Ok so I have been watching the marketplace for about 6 months now. I have a feeling for general values. As I'm searching for a Formula I've been researching them from all over. I can fairly well predict stock cars with various mileage and condition, outside time capsule cars, but I have no idea on modified cars.
The car in question is a Formula that has had near $25K invested in "professionally installed" extras, engine, transmission, powder coating and paint work. Odometer reads 132K with a used 70K mile 3.4, used 65K mile Getrag 5 speed, new clutch, replacement hood, overall new paint and replacement interior with a clean used example and Mr. Mikes leather seat covers, digital dash conversion. All done at TFF in 2013. (sounds like they started with a less than clean car needing hood, paint, interior) Lots of powdercoating including suspension was done at a second shop. Big corvette disc kit front and rear, lowering coils, urethane bushings, good looking but cheap aftermarket aluminum wheels and a "custom stainless exhaust" all installed by what the owner called a Hot Rod Shop. The current owner bought it from the hot rod shop with 5k miles added since it was at TFF. I have to assume it was some sort of mechanics lein sale. He has a stack of receipts from the past building owner who he claims was anal about the build according to the shops he contacted looking into the car.
It is a super clean car, fresh paint, good tires, the 3.4 and all the TFF stuff is a pro install and I cant argue with extra power. It is black and grey and 5 speed, perfect! Hate the dash but he said he has the stock gauges. Speaking with the owner I got the feeling that the folks who worked on it after TFF were not total pro's. He seems to not be a car guy, though claimed to be a Pontiac man, but I get the feeling hes just a guy who thought owning one would be cool, until it wasn't. Said a ball joint let loose as there was no cotter pin, I think it freaked him on the car. So Id expect some things need fixing, including the A/C which leaks down fast he said. It is 10+ hours away. Pretty firm at $7K. The N.I.F.E price for a Formula in excellent is $3600 which seems to be where they sell on eBay give or take a thousand or two if they are nice, clean, moderate miles and well optioned driver quality cars.
I was interested just by the pics but having talked to the owner I have cooled on it a lot. Where do cars like this fall in the marketplace? Is it worth double book? It would cost me a lot to add the same brake/motor upgrades to a stock car. Can I get a nice stock car to look like this with extra power for $3500 in upgrades? Are modified cars a pain? There seems to be endless threads on PFF about cars with swaps that do not run well or at all. I known have to keep a list in my chevy so I can remember what source cars all the different bits came from and I built it.
All opinions appreciated.
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