What Would You Do? 1958 Chevrolet Corvette

UPDATE 5/19/2020 – We featured this Corvette project way back in 2018 when it was listed on eBay with a $28,500 asking price. It’s still located in Virginia Beach, Virginia, but it now has a $30k BIN and the option to make an offer. It doesn’t look like much has changed since we listed it last, but these don’t come up for sale that often, so we thought it might be worth a second look! You can find it here on eBay and special thanks to Ikey Heyman for letting us know that it popped back up!

FROM 4/24/2018 – I suppose you could leave this 1958 Chevrolet Corvette alone cosmetically, except for the areas where it looks like the body mounts are damaged, but that’s not your only issue with this one. It’s listed for sale here on eBay and is located in Virginia Beach, Virginia. There’s a buy it now price of $28,500, but it’s far more likely that the seller will accept an offer lower than that. This is one I could restomod without guilt — do you agree?

I couldn’t figure out whether to start with the good or the bad first with this one, so I’m just going to dive right in and go back and forth. To begin with the seller seems to be very honest about what they do and don’t have. In their words: “ORIGINAL 58 CORVETTE ROLLING BODY. FRAME IS RUSTY, BODY HAS HAD LOTS OF FIBERGLASS REPAIR AND WILL NEED MORE TO BE READY FOR PAINT. NO MOTOR OR TRANSMISSION.” Okay, yes, I know they were yelling, but still. That’s a pretty honest and open assessment.

One other thing nice about seeing a Corvette without a lot of paint in the way; you can see exactly what you are up against.

The seller tells us that this is a 1962 gauge cluster in the dash. I’ll have to take their word for it in this picture, but it does show up in this blurry one.

As they say later in the ad, “THIS IS NOT!!! A PERFECT BODY AND IT WILL REQUIRE A SKILLED BODY MAN TO GET IT READY FOR PAINT.” I think that’s a statement I can comfortably agree with. However, it is a C1 Corvette and could be made into a restomod quite easily. I just don’t think this is the car I’d pick to try to restore as original.

I’d like to know exactly what the seller means by a rusty frame. Sure, there’s surface rust here but it doesn’t look horrible. However, based on this buyer’s guide I’d sure want a better look underneath. I’m just not sure this is the Corvette I’d start with, but perhaps you differ with me? I’d love to hear from you with your opinion in our comment section below.

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Comments

  1. Steve R

    This seller has a nice eBay business selling Corvettes and parts. It probably is as at least close to the condition described.

    Steve R

    6
  2. SAM61

    Ditto on the restomod…probably less money in long run.

    These should be tagged “Body by Bayliner” instead of “Body by Fisher”.

    8
    • ACZ

      Fisher Body did not build Corvette bodies.

      5
  3. Mark

    Restore it!!!!

    3
  4. Over the top

    Buy one restored

    11
    • Will Fox

      I agree. For your money you are far better off buying the very best `58 that is restored that you can afford. As it sits, this `58 needs well over $100K in restoration, but it would never sell for what you have into it. Especially since there’s no engine/tranny. That alone hurts this Vette’s chances at a sale.

      6
      • Ray

        A lot of work there for sure I think it’s priced way to high fully restored you could never recoup your money invested since no numbers matching and all.

        4
  5. Ron

    I’d walk away from this one at this price. What are you getting here a vin and a title ? And a lot of headaches.

    11
  6. michael streuly

    $28,500 dollars for that piece of crap. $2800.00 maybe.

    24
  7. jw454

    It sounds like it’s just a bunch of parts that were thrown together to make a rolling bunch of parts. Also, whether or not it has a transferable title/registration sounds a bit sketchy.

    7
  8. nrg8

    I think the chrome is holding this one together…..

    4
  9. Ed

    20k for a modern frame, brakes. Another 20 for a new drivetrain (Ramjet 350 plus Tremac?) 5 for interior and chrome, 4 for new top, 12 for new front end and body work, 3 for trunk Spears, 9 for paint
    That’s 73k total and the restored car would be worth maybe 100k. I’d want 20% profit to restore, resell so IMO, she is worth 7-10 as is.

    4
  10. Rube Goldberg Member

    Just another blatant example how bakocked this hobby has become. This thing isn’t worth this kind of money, HOWEVER,,,it is a ’58 Vette, mostly, and like the A-H( which I think, as crazy as it sounds, a much better deal for the same money) you want to play, you have to pay,,,I think these are the coolest Vette’s made, but at these prices, we’ll never know what it’s like to drive one. With inflated prices like these, I’m almost ashamed to say my hobby is classic cars.

    8
    • canadainmarkseh Member

      I have to agree Rube, this hobby is gone a little off the rails, but I think that there have alway been investment buyers. I think what’s changed are people’s interests, when I was a young guy there were no computers to speak of and a lot more young guys with abilities to do the work themselves. I’m not saying that there are no young guys that can DIY this car back together, I’m saying there are a lot less of them that are interested. As Ed pointed out to have someone do it for you. Prices are a rich mans game. This is where the problem lies most people don’t know how and they don’t want to know how. As for this car all you got here is a pile of parts and you are going to have to add to that pile greatly to turn this into a car. That said it is redicules to think this is worth $28k I know its iconic but really that when its all done right know it’s hopes and dreams nothing more. As far as nestelga is concerned this Is a bubble that is going to pop as all us boomers die off. Young guys today for the most part are going to relate to the cars they grew up on. They won’t want these underperforming trailer queens. Look at what is happening to all the pre war car pricing, there will come a day when you can’t give them away and a picture in a book will suffice. JMO.

      5
  11. Blyndgesser

    At $5000 it would be a great start on a restomod. Drop it on an Art Morrison chassis and stuff an LS3 in it. But this is just nuts.

