Societal norms typically encourage people to be restrained and not shout their achievements and strengths from the rooftop. Modesty and subtlety are viewed favorably, but is the same true when a seller lists a desirable classic for sale? Such purchases are typically a luxury, and potential buyers need to approach them with their eyes wide open. This 1958 Corvette needs a new home, and the photos are encouraging. However, is the supplied information enough to encourage you to pursue it further?
Chevrolet sold 9,168 Corvettes in 1958, representing a 31% increase over the previous year’s sales record. It offered eight shades on the 1958 color palette, along with the same number of two-tone combinations. Our feature ‘Vette is 1-of-756 ordered in Signet Red and White, and it appears to be essentially complete. The hood features aftermarket louvers, but I can’t see any other obvious additions in the fairly limited photos. The trim is intact and restorable, and the Corvette features a color-matched hardtop. The fiberglass shows no signs of major cracks or distress, but the greatest unknown is the state of the frame. There are no underside shots, and the seller’s description runs to a mere six words. However, the car is located in a dry climate, raising the possibility that it might be rust-free.
The theme of flying blind continues when we delve into this Corvette’s mechanical specifications. The only supplied information is that it features a four-speed manual transmission. The engine bay should house a 283ci V8, but there are no indications whether this is the case. The gauge cluster houses a 6,000rpm tachometer and there is no Dual-Quad setup, suggesting that if this is a 283, the first owner probably selected the 230hp variant. As with the exterior, the drivetrain appears to be complete. However, it is unclear whether the engine turns freely or runs. The accumulated exterior dust suggests the car hasn’t seen active service in years, and while it may not be necessary, budgeting for a mechanical refresh as part of this project build would be wise. I can see potential buyers making great use of the seller’s contact details!
This Corvette requires a total restoration, which is reflected by its interior presentation. It isn’t missing any significant components beyond the hole where the radio should be, but a retrim is on the agenda. The wheel looks okay, and the gauges might be fine once fitted with new lenses. Kits to recapture the interior’s former good looks are readily available in the correct materials and patterns, but these typically retail for around $4,000. That isn’t cheap, but the interior should present well for decades if treated respectfully.
This 1958 Corvette poses more questions than it answers, and the seller has done themselves a disservice with the lack of supplied information. However, it appears they are approachable, which is encouraging for any readers wishing to pursue it further. They listed the classic here on eBay in Modesto, California. Their price of $45,000 means it isn’t a cheap project candidate, but the investment potential of these cars may make a follow-up worthwhile. Is that something you might consider?
The market is softening, the days of getting top dollar with little to no effort are hopefully coming to an end. If a seller wants to get paid, put in the work by writing a good ad, pushing it outside then take good pictures, washing and detailing your car and get it running.
Steve R
Has the wrong year hubcaps and a ’58 should have trunk bars.
The louvers you mentioned are correct for a 58.
1958 4-speeds didn’t have the revere lockout feature.
In addition, 58’s had a different grain on the dash, steering wheel, seat covers, and different seat frames. I found that out when I was restoring one back in the late 80’s. I found a set of trunk spears that were 2nd’s and had them rechromed. Saved a lot. No steering wheel but I found the seat frames. I can’t remember now if I found seat covers or a dash so I might have used 59 parts. It too was red and white and was an original fuelie.
Market is a little lighter, but quality cars will ALWAYS receive higher mark-ups. If you dream of the markets crashing and cheaper cars becoming available….dream on….dream on…..
You are right, quality desirable cars will always command a high price, as they should. No matter how much some people are rooting for a market wide crash, it’s just not going to happen.
What will become cheaper are the cars without a strong following. Any car where the main selling point is “it will draw a crowd at coffee and cars” will drop in value. There are so many affordable options available in good condition they have become a value purchase, where price is often the determining factor. Cars that fit that description have always existed, 40 years ago it would have been a 67 2dr Malibu with a 283, powerglide and a bench seat, today it’s a mid-70’s through late-80’s 4 door.
Steve R
Just a couple of quick observations. James Sartor is correct that the louvers are factory correct, and Russell Smith is correct that there was no reverse lock out function on a ’58. The other thing is that this car is WAY overpriced, even if all the unanswered questions were to be answered positively. A really nice ’58 is worth maybe 65 0f 70 K, and one is looking at in the neighborhood minimum 30K to just get this one to driver quality. I’m sure that there will be all sorts of disagreement on that assessment, but that is the harsh reality.
That hood is absolutely original. The ’58 was famous for the “fake louvered hood and the chrome suspender strips.” I sold mine in 1975 when I was in college and needed more money for my last semester. I got $2,450 for it. I was a marketing god of sorts. That’s why I became a commercial pilot.
Charles, I do agree with the number crunching and value. However, even with those numbers you still have room in the ballpark to make between 5 and 15K profit on the back end….possibly waiting on the market as it ebbs and flows, could be even more as we have seen from previous trending values
Between tours in Vietnam summer of 1968 I paid $1300 for a 58 vetted. That’s right…one thousand 300 hard earned bucks…it was rough as a weekend in jail but it WAS A VETTE..
Your trevails to get a ’58 are amazing.
I simply bought mine and flew in a piece of crap airplane to Fresno, Calfornicate, from Fort Wayne, Indiana.
My buddy and I enjoyed the flights.
Greg is still mad at me for trying to get the car home, some 50 years later.
But it was my airplane, and he had agreed.
I paid $860.
I sold it three years later, or so for $2,450.
The car sucked canal water.
Loose steering, two-speed automatic.
It was a piece of crap.
May not be the correct engine, definitely not the correct heads 58 would of had staggered bolt pattern on the valve covers. Straight across pattern didn’t come out until late 59.
Funny, I can remember 55 or so years ago searching for Corvette valve covers without the offset fasteners to spruce up our ’59 and newer small blocks. Funny how time slips away.
It needs everything, even the super expensive trunk spears. Wrong motor, wheel covers, all interior except for door trim, driver side fiberglass , and a ridiculous amount of work make this 25k even if the frame is perfect .
Most of the comments and the owner don’t get it.
A 1958 Corvette is a time machine.
The fake louvered hood and the chrome suspender strips are what make this car special.
I actually didn’t like the one that I had.
The incredibly loose steering and the two speed Powerglide transmission were beyond the pale.
Still, I bought it from Ed Thiebauld( A GOD) for $860.
I sold it for exactly $2,400 as a last gasp, to pay for my final tuition in college.