While the pictures in the listing for this 1972 Chevrolet Corvette LT-1 aren’t the greatest quality, the claim of this car being “ultra-rare” is actually quite true! It’s listed for sale here on eBay and bidding has already topped $22,000 with several days to go. Unusually for a vintage Corvette convertible, especially one with air conditioning, this one is located in the northeast US in Hamden, Connecticut.
As the seller states, this car is a restoration project, but the engine is running and claimed to be numbers-matching. The car was originally Ontario Orange with a tan interior. So what’s so rare and special? I’ll tell you. In the early 1970s, Corvette’s performance (along with pretty much any car) was taking a hit due to increasing emissions requirements. One way Chevrolet fought back was to introduce the LT-1 optional engine package, which was a 255 horsepower (up from the base ZQ-3’s 200) 350 cubic inch small-block V-8. The package was first offered in 1970 and continued through 1972, but was only offered with air conditioning in 1972. Only 1741 1972 Corvettes had the LT-1 engine, and of those only 240 had air conditioning — and it’s been hypothesized that less than 30 were convertibles! One article I found while I researched this post stated that a 1972 LT-1 convertible with air conditioning would be considered a “blue-chip” collectible! By the way, that LT-1 engine was a $483.45 option in 1972 — the equivalent of $2,985.30 today!
Of course, with a Corvette like this you have to worry about the frame and birdcage rust, so a PPI would be a good idea. Or you can ask the seller for a video walkaround as they have offered in the auction listing! If any of you do that, please let us know what you find in the comments.
One of the nicest things about working on a Corvette like this is that everything, including complete interiors, is available for purchase. So a scene like this doesn’t worry me.
It’s always nice to see the air conditioning belt in place — that gives me hope that the system can be resurrected without too much work. Not only that, but this rare car is only showing 44,000 miles. No idea if it’s true, but it doesn’t hurt! What do you think about this rare Corvette — I’d love to have it in my garage!
I am going to bet the Ontario Orange paint makes it even rarer. I don’t remember EVER seeing an LT-1 Convertible in that color.
My ’71 LT-1 Convertible was Ontario Orange, Black convertible top, black vinyl interior.
Nice! I did not know Ontario Orange was the most common color in 1972.
Pics of the underbelly look pretty good but full inspection for 23 large. Rust belt car. Might be a great project but the price is getting up there. Good luck and stay safe.
Cheers
GPC
Only going to take $100,000 to get it to those standards, maybe PLUS the buy in !
If it is a real numbers matching LT1, 4 sp with AC and a convertible (which I don’t personally prefer) IF done to NCRS standards it should be worth more than $50K.
Did not read the article closely yet. If it is an Ontario Orange car, personally, that is IN MY OPINION, not going to help the car. Unique color. Either love it or you don’t. I had an Ontario Orange 72 Stingray, bought on a good deal, drove it, sold it to make a buck.
I don’t know what an NCRS restored version of this car is worth off the top of my head BUT pretty sure it is STILL going to be worth LESS than the investment.
I am not saying DON’T RESTORE it but it should probably be purchase by a High End Corvette Resto Shop to make the numbers work right for everyone, all the way around, in the end.
Running with no cooling system hoses?
Wow. The perfect car for southern California!
Note – the LT1 had 370hp when introduced in 1970.
Different method of measuring HP between 1970 and 1972.
1970 LT-1 had a 11.0:1 compression ratio, 370 Horse power, ’71 LT-1 had 9.0:1 C/R and 330 horsepower, thinking that they measured net vs. gross horsepower in ’72 ? but not really sure. I’m positive someone will correct that.
I believe that the LT-1 also switched from solid to hydraulic lifters for 1972. That would be the reason that only the 1972 models were available with A/C.
Huh?
I pulled up the specs on 2 different sites and they both listed the 72 LT1 as a solid lifter engine.
Not true, the 1972 Lt-1 was the last solid lifter Corvette, motor is identical to the 1971 330HP, except it went from Gross to Net Rating. @ 255 HP, other signs are a lower redline tach that is the same as the base motor because they were worried about fan belts coming off. In 73 this motor with a softer cam and hydraulic lifters became the L82.
No mention of the parts not on the car (and there is a ton). But, per the seller, all ya have to do is “install new brakes, new interior, new paint, new chrome and done”. DIY gonna be $1k for brakes, $5k interior, $15k paint, $5k chrome (assuming you have something to chrome) and then lets throw in tires for another half a thou. Hopefully the engine runs decent, the clutch pedal on the floor is there because the linkage is apart, the trans shifts smoothly, and the rear end doesn’t whine. Oh, yeah, lets hook up the e-brake, put on new exhaust, rebuild the vacuum wiper door, and fix up the AC for another couple grand. And, unless you’re going to put the top down for good, toss in another half a thou.
Then, by golly, you’ll have a gen-u-wine 1972 Corvette…as attested to by the NCRS.
Ok, I’m done.
And you might still make money (Not a lot) when you sell it.
If rarity= value, and most of us agree it does, this car might very well be worth whatever it takes to get it in “original” condition. 30 LT-1 AC Convertibles. Could 15 have been painted Ontario Orange? Maybe. Of that group how many survived? I’m thinking this car might be one of ten tops. Below is from a Dealer’s write-up.
Out of the 20,000+ corvettes that were built in 1972, only 1741 of them were ordered with the LT1 engine. Of those, it’s generally noted that only 240 left that factory with factory A/C. But it’s not known how many of those were convertibles, many corvette enthusiasts have done the math as far as production % and it’s generally assumed that less than 30 were LT1/AC/convertibles. This gorgeous 1972 Corvette LT1 convertible is one of these rare Vettes. Restored and documented by still having the original tank sticker on the fuel tank, this LT1 belongs in any serious Corvette collector’s garage.
