1972 Convertible worth buying?

[Jack]

George: Is this car mechanically & cosmetically as good as it looks in the pics? If so, many of the larger used vette dealers routinely get $5K-$10K MORE for similar NOM and/or color-change cars. There's a real-world test for this ... won't cost a penny: simply post the owner's contact info here ... see how soon it finds a new home.

There's more than one way to skin a cat ... I disagree that it's no longer a "big block car." I ascribe to the convention that once it's a BB car it's always a BB car. The car is what it is ... BB motors can come & go & be cloned. Also, seems No A/C on a NOM car is more of a localized issue; much depends upon end-user's home climate. Northwestern drivers less likely to require A/C than Southeasterners.

From your previous vettes, you may recall C3 A/C never was as effective as on later models. If this 72's OE A/C plenum, vents & cabin controls are still there ... a good working A/C could be re-established for well under $1K. It's a nice looking car ... if it's as good as it looks in pics ... and you'd like the car for a driver ... buy it and enjoy it. Its value probably won't skyrocket, probably not as fast as the 04 CE decreases, but it'll increase.
JACK:gap

 

[Stingray6974]

This is always a touchy subject. Here are my thoughts of values. They are just my opinions, not validated proof.
1. original bb engine numbers matching
2. bb nom
3. bb car no engine
4. bb car with 350 engine. Mainly due to extra cost converting back to bb.
On the other hand imagine if Bob ,67Heaven, was going to firesale his car. NOM engine, trans, body and suspension modifications. There would be a line of people trying to buy it.
Is this '72 worth 15k? Possibly. Would it be worth the expense to put it back to original? No. Will it go up in value regardless? Yes.
Mike

 

[JJS]

Hey... lighten up.... put some tape on it y'all.

I hear ya, but the guy is asking for advice. I know if I were asking for advice, I'd want it to be accurate, especially when you're talking investment.

I think it's a very nice looking car, but I think $15K is a little high for a NOM, even though it is a vert. This time of year the prices sure have a tendancy to skyrocket, though.

-John

 

[GEH737]

Thank you very much for the thoughtful replies. I'd be all over it if it were an original big block. You always here stories of "the one in the barn" and I was wondering if this might be that type of find. The owner is an older guy in a local club I belong to and he's had the car for awhile and it's stored up in New York - he just wants to "get rid of it". He mentioned $18k initially, but he's certainly willing to negotiate - 10K? I doubt it, but then it'd be a different story then as well. I don't really "need" another one - I love my '04 CE Convertible 6-speed to no end. I just thought that if it had real potential, it would be worth the effort to bring it down, restore it, etc. Tough to do where I live on the beach. I'll talk it over some more with him, but you've given me a lot to start with. Thank you very much.

Regards,
George

 

[lnirenberg]

It sounds like you may have already gotten what you were looking for out of this thread but we CACers can be passionate(see above squabble) and yappy, so here's my .02. Firstly, if I lived in Florida I would be very selective of the cars I considered and I wouldn't buy a car w/o AC. In my extended search prior to finding mine (which came from Florida!) and my continued, though slightly more occasional, look at classifieds (I need constant validation that I bought well) there seem to be a lot more in southern Florida than there are within driving distance to my shack. Secondly, I wouldn't be so quick to say he won't take $10,000 as he hasn't sold it yet (or has he?) and at some point he may need to adjust his target price to a more realistic level. I weigh in that $15K for a NOM and not OEM color with AC removed is a bit pricey. How it came from St Louis is a moot point as for $15K you would be better off buying a #s matching base 350 in the original color. But if the car is in good condition $10K sound pretty enticing. The key to negotiation done well is to keep in mind he needs to sell it more than you need to buy (this mind set is important whether its true or not!). Its not like your insulting his wife, so don't be afraid to low ball him and make sure you leave him your phone #. Be patient, if someone else ponies up there are more original chrome bumper cars in the price range.

 

[Koop]

I've seen some decent drivers (far, far from great) '69-'72 coupes from $15,000 - $17,500 350's and 454's some had AC, some did not, some Auto's some 4 spds, matching numbers were not claimed by any that I recall. I have not seen any Convertible C3's go (I go to auctions) nor have I seen any stellar C3 cars auctioned at all. Putting that car back to original could be quite expensive, putting the AC back together and just driving it could be fun. If that model turns into an appreciating collectable you could always put it together in the future if it made sense. If it's a nice car, that's a great price for a driver even if you need to put several thousand into it. If it has a crappy repaint, bad body work, needs AC and a top, pass.

 

[GEH737]

You guys have brought up some great points, I'm going to print all this out and talk with him again when I see him later in the month. I know the car isn't going anywhere - it's just good to know that it is what it is, a nice good looking car without a lot of "investment potential" - just a fun driver. Again, thanks for your thoughtful replies.

