1970 lt1 value

[grm5411]

Hi everyone, I'm new to the forum. I've had 2 1977 Corvettes back in the late 70's and a 67 coupe about 15 years ago. My neighbours husband who passed away about 3 years ago now, owned a 1970 LT1 convertible. He bought in 1973 and mostly kept it in the garage. It's all original because his wife wouldn't let him spend any money on it. I took it out for a few drives just to keep it running, but it's in such bad shape mechanically that it's dangerous to drive. And the smoke will clear mosquitos for a 3 block radius.
I checked the serial number on the block to verify it's original and still the LT1 block. It's missing the A.I.R. but still has the ignition shielding which is unusual for a unrestored car. No power steering or brakes.
I would like some opinions on the value of this car as it sits. I am thinking about 10K. The body appears to be in good shape, no idea on the frame and bird cage, but it feels relatively solid driving. I would leave the body and paint as is and redo all the mechanicals with a body off. Probably still looking at 25k for that. It has the leather interior as well.
Any comments would be appreciated.
Thanks
Greg

 

[vt65]

the lineup will start right behind you if she'll sell it for $10k, personally i'd do a "body on" resto, good luck and keep us posted

 

[rocky yo]

Can I have her number ? I would easily pay $10k for that car. The realistic number for that car is about $20 K as is. The most collectible corvettes from 70 to 72 are the LT1 and LS5 in that order. I have seen Fully restored examples go in the $50K area. I look forward to your call.

 

[buckhorn76]

the engine may need not much more than a valve adjustment, they may never have been done - solid lifter cam, and a complete tune up. owners of cars with factory solid lifter cams almost always neglected valve adjustments, it's why the 426 hemi was switched to hydraulic lifters. it definitely has the potential to be a high dollar car.

 

[taylorsk8]

My opinion says for a chrome bumper car: (with original equipment)

Rough Shape, body issues (not paint), some surface rust, Interior issues but still complete, may be not running - $9000

Decent Shape, Body not damaged (not including paint), solid frame and birdcage, glass good, interior driver quality - $14000-$16000

Good Driver quality, body good, minimal paint issues, interior good, no rust, overall good driver - $18000 - $22000

Show quality, restored, repainted, interior in great shape $30000- $45000

In general Rust will be a show stopper, it takes a lot of time and effort (or money) to fix frame rust. Even more to fix birdcage rust. Small fiberglass issues are simple fixes but paint costs are getting ridiculous. Mechanically corvettes are pretty simple and most issues can be fixed if caught early.

This is all an opinion of a corvette lover so take it with a grain of salt.

T

 

[CCO]

Seems you've got quite a find there. I found this:

Chevrolet Corvette (C3) - Wikipedia, the free encyclopedia

Also from my 'Corvette Black Book' GM made 10668 coupes and 6648 roadsters. Out of those only 1287 got the LT1 engine. The rarest engine by far that year.

GM also made 25 ZR1's that year with the LT1 engine (and other goodies) -- unimaginable how valuable they might be.

From what I've seen I'd be holding out for big $$ if it were mine.

Welcome and keep us up on developments please.

Colin.

 

[grm5411]

Thanks for the replies. I guess I was underestimating the value. The real problem I have is her daughter doesn't want her to sell it, but the daughter hasn't even opened the garage to look at it in over 2 years.
I'll keep working on her. I'm not trying to take advantage of the situation which is why I asked for some opinions on the price. Easy to find prices on restored ones but not so easy on ones that need work.