LT1 Prices
Thread Starter
Drifting
Joined: Apr 2005
Posts: 1,583
Likes: 10
From: Hilton Head Island SC
LT1 Prices
I have been considering selling my 71 LT1 but it appears the prices have taken a downward turn. Anyone have an opinion as to why?
These cars are not that easy to find in very original condition.
These cars are not that easy to find in very original condition.
Le Mans Master
Joined: Jun 2006
Posts: 6,400
Likes: 1,226
From: Tampa Florida
Have you thought about listing yours on this forum?
Team Owner
Joined: Oct 2004
Posts: 81,241
Likes: 3,063
From: altered state
St. Jude Donor '05
Smaller buying pool, many are hanging on to their $ right now.
Not worth it trying to sell mine either, couldnt get enough to justify it
Maybe get driver insurance and just rack up a bunch of miles thats what its for.
Not worth it trying to sell mine either, couldnt get enough to justify it
Maybe get driver insurance and just rack up a bunch of miles thats what its for.
Burning Brakes
Joined: Jul 2013
Posts: 1,139
Likes: 82
I think a lot of Vette owners “lump” very nice, run of the mill LT1s, LS5s, etc with pristine, original cars with original paint etc. My LS 5 has almost every part that it left St Louis with, rust free, four speed BUT....it’s not rare and I don’t consider it a true collector grade car. A true collector will step up and pay very well for the correct car. I think all types of cars will have a “peak”, how many people here want to drive a car with brass lights on the side? I can’t really relate to that type of vehicle since I grew up in the late sixties, early seventies. For me, it had to look like the Hotwheels I played with! I don’t stress over price or valuation as I don’t invest in cars they are for enjoyment. Taking a kid out and doing a 1-2 shift with the right foot down is worth every penny.
Melting Slicks
Joined: May 2002
Posts: 2,476
Likes: 756
From: Laporte, IN
Prices vary greatly depending on what colors, coupe/convertible, options etc. BB, LT-1 will always have a premium over any base car with very few exceptions and those are very rare. Condition and originality make the difference as to why 2 same equipped Corvettes sell at dramatically different prices. One has 90% of its original parts with surface rust while the other has 50% of its original parts and pitted/heavy rust. I sold my LT-1 more then 10 years ago seeing that we were aging up and there were less buyers out there. Sold it for 10 to 15K more then I see the same one would sell for today. So yes the market is soft and has been for the past 5 years. My friend is selling his 71 LT-1 2 top convertible with 95% original parts fully restored a Top Flight award at an NCRS national. He is asking 49K and has had barely any interest. My opinion is that most buyers today do not care about originality as they have before. Most would rather buy a Restomod then an original one as they want the look but want to have all the creature comforts of today's cars at 3 times the price. See below
https://www.mecum.com/lots/SC0520-41...e-convertible/
https://www.mecum.com/lots/SC0520-42...e-convertible/
https://www.mecum.com/lots/SC0520-41...e-convertible/
https://www.mecum.com/lots/SC0520-42...e-convertible/
Last edited by PJO; Jul 18, 2020 at 10:53 AM.
Burning Brakes
Joined: Mar 2014
Posts: 1,226
Likes: 807
From: Dallas
2022 Corvette of the Year Finalist -- Unmodified
2020 C3 of the Year Finalist - Unmodified
I was shocked to see the very low price a C3 L88 went on Mecum Indy earlier in the current auction... It was in great shape and did not pull nearly what one should expect... Went at 'no reserve' which also shocked me. It was a '68 Convertible L88 with 21k miles... Sold for $150k... plus $15k more in fees I suppose... The Mecum estimate for sale was $250-$300k... ouch!
Team Owner
Joined: Feb 1999
Posts: 34,454
Likes: 665
From: Republic of Texas
I was shocked to see the very low price a C3 L88 went on Mecum Indy earlier in the current auction... It was in great shape and did not pull nearly what one should expect... Went at 'no reserve' which also shocked me. It was a '68 Convertible L88 with 21k miles... Sold for $150k... plus $15k more in fees I suppose... The Mecum estimate for sale was $250-$300k... ouch!
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Le Mans Master
Joined: May 2008
Posts: 9,063
Likes: 2,736
2022 C3 of the Year Finalist - Modified
Buyer
I think the market for original '71's will continue to drop, fewer buyers and less demand. I'm in the same situation, I've owned my '71 LS5 convertible for 45 years and I'm at the age that I need to sell or donate it to a charity. But I do think that your LT1 is more desirable than a BB.
Have you thought about listing yours on this forum?
Have you thought about listing yours on this forum?
Instructor
Joined: Aug 2007
Posts: 192
Likes: 49
From: San Carlos Ca.
It's an enigma to me why the LT-1 cars do not sell at a premium or at least parody to similar muscle cars of the same vintage. They don't command the same prices of cudas or Z28 camaros?