Regards,
George

 

[mdenno]

I purchased a 72 convertible a couple of years ago that I thought and still do think was a good deal. I pd 16K for a numbers matching 454 auto with air two tops, still has original paint that I would call a five footer and original interior in good shape. Last owner had it since 74. I think the numbers matching big block will make a world of difference down the road in terms of value.

 

[JJS]

I'm not sure if it's just me or not, maybe I'm just getting old, but I'm not sure you want one of these as an investment anyway. I bought mine in January 2003, and I got one of the cars I always wanted. A 1971 LT-1 that had gone through a complete frame-off restoration. It's numbers matching, and the whole nine yards...I couldn't have asked for a better car for the money.

I didn't buy the car as an investment, but with the way the prices for these have gone through the roof, it's become one. The guy that I store it with here in MA does complete "frame-off" restorations and he (and his people) tell me it's one of the best frame-off's they've seen on a car like mine. He told me and my wife a couple of weeks ago that he'd put its value in the mid $40's - $50k, and that I "stole" it for what I paid for it. Actually, I think the timing was just right, and I got lucky....or did I?

It's gotten to the point where I worry about everything while I'm driving it, instead of just enjoying it. Just last week I went to get an inspection sticker, and nobody at the Chevy dealer (well, nobody that was available) knew how to drive a standard except for this cocky, snotty nosed idiot, who I knew wouldn't even know how to open the doors (so I opened it for him). He comes out and says "oh, the old one over there? No problem." If these two words (no problem) aren't the kiss of death, I don't know what are.

Next thing I know, he can't even start it (I have to), he's adjusted my seat...he's in this thing for 2 seconds.....DON'T F**k with my seat!!!!...then I start hearing the gears grinding and nearly flip out, as I rush over and ask him what the hell he's doing...then he needs to pull up the emerency brake to keep it from rolling back....geez, I thought he knew how to drive a standard....and then he rolls back, nearly hitting two cars that were parked.

I'm telling you, it's more worry than it's worth now. I'm actually entertaining thoughts of putting it up for sale. Do yourself a favor and don't buy one of these as an investment unless you plan on putting it away for several years, taking it out for a ride around the block every other week.

Sorry if I got carried away here!


-John

 

[early shark]

John:

I couldn't agree with you more! Same thing here, bought what I always wanted, an original, unmolested '71 LS-6 coupe a few years back for a reasonable price at the time, now it has become a trailered car for most trips with driving it occuring around my home town mostly and at the locations where I take it too. The investment potential on this car now surpasses the price I purchased my home for, which was 135K, 17 yrs ago.

 

[JJS]

It really is unbelievable for what I consider to be "this late in the game."
By that I mean, most of the baby-boomers already have their cars.....at least those of us who have survived our mid-life crisis thanks to our cars!
Like I said though, it's taken the fun out of it for me. I haven't touched the car since I had the inspection sticker put on, although we have had a lot of rain/showers. I am seriously considering putting it up for sale.

 

[Koop]

A 1971 LT-1 that had gone through a complete frame-off restoration. It's numbers matching, and the whole nine yards...I couldn't have asked for a better car for the money.

I didn't buy the car as an investment, but with the way the prices for these have gone through the roof, it's become one. The guy that I store it with here in MA does complete "frame-off" restorations and he (and his people) tell me it's one of the best frame-off's they've seen on a car like mine. He told me and my wife a couple of weeks ago that he'd put its value in the mid $40's - $50k, and that I "stole" it for what I paid for it. Actually, I think the timing was just right, and I got lucky....or did I?

Sorry if I got carried away here!


-John

I think a frame off numbers matching LT1 would well over $50,000 at the right auction, I don't see why they won't get into the $70,000 range soon.

When I finished the last Restoration on my car it turned out so nice I was afraid it would get scratched or crashed. Then some A..hole didn't look and ran me off the road, at that point I decided that I love to drive the car and I'm not going to worry about it anymore. I still take care of it but detroit made these cars to drive. If I wreck GM will make me a new one!

 

[lnirenberg]

John, you open a real can of worms here. My view is if you want an investment buy real estate, cars were made to be driven. I would say to each his own but if you look at the auction results it shows that prices are out of control and those of us who just want to drive are going to be priced out or just too paranoid to take our cars out of the garage.

 

[JJS]

John, you open a real can of worms here. My view is if you want an investment buy real estate, cars were made to be driven. I would say to each his own but if you look at the auction results it shows that prices are out of control and those of us who just want to drive are going to be priced out or just too paranoid to take our cars out of the garage.

This is exactly my point. I bought the car (one of 'em) that I always wanted, and yes, I've become paranoid about driving it. I bought the car to drive it, but when people that perform restorations and do appraisals for a living tell you the car is worth almost double what you just paid for it, there's a tendancy to become paranoid.

