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Value Question - 1970 LT-1
Thread Starter
2nd Gear
Joined: Apr 2013
Posts: 2
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Value Question - 1970 LT-1
Hey everyone. I'm pretty new at looking at vettes, and I poked around the internet here after I found one that I think I might want at a reasonable price, also noticing that prices on these things tend to be all over the map. I've got a couple questions on the LT-1s. I do know this is a real LT-1, potentially buying from a very trustworthy source (family).
It's a convertible, 4-spd manual original but the issue with it is it has a non-original motor with a newer 400 ci in its place. How much is that a dealbreaker in the corvette world and how much does that kill the value? Interior looks pretty good, paint is fair with a little bit of bubbling. It's not really "for sale" but I was told to make an offer on it. What's fair for something like this? I was thinking of offering around $15,000.
Thanks for your help! Hopefully I'll be able to contribute to these boards if all works out.
It's a convertible, 4-spd manual original but the issue with it is it has a non-original motor with a newer 400 ci in its place. How much is that a dealbreaker in the corvette world and how much does that kill the value? Interior looks pretty good, paint is fair with a little bit of bubbling. It's not really "for sale" but I was told to make an offer on it. What's fair for something like this? I was thinking of offering around $15,000.
Thanks for your help! Hopefully I'll be able to contribute to these boards if all works out.
Drifting
Joined: Oct 2008
Posts: 1,369
Likes: 12
From: wichita kansas
well, first of all, without the original motor, the value has taken a big hit...then it comes down to verifying whether it is an LT-1, (which would be more valuable than the average 70' vette perhaps) does it come with any documentation to prove what the car was originally? POP, tank sticker, window sticker, history of ownership? tell us more about why your family member believes that it is an LT-1, and we'll try to help. Rick
Safety Car
Joined: Sep 2007
Posts: 4,458
Likes: 330
From: Indy Indiana
a 70 convertible 4 speed genuine LT1 even NOM is easily worth 15K as a project.
the price should adjust if it has any doc, has no rust, and all the specific LT1 parts are there, title issues etc...
if the car has had many owners then you could have the most trustworthy family and it might still not be a real LT1.
not for sale, but make an offer, means "make me an offer I can't refuse". they are fishing for high offers.
good luck, let us know what happens.
the price should adjust if it has any doc, has no rust, and all the specific LT1 parts are there, title issues etc...
if the car has had many owners then you could have the most trustworthy family and it might still not be a real LT1.
not for sale, but make an offer, means "make me an offer I can't refuse". they are fishing for high offers.
good luck, let us know what happens.
Drifting
Joined: Mar 2008
Posts: 1,900
Likes: 2
From: Nixa Missouri
Thread Starter
2nd Gear
Joined: Apr 2013
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Well that's too bad. It sounds like the value's about where I pegged it though. It's pretty, but yeah, I might be bugged by not having the engine over time.
Team Owner
Joined: Jun 2000
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From: Southbound
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Team Owner
Joined: Sep 2006
Posts: 31,214
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From: Westminster Maryland
Hi o,
I have a slightly different take.
A car that was in fact an Lt-! when it left St.Louis and has been restored with an acceptably casting dated and numbered block, AND all the other parts that were on a 70 LT-! such as intake, carb, manifolds, etc., still judges very well by NCRS standards.
Although in $ it would have a lower value than a car with it's original motor, it's a NICE car to own, and in my mind would be worth more than a car with just "any" replacement engine in it.
A 70 LT-! convertible is a very nice car to have! You'd just have to be careful that you don't get too much money in it, ("as though that's ever happened before!!!"), and be satisfied with it's slightly 'sullied reputation'.
At a good price this might be a nice car for someone.... maybe you?
Regards,
Alan
I have a slightly different take.
A car that was in fact an Lt-! when it left St.Louis and has been restored with an acceptably casting dated and numbered block, AND all the other parts that were on a 70 LT-! such as intake, carb, manifolds, etc., still judges very well by NCRS standards.
Although in $ it would have a lower value than a car with it's original motor, it's a NICE car to own, and in my mind would be worth more than a car with just "any" replacement engine in it.
A 70 LT-! convertible is a very nice car to have! You'd just have to be careful that you don't get too much money in it, ("as though that's ever happened before!!!"), and be satisfied with it's slightly 'sullied reputation'.
At a good price this might be a nice car for someone.... maybe you?
Regards,
Alan
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Safety Car
Joined: May 2008
Posts: 3,751
Likes: 719
From: Lafayette Louisiana
Agree!
Agree!
There are 2 key considerations:
1. First, what is a fair price for the Corvette like it is, with the NOM engine? check completed ebay sales, internet, hagerty, ect, ect to triangulate a price.
2. Is having the NOM motor, and the rest and how original, important to you? If it is not important to you, see #1.
Personally, if I could find a Corvette that I really liked for a very fair price (or great deal), I could get over the NOM motor, but that is just me. Some folks would not take a Corvette with a NOM motor, no matter how good a deal it was. And that is ok too. IMHO, this is all about what makes you happy, LOL's! Just make sure you know fully what you are buying and what a fair, honest market price is.
There are 2 key considerations:
1. First, what is a fair price for the Corvette like it is, with the NOM engine? check completed ebay sales, internet, hagerty, ect, ect to triangulate a price.
2. Is having the NOM motor, and the rest and how original, important to you? If it is not important to you, see #1.
Personally, if I could find a Corvette that I really liked for a very fair price (or great deal), I could get over the NOM motor, but that is just me. Some folks would not take a Corvette with a NOM motor, no matter how good a deal it was. And that is ok too. IMHO, this is all about what makes you happy, LOL's! Just make sure you know fully what you are buying and what a fair, honest market price is.
Last edited by 20mercury; Apr 9, 2013 at 11:56 AM.
Burning Brakes
Joined: Oct 2002
Posts: 1,196
Likes: 47
From: Scarborough Maine Fredericksburg VA
I am with Alan on this. A 70 LT-1 roadster is a relatively rare car and worth owning. I also agree without a 70 LT-1 engine it isn't all it can be. I am biased as I bought a 70 LT-1 roadster and have been restoring it. You can find all of the parts you need for a date correct engine but it isn't cheap. When you add in the paint you mentioned you could easily have $20K into bringing it back so now you have $35 into it and you can find an original for not to much more then that.
In my case finding the parts and doing the work is why I like the cars to begin with so it is worth it to me. If you don't like that end I still think a 70 roadster in decent shape is worth $15k all day.
I am picking up a NOS 70 LT-1 engine in May. When I do I will be selling many of the parts you will need to build a date correct engine if you have an interest.
In my case finding the parts and doing the work is why I like the cars to begin with so it is worth it to me. If you don't like that end I still think a 70 roadster in decent shape is worth $15k all day.
I am picking up a NOS 70 LT-1 engine in May. When I do I will be selling many of the parts you will need to build a date correct engine if you have an interest.