I found an '82 Camaro Z28, Indy 500 Pace Car with the CFI 305 at a local shop.....it seems the owner went home one night, didn't put it in park, and let it roll into a lake. The guy at the shop pulled it out and drained the water out of everything and refreshed it. The car still runs and drives fine but the owner never came after it so now the shop is trying to sell it. The interior is a little torn up from the soaking and age, and theres a dent in the left quarter but it's not bad and I'm sure it can be repaired without replacing the panel. Any guesses as to what it's worth?I'm considering buying it to restore and resell. Thanks.....

 

I dont know much about this subject....but One thing I do know is that If I were going to buy a car and I checked its history and found that it had gone into a lake at one point I dont think I would be very interested anymore....Probably would only be willing to pay the amount your going to pay for it before resoration. So in my opinion, theres probably not going to be a very good payoff in the end.
Just my 2 cents,
Aaron