There is a 72 Corvette coupe sitting on a neighbors lawn here in N.Y. for the past 28 years. The car has been unprotected and of course the paint is faded and worn and peeling off in places. This car should be comming up for sale in the future. Is a car like this worth investing in if the price is low enough?
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Re: Sitting Corvette
Yes. (My definition of low is $4.00, so yes it is worth investing in.) -
Re: Sitting Corvette
Absolutely Walter. These are the kind of cars I look for. Price is everything, considering the amount of moisture that has been under the car. Depending upon what you are looking for, (driver, NCRS, concours, etc.) you will want to make a rough estimate of the required repairs and compare them to the asking price and the market value. Unless there is something special about the car, you will find that you can easily go upside down in this kind of "restoration" unless the purchase price is low.
PaulLast edited by Paul J.; July 3, 2013, 09:09 AM.Comment
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Re: Sitting Corvette
What engine 454 or LT-1 ???Comment
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Re: Sitting Corvette
Such a car is more than likely to be suffering from severe structural rot. C3s are horrible for leakage around the windshield frame which takes out the birdcage and then main frame in severe cases.
As Paul says, it would be very easy to get upside down. '72s are no cheaper to restore than earlier cars but don't carry the same value at resale.Comment
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Re: Sitting Corvette
What Paul said X's 10.
My car sat inside a garage for 20+ years. Previous owner blew some gears in the trans and parked it. It had a solid frame / birdcage / metal in the doors / most of the original equipment was still there which is why I decided to get this car- minus the usual A.I.R., alternator, starter etc. and still, everything needed attention- EVERYTHING!! I can do most of the work and I'll be lucky to hit a break even point at a mid range of the market. A major reason is usally behind the story as to why the car was parked and sat in the first place.
Unless it is a very desirable car, you are much better off buying a car in as good a condition as possible that your budget can afford. Just my 2 centavosComment
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Re: Sitting Corvette
"for every extra dollar you spend intelligently for a quality car at the beginning of a project, you will save $10 at the end."Comment
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Re: Sitting Corvette
If your major concern is how much it will cost to restore, shop around and I'm pretty sure you'll find it's cheaper to buy one done than to restore one. However, if your intent is to restore to own, then forget about the $$ and just do it. If your intent is to restore to resell, then I'm guessing you'll lose money unless you do 95% of the work yourself......
Just my $.02......Frank
1966 Milano Maroon Roadster
2004 CE Z06Comment
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Re: Sitting Corvette
Walter, I was in a very similar situation with my '72 coupe.
It was the very first corvette I had ever ridden in when I was 16 years old! My neighbor had just bought it new from a dealer in White Plains, and gave everyone that asked, a ride in it.
For many reasons, it sat outside for more than 18 years until I persuaded him to sell it to me, I had a complete frame off restoration done and I am very "upside down" in it.
And you know what?,.... I couldn't be happier with it.
the smile on my face when I'm behind the wheel (feeling 16 again) I couldn't put a price on.
There are many places to check to see if the frame and windshield frame are solid enough. Bring someone with you who knows what to look for, and then, decide....
Good Luck, and, I hope you get it.
Regards
Roy1972 LT-1 Elkhart Green CoupeComment
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Re: Sitting Corvette
Assuming you are planning a restoration, a complete, bumper to bumper, nut and bolt restoration at a bare minimum involves about 1,600 hours, if you are skilled at what you are doing. Major repairs such as frame, birdcage, etc can add the hours up real quick. Not counting anything but normal parts such as weatherstrip, hoses, carpet seat covers, etc if you took it to a restoration shop that would do a Duntov quality restoration, you are looking at close to $100k or maybe a bit over. You can buy a finished car for way less than you can build one. I tell many people that and not many heeded my advice.
Right before I quit working on customer's cars a gentleman asked me what it would cost for me to restore his '63 FI car. I thought that I would scare him off and priced it at $100k. He left and came back in about thirty minutes with a $10k check and asked if he could get in line. I had to explain that I could not do his car and gave him several names to contact. He has somewhere North of $125k in his restoration not counting purchase price of the car.Last edited by Dick W.; July 4, 2013, 07:54 PM.Dick WhittingtonComment
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Re: Sitting Corvette
I think this thread boils down to something that is universal in life : You can do it for love, but not for money.Comment
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65 350 TI CONV 67 J56 435 CONV,67,390/AIR CONV,70 454/air CONV,
What A MAN WON'T SPEND TO GIVE HIS ASS A RIDEComment
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Re: Sitting Corvette
Sounds like a parts car to me!!Comment
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Re: Sitting Corvette
Nicely said.
Many years ago I was complaining to Jim Perkins about how difficult it was going to be for me to break even on a Cadillac restoration I was working on. He said "That's not why you do it." He meant that some cars you restore just to enjoy and to preserve them for future generations.
PaulComment
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