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1972 LT-1 Convert Pricing HELP

S

sepperson

Guest
I have an opportunity to purchase an original 72 LT-1 convertible, but need some of your experience to help point me in the right direction. I have owned a 70 convertible before so I have general ideas on what to look for and I have also restored several Mustang Club of America Gold cars (similar to your NCRS)(yea I know...trader) so I am not a novice - but when it comes to LT-1's I definetely am.

Here is some information on the car. It is a four owner Mille red black interior "no hit" 90,000 mile car. The original engine (block, heads, crank, etc.) come with the car and I have verified the casting #'s and VIN which are all matching (except for distributor and carb - how do I check?). However, the third owner sucked a valve and it blew a hole in the cylinder wall. I have checked with many resources and they said it was salvageable with a sleeve. The original Muncie is in the car (have not checked the #'s) as well as the rear end. Currently the car is running with another 350 (what car it is from the owner does not know). The original paint is on the car, as well as interior and covert top. The hardtop is included as well. Overall the condition of the car is a #3 that will need bodywork/paint, interior refresh, mechanicals rebuilt and suspension, etc. It is presentable, but not impressive. I am not looking to do a NCRS Top Flight car but a very correct presentable driver. I have a confirmed offer of $16,500 on the car, but I am now not so sure.

Any help on what other items to look for (i.e. I verified VIN on the post had an "L") and pricing would be certainly appreciated and I am looking forward in joining the "other side".

Sam
 
Sam


First, welcome to the CAC! :beer

The distributor will have an aluminum band around the shaft housing, just above the intake manifold (unless the band has been removed). For a '72 LT-1 it should read 1112101. The carb should have the numbers stamped on the driver's side of the air horn on the front. Should be Chevrolet part #3999263, and R6239-1 (or "A").
Sounds like a neat find, but I guess it would depend on how nice you want to make the car, and how much you want to do yourself. What I always do is just start adding up what the improvements would cost. Rebuilt engine- $3500; body and paint- $7,000; interior- $1500; suspension- $3000;(these are ballpark, mind you) and see if you would be better off just buying a nicer one for that money- now $31,500.
If you can do a lot of this yourself, or just want to do it for the fun of it- great! You'll also know exactly what you started with as opposed to an already done car. Or you could just do the minimum to make a nice, safe driver. It actually sounds kind of similar to my car, a no-hit original 2 top vert that had just been painted, but needed mechanical attention. I payed $14,000, but of course that was in 1993!
Good luck whichever way you go.

Rich
 
A hole in a cylinder wall can be repaired? I always thought sleeves were for blocks that needed to be returned to their original cylinder bore, not to repair a hole. I would check that out before anything else.

You would really save some time and headace if you bought the 1970-72 NCRS Technical Information Manual and Judging Guide. This guide has all of the information on what to look for. It is about the most accurate information you will find. You can find it at www.ncrs.org, click on the store logo and then go to your year. I would bet that they will even expedite it for you.

Gary
72 LT1
 
Thanks for the help and recommendations. The price figure of $30,000 (what it would cost to "restore") is what scares me, but I know that figure is reasonable. That would get me a very nice driver but not an NCRS car.

I was trying to buy a 71 LT-1 Convert which received numerous NCRS Top Flight and Second Flight awards but we could not meet at a price (he wanted $33,000). Now it seems like that would have been a better deal and I would not have to spend all winter working on a vette (been there many times with the mustangs).
 

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