How to estimate vehicle value?

[John R.]

How does one go about determining the value of their project car?

I am... reluctantly considering selling my 1969, I just have too many projects / hobbies and I'm not getting to it, I hate to see it continue to sit around.

General information:

Mostly original
1969 Hard Top Convertible (I have the soft top as well)
Less than 40,000 original miles
390HP / 427 cu in
Fathom Green Exterior
Green Vinyl Interior
Factory A/C
AM/FM Pushbutton Radio
Positraction 308 rear end
4 Speed Manual
Soft Tint Ray Glass
Power Searing

I am the 2nd owner, my Dad was the first. The car was in an accident in 1981 and has not been completely restored since; was hit at an angle on the right front. A new front body clip was installed in 1981 and not much else has been done since. I believe (but not certain) the fiberglass is GM replacement. It has set since then, the interior is shot and needs to be redone as it is pretty dry rotted. Lots of TLC and clean up needed, and obviously a paint job, anything rubber needs to be replaced. Engine / trans has NEVER been out of the car.

What I know is not original:
Rims / Tires (I have the factory trim rings and center caps and two of the original rims)
Radiator
Distributor (but I do have the original one to go with it).
Dealer installed luggage rack

Supporting documentation:
I DO NOT have the tank sheet / label
What I do have:
Corvette Order Copy
Protect-O-Plate still attached to warranty card
Owners Manual
Radio Operating Instructions
Wheel Trim Ring Instruction Sheet
Guide to the new GM Ignition Lock System
Headlamp washer instruction tag
Most all of the DMV registration slips (car has not been registered since 1981)

[Gary H.]

Re: How to estimate vehicle value?

You have a pretty rare car. It took me over 2 years to find a 427 4 speed convertible with factory AC. From someone replay to my post a few weeks ago inquiring about how many cars were produced with these options it seems like roughly 5% of the cars in 67 when detailed info is known left the factory with a 427 (390 or 400) 4 speed (M20,M21 or M22) and C60 factory AC. The same trends can be used to try to get an idea for the 68 and 69 model years as the consumer trends were probably similar. AC was a very expensive option for 68/69 and most 427 cars with AC were likely automatics.

I would say that nicely restored (body off if needed) with no body issues and totally running properly with matching components your car is worth $45-55k.

It will likely require 12-15k of paint and body work.

It will likely require a 6-8k engine rebuild.

Transmission rebuild? Rear End?

The interior will cost between 2000-2500 depending on what needs to be replaced...seats, carpets, panels, etc.

Suspension work and brakes will probably be somewhere around $5k.

Hundreds of hours of labor will also be needed to get it to this point.

You probably have a project car worth about 10-15k depending on the quality of the body repairs.

Hope this helps.

I wouldnt sell my car for $60k as it really would not be easy to replace.

[John R.]

Re: How to estimate vehicle value?

Not sure if it would help much, but here are some quick pictures:

http://www.rollfphotography.com/Galleries/Corvette/20861691_gKLzQ7

[Terry B.]

Re: How to estimate vehicle value?

Hi John,

Thanks for the pictures. I think Gary is correct with his evalution of cost of repairs. After seeing the pictures it looks like you have almost everything but getting it all to work properly and painted/restored will be costly. I didn't see what you said the condition of the frame is in. If you think of this as a Top Flight car worth 60K fully restored and subtract out what it will take to get it there, it might be worth even less than 10K.

Here is a link that I use to get a ballpark figure of value: http://www.nadaguides.com/Classic-Ca...ertible/Values

Good luck,

Terry

[Floyd B.]

Re: How to estimate vehicle value?

I also agree with Gary's assessment. Here is another source as a point of reference:

http://collectorcarmarket.com/menus/ccmprcs/69chcote.html

[Michael J.]

Re: How to estimate vehicle value?

After just having a '64 totally restored that was in a bit better condition, I would estimate that whoever buys it would have $50-$70K ahead of them to get it back to near #1 condition. So, somebody would really need to love this car to undertake that kind of money plus the cost of buying it.

[John R.]

Re: How to estimate vehicle value?

Thanks everyone for your input.

Personally I would like to keep the car and restore it... but I just don't see having any real time to work on it for a very long time. Guess I'm going to have to make some tuff decisions.

[Floyd B.]

Re: How to estimate vehicle value?

Thanks everyone for your input.

Personally I would like to keep the car and restore it... but I just don't see having any real time to work on it for a very long time. Guess I'm going to have to make some tuff decisions.

I see what you mean. A second generation original owner car with a rare (and desirable) option combination. It would be like parting with a member of the family. :-(

[Ridge K.]

Re: How to estimate vehicle value?

Interesting Corvette, John. I think the commentary here has been right square dead on, the money.

Why is the tank sticker MIA, ......if I may ask? Ridge

[John R.]

Re: How to estimate vehicle value?

Why is the tank sticker MIA, ......if I may ask? Ridge

Not sure, I was quite disappointed when I found it was missing. There are only two reasons I can think of. 1) When the dealer installed the luggage rack, maybe they dropped the tank to make it easier to install? 2) I have an old receipt where the dealer did some work and replaced the fuel pump, so maybe it had a fuel system problem and at one point the dealer dropped the tank for some reason? Other than that I have no clue.

My Dad actually bought the car brand new straight off the lot, it wasn't a special order (or it was someone's special order that fell through,not sure). The luggage rack was installed before he bought it, the fuel pump was replaced within the first year. Unfortunately my Dad passed away when I was 12, so I have no way of asking him, this is one of the reasons the car sat for so long.