56-57 Value

[Mark P.]

Before I start this, I appologize for the length of this post....and I have always been critical of those who have asked the value of cars on this post before...knowing that it is such a question with so many variables that it's crazy to expect a decent answer. I have been given so much good info on this site in the past years, I just had to ask. Having said that, here I am asking the same thing I said I would never do. Here goes:

I have the opportunity to purchase either a 56 or a 57, both with all original parts but without the original engines. They do both have correct engines (in good shape), the 56 with the 265 225hp manual trans and the 57 with the 283 220hp manual trans. Both bodies been stripped of paint and the body is off of the 57, the frame for the 57 is not the original frame, but is a good original frame. Again, all other parts are original and the cars are very complete. The 56 was cascade green, and the 57 was white. Both are top delete cars, but he has a 57 hard top in great shape that he will include with either car. They have been in storage without being molested for 20 years.

Being a C2 guy, but always wanting a C1, I'm in dangerous territory here. I may have a pretty good opportunity here, but want to make a good decision. The guy is a very reputable classy individual that is getting older and can't complete the restorations himself and is willing to sell one (and only one...I asked him). I'm the only one he has told and I'm going over tomorrow to take a very close look and perhaps see what he wants and make an offer.

From what I have seen, (the latest edition of Corvette Magazine) they value a 56 needing TLC at $36,000 and a 57 TLC at $38,000. I'm no genius, but that tells me that these are below that level, but in reality, he may ask for that. Not sure at this point. I know he has found another frame for the 57 for $5,000 and doesn't want to spend that much because he "didn't spend that much for the car in the first place." Yeah, I know. Anyway, no prices have been discussed yet. Tomorrow is the day.

In your honest opinions, what would the range be on either of these cars knowing what I know? I know, not much info, but that's all I have. Just a range is all I'm looking for. Also, it would be important to know what other key questions I might want to ask. I'm not in a terrible hurry, but I don't want to wait too long and have him change his mind or let others in on the process.

I would very much appreciate any advice you could give.

Thanks,
Mark

[Brett H.]

Re: 56-57 Value

Hi Mark. Without seeing the cars and anuy obvious repairs to the body, I have to say that the 57 may be worth more in the long run but.....to me, vin numbers are also important. A low vin 56 may be worth more to me than a later 57 with no high horsepower. Also, it depends on how many "usable" parts are there with eiher car. It's no good to get a bunch of parts that cannot be used. Parts of any kind are valuable to someone, of ocurse, but you need parts that you can use instead of having to buy.

For either car, $20k and up, depending on what you are getting. Make sure the frame is good on whatever car you are getting.

Also, before you purchase either one, my advice would be to have the vin numbers ran by a police rep on the NCIC. This will tell you if either car has ever been put on the Hot List,(stolen). You don't have to tell the seller you are doing this, as it may offend him. But it gives you piece of mind before you hand over cash.

I hope this helps. I'm sure others will weigh in for you with good advice as well.

Regards,
Brett

[Roy B.]

Re: 56-57 Value

I'v read this question many times by others , it all comes down to what YOU really wont and how much YOU think it's worth to YOU, if you see and like it , what ever the price and you feel good about it then go for it . If it feels not so good then just walk. It's the same with anything YOU buy! It's like deciding on a TV. That's my answer to any one asking me. Because I don't know their situation or thinking .Simple.

[Mark P.]

Re: 56-57 Value

Brett,

I've seen the cars and the parts and they are in good, usable condition...most of them are in excellent shape. That's why I'm interested in the cars in the first place, on top of it all the guy is very reputable owner of many cars in his private collection. I will check the vin numbers...that's always a good idea. As far as VIN numbers are concerned, the 56 is one of the last cars of the year...within 30 of the end. The 57 is in the first 1000 cars of the new model year. FYI, the frames are both in good condition.

Again, I wasn't looking for exact numbers, but just an idea. I appreciate the help/advice. Per Roy's post, I realize that it really does have to do with what I want to pay and nobody else, but it sure doesn't hurt to have another few opinions out there to mull over when I'm not the expert on these particular cars. I do have a good idea on what I would pay for any given C2, but I'm just not as familiar with the early cars. I have an idea, but just wanted a little backup. Still interested in other opinions!

Many thanks,
Mark

[Mike M.]

Re: 56-57 Value

I would look at it this way others may not. If the car was restored what would you pay for it. Try and come up with a rough amount to finish the car from the state it is in now. Add at least 30%. Now subtract that from the finished priced you had come up with. That would be a rough figure to go by. He would probly want more then that figure. Most people would.

[Don S.]

Re: 56-57 Value

It sounds like he would want about the same for each car. (Maybe less for the 57) My vote would be for the 56 because of the color. Personal opinion-- but the cascade green in my view is beautiful. White does not turn a lot of people on.
Value is subjective. 20-25 whatever. If it is what you want a couple of thousand one way or the other in the long term means diddly. (we are only here once.) Just my 2 cents. pay whatever and don't look back.

[Mark P.]

Re: 56-57 Value

Don,

Good advice. I finalized the deal yesterday and bought the 56 because of what? The color. I also love the look of a 56 in cascade green. I got a great deal and was very fairly treated by a great guy. That's the way it ought to be. This will be a beautiful car when it's done and I'm extremely excited about the project. Especially since it will be my first C1. I've always loved them (especially 56-57), but there are so few around, it has always been a dream I never thought would be fulfilled. My 66 is just about done...just a bit of tinkering and it will be, so I need another project to keep me out of trouble. So says my wife anyway.

FYI, the more I looked at it the 57 was a bit more of a Frankenstein, with a 58 frame in poor shape, a 59 diff, fire damage under the hood, etc..... It was a no-brainer when it was all said and done. Everybody ended up happy on this one, that's for sure. Me, in particular!

Thanks to everyone for the advice. Now I will be posting in the future with questions on the 56, so more to come.

Thanks again,
Mark

[Mike M.]

Re: 56-57 Value

welcome to the 56-7 camp. lot of knowledgable fellas hang out on this tdb. just ask and good luck with yer 56. mike