How Much Is This Chevy Worth?

By Robert Snowden

In my past View editorials, I've spent time discussing the impact the restoration of your Late Great Chevy can have on its future price structure ­ modified versus stock. Today I want to continue along this same line of thinking by establishing a fair market price for a Late Great Chevy, whether buying or selling.

Hardly a day passes that I don't receive a telephone call from a member wishing to sell his or her '58-'72 Chevy. The conversation usually begins with, "How much should I be asking for my car?" or "I want to buy this car so how much they should pay for it?" Now I enjoy talking to our members, but here's a case where I hate to commit myself. It's extremely difficult to place a value on a car from a telephone description. Sure, I can ask some general questions about body condition, paint, interior, speed options, etc., but unless I can see the car with my own eyes, it's pretty dicey to give a value.

After gathering all the information I can, it all comes down to that moment of truth; how much is it worth? Sure as the world, if I tell someone their car is worth $15,000 they will say, "I was thinking of asking $22,000." In the case of a buyer, I say, "I think the car is worth $15,000" and they come back and say, "The guy is only asking $5,000 so it must be a great deal and I had better jump on it right away." Suddenly I get this terrible feeling; what if I gave this member bad information? Maybe this car is really only worth $5,000. It could be a real basket case. You know the type: no floor pans, missing parts ­ one that will be more costly to repair than what it will be worth when completed.

Over the years I've learned that to be on the safe side, I'm better off to give both the buyer and the seller a wide range when it comes to pricing. This brings me to my next point. There are things the seller, or buyer, of a Late Great Chevy should always do. First of all, they should start reading all the ads they can locate with cars for sale. Of course they should concentrate on the type of car they are considering selling or purchasing. The classified ad section of Chevy Classics is an excellent place to start. I would also suggest publications such as Hemmings Motor News as a good source for collecting average market prices.

Second, I suggest they check several of the many collector car price guides. These guides are available on most newsstands. The prices in these guides are established by taking the average price of that year and model car from nationwide auctions. By doing a little homework, the potential buyer or seller should be able to establish his or her own price range on any given Late Great Chevy.

I have seen drastic price increases in the 1958-1972 Chevys over the past few years. More and more these cars are becoming sought after. But, there are still some bargains out there, so keep your eyes open. It appears that the strongest market is still the two-door hardtop and convertible, with the Impala line leading the way. Other key factors are; accessories and option packages; speed options are in; SS 409's are hot and getting hotter each month. If you find a Late Great that fits into the above picture, I would suggest you purchase it, (if the price is right).

Have you done your homework? Do you know what the average market value of your Chevy should be? If you're considering buying or selling a Late Great Chevy in the near future, you need to start doing your homework today.