Question: What's it worth?

[Tuna]

A friend of a friend of my wife has family that parked a 1961 Vette many years ago and have not touched it since. Now they are thinking of selling it. They tell my wife that it is original with just under 100K miles on it. Don't know how long it's been parked or what engine/trans it has - YET.

Where would I start to find out what this ought to sell for as is?

 

[catbert]

Depends almost entirely on condition. An "all there," but rough, 61 can go from 30 to 60K depending on features and level of restoration needed. It would also depend on whether it's bought to drive or restore. It'll be hard to get a good number without a formal appraisal. Those guys can give you an idea of auction, FISBO and dealer value.

if it's been parked for 20 years or more, I'd take a chance at an auction, listing it a barn or garage find. The auctions will normally give a pretty good auction estimate value to list in their catalog. If they go that way, it shouldn't even be washed before the sale. Bidders love an inch of dust on barn finds.

Nice dilemma to have.

 

[Tuna]

Thanks for that.

 

[XLR8]

I'm with catbert: what I wouldn't give to be in that dilemma.

Post more info as you can, Tuna. I'm interested in the 'story', unfortunately not as a potential buyer, but as a Corvette fanatic. BTW - I'll make sure both Tom Bryant and GS Diva (Elaine) see this thread also. As more info becomes available they may have advice to share, especially from the 'barn find' angle. CorvetteMike recently sold a dust covered 78 pace car (13 original miles) that had been sitting in a barn for 33 years!

Here's the 78 story: ’78 Barn Find | Corvette Mike New England

Jane Ann

 

[GS Diva]

I totally agree with catbert. There's way too many variables and unknowns to give any sort of estimate of its worth. An auction, listing it as a barn find, would probably be a good way to go. People love those kind of cars!

Elaine

 

[vigman]

Well on E bay

Buy it now
39.5 to 82.5 K ( 47K avg value )

Assume min. of 20 K to max of 35K for a restoration to get to the above....

In todays economy...... 20-25K if there is nothing " special " about the car...
Considerations
Clear title & keys in hand...
If it was covered, in a garage, and not to much element or animal damage..
Can the car be towed directly out of it's resting place... or will you need a tractor to drag it out ?
Was it stored on a dirt floor or concrete..?

Is the motor original ?
Prior accidents... bad repairs ?
Frame condition ?
Pix's would be a plus...

On a restoration... on these type of cars it's what you can keep vs what needs replacing and usually the replacing list wins!

Sure it's interesting and all that... like finding the lost treasure of the Incas ....
It's typically cheaper ( and less stress ) to buy a runner you can afford.. fully inspected BEFORE purchase..

 

[Tuna]

I'm not an interested buyer on this car either, but my wife's bosses know the people that have the car and they think she is all knowing about Corvettes.

Having never done something like this before, we're having to ask around to find the best way to go with the car - assuming that the owners actually listen to us.

May have "real" info on the car later this weekend after my wife gets back from her business trip. That's part of the rub, she's in DC and getting told about this at dinner and can't really absorb all the information or ask more questions about the car. We'll just have to see what unfolds.

I'll recommend that they leave it as it sits and get in touch with a couple of auction houses and see what happens from there.

 

[timfitz63]

This may be a useful resource: Hagerty Classic Car Value Guide. Not sure how well-researched the value trends reported by Hagerty are, but it's got to be better than guessing...

 

[Tuna]

Thanks for the Hagerty link.

 

[vigman]

there's not even a catagory for Barn find

So under 28K on the graph for a driver.. which this isnt...
43K avg ( I was a bit high ).....

I assume a barn find.. spins it as an add value... but it really a detract...at least for me unless the car is really rare...

My 64 I have about 30K into ( all in ) and rising this week.. and it MIGHT be worth 35 as a type 3 car

 

[Tom Bryant]

If it's all original there will be a big swing in value from a base motor car up to a 270 and then on up to a FI.

 

[vigman]

That's why facts & pix are needed

Beauty is in the eye... but cars like this are eyesores ( in the existing condition ) ....
I for 1 wouldn't pay 20K for the given example ...
Even if " original " ... the car would have to have some history's that fully documented to get up there
The costs for restoring something like below would be prohibitive.from a dollars and sence standpoint. IMHO..

This just sold on E bay
http://cgi.ebay.com/ebaymotors/1961...rs_Trucks&hash=item2a26983862#ht_22504wt_1167
34.5K

If you have a shop or a DYI guy, that makes less $$ out of pocket ( but the trade off is calories & time )
So the basic math.. pay 20K for below .. and for less than 14K can you get in daily driver condition ?
From a money standpoint... not so good...

But this is our addiction, so if is your " therapy" then money is not an issue.. ( and cheaper than most shrinks )
If your Jay Leno not even a concern..

But if your like me.. it's a tough choice between heart & mind...

Sometimes it ends in tears..like this poor guy
http://cgi.ebay.com/ebaymotors/1964...=STRK:MEWAX:IT&forcev4exp=true#ht_1706wt_1167

Please read the copy for the add...It's sad