How do you know if car is worth junker price or classic car price?

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  #1  
Old 06-04-10, 07:27 AM
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How do you know if car is worth junker price or classic car price?

I get my coffee and roll at a place across the street from here this guy is selling what looks to be about a 1963 Chev. Impala. The body looks fairly good, but some trim is dangling down, missing hubcap, and I suspect may have many things wrong with it. Maybe torn upholstery, engine problems, brakes, etc. etc.

We've probably all seen what some Barrett Jackson classic cars fetch. And you also may have seen what your local papers sell some nice classic for. Maybe $7500 - 15,000? let's say?

Well, what is a car, like the one I described worth, as is? Does the owner say, "Ya knowwwww......if you do this, do that, do that.....to the car, it be worth $7500 easy. So I tell you what......I let it go for uhhhh...... $4500. All it will take is $2000 worth of work and you'll get your money." Potential buyer's response: "Oh really? I kind of was thinking more along the lines of $450 (cough)".

I
 
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Old 06-04-10, 09:05 AM
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Probably need a pro to tell from case to case.
 
  #3  
Old 06-04-10, 09:54 AM
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Originally Posted by ecman51` View Post
Well, what is a car, like the one I described worth, as is? Does the owner say, "Ya knowwwww......if you do this, do that, do that.....to the car, it be worth $7500 easy. So I tell you what......I let it go for uhhhh...... $4500. All it will take is $2000 worth of work and you'll get your money." I
How about potential buyer's response, "Well why don't you put the $2000 into it?".
 
  #4  
Old 06-04-10, 10:27 AM
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It all depends on what the condition is, what parts are there, how original and how collectible it is. A good desirable/collectible car will fetch a high price, but will still require a lot of work and money to get the big bucks from collectors with deep pockets.

Generally, the real high dollar cars on Barrett Jackson go to collectors/museums and are professionally restored. There are some unique exceptions like the 1953-55 Oldsmobile Corvette that never required any cleaning and went for about $7,000,000 plus a few years ago.

The customs and rods are losers for the builders because the labor and material costs and some are sold for less the the cost of building, not including the cost of the original "hulk".

The Chevrolet you just have seen an is probably and interesting street car that interested you. There are lots of old Chevs driving around South America every day, so it probably noy very unique.

Dick
 
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Old 06-04-10, 10:35 AM
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Actually...It was an 1954 Olds F-88 concept car....but thats just a nit I'm picking...lol.

"NEW YORK (CNN/Money) Feb 1, 2005 - A golden 1954 Oldsmobile concept car sold at auction this weekend for $3.24 million.

The Oldsmobile F-88 is similar to the Chevrolet Corvette concept car -- they were termed "dream cars" at the time -- that debuted a year earlier and quickly entered production. Both were two-seat roadsters with fiberglass bodies. The F-88 is powered by a 324 cubic-inch Oldsmobile Rocket V-8 engine producing a maximum 250 horsepower.

The car was auctioned Saturday at the 34th annual Barrett-Jackson classic car auction in Scottsdale, Ariz. The $3.24 million final selling price was the highest ever paid for a car at that auction."
 
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Old 06-04-10, 11:13 AM
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I didn't realize it was that long ago, they do have too many reruns.

As I recall, it was a gold (?) metallic and sure looked like an early Corvette style-wise and not too much like my C4 Corvette that was the last yearof that series.

I think it was signed over to Barrett Jackson by GM with all documents, design drawings and construction photos. - No real miles on it. I think the buyer was a museum from somewhere in the west (Colorado sticks in my mind). - Definitely not a "street" car.

Dick
 
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Old 06-04-10, 11:19 AM
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Duplicate post to the previous
 
  #8  
Old 06-04-10, 06:25 PM
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Originally Posted by NEsportsfan View Post
Probably need a pro to tell from case to case.
If a guy knew something about this business, there could maybe be some money to be made. In the same way some people buy fixer upper houses and flip them.

