Value: 1978 Corvette - opinions?

I have been asked about value of a corvette, but the condition makes any reference guide pretty useless.

Any opinion of value?

Here are the details I have: 1978 Corvette - needs complete restore (paint, interior, dash, radio missing, etc. )

Specs: 86,000 miles L48 -185 HP starts and runs- no misses or knock Auto trans - moves car, no idea about condition Anniversary edition paint (needs to be stripped and repainted- not pace car) Power windows and locks A/C Factory aluminum wheels

Based on the L48 and auto I don't expect it to have any special suspension or gearing options.

I'm thinking pretty low, <$2k.

Thanks, Joe

Not a lot, but it's a bit sought after on account of being an anniversary edition. I think you're in the right ballpark (but you might want to ask over in the classic forum).

My wife sold her immaculate '78 L-82 several years ago for 12,500. I don't know if that helps.

I would think the deciding factor is the condition of the frame as those can rust something fierce. If the car needs mostly cosmetics but the frame is in good condition, it might be worth a little more.

I'd say your estimate is about right, maybe even slightly high. Depends what someone is willing to pay, I suppose.

In reply to jstand:

I bought an '80 for $1500. About the same condition. Ran and moved. Almost all the paint came off in flakes first time I washed it. I hated that car. Biggest pile I ever owned. I've owned alot of cars, to include a Staggggg. I did the brakes, paint, tires and installed side pipes. I now hate side pipes too. I think I got around 4k for it when I sold it. I think you are in the ballpark with your pricing. Late C-3's are the least desirable 'vettes, (especially '78-79's) followed by the early C-4's. Just my 2 cents...

Ok, thanks for the feedback.

I wanted to make sure I wasn't missing something

Ratty C3 + Duramax = Sublime Goodness

BTW they have plenty of room and a very stout frame....

you'd need to ditch the IRS but that trail has been well blazed by drag racers

It would easily fit into a challenge budget, undoubtedly.

Streetwiseguy wrote: It would easily fit into a challenge budget, undoubtedly.

And it had better be in this guise.

Threads like this are dangerous for me..I'm the right age that an early C3 was what a Corvette looked like when I was a kid. I know the late ones are crap, but I love the look so much I'm tempted to drag a late one home and just stuff an old 350 with a 4-speed in it.

Lucky for me, I remember that I'd have to rebuild every other damn system on a car (and probably paint it, too) I could find for less than $2K. I'm trying to avoid a story like frankenstangsghost.

Just out of curiosity, what's so bad about the C3s? I've always thought a clapped out C3 would make a neat racecar chassis.

Nothing is wrong with them. The earlier cars had the hotter engines and cleaner, classic style. The last versions had more ameneties and actually drive pretty well. The mid 70s had the least power. Frames all about the same. Easy to restore power to any of them and parts are readily available. Plenty were/are raced and a C3 was the basis for the fastest car to ever circle the Daytona banking-the Greenwood Super Vette with what amounted to a Can-Am engine.

friedgreencorrado wrote: Threads like this are dangerous for me..I'm the right age that an early C3 was what a Corvette looked like when I was a kid. I know the late ones are crap, but I love the look so much I'm tempted to drag a late one home and just stuff an old 350 with a 4-speed in it. Lucky for me, I remember that I'd have to rebuild every other damn system on a car (and probably paint it, too) I could find for less than $2K. I'm trying to avoid a story like frankenstangsghost.

If it was older, even just a couple years, then it would be a lot tougher to pass up. The notch back style and a 4 speed and I would be a lot more tempting.

As a kid, my uncle had a 68 with a 327 and 4 speed, and that is what I think of when someone mentions Corvette. When I first heard about this one, I hadn't been told what year it was, so I was hoping to see chrome bumpers when i saw the photos.

Even though I know values are going to go up on even the later C3 vettes, it's tough to justify a restoration of one that will cost as much as it's currently worth when completed.