The “Dealer’s write-up” car you mention has an “asking” price of $67k…BUT, it is a pristine example with full history. plus leather, plus smog, plus ign shield, plus, plus, plus.
While I would say desirability = value (I’ve had some rare cars that I couldn’t give away!), this Vette has both rarity and desirability going for it, plus a great color combo. Home run all the way.
Rare? Not a Corvette fan and to me, seen one, seen them all.
Thank you for that informative comment. May I suggest you skip any future posts that have the word “CORVETTE” in the caption? It will you time.
The Lt1 is a beast , simple , powerful and dependable.
Pristine examples with the docs bring the big money. This one would require the Brinks truck and won’t bring the big bucks. Matching numbers(if true) will help somewhat.
A/C not available in 1970-71 because the high engine RPM would throw the fan belt off.
The 1972 has a lower red line on the tach.
Same engine, different tach.
Easy fix
6500 red line in 1970-71
5500 red line on this 1972 LT-1
Very good write up Jamie.
A very special car.
Had a white convertible LT-1, A/C, power windows, both tops
A beast in sheep’s clothing :-)
My 1972 Corvette LT1 convertible had tan leather.
Why oh why did I sell it.
Thought I made big money then.
Foolish me.
Rust in the birdcage scare the crap out of me. That’s what killed my ’71. In the early 2000’s the best quote I got was $6000 and didn’t include paint and body work. Full inspection would tell if this was more than a parts car, but, $22 g’s freaks me out.
70 LTI Vet was solid lifter. I would guess 71 was also. Am I correct in guessing that 72 was NOT a solid lifter engine, hence the availability of factory air? I am curious. No guessing please. Someone who knows the answer, please reply?
As George stated the ’72 was solid lifter. The only difference was the literal red line. ’70-71 had 6500 rpm tach and ’72 had 5500 rpm. No rev limiter so you could still toss the belts in a ’72.
It wasn’t just the tach that changed 1972 LT1’s were changed from the solid lifter motors of 70/71 they installed the 350/350 hyd. cam plus changed the intake to a cast iron unit with a Q-jet carb in place of the hi-rise alum. /Holley carb of the previous 2 yrs. plus the net v gross rating that’s why it’s 255 HP and not the 330 from 71 because of the hyd. cam that’s also why air cond..was now available
Since we had conflicting stories on the engine, I pulled up a website called The Corvette Story.?.? In the specs for 1972, it lists the LT1 with solid lifters and gives the specs for adjustment. To quote the great American philosopher Stan Lee; nuff said.
1 have a # matching72 LT-1 coupe 71 72 r the same, 70 had a smaller chamber head 67 68 cc and bigger ove r lap duration cam thats why it had 10.5 to 11.0 to one comp.71 and 72 both 9.0 to one compression due to in cress in chamber now 76 cc ,would run on leaded or unleaded gas 71 rated at gross hp 72 mandated net hp ,hence trhe diff 330 hp for 71, 255 net for 72 all three came with pink rods ,winters allm intake and dual feed holly780 some had 800 cfm . all had forged steel cranks and 4 bolt mains,i bought mine in 1980. some time in the mid to late 90s i heard that the cars came with 780s ive been in the auto trade for 45 years,never knew that ,to to james r ,im pretty sure the motor u r talking about is the 73 vette that year it had a l-82 .hyd lifter 350 .
Ray. The last solid lifter engine EVER in a Corvette was the 72 LT1. 255 hp. If the car had AC, the redline was lower. I work on Corvettes and have personally seen AC belts fly off. The red line in 70 and 71 cars was 6,500. Not sure about 72. It certainly was a beautiful car new. Frank, Ontario Orange was very popular that year. In fact, the first 72 LT1 with air O ever saw in 1977, was this color. Very nice with saddle interior. I predict the 70 LT1 Corvettes will some day be a $100,000 car. I saw a Top Flight one sell for $84,000 so it will happen. Had a chance to buy a really original 70 LT1 coupe never hit and orig paint for $22,000 at Corvettes at Carlisle in 06. Donneybrooke Green with saddle leather. Smog still on it. Had two kids in college at the time. Maybe someday. For now, I enjoy my 73 L82 coupe 4 speed.
Thanks George! Great post. As you may have noticed, this car has really caught my eye. I am in no position to do anything about it, but I hope we can get some details in the future on how this all plays out.
Cheers!
Thanks George. It never hurts to broaden your mind. I’m not a Vet guy but I am Bow Tie. I do know that this car is not overpriced, if it is as good as it seems to be. I think it will go for somewhere between 30 and 35 before it’s over. I guess we’ll see if I know Vets or not. LOL Thanks again.
6500 red line in 1970-71
5500 red line on this 1972 LT-1
Look, It is right there in the pictures posted in this sale!
Huh?
I had a 1972 Corvette LT-1 yellow with black interior NO A/C did not know you could get it, a friend of mine had a 71 LT-1 Vette and in an impromptu race the two cars were pretty identical , fun car I wish I had it
44k miles, and in this condition?
I own a 1972 lt1 spec paint convertible
And a 1972 z28 spec paint car both
Have the same cam as the 1971 just gross to net hp rating is the only difference
Both came with 780 holly
Note the cars were built 3 days apart
Camero has black hand written on build sheet
Vette has no built sheet just traces of black factory primer car
Black was not available in 1972
I have a 1972 lt1 air traded a 1970 convertible for it and booty it has steal cities gray and a t-top. The numbers I that I have seen was 286 total 46 convertibles and 240 t-tops and solid lifters with the 5600 red line tack only showing 49k miles I traded in 1998 what a nice car it has a repaint and carpet thats all I have done to the car.Thanks for reading.
I have a 1972 corvette LT1 coup with air ! Targa blue