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Value guess-timation

1K views 25 replies 9 participants last post by  rose62 
#1 ·
I'm thinking of going to look at a '66 A-code coupe with factory a/c and a 4-speed. In a phone conversation, he said that he was pretty sure that the car had never been apart. Looks to have some rust issues and the interior is trash. The guy is asking $4000.
 
#2 ·
I subscribe to Woodchuck's Second Law of Vintage Auto Valuation which is as follows:

A = B - (X + Y + Z) where....

A = What the car you are considering is truly worth...
B = What the average price of really, really nice examples of the type of car you're considering have been selling for...

X = What you can buy the car for, including the acquisition costs (taxes, fees and transportation home).
Y = What it will take to put the car into the same condition as those really, really nice examples you saw. Note: Don't forget to value YOUR time and those expenses that are necessary but not usually considered... gas, electricity, heat, tools, supplies (sanding discs, welding wire, etc).
Z = What amount of equity you'd like to have in the finished product. This can be zero or it can be some amount that makes you comfortable. It can also be a negative. If you think it's worth, say, $5,000, to you to have the car you really want, then that's YOUR decision and nobody else's business.

So, a hypothetical example is that if really, really nice '66 V8 hardtops with a 4-speed (3-speed manual is actually a deduct.) are selling, on average in your area, for $16,000 and it's going to take $15,000 to get this car in that shape and he wants $4,000 then you'll be $3,000 in the hole when done. Whether or not that works for you depends on your motivation. If you're looking at the car as a "flip" then you probably want to pass. If you're looking at it 'cause it's what you really want, then it may well be worth the money if you are pretty sure that you have the patience and where-with-all to see it through to the end.
 
#5 · (Edited)
Looks like my '66 coupe is sold to the German buyer. Sold it because I've been wanting a stick car and the wife won't do the summer cruise thing w/o a/c. If I get it, I would love to make it look just like the one that I sold (Nightmist with light blue interior, Crown Victoria 16" alloy wheels) with a few minor differences. And this car never had the dash cut, which is nice.

The car belonged to the grandfather of the fellow's wife and has been in the family for years. He said that they just got the car after the death of the grandfather and don't know too much about it. I asked him to test the cowl for leaks and when he did, he said no water came through. But those doors don't look salvageable. And the quarters look suspect as well. I'm thinking, best case, replace the doors and patch the quarters and it might be acceptable. Not going to look in person, though, until my deal closes.

And just in case, who makes the best patch panels?
 
#7 ·
Perhaps, but if I'm going to seriously consider buying this car, I need to know which panels to buy so I can get an idea, going in, of the costs. Don't want to buy then find out the patches are sky-high. Or worse, no good ones available.
 
#8 ·
Not perhaps, for sure. For all you know that unibody is as strong as a soggy graham cracker, you haven't seen it yet, and you're already worried about the price of panels. Never mind that the last time you came here asking for advice on a mustang I believe you ended up with a new Honda instead. This car may not still be for sale by the time you're ready to pull the trigger anyway.
Just go see it, report back. :wink:
 
G
#13 ·
To me it's a $1800-$2500 car.
Rose. . . .It's more than $1800-$2500 because of the options. This isn't a 6 banger, or even a boring C code automatic. This is an A code 4 speed car with deluxe steering wheel and AC. For that reason it has a much higher end result as far as value and interest. Anyone who thinks differently doesn't understand the market. However, I do think $4K is high, but hey, it's an asking point. I think $2500 -$3000 is a good place for this car, because of what it is. That 4 speed stuff is worth a grand just by itself. If you really want it and have to go slightly over $3K, you will still be good in the end.
 
#11 ·
"Never mind that the last time you came here asking for advice on a mustang I believe you ended up with a new Honda instead."

That's an issue here? My wife bought what made sense for her. Spit-balling is prohibited?

And yes, JCB, you're probably correct. And in that case I'll walk. That's why I asked him to pour water in the cowl. If the floors and good and all the quarters need is a lower patch, I'll probably bite. Lots of usable doors for sale.
 
G
#15 ·
Rose, who ever said its a deluxe interior? Not me, I said deluxe steering wheel. But after closer inspection, it's just dirty :) The wheel could be had separately, so I thought this one had it. My eyes ain't so good anymore :) However, the other options apply and raise the value greatly.
 
#17 ·
And I'll tell you from experience Rose, that finding original doors for that car that are in good shape are not that easy to find, and when they are in good shape, people want a lot of money for them. If they just need skinned, that is pretty inexpensive, if the front lower corners are all rusted out, you are looking at after market doors unless you get lucky and find some good ones cheap somewhere. I looked for a year, and ended up having to go repop
 
#18 ·
Sitting in the dirt for what looks like many years... my bet is that the floor pans and possibly some of the frame rails are shot. That's a lot of work, man hours and $$$.
3,000 tops just for the parts that might be good.
Take a look at it and take an ice pick and hammer with you.
 
#22 ·
Yeah, I went to see it. Both quarters are gone, both doors, battery area gone, trunk lid ditto, upper control arm on passenger side has rubbed through the shock tower. Couldn't open the trunk and he said that there are no keys. Someone who does this on kind of a production basis might do well with it but I'm just not equipped. And as bad as it is, it's likely to only get worse when the digging starts. The original engine and trans are there with the 4100 carb. I told him that he could call me if it doesn't sell and I'd make him an offer. But it would just be as a V8 donor for another car.
 
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