Introduced in 1968 and produced until 1982, the third-generation Corvette was the longest-running iteration of the nameplate. It was born at the height of the golden muscle car era and soldiered on through most of the dreaded Malaise era. As a result, early C3 Corvettes are more sought-after than mid-1970s and early 1980s iterations. Value usually depends on what’s under the hood.
Like its predecessor, the C3 was available with both small-block and big-block V8 engines. The former were quite powerful until regulations forced automakers to abandon high-compression mills. In 1970, the 350-cubic-inch (5.7-liter) engine delivered as much as 370 horsepower.
The big-block units provided even more oomph. The 427-cubic-inch (7.0-liter) lump came with 390 to 460 horsepower, while the 454-cubic-inch (7.4-liter) V8 sent 360 to 460 horses to the rear wheels. These big-block units produced from 1968 to 1971 are what collectors are looking for in a C3 Corvette nowadays.
The LeMans Blue example you see here came out of long-term storage and looks like a proper barn find. But don’t let the weathered paint fool you. This 1969 Vette is a highly desirable classic thanks to the big-block V8 lurking under the hood. The unit in question is a 427 L89, which also happens to be a rare option.
Offered in 1968 and 1969, the L89 was pretty much an L71 with lighter aluminum cylinder heads rather than the standard cast iron. It wasn’t a race-ready mill like the L88, but it had plenty of oomph at 435 horsepower and 460 pound-feet of torque. It was also so expensive that only 390 customers checked the option. Chevrolet sold nearly 39,000 Corvettes that year, so only 1% were equipped with the mighty L89.
The car would be much rarer if we factor in the convertible body style, the (unnamed) four-speed transmission, and the blue color, but I don’t have official figures to run by.
Not surprisingly, for a car that “has been off the road and in storage a very long time,” the L89 engine doesn’t run, and it’s missing the intake and the carburetors. But it’s a numbers-matching unit, which is the best news you can get regarding a classic from the golden era.
Visually, the Corvette doesn’t look half bad on the outside. The original top is still in place, and the seller says he has “an original” hood for the car. The interior is also in decent condition. There’s dirt and some wear and tear, but this cabin will spring back to life with proper detailing. The two-tone upholstery is all-original, yet another big plus. The floors have some surface rust, but the panels are still solid overall.
All told, we’re looking at a nice survivor with all sorts of desirable features. The L89 engine, the four-speed manual, and the blue-on-blue color combo make it the perfect candidate for restoration. Once revived to factory specifications, this Corvette will be worth in excess of $100,000.
Speaking of dough, more than 30 bids have pushed the price to $27,600. The sticker is still below the reserve, and the auction is scheduled to end in a couple of days. The C3 is in Jackson, New Jersey.