Found a low miles 87 Callaway

[Glutamine83]

hi everyone,
this is my first post in the forum, i spend most of my time on corvetteforum posting in the C3 section ( i have a 1979 L-82 done up near 400hp)

my father recently made friends with a guy who does a lot of professional fishing, like my dad.......this guy is from Montana

after a few beers one night, i told him that I had a corvette and what I had done to it.....
he immediately asked me if I wanted to buy a corvette, and I said no, but then we got to talking and he said his friend had an 87 TT, i didn't think anything of it.........then he told me it had 7000 miles, it was fairly intact, mint interior, decent engine bay..........all it needed was a hood..........somehow it got vandalized about 10 years ago, and the hood is too far gone to be repaired

this intermediary (as I like to call him) rebuilds write-offs (fully licenced) from the ground up (does lots of SUV's and BMW's), and is very reputable, he is also as honest as snot and has never mumbled a swear word worse than Gee-Goly

he said that the current owner of the Callaway is a complete wingnut, apparently the guy bought the car in 1989 for about $20K, and after the hood got damaged, he put the car in his garage and left it there until this year....2003...the car is sitting on temporary rims and tires, as well the engine was yanked for cleaning and polishing which never did occur
also, there is a wiring harness somewhere that touched one of the turbo ducts, and apparently it needs to be replaced as well (not sure which wiring harness it is, you guys know better than I do)

well, then I asked this guy what his friend wants for the car, and he said he had no idea, but he knew the guy was a dork and is going broke, so he is absolutedly desperate to sell it
i told this guy that I would offer his friend $8000 for the car the way it is, he told his friend and the friend was willing to negotiate in that price range

i have seen pictures of the car, and the engine looks like it needs to be cleaned up, the hood is beat up, the interior is mint, the paint is mint, the windshield has some small cracks, there is no rust underneath, also, i've seen pics of the callaway ID plate, but I can't remember which number it is

this may sound like a hustle to you guys, and there are a lot of unknowns with this car, but we are 100% certain that the intermediary is as straight as an arrow, he offered to take the car into his shop and look it over personally (ie pull most of it apart and inspect it, check for frame damage, get the engine running...etc)

i think $8000-$12000 USD is a decent deal for a car like this, especially such a rare one

what are your opinions? please note that I'm a newbie with C4's, I have no idea what to look for, what to avoid

in the next few weeks, me and my dad plan on heading down to montana to investigate

worst case scenario, we get to go on a road trip......lol

 

[Vettelt193]

Just keep in mind that if there are any Callaway specific parts missing they will be very pricey, if you can get them at all. $8000 seems a bit high to me for the amount of work that it sounds like it needs. Hoods for standard C4's are not cheap as it is, and paint + body work won't be cheap either. I guess all I am trying to say is be careful!!!!!!! oh, and GOOD LUCK! if you get a good deal, that would be awesome

 

[*89x2*]

Buy it

Glutamine83 , welcome to the

I saw an old thread on this awhile back...

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CorvetteforumC4 General Discussion1987 Callaway Corvette, Good deaL?????????? (Read Only Topic)

Glutamine83
Senior Member
1987 Callaway Corvette, Good deaL?????????? 1:32 PM 5/1/2003

Hi everyone, this is my first post in these forums
I have a 1979 L-82........but that's not what I'm hear to talk about.
I was connected with a guy that has a 1987 Callaway Corvette dismantled in his garage. I talked to him and he sent me pictures. Basically he bought the car off a guy in 1988 who didn't want it. The guy who owns it now took it to a car show, and there was a fire under the hood. A volunteer firefighter put an axe through the hood, ripped the hood off and put out the fire. Apparently a wiring harness was touching part of the turbo and started smouldering. The only damage to the car is to the hood, and some sort of wiring harness.
The car is mint mint mint otherwise, and I confirmed that it was a callaway based on the markings and the little plaque on the interior which i saw in the picture.
The car only has 7000 miles on it, and the guy wants to sell it to me for less than $10,000US. I'm Canadian, and a poor finance major, but i see this as an excellent opportunity.
What do you think?