You know.....the little old lady whose dead husband owned some old classic stored out in the garage..... and the lady only remembers he paid about $1500 new for it...and the fact that it is now used, and ragged around the edges, it might be worth - she thinks - a few hundred..... but instead, with a little TLC, could bne worth many thousands?

................................................................................

The 14th word in my first post as supposed to say "where", not "here" (stupid non-responsive new keyboard!!!!).
 
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Old 06-04-10, 06:34 PM
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Originally Posted by Concretemasonry View Post
It all depends on what the condition is, what parts are there, how original and how collectible it is. A good desirable/collectible car will fetch a high price, but will still require a lot of work and money to get the big bucks from collectors with deep pockets.
I suppose. Makes sense.

Generally, the real high dollar cars on Barrett Jackson go to collectors/museums and are professionally restored. There are some unique exceptions like the 1953-55 Oldsmobile Corvette that never required any cleaning and went for about $7,000,000 plus a few years ago.
You sure? That much? Was the car originally owned by Elvis or ?

The customs and rods are losers for the builders because the labor and material costs and some are sold for less the the cost of building, not including the cost of the original "hulk".
So then a person has to look for that diamond in the rough.

The Chevrolet you just have seen an is probably and interesting street car that interested you. There are lots of old Chevs driving around South America every day, so it probably noy very unique.
It didn't really interest me. I am a late 60's/ early 70's Dodge Challenger RT sort of guy. I was more curious, as the topic for this thread came into my mind when I saw it the way it looked.

South America, eh? So that is where they unload all the previous years unsold cars for a dime on the dollar, I bet.
 
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Old 06-04-10, 06:37 PM
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Originally Posted by Gunguy45 View Post
Actually...It was an 1954 Olds F-88 concept car....but thats just a nit I'm picking...lol.

"NEW YORK (CNN/Money) Feb 1, 2005 - A golden 1954 Oldsmobile concept car sold at auction this weekend for $3.24 million.

The Oldsmobile F-88 is similar to the Chevrolet Corvette concept car -- they were termed "dream cars" at the time -- that debuted a year earlier and quickly entered production. Both were two-seat roadsters with fiberglass bodies. The F-88 is powered by a 324 cubic-inch Oldsmobile Rocket V-8 engine producing a maximum 250 horsepower.

The car was auctioned Saturday at the 34th annual Barrett-Jackson classic car auction in Scottsdale, Ariz. The $3.24 million final selling price was the highest ever paid for a car at that auction."
How about a picture of that car.
 
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Old 06-04-10, 06:42 PM
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I just thought of something: I heard on the radio that the Batmobile from the tv series is expected to fetch (get ready)$60,000 at auction. WHAT???!!! That's all? For some rich person to be able to say they own the Batmobile? They kidding? And I heard it, and a friend heard it at another time, and he said that is indeed what they said. I said, you sure it is not going to be the starting bid? No, I don't think so. I think that is what they said it is expected to fetch. Oh......he looked it up on the net, and confimed that is what they said. Really! I wonder if Jay Leno could use one of these?
 
  #12  
Old 06-05-10, 03:40 AM
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I've posted before, but I sold a restored (2 1/2 year project) Triumph TR6 that was originally priced around $4k in 1973 for twice its worth, including my time labor and parts, just to get rid of a guy once. He kept coming back. I told him the car wasn't for sale..............remember............"everything is for sale, boy". Not a classic car price, but I was pleased.
 
  #13  
Old 06-05-10, 04:53 AM
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The thing is, restoring old/classic cars is best approached as a hobby. It's not the big money maker [unless it's the right car restored right] like the shows on tv make you think. If you figure all your time along with costs, the odds are you won't make money...... but it can be a great hobby if that's where you interests lie. All you need is time, desire, tools, a place to work and uhhh... ummm.... ahh.. the money to spend on it
 
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Old 06-05-10, 06:27 AM
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Old 06-05-10, 09:14 AM
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Over the years, I have sold quite a few half to three quarters dead cars for the $150 range. Amazing how many of the buyers said they were taking them to South America.
 
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