Valuation Sources for my Dad's 1978 Cadillac Eldorado?

[alexander]

Hi all,

I am trying to sell my dad's 1978 Cadillac Eldorado (~24,000 miles) for him so that we can take care of some family bills, but I am having trouble finding what price it should be listed for. It is in near mint/like new condition (I have attached a few pictures for reference). I started my research by looking up Kelly Blue Book but of course, they do not go back to 1978, so I am not sure what direction to go in. Does anyone have any suggestions on where I can go to get a fair value market price for it? Any ballpark valuations?

Any help would be greatly appreciated as I have never sold a car before (I am only in my mid-20s) and I just want to help my parents.

Thanks all!!

A Wong

[Chris Conklin]

The NADA guide would be a good start, here's a link to the pricing page for the car - http://www.nadaguides.com/Classic-Cars/1978/Cadillac/Eldorado/2-Door-Coupe/Values. The guide shows prices at a low of $4,450, average of $7,625, and a high of $11,750. These all seem very low for the car you're showing.

You definitely came to the right site with your questions. Appears to be extremely nice condition, low miles, fantastic color. Your dad is the only owner? I would say it appears to definitely be at the high end of the price range. Post some more photos and any information about the car's history you have and you'll get plenty of price opinions here (and likely some offers). Also, where is the car located and where has it lived?

[alexander]

Hi Chris,

Thanks so much for the reply and the link for the NADA guide!! I am very happy to hear that you think these prices are low as well. When I tried going through all the paperwork my dad kept over the years, it looks like he paid ~$14,600 for it straight from the Hubacher dealership & of course he would like to get as much as he can for it. I know he wanted to wait awhile so that he could appeal to the more classic car crowd instead of the everyday rider, but as more bills keep piling up, we wanted to see what we could possibly fetch for it now since it just passed 35 years old. Do you have any advice in terms of trying to attract that classic car crowd (ie, is it old enough, if we should be asking more than NADA guide shows, and if so, how much more, where to list it)?

My dad has taken very good care of it over the years, taking it in for routine smog checks, keeping it under carport/in the garage. My dad is the only owner. I have posted a couple more pictures, hopefully that helps with a gauge of value.  Some of the other details I do know after going through the file: 8 CYL, I believe Color 22D (Sterling Blue), I believe Trim 242 (Antique Leather Blue), Auto Transmission. Some front and rear filler pieces were replaced a couple years ago, but according to my dad, it's because they were originally plastic pieces and after 30 years, plastic cracks, so thats why my dad replaced them in 2012. The car was purchased, is located and lived entirely in Sacramento, CA.

Thanks so much for your help Chris!!

Any opinions/help is appreciated!!

[tozerco]

Alex,

I guess we should support those that sponsor this club and its web site so how about the organisation whose name is at the top of this page?

[jsanford]

Alex,

Price guides are really only good for insurance purposes. If you are going to sell it locally try Craigslist and the Park-n-Sell lot at Sierra College in Rocklin. Ebay will open the car to a larger audience, but then there will be a lot of added issues like shipping, money transfers and possible fraud. As a easy option, I would suggest The California Auto Museum in Old Town Sac http://www.calautomuseum.org/car-sales/ They have a consignment service.

The market for these vehicles is pretty soft, you would probably be able to get $7k max.

Jeremy

[76eldo]

I had two Eldorado's that I sold in the past 3 years, both in excellent shape with low miles.
One with 34,000 only brought $6500 and one with 15,000 miles brought about $9000.

Medium blue with a medium blue interior isn't one of the flashy color combo's and the car being a base model, not the Biarritz and not having the Astroroof will hold of back price wise.

I'd say between $6000 and $8000 max for that car in this market.

Brian

[Eric DeVirgilis CLC# 8621]

I agree with Brian's assessment: The color combination is not the most exciting, not a Biarritz plus the market is saturated with G2 Eldorados.

Around an $8K car assuming excellent condition exhibiting very minimal wear with all equipment in working order.

Also check "Completed Listings" on eBay for further insight. Only actual SOLD listings (in green) should be considered; no-sale figures are of little to no use.

[alexander]

tozerco,

I'm sorry, i dont understand your comment

jsanford,

Yeah,  I think we may look into Craigslist as well. I will look into the Park-n-Sell lot @ Sierra College. I have never sold anything on Ebay but glad to know that they might be more hassel with shipping/fraud, etc. I actually looked into the California Auto Museum, but couldn't get ahold of the guy yesterday. Their consignment service actually combines Museum presentation along with Ebay listing I think, based on what I read off their website. Thanks for the help and the $7K assessment, definitely helping me more to get a ballpark figure.

76eldo,

Do you mind me asking what area/location you sold your two Eldorados? Sounds like your assessment of ~$7K is consistent with jsanford's.

ericdev,

Looks like you agree around $8K as well. It is in excellent condition and all is in working order as well. I will look at the Ebay "Completed Listings" area too, didn't know they had that. Basically sounds like a get list to get comparables for cars. Thanks for the help!!


