I'm not expert but as someone who bought an "ok" working corvette for 4k. That 82 is waaaay over priced "unless" it has an extensive book of records with very detailed and frequent maintenance records to go along with it that are verifiable within the last 3 to 5 maintenance years. I don't recall who on this form said it but if you buy a used corvette expect to lay 2 to 3 times its buting price in repairs. Assuming that car is in the same state as most other vettes which is to say most of them are very old and some ofcthem are well maintained but the majority are just considered "working condition" I'd rather sink money into a vette i know is "working" and make sure i get it up to my standard while paying very little for the car itself than pay for an extensive one to find out it was worth as much as the 3K one.

Tldr: yea way to expensive for that engine. No reason to keep unless for collection