Refurb. Options and Maintaining Value?

[Full_Blown]

I'm in the process of refurbishing my first vette. What types of refurbishing and mods are best for maintaining or increasing the vehicle's value? Better yet, what type of mods/refurbs have a negative effect on the value?

I have a 79. The previous owner threw a rod or two in the engine but it is the orginal L48 with the exception of a Preformer intake, a Holley 600 carb, and some chrome covers etc., the AC has been removed, the interior has been hacked up for a sound system and the paint colour has been changed.

I have a rebuilt 1976 L82 minus the carb. I was planning on dropping in the L82, rebuilding the tranny, repainting the car, and replacing the damaged interior parts. Other than that, one of the previous owner spent some big bucks in repairing the suspension, brakes, exhaust, etc already.

What do you think my best direction would be? I plan to keep the car as an investment (to some degree) and as a Summer cruiser for me and the wife. I have no plans to show it other than maybe a vanity showing here and there. And I do like a little bit of speed and power

Thanks for any input,

Steve

 

[Bob Chadwick]

Steve,

I have bad news for you. The later year C3's are hobby's, not investments. I know I will never recoup the money I put in mine but that is okay as I will pass it to my son at some point when he "earns" it.

Not having the original engine in it works against you as do the performance mods that change it from original, the paint change, etc.

Bob

 

[Full_Blown]

No worries. For the price I bought the car and the motor for, I will still make a little tin.

As for my son, he can go buy his own. I had to wait 40 years to get mine. LOL.

Steve

 

[Bob Chadwick]

As long as you go in with that attitude, you will enjoy the hobby.

 

[Full_Blown]

Not having the original engine in it works against you as do the performance mods that change it from original, the paint change, etc.

So would it be better to rebuild the orginal L-48 and repaint it the original colour or will it really make any difference from the value point of view?

Steve

 

[Bob Chadwick]

The more original you make it, the more value it holds, or so the argument goes, as it is more valuable to a collector. The problem is that these cars, with a few exceptions, have a value in the $5,000 - 10,000 range in decent to good condition. You can easily outpace that in repairs trying to get top dollar out of the car.

I have a 77. In my opinion, this car will never have significant value to a collector. A very common car with no get up and go. It has value to me as a hobby and as a potential hot rod.

I put in an aftermarket stereo, changed to dual exhaust, changed to a composite spring, changed to an aftermarket intake and am going to replace the heads and cam. I will keep the original parts in case I sell it and the buyer wants them.

The car has value up to what someone will pay for it.

Bob

 

[gedmeyer]

My advice is to make the car whatever way that will make you the happiest when driving it. I have an '81 (which is pretty lethargic) but I said screw stock and decided to rebuild the engine into a 383 stroker. If anything, I would say someone might want to spend more money on it now just because it's a better car to drive and is gonna be waaayyy more fun.

My 81 will never be a collectors car, so I personalized it a little. Plus, with the right tweaking, you could give it more balls and it would still look stock!

 

[bossvette]

with the right tweaking, you could give it more balls

yup a 383 does that as this photo shows:L

 

[Robin7TFour]

CRAIG, what are you using for back-up lights? you gave me another idea. yeah, one more project to add to my list.



thank you

ROBIN

 

[gedmeyer]

Just have fun with the car. I think most of us buy them to drive 'em. Enjoy it, make a hobby out of it too!

I couldn't make my only Corvette a museum piece anyway, then I wouldn't be able to drive it! I'll save the perfectly stock, collectors item for my third vette! (second one is going to be a C6....ok, I'm starting to dream a little here, but you get the point)


-tim

 

[bossvette]

Robin
its the smallest "fog/driving light " I could find $29.95 at auto-zone works great and I still have a spare.
Craig sr

 

[Bob Chadwick]

What is that rod coming down the right side of the picture? Antenna?

 

[bossvette]

CB antenna for road trips
Craig sr

 

[KANE]

I would advocate just rebuilding it however you want. You will enjoy it more.

As for resale- a good buyer knows garbage when he sees it. As long as you do things right and don't take short cuts resale isn't a serious problem. You just have to understand that you won't get every dime out- youll get about 10-15K depending on what sort of modifications you make. You have a depreciating asset and in this economy that's it.

Just remember, old vettes go up in value. It maybe only a little bit, but its going up.

New Vettes are fun, but they are going down in value with every mile, scratch, and ding.

Just my thoughts...

 

[Corvette Craig]

Full Blown....

IMHO - Do what you want.
In the shark arena, Corvettes made between 76 to 81, are on the "low" end of Corvette value and resale. 82's are worth a few more $$$, depending on the condition.

Odds are, you'll never see someone with a pocket full of money, searching for a completely original restored 79.
Those buyers are getting chrome bumper sharks.

That was good news for me.
Think of it as a "low" dollar, hobby car, without the worries of resale, and then do want you want.

For a 79, if done tastefully, the mods you discussed are only going to improve the car, not pamper it, (Chevy did that) therefore - increase the value - somewhat.

My rule of thumb is:
The Vette itself will increase between $200 to $400 a year.
The mods might add approx. 25% to 50% of those costs, depending what it is.

For your car, the trick is NOT to be sucked into the high dollar upgrades, my suggestion is to: shop, shop, shop.
Use the Corvette Vendors mags for reference, then use your power as a consumer - see who else has a particular item or part, i/e: AutoZone, Pep Bros, Maaco Paint, etc....

There's no such thing as a quick profit for a 79, time itself is your best friend. Think 10 years down the road if you want to see any real profit - but that's still no guarantee.

Not to worry though, unless you completely hack it up, or worse yet - RICE IT, you can safely bet, the prices are NOT going down.

GOOD LUCK - dive right in and have some fun.