I'm starting to think that I'd be better off selling the LT-1 (I can't believe I'm saying that), and buying something newer.

All this rain, after the long winter we had is also getting to me. They're calling for rain again this weekend.....what's this, the sixth weekend in a row we've had rain???? At least I could park a C5 outside and not think twice about it!

By the way, I think those auctions are bs, and the average guy (like myself) will never be able to buy the car of their dreams. I got lucky, and got in just under the wire. I really feel for those that didn't.

 

[lnirenberg]

Unfortunately, even though I agree with you re.: bs & auctions they drive the market as between all the mags and access on the internet the results are available for all to see. The fenzy has skewed the market out of wack for "collectables" such as your LT1 shark and I think it even screws up the base cars like mine. If I was in your shoes I would get a nice C5 driver and put the change in the bank and consider it a deal well struck.

 

[tonyk72]

This is exactly how I feel...

I'm not sure if it's just me or not, maybe I'm just getting old, but I'm not sure you want one of these as an investment anyway. I bought mine in January 2003, and I got one of the cars I always wanted. A 1971 LT-1 that had gone through a complete frame-off restoration. It's numbers matching, and the whole nine yards...I couldn't have asked for a better car for the money.

I didn't buy the car as an investment, but with the way the prices for these have gone through the roof, it's become one. The guy that I store it with here in MA does complete "frame-off" restorations and he (and his people) tell me it's one of the best frame-off's they've seen on a car like mine. He told me and my wife a couple of weeks ago that he'd put its value in the mid $40's - $50k, and that I "stole" it for what I paid for it. Actually, I think the timing was just right, and I got lucky....or did I?

It's gotten to the point where I worry about everything while I'm driving it, instead of just enjoying it.

I'm telling you, it's more worry than it's worth now. I'm actually entertaining thoughts of putting it up for sale. Do yourself a favor and don't buy one of these as an investment unless you plan on putting it away for several years, taking it out for a ride around the block every other week.

Sorry if I got carried away here!


-John

You and I are in the same boat...I got the car I wanted (actually more than I wanted) and now all it does is sit in the garage...I don't drive it because I'd worry about it more than enjoy it when its out on the road. Sometimes I wish I would have got a non matching #'s car so I could do whatever I want to it & drive it care-free...The 'vette I have now will probably end up in one of those inflatable bubbles in a year or two and sit in it for 51 weeks a year.

 

[lnirenberg]

So GEH737, did you stick your head in the oven yet or has this thread cured you of vette fever all together? Enjoy the '04.

 

[Koop]

Get some good insurance and get out and drive the car, that's what it was made for. I took my 4 year old for donuts this morning in mine, it was a blast. It's a shame to hear that any of these cars are not used and enjoyed, you can't take it with you. I don't want to check out with a pristine unused (meaning unloved in my book) chevy sitting under a cover in my garage. An elderly lady in town died recently, in her garage was her (original owner) pristine 1961 Vette white with red, 800 miles on the clock after a frame off in the 80's (this was museum quality). WTF did she save it for? I know for sure that she did not take it with her.

 

[lnirenberg]

Get some good insurance and get out and drive the car, that's what it was made for. I took my 4 year old for donuts this morning in mine, it was a blast. It's a shame to hear that any of these cars are not used and enjoyed, you can't take it with you. I don't want to check out with a pristine unused (meaning unloved in my book) chevy sitting under a cover in my garage. An elderly lady in town died recently, in her garage was her (original owner) pristine 1961 Vette white with red, 800 miles on the clock after a frame off in the 80's (this was museum quality). WTF did she save it for? I know for sure that she did not take it with her.

Good advise save 1 thing--good insurance, like I needed to open up another ventable subject in a thread about a 72 vert. I don't exactly drive a tremendously "collectable" car but without a stated value insurance policy I know I would be under water. I tried every single one of the "collector insurance" companies and got the same answer. With a even mildly modified car, that that gets driven across state or anywhere else for that matter on a whim and a cloudless sky its a no go. I got my regular company to do a stated value policy based on an appraisal but they depreciate the car every year based on some elusive chart of useful life--depreciate! The car goes up the coverage goes down. Go figure.

 

[Vettehead Mikey]

I got my regular company to do a stated value policy based on an appraisal but they depreciate the car every year based on some elusive chart of useful life--depreciate! The car goes up the coverage goes down. Go figure.

At least you figured this one out ahead of time and not after it's too late.

A stated value insurance policy is almost useless. You can insure your car for 1 milllllllllllllllllllllllion dollars if you want, but you'll only get paid the depreciated value of a 33 year old Chev (Maybe 2-3 grand) in the case of a loss. Hard lesson to learn for most folks.

You need an agreed value policy, big difference.