What's a '69 Z-28 or L78 project car really worth?

[SeattleCarGuy]

Hi all,

I am looking for another project car to restore to as close to concours original condition as I can. I am interested in restoring either a '69 Z-28 or '69 L-78 Camaro. I just finished my '69 L-78 Nova earlier this year and I can't stand not having a project in the garage. I had bought a '69 L-34 Chevelle to restore, but it needed so much body work (floor, quarters) that I decided to sell it. I don't want to end up too far underwater, if at all, so it needs to be a desirable Z-28 or L-78 to make it worthwhile. I plan on keeping the car when done, not selling.

Anyway, over the past couple weeks, two local projects have surfaced:

The first was a '69 L-78. Seller described it as "numbers matching" L78, non-matching M21. I went to look at it. It is a rolling chassis, but other apart; front end off, dash apart, solid body except for trunk floor and one quarter needing replaced. Comes with solid fenders, replacement quarter panel, 837 alternator, correct carb/intake, has console/gauges and high rev tach in dash. No paperwork to prove its real L78. I looked at the motor and it is stamped JH, but with a Nova VIN number (guessing based on "W" in VIN), and motor is dated April 69 assembly, while car is a "02A". Code 57 fathom green car and interior is 712. I pointed out to the Seller that the engine was wrong and most likely out of a Nova. He seemed surprised and said "you can deck the block and restamp it". He wants $17,000 and I said I would have to pass since I want to do a car completely right, but it has to be right to start with. He asked if I'd make an offer, so I believe it could be had for $15,000, but again, I am passing.

Next up is a '69 Z-28. Fathom green, white stripes. Original 302 is gone, but has replacement 302. Not a CE block, but Seller is third owner and claims original 302 was blown up 40 years ago and he bought this 302 from wrecking yard in 1970's. Has incorrect heads, but correct intake, distributor and 837 alternator. Car has been sitting in garage for 30 years. Lots of NOS parts gathered in 1980's when restoration was to have begun, but never did. Standard black interior car, but has diamond tuck custom door panels and seat covers, so needs full resto interior. Seller claims body very solid. Says it is an early car that came with flat hood, but has a real GM cowl hood on it now. No paperwork to go with it, but claims its a real Z-28 based on trim tag (X code?). I am going to see the car this next weekend. Tried to see it last night, but got home to late. Seller says he was offered $17,000 and turned it down. Seller's friend says that is "doubtful" and that Seller would likely take $15,000. I am going to go see it, but I will likely pass I really want an original drivetrain car with docs or other proof. Seller claims M21 and rear end are original to car, but again, engine is not.

Is $15,000 - $17,000 kinda the going rate today for these projects? Would $20,000 be the going rate with original drivetrain and docs?

Also, I am not crazy about fathom green, but its okay. Not to offend anyone, but the only color I am really opposed to buying is Daytona Yellow.

Finally, I have a friend that has an original drivetrain Hugger Orange Z-28 with docs. He has owned it since 1989. Original paint, maybe 60,000 original miles. Engine is all there, except it has headers and manifolds/smog are long gone. Standard black interior with console/gauges and has cowl hood. He hasn't driven it in 3-4 years, but it runs and drives. He is willing to sell it also. What would be a fair price for this car?

Thanks everyone.

Paul

[watk69]

Doing a Concours on anything without the Big 3 (orig block, trans and rear end) is $ not wisely spent. Your friend's Z is the best alternate no matter what he wants for it of the 3. I seriously doubt you can find a running driveable Z-28 with original drivetrain and docs for 20k

[Tracker1]

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: watk69</div><div class="ubbcode-body">Doing a Concours on anything without the Big 3 (orig block, trans and rear end) is $ not wisely spent. Your friend's Z is the best alternate no matter what he wants for it of the 3. I seriously doubt you can find a running driveable Z-28 with original drivetrain and docs for 20k

</div></div>

Agreed, and I'd add finding one that is NOT running, halfway solid, with original docs and drivetrain is still going to ask more than 20K

[enio45]

i would go with a nice running car - with the big 3....this allow you to take it apart, know whats there, what needs replaced and if original, your using orig parts to restore the car.

now having said the above - it will cost you more - i would say in the 30-40K range for either the z or the l78

[Charley Lillard]

&quot;Finally, I have a friend that has an original drivetrain Hugger Orange Z-28 with docs. He has owned it since 1989. Original paint, maybe 60,000 original miles. Engine is all there, except it has headers and manifolds/smog are long gone. Standard black interior with console/gauges and has cowl hood. He hasn't driven it in 3-4 years, but it runs and drives. He is willing to sell it also. What would be a fair price for this car? &quot;

Sounds like too good of a car too restore. Get pics. The other two I would avoid. Be patient in your search.

