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I toying with the idea of restoring (to NCRS specs) a 1967 black on red roadster (black top) that's been sitting in my garage for the past ten years. The car, which has the orginal base engine, transmission, rear end and tank sticker, needs a good deal of work (engine rebuild, body work, paint, etc.) Its a low option car, the options being power steering, am/fm radio, tinted glass. My question is, if this car was restored to NCRS specs, what do you think it's market value price range would be? Thanks for the feedback.
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Re: C2-Restoration
I usually 'back away' from such questions because they're a matter of economics rather than technology. Plus, in this economic environment, we're dealing with the scary issue of 'futures' (get out your crystal ball and go predict the future--the car isn't restored NOW and ready to go to market)....
A car's value is dictated by what an individual seller and an individual buyer define it to be at a particular point in time and space (when will you sell it and how/where will you take it to market?). Basically, few make big money off their restoration efforts; restoration chores are done for the fun and personal satisfaction of the effort. Typically, about all one can hope for is the job is a 'backstop' against depreciation.
BUT, each year several of the Corvette magazines (if memory serves; Vette Vues and Corvette Fever) publish an annual survey of value that's based on auction results and public sales data from around the country. This would be a reasonable place to get input data for the question you pose.
Remember, the market for these cars DOES fluxuate. It times of economic uncertainty, there IS a tendency for well heeled investors to 'hedge' the stock market and shelter gains in real property (antiques, art, real estate, Etc.). And, we've seen this effect in the classic car market this year in the wake of 9/11.... -
Re: C2-Restoration
I would venture 40K.Comment
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Less than the cost of a resto-consider bow-tie 1st *NM*
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Re: C2-Restoration
Check out http://www.corvettemagazine.com/cgi-bin/calculator.asp
This is the Corvette Mike price calculator. It looks like between $38K and $48K depending upon exact condition. Color, time of year when you sell and geographic location can also affect what you receive.
Except for rare models, I don't think anyone can expect to make money off a restoration, particlularly if you place a dollar value on your time.
Any model '67 Corvette with documentation is very desirable. No matter what you end up doing with the car, you should do Ok money-wise.Comment
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Re: C2-Restoration
Thanks Mike; the Corvette Mike Value Calculator was very helpful.Comment
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