1970 Corvette LT-1 Convertible

[Marina66SS]

So I talked to the owner and got as much info about it as possible. The car is originally red with black leather interior. The interior is nice he said but needs carpet. It has factory power windows. The car is all numbers matching except for the carb and distributor. The engine is out and in a crate. The crank needs work. This guy bought the car in 1979 with a bad crank and has just never got it back together. The car has 64k original miles, due to never being driven since '79. He rebuilt the suspension and rear brakes along with new fuel lines. He said it is a factory 4-sp, 4.10 posi car with power brakes but no power steering.

Here is the problems. He said it was previously wrecked and the rear taillight panel was cracked. He has a new one that goes with the car. The car had some light frame damage that was fixed.

The other problem is that him and his brother is working a trade deal on the car. Bad for me. He said that if it doesn't work he will sell it to me. I will keep you up to date.

I was also offered a 1971 383 Challenger convertible today. Supposed to be real nice. What would the price be on this? There asking price seemed too high to make any profit.

[TimG]

Rare car, that's for sure, but too far gone to save as an original example. It will need a full restoration from how it sounds. Look for paperwork, the rear would be 4.11 for Corvette application.

[Marina66SS]

So I guess the deal has fallen through with his brother which I knew it would. So I am getting the car as long as all the numbers show it is a real LT-1. What would this car be worth needing restoration and what would it be worth after the restoration?

[TimG]

There's way too many questions about the car to answer this question accurately. Someone would really need to evaluate the car and provide an estimate on what a restoration would cost. I would imagine that a correct restoration would begin at $50,000 as the car needs the engine rebuilt and heavy body work and paint. Paperwork would be a big plus on this car as it is rare and rare cars really can use some supporting paperwork. My feelings are that you could be upside-down real easy in this car as the very top of the market may be $70,000 for a car with judging credentials. I know of a very nice, Benchmark caliber '70 LT1 roadster for sale at $75,000 and it is well documented. A nice original such as this is worth more than a restored car equipped similarly. Unless you are in a position to do much of the work yourself, I'd tread very carefully.

[firstgenaddict]

Tim... why do the early 70's Vette's just not bring the money that the F bodies do, it makes no sense to me?

[Dave Rifkin]

Hemmings is listing the 1970 LT-1 Corvette as the next $100,000 Corvette.

[Johnny Horsepower]

I have been looking for one for a year or so now. Passed on a few and can't get the one i wanted at the right deal.
These cars are going up I think when people catch on to the fact that you make close to big block horses with small block weight in a car designed to handle well (for it''s day)
Thats why documented 70 Z28s (LT-1) will continue to rise.
Second gen camaro was superior in engineering to the 1st gen and you only had one strike shortened year to get the high compression power in a decent handling road car.

Just my $.02

John

PS if you are like me and love to actually drive (the piss) out of your cars, then don't think about the money too much and just make sure your not so upside down that you can't breathe!

[PeteLeathersac]

[ QUOTE ]
Hemmings is listing the 1970 LT-1 Corvette as the next $100,000 Corvette.

[/ QUOTE ]

Wouldn't you think the undervalued Vette L89's as really a better deal? .
I like LT1's and all...but that aluuuuuuminum!!!!!.

~ Pete