70 LTI convertible Valuation help needed
Thread Starter
Heel & Toe
Joined: Nov 2013
Posts: 23
Likes: 2
70 LTI convertible Valuation help needed
Hello everyone,
I'm need some help. My wife owns a 70 LT1 convertible, 4 speed, 4.11 posi car. Owned for over 40 years and it's been parked for the last 25. Car is original but almost a complete basket case. I'm trying to get a rough idea of value. My wife would like to get car back to usable drive able condition, in my estimation it will cost much more than car is worth to do that. Any way car is not for sale, folks have been trying to purchase for as long as I can remember and answer is always the same, thanks in advance for any help.
Phil
I'm need some help. My wife owns a 70 LT1 convertible, 4 speed, 4.11 posi car. Owned for over 40 years and it's been parked for the last 25. Car is original but almost a complete basket case. I'm trying to get a rough idea of value. My wife would like to get car back to usable drive able condition, in my estimation it will cost much more than car is worth to do that. Any way car is not for sale, folks have been trying to purchase for as long as I can remember and answer is always the same, thanks in advance for any help.
Phil
Thread Starter
Heel & Toe
Joined: Nov 2013
Posts: 23
Likes: 2
I understand these are almost worthless questions as the devil's in the details, let me do a little better job of defining condition
1. Car needs paint and some minor body work
2. Interior is rough but probably usable.
3. Top OK
4. Frame is an unknown- MI car driven in a few winters - so I'd assume the worst.
5. Motor will need to be refreshed - along with fuel system, brakes etc, car was running and driving when parked 25 years ago
Phil
1. Car needs paint and some minor body work
2. Interior is rough but probably usable.
3. Top OK
4. Frame is an unknown- MI car driven in a few winters - so I'd assume the worst.
5. Motor will need to be refreshed - along with fuel system, brakes etc, car was running and driving when parked 25 years ago
Phil
Racer
Joined: Nov 2010
Posts: 295
Likes: 5
From: CT
A 70 LT1 convertible is a desirable car. You should be honest with yourself on determining if you can perform the work or if you have to have a Corvette specialist do the work. To transform a basket case into a Top Flight car can cost $30-80 thousand dollars. Does the car have the original engine? Has the body been damaged? Does the birdcage (windshield structure) have rust? All these questions help determine if the car is a good candidate for a frame off NCRS type of restoration. In my opinion the more correct the car is the more desirable. FYI, Contes Corvettes in NJ have a 70 LT1 convertible which they reduced into the high 30's. It would be hard to put together a basket case for that unless you are tackling the work.
A basket case 70 LT1, depending on its condition can be worth as much as a base driver. If your wife wants to drive a 70 again, she may want to see what offers she may get.
Good Luck
A basket case 70 LT1, depending on its condition can be worth as much as a base driver. If your wife wants to drive a 70 again, she may want to see what offers she may get.
Good Luck
Racer
Joined: Nov 2010
Posts: 295
Likes: 5
From: CT
I understand these are almost worthless questions as the devil's in the details, let me do a little better job of defining condition
1. Car needs paint and some minor body work
2. Interior is rough but probably usable.
3. Top OK
4. Frame is an unknown- MI car driven in a few winters - so I'd assume the worst.
5. Motor will need to be refreshed - along with fuel system, brakes etc, car was running and driving when parked 25 years ago
Phil
1. Car needs paint and some minor body work
2. Interior is rough but probably usable.
3. Top OK
4. Frame is an unknown- MI car driven in a few winters - so I'd assume the worst.
5. Motor will need to be refreshed - along with fuel system, brakes etc, car was running and driving when parked 25 years ago
Phil
Interior-3-6k depending on gauges, glass, etc.
Top-Cheap
Frame/drivetrain-10-20k
Burning Brakes
Joined: Aug 2013
Posts: 1,231
Likes: 115
From: Yelm Wa
1. check
2. check
3. check
4. "MI car driven in a few winters"-the unknowns are well knowns here, and potentially labor intensive and expensive.
5. check to be expected
Value-$6K to $10K-may be considerably more, depending on the severity of the rust.
2. check
3. check
4. "MI car driven in a few winters"-the unknowns are well knowns here, and potentially labor intensive and expensive.
5. check to be expected
Value-$6K to $10K-may be considerably more, depending on the severity of the rust.
Thread Starter
Heel & Toe
Joined: Nov 2013
Posts: 23
Likes: 2
Ok good information- about the same kind of issues with early 911's that I have owned quite a few. Motor is original but if I remember correctly block has been decked which wipes out serial number, I know M22 tranny was replaced with a M21 at some point, original case was discarded, tragic I know. No intention to bring this back to top flight condition as cost to do that that would be at least 2X of value when completed. I have been telling my wife she would be better off ($$) selling this car and buying one to drive but it was a 16th B-day present and she attaches sentimental value to car. Car wa towed from storage location to vette specialist in Scottsdale so I'll be able to report back on specifics.
