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Question: New car to me. Did I pay too much?

Scott Benedict

New member
Joined
Mar 9, 2018
Messages
3
Location
WA
Corvette
1960 Red white coves
I am new here and would like to stir up the opinion pot a little. I just pulled the trigger on a 1960, bright red with white coves. I am hoping I didn't pay too much. This is a non number matching car. 350 with headers, exhaust all the way and out the bumper, Muncie 4spd, disc brakes, new american spoke mags, brand new Goodyear tires. All bumpers, grill, windows, stainless on coves all look good. I paid an appraiser to go check it out as it is across the country. I could tell from the dealers pictures that the car was pretty rough once you got by the nice paint. Sloppy wiring, battery in trunk etc. I was mainly concerned about the frame and the body. He said the body was original and showed no signs of repair anywhere. All the seams looked good, very minimal amount of small cracks. Interior is worn black, but all there. it has the 6500 red-line tach. No hard top, white soft top. The disc brake conversion looks sanitary, new wheel cylinders can be seen along with all new steel lines, done well. but the frame...pretty bad by my standards, for back east this is mild rust. It shows evidence of small patch work just under the forward leaf spring mounts, and on the rear cross-member. The usual places. He said the thing runs strong, trans felt real good, no rattles, no squeaks, very tight for the way it looked. They had this thing priced over $50,000 and dropped it to 49,000 just as I noticed it. I saw the rust in the pictures they sent me, called and got them down to $40,000 and got it for that. I don't have a lot more than that so I felt good to even get one as I have been looking for a while and man they ask a lot for paint and interior when most of the time the under side or the engine is badly in need of help. I ran my own auto repair business for 35 years, still have the shop, so I am OK fixing this thing. I figure if all else fails I'll stick a frame under it with a body this good. I have two 283's, that are early 60s, maybe one is a 60, I hope. I plan to slowly get it a little more stock appearing. I do like the wheels very much so they'll stay for now. I am going to try to post a picture here if I can figure it out. Did I pay too much?
1049uuu.jpg
 

LLC5

Well-known member
Joined
Sep 28, 2004
Messages
2,299
Location
Wa.
Corvette
98 black 6spd convert.
First off, this is the wrong time to be asking that question.

Second , if it's what you want and what you like then it is worth every penny.

Third, buying a vehicle already done and the way you want it is almost ALWAYS cheaper than trying to do it yourself, especially if you put a monetary value on your time spent doing it.

Enjoy it and drive it, looks like a real nice vehicle.
 

Scott Benedict

New member
Joined
Mar 9, 2018
Messages
3
Location
WA
Corvette
1960 Red white coves
Yes I know all of that. Retired ASE master tech and I still have my fully equipped (now closed) business. It was on my acreage, so I have three bays, two lifts, and time. I won't count the labor as a cost just a hobby. This is a long time dream since driving one a lot in High school. The price of one done the way I want is way out of reach, and there was a draw to not perfect, not virgin, which translates to you can drive it and thrash it a little. Then with time, slowly improve it which should up the value in the long run in case (further) old age warrants selling it. I was just curious about the deal i did or didn't get. It's definitely hard to find anything under $50,000 it seems, I have hunted for a while, limited to 58/59/60. I am pretty sure I'll be happy with most of this vehicle, time will tell.
 

LLC5

Well-known member
Joined
Sep 28, 2004
Messages
2,299
Location
Wa.
Corvette
98 black 6spd convert.
Yes I know all of that. Retired ASE master tech and I still have my fully equipped (now closed) business. It was on my acreage, so I have three bays, two lifts, and time. I won't count the labor as a cost just a hobby. This is a long time dream since driving one a lot in High school. The price of one done the way I want is way out of reach, and there was a draw to not perfect, not virgin, which translates to you can drive it and thrash it a little. Then with time, slowly improve it which should up the value in the long run in case (further) old age warrants selling it. I was just curious about the deal i did or didn't get. It's definitely hard to find anything under $50,000 it seems, I have hunted for a while, limited to 58/59/60. I am pretty sure I'll be happy with most of this vehicle, time will tell.



I'm sure you will enjoy it, and restomods are all the rage now so holding it's value shouldn't be a problem, just check out a Barret Jackson auction sometime, quality restomod prices are out pacing OEM originals.
 

Toms007

Moderator
Joined
Sep 24, 2004
Messages
6,381
Location
Southwest Kansas
Corvette
2007 Atomic Orange Coupe
Well,a welcome is in order first:w I think if you are happy with the purchase, then you did ok. Yes, it is pretty hard to find anything for less than $50k. I think all of us are anxious to see how it looks in your eyes when it arrives and ready to follow the progress as you make it your own. :thumb
 

Scott Benedict

New member
Joined
Mar 9, 2018
Messages
3
Location
WA
Corvette
1960 Red white coves
Thanks for the welcome.

The waiting for this baby is going to be the tough part. I still don't have a truck yet. I hope they call Monday. The suspense of what did I get? is going to be tough. There won't be anything I can't fix, I am just hoping to drive it this summer, and it doesn't even have seat belts yet. that won't be easy from what I read. I am hoping someone just pulled the belts and the brackets are still there, but I scrounged it all up on eBay just in case. It will all be here when the car shows up.

I'l do an update when the car gets here, this should be interesting if nothing else.
 

Tom Bryant

Well-known member
Administrator
Joined
Nov 9, 2000
Messages
7,223
Location
Edgerton, Ohio, United States
Corvette
1959 black 270hp (9/2/69) 1981 Beige L81(10/20/80)
Scott, Welcome to the CAC

That seems to be a pretty nice driver for the money. With all the mechanical updates already done it should be a decent driver. You will know for sure once you get it up on your lift and get a good look at the frame. I hope you are happy with your purchase when it arrives. Summer cruising is just around the corner.

Tom
 
Joined
May 22, 2005
Messages
437
Location
Maryland
Corvette
2001 Z06
Sharp car. And, as Tom said, I hope you check back in and update us once you get it and check it out yourself.
 

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