Seeking Advice on a 1988 Callaway Corvette

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DropTheHammerL98
Posts: 8
Joined: Thu Dec 30, 2021 12:00 pm

Seeking Advice on a 1988 Callaway Corvette

Post by DropTheHammerL98 »

Hello,

I'm considering purchasing a 1988 Callaway Corvette. Here's what I know about the Vette:

Basics: Located in Fort Wayne, Indiana. Red on red. 48,000 miles. 4+3 Doug Nash. Z52 package. G44 3.07 rear end. And, obviously, the B2K option.

Exterior: There is no AeroBody, but it does have the Dymag wheels and all of the appropriate Callaway stickers and badges. From a distance, the car looks good. Up close, it's in rough shape, with clearcoat cracks in the hood and minor fiberglass damage in 2 or 3 places. The targa top has some paint bubbles. It's been driven hard and enjoyed. Nothing wrong with that! The Dymag wheels will need repainted and there is some curb rash.

Paint: D+
Body C+
Wheels: D-

Interior: Standard C4 issues. The usual driver's side wear and tear on the leather. Some cracks in easily replaceable plastic parts. No dash cracks. Needs cleaned, but it could be a lot worse.

Interior: B-

Engine: The turbos were rebuilt by Evergreen Turbos in FL. Due to inclement weather, I haven't had an opportunity to drive the car, but it started easy in the shop. There was a plume of blue smoke on start-up, which likely means an oil leak somewhere. I'll almost certainly need to have the car inspected before purchase.

Underbody: I haven't been able to get it up on a lift yet, but I did notice a small hole in the exhaust.

They're asking $35k for the car. We're far apart. Given the obvious work required plus the unknowns, (plus what C4 ZR1s are going for), I'm closer to $20-25K. They're willing to take my near mint 89 C4 on trade ($10,500). Both Vettes have 48,000 miles.

I'm new to the Callaway world, so any advice or help ya'll might be willing to offer would be tremendous!

Thank you
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Dakota Aero
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Re: Seeking Advice on a 1988 Callaway Corvette

Post by Dakota Aero »

DTHL98:

You are in the same spot I was in before buying my B2K.

First, you will have the support of the COG brothers. I have received a lot of advice and help.

Second, mine started the puff. If this one has set for awhile, it is probably the valve seals. Mine dried out and needed replacement. Some were cracked and broken. The old compressed air in the spark plug hole allows them to be replaced without having to pull the heads. While that was happening, it makes sense to replace the fuel injectors with upgraded ones that can handle ethanol. Search the site there are topics on where to get the best ones. As a precaution, you may want to do a compression check.

Third, I believe you are on track to not pay asking. Without Aero Body, that's at least 12k without paint. The body repairs and paint will be expensive to fix.
Search Bring A Trailer for past auctions results for Callaway Corvettes. Dymags are worth a lot but should be refinished to preserve them. Ye Olde Wheel Co is out of business so i you will have to work at that, more $. They did one for me, it was hundreds to correct a flaw and repaint.

Finally, if you do get it, put 2 3/4 or larger exhaust and it will shock you how hard they pull under pressure.

Good luck with the deal. They're are others that will come in who have much more knowledge.

Dakota Aero

PS you can contact Callaway Cars in Ct. to get information on that specific car in the registry.
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SurfnSun
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Re: Seeking Advice on a 1988 Callaway Corvette

Post by SurfnSun »

$35k is way high for that condition. With bad paint and glass damage, Id target the car in the 18-20k range. You will need to replace injectors, oil and coolant lines, tires etc. It will take time and money to get it road worthy again.

Is it number 82 by chance?

There is an 87 Vert on Corvetteforum for $25k that looks to be in excellent condition. The 87s have lower hp but still have the same turbo frame available...now upgraded with ball bearings. If you were going to by one of the two Id take a hard look at the 87.
DropTheHammerL98
Posts: 8
Joined: Thu Dec 30, 2021 12:00 pm

Re: Seeking Advice on a 1988 Callaway Corvette

Post by DropTheHammerL98 »

Dakota Aero wrote: Thu Dec 30, 2021 1:34 pm DTHL98:

You are in the same spot I was in before buying my B2K.

First, you will have the support of the COG brothers. I have received a lot of advice and help.