    6
    • JC

      That’s my dream…Art Morrison chassis and an LS under an early corvette! But, at that asking price, no way. It’ll just remain a dream. I agree with 5k though.

      8
  12. Mountainwoodie

    What a n do you do with it? Sit in your driveway and pretend?

  13. chad

    he doesn’t seem 2B hiding much, but there’s not much there. No idea if it’s priced correctly.
    I like the pre 64s best as they still have the (2 me) ‘euro-rear end style’.
    Incorrect dash is OK.
    How bout it ‘vette guys – 1/2 that price? Another era drive train?
    (Would like to play w/the correct Carter side drafts, orig drive train, etc tho
    AND my pockets R not that deep!)

  14. George

    gasser 409 style

    3
  15. mike D

    before I did any reading, I saw the pic and said ” wow” then… went to the ad… uh, no… I am sure it was a pretty car when new , it being a NY car, was probably used in all seasons , most likely not worth the effort the minute I see ” rusty frame, or bent frame .. that is all she wrote

  16. Ron

    Rube you are so right. At 72 I guess it is finally over for me. As a young man I was busy working hoping one day to own maybe one of these or a 58 Impala aor a Bonneville. To busy and never made th kind of money in the day to raise a family and afford one when new and when I got old the opportunists and money finagulers have finished he hope and the hobby off. Sad to say I never will own one. But life has been good and I had the dream. I’m done let the Pebble Beachers and the B.J.s have it

    2
  17. Steve H.

    Would much rather have that red Caddy convertible sitting next to it.

    2
  18. gbvette62

    I know the seller of that car. He has been in the Corvette parts business for a very long time, and manufacturers some very high quality reproduction parts. He is very honest, and always accurately describes what he’s selling. He also knows what cars and parts are worth, and prices them accordingly.

    It is missing some very expensive original parts, such as the 58 only washboard hood and trunk irons, and seats. Those items alone will set you back over $6000, if you’re attempting the restore the car.

    While I agree that the body is very rough, I don’t think the asking price is out of line, and wouldn’t be surprised to see him get it.

    Considering that people are buying restored solid axle Corvettes for upwards of $60,000, and then tearing them apart to build resto-mods, $28,000 is a fairly low starting point for one.

    3
    • Duffy Member

      gbvette62, you must be his son.

      7
      • gbvette62

        Sorry, no relationship to him at all. In fact, he’s a competitor of mine. We’re both in the Corvette parts business.

        Personally, I much rather see someone buy that car for $28,000, and turn it into a resto-mod, then cut up a stock original car.

        One of my customers is a Corvette shop, that has been building resto-mods lately. He’s finishing an amazing 59 right now, that the owner bought two years ago as a beautifully restored 59, for $65,000. They sold the stock frame, engine, trans, seats and some other odds and ends, for about $10,000, lowering the starting price of the project to $55,000.

        So what makes more sense, starting with a 59 you have $55.000 in, or this $28,000 58? To my way of thinking, it’s a lot smarter to build a resto-mod from this car, than a previously restored one.

        6
  19. Ron Wheeler

    This project and price really tells us how much our dollar is worth, nothing!

    Name is not a business. What I used to really like, old cars. This century has turned me off.

  20. Bob Mck Member

    If it didn’t sell for 28.5, I wonder if it will now sell for 30. Lots to be done. It is cheaper to buy one already done.

    1
  21. 70SuperSport

    You’re getting a shell, not a good one at that.

  22. Benjy58

    If you are worried about Corvette prices wait there should be a bunch of cars for sale cheaper as this virus keeps people stuck in their houses with little money. Another thing to remember are the people who paid a millions for hemi cars that are less than a quarter of todays prices.

  23. Steve Bush Member

    So now he wants $30k for this already grossly overpriced POS. And he has the nerve to say, “Jesus Loves You,” in his ad. He needs to re-read what Jesus said about greed.

    1
  24. DRV

    You couldn’t use one piece of it except the serial plate for a show car. You wouldn’t need one piece of it for a restomod. Maybe some of the trim and the rear tub would bring a few bucks.

  25. Maestro1 Member

    I’m with those who think that the car was vastly overpriced in the initial offering, and frankly it’s not worth a hell of a lot now, and yes, the Hobby has
    gone off the rails. A lot of it has to do with inflation and the fact that the cars are diminishing in supply, yet the demand is still there. The Hobby as an asset class has approached 300% over 11 years. I’m watching to see what the Virus does to it. Let me remind that this is like fine art; there’s only so much to go around.

    1
  26. Stan Marks

    pasadena!!!

  27. Kenn

    Interesting that the only folks praising the price on this shell are Corvette parts dealers! Coincidence?

  28. JIM

    i have a 1958 in about the same condition, with Hardtop bought in 1974 for $600.

    since then found a correct and operating FI unit, washboard hood, and new available GM chrome. No spears, front bumpers or grille though.

    Stripped and primed the car in 1975, – pushed in corner, could not afford the parts to finish. will retire soon, so that that project is coming back to life with me doing most of the work. I just wish I put away $1k each year for parts, would have purchased the missing parts by now!

    1
  29. TimM

    Money pit!!!

  30. chad f

    “What would you do?”
    put in the Blueflame (froma truck just like they did) & 2 Carter YH’s, a ’61 grill, is a TH700-4L a non computer controlled OD?, disc up frnt – the rest ’58 vett. They had everything I liked ina vett at that point but these. The 1 yr trunk spears could come or not.
    Offer 5K$, hes an informed guy. Depends on if he wants to sell. Let ’em take U as far ar you’ll go’n walk away if too much~

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