Value on '71 LT1?

[BarryK]

hi guys

I normally try to avoid posting questions this vague but i can't help it this time.

Local to me is a '71 LT1 for sale. I need to get some rough. general ideas of the value of the car or LT1's in general since I haven't followed LT1 market prices.
So far the only info I know so far without seeing the car in person is:

1971 LT 1
4 Speed
T Tops
Approx. 58,000 Miles
Rebuilt Carb
Needs brakes and inspection.
Garage kept

A fellow corvette club member who knows the owner said the car has sat in the garage for the last couple of years without being used at all which is why the owner is now selling it.
Acoording to him and the the owner (they are friends) it's a no-hit car as far as they are aware.
body and paint is suppose to be in good condition except for some paint spidering at the rear (spidering indicates to me either the original paint or an older repaint in lacquer).
Frame and birdcage are supposably solid.
i have no idea on the motor to know if it's original or not at this point.
interior is suppose to be in very good condition.

I'm going to try to arrange seeing the car in person in about 2 weeks if I can and will at that time try to get as many of the casting numbers off the motor as possible to try to determine if it's the original block along with other major componets.

Any ideas on the current price range of '71 LT1's in general and also if possible what it may sound like for a possible price range on this car based on the little info I have to go by so far.

Asking price is in the range of low to mid 20's

Thanks for any help

Barry

 

[Erik S. Klein]

It depends entirely on condition. A messy driver is mid to high teens while an NCRS top flight car would probably be in the 40s.

 

[jims427400]

Barry,
Good luck w/ the LT1, the ultimate small block.. 2 vettes just are'nt enough..I had the same problem.

 

[JJS]

hi guys

I normally try to avoid posting questions this vague but i can't help it this time.

Local to me is a '71 LT1 for sale. I need to get some rough. general ideas of the value of the car or LT1's in general since I haven't followed LT1 market prices.
So far the only info I know so far without seeing the car in person is:

1971 LT 1
4 Speed
T Tops
Approx. 58,000 Miles
Rebuilt Carb
Needs brakes and inspection.
Garage kept

A fellow corvette club member who knows the owner said the car has sat in the garage for the last couple of years without being used at all which is why the owner is now selling it.
Acoording to him and the the owner (they are friends) it's a no-hit car as far as they are aware.
body and paint is suppose to be in good condition except for some paint spidering at the rear (spidering indicates to me either the original paint or an older repaint in lacquer).
Frame and birdcage are supposably solid.
i have no idea on the motor to know if it's original or not at this point.
interior is suppose to be in very good condition.

I'm going to try to arrange seeing the car in person in about 2 weeks if I can and will at that time try to get as many of the casting numbers off the motor as possible to try to determine if it's the original block along with other major componets.

Any ideas on the current price range of '71 LT1's in general and also if possible what it may sound like for a possible price range on this car based on the little info I have to go by so far.

Asking price is in the range of low to mid 20's

Thanks for any help

Barry

Hi Barry,
I had mine appraised last year and it was rated as a #1 car with a value of $36,500. The guy that appraised my car is in the business of restoring older corvettes.

Mine is a coupe, older body-off resoration, matching numbers, etc.
Hope this helps,

-John

 

[GaryS]

So many variables are here that prevent anyone from even giving a ballpark guess. However, IF the frame is good, IF the windshield frame is good, IF the engine and trans are original, IF the interior is decent, IF the cooling system is good, IF the body and paint are presentable, IF the car is drivable, and IF a whole slew of other IFs that I can't think of right now are ok, then that price sounds very nice. A replacement carb doesn't lower the value much imo. Make certain that you know what to look for in the frame and windshield posts and make sure that you crawl under, around, and over this car to see. I

 

[Vettehead Mikey]

Hi Barry,
I had mine appraised last year and it was rated as a #1 car with a value of $36,500. The guy that appraised my car is in the business of restoring older corvettes.

Having said that, the 'appraised for insurance purposes' value is usually far higher than a 'street value' that you could actually sell for.

Mine's at least 50% higher. :eyerole

 

[JJS]

Having said that, the 'appraised for insurance purposes' value is usually far higher than a 'street value' that you could actually sell for.

Mine's at least 50% higher. :eyerole

There's no doubt in my mind that I could get MUCH more than that figure if I ever decided to sell. No doubt whatsoever......course, you have to find the "right" buyer. I already have a fairly large list of people that want a shot at it if I ever sell - but we all know how that goes.

Barry, here's a link that'll help you with casting numbers codes, etc. The site is no longer active, but you can still access the "specifications" area.

 

[JJS]

Barry, here's that link that I forgot to put in the previous response. Sorry about that:

http://www.71corvette.com/

 

[BarryK]

everyone
thanks for the feedback.
yes, I fully realize that i really asked the question prematurely as a lot of the value will be determined after I can find out if it's the original motor/trans etc but I was just hoping to get a general range of what current LT1 prices were ranging in and I think you guys answered that for me for which I thank you.
Obviously there is no way I can begin to make any decision on the car until I personally check it out to see the true condition of the body, frame, birdcage, numbers on the motor, etc.
At this point it's simply an availabe "opportunity" but nothing to get my hopes up about until I can see what i'm dealing with as a complete picture.
I'm well aware of how easy it is from experience to drop $$$$ in a project car and at the moment i'm not prepared to handle another full project as I still have plenty to do on my "To-Do" lists on my '65 and '78 but if the car is in overall decent condition, it does have the original motor/trans, and all it really needs is a carb rebuild and brakes as it's being represented so far than the price sounds like a bargin. If it needs much more than that chances are i'll let it pass for now since as I've mentioned i'm not able to take on a 3rd project at the moment because of both space and budget concerns.

Once I see the car I'll post what I found and ask for help on the numbers as I don't have a '71 NCRS judging guide to know what number SHOULD be on the car but i'll write everything down when i see it and than ask for help identifying those numbers as correct or not from any of you that has the info and it willing to help me decipher them.

Gary - yes, i'm well aware of what to check on the frame, birdcage, etc for problem areas since i do already own a C2 and C3 but it's a very valid point to have brought up since many people asking what I asked do not know what to look for, especially if it's their first older Vette.

John - thanks for the link to the '71 site. Once I get the #'s off the car that will be very helpful! If I can't find everything I need I'll check back here and ask and perhaps yourself or others may know the info

thanks again!