Hello everyone,
I’m looking at getting back into a third gen as they’ve always been my favorite car. I have a question about collectibility. I’m looking at a 1992 Z28 convertible. According to the numbers, there were 1,254 produced that year. It is high mileage (159k) and an automatic. My thoughts are: doing an ls/t56 conversion, LS swap with automatic, or keep it the the way it is and rebuild the factory 305 tpi and tranny. I’ve done an auto to manual conversion before so I know the work that goes into that. Gonna redo the suspension as well. I love a manual transmission, but I have my Aston for that :-) so it’s not really that important that I convert this car to a manual. Really interested in hearing y’alls thoughts. Would the LS swap increase the value in the long run or make it go down?

 

I am in a similar scenario. I have an 89 Vert LB9 with the TH700R. It had 117,000 when I bought it. I bought it to have an enjoyable, rare and appreciated "driver" car that I could probably sell for about what I put into it- within reason. After fighting the stock powertrain for a few year, I eventually replaced the stock engine and trans with the 80's era performance stuff of a mildly built 5.7L and a T5. I also upgraded the car with modern capability but using stock 80's stuff- such as bluetooth and aftermarket amps but using a factory Delco-Bose head unit, I also added four deployable cupholders- although they are not stock, they do blend in well (those were the first modern upgrade I noticed that was sorely needed). The last mod I am planning is to internally route the footwell heater vents from the front, down inside the center console, and vent out also at the rear passenger's feet as well. The car is WAY more fun to drive now. As a side note, when the engine is out the T5 conversion is much easier to do at the same time.

As far as value, I'm not sure what a higher mileage, nice condition play car would fetch. It certainly wouldn't be collectible or a museum piece. That leaves "play toy" (my words, LOL). To me, my potential buyer is someone who wants to drive an era car around to enjoy it, not store it or just show it off occasionally. So I figured there is a maximum limit to what I could get for it, but also that improvements probably would raise the value considerably. I have no idea what my car is worth. I would be happy if someone offered me $15,000 for it but I really have no idea. That doesn't mean I would sell it. I just got it finished- mostly, and it is a sheer joy to drive around. My favorite moments are when middle aged guys lean out of a mini-van window and yell "Dude, sell me your car!!!" I suppose, to use eBay as an example, my "Buy it Now" price would be quite a but higher (anyone offering me $30,000 can take it today!), but maybe after I get it out of my system, that would come down and eventually I will want to sell it off.

 

I plan on keeping the car for a long time. An Ls/t56 would be awesome to drive in a third gen. My last car had a mildly built 350 with the t56 but it was a project and didn’t see much road time but still fun as hell. I know you hardly ever get the money back you invest in a vehicle. Sadly I had to part out my last one and only got back about half of my money. That’s the way I did mine. I took the 305 tb out, did the conversion and then dropped my 350 in there. It wasn’t as bad as I thought. Thanks for the reply.

 

IMO, it will negatively impact the value of the car.
Ordinarily, 100% original cars bring the most $$$ at resale.
Heavily modified cars dont bring top $$ and can be difficult to sell if it becomes necessary.
Additionally, you will pour lots of $$ into the swap and never get it back out.

 

That’s what I was thinking. I guess if I don’t care about the resale I could do the swap.

 

Pro-touring cars are fetching good money at auctions and this is why:

Nobody really drives their numbers matching concourse restored or low mileage original "insert make model".
They are simply too valuable so they are parked in private collections. Maybe used for shows/parades or SCCA events. Then traded hands between the collectors like race horses, or like you and I would have exchanged baseball cards as kids.
I don't think I will ever play at that level but:

The reason the pro-touring niche is growing is because of this:
You can have a nice clean original looking vintage car with aftermarket parts or even a cloned " tribute car".
The point is you are not afraid to drive this car hard, seasonally, or daily because they are not OEM original or concourse restored high dollar cars. ( egs.; original hemi anything, 69 Z/28 camaro, 409 impala, Ferrari, etc)

A high mileage 3rd gen is a great platform for a Pro-touring conversion/restoration especially the 6 cylinder and 4 banger models however all of them, except for the coveted anniversary models (a turbo TA I would leave alone) are fair game.
I would not hesitate to do that if that is what your want or you can do a concourse restoration. the choice is yours.

