Re: Found in barn L88 on EBAY
 

Anthony,

Yes, it really does matter to some people, myself included.

I'll say it again, I have not investigated this particular car in any detail and I have no idea if it is real or not. I can tell you that if I found a 1968-69 Corvette convertible in similar condition that I felt without a doubt was an L-88 (with the documentation and owner history to prove it), I would have no problem spending $40,000 to buy it and probably a like amount to restore it. My alternative? Buy one that is already restored for $100,000+ (that is the current going rate for a 1968 or 1969 L-88 convertible).

Am I crazy for thinking this way? Maybe... But in the end I'll own one very significant Corvette.

My big concern right now is that the rumors regarding the Chevrolet vehicle records are true and will be released in the near future. If so, I expect L-88 prices to double in short order... Leaving me SOL unless I do something soon.

I certainly don't look at it as an investment... As you mentioned, there are investment opportunities available that will yield a much greater rate of return than any car could ever hope to. Still, that L-88 will appreciate in value (at least in the near future) which is something that can't be said for most cars. At the end of a lousy day, I can take that L-88 out for a drive, waste a half tank of fuel, and return with a smile on my face... You can't enjoy a mutual fund or IRA in quite the same way. :)

For me, I'd say that is the primary reason that I hope to own an L-88 at some point in my life. I want to own a car that was instrumental in creating the Corvette racing legend... Both on the track and on the street.

Quote:

---

FOR $40K AND A FULL RESTORE... Sorry guys... I AM A GEARHEAD and I love my Corvette.... but I am not following the thunder on this thread..???? $40K gets you a fairly new Z06 that will put this thing to DEATH..... QUICKLY!

---

The current Z06 is a fantastic car, no doubt about it. GM has also produced over 20,000 of them since 2001. Currently available production records indicate 216 L-88s produced for sale... Also over a three year period. Next year, that $40,000 Z06 will be worth $35,000... Or maybe $30,000, who knows. And in that year GM will be building more and more of them.

GM isn't building L-88s anymore.

Regards,

Re: Found in barn L88 on EBAY (Rowdy Rat)
 

:iagree: I don't think it takes too much common sense to know that a '68 L-88 convertible is a much more desireable car than a new Z06. :rolleyes:


[Modified by The_Dude, 8:59 AM 5/8/2003]

Re: Found in barn L88 on EBAY (Robert N)
 

I just bid $100,000 for the car. I know a good deal when I see one. I hope my credit union is understanding!

:D

Re: Found in barn L88 on EBAY (Rick Church)
 

Rick, don't take this the wrong way, but I've seen some of your posts... DON'T WORK ON THE CAR YOURSELF...LOL

Re: Found in barn L88 on EBAY (mvftw)
 

I've always found that doing a simple job three times in a row or a tough job four times reinforces the learning curve. My learning curve is so verticle I keep falling off. Help me Obiwan Kenobie.

Re: (kaiserbud)
 

The L-88 was concieved as a race car, and the few that were converted to actual race cars (both drag and road racing) are worth A LOT more than a regular L-88. The 3 or 4 that were at Monterey last year all had log books with extensive history (LeMans, Daytona, etc...), and I understand the guy that owned them paid low-mid 6 figures for all of them. Of course the engines were replaced (probably many times!), but the value would be way up there due to the uniqueness of the car itself.

Hans

Re: Found in barn L88 on EBAY (Rick Church)
 

For those that are interested, I am trying to do some research on this car. I have had several emails with the seller. As has been mentioned, if the car is legit, it is a nice find.

My thoughts as to the common sense of spending $40k on a basket case, I spent $12k on a NOM 70 LT-1. :crazy: ? Maybe. But a well document piece of Corvette history was worth it to me. It is no different that some guys spending $25K redoing a 1980 or spending that kind of money on building a 700hp engine. The latter 2 make no sense to me. It is a matter of perspective.

The car is by no means an investment. It is a want. If it appreciates, great. If it depreciates, oh well. The likely hood is, hopwever, that these cars will allow me to breakeven 20 years down the road.

Robert

Re: Found in barn L88 on EBAY (Paul Borowski)
 

:iagree:

Re: Found in barn L88 on EBAY (SBR)
 

Stan, I have said for the last couple of years that L88s are undervalued if you compare them to ZL1 Camaros which are valued at 250K+ and Hemi Cudas which are 125+. I won't even mention a Hemi Cuda conv. that traded for 1 million dollars or LS6 Chevelle convs. for 200K. I agree that if the records are found that real L88 values would double right away. I truly hope that you can find the right car for the right price. :cheers: I am still kicking myself for passing up a 69 Lemans blue coupe that was Gold certified and a 20000 mile car for 70K right after 9/11. It had a replacement motor with the original on the side.


