maybe you'll get lucky and find a 454 under the hood... yum.

 

Mrmiata,

the birdcage is comprised of the A pillars, the T top and the B pillars .

Also check the vacuum operated headlights and wiper door. The vacuum system can be costly if it's not working with parts missing. Ask for original doc's like build sheet or tank sheet, bill of sale, maintenance records. These would add to the value as well as a matching engine.
Inspect it before it is painted. Check the bonding stripes that hold the fiberglass together, top of fenders and 1/4's.

also go to the forum.

 

1973 was a great year for a ragtop Vette in driveable condition for $8k!

Yes, engine performance started to suffer after 1971. Most of that is detuning for the eventual arrival of the catalytic converter by reducing compression ratios and adding smog controls, such as the air pump to the engine. Catalytic converters weren't added until 1975 (probably earlier in California). Pre-1975 models can be tweaked for older L82 horsepower levels without too much effort.

Anyway, unless it is an LT-1 or some other very rare model, the real value is in what shape it is in. If it is a completely original L-82 with low miles, you value will obviously be higher.

 

Thank you everyone for your input. At least I won't feel like I'm wearing a blind fold and handing out cash now!

Wife is the one that said "ohhh..." on this car, but I'm not opposed by any means.

I'm kinda in the middle, since if this doesn't pan out she'll be back on the vanilla interior roadsters..

 

Seriously, around here, if not an LT1, it would be lucky to bring 9K in excellent shape... Usually runs by the years on the regular vettes. Except pre 1971...they can bring more. But after 70, a 71 is usually in the 7100 dollar range, and it goes up....76 is 7600 dollars and so on...unless they are rare like the LT1 or a Pace Car...something on that order...good luck...and yes, the frames will rust on some of those 70's models...

 

That's what I was always told to look for rust on the frames . Especially on the early 70's models. Good luck I hope it all works out for you

 

In 1972 advertised HP ratings changed from Gross HP to Net HP. Gross HP ratings were very nebulous and manufacturers were known to list whatever they wanted.

Generally, subtracting 25% is good rule of thumb for estimating Net HP from Gross HP. Larger engines tended have more inflated gross HP numbers than smaller engines. To keep it simple, I mentally subtract 100 HP when talking about pre-1972 ratings. When I hear "425 HP big block chevy" I think "325 HP big block chevy".

This website has some really interesting info.
Understanding Gross vs. Net Horsepower Ratings

This thread on a GM forum has some GREAT data comparing the Gross HP & Net HP ratings for 1971 engines.

Net and gross ratings for 1971 GM + Mopar engines

The SAE standard changed again in 2005 and is the reason many engines were rated lower HP in 2006.

 

This link will answer anything you could ever want to know about C3 Corvettes, like the one you are looking at. LINK On the left side of the screen are links to suppliers. Check out Wilcox and Corvette Central for an idea of what parts cost. I am building a 79 C3. With the help of that web page I linked to, mine now has a roller cam motor with Tuned Port Injection and a four speed automatic. You should go to the link and search both "Birdcage" and "Frame rust". These are the two most important things you need to know about before you spend a cent! The next time you go see this car, remove the kick panels in front of both doors on the inside of the car. What you will see is the bottom of the Birdcage, where it fastens to the frame, and a place you do not want to find rust. I bought one from LA (no rust) off E-Bay I had the owner post photos of the frame and body before I bid. I got the car for $5300 and flew to Los Angeles to pick it up. It was in such good shape, my wife and I drove it up the coast all the way to Seattle.