Cratecruncher

Hi All,
I've had three Corvettes including a '68 over the years and still own a C5. My next door neighbor has had a '69 L36 for over forty years that I always liked. He passed away recently and now the car is available for sale. It's a 390hp 427 with 4 speed. The problem is it hasn't run in years and I don't know if it's the original block. The family found a title thank goodness. I had a chance to look closer at it today and its both good and bad. Other than AC there are also ps/pb options






. The rats have been present under the hood for a while. Battery is dead and I couldn't move the engine just with the belt. Paint is an inexpensive enamel respray in the original orange color with the usual overspray on weather stripping and brightwork.. The driver seat insert has split but looks to be original. Carpet is worn but might clean up. No rats in the interior. I want to make a reasonable offer but have no idea what the thing might be worth or what may be wrong with the engine. I do remember seeing it running/moving about ten years ago and know it's been garaged since then. Any idea what is a reasonable offer?

jhudec

As I am sure it all depends on rust. Let's assume no major rust issues and original engine plus you can perform most of the work.
Probably needs....
engine rebuild
new wiring harnesses
trans rebuild
brake rebuild
suspension rebuild
seats redone
new tires
This just makes it drivable.
$20k?

Cratecruncher

Wow! $20k even with all that work huh. Man. I was thinking $7-8k, lol. I just noticed an extra **** on the column. Is that a tilt option? The garage it's parked in is really dark and I only had a few minutes to look it over. I'm still noticing things in the pictures like the 43k mileage. Given the pedal wear I think that's legit mileage. It's got manual windows that sorta work. You mentioned the C word: corrosion. The A-arms just a bit of surface rust from rat pee. The chrome trim on top of the windshield post is pitted. Chrome on the bumpers looks worn but no corrosion. That's all I got to see. The car has been in Texas for 40 years so no salt around here. Do the frames have a rust-out area like the mid-years? I'm pretty sure the engine is original and just needs an oil change and carb cleanup. Clutch may be stuck as that's common here with sitters. These cars are notorious for bad calipers but that's easy stuff.

jhudec

The caveat is no serious rust and original drive train. The items I listed can be remedied fairly easily.
Finding original drive train and fixing extensive rust are dealbreakers.
427 big block 4spd w/air is desirable.

BlackbirdZ07

It looks like a neat project if you want a project. The problem with a car like that is that it can easily turn into a full restoration unless you're happy driving around a rat rod. New paint will be expensive if you want a decent job. Probably needs full suspension rebuild, and engine and transmission as mentioned above. While you have those out, and since you'll be repainting the car, you might as well...... That's when things start getting expensive.

Verify the original engine; it's easy to check. If it is original and the car is not rusty, those are plusses. The other good things are what looks like factory air, a fairly rare and desirable color (again, verify the code), and that lever is for the optional tilt/telescopic steering column. Check for poorly repaired body damage because that will really increase the paint cost. Also check for rust in the windshield frame.

I think you're right on with the price, $7 or 8K. Could they get more than that on eBay? Probably, but it's been sitting forever so you're buying a whole can of unknowns, and there will be a lot of work needed that you don't plan on.

Mike98SilVert

plus it needs new paint, A/C work, seat covers and most likely gauge and headlight work too.

I see a tilt / telescopic steering wheel option and an AM / FM radio. Are there after market seat cover protectors over the seats?

If it's a number matching original 1969 Coupe 427/390 4 speed A/C complete car with no rust, no accident damage, a clear title, you can verify 43K miles and it runs it could be worth $20K or so as is without knowing about the extent of the rat damage, it's hard to tell from pictures. Get someone who is a C3 specialist to look at the car. If it checks out and the work seems manageable, I would offer $10K-$12K and see where it goes.

Cratecruncher

Interesting. I offered $10k for it. The estate admin was very nice but said she was going to see if anyone in her family wanted it first. The rag-like things on the seats are just cheap covers over the original vinyl. I only checked condition of the driver seat but it was starting to split and pretty stiff. I was wondering if that was an AM/FM radio. I also notice it has the fiber optic stuff like my '68 had. I thought that was one year only. Does the rear window come out on the '69s?

I'll update the thread when more develops. I always wanted an orange Corvette, haha.

BrianOz

No, '69s have it as well.

Yep.

Mike98SilVert

The rear window is removeable on the '68-'72 Coupes.

Cratecruncher

I just got an email from the admin. They are going to truck it to Ohio and let the family "bring it back to life". Frankly, I think I just dodged an expensive bullet...

Mike98SilVert

I agree.

BlackbirdZ07

Whoever tries to "bring it back to life" is going to quickly realize they'll be in it for way more than they bargained for. And then it will be for sale.

grady white

look at it this way if the car was completely restored would be worth about 40+ .. depending on what she needs you can put a lot of money in her and never get even close to what it is worth . It’s a personal choice

edram454

the family did you a great favor. this will cost serious money. parts are scare for these cars and expensive. go through the catalogs now and you will be in shock. I restored a 1969 and a big block 1971 the the prices I paid in the late 80's and early 90's are about half of what they are now. this would need a body off restoration and a long time to accumulate parts. if the engine is not original they the price for the car goes way down. Having gone down the rabbit hole twice I would say let somebody else take the hit. I would bet you it will never be completed by the family. it will be the family mummy.

vettebuyer6369

I’m not sure how the car could have been estimated for a value/offer until the block numbers were checked. That one item could be an enormous difference.

Cratecruncher

That's easy for you to say. But you weren't there. I only had 10 minutes to look at the car in a dimly lit garage while a millennial was badgering me with conversation about everything in the garage EXCEPT the Corvette. I knew the owner for 20 years and he'd had it for nearly 50. The only time the car could have had a swap was before he owned it. In 1975 the car wasn't worth enough to find another 427 and most people just dropped 350s in them back then. I knew the family was making decisions about the cars this weekend so I needed to move or I'd not have gotten ANY chance at the car. I would have done a better inspection before the check left my hand. But in the end even if I'd offered $25k it wouldn't have mattered. A son-in-law who likes cars wanted it. It's damn hard to compete with FREE CAR.