Melting Slicks
Joined: Aug 2013
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Likes: 934
2025 Corvette of the Year Finalist - Unmodified
2024 C3 of the Year Winner - Unmodified
LT1 cars were at an all time high around 2009 when restored 70 LT1 convertibles were bringing 70k plus. In my opinion right now they are under valued and are great cars if you are in the market for a c3. In regards to c3 prices I think they are still solid with 69's still in good demand by buyers.
Le Mans Master
Joined: Jan 2007
Posts: 7,990
Likes: 3,333
From: Omaha NE
2025 c3 ('74-'82) of the Year Finalist - Unmodified
2023 C3 of the Year Finalist - Unmodified
2022 C3 of the Year Finalist - Unmodified
2020 C3 of the Year Finalist - Unmodified
After watching Mecum the last few days I think almost everything is down.
I just saw a '70 LT1 that was an older frame-off go for $38k.
And I've also seen two C2 Coupes go for under $40k. One was a powerglide but still...
Maybe it's like Dylan said. Times they are a changin'.....
I just saw a '70 LT1 that was an older frame-off go for $38k.
And I've also seen two C2 Coupes go for under $40k. One was a powerglide but still...
Maybe it's like Dylan said. Times they are a changin'.....
Team Owner
Joined: Jan 2006
Posts: 37,637
Likes: 3,118
From: Crossville TN
Covid-mania.... Priorities are quite different at the moment. Not sure the money for stock 50 year-old cars will return to where they were. Most buyers want 'old-school' look with modern drive train, suspension and steering systems. We will have to wait and see........
Racer
Joined: Sep 2019
Posts: 400
Likes: 207
From: Liberty Bay, WA
After watching Mecum the last few days I think almost everything is down.
I just saw a '70 LT1 that was an older frame-off go for $38k.
And I've also seen two C2 Coupes go for under $40k. One was a powerglide but still...
Maybe it's like Dylan said. Times they are a changin'.....
I just saw a '70 LT1 that was an older frame-off go for $38k.
And I've also seen two C2 Coupes go for under $40k. One was a powerglide but still...
Maybe it's like Dylan said. Times they are a changin'.....
I really wish NBC would take the gag order off the Mecum announcers. These guys obviously know a lot about cars, but everything they say is sugar-coated, as if they had been told never to call a POS a POS. The only time I've ever heard a sarky comment during a Mecum broadcast was from Bill Stephens- predictably enough- after having seen a Lamborghini rat rod, when he quipped- 'A public service announcement from Bill Stephens: please drink responsibly.' Ha!
Wouldn't it be great if the announcers were actually allowed to discuss market trends in the collector car world in a serious fashion! Way too much of these broadcasts is just a giant Mecum and Coker Tire commercial.
Racer
Joined: Feb 2011
Posts: 252
Likes: 12
From: Fredericksburg Va.
If you think that you've never driven one. I own a 72 base motor small block 4 speed car and a 71 LT-1 the difference in performance is drastic.
Drifting
Joined: Oct 2006
Posts: 1,875
Likes: 779
From: Persona Non Grata
2022 C3 of the Year Finalist - Unmodified
. But, of course, I am biased.
Melting Slicks
Joined: Sep 2007
Posts: 2,149
Likes: 284
From: cary Il
I have owned a few Lt-1s, they are nice, but there's not much difference in a base over an LT-1 performance wise. The LT-1s generally have a lower rear end ratio, that provides quicker acceleration.
and have more HP when nearing redline, but both motors produce the same torque. LT_1s could be a little doggy off the line if not geared right, just my opinion. Do love the hood.
and have more HP when nearing redline, but both motors produce the same torque. LT_1s could be a little doggy off the line if not geared right, just my opinion. Do love the hood.
Racer
Joined: Sep 2019
Posts: 400
Likes: 207
From: Liberty Bay, WA
I have owned a few Lt-1s, they are nice, but there's not much difference in a base over an LT-1 performance wise. The LT-1s generally have a lower rear end ratio, that provides quicker acceleration.
and have more HP when nearing redline, but both motors produce the same torque. LT_1s could be a little doggy off the line if not geared right, just my opinion. Do love the hood.
and have more HP when nearing redline, but both motors produce the same torque. LT_1s could be a little doggy off the line if not geared right, just my opinion. Do love the hood.
Burning Brakes
Joined: Jul 2018
Posts: 979
Likes: 258
From: Maryland
I would also think original LT1s should fetch a decent price, with the 70 model being primo since it was the HP king. A 71 LtT1 actually has less HP than a 70 or 69 L46. I think many people are hurting money wise from the virus effects and the first things to go are vacation homes and toy cars, ergo the price drops. Would not want to be someone selling a vacation home right about now either...