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'56 Cad Convertible value

Started by Pat, September 27, 2009, 02:32:35 PM

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Pat

Here is one of those "what's it worth" questions. I am looking at a '56 vert that has been sitting out in the desert for 40 years. The top and interior are completely shot.That is the biggest negative with the car. The body does not appear to have one molecule of rust and has a very shallow scrape about 12" long on one fender.The bumper ends (and inserts) are perfect. Owner wants 10 G
Worth it? Opinions welcomed.
Cheers,Pat

Pat

Lou,
The convertible top mechanism is intact with only the slightest pitting on the front bow. Everything is there engine, transmission wise. The numbers jive .The car was driven into this spot many years ago. The car is mountain laurel...although...it may not stay that way.
Cheers,Pat

Otto Skorzeny

Personally I think 8k is being generous. I wouldn't pay more than 5K and that's even more than I could stomach.

Think about this; How much are you going to have to spend to  get it even marginally usable?  A $hitload more than you could buy a decent one for.

I'd scrape together $20 -25,000 and find a really decent driver convertible. They're out there.

Why start at the bottom with a basket case for big money? If you could get it for 2 or 3k then all right.
fward

Ask not what your country can do for you, but what you can do for YOURSELF

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Glen

Quote from: Otto Skorzeny on September 27, 2009, 10:57:34 PM
Why start at the bottom with a basket case for big money?

Because restoring a car like this is more fun and satisfying than just plunking down a wad of cash for someone else’s work? 
Glen Houlton CLC #727 
CLCMRC benefactor #104

Pat

Forrest,
Show me a decent driver for 25 G. The only cars I have seen are complete junk for under 5 G. The last builder I saw on ebay went for 12500. (solid CA car) Properly restored ones start at 65,000. I really haven't seen anything in the 20 to 30 range. Perhaps I am looking in the wrong areas?
Cheers,Pat

Doug Houston

Sounds like the location is in a western state,where almost nothing rusts, otherwise there wouldn't be enough left to identify. A big chunk of a restoration is body work. Another big hunk is interior, and finally, a top will hit you for another 2K, easily. All that, before mechanical work.

From your description, there is a lot there for a good start. Just for the sport of it, make the guy a lower offer for cash. Does he have a waiting list of offers, or does it look like he wants to move it?  You may have to go for the 10 grand, but don't do it without trying.

It was 21 years ago, but my '56 convertible was for sale for 10.5K. The guy wasn't having much luck selling it, and it was in a run-down neighborhood. I sort of wanted it, but didn't want to shell out that much for it. The guy had my phone number, and called me a couple of times. I acknowledged that it was worth his price, but I didn't want to spring for that much dough. I said that, if it were 5K, I'd buy it, being sure that he would never budge. After a couple more phone calls, he accepted 5.5K for it, and I drove it home. It's the second one I've had, and they're a fantasy to drive around in.

Numbers Match? On an abandoned car??? Fer cryin' out loud, how important is that? I got a big laugh out of that one. 
38-6019S
38-9039
39-9057B
41-6227D
41-6019SF
41-6229D
41-6267D
56-6267
70-DeV Conv
41-Chev 41-1167
41 Olds 41-3929

Chris Conklin

Looks to have pretty good bones. I too would definitely try for a bit less cash, unless it has some rarity to it I couldn't see going much over the $8K mark that South Paw mentioned. Any A/C (could be if it had lived in the desert), optional engine? Personally, I would have trouble going over $6500, but you probably have some sense of what the seller is willing to go for. If you're comfortable at $10K, have at it. I don't think there's any of us out here that haven't been way upside down on our cars' worth at any given time. I would, however, reconsider changing the color from Mountain Laurel. An iconic color on the car.
Chris Conklin

Jonathan Riley

You might not care whether the numbers match when the car is out laying their out in the field; however, put $100K or more into it, and you will care if you go to sell it.  And, if you do end up selling it, "numbers-matching" will be in the ad.





Chris Conklin

Quote from: Jonathan Riley on September 29, 2009, 12:56:43 PM
You might not care whether the numbers match when the car is out laying their out in the field; however, put $100K or more into it, and you will care if you go to sell it.  And, if you do end up selling it, "numbers-matching" will be in the ad.

In my mind, "numbers matching" is something for the muscle car folks (then again, they'll admit to selling "Clones"!?!?) and not much of an issue (or selling point) for Cadillacs. Probably the best explanation I've heard was posted on this forum a while back; "numbers matching is an attempt to distinguish indistinguishable cars".
Chris Conklin

Jonathan G. Riley

Well numbers matching means different things to different people.  For corvettes, because there are no records to prove what actual engine came with the car, "numbers matching"  means: is it the correct engine and is the date code reasonably correct.

With the historical (cadillac) archives that were saved, you can in fact tell whether the engine that is in the car now actually came with the car from the factory.   It is alot harder to fake, if you do the research/homework. 

I would say that if you took two identical-condition 1953 cadillac eldorados, and you could prove that one was "matching numbers," ie the frame, engine, and body came from the factory together in 1952-53, it would be worth more, to most collectors, than if it had a 1953 series 75 engine in it.  Or, in other words, the car that was not "match numbers" would be worth less.

This is certainly true with Cadillacs from the 1930s.  If you take an open body from a V-8, and put it on a V-16 Cadillac, it will undoubtedly be worth less than a true "matching numbers" car.

Granted, if you are talking 1989 Fleetwoods, I don't think many people care.






Chris Conklin

Quote from: Jonathan G. Riley on September 29, 2009, 06:06:37 PM
This is certainly true with Cadillacs from the 1930s.  If you take an open body from a V-8, and put it on a V-16 Cadillac, it will undoubtedly be worth less than a true "matching numbers" car.

I think you found the hole in my argument... I believe that the survival rate of open body V-16s is somewhere around 120% just for this reason.
Chris Conklin