1970 LT-1 Convertible

[ScotW]

I have had this car for a number of years and I am considering selling it. Rather than retype info about it, here is a link:

http://home.nc.rr.com/thewashabaughs/Test.html

I did start the car last week but the holley leaked and I am in the process of rebuilding it. I am confident I can have it back on the road shortly.

My question to the experts here is: should I have it repainted before selling it or sell it as is? What would be the approximate value before and after?

I have not yet given up on locating the original block. I left it in a barn in NY a long time ago. Its a long shot but I may be able to find it.

Thanks,

Scott

 

[JJS]

Looks like it has a lot of potential if the frame is ok, although it's hard to really see what kind of work the interior needs.
How much are you asking for it (before paint)?

 

[rainman]

Sale as is. You will not increase the value enough to offset what it will cost to paint it. As to what its worth, that's a hard question. If you can find the original block it will make a big difference.

 

[LT1Tim]

Sell as is, don't repaint. A fresh repaint often indicates things hidden underneath that are bad. The new owner may want to paint it with a certain type of finish, let them handle this. As far as price, hard to say without really seeing the car, the chassis is important, a rust free chassis means more to some folks than fresh paint. The paperwork is very good. A 1970 LT1 roadster is the best of the bunch.

 

[jdp6000]

NADA value is $15,000 to $42,000 USD. Depending on numbers matching, options, condition, originality,etc.... Hope this helps..

Jim

 

[rainman]

Okay, here's my guess on value. Without original block, upper teens, maybe as high as $20K. With original block, low to mid $20's. This is assuming that you have most other original components and there is no frame rot or major rust and the body is in fairly good shape. This is just a guess. LT-1s, particuarly 70s and verts, are very desireable, but the market is not that great. People are not lining up to buy them but those that want an LT-1 will pay good money for the right car. Just my opinion. I'd love to see what everyone else thinks.

 

[Mike Baskette]

Lt1's are all about the motor....period. Without the original motor it is a plain Corvette. When looking at or selling a car always subtract what the car needs. So....in review, if I can buy a wonderful LT1 convertible with matching numbers and highly optioned for let's say $35,000.00 then one starts the subtraction method on the car for sale. This method works for me, although I don't always get the car it seems like a smart way to do business and you won't get taken. Beleive me, I have made foolish mistakes in the past. If a person can buy a car in perfect or darn perfect condition, it is ALWAYS advisable to spend the extra money.

 

[JJS]

Lt1's are all about the motor....period. Without the original motor it is a plain Corvette. When looking at or selling a car always subtract what the car needs. So....in review, if I can buy a wonderful LT1 convertible with matching numbers and highly optioned for let's say $35,000.00 then one starts the subtraction method on the car for sale. This method works for me, although I don't always get the car it seems like a smart way to do business and you won't get taken. Beleive me, I have made foolish mistakes in the past. If a person can buy a car in perfect or darn perfect condition, it is ALWAYS advisable to spend the extra money.

I agree. If you're gonna buy an LT-1, it's got to be numbers matching. It's definitely "all about the motor."
My wife knows how much I love and care about this car, and she can't understand why I'll sometimes talk about selling it, and buying a late model C5, ZR-1, or '96 LT-4. She doesn't understand that if something happens to the motor, it's just another C3.....and I don't mean that to offend C3 owners.
I always thought of the LT-1, like the 427 as being "special" C3's.
Without that motor, the value of my car drops like a rock.

 

[Mike Baskette]

Not being a Corvette person I am quite taken with this LT1. I hope to remove the matching # motor and install a crate along with a 5 speed. This is what my Shelby friends are doing, I think it is the way to go.

 

[ScotW]

Guys, thanks for the replies. I have talked to some local people, and I think they agree with Rainman about the value. Basically, 18K.

I can understand the point about it being just another c3 without matching engine numbers. If indeed it is just another c3, then I should sell the LT-1 specific parts that are on the car (Alternator, gas tank, intake manifold, heads, etc) since there apparently is some demand for them. I don't think this is something I want to do. It sounds like if I locate the original block, I should rebuilt the engine with the parts from my current LT-1 engine, save the engine and put a crate motor in since it makes such a huge difference in the value of the car.

 

[rainman]

I agree with what Mike and JJS say to a point, but what makes your car not just another C3 (even without the original engine) is the documentation and history. What makes an LT-1 special is the engine, but there is nothing special about the block other than the numbers stamped on it. You can easily find a correct replacement block and build a correct engine. How hard (expensive) that will be depends on how many good original parts you have. I think that it would be a mistake to part out the car. It will never be as valuable as another LT-1 with the original engine but its still an LT-1 and more valuable than most other 1970 C3s IMO.

