LT-1 Sold!

Question:

Hi : Saw your web page LT-1.com and was extremely impressed with the work you did on that car. I have been an enthusiast for years, but until recently could not afford to purchase one. I see you sold this car. I am in the market for an LT-1 and, if you don’t mind, would like to know how much yours sold for.

Thanks and good luck with the 96.

Cam

Answer:

Hi Cam:

Thanks for your message and I am glad you enjoyed our site…

We sold our ’71 LT-1 for about the going rate for a good condition 2 car. We probably could have got more if was not sold in the fall when the market is at its seasonal low.

Also, we sold it locally in Canada, and could probably have got the same figure in US dollars if we had taken it to some place like Carlisle, or used Hemmings. That would work out to a 30% difference in money.

The condition of cars makes all the difference, as we sold our car for approximately double what we paid for it seven years ago, but had put a ton of cash and time into it over the years.

You can usually find an unrestored LT-1 for around $15k, and expect a restored one to sell for between $25k – $35k. Had we done a body off on our car, it would have been a condition 1 car, and we might have got another 25% more for it.

Depending on your abilities and resources, you have to decide if you are going to restore it your self, or buy one that is already done. If you do it your self, no matter how much of your own labour you put into it, you will almost never get it back when you re-sell it. Think of it as a pleasant and satisfying hobby, and not a profit making exercise. You may save money on the purchase price for a project car but believe me, if you don’t pay now, you will always end up paying later.

Otherwise, buy the best condition car you can find and let some one else take the loss.

Good luck,

STU