Alas, for a number of reasons, a 38-year love affair is about to come to an end. I am selling my 1971 LT-1, but I am struggling with determining what a reasonable asking price might be. A friend of a friend (you know how that goes) who restores cars and deals with auctions told me it should be between 35K and 37K. NADA “average retail” is $42,585. I had it listed on the “C3 For Sale” forum for $36,500 and got no comments at all. That tells me that I was probably not very close. Any thoughts on what I should be looking for would be appreciated.

I hope I am not violating any Forum rules with this post. If I am, let me know and I will pull it immediately. I’m not trying to sell it here; I’m genuinely just trying to get advice from the best Corvette knowledge base I know of. Here is the text describing the car:

1971 LT-1 coupe. I am the second owner and have owned this car since 1972. I have made some changes to it, but have all the parts I’ve ever removed. Numbers match. The engine was blueprinted and balanced about 30,000 miles ago and has coated rods and pistons (0.030 over), stainless valves, MSD ignition and tri-y headers. I have re-done the deluxe interior using seats from a 1993 40th anniversary edition and added an 8-CD changer. It has a Richmond 5-speed with a 3.08 rear end (which gives an overall 1st gear ratio equivalent to the Muncie 4-speed with a 4.56 rear end and more top end than you would ever need). I have the original M21 transmission and 3.70 ring and pinion, the stock radio, shifter, carburetor, GM transistor ignition, seats, exhaust manifolds, etc. all of which goes with the car. The paint is Imron, using the 25th anniversary 2-tone scheme and the wheels are 1978 Pace-car look-alikes. The original color was Steel Cities Gray. This is a really nice car just the way it is, and includes nearly everything you would need to restore the original LT-1. It’s got a few blisters in the paint and about a 4-inch crack on top of the duck-tail, but is otherwise sound.

Thanks for your help.

Larry M.

 

It is worth what a similar LT-1 is worth in today's down market, less what it would cost to return yours to the way the factory built it. Of course IF you can find someone who likes the car the way it is, then you can get more.

 

Hi Larry,
I guess the big question is what was done to the pad if anything when the engine was rebuilt?
I'd think your car would be worth the kind of money you mention minus what it would take to get it back into original 71 LT-! condition.
Your price seems high for a modified car.
Regards,
Alan