[Modified by SBR, 8:01 PM 5/8/2003]

Re: Found in barn L88 on EBAY (SBR)
 

God Why can't I find such Morons when I sell stuff, How and why would any-one bid to buy an old car site un-seen. Remember a restored car is not as valuable as a Survivor This may or may not be a real L-88 and why would any-one want to support such a slob as this seller is, Just look at the condition of the other items. Oh well as the saying goes buyer be ware and let some else find out the real cost of restoring an old car. Dam you can go out and buy a BB 73 vette for the fraction of the price, stick a cam and headers 100 more HP latter you are ready to enjoy the hobby. Hope the fool has more money then brains that wins this silly bid.

Re: Found in barn L88 on EBAY (vette_c5c6)
 

Man, this really has had quite the attention. I can see it true. Think of the possibility of a richer family in the late 60's, early 70's; dad gets son a newer corvette for graduation- explains the tassle on mirror. Radio gets added- kid part explains that. Been wrecked and painted- inexperienced young driver with lots of power explains that part. Possibility? I think so....

Re: Found in barn L88 on EBAY (SBR)
 

that is a sweet car. If I had the money, I would try to great lengths to get it. Who ever ends up with it, will have a definate trophy car.

Re: Found in barn L88 on EBAY (Robert N)
 

Robert, until the Chevrolet documents come to light, I'm not so sure I'd believe ANY DOCUMENTATION these days!!! Tanks stickers, protecto-plates, shipper copies, dealer window stickers ARE ALL BEING "REPOPPED"(aka...forgeries)now a days. All I'll say is there are many, many Corvettes out there THAT ARE NOT WHAT THEY SEEM TO BE :skep: :skep: :skep:


[Modified by Paul Borowski, 9:42 PM 5/8/2003]

Re: Found in barn L88 on EBAY (Paul Borowski)
 

:iagree:

Re: Found in barn L88 on EBAY (Rowdy Rat)
 

Excellent replies... I thought for sure I would get flamed for being the "ANTI L-88 GUY" I'm not. I think the L-88 is bad asp... At first I thought it had nothing to do with the money... I thought... "it's not the money... $40K isn't so bad for a rare car...." Then after reading your posts.... IT is the money. I would have a real hard time spending this much for this car. Hell... my Sport E320 probably handles better than this thing.... but then again......

"they never have parades with a bunch of Mercedes' driving down the street!" Good luck to the winner bidder. I hope this is the real deal and a Corvette Lover can truly own a piece of history!

:cheers:


[Modified by Mr.Gearhead, 3:21 AM 5/9/2003]

Re: Found in barn L88 on EBAY (Paul Borowski)
 

checking this morning...the price has not moved much but it should be interesting to watch with only a few minutes left!

Anyone willing to suggest what it will finally go for?

Re: Found in barn L88 on EBAY (hunt4cleanair)
 

I don't think it's going to "go for" anything. This auction is as fishy as the car being auctioned. The seller states that if the reserve is not met he will submit the high bid to the seller. I think the reserve has been set very high. I am not accusing anybody of actually shilling... but if the reserve is set unrealistically high, let's say $200,000, a shill bid will seemingly move the price up higher but will not trigger an ebay transaction. They could just be trying to entice some "real money" into the auction. The seller has no ebay track record. The car is poorly documented (I am speaking only about the information provided in the auction description, including pictures), and there is a lengthy list of items questioning the cars authenticity which were gleaned from an inspection of a few lousy pictures! This whole auction stinks! :( MJ

Re: Found in barn L88 on EBAY (hunt4cleanair)
 

"checking this morning...the price has not moved much but it should be interesting to watch with only a few minutes left!
Anyone willing to suggest what it will finally go for?"
________________________________________ _____________________

My bet is that bidding won't meet the reserve. If my hunch is right and this is a hoax, the reserve is set somewhere around $1,000,000 (we'll never really know will we?). This car may be the real deal L88 but I don't believe the owner is really intent on selling it. For chrisakes, the least he could have done was move some of that crap out of the way so that he take a few decent pix to post with the ad. For someone expecting somewhere in excess of $32K for this car, don't you think he could have taken some better pictures?... Especially of what really counts, like the numbers on the motor, a tank sticker, or ANY documentation that would convince a serious prospective buyer to travel accross country to take a look and make a serious bid on a REAL L88!!

Something else that surprizes me is that with only 80 '68 L88's known to have been produced that an L88 registry doesn't exist that documents the wherabouts of these cars. I bet 1/2 of them were raced and are now long gone. I just read where a registry exists for the '53 Corvettes and it accounts for just about every one of the 300 of them.

Re: Found in barn L88 on EBAY (Paul Borowski)
 

Paul,

I agree with the forgery issue. I also agree that this is a "fishing expedition' as mentioned to find a high bidder.

There are enough items that can be verified to determine if the car is NOT an L88. The fact that documentation could be falsified should not stop someone from looking. I am also interested in a title search. This could reveal a previous owner who would have first hand knowledge of the car.

Robert

Re: Found in barn L88 on EBAY (Robert N)
 

Lemansblue68, while there is no official L88 owners registry, there are individuals such as Rowdy Rat and a couple of others that I know of who have survey information on these cars. I would definetly consult with one of these individuals before making a purchase such as this one.