61 Value ???

[Ralph B.]

Gentlemen,
I have a friend who has an opportunity to purchase a 1961 Corvette 283 / 270 HP (dual Quads) that has factory power windows and matching numbers. ----- His question is what would the average range of value be after the car is correctly restored based on a good market (void of today's ecomoic turmoil)?
This will be a great help in making his decission.
Thank you !

[Donald B.]

Re: 61 Value ???

I'm no expert so I won't even give an opinion.

But, I suspect color would be a factor - I understand that Red and Black are the most desireable colors and therefore would get the highest price.

Also, you say correctly restored - I assume you mean a Top Flight at a Regional or National event.

[Jeff G.]

Re: 61 Value ???

A good starting point might be to look on proteam.com and look at their prices. They typically have many NCRS flighted cars in their inventory although some would say that the prices might be high. I can't say one way or another since price is only relative to a potential buyer.

[Terry D.]

Re: 61 Value ???

Ralph
I think you will get better results if you do a little research on the web. Goggle the different auction sites, not Barret/Jackson, and see what they are bringing. Pick up Corvette/Chevy Trader magazine or Hemmings and look at prices there. Also Goggle "Corvette Prices".
If your friend is thinking he is going to buy an old Corvette, restore it to "Top Flight" and make money, well I have this swamp land with a bridge on it I've been trying to sell that I will let go real cheap!
Terry

[Chuck L.]

Re: 61 Value ???

Ralph, Terry's right, there are a lot of ways to research this. Corvette Enthusiast magazine always has auction results each month that also pretty well describe the condition of the vehicles sold at auction all over the country. Plus, Keith Martin's Corvette Market magazine/website has a lot of historical prices and the Mecum Auctions website will let you put in the specific car you want to search for and give you their recent auction results including listing info on the cars. B-J does the same, but keep in mind these are entertainment prices in my opinion.

[Dick G.]

Re: 61 Value ???

Assuming a nice NCRS Top Flite fresh resto.: Value IMO (+ or -)$85000.00. DG

[Jim D.]

Re: 61 Value ???

If your friend is thinking he is going to buy an old Corvette, restore it to "Top Flight" and make money, well I have this swamp land with a bridge on it I've been trying to sell that I will let go real cheap!
Terry

You would save a lot of money by getting one already finished vs. buying a project and restoring it. In your research, remember that asking price is a lot different than selling price. Typically 10-20%, but in todays market, I'd say it's 30+%. Auctions are the worst gauge of car value.

[Stewart A.]

Re: 61 Value ???

Good history also can make a difference. And a hole heap of awards can also be a price point. If I was going to buy a non hit perfect resto on a 61 I would be willing to pay 100 give or take. If it was black I'd trade my kids in on it as well.

[Don W.]

Re: 61 Value ???

Here's a good place to look:

http://www.nadaguides.com/SectionHome.aspx?LI=1-28-0-5000-502-504-50005&l=1&w=22&p=0&f=5003

[Mike M.]

Re: 61 Value ???

Unfortunately, Ralph, these are no longer cars, they have become investments.
I would suggest finding the most experienced '61 judge and take him with you (or them, even better).
Buy the best, most complete and original car that one can afford.
HaND

[John F.]

Re: 61 Value ???

Ralph, The new April 2009 edition of Corvette Magazine just came out and it has the 1953-67 Market Guide in it. Hope this helps. As they say "real estate & cars are only worth what some fool will give for them".