This 1972 Pontiac LeMans is a surprise packet. It appears that while it’s dusty, it’s not particularly rusty. It is a complete classic that the owner found in a barn, and it holds promise as a rewarding project car. Adding an extra ounce of temptation to this recipe is the owner’s decision to offer the vehicle for sale here on eBay with No Reserve. The LeMans is located in Alexandria, Alabama, and the bidding is sitting at a mere $2,550. There’s still some time left on the auction, so you could still throw your hat into the ring on this classic.

The LeMans rolled off the line finished in Cardinal Red, but the years have taken their toll. It looks pretty tired, and there are areas of surface corrosion where the paint has gone entirely. However, there seems to be little in the way of penetrating rust. Even the area around the back window appears to have nothing more than some heavy surface corrosion. The owner states that there is rust in the trunk pan, so the buyer will probably need to spend around $750 on a new pan. He doesn’t mention any issues with the floors, although at around $450 for a new one-piece floor kit, addressing any problems should not break the bank. Some of the exterior trim should respond positively to cleaning and polishing, although a few items will probably need to be replaced. The buyer shouldn’t need to waste a dime on glass, because it looks like it might be okay under the heavy layer of dust.

Once upon a time, the interior of this Pontiac must’ve been a pleasant place to pass the time. It’s now pretty tired, but there are a few positives to take away from the supplied photos. It looks like the dash and pad might be salvageable, and even the console shows promise. This is one of those cases where the buyer would be best served to spend time dismantling and cleaning everything thoroughly. There’s no point in spending money to replace parts that need nothing more than a clean. That’s an easy way to blow a restoration budget out of the water. There will be plenty of items like seat covers, carpets, and the rear parcel tray that are beyond help, so the buyer will already be spending some cash to whip the interior into shape. I also believe that the LeMans may have originally been equipped with air conditioning, but components are missing from the engine bay. That’s another puzzle for the buyer to solve.

The VIN for this Pontiac indicates that it rolled off the production line equipped with the M-Code 350ci V8. This motor would’ve been producing 175hp, which made its way to the rear wheels via a 3-speed Hydramatic transmission. The original owner also ordered the LeMans with power steering and power brakes. Emission regulations were starting to bite into V8 performance in 1972, and as a consequence, this Pontiac would’ve taken 17.2 seconds to cover the ¼ mile. This raises an interesting question about this vehicle. The owner claims that it is a GTO, and it certainly wears that badge and the correct twin-slot hood. However, according to the reference material I have, Pontiac did not offer the GTO with the 350. I am happy to be corrected on that, but if I am right, that has a dramatic impact on the financial viability of this car as a restoration project. The engine bay is covered with the accumulated dust, which suggests many years of inactivity. The owner states that he has made no attempt to revive the 350, and its condition is unclear. Once again, that is something that potential buyers might need to investigate.

If the floors of this 1972 Pontiac LeMans are as sound as the listing suggests, this could be a straightforward restoration project. However, its financial viability as a project car is going to hinge on a few key considerations. The most vital of these is to establish whether this is a genuine GTO. If it is the real deal, it should command a value beyond $40,000 once fully restored. If, as I feel sure, it proves to be a clone, you can slash that value by at least 50%. That is why I emphasize the need to conduct your research if you consider purchasing a project car with a cloud hanging over it. In this case, getting it wrong could hurt to the tune of $20,000 or more. What do you think?