers should carefully consider the impact of making a color change before its done.
In my opinion, the cost of a professional repaint must include removal of whatever interior or other parts necessary to make the color change fully invisible; i.e. a potential buyer should not be able to tell that the color was ever changed from the color code on the trim plate. The cost of a professional repaint will vary widely across the country, so there's no way I can give you a number, but I would guess that color change would end up costing him about $10K if I bought the car.
Marlboro Maroon is a nice color; if you like it, it's your decision on whether it's worth the hit if you need to resale the car soon. It's possible you will also have a buyer that likes the color, and you will skate on the value deduct. A collector or NCRS buyer will want to see the original color, and will either pass or look for a reduction in price. If you keep the car long enough, maybe appreciation will offset the deduct. -
Re: 1970 non original paint color
Greg, Chuck has a reasonable approach. If you go to anyone of the websites for Corvette values (i.e. NADA.COM) you should be able to get a feel for the value of correct car in comparable condition then back-out the cost of a paint job. I recently had my 72 repainted in lacquer. The cost was about $12,000.00.Comment
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Re: 1970 non original paint color
Thanks Chuck and Martin! I have the owner willing to accept $28/K for the car. If I add $10/K that takes the car to $38/K. From what I've seen at corvette dealers and private sellers online, a car in this condition with the original paint would run about $35/K. I guess I'm kind of hoping the rest of the restoration will offset the non original color a bit. The restoration includes: rebuilt motor, new suspension, new clutch, new weatherstripping, new carpet, seats, tires, and the detail to the engine and frame are beautiful. I don't mind the non original color as I know I can change that down the road (for a price!). Does $28/K seem real far off?
Thanks again,
GregComment
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Re: 1970 non original paint color
Greg, all restored cars have those things done. He's trying to compete in the fully restored market, but only has a partially restored car that's the wrong color. All sellers think their car is worth what a fully restored, judged Top Flight car should bring. In those cases, someone without knowledge may come along and pay them what they want, but it's going to take the seller longer to sell at desired price level (Got to wait for a schmuck, you see?.
Maybe I'm completely out of touch, but $35K-$38K for a 70 small block, even fully restored to high percentage Top Flight condition, seems way out-of-whack to me. For that car, (I said I wasn't going to do this), $28 seems like a generous price for a perfectly restored car WITH the right color paint.
You don't mention if it's a coupe or a convertible, and that is important; a convertible will bring a few thousand more. If my well-optioned base engine 70 coupe were worth $35K in perfect restored condition, I would be beside myself...I would begin thinking, "Dang, I might actually break even here some day!"; of course, that wouldn't include the time-value of the money that's been tied up in it.
In your position, I would go to my wife, or my half-a$$ed best friend, and tell them to slap me hard across the face...You are in "Corvette Fever Delirium". Decisions that I make by rationalizing away the cons, I usually live to regret. JMHO.Comment
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Re: 1970 non original paint color
What he said...although you mentioned it was a coupe.
$28k is big block/convertible money, not SB coupe in wrong color.
MAYBE $25, more like 20-22, IMO.
SteveComment
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Re: 1970 non original paint color
Fully agree....that's big block/LT-1 convertible money.Just because things are shiny doesn't mean they enhance the value of the car. Paint is EXPENSIVE. Heck, I'd lowball the heck out of it...and if you don't get it, you may have saved yourself a financial headache anyway. NEVER fall in love with a car, especially old Corvettes. Screws up the mind. Now pardon me, I gotta go see my shrink.....Comment
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Re: 1970 non original paint color
I am seeing base engine with A/C roadsters selling for more than $30,000, just good drivers, LT-1's in the $40k and up, LT-1 roadsters selling for $50k + and LT-1 A/C coupes for $55k + and A/C roadsters, the sky is the limit with one in the six figure range. The early C-3 cars are coming into their own, just as mid years started to 15 or so years ago. 1968's are a little weaker, but the group as a whole is doing right well now.Dick WhittingtonComment
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Re: 1970 non original paint color
From what you're saying, Dickie, I am out-of-touch with the market, but I can't say that really makes me unhappy...in fact, since I have AC, I'm ecstatic. (Say, you're not dreaming about selling these cars in your sleep are you? )
Now, I missed that it was a coupe, did I also miss where Greg said AC? Are you saying that $28K might not be a bad price for greg to buy a wrong-color driver?Comment
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Re: 1970 non original paint color
I recently sold a 69 Vert, L-46, m-21,correct new monza red paint, body on restored and all the things you mention being done for $34.5 K. I and the buyer figured that was a fair price! But I told him if he decides he doesn't want it any longer I will buy it back for the sale price! TomComment
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Re: 1970 non original paint color
IF the car is a stand up car other than the paint, it is not two bad a price.
Edit on LT-1 A/C car prices, one went thru Mecum at St Charles and brought $121K. I was low on the coupe prices also. Git yer pocketbooks out folks. The next '67.Dick WhittingtonComment
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Re: 1970 non original paint color
EVERYONE....thanks for the honest opinions/feedback/suggestions. I think my membership dues just paid for themselves for the rest of my life!
I'm going to talk to the owner more. I left it with him that "I had to do some research and think more about it".
Thanks again!
GregComment
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Re: 1970 non original paint color
Intersting thread but I have a question...
I know that it's understood that the cost to repaint to the correct color should be deducted from the asking price but what if the original color is the least desireable factory color? I might be wrong but I think that the blacks, reds,and silvers tend to bring more that the greens and browns.
Don't get me wrong here because I think all properly restored cars look great no matter what color they are...yes even those pink Cudas! But lets say a car was originaly one of the least liked colors(pick your color) but now the car was black which I understand is a very desireable color(at least when it was available). Would the more desireable color not offset the original color for general value in some cases? Now I realize that from a purist point that it would not be acceptable but for the average collector would it really matter?
Just a thought...what do you guys think?Comment
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Re: 1970 non original paint color
Greg -
Depends on the buyer - if he just "wants a Corvette", whether the color is original or not probably doesn't matter much if he likes it; however, if the buyer is savvy to originality and spots the non-original color, it could be a $10K negotiating chip.Comment
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