Second, mine started the puff. If this one has set for awhile, it is probably the valve seals. Mine dried out and needed replacement. Some were cracked and broken. The old compressed air in the spark plug hole allows them to be replaced without having to pull the heads. While that was happening, it makes sense to replace the fuel injectors with upgraded ones that can handle ethanol. Search the site there are topics on where to get the best ones. As a precaution, you may want to do a compression check.

Third, I believe you are on track to not pay asking. Without Aero Body, that's at least 12k without paint. The body repairs and paint will be expensive to fix.
Search Bring A Trailer for past auctions results for Callaway Corvettes. Dymags are worth a lot but should be refinished to preserve them. Ye Olde Wheel Co is out of business so i you will have to work at that, more $. They did one for me, it was hundreds to correct a flaw and repaint.

Finally, if you do get it, put 2 3/4 or larger exhaust and it will shock you how hard they pull under pressure.

Good luck with the deal. They're are others that will come in who have much more knowledge.

Dakota Aero

PS you can contact Callaway Cars in Ct. to get information on that specific car in the registry.
Thank you! We're far apart, but if the seller comes down, I will have a full inspection performed on the car.
DropTheHammerL98
Posts: 8
Joined: Thu Dec 30, 2021 12:00 pm

Re: Seeking Advice on a 1988 Callaway Corvette

Post by DropTheHammerL98 »

SurfnSun wrote: Thu Dec 30, 2021 2:04 pm $35k is way high for that condition. With bad paint and glass damage, Id target the car in the 18-20k range. You will need to replace injectors, oil and coolant lines, tires etc. It will take time and money to get it road worthy again.

Is it number 82 by chance?

There is an 87 Vert on Corvetteforum for $25k that looks to be in excellent condition. The 87s have lower hp but still have the same turbo frame available...now upgraded with ball bearings. If you were going to by one of the two Id take a hard look at the 87.
I've reached out to the seller about the Callaway Number. I have the VIN but I don't have the build number. 1G1YY2182J5113196

I found that 87. That's how I'd expect a $35k Callaway to look. Beautiful car. I can live with paint chips and whatnot. But the car I'm looking at needs a total repaint and bodywork.
*89x2*
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Re: Seeking Advice on a 1988 Callaway Corvette

Post by *89x2* »

That VIN is car #88-082

Good luck w/ your negotiations, and thank you for starting this topic with the Callaway Owners Group :hi
DropTheHammerL98
Posts: 8
Joined: Thu Dec 30, 2021 12:00 pm

Re: Seeking Advice on a 1988 Callaway Corvette

Post by DropTheHammerL98 »

SurfnSun wrote: Thu Dec 30, 2021 2:04 pm $35k is way high for that condition. With bad paint and glass damage, Id target the car in the 18-20k range. You will need to replace injectors, oil and coolant lines, tires etc. It will take time and money to get it road worthy again.

Is it number 82 by chance?

There is an 87 Vert on Corvetteforum for $25k that looks to be in excellent condition. The 87s have lower hp but still have the same turbo frame available...now upgraded with ball bearings. If you were going to by one of the two Id take a hard look at the 87.
Confirmed. It's car 82. How'd you know?
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SurfnSun
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Re: Seeking Advice on a 1988 Callaway Corvette

Post by SurfnSun »

The car was for sale in 2014. I swapped texts with the owner but I wasn't in a position to buy it. I still have pics of the car. :beer
DropTheHammerL98
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Re: Seeking Advice on a 1988 Callaway Corvette

Post by DropTheHammerL98 »

Oh, do share! I’d love to know what kind of condition it was in then.
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sven-labil
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Re: Seeking Advice on a 1988 Callaway Corvette

Post by sven-labil »

DropTheHammerL98 wrote: Thu Dec 30, 2021 12:27 pm There was a plume of blue smoke on start-up, which likely means an oil leak somewhere.
My -87 does that, which is normal according to the Callaway owner’s manual:
IMG_4286.JPG
I think this is caused by oil leaking through the journal bearings in the IHI turbos after the engine has been turned off. (An electrical scavenge pump that could run until the engine had cooled down a bit would probably solve this mainly esthetical problem.) I don't know if this also applies for the later cars with Rotomaster turbos.
Ola Sjölander
1987 Callaway Twin Turbo #132
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