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My 73 E just got a full mechanical rebuild from Jeff Gamaroth at Rothsport in Oregon. I spent $26,000 The RS spec Engine is awsome. Limited slip, drilled rotors, S breaks, original front mount oil cooler, new suspension, every thing is period correct and done right. the car drives better than the Original RS I drove. What do you think this upgrade did to the value of my car? Is it worth more with the Original E engine?
Yes, to the right person -- and that person might be hard to find.
If you are going to sell be sure and let them know who did the work. A top racing shop (Gamroth - no extra a in the middle) should be worth something.
But, sadly, it is probably worth 1/2 of what you put into it, instead of 'just' 1/3.....
it is not uncommon these days for "hot rod" Ts and Es to sell in the $25K-$35K range.
Sounds like you're having fun; now for the truth (or at least my side of the story). :o
Return on your money should not necessarily be the goal when you perform a modification that is as significant as what you have done. What I'll assume is that you are happy with it and lets leave it at that.
However, stock cars should be worth more in the long run BUT, and this is a big BUT (no pun), like it has been written here, to the right person you might get your money back on a modified car.
Restorations and customizations are money pits. You are among good company here. If they tell you otherwise, they are lying. Pissing money away on our toys is a professional pastime for many of the folks here.
Be happy and don't worry about return because it is the worst torture you can subject yourself to in a hobby; especially an expensive one. Trust me, I know. ;)
Best,
Tom
Recent appraisal for insurance (Chubb) stipulated value policy on 73 E RS Clone came in at $73k. Comparables included signal yellow 73 RS clone sold by Dave Mohlman for 70k (salvage title) and 72 RS Clone sold by Autosport for north of $70k.
Hagerty "qualifies" the replica market by using the words "High Quality". Sticking flares on a car and slapping in a 2.7 engine does not qualify in my book and I woudn't take an application unless I qualified it with the underwriter first. Chubb is a good company but I question the logic of issuing a policy on a salvage title car. That's a black eye that you cannot hide from if the state where the car is registered is doing their job right. Of course, moving them back and forth across lines is another way of "hiding" the black eye but that's another story. The older the car the easier to hide it.
I firmly support whistle blowing on cars that I know have been damaged and hidden from the public's eye by unscrupulous dealers. There's one out there right now that I'm trying to find that was sold on e-bay and dropped (literally) off the carrier before it could be delivered; subsequently fixed (off the radar) and sold again! The car was literally bent in half. Amazing, the frame straightening technology out there today.
CARFAX is a good one and there are others. Unfortunately, you can't do a car without a 17 digit VIN so it's buyer beware.
The guys that do them right (we have a few lurking here) do 1st Class work and do not cut corners. One that I am aware of being prepared currently has a real RS engine in it and is on the "Budget-Buster-Building-Plan". It is, however, being built for the right reasons (the sheer joy of doing it right and damn the cost!) and I would own it in a NY minute BUT it is the exception, not the rule when it comes to these cars.
Enjoy them for what they are but you should never expect to get every penny back. There is NO Black Book, Blue Book or CPI Book with RS Clone models in it. The "value" will always be based soley on what someone will be willing to pay at that particular moment in time.
Anyone care to venture a guess as to how many 427/435 Corvettes were actually built by Chevrolet? :D
Answer: Less than exist today.
Tom
Just a clarifiation. The car with the salvage title was not, to my knowledge, insured by Chubb. Merely used as a 'comp' to establish a value. All three cars were done with little if any regard to cost. Interestingly, the car with the salvage title was the most nearly perfect of the three, and as a lightweight clone, was nearer to a concours track car than the others.
I'm waiting to see if C(Cars) of P(Paticular) I (Interest) ever come up with a way to value these cars. I'm not doubting the worth but also know that examples vary widely in quality and finish.
Tom
Joe,
Do you have any pictures of your VG E?
IMO, as far as E's and T's go, a car with a properly built non original motor will increase the value of the car, unless said car is an ultra low mile museum example. With S's, I'd pay about the same for two equal cars--one of which has the original S motor and the other one with a properly built 2.7, 2.8 etc., motor. The only reason I wouldn't pay more for the bigger motor is the thought that others won't value it the way I do if and when it came time to sell the car.
Exactly!Quote:
Originally Posted by Steve Sanders
Tom