[firstgenaddict]

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Charley Lillard</div><div class="ubbcode-body">&quot;Finally, I have a friend that has an original drivetrain Hugger Orange Z-28 with docs. He has owned it since 1989. Original paint, maybe 60,000 original miles. Engine is all there, except it has headers and manifolds/smog are long gone. Standard black interior with console/gauges and has cowl hood. He hasn't driven it in 3-4 years, but it runs and drives. He is willing to sell it also. What would be a fair price for this car? &quot;

Sounds like too good of a car too restore. Get pics. The other two I would avoid. Be patient in your search. </div></div>

X2
Even if you pay 10k more for the hugger orange car with docs and born with drive train you will come out way ahead, factory paper and matching numbers goes A LONG WAY on resale. Make sure the paper is real!

[DW31S]

I would highly recommend against buying a car that is apart. Unless you were present during the dismantling, and can be certain everything is accounted for, I'd bet some things are missing. And if some of the L78 specific stuff is missing, all bets are off. I can't ever remember hearing about one of those stories that had a happy ending. The prices of '68-'72 Novas have risen significantly, but I think the amount of potential buyers who would have the funds necessary to purchase a restored L78 Nova is less than the amount of buyers that would have the funds required to purchase a restored '69 Z/28 with both cars hypothetically being in the same condition. The selling prices might fall pretty closely; the number of interested parties not so much. And I think the savvy buyer who is educated enough to understand the value of a true L78 Nova isn't going to &quot;buck-up' for a car with a questionable drivetrain.
The second car, in my opinion, isn't the worst car in the world to start with in terms of price vs. value. Personally, I like Fathom Green, (and Rallye Green and just about all the &quot;Earth Tones&quotand it sounds like there is enough stuff present that could be sold to lower the initial starting point money-wise. The GM cold-air hood, the diamond-tuck interior, etc. are items that could yield some good sale prices and offset some of the cash outlay.
It sounds like neither one of those cars would ever have a true &quot;born with&quot; drivetrain, but with today's terminology they both could be &quot;matching numbers&quot;. I wouldn't represent either one as such, but many (including some auction houses) would.
Out of the three cars you presented, (IMO) car #3 seems to have the most potential in terms of money, time, work versus return. Car #3 also sounds like with some TLC it could be turned into a fun &quot;Cruise Night&quot; car in the not-too-distant future. The pieces that are missing are certainly available, in fact you could probably make one call and get everything and not have to settle for aftermarket repros. Car #3 also sounds like it would be very desirable when restored and would sell rather easily. As to whether or not it would make a profit, there are far too many variables we do not know at this time to render a guess. I'd say if that car is relatively rust-free and is what I'm imagining from your brief description, it is probably worth in the $30-$40k neighborhood depending on what else might be missing/present...(bellhousing, shifter, original wheels, etc.)

[firstgenaddict]

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: DW31S</div><div class="ubbcode-body">
Out of the three cars you presented, (IMO) car #3 seems to have the most potential in terms of money, time, work versus return. Car #3 also sounds like with some TLC it could be turned into a fun &quot;Cruise Night&quot; car in the not-too-distant future. The pieces that are missing are certainly available, in fact you could probably make one call and get everything and not have to settle for aftermarket repros. Car #3 also sounds like it would be very desirable when restored and would sell rather easily. As to whether or not it would make a profit, there are far too many variables we do not know at this time to render a guess. I'd say if that car is relatively rust-free and is what I'm imagining from your brief description, it is probably worth in the $30-$40k neighborhood depending on what else might be missing/present...(bellhousing, shifter, original wheels, etc.)
</div></div>
X2 the completeness and originality... 837 alt, 480 dist, 289 4053DZ correctly dated, correct baseplate, shifter, 5 wheels. I know of a few in the 50-60k range which are original paint nice running serviceable cars which have the original alt carb dist radiator etc.
30-40 is a good mid starting point adjust up or down based upon condition completeness colors options etc.

[marxjunk]

people love to buy complete cars..most running driving and blast them apart...

most people dont want a blasted apart project..ive seen it so many times..and been a &quot;victim&quot; of buying a torn apart car with the guarantee every piece was there...and its never always there..it scares people to buy and move a dismantled car too..


its a buyers market period...wait til the right one comes..because it will

[firstgenaddict]

I don't mind buying a disassembled original car, I can inventory the major items, knowing there will be clips bolts fasteners missing. if doing a resto, much of the tedious dirty work has been done.
If the car has had panels installed and the deck lid and doors are not bolted on it, grab the doors and deck lid and check them... the 1/4's etc may have not been hung correctly body may have not been square etc.