Re: 1971 corvette convertible is worth what??

[Michael W.]

Most of us own or have direct knowledge of other cars that are not worth anywhere near what was spent on them during the restoration.

Most members also know that a car is only worth what someone will pay for it, not what was spent on it.

There's member here who once stated that the reason the NCRS is full of 'grumpy old men' is they've just found out that the car they spent $60,000 on to restore is only worth $30,000.

Your case is not usual, it's just unfortunate that you've gotten upset about it.

Respectfully,

Grumpy Old Man, NCRS idiot #29001

[Bob R.]

Re: 1971 corvette convertible is worth what??

When someone undertakes restoration of a car they will usually spend more then the car is worth. The restoration should only be undertaken with the understanding that it is a hobby and not a way to make money on the car.
We are lucky as Corvette prices have gone up substantially over the last few years. It probably costs just as much to restore a Mustang as a Corvette but what is the Mustang worth after the restoration?

[Bob R.]

Re: 1971 corvette convertible is worth what??

When someone undertakes restoration of a car they will usually spend more then the car is worth. The restoration should only be undertaken with the understanding that it is a hobby and not a way to make money on the car.
We are lucky as Corvette prices have gone up substantially over the last few years. It probably costs just as much to restore a Mustang as a Corvette but what is the Mustang worth after the restoration?

[Bill B.]

What is it worth ?

I happened to catch the original post too. It sounded to me like this individual had invested a lot of time, effort and money and he had a wonderful effort going on his restoration. Betting that the process was exciting, fun and rewarding when he first started. Any advice that I may have contributed was learned the hard way. I happen to have an 84 that looks like it is still sitting in a Chevy dealers showroom. It cost me $14k to get there doing all my own work. If I had paid labor to get there it would have cost me $30K at least or maybe more. The question at this point for me would be "what is an 84 worth"? I am prepared to get $6000 and feel lucky if I sold her! So, the term idiot fits very well in my case. I just don't like someone else calling me an idiot. Fortunately, I knew exactly what to expect when I started.

[Bill B.]

What is it worth ?

I happened to catch the original post too. It sounded to me like this individual had invested a lot of time, effort and money and he had a wonderful effort going on his restoration. Betting that the process was exciting, fun and rewarding when he first started. Any advice that I may have contributed was learned the hard way. I happen to have an 84 that looks like it is still sitting in a Chevy dealers showroom. It cost me $14k to get there doing all my own work. If I had paid labor to get there it would have cost me $30K at least or maybe more. The question at this point for me would be "what is an 84 worth"? I am prepared to get $6000 and feel lucky if I sold her! So, the term idiot fits very well in my case. I just don't like someone else calling me an idiot. Fortunately, I knew exactly what to expect when I started.

[Gary Del Piano]

Re: 1971 corvette convertible is worth what??

Thank you for your responses, but the average fairly clean 1971 corvette convertible (small block matching numbers) that runs, but is just a driver, with nothing rebuilt over the past decade, is easily sold for 18 - 20K all day long. Most non-matching numbers cars in the same condition are also sold easily for 17 - 20K. Both scenarios are cars that are only somewhat correct, and may have areas of past damage as well. None of them have NCRS potential, hence, no real investment potential.

My 1971 convertible 4spd car displays 100% original fiberglass (still showing the rivet heads popping up in the front clip and all factory bonding strips). The frame is perfect. It is 100% a never-been-hit car. All mechanical parts (including glass) have the correct numbers (VIN numbers, casting numbers, date codes matching all where applicable, rosette rivet heads on VIN plate). The car has $27,000 in restoration receipts with total rebuild of every mechanical part. Paint is the final noteworthy step needed to be done (paint is showing its age but still good for couple more years). It has obvious and true NCRS and investment potnetial. Yet, you trying to tell me that my asking price of $27,000 was too high??? So, what you are saying is that my car is worth the same as the junk examples mentioned in the first paragragh of this post? That is insanity to suggest that.

[Gary Del Piano]

Re: 1971 corvette convertible is worth what??

Thank you for your responses, but the average fairly clean 1971 corvette convertible (small block matching numbers) that runs, but is just a driver, with nothing rebuilt over the past decade, is easily sold for 18 - 20K all day long. Most non-matching numbers cars in the same condition are also sold easily for 17 - 20K. Both scenarios are cars that are only somewhat correct, and may have areas of past damage as well. None of them have NCRS potential, hence, no real investment potential.

My 1971 convertible 4spd car displays 100% original fiberglass (still showing the rivet heads popping up in the front clip and all factory bonding strips). The frame is perfect. It is 100% a never-been-hit car. All mechanical parts (including glass) have the correct numbers (VIN numbers, casting numbers, date codes matching all where applicable, rosette rivet heads on VIN plate). The car has $27,000 in restoration receipts with total rebuild of every mechanical part. Paint is the final noteworthy step needed to be done (paint is showing its age but still good for couple more years). It has obvious and true NCRS and investment potnetial. Yet, you trying to tell me that my asking price of $27,000 was too high??? So, what you are saying is that my car is worth the same as the junk examples mentioned in the first paragragh of this post? That is insanity to suggest that.

[Michael W.]

Re: 1971 corvette convertible is worth what??

The solution to this debate is finding out what you actually sell it for. If you get 27K, you'll be proven right, but you'll still qualify as a grumpy old man.

Good luck.

[Michael W.]

Re: 1971 corvette convertible is worth what??

The solution to this debate is finding out what you actually sell it for. If you get 27K, you'll be proven right, but you'll still qualify as a grumpy old man.

Good luck.

[Mike M.]

You will pay less

Most corvettes that are a non matching number cars will sell for less. They are still nice cars and there value goes up along with the top flight cars. The more top flight cars go up in value the more plan driver cars go up also. Myself if I can find a driver that needs some work for a decent price that would be my next purchase. I don't need to top flight the car. I've been there and done it once. I don't care what date is on the windshield or the block matches. Theres nothing wrong with a non-matching numbers car.

[Mike M.]

You will pay less

Most corvettes that are a non matching number cars will sell for less. They are still nice cars and there value goes up along with the top flight cars. The more top flight cars go up in value the more plan driver cars go up also. Myself if I can find a driver that needs some work for a decent price that would be my next purchase. I don't need to top flight the car. I've been there and done it once. I don't care what date is on the windshield or the block matches. Theres nothing wrong with a non-matching numbers car.

[Charles P.]

Re: 1971 corvette convertible is worth what??

Saying a car is "showing the rivet heads popping up in the front clip" is not exactly proving your case that the car is worth $27,000. An astute buyer would rather not see these blistering through the paint on the front clip of a C3 as it adds to time and expense of restoration. For a car that someone is "getting into" at 27K, it will make it that much harder to get out of without incurring a substantial loss at the time of resale. If the car is not rarity it is best passed on or purchased at a much lower price if it has such a problem. My opinion of course.

[Charles P.]

Re: 1971 corvette convertible is worth what??

Saying a car is "showing the rivet heads popping up in the front clip" is not exactly proving your case that the car is worth $27,000. An astute buyer would rather not see these blistering through the paint on the front clip of a C3 as it adds to time and expense of restoration. For a car that someone is "getting into" at 27K, it will make it that much harder to get out of without incurring a substantial loss at the time of resale. If the car is not rarity it is best passed on or purchased at a much lower price if it has such a problem. My opinion of course.