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Need Opinions on Value 1938 Cadillac V-16 Imperial 5 Passenger

Started by h00kem, July 24, 2012, 07:03:19 AM

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h00kem

I have found a 1938 V-16 Imperial Limo 5 Passenger that has been stored for 30+ years in a shed.  It shows 57k on the odometer.  Apart from the dirt and dust the car looks to be in original condition.  Engine has not been started for 30 years, exterior paint is original, no visible rust, chrome pitted, interior good.  I have no idea of the history of the car other than the present owner has owned it for more than 30 years.  The owner wants $35k for the car.  I am a reasonably experienced restorer of European, not American prewar cars, so I really don't know what I might be getting into.  I would plan to do a cosmetic restoration and simply enjoy the car. 

Does anyone have an opinion of what a reasonable price is for such a car?  I do not want to overpay and end up investing way more than the car will ever be worth so am checking around before making an offer.

I realize this is a shot in the dark but you gentlemen have more experience with these kinds of cars so I value your opinions.  Thank you for your advice. 

Kevin H.

Terry Wenger

If the engine has not been run for 30 years, you are probably looking at an overhaul. This could require 16 pistons, 16 Rod bearings plus conversion to GM 350 rod bearings, The Mains need to be rebabbited and 32 valves need to be ground. In addition there are two carburetors, two fuel pumps, two water pumps and two distributors to attend to.

Since you restore cars you can probably estimate what that will cost. My '38 V16 engine cost about $15.000.00 doing all the assembly work myself.

To that, add money for suspension , tires, paint and body work.

That car in top shape is worth a maximum of about $80,000. so you can go from there to evaluate.

I have a rare Town Sedan, completely restored that I am asking $85,000. as an example.

Terry Wenger
Terry Wenger CLC #1800
tewv16@sbcglobal.net
1932 355B TSD
1939 7557
1940 60S
1941 60S
1947 6267 Conv.
1949 6207X Coupe
1963 60S

h00kem

Thanks very much for the advice Terry.  I very much appreciate it. 

KD

Kevin,
Good luck. I acquired a 1940 V-16 7 passenger Imperial sedan last year and am restoring it now. It's a lot of work but these cars deserve to be preserved. Like any other hobby, it's the enjoyment you get out of it . If we all stopped doing this, we would have to go to museums to just get a look at the beautiful examples of these magnificent automobiles, instead of being privileged to own and drive one
Ken D CLC#26801
Ken Dennison

1935 Auburn S/C Cabroilet
1940 Cadillac V16 7 passenger Imperial Sedan (9033)
1929 Ford Closed Cab Pick Up
1960 Austin Healey Sprite

Chris Cummings

A 1940 V-16 formal sedan owned originally by Ruth Metcalf Roebling (widow of the grandson of the designer of the Brooklyn Bridge) was sold for $55,000 at the St. John's Auction this past weekend.  It was being sold out of the collection of William Ruger, Jr. (heir to the firearms company)  You can go to RM Auctions's website to see photos of this very impressive car.

Chris Cummings
CLC 20072