In my small collection I have my third gen that is a pro-street Drag Car/toy. I also have a 1972 Cutlass Supreme which is mild pro-touring car.

The Cutlass is a low mileage survivor car that I bought in 2007 with less than 30K on the clock it. The car was unmolested and I enjoyed that way for almost 10 years before having the time to restore it.
It needed body work being a mid-west car but the 350 Olds V8 ran like new so I just cleaned it up: all new gaskets/seals, inspecting it as I went thru it (even the timing chain was still tight)

The only upgrades to the engine I made were: 2 barrel carb. to 4 barrel carb. and single to dual exhuast. (using a date coded OEM Q-Jet carb and factory correct dual exhaust ) these upgrades increased power from 160 HP/275 TQ to 200 HP/300 TQ
not impressive by today's standards but plenty my intended use (I already have a race car)
I converted the 4 wheel power drum brakes to 4 wheel power disc brakes
When I restored the frame & suspension I replaced all the bushings with polyurethane and installed the largest diameter UMI front sway bar available.
I also installed Eibach springs (1" lower ride height)
I mounted my Formula's old wheel and tires, for now, the fit and stance is great (+2 sizing with the 16" formula wheels but I will go to +3 with aftermarket SS wheels 17x8)
When restoring the body I decided NOT to make a 442 clone out of respect for real 442s.(I kept all my original Cutlass emblems)
I am very happy with the results considering I did most of the work in my home garage; it looks like a 1972 Cutlass but handles and stops better, it has plenty of get up and go with respectable fuel economy thanks to the Q-jet.
I built this to take road trips with the family. This car seats 6 and is blast to drive ! The wife & kids love it.

Will I fetch alot of money when I decide to sell it or will it become a family heirloom ?























I don' t know but if one of the kids wants to become the caretaker this is an easy decision.

I have been blessed to have the people and things in my life; hard work, persistence, patience, love, and luck all play a part too.

My advise is: Whatever you decide has to make you and yours happy & nobody else. Don't let anyone tell you otherwise.

 

159k miles, I don't think you need to worry about collector value.

Thirdgen collector values aren't great anyway. You've gotta have the right car to begin with. A non-Iroc, non-rpo code that shall not be named, and a drop top with lots of miles, pretty much isn't going to be in the major leagues any time soon. Short term, an LS swap is probably worth more than a tired 305. Long term, like long enough for collectors to be thinking about restoring a 160k mile car with its original 305, internal combustion engines will probably be banned by our treaty with the Martian colonists that live in our clouds. In other words, I'm saying that the concept of a 305 being worth a rebuild is far out wacky science fiction.

 

Haha. You make a good point, thanks.

 

Fact is this - the car is worth more 100% original - the fact they made so few 92 Z verts will always make it worth something no matter how many miles
are on it - think about how many 92 Z verts are left in 100% original condition - not a lot - in this particular case your better off leaving it original, just my .02 cents worth.

 

After 160k miles it's most likely not entirely original anymore, it's probably ready for it's first restoration. Unless it's the mythical 160k mile car that's been flawlessly maintained and kept by the previous owners, the collector car ship has already sailed. The 305s used in the convertibles are 5.SLOW. The LB9 was pretty much neutered with the V6/TBI exhaust, no G92, completely free of nuts. It's not a Hemi Cuda convertible, it's a 92 Z28 convertible. Collectors that like thirdgens aren't paying much attention to convertibles. Maybe it'll change, but for a 160k mile car that's also a convertible, we're talking about decades. That assumes the Yellowstone Caldera, Beer Flu, and snarling Chinese menace beating at the door doesn't wipe us out first. Grease that old 305 up really good, wrap it in plastic, and save it for the mythical next owner that might want to rebuild it. In the meantime, don't waste a penny on the 305, because right now it's a complete waste of time.

Sorry @BizJetTech but I have to disagree. If a person wants more power than the tired 305, and the car is high mileage, they're not hurting anything to change things that can be changed back.