Not sure if you all read the entire thread, but do you guys think there is justification (from what you guys see in the pictures, read in the thread, and just your opinion of Cadillacs) to try and sell to the collector car crowd? If so, are there specific cities/venues to seek out?

Thanks everyone!!

[Eric DeVirgilis CLC# 8621]

You are most welcome, Alexander.

As to selling venues, for convenience eBay is about as good as it gets: Nowhere else will your car get the exposure that eBay provides and seller's fees are [still] quite fair for the level of exposure. Make certain you take good pictures and don't skimp on the 24 photo allotment. All areas should be shown including the trunk compartment, engine room and exterior - all views. Consider background as well - presentation is everything!

Of course there are local classifieds etc which sometimes work but it's easy to rack up advertising charges doing it that way - besides most serious classic car buyers have access to a computer anyway so you're probably just as well offering on line.

There are also car corrals (for sale cars) at larger car shows/swap meets etc, if such events take place in your area.

Happy selling! 

[76eldo]

One guy flew in from Wisconsin and drove it home from the Phila airport and the other one was shipped to someone about 1000 miles away.

I sell parts and sometimes cars on ebay with no real trouble.
Don't accept any type of check. Wire transfer is the safest way.
The car does not leave your garage until you have the funds in your account or cash in hand.

You have to know how to use ebay. If you have any specific questions  you can email me at rachlin@comcast.net.

It's sad but the big Eldo's are lagging behind many other cars in value unless you have a 76 convert with under 30,000 miles or a Bicentennial.

Brian

[alexander]

ericdev,
i think we will definitely look into ebay and craiglist. and thanks for the helpful hints in terms of areas to photograph while listing it! and i have tried looking up car swaps/meets as well, starting to find more links regarding weekly/monthly auto meets. thanks eric!!

76eldo,
oh so then your customers were mostly midwest/east coast. i have no idea, but i cant imagine geographic region would have that substantial an impact on market price? hints noted regarding not accepting check and when to ship car, thanks for those. i will keep your contact on file in case i have any questions regarding ebay. darn, i bet your last comment wasn't really what my dad wants to hear but im glad to know whats going on with the cadillac market and how its gonna affect us. thanks for the help brian!

davidsmith,
ah gotcha, yeah the NADA guide average price was $7600 which is somewhat near the 6-8 estimate (but the nada guide went from a low of 4400 to a high or 11750. yeah, we already had to deal with that whole plastic/brittle filler pieces. thanks for the input david!!

[waterzap]

Maybe drive it around with a For Sale sign a bit when the weather is nice. I had a guy follow me and then had me pull over because he wanted to see the Eldorado. He took pics of it after I stopped. You might just get a guy that doesnt know he likes that car. Isnt really looking in the ads for that car, that just sees it driving around and have the AHA moment. Also shows people the car is actually drivable (if it is), and not a trailer queen.
Hemming is very good, but the print is better than the online. Sold my Seville through Hemmings (the guy saw the online ad). Months later I was still getting calls from people that saw the print ad.

[alexander]

davidsmith,
thanks for the hint on hemmings. ill look into that site as well. and thanks for all the tips on the photos (under the hood, around edge of vinyl, contrast with lawn and background). the next time i take photos, i will definitely take all those into consideration. Much appreciated dave!

waterzap,
good idea on the driving it around. i know my dad didnt want to leave it on a lot with a for sale sign, in fears people can just go around and scratch it when you arent there, but driving it around might catch some people's eyes. thanks!

[waterzap]

Where are you located? There is a HUGE car show here in Charlotte in September. Lots of cars and parts for sale, so you can always bring or drive the car here if you arent too far.

http://www.charlotte-autofair.com/

My best bet is Hemmings and the auto fair if you can make it.

These classic cars are far more difficult to sell than modern cars because firstly the market for older cars is much smaller than new cars. Then secondly you have the market for old Cadillacs. Then people that like late 70's Cadillacs vs 50's or 60's. So even though the car might be worth $10,000, it might take a long time to get that figure. If you drop the price to $2,000, you can get the car sold this week. If you keep the price for what the car is worth, it might take a long time and a lot of marketing to sell it.

So even though it is worth a certain amount, these cars just arent that popular right now. Who knows. Maybe a movie comes out and suddenly everyone wants a 78 Eldorado (American hustle didnt seem to do much to the value of these cars). Who knows. I also have a 78, and the car has not given me a days problems, even though its not nearly as nice as yours. For me its a hobby, and I work on it now and again. Drive around on weekends. I do know the car isnt worth much, and maybe will never be. But it also wont depreciate anymore. You can sell a stock 350 Chevelle with rust all over all day long for double what that Eldorado is worth. When new the Chevelle was maybe a third the price of the Cadillac, and doesnt drive nearly as nice.
A 78 VW Bug is most likely FAR easier to sell than the Eldorado. These cars are about the bottom of the heap in terms of value at the moment. Makes no sense, but that is the way it is.
One caveat. If you have not replaced the timing gear. Driving it around will probably cause MAJOR issues. Timing gear HAS to be replaced if its still the original one in the car. Basically, the timing gear had plastic around it (nylon actually). