Need Help! 1970 LT-1 Value
 

I found my mom’s first cousins Corvette a few months ago. 1970 LT-1, Green on Green, no power steering, power brakes and power windows. Car seems to run and drive good. Brake pedal is soft and low. All smog is there and hooked up. Exhaust is bad. Trailing arm bearings are out! Car has been repainted with some poor repairs made to the drivers quarter. The engine was removed in the 90’s and the pistons removed for flat tops. Engine pad numbers seem to me to be correct and match. Frame and or bird cage seem to be in good shape. Did not remove the kick panels or a pillar trim. Interior is original and worn. Car has been off the road for some time.

The couple that own the car are getting a divorce, so trying to buy the car has been a funny process. Can only talk to one owner at a time, then they have to talk it over with their attorney. They can not decide on a figure to put on the car it seems till yesterday. They or he is asking $40,000. It’s listed on Facebook in Benton, Wisconsin. I did make them a couple of offers with no real reply from them.

If you could take a minute and look it up I would appreciate it. I have talked this car over with some of you on this site, but without pics. So at least you can actually see it now. Please give me your comments on the car. I would love to get your feel. This to me is the best place to get feedback with all the knowledge here. Sorry, I’m not able to get a link up. Thanks in advance! Dan

Just did a search on fb for vehicles within a 100 mile radius of Benton and came up empty handed... If you can find it again, just highlight the address bar, click copy and then paste in here.

$40k is too high for what you described.

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Pictures under the hood would have helped. But if what you saw and described to be wrong with it. You can count on there being more. Need to pull the interior kick panels and windshield trim. If the trailing arms are bad, then there is probably rust in the pivot point and up into the rear kick up area. If that's the case then you need a frame, (easier then major repair)
If the engine #s match with the tranny/rear and the original parts are still on the engine...
It may be in the teens, $15k area, but not much more. Mega $$ to restore if you can't do most of the work yourself.... I would pass on it myself, you can buy a decent LT1 for $35-45K and drive it. You'll be upside down real quick...

A tank sticker or some paperwork would help the value as would a good, undisturbed pad with no rust. I don’t know what the right number is but in my opinion, it would be under 40K. They will own It for quite a while at that price.

----LT1 has the right idea!....Bill S

Everything under the hood looks to be stock and all there. The distributor cover is there. Holly carb and factory intake are there. Did not do any number checking on the carb. Deep grove pulleys are all present also.

What happened to the LT-1 stripes on the hood was the car repainted

Yes, the car was painted in the 90’s and the stripes didn’t get put back.

But as you stated the pistons were changed to flat tops so it is no longer an LT-1 11:00 to 1 engine. Make's one wonder what else they took away from it being an LT-1. This is a $15,000 to $17,500 Project at best that even if it is COMPLETELY numbers matching (with documentation), you will be upside down financially putting it back to 100% stock. That is my input for what it is worth (which is not Much, but I have been there, and done that). Bill

My mom’s cousin Paul had the flat tops put in so he could run cheaper gas. That is all I know that was changed, but could be more?? The pistons ended up in a classmate’s stock car and she blew. He told me three of the pistons were destroyed.

Mine does not have smog. Original engine, trans and rear. I had to put brake calipers on it. Runs and drives with a 283 in it right now. Original block is at the machine shop.
Similar condition with poor repaint in the early 80s, except NO body damage. Marginal, but mostly original interior. Been sitting since 1984.

Green / Green is not at the top of most guys' list as far as color combo. Take that into consideration. There is SOMEONE out there that craves a Green / Green LT-1, but that guy or gal is really in the minority. So, if you ever go to sell, IMHO, you will likely take a hit on price.

Mine is Maroon with black interior. No power windows. No power brakes. PS was NOT available for 1970 LT-1. I have seen a few where it was added, but you have to change the oil pan, as the extra capacity LT-1 pan interferes with the PS ram.

Mine definitely has some rust in the frame. I got a complete pristine frame with the car, which included all the control arms, steering gear, etc. (even a drive shaft) so that it is a rolling chassis. So, I will have some extra parts to sell, including a complete third member. I have all five original wheels with the original spare on one of them.

I paid $17.5k for mine with the extra rolling chassis. Needs similar work to this one. I dropped the tank right after I got it, and there is no tank sticker. Dammit.

I sold my survivor 1970 LT1 Convt. with all dealer paperwork under 25k org miles, all original paint except both front fenders and the front end was repainted the hood & the rest of the car is amazing original paint. I sold this for $59k maybe 4 or 5 years ago, the now owner from FL has been trying to sell it and a member on here did go to see the car recently & called me to verify. This car needs nothing to drive and enjoy.

Thanks for everyone's input! I had offered them $20,000 so I don't feel like I was out of line. With the prices of everything in the last few years its hard to get a handle on what some things are actually worth. Things can turn around and go the other way just as fast. Thanks Again!!

Sounds like to me, you were going to buy it whether we told you yah or nay..... Get back to us in 6 months with an accounting of your expenses.
You MAY be right. It could be a "diamond in the rough" Best of luck...

Yes, I was going to be a buyer at $20. Mainly because I used to go for a drive with Paul and we got along good. He was a single man, never married. Just wanted it because of the memories we had together and to pass it to one of my boys. Just nice to keep things in the family if you can. But at $40. No I'm not their guy. My intentions would be to get it road worthy and safe. I have a green on green chevelle that as a family we like to get out and use. Hard to do that with a car that you have invested alot of time and money into. Would be nice to get the engine back to LT1 specs though. We like to drive fast.....:laugh:

Stick to your guns. Not a bad buy at $20. Not exactly a home run, but probably fair.

I didn’t realize you were the previous owner! I was offered the car in 2021 for $64k and seriously considered it.

Mark, If you want to know why I sold it, send me a PM or call me 7one7, 3four8, 2424.