WillRockwell

I'm new to the forum and don't own a Vette, but I'm excited about a car I saw this weekend, which is for sale. It's history classifies it as an authentic "barn find", though it's in a suburban garage.
This is a '57 Vette, with matching motor. It was purchased by the current owners family from the first owner, a 54 year old nurse, in the early 1960's. The car was first owned by the current owner's brother, then passed along. It has not been started or moved since the early 1980's. It has no visible body damage, all the major parts seem to be in place, including the folding top. I'm writing to get your opinion about what a car like this is worth, what it would cost to restore to an attractive drivable condition (not concours), and how much one could expect to sell it for after restoration. Here are some of the pictures, the one at the end shows the car in the '60's. Thank you for helping.

AZDoug

What condition is the frame in? i.e how rusty?

As to how much you can sell it for after you restore it, probably less than what you have invested in it, if you pay someone else to to the body work, paint, and assembly, unless you can get the car for say $5000 instead of $30,000.

Doug

Low Rider

It really depends greatly on how much of the work you can and are willing to do. On a car like this every single part is going to have to be redone to some degree. The fact that it is all there is good for a reference but most of it will get rebuilt or replaced. An educated guess on the rebuild is between 30 and 60k, depending on what you want the car to become. Minimal rebuilds bring minimum money a quality rebuild will be expensive but bring pretty good money 75k and up.
If you are planning on making a killing on the car, it's probably not there. The good news is in its condition you should be able to buy it reasonable and 57s are not easy to find in any condition. One other thing you will find that parts that look OK now in the condition the car is in wont as you start replacing or refurbishing other parts. The better the car starts to look the worst some of the parts you thought were OK wont be.
Good luck with you decision and this forum will be a great help to you if you go forward. Keep us informed.

WillRockwell

I stuck the camera as far under the car as I could, the results are here. I wouldn't expect to make a killing on the car, and am not enough of a mechanic to attempt a restoration, but I do recognize a good thing when I see it. The fellow is asking 20K, I'm sure he'd take less.

John S 1961

Here is the fun part, cost you 20k for the car, needs 30k in restoration and is probably worth 45K in nice condition. But for 20k or I would buy it and fix whats broken use is for a few years and you will not go backwards.

Zoomin

Just as a point of reference, you could spend your $50,000 on a 2013 Vette, and it will be worth $25,000 in 4 years, so this is a cheaper way to play if you want to have a toy.

Panama 58

All good thoughts. Here's mine. You say you want to bring it up to a nice driver condition. How disciplined are you? If you can keep away from the dreaded "might as well do it now' instead of later's" you can have fun with it, take your time, do the essential things first so you can enjoy it and let someone else someday pour the high end restoration dollars into it. This is of course assuming that it runs, is matching numbers and no real surprises once you get into it. Check the frame out carefully.
Good luck!
Panama58

WillRockwell

Your comments have injected a much needed dose of reality into my dreams. Thank you. I have friends who are much more capable of restoring this car, and I'll make them aware of it.

myronf

Where is the car located? I may be interested.

Fawndeuce

I would say that $30k in restoration would be if you did everything yourself, except for maybe paint.
The problem is with with a car like this is that as others have mentioned, every single part on the car will require at least some form of attention. It would be very difficult to start taking it apart and only do certain things, by the looks of it, it needs to be fully gone through. Always cheaper to buy a done car, especially if you have to pay someone to do the work.




Paul

C-1 Generation 2

I just saw a recently finished 57 at a car cruise last Friday. This car was really amazing. Possibly a good motivation for you.

http://www.flickr.com/photos/daddy_rah/9691199782/
I think there's four other pictures of the 57

0Heartland Customs

I've been looking for a project '57 and would like to check this car out if it is available. Please PM me the details.

OC-1

step away from your computer, go to the bank on the way to hand the seller the cash.

Forget all the big buck figures mentioned. You don't need to spend all that cash tomorrow. Get it driveable and enjoy the corvette hobby at your own pace and financial budget.

You won't looose money unless it is a stolen car, vin tag missing from door jamb or every body panel needs to be repalced. Frames abound.

An unrestored 57 will bring as much attention as a fully restored car, maybe more.

sub006

Escellent point! And the value divide may well increase as the C7 becomes an older used car.

John S 1961

A+

Dont over think this, there wont be another coming along. give anyone here the lead and they will appreciate it, me I would buy it and stick it in my stock portfolio! in ten years who knows!

As an Owner of a C minus-condition unrestored 61, I find that the car is much more approachable to the ordinary person. Its very popular wherever I take it. It can be touched, sat in and people can sit their kids in it to take pictures. I have no concern for dust dirt rock chips dripping ice cream and the other assorted components of life.

I pull it out every couple of weeks, wash, vacum and head out. I modify thing to function correctly with no regard for Obsessive orginality. And they are as simple as a car can be.

Imagine you found this car in 1977, it would be worth about 3,000 and you would just fix whats broken, put a quickie scuff and squirt paint job on it and take the kids (or a dame) to the beach.

enjoyable and carefree, I would take it, opportunity doesnt knock twice.

emccomas

From what I can see, and assuming it is the original motor, it is easily worth the asking price, ASSUMING there is no major gotchas.

Take someone with you that you trust, and that knows these early Corvettes, to do an accurate appraisal of the condition.

It is missing some parts (tach, correct air cleaner, etc.) so be sure to ask about any parts that go with the car.

These sorts of deals don't come along often, but make sure you know the condition of the car before you buy it.

I paid more that this for a 56 in less condition, and I feel like I got a good deal on it. I did get a rebuilt engine with the deal, but it was not the original engine.

Mr D.

I missed that on the first go around, if I was looking for a 57 I would not have a problem with this car or the asking price.

emccomas

The considerable interest in this car from others on the forum should tell you something.

Gary's '66

I think he got scared and ran away.

mcb55-210

Mike