At first glance, this 1962 Chevrolet Corvette looks like just another C1 begging for restoration. However, we must delve below the surface to discover the ace up its sleeve. Only 13% of buyers that year splashed the considerable extra cash for the optional fuel-injected powerplant, and this is one of those cars. It isn’t a cheap project candidate, and it will be fascinating to gauge your feedback on its potential. The Corvette is listed here on eBay in Amherst, Virginia. You could take this classic home for $34,000.

The 1962 model year marked the end of the line for C1 Corvette production. After an inauspicious start, the badge cemented its place in the American market and remains an integral part of the motoring landscape to the present day. This C1 requires total restoration, and there are only brief glimpses of its original Roman Red paint. It appears to be a stalled project, and its general condition suggests a frame-off approach would be the best bet to achieve the result it deserves. The fiberglass has imperfections, but the most significant issue could be the rust that has attacked one area of the frame. It isn’t extensive, but entirely dismantling the car should allow the new owner to return it to a structurally sound state. Some trim pieces are missing, but the car scores points courtesy of its factory hardtop and the original owner’s decision to spend $139.90 on a power soft-top. That is particularly noteworthy because only 350 buyers selected that feature.

This Corvette is consistent because its interior requires the same level of TLC as the exterior. It is missing a few parts, but critical components like the seats and gauge cluster are intact. There is little to say beyond the fact a total retrim is the only solution to bring it back from the dead. Kits are readily available, and although they aren’t cheap, there is no other viable solution if the new owner aims for a high-end, faithful restoration.

One of the most significant changes to the Corvette’s specifications for 1962 was a capacity increase for its V8 from 283 to 327ci. The status quo would remain until 1969, when the small-block was stretched further to 350ci. This Corvette features an engine that the seller suggests is original, but it could be this car’s crowning glory. Chevrolet offered Corvette buyers three optional engines to power their new purchase, with the fuel-injected version the most desirable. However, it also added $484.20 to the car’s sticker price, helping to explain why only 1,918 buyers ticked that box on the Order Form. This is one of those cars, and it would have delivered 360hp and 352 ft/lbs of torque in its prime. The power was fed to the rear wheels via a four-speed manual transmission, allowing this classic to storm the ¼-mile in 14.1 seconds. Keeping the foot to the floor rewarded the driver with a top speed of 143mph. Those figures look respectable today but were considered genuinely impressive in 1962. This motor is essentially complete, but the photos suggest it might be missing the air cleaner assembly and a few minor components. The condition of the drivetrain is unknown, although the seller admits the transmission is jammed in gear. Budgeting for a complete mechanical rebuild would be wise, especially since it appears this classic may have hibernated for decades.

Enthusiasts searching for an affordable project candidate will probably bypass this 1962 Corvette because its price isn’t cheap. It will need deep commitment and a deeper wallet to recapture its lost youth since every aspect of this classic requires significant attention. That begs the question of whether the costs are justified. Fully restored, a six-figure value awaits the owner who achieves perfection. The path to that point will be long and arduous, with history showing that there will inevitably be unplanned issues and expenses that will add to the restoration costs. However, if viewed as a long-term investment, rolling the dice might be worth the risk. Do you agree?