 

[ScotW]

I think one point I failed to make on my web page is that I replaced the original LT-1 block with a new LT-1 short block from GM. LT-1 cam with solid lifters. The current engine has the original LT-1 intake manifold. It has angle plug heads, not LT-1 heads but I still have one of the original LT-1 heads.

Thanks for all the replies.

Scott

 

[CapTen]

Original LT-1 Head

I think one point I failed to make on my web page is that I replaced the original LT-1 block with a new LT-1 short block from GM. LT-1 cam with solid lifters. The current engine has the original LT-1 intake manifold. It has angle plug heads, not LT-1 heads but I still have one of the original LT-1 heads.

Thanks for all the replies.

Scott

Scott - Is the original head that you for the driver or passenger side? Would you be interested in selling it....or purchasing another to match up and have a complete set? Thanks - Paul

 

[Nut]

Scot.... I was at the NCRS Winter meet in Kissimmee, FL a couple weeks ago and a 71 triple Black LT-1 in near mint condition, paperwork and the original owner present came across the Mecum Auction block and went for $34,500. The owner, a little old man had the reserve set around $36K but he took it off when the high bidder said he had a check in his pocket to cover it. Now this wasn't Barrett-Jackson or the Mecum Auction in Carlisle where likely you could get more, but that might give you a good idea of where the market is at the moment under normal conditions.

Good Luck....... Regal

 

[tomtom72]

Hi Scott, I would like to add just this to the knowledge base already given by the other LT-1 owners. The NCRS will recognize a car as original if the replacement block is of the same casting # sequence as was the original. The NCRS is starting to realize that it maybe impossible to keep rebuilding the #'s block forever. Back when the car was new all SB vette blocks in the 350 series had the same casting # as they were all 4-bolt blocks. If the car has the correct casting # block the NCRS would make an allowance toward authenticity. Ofcourse if the replacement block also had a casting date consistant with the Chassis mfg. date then the car is considered of a higher authenticity that a car with just the right casting # replacement block. The 70 & 71 LT-1s had 390010 blocks. The 72 LT-1s used 3970010 or 3970014(after March 72 ). These were the casting #s for all the 350 blocks 1970 thru 1972. It's all in the NCRS manual. Tom.

 

[Vettehead Mikey]

Hi Scott, I would like to add just this to the knowledge base already given by the other LT-1 owners. The NCRS will recognize a car as original if the replacement block is of the same casting # sequence as was the original. The NCRS is starting to realize that it maybe impossible to keep rebuilding the #'s block forever. Back when the car was new all SB vette blocks in the 350 series had the same casting # as they were all 4-bolt blocks. If the car has the correct casting # block the NCRS would make an allowance toward authenticity. Ofcourse if the replacement block also had a casting date consistant with the Chassis mfg. date then the car is considered of a higher authenticity that a car with just the right casting # replacement block. The 70 & 71 LT-1s had 390010 blocks. The 72 LT-1s used 3970010 or 3970014(after March 72 ). These were the casting #s for all the 350 blocks 1970 thru 1972. It's all in the NCRS manual. Tom.

Gotta disagree with you here Tom. NCRS does not accept/reject ANY car as 'original'. Period. It makes no judgement on this point at all. Please read the back of any judging certificate to confirm. This is not the purpose of NCRS judging.

Further, the correct casting number and acceptable casting date is just part of the story, you still need the configuration and details of the stamping pad to be spot on to avoid any deductions at all.

This is not new policy, it's only been clarified (and re-misinterpreted ) lately. :L

Also, not all blocks of a given casting number 0010 or 0014 were 4 bolt, you need to drop the pan to confirm.

 

[tomtom72]

When I am wrong I'm really wrong! I stand corrected and apologise. I was not trying to do anything but suggest a way for the 71 to be made 'right' short of locating the original block. The NCRS stuff I freely admit I don't understand much of it at all. The one thing I seem to remember from the service manual set I had for my 72 LT-1 was that thru the 72 model yr. it said that all 390010 blocks used in corvette production were 4 bolt blocks. I should have said that. I am sorry I truly was not trying to explain anything more than what I saw in a recent issue of the restorer about engine blocks. I do apologise. Tom.

 

[LT1Tim]

I believe that all '69 and '70 350 cubic inch blocks were four bolt mains. They were overbuilt by GM for safety reasons. In '71 and '72, only the LT1's were four bolt mains. You have to look at the mains to tell for sure.

 

[Vettehead Mikey]

Don't forget that GM used the same casting number block on just about every V8 powered car they built. All of these were 4 bolt also?

 

[rainman]

All Corvette small blocks in 70 and 71 and most in 72 were 3970010 blocks. There were a few 3970014 blocks used in 72. All in 70 were 4 bolt, only LT-1s were 4 bolt in 71 and 72. In fact almost all C-3 350s are 3970010 blocks with the LT-1s and L82s being 4 bolt and most the rest being 2 bolt.