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vader86
Elite Member
Re: 1987 Callaway Corvette, Good deaL?????????? (Glutamine83) 1:43 PM 5/1/2003

id buy it
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CentralCoaster
Senior Member
Re: 1987 Callaway Corvette, Good deaL?????????? (Glutamine83) 1:59 PM 5/1/2003

I think it sounds like a great project. And when you're done, if you in fact decide to sell you won't lose everything you put into it (if you keep it stock).
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bogus
Senior Member
Re: 1987 Callaway Corvette, Good deaL?????????? (Glutamine83) 2:08 PM 5/1/2003

depending on the condition of the engine, that could run into BIG $$ to rebuild right.
most of the $25,000.00USC option cost was motor.

I would not pay much more than $7500USC for it.

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*89x2*
Senior Member
Re: 1987 Callaway Corvette, Good deaL?????????? (Glutamine83) 4:30 PM 5/1/2003

quote:
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Hi everyone, this is my first post in these forums
I have a 1979 L-82........but that's not what I'm hear to talk about.
I was connected with a guy that has a 1987 Callaway Corvette dismantled in his garage. I talked to him and he sent me pictures. Basically he bought the car off a guy in 1988 who didn't want it. The guy who owns it now took it to a car show, and there was a fire under the hood. A volunteer firefighter put an axe through the hood, ripped the hood off and put out the fire. Apparently a wiring harness was touching part of the turbo and started smouldering. The only damage to the car is to the hood, and some sort of wiring harness.
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By dismantled I assume you mean the hood is the part off the car and the rest is intact?? If so, 10 grand isn't exactly a steal but for wht the car is, a new hood w/ the ducting from Callaway couldn't be more than 2500 bucks (US) or so... Wire harness - check w/ GM Parts for priciing on that, Body wise, the hood DID have Callaway specific work done and of course, if those parts are no longer avail, repair cost would go up... Another option though would be to duct the air in a cheaper fashion by using the 91 Twin Turbo hood ducts>>>>>
Here are 1987 hood ducts

and here are 91 Hood ducts like Callaway used on the Speedsters...

The 91 hood used a lot less under hood ducting...

Hope all this helps - For more information on Callaway cars please visit www.callawaycars.com

OR
www.callawayownersgroup.com

-Good luck w/ your decision

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TIMSPEED
Senior Member
Re: 1987 Callaway Corvette, Good deaL?????????? (*89x2*) 4:51 PM 5/1/2003

I would JUMP on that deal!!! Literallly! Tell ME where it is, and I'LL BUY IT!!

[Modified by TIMSPEED, 2:51 PM 5/1/2003]
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TheCorvetteKid
Senior Member
Re: 1987 Callaway Corvette, Good deaL?????????? (TIMSPEED) 5:03 PM 5/1/2003

$10,000US for a Callaway Twin Turbo Corvette is actually quite a good deal. Assuming that the wire harness that caught fire and the damaged hood are the only things that really need to be replaced on the car, I would definitely consider it. After all, it IS a Callaway Twin Turbo Corvette.
The only draw-back that I can see is the taxes you'll pay when you bring the thing back here. So not only will you have to contend with the poor exchange rate, but you'll also have the GST and PST to deal with too. Ouch. But, how often do you find Callaway Twin Turbo Corvettes for sale in your local AutoTrader?

Check out Callaway's website (they have a used car section) and see what an '87 twin turbo car goes for. If the guy can send you the VIN number, maybe you can get a copy of the used vehicle package and see what the government thinks the car's wholesale value is. From there, you can work out the numbers and see if it makes financial sense to buy it and bring it over.

Good luck.

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Glutamine83
Senior Member
5:43 PM 5/1/2003

i realize taxes are going to be wanky, but if we could get a bill of sale made out for like $5000, or $3000 then we can minimize taxes, also the dollar is as strong as it'll ever be right now......
i think i've seen those callaway hood ducts for sale on like corvette america, i'm sure there where selling them as something you can add to the hood
the only thing holding me back is the 79 vette i have sitting in the garage right now, i will have to unload it to buy this callaway

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SurfnSun
Senior Member
Re: (Glutamine83) 5:57 PM 5/1/2003

Doesn't sound like too great of a deal to me....Id probably pass. Callaways are tempermental as is. One that has too much of a history could be a big time headache.

