Bob, I have to go back to my original statement. I didn't say it was better
or worse, just that the price would max there. A quick look at eBay shows
what has been paid.

http://search-completed.ebay.com/search/search.dll?sofocus=bs&sbrftog=1&fstype=1
&from=R10&catref=C6&satitle=Corvette+%281972%2C72%2C1970%2C70%2C1971%2C71%29&sac
at=6001%26catref%3DC6&bs=Search&sargn=-1%26saslc%3D2&sadis=200&fpos=34471&fis=2&
ftrt=1&ftrv=1&saprclo=&saprchi=&fsop=1%26fsoo%3D2

Granted eBay isn't 100% representative, as many feel buying sight unseen is
a bit more than they want to do, but it give a reasonable expectation,
unlike Barrett Jackson which is often heavy on the drunk millionaires in the
buying audience. (They really are, they begin open bars often 2-3 hours
before bidding.)

Your '72 with a built 327 probably runs circles around a stock '72, in
speed, acceleration, and mileage. However, the buying market is so jaded as
to think only original engine/matching numbers matter that they don't know
what is real value and what isn't.

There are a lot of cars that are essentially original, well-cared-for, low
owners, but they lost their original engine somewhere in the past. Another
was put in and all the original equipment went back on and the car looks 98%
original except for the numbers on the pad and maybe the casting number.

Yet the restored car with the matching numbers (maybe original, maybe not)
engine that 3 years ago may have been nothing more than a body shell and
frame will get the higher price because of the mistaken belief that it is
"better".

People today are sheep. They follow the crowd.  The crowd says only matching
numbers matter and are worth anything, so that is what people buy.

They have no comprehension that original engines originally meant the car
was worth more BECAUSE:

1. it had been left alone.
2. it survived the rigors of the hot rodders and hot rod years.
3. most likely it had not been driven hard and put up wet several thousand
times.
4. it was similar to finding that proverbial car that some little old school
teacher owned.

Once people began restoring cars, and rebuilding all the parts, the original
meaning of value didn't apply anymore.

But people are stupid, and they buy what others tell them to. And dealers
tell them matching numbers are important, so they buy.

This guy's '72 convertible would be a great car, if done, but right now, I'm
betting there is $10,000 - $12,000 in work on a car you won't be able to
sell for more than $18,000 for the next 3 years. That places its value in
the current state at roughly $6000.

I'm sure that isn't what he wants to hear.