Stroh

So what is a non running 50,000 mile dusty all original LT1 worth?




I haven't inspected it or talked with the owner to find out what he's asking yet. But I wanted to get an idea of range before I do.

I'm not expecting to get it for a song or anything, but if the birdcage and frame check out and the motor isn't seized, I'm gonna make an offer. I'd appreciate the opinions of this esteemed panel before I go diving in.

As always thanks for the time and sharing your knowledge.

MelWff

price range is from 7,100 to 41,125 car collector market
add 40% for a real LT-1
manual steering deduct 3%
other options add various single digit percentages

price range 27,025 to 69,925 NADA

Solid LT1

Value is lower than if it were a LT-1 powered 71 Z28 from what I have seen at auctions. In this market? that car has some pin striping on it, you need to verify it is truly an LT-1 then find an overseas buyer for it.........

TMU

https://www.hagerty.com/valuationtoo...port?vbe=22712

Convertible
https://www.hagerty.com/valuationtoo...ort?vbe=106160

MCMLXI

it looks like it may be a convertible too

ignatz

Corvette Magazine appraises C3's periodically. If you like their number a copy of that data gives you a negotiating basis.

Easy Mike

I suppose the important question is whether the car is for sale.

jr9170

Don Rickles

The LT-1 decal placement isn't TFP.

Check it for repaint.

Alan 71

Hi,
From the wording in S's post it sounds like the car's for sale but he doesn't know what the owner has in mind….yet.
We really know nothing about it except it's described as an LT-! and has what appears to be a LT-! hood and stripe.
I guess for me it's value depends on just how original this "all original" car turns out to be after a knowledgeable inspection.
Regards,
Alan

Faster Rat

Said it many times myself. Not that overseas buyers are stupid...just that they appear to be the only ones left with any real money (you know, the kind that is actually worth what the holder thinks it is worth)and are willing to spend it.

Stroh

Hi guys,
Yes, easy Mike the car is for sale, but no price on the sign. And yes mcmlxi, she is a rag top.

I do have the corvette magazine December issue with the latest c3 prices, but I find that over the years the run a bit higher than blue book, haggerty, Hemings, and market value.

With so many televised auctions, seems to me that folks sitting on these old unrestored cars think that they're worth 100,000 because they see a pristine low mileage celebrity owned car sell for that.

I don't want to low ball the guy and offend him, but this is a car that looks to need 10-20 grand to restore it properly, if I'm including paint, which it appears to need.

I also don't want to start too high and shoot myself in the foot. So, I'm looking to you for a range... Would starting around 15,000 sound reasonable for a true lt1 with no cage or frame issues? I'm assuming an engine rebuild is necessary as it hasn't run for a long time. I think the guy might laugh me out of the barn if I opened with 10,000.

Again thanks for the consideration.

toylman

Here the latest from Corvette mag

Don Rickles

Good luck Stroh! Really an awesome find! Before you talk $$$, look it over very carefully or take someone that know LT-1 cars well along with you.

With the little information we have so far placing a number is tough. But I would start off low. Remember, you can always offer more but never less......

Also, assuming the engine needs to rebuild is jumping ahead of yourself. Seeing the other cars in the barn I'd say the owner knows a little about cars.

I'm excited to hear more!

Rescue Rogers

There was a L88 around here. 68 I believe that was a barn find original orange and the owner was able to get the engine running, thats all the add said. He wanted 18k which was hagerts low price. Hagertys condition 4 is 16k that is indriving condition.Maybe start at 13-14k. A regular 71 verte is 14k in the same condition so its close. I would bring a printout of Hagertys and tell him what you think is reasonable, he shouldnt be offended.