[Modified by SurfnSun, 7:01 PM 5/1/2003]

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*89x2*
Senior Member

Re: (Glutamine83) 6:18 PM 5/1/2003

quote:
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i think i've seen those callaway hood ducts for sale on like corvette america, i'm sure there where selling them as something you can add to the hood

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Those hood "triangles" you see from time to time are NOT Callaway hood "NACA" Ducts - Callaway did extensive underhood mods to duct the air to the intercoolers - Just for an example, here is a pic of an 88 under the hood - I don't have an 87's handy

Feel free to check out the callawayownersgroup.com for information and links for other Callaway stuff
I would be more than happy to put the details of the car on that site if you decide to pass on the purchase.
Good luck w/ your decision

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edsalinas
Senior Member
Re: (*89x2*) 7:40 PM 5/1/2003

You may have stumbled onto a very and rare find bro. Persue it, by all means.

Wish it were me.

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Jim85IROC
Senior Member
Re: (SurfnSun) 9:23 PM 5/1/2003

quote:
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Doesn't sound like too great of a deal to me....Id probably pass. Callaways are tempermental as is. One that has too much of a history could be a big time headache.

[Modified by SurfnSun, 7:01 PM 5/1/2003]

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too much of a history? It had ONE problem. Granted it was a major one, but it's not like a wire melting near the turbo is any sort of indication of future reliability or problems. Just be smart about it and rewire it smartly so there are no wires hanging on the turbo!
What's a mint 7k mile callaway worth? Once you know that, contact callaway and get a realistic estimate for parts costs and decide for yourself whether this is a bargain. My guess is that it definately is.

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96CEC4
Cruise-In IV Veteran
Re: (Jim85IROC) 9:34 PM 5/1/2003

Sounds like a great deal, hop on it!
Matt

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SurfnSun
Senior Member
Re: (Jim85IROC) 11:02 PM 5/1/2003

quote:
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What's a mint 7k mile callaway worth?
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I guess your definition of "mint" and mine differ greatly. I wouldn't call any car that caught on fire and had an axe put thru the hood "mint."

I can say from experience that dealing with a Callaway is different than that of a normal factory Vette.

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Jim85IROC
Senior Member
Re: (SurfnSun) 7:46 AM 5/2/2003

quote:
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What's a mint 7k mile callaway worth?
I guess your definition of "mint" and mine differ greatly. I wouldn't call any car that caught on fire and had an axe put thru the hood "mint."

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More cars than you realize have had a history that the owner doesn't know about. Everybody thinks their 20k mile cream puff never saw a cloudy day, when in reality it was beaten like a red headed step child. Don't forget... $30k in damages isn't enough to total a brand new vette.
If all damaged parts were replaced, what's the difference? I realize that it's not "original" and that may have a slight effect on the value if the buyer even knows it, which isn't likely, but if all it needs is a hood and wiring harness, then the car will still be a hell of a lot more "original" than most.

[Modified by Jim85IROC, 8:49 AM 5/2/2003]

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TheCorvetteKid
Senior Member
Re: (Jim85IROC) 9:55 AM 5/2/2003

Selling the '79 shouldn't be that big of a problem really. It's the right time of year, so I'm sure if you advertise in your local AutoTrader the car should go within a week (if not less). And I'm sure you have a good idea of what the '79 is worth, so as long as the price isn't outrageous it should go quick.
As for the hood on the Callaway, the ducts are no indication of the amount of work Callaway did on those hoods. In fact, it took them longer to modify and paint the hoods on the twin turbo cars than it did to assemble the engines! The ducts that you've seen in magazines are just cosmetic pieces - you'd be better off with just a stock replacement hood. In fact, to keeps your costs down you could probably get away with a stock hood in place of an 'authentic' '87 Callaway twin turbo hood, but you might be down on horsepower a bit (the ducts roughted air to the intercoolers above the valvecovers to cool the intake charge from the turbos). Although, the '88 Callaway twin turbo cars didn't have NACA ducts so I could be wrong. If you call Callaway Cars, I'm sure they would set things straight with respect to replacing the hood (whether you would need to use a ducted hood or a stock replacement).

As for the taxes, it doesn't matter what the receipt is made out for because Canada Customs and Revenue will charge you taxes based on the car's wholesale 'book' value. So if the wholesale is say $15,000CDN even if the have the seller writting you letter saying that the car was a'gift', they will charge you taxes on the wholesale value.