Phil
Phil
Le Mans Master
Joined: Sep 2002
Posts: 5,236
Likes: 898
From: Myrtle Beach SC
Don't be too quick to discount the fact that the VIN derivative (engine suffix) has been wiped clean. Today's technology, depending upon on how much was ground, could detect the remains of a serial number. Bloomington Gold uses a scope that projects the serial number onto something like an iPad where they can examine all facets of a number and the surface...examine broach marks.
You may also want to consider a formal appraisal before deciding how best to move forward with a restoration. 1970 was the first year for the LT1, only 25 were M22 equipped and only 1,287 LT1s were built...how many LT1, M22, convertibles were built? My guess...not many!
Otherwise...that is still a nice collectible and I would not want to get rid of it either. A tank sticker could be an additional piece of evidence of its original configuration and keep the value at a premium.
Last edited by hunt4cleanair; Nov 26, 2013 at 05:48 AM.
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Safety Car
Joined: Sep 2007
Posts: 4,458
Likes: 331
From: Indy Indiana
has it been stored for 25 years inside? there is always a reason that a car is parked for 25 years. running and drivable when parked? why park it? fishy story..
depends on the frame and birdcage rust and the nickel and dime stuff that can lead to plus or minus 5 figures. current condition will show whether you will are throwing away 10 grand or 30 grand. you will never recoup your money on a LT1 with a decked stamping pad and replacement tranny.
sell it, buy her a nice one already done for 30K.. be on the road tomorrow, save yourself the frustration and money of restoring it and the endless hours on ebay. That is what I did.
you will be many thousands ahead instead of many thousands behind.
2000 hour spare time garage projects and throwing away $20K can be a marriage killer...
depends on the frame and birdcage rust and the nickel and dime stuff that can lead to plus or minus 5 figures. current condition will show whether you will are throwing away 10 grand or 30 grand. you will never recoup your money on a LT1 with a decked stamping pad and replacement tranny.
sell it, buy her a nice one already done for 30K.. be on the road tomorrow, save yourself the frustration and money of restoring it and the endless hours on ebay. That is what I did.
you will be many thousands ahead instead of many thousands behind.
2000 hour spare time garage projects and throwing away $20K can be a marriage killer...
Thread Starter
Heel & Toe
Joined: Nov 2013
Posts: 23
Likes: 2
Mike- you hit the nail on the head- this is a struggle between my wife the cheapskate and my wife who places high emotional value on many things.
Joe- You make the same argument I have been making for over 20 years and it has fallen on deaf ears.
Thanks guys, I'll get a through report from shop and report back.
Phil
Joe- You make the same argument I have been making for over 20 years and it has fallen on deaf ears.
Thanks guys, I'll get a through report from shop and report back.
Phil
Thread Starter
Heel & Toe
Joined: Nov 2013
Posts: 23
Likes: 2
Phil
Don't be too quick to discount the fact that the VIN derivative (engine suffix) has been wiped clean. Today's technology, depending upon on how much was ground, could detect the remains of a serial number. Bloomington Gold uses a scope that projects the serial number onto something like an iPad where they can examine all facets of a number and the surface...examine broach marks.
You may also want to consider a formal appraisal before deciding how best to move forward with a restoration. 1970 was the first year for the LT1, only 25 were M22 equipped and only 1,287 LT1s were built...how many LT1, M22, convertibles were built? My guess...not many!
Otherwise...that is still a nice collectible and I would not want to get rid of it either. A tank sticker could be an additional piece of evidence of its original configuration and keep the value at a premium.
Don't be too quick to discount the fact that the VIN derivative (engine suffix) has been wiped clean. Today's technology, depending upon on how much was ground, could detect the remains of a serial number. Bloomington Gold uses a scope that projects the serial number onto something like an iPad where they can examine all facets of a number and the surface...examine broach marks.
You may also want to consider a formal appraisal before deciding how best to move forward with a restoration. 1970 was the first year for the LT1, only 25 were M22 equipped and only 1,287 LT1s were built...how many LT1, M22, convertibles were built? My guess...not many!
Otherwise...that is still a nice collectible and I would not want to get rid of it either. A tank sticker could be an additional piece of evidence of its original configuration and keep the value at a premium.
Phil
Safety Car
Joined: Apr 2007
Posts: 3,849
Likes: 367
From: PHOENIX AZ. WHAT A MAN WON"T SPEND TO GIVE HIS ASS A RIDE
Safety Car
Joined: Apr 2007
Posts: 3,849
Likes: 367
From: PHOENIX AZ. WHAT A MAN WON"T SPEND TO GIVE HIS ASS A RIDE
They are basically factory LT-1 race cars. SB radiator with overflow tank regular LT-1'S had a BB radiator,M-22,small flywheel ETC. I own 2 70 LT-1'S & had 72 ZR-1.
Team Owner
Joined: Jun 2000
Posts: 38,923
Likes: 1,482
From: Southbound
Cruise-In II Veteran
Trust me on this.
