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So here's the story... I have the opportunity to purchase a 1970 LT-1 Corvette from a guy local to me. The car has been slowly restored over the last 5 years and is in good condition. Most everything works, and is in good cosmetic shape. The only hang up is that it doesn't have the original engine. This was lost as some point and it was fitted with a regular 350 V8, block number 3970010. It has the hydraulic lifters instead of the solid lifters.
I'm relatively new to the Corvette scene, so I'm looking for some input. From what I've researched, the '70 LT-1 is really the holy grail of C3 LT-1s because of the high compression and solid lifters, so not having the original engine loses some of the magic it seems. Otherwise, the car is genuine LT-1 and has proper documentation, single fuel line (no return) proper badging, etc. Was owned by a local Corvette enthusiast and was taken well care of.
The question is... what is it worth as it sits now and how much would you pay? Without knowing his asking price... Any advice or insight on the engine that is currently in the car would be appreciated. Like I say, I'm not as familiar with the various engines from this period, so any help would be great.
I would ask, what are your intensions with the car? Investment? Car shows? Fun weekend cruiser? That will make a difference whether to buy this particular car or not (depending on his asking price).
If I had an LT-1 I wouldn't drive it much, or as intended when it was new, for fear of damaging the rare engine.
This one has that concern removed, since it doesn't have the engine.
Build a potent small block for it and let 'er rip!
"Holy Grail" LT-1's are the original, non molested, numbers matching investment cars. This is a nice car that you can enjoy! But it's certainly not worth $60-75K a numbers matching car would pull. If frame and bird cage are clean, I wouldn't be afraid to spend $30K on the car.
From the above, it sounds like the NOM cuts the price about 40-50% over an original engine car. You could build an LT-1 engine with the compression and solid lifters if you desire to regain the performance the car used to have. If you were really hung up on making it period correct, you could find a '70 LT-1 block to do it with. I think the take-away is to only pay an amount that reflects the missing engine and if/when it comes time to sell, understand that you won't get a top LT-1 price, no matter what the rest of the car looks like.
(I think it's a beautiful and striking looking car, so feel the comments about it being just a regular Chevy are off-base.)
Around 30k is a fair number on the car. The seller looks to be asking $25k on it There are a lot of incorrect parts under the hood and the car has a color change etc. There are signs the car was an LT1 looking at the single fuel line 6500 redline tach et. I would verify the other items that could point to it originally being an LT1 like the transistorized ignition system etc.
I went through the same calculus when I bought my 71 LT T top out of very long term ownership a few years back.
1st owner owned for 18 months and blew up the engine. Story is he got a replacement block and had it back dated/retrofitted to 70 LT1 specs. Went so far as to get a 70 data plate for the shifter console. I still haven’t fully dug in yet to confirm engine bits but either way it will never bring born with engine money.
That said it, had serviceable original paint, original Holley Carb, and Winter's intake, (which I see in your pix) though boxed during the oil crisis for a Qjet and factory manny, original coil and transistorized spark box, and sub 25K miles with service records to back up the mileage.
I think I paid what was then strong, low mile, plain jane C3 $’s for the car and I think prices were a bit higher then than now.
Even if it had born with engine, the A.I.R. system was long gone and if missing the carb/ignition etc that would be near a $5K bill to find and refit on a born with motor car.
While I have seen LT’s that color I have never seen that interior color on such an early C3. Stunning in my eye. If the asking price is indeed a fair bit south of $30K you’re in just very nice C3 territory and likely looking at a pretty reasonable deal all else being equal.
Here is a link to the car listed for sale:https://tinyurl.com/yrz4378x My guess the car started out as Corvette Bronze since Ontario Orange wasn't available in 1970. It would be nice to see a pic of the trim tag.
Here is a link to the car listed for sale:https://tinyurl.com/yrz4378x My guess the car started out as Corvette Bronze since Ontario Orange wasn't available in 1970. It would be nice to see a pic of the trim tag.
Ah, quite the interior color shift difference between the photo sources (or my digital devices). Looks oyster in the op and buff/cork/fawn on Facebook. Still a killer combo.
If the bottom is a nice as the rest, clearly can't be replicated for near the asking price.
If you choose to buy it - you have a few options...
1) Drive it as is.
2) Modify the current 350 to basically LT1 specs.
3) Build a motor for it that will make LT1 power or more - but do it with modern parts.
I would not recommend #2. The LT1 was a truly great engine in it's day - but it's not all that great by today's standards, and the parts will not be cheap, and at the end of the day - you still don't' have a numbers matching car. . Put a decent hydraulic cam in there (I'd suggest a retrofit hydraulic roller cam - but that's up to you), and a GOOD set of heads on there, and Yes, a set of headers, and you can easily make 425 HP. Build it with a stroker crank - to get a 383 and you can be making 450 HP, and you;ll never look back...
1970 Corvette LT-1 - Help?
