Rair Lt1

I'm in the process of renewing my insurance and am trying to determine the value of my Corvette. Of course to me it's priceless since I have owned it for over 20 years and first rode in the car in 1972 when my uncle bought it new. Prices seem to be going up a bit recently and I cant find an exact comparable car so I'm looking for reasonable opinions.
As the title says it's a 72 LT1 ragtop with A/C, power windows, power brakes, power steering, AM/FM stereo, P02 hubcaps, saddle vinyl interior and Sunflower yellow exterior.
This is a fully documented original paint, original interior, matching numbers drivetrain (except the carb, steering wheel, and stereo but I have the originals). It was BG Survivor Certified, and won two other awards that year for best documentation and best photo album.
Here are a few pics.
Thanks for looking
Scott

Rowdy Rat

Scott,

Very nice car! I'd like to hear more about it.

I'll save my comments for a bit... I'm curious to see what kind of answers you get.

Regards

Stan Falenski

20mercury

If you go to Haggerty classic car insurance valuation and scroll through and select, you end up with this:

https://www.hagerty.com/apps/valuati...vette?id=82402

Haggerty says $35,400 avg price for a 72 LT-1 and add $7000 for a/c.

Condition of course can greatly influence value too.

I think Haggerty values are high, but this would be a good resource for insurance valuation purposes.

Hope this might help.

Nice 72 LT-1 with a/c too!!! Congratulations!!

ed427vette

Very nice car, but the first thing you need to do is get rid of that steering wheel and put an original one in its place.

Hagarty is too general to get any kind of accurate value.

The LT1 with air is rare as you well know. In a convert body its very rare. I don't know what a standard 72 LT1 would sell for but your car would have to be on the highest end of value. A wild guess on price would be 50-60K for a fully documented, original drive train, mostly original component car. But that's a guess. Yours could be higher in that its a survivor. I personally like and would pay a higher price for unrestored condition.

danthony

Well I believe about 240 LT-1 with air were produced in total not sure how many were convertible.

You have a rare car.

Alan 71

Hi,
Based on what I read…. maybe $125,000 if it's still in that "Survivor" condition.
If you extrapolate the convertible production numbers, having to actually REPLACE it would be pretty difficult.
Regards,
Alan

JohnnyQuik

I don't think you mentioned which company you were negotiating with. Assuming it's an agreed value collector car policy, you really just need to weigh the cost of the policy with what you'd accept to total the car out. Obviously, a being a near original 72 has value since you can verify the VIN, and "survivor" cars are popular at the moment. A factory AC LT1 is rare indeed, and the convertible makes it even better. That car brings big money at the right auction. Now, if you wreck it, how much money would you be willing to put back in it to fix it before you said the hell with it and walked away? How about diminished value since it would likely be worth about half what it is now after being rebuilt?

rvazquez

I know a very nice original 1972 War Bonnet Yellow coupe w/air sold here on this forum for right at 60k, I would think yours, being a convertible, would bring a little more.
Regards
Roy

Rowdy Rat

The big question of course is "how many?"

Depending upon which source you believe, there were 240 or 286 1972 LT-1 Corvettes built with air conditioning. Of those, there were probably 40 or so convertibles (I believe Drew Papsun has 57 or so in his survey, but I know not all of those are verified or documented... So that number is most certainly lower).

As far as what a a 1972 LT-1/C-60 convertible is worth, of the last seven sales I am aware of (real, documented cars with no excuses), only one of them sold for less than $100,000 and that car was sold through this forum (I can't tell you how many people I tried to convince to buy that car). The last sale I am aware of was at $150,000.

Is your car worth that? Probably not, but if it is the documented, original car that you say it is, I guarantee you it's worth a bunch. Lots of coupes to choose from... Not so many convertibles.

Very nice car.

Regards,

Stan

Rair Lt1

WOW, Thanks for all the responses. Those numbers are a bit of an eye opener, and it looks like I'm grossly underinsured, I had no idea that any 72 would break the six figure mark. I guess it comes down to this as JohnnyQuick stated above

"you really just need to weigh the cost of the policy with what you'd accept to total the car out. Now, if you wreck it, how much money would you be willing to put back in it to fix it before you said the hell with it and walked away? How about diminished value since it would likely be worth about half what it is now after being rebuilt?"

I guess for my way of thinking it'll only have it's original paint once and if it ever gets wrecked and needing bodywork, the value will drop substantially, but there probably isn't any insurance that will cover that. Also, in the event of a total loss I could never replace "this" car, so I would need to figure out what I would accept as a total? in regards to being wrecked or damaged, I'm sure that almost anything can be fixed for the right money...who would have thought my uncles old Corvette would be worth much to anyone but me???