One of the most frequent questions we are asked is about the pricing of project Corvettes. These are cars defined as non-running and in many cases they may contain damage and rust to the body and frame. Placing a valuation on a project car is done for the most part just as you would do a running Corvette: determining the condition, options and documentation. However, emphasis should be placed on the condition of the Corvette as well as surveying the car’s current components and determining what, if any parts may be missing. And of course the question you should always ask whether the Corvette is a project or NCRS Top Flight is about documentation, because a project car with documentation will always be more valuable than one without.
Having said that, we were contacted by KR in Kansas who inquired about the value of his 1966 Corvette Convertible that hasn’t run in over 15 years.
1966 Corvette Convertible, VIN 194676S113XXX. Nassau Blue with black vinyl interior. 4-speed transmission. The Corvette has a replacement, non matching numbers 327-300 hp block with the original engines heads, intake and carburetor. 61,553 miles are shown on the car. The engine hasn’t run since 1993. The body has several problem areas. Clock is missing but most other parts are either still on the car or stored with it. No documentation.
Find out how we valued this Corvette after the jump.
The VIN # indicates it was built in February 1966, midway through the production year. The mileage of 61,553 is stated as correct by the owner of the vehicle.
This 1966 Roadster is Nassau Blue in color and the paint can be considered as being “marginal.” The fiberglass body panels need minor repair in several areas, however, they have not been modified.
The frame of the Corvette has surface rust partially due to not being driven and sitting in a non-heated storage facility since 1979.
The bumpers and wheel covers are original, but not on the vehicle. The tires definitely need replacing.
This Corvette Roadster is powered by a non-original 327-300 motor. The original motor threw a rod through the side of the block. The replacement motor has the original heads, intake manifold and carburetor from the original motor. The original radiator was removed but is available. The engine has not been run since 1993. It is coupled with a 4-speed manual transmission with the correct shifter.
The interior of this 1966 Roadster is the standard Black vinyl. The instrument panel is missing the clock and will require minor repairs. The door panels and seats can be considered in acceptable condition.
This 1966 Corvette Roadster has the optional removable hardtop that is in place.
Bottom Line: The Corvette will take a considerable amount of work to become roadworthy. In addition to the motor not running and the radiator not being in place, the brakes will need to be completely redone as well as the electricals.
As this 1966 Corvette Roadster sits today, we place a value of $20,000 on it. In today’s market, one in average condition will command a price in the mid-forty’s.