Don Rickles

What?
An L 88 @ 18k, no chance.

ed427vette

You think you can restore a car for 10-20 grand?? Good luck. Including paint? Engine is going to be minimum $5k for a rebuild, the carb is probably toast. Trans, rear end probably another 3k probably more. Paint, if it does not need a color change will be at minimum $10k to be done right. Everything else maybe another $10k-15k maybe more and that's doing most of the work yourself. On a "barn find" car expect to pay double what your estimating. Even if there is no rot everything has to be gone through. Every bushing, trailing arms, brakes, exhaust, vacuum system, interior. Also the engine not being seized does not guarantee it can be rebuilt. You only find that out when it comes apart and gets to the engine builder and he runs a few checks on it assuming its original.

When is the last time you restored a Corvette? Prices for parts are not cheap. I'm in the middle of doing my car and doing everything myself except paint and the engine/trans/rear diff rebuild. Parts alone are at 10k so far. I'm not looking to make money on the car, I've owned it for 23 years and just want to restore it properly.

I'm not saying not to buy it but do not expect to make money on it if thats your goal. These things have a tendency not to work out like you think. There are better, easier ways to make a buck.

This car is for someone that wants to own an LT1 vert and wants to restore the car himself over time but cant afford a restored car now. It's not a money maker.

Rescue Rogers

At the time I couldnt afford a.non drivable.car for 18k. The guy had 2 posts with muliple pics of it in the barn with the windows open. I think the interior was trashed and covered in dust/dirt. Pics of it dragged out and the seperate.post.of it washed. He claims he got.it to run.but not drivable. Like I said I cant afford something like that so I wasnt interested in following up on it. Next time I will post it for the forums scrutiny. My image search skills strink. I tried to see if this is a scam
http://newyork.craigslist.org/jsy/cto/5310252841.html
But cant get my tablet to do fancy stuff like that.

Stroh

Thanks again, all.

As much expert advice as is available here, I knew it was a good idea to get more information from you all first. I understand that the details I've provided are limited, which handicaps your ability to estimate, but that's all the info I've got right now.

I intend to pay it a visit this weekend, see what's what. I'll include more details after that (hopefully after it's sitting in my garage). Truth be told this wasn't really the plan. I had hoped to trade my 75 (which I restored 2 years ago) and some cash for a really nice C5 convertible, buy a basket case chrome bumper convertible and do a slow restomod project while driving the heck out of the C5. That was the plan. But when this popped up I took a step back and reevaluated.

While I could definitely be wrong, I'm not sure that my $20,000 resto estimate was light. The guy assures me "it's all there" and though we've all heard this before, he seems to know what he's talking about and seems very credible. At first blush, there doesn't look like any body work will be necessary, doesn't appear the interior needs anything beyond re-dye / cleaning, new carpet and new seat covers, maybe foam. About $1500-$2000 for interior should get it. I assume a new wiring harness -- about a grand. New weatherstripping -- about $500. I loosely figured 10 grand for paint, and I'll use your figure for the engine rebuild of $5000. That's $18,500 with hoses, suspension, and breaks to go. Hopefully the transmission and diff. have no issues, but a ballpark of $20,000 seems reasonable.

If I can get it for 15,000 to 20, and even if I put 20 into it after that, I think I've come out ahead. A $50-$70,000 car for around $40. And I get the joy and education of putting all back together with nothing bubba'd.

For me that's a lifetime car. If it's all original, a true LT1, in exactly the color configuration I lust for... if it's got air... I know that's a lot of if's and I've already bought it in my head twenty times... But if the if's add up, I'm buying it. The question is for how much.

Again many thanks, gentlemen, and any more input is certainly welcome.

hzz

Air wasn't available in a 71 LT-1, not until 72.

From my experience, if you think it will cost you 20K to restore it, the real cost will be double that.(sometimes more than double)

If this is the car of your dreams,that you want to keep forever, then the cost of it isn't that relevant, within reason, because by the time you go to sell it who knows where prices will be.

If the final cost of resto is 50K, and the car is worth around that, you'll be doing OK.....providing you keep it for a while.

Just my 2 cents .