Of course, I love the Callaway Twin Turbo Corvettes so my advice would be to put the '79 in the AutoTrader right away and get on the phone with the owner of the Callaway and arrange to either go down and see the car or ask for a CDROM full of digital pictures. What's the worse that can happen? The '79 doesn't sell and you have to forget the Callaway? Big deal - you still have a 'Vette. But if everything works out, you'll have one of the rarest and fastest Corvettes ever produced. And once it's fixed, it'll be mint condition and ready to be enjoyed!

My $0.02.

[Modified by TheCorvetteKid, 3:59 PM 5/2/2003]

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*89x2*
Senior Member
Re: (TheCorvetteKid) 4:18 PM 5/2/2003

quote:
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As for the hood on the Callaway, the ducts are no indication of the amount of work Callaway did on those hoods. In fact, it took them longer to modify and paint the hoods on the twin turbo cars than it did to assemble the engines!
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CorvetteKid - Good stuff My 89 Twin Turbo had 29.x hr's build time shown on the Callaway paperwork - now this was a team working on the car.
The hood would take considerable time and I would NOT advise putting an unducted hood onto the car though.

quote:
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Although, the '88 Callaway twin turbo cars didn't have NACA ducts so I could be wrong. If you call Callaway Cars, I'm sure they would set things straight with respect to replacing the hood (whether you would need to use a ducted hood or a stock replacement).
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87's Twin Turbo cars used the NACA ducts like in the pic here>>

The 88- most 90 cars used a "Flat hood" (on the exterior) w/ major ducting underneath - drew air from where the airbox would normally be located>>

91's used the ducts like on this car - (some 90's got this as well)

The ducting underhood is the least complex on the 91 cars as the "blisters" ride right above the intercoolers and air is deflected down to them.
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Hope this helps

 

[SurfnSun]

I'll stand by my original statement. If youre very mechanically inclined and you have enough money to finish the job. Go for it. If youre trying to get into a "budget" Callaway, Id pass.

 

[*89x2*]

here is a pic of a 1987's underhood ducting - Hope it helps...

 

[Glutamine83]

i'll be going to montana in two weeks, so I'll keep all of the folks here posted, also, I'll be taking my digi cam and taking a rigorous inspection

 

[SurfnSun]

Good luck, I can't wait to see the pics

 

[*89x2*]

I hope it looks better than this one (with fire damage) :eek

This is a DIFFERENT Vette than in the thread (I hope... )

 

[TurboLuigi]

Major OUCH!.... I hope that's not a Callaway!

Luigi
:cool

 

[Glutamine83]

well, i'm heading to montana tonight, and I have two memory sticks for the digicam, can't wait to see the car

talk to you guys on monday!

 

[*89x2*]

well, i'm heading to montana tonight, and I have two memory sticks for the digicam, can't wait to see the car

talk to you guys on monday!

Looking forward to seeing & hearing about the trip & the Callaway - let us know how this works out for you


...post from the road

 

[Glutamine83]

i'm in montana right now

going to the car site tomorrow morning

talk to you guys tomorrow night

 

[Glutamine83]

hi everyone

i just got back from the car site, and i have little time to type

it is 1987 callaway #103

serial #
1G1YY2184H5119074

anyone want to verify this for me, it was taken off the door sticker, and it was dark in the shed, hopefully this is correct

pictures to come on monday

 

[*89x2*]

hi everyone

i just got back from the car site, and i have little time to type

it is 1987 callaway #103

serial #
1G1YY2184H5119074

anyone want to verify this for me, it was taken off the door sticker, and it was dark in the shed, hopefully this is correct

pictures to come on monday

Looking forward to hearing more on the trip & the Callaway

e mail jmercer@callawaycars.com or call her at 860 434 9002 and she can verify all the info from the car.
However, She is on vacation all next week and won't be in the office - I am not sure if anyone else will be able to look up the info for you in the meantime...

Details, we want the details

 

[topless82vette]

I know its a old thread but what happened? Did he get the car or what ...... wow how many fireman can ever say I got to put a axe through the hood of a callaway corvette. Talk about being legendary!

 

[*89x2*]

Never bought the car.