I know the C3, especially the mid 70's and on, are the "least desirable" of Corvettes. But I have to say the '80-'81 is one of my favorite body styles of any car. Don't know why, but I just love them. I owned this one back in the late '90's-early '00's. Even took it to have wedding photos done. I still miss it.

OP, I think your pricing is pretty fair given the description of the car.

Agree, your price is in the ballpark. Be diligent in checking for rust. The frame kick-up in front of the rear wheels, front body mounts and especially the windshield surround (birdcage). This area is very expensive and labor intensive to repair. With the hood open, check at the bottom of the windshield. Look through the front of the windshield into the a-pillar area. Also, if the owner will allow, remove the front side kick panels and look down at the body mounts and back up into the channel towards the a-pillar. A little surface rust is OK, but any appreciable rot is trouble.

Excellent C3 Corvette Resource

In reply to Klayfish:

I agree. Im one of those guys who likes "least desirable" cars like mid 70s to early '80s Nova, Camaro/Firebird, Malibu, and Vettes. I think the late C3 Vettes are sexy especially in black. LSx swaps is the obvious but a 2jzgte or even 7mgte under the long hood would be awesome!

+1 on checking the frame in front of the rear suspension. If it's rusty, run, don't walk away.

And just keep in mind that it will cost just as much to restore as an early chrome bumpered C3, but it will struggle to be worth half as much when done.

A perfect resto will be a money loser. However, if you can paint on the cheap and salvage half of the interior you might do ok. Don't worry about anything being "correct", thats where the big money's spent (wasted). The motor's just a 350, treat it as such. Your price isn't to bad.

all good advice in this thread, but another thing to take into account is what others are selling them for - scope out your local craigslist for similar vettes - click on alllll the links, and check their ads - get an idea of the asking-price range, and also, see which ads have been running a while and also if you recheck now and then, which ones have disappeared - so you know what prices they actually sell for, and which ones are too high to sell. it may be my age, but whenever i see a vette going for 2grand or less (and i do see those once in a blue moon) i instantly start wondering which family member or friend will let me use their garage space to keep it haha.

also, if possible, try and determine how driveable it is - a car that doesnt need to be trailered away will sell quicker than a non-runner. if the motor runs fine, give the trans a run or 2 around, and see if she can be driven/hobbled away. will definitely help sell her. though then you may be hit with a moral quandry - do you let that 17yr old with $2000 cash and big dreams and wide eyes buy your old project hell vette, w/o knowing all the E36 M3 he's gonna have to redo/replace/troubleshoot/fix/etc.....hehe

After reading the input for everyone here, and getting further info on the condition, my father has decided to look for a less involved project.

The current owner thinks it's worth $4k, and for that price it can continue to sit in their back yard.

Thanks again to everyone for their input. Joe

In reply to jstand:

o sorry, i totally misunderstood, i thought you (or a family member/friend of yours) had this vette, and were looking to sell it...

doh

jstand wrote: The current owner thinks it's worth $4k, and for that price it can continue to sit in their back yard.

I see very few vette's for under $5k. People think they've got a Corvette and it's worth something, even if it's sitting in a field rotting into the ground.

1988RedT2 wrote:

jstand wrote: The current owner thinks it's worth $4k, and for that price it can continue to sit in their back yard.

I see very few vette's for under $5k. People think they've got a Corvette and it's worth something....

and by virtue of that fact they are worth something.

It's all about perception folks. There's nothing intrinsic about that car that makes it worth less than say a Hemi Cuda or a Duesenberg

Maybe an option- around here in Florida anyway- I've seen quite a few cheap, early C4s lately, like many running/driving examples in the $2-3k range. Performance wise, the chassis/suspension is about 1000% better. The cross-fire and early TPI induction systems are lame, but anything under the sun will swap into them from a traditional small block, to big blocks, to LT1s and LS1s. The interiors are cheesy and the digital guages are putrid, but that can all be improved. The biggest challange to a C4 build are transmission swaps, due to the torque arm, but that's what they make welding machines for.