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If it were a real model T (metal) I think I would. This one looks like glass so i don't think i would take the deal. The metal ones are worth much more than the glass ones. My brother has had a 75 on Craigs list for a couple of months, similar condition with no takers. he is asking 8500. If i understand your post you are not selling the car? If that is the case who cares what it is worth, enjoy it briing it to shows and if you really want to modify it save all the original parts so it can be put back to original if someone wanted to.
The Ebay suggestion was a good one, but it did not go far enough. Go to Ebay, search for 1976 Corvettes, the select completed items.
This will show you all of the 1976 Corvettes that the ads have expired on. You can see the actual selling price if the car sold, or the top bid if the car did not meet rerserve.
Find the car(s) that most closely match your car in options and condition.
I was really excited when I saw the exterior pics, until I saw the under hood pics.
Rebuilding that motor will cost you upwards of $8k, depending on what you do, and how well you do it.
If you're looking to sell, clean-up the motor with a budget of $1500 or so. You will get that back out when you sell it.
No wonder that guy wants to trade the Model T, everybody wants a Vette! Don't do it! He's probably gotten stuck in the rain at a show before!