NEW! Award 122: 1962 Chevrolet Corvette 327/360 FI 4-Speed Project – SOLD!

by | Dec 2023 | Craigslist ClassiFINDS, NEW Award, Sports Car Saturday

(To stop the slideshow and expand the pictures, click on the current photograph below)

January 5, 2023 Update We confirmed the seller of this “Classifind” deleted their listing, which is typically a sign the car has been sold.  If that is truly the case with this C1 Corvette project untouched for the past three decades, then we’ll gladly call this one, “Well Sold!”  Our experience, however, has us wondering whether we will see another listing for this car in the coming months.  While this one got away, please reach out either by email or call us directly if you’d like to be informed when we come across something similar.

We’re approaching an inflection point in the classic car hobby regarding Classic Corvette restorations. With the price of everything exploding during the past few years, a Concours quality restoration of a first-generation Corvette (1953-1962) can easily exceed $150K. Our question is this: with an ample supply of already-restored examples, why would anyone take on that expense to add another over-restored C1 Corvette to a fairly robust supply?

This all-red 1962 Fuel Injected Chevrolet Corvette project for sale, first spotted on Craigslist in Amherst, Virginia (Lynchburg) in December 2023, is tempting.  Not just any run-of-the-mill 1962 Corvette, the project car features the top-of-the-line fuel-injected 360 horsepower 327 cubic inch V8 mated to a four-speed manual transmission.  This example also features rare (for the period) power windows and a power convertible top to compliment the removable hardtop.  When we first came across this listing when it went live on December 13, 2023, the seller initially asked $55,000. Almost immediately, they lowered their asking price to $49,000.

If (the pictures do not show the removed door cards, bumpers, and other trim bits) this Corvette comes complete with all of its parts, then we would consider it a #5 Condition “Restorable.” 1962 Corvettes change hands quite frequently, so there is ample pricing data from several sources to illustrate the current pricing for 1962 Corvettes with similar options:

1962 Chevrolet Corvette Pricing By Condition Table

As the table illustrates, the going rate for a Condition #5 Corvette needing a complete restoration averages in the high $20s.  Spending anything over thirty large on this example would be, at best, considered “well sold.”  Unfortunately, we’re unsure how the seller calculated their asking price.  Their asking price is in the range for a driver-quality, running, and driving example, not a project car needing everything.

Sadly, the Craigslist ad reads like there too many listings for stalled classic car projects.  This Corvette has been in storage for over thirty years, and the seller states, “What is listed is what is known.”  With that kind of description, it’s likely this C1 was purchased three decades ago to restore it, but for whatever reason, that never happened.  Unfortunately, the seller’s asking price is completely out of touch with the car’s condition, so we’re awarding them our latest “NEW!” (short for “No Effin Way!”) for listing an asking price that is completely out of touch with the current marketplace.

 

 

The 1962 Chevrolet Corvette represented the final year of the first-generation Corvette, often referred to as the C1 (Corvette generation 1). This particular model, equipped with the 360 horsepower fuel-injected 327 cubic inch V8 engine, power top, power windows, and a 4-speed manual transmission, was a high-performance variant that remains highly sought after by collectors and enthusiasts.

The heart of the 1962 Corvette was its powerful engine. The 327 cubic inch (5.4 liter) V8 engine was one of the most iconic powerplants of its time. When equipped with fuel injection, it produced an impressive 360 horsepower, making it one of the most potent engines in the Corvette lineup.

The fuel injection system was a significant technological advancement for its time. This system ensured precise fuel delivery, optimizing performance and efficiency. Fuel injection was still a relatively new technology in the early 1960s, and Chevrolet’s use of it in the Corvette demonstrated the brand’s commitment to pushing the boundaries of automotive engineering.

The 4-speed manual transmission added a level of driver engagement and control, allowing enthusiasts to exploit the power of the V8 engine fully. The manual transmission was popular among sports car purists, providing a more direct and engaging driving experience.

The power convertible top was a convenient and luxurious feature, allowing drivers to easily raise or lower the top with the push of a button. This feature added a touch of sophistication and made the Corvette suitable for open-air cruising and closed-top driving.

Power windows were another premium feature that enhanced the Corvette’s overall comfort and convenience. The ability to control the windows with the touch of a button was a luxurious touch, especially in the early 1960s.

The 1962 Corvette featured the iconic and sleek design characteristic of the C1 generation. The quad headlights, the distinctive grille, and the prominent fender lines contributed to its unmistakable appearance. The Corvette’s overall styling blended elegance and sportiness, reflecting the car’s dual nature as both a grand tourer and a high-performance sports car.

Inside the 1962 Corvette, you would find a driver-focused cockpit with performance-oriented features and creature comforts—the interior design aimed to balance sports car functionality and a touch of luxury.

The 1962 Chevrolet Corvette is considered a classic and desirable collector’s car, especially in its high-performance configurations like the one you described. Its blend of performance, style, and advanced features for its time has contributed to its enduring popularity among automotive enthusiasts. Today, well-maintained examples of the 1962 Corvette with the 360 horsepower fuel-injected 327 V8 and additional features are highly prized in the classic car market.

The Ferraris Online YouTube Channel provides this modern look back on why the 1962 Corvette is special and why it continues to cross generations of enthusiasm for it:

The thirteen pictures provided say it all: this 1962 Chevrolet Corvette Fuelie project for sale needs everything. Additionally, there is documented frame rust. The seller cannot confirm whether the motor turns as the car is stuck in gear.  This C1 Corvette for sale may be a desirable Fuel Injection model with desirable options, but it will cost at least one hundred thousand dollars to bring this car back to like new condition.  This project might still be viable if someone can purchase the car for under $25K. At the current ask, it’s just not worth it.

If you are serious about buying this Corvette Fuelie, you can start the conversation by using the contact information provided by the seller in their Craigslist ad.  When you connect, please mention that you saw their C1 project car featured here on GuysWithRides.com. Good luck with the purchase!

Here’s the seller’s description:

“1962 Chevrolet Corvette hard & soft top. Factory fuel is injected, power windows, and power top. It has been in storage for over 30 years, is not running, and has an unknown mechanical condition. (Unknown if motor is locked up, transmission is stuck in gear). One small area of the frame must be addressed; the rest is very solid. Overall, it is a very solid, rare optioned car. Please see the pictures to get an idea of the condition. Regarding specific questions, what is listed here is what is known. I can provide more pictures of specific things upon request.
$49,000.00 (in-person transactions only, not interested in any trades, the buyer is responsible for transportation, the seller can assist with loading car).

Restore or walk away: What would you do with this 1962 Corvette Fuelie project for sale? Please comment below and let us know!

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