71 LT-1 Convertible Value
Thread Starter
Melting Slicks
Joined: Feb 2004
Posts: 2,111
Likes: 32
From: Damascus MD
71 LT-1 Convertible Value
I could use some opinions.
Car has tank sticker and is no doubt an LT-1 in Nevada Silver. Has a new GM low HP crate engine in it now and comes with a totally correct albeit re-stamped and rebuilt correct LT-1 motor with correct intake. Dates are perfect for the car.
Current engine runs perfect but nothing real special.
No carb LT1, one exhaust manifold. Has both but one is cracked.
New Gm gas tank. Front and rear suspension redone but far from what was original.
Orignal M21 resealed and shifts perfectly. Non-original rear with 4:11 and 7 leaf spring.
Manual Steering and brakes with no options. New brakes.
Needs a total repaint. Body is truly a no hit body. Front grills need replacing. Frame is in very nice shape. Needs a total repaint.
Comes with some parts and Al knock top, carpet, and seat covers.
Interior parts, except for carpets is all salvageable except the dash pad. Missing interior quarter trim which is really tough to find.
Has brand new BFG RWL tires and the rally wheels are powder coated.
Opinions on value are very much appreciated.
Thanks, Bill
Car has tank sticker and is no doubt an LT-1 in Nevada Silver. Has a new GM low HP crate engine in it now and comes with a totally correct albeit re-stamped and rebuilt correct LT-1 motor with correct intake. Dates are perfect for the car.
Current engine runs perfect but nothing real special.
No carb LT1, one exhaust manifold. Has both but one is cracked.
New Gm gas tank. Front and rear suspension redone but far from what was original.
Orignal M21 resealed and shifts perfectly. Non-original rear with 4:11 and 7 leaf spring.
Manual Steering and brakes with no options. New brakes.
Needs a total repaint. Body is truly a no hit body. Front grills need replacing. Frame is in very nice shape. Needs a total repaint.
Comes with some parts and Al knock top, carpet, and seat covers.
Interior parts, except for carpets is all salvageable except the dash pad. Missing interior quarter trim which is really tough to find.
Has brand new BFG RWL tires and the rally wheels are powder coated.
Opinions on value are very much appreciated.
Thanks, Bill
Le Mans Master
Joined: Jan 2007
Posts: 5,485
Likes: 7
From: Peekskill NY
Really hard to put a $$ amount without some pics.
A re-stamped engine is a value killer unfortunately. You don't truly know if it's the original engine that was rebuilt, decked and re-stamped.
What ever the price, add what it will cost to restore it, but don't pay the LT-1 premium because of the engine. Are there any original parts, ie; the rear diff?
Figure a properly done great paint job 8K-10K. Pull the body to paint the frame, add e few more thousand just for starters.
A set of front grills $400 plus each.
Good luck
A re-stamped engine is a value killer unfortunately. You don't truly know if it's the original engine that was rebuilt, decked and re-stamped.
What ever the price, add what it will cost to restore it, but don't pay the LT-1 premium because of the engine. Are there any original parts, ie; the rear diff?
Figure a properly done great paint job 8K-10K. Pull the body to paint the frame, add e few more thousand just for starters.
A set of front grills $400 plus each.
Good luck
Last edited by GD70; Feb 5, 2012 at 10:14 AM.
Team Owner
Joined: Jun 2000
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From: Southbound
Cruise-In II Veteran
Race Director
Joined: Jul 2004
Posts: 12,696
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From: Scottsdale Arizona
I agree with GD. This is a tough one to gauge and depending on what you want to do with it, it may not matter that much.
As a 71 vert, it is stilldesirable, even more so as an original LT-1.
On the down side, engine is a big negative as is the need for paint. In my mind, the differential is smaller, as is the lack of options.
Assuming that the frame is good and that there are no big issues, I would guess in the teens this time of year though this is a real stab in the dark. If you are serious about finding out the market value, put it on ebay with a high reserve. That'll give you a good idea.
If this is a car that you're looking at buying, try looking for similar ones that have sold on ebay but really the right amount depends on how much you're willing to pay to get it.
As a 71 vert, it is stilldesirable, even more so as an original LT-1.
On the down side, engine is a big negative as is the need for paint. In my mind, the differential is smaller, as is the lack of options.
Assuming that the frame is good and that there are no big issues, I would guess in the teens this time of year though this is a real stab in the dark. If you are serious about finding out the market value, put it on ebay with a high reserve. That'll give you a good idea.
If this is a car that you're looking at buying, try looking for similar ones that have sold on ebay but really the right amount depends on how much you're willing to pay to get it.
Last edited by CA-Legal-Vette; Feb 5, 2012 at 10:24 AM.
Thread Starter
Melting Slicks
Joined: Feb 2004
Posts: 2,111
Likes: 32
From: Damascus MD
You guys are echoing my sentiments. Here are some pictures including the restamped correct engine.
Bill
Thanks guys
Bill
Thanks guys
Last edited by 1974ta; Feb 5, 2012 at 10:59 AM. Reason: Photos
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Joined: Apr 2005
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From: Oregon
Then I'd pass. Here's the '70 LT1 I bought last fall for a chunk less $$$ than his price. It's in mostly original paint, original interior, and the tank sticker is still in place. It does have the original white top which needs to be replaced. Rust-free... I haven't taken interior pictures, but it's very good w/no dash cracks or seat rips, etc. The carpet is worn beneath the floormats(!), but it's all very good driver-quality.
Thread Starter
Melting Slicks
Joined: Feb 2004
Posts: 2,111
Likes: 32
From: Damascus MD
Then I'd pass. Here's the '70 LT1 I bought last fall for a chunk less $$$ than his price. It's in mostly original paint, original interior, and the tank sticker is still in place. It does have the original white top which needs to be replaced. Rust-free... I haven't taken interior pictures, but it's very good w/no dash cracks or seat rips, etc. The carpet is worn beneath the floormats(!), but it's all very good driver-quality.
This is why I love this forum.
Safety Car
Joined: Sep 2007
Posts: 4,458
Likes: 330
From: Indy Indiana
22k for a convertible documented 71 with tank sticker LT1? not bad.. a rare color too. it is in the c3 registry with more pics and seems to need alot of finishing, but has alot of new stuff... if truly no rust, it is an excellent basis for a nice car..nothing wrong with that stamp, it could use a little patina. if the dates and codes line up, paint it, put an interior in it, put that engine in it, and 99% of the people won't know the difference. just don't try to defraud anyone come sale time.
Thread Starter
Melting Slicks
Joined: Feb 2004
Posts: 2,111
Likes: 32
From: Damascus MD
Thanks JoeWill,
Tough decision.
It does come with quite a few parts. The owner is very nice and extremely honest. We spent hours looking at it and he put it up on his lift. He told me of the engine before coming to check it out. He described the condition almost perfectly.
I thought the price was okay, not great, but okay with the perfectly date matched motor. He has all the receipts and has had a lot of experience with LT-1s. He owns a beautifully restored 71 LT-1 coupe too with the original motor.
It does need some of the more expensive parts for the motor. Carb, dist, and the TI module, while it is there, it needs to be redone.
Bill
Tough decision.
It does come with quite a few parts. The owner is very nice and extremely honest. We spent hours looking at it and he put it up on his lift. He told me of the engine before coming to check it out. He described the condition almost perfectly.
I thought the price was okay, not great, but okay with the perfectly date matched motor. He has all the receipts and has had a lot of experience with LT-1s. He owns a beautifully restored 71 LT-1 coupe too with the original motor.
It does need some of the more expensive parts for the motor. Carb, dist, and the TI module, while it is there, it needs to be redone.
Bill
Race Director
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Thread Starter
Melting Slicks
Joined: Feb 2004
Posts: 2,111
Likes: 32
From: Damascus MD
Hi Mike,
I really respect your advice. Thanks. I too am an NCRS member and read your posts.
I originally did not have a problem with price and told him so after he said it was firm.
Then I started looking and posted because of my doubts.
The guy that owned the car before current owner rebuilt the suspension and did nothing to original standards. Bolted in ball joints. Non Gm idler arm. Greaseable u joints, poly connecting link bushings, non GM upper and lower control arm bushings.
Incorrect radiator re-core.
I forgot to mention that it also needs a $1000.00 set of front grills. They are both broken. Not sure even the side grills can be saved. Rocker moldings are toast too. Interestingly the one side still has the original j clip and screw.
ALL the chrome is all toast too. Decent cores for the most part.
Tough Decision.
Bill
I really respect your advice. Thanks. I too am an NCRS member and read your posts.
I originally did not have a problem with price and told him so after he said it was firm.
Then I started looking and posted because of my doubts.
The guy that owned the car before current owner rebuilt the suspension and did nothing to original standards. Bolted in ball joints. Non Gm idler arm. Greaseable u joints, poly connecting link bushings, non GM upper and lower control arm bushings.
Incorrect radiator re-core.
I forgot to mention that it also needs a $1000.00 set of front grills. They are both broken. Not sure even the side grills can be saved. Rocker moldings are toast too. Interestingly the one side still has the original j clip and screw.
ALL the chrome is all toast too. Decent cores for the most part.
Tough Decision.
Bill
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From: YANKEES UNIVERSE 70 454-LS5 500 ft-lbs Torque
Race Director
Joined: Feb 2003
Posts: 13,238
Likes: 1,092
From: YANKEES UNIVERSE 70 454-LS5 500 ft-lbs Torque
Then I'd pass. Here's the '70 LT1 I bought last fall for a chunk less $$$ than his price. It's in mostly original paint, original interior, and the tank sticker is still in place. It does have the original white top which needs to be replaced. Rust-free... I haven't taken interior pictures, but it's very good w/no dash cracks or seat rips, etc. The carpet is worn beneath the floormats(!), but it's all very good driver-quality.
Can you post a pic of the trim tag...Thanks Jerry
Melting Slicks
Joined: Jul 2009
Posts: 2,091
Likes: 40
Thats a good restamp in my book as well ... worthy of an, L88, LS6 or DZ 302 motor. Someone skilled in his craft with a backlog of blocks to restamp. Yep ...in a generation or two with 2-3 new owners the history will be lost , owner dies and the son n law sells the car as an all original mint LT-1 . 