Purchasing a partially finished build comes with its own unique set of concerns. Are bolts tightened to spec? Is there thread locker where there should be? Has the car been wired correctly? However, an incomplete build also comes with a lower price tag and often affords opportunity to those brave enough to take it on.

The Factory Five GTM needs no introduction. A Corvette drivetrain and running gear combined with a mid-engine, rear-drive layout make it the mid-engine Corvette C5 that Chevrolet never produced. It’s one of those few cars that toes the line between component car and homebuilt racer. GTM values vary to a large degree. All-out builds can fetch over $100,000, while unfinished and less-desirable cars are sometimes found in the $40,000 range. Most often, GTMs are seen for sale between $70,000 and $90,000

Offered for sale on eBay with no reserve is a Factory Five GTM in Arkansas that is described as 75-percent complete. The car has a starting bid of $38,900 and a Buy-It-Now price of $42,300. There is a GTM that runs and drives (but is a little hard on the eyes) on eBay currently for this same money, but allow me to make a case for this red and black beauty.

Under the rear hatch sits a brand-new LS7 engine, accounting for nearly half of the car’s purchase price at $15,000. Also, tack on another $3,000 to $6,000 for the Porsche 996 transmission. To slow it all down, the GTM is also fitted with an upgraded Corvette Z06 brake package. The car wears a handsome black and red paint scheme that fits the GTM quite well, and the interior is completed with tasteful tan leather and carbon fiber.

The seller does not list exactly what the GTM needs for completion. A visual inspection reveals the windshield is not fitted in the car, there are no headlights and the front bodywork needs some fitting yet. However, it does appear to have most of the mechanicals in order and it looks like the engine did run ... or could run. 

This GTM would be a subtle stunner with blistering performance. Buyers should count on writing off some time under the “duplication of efforts” category, but also stand to gain supercar performance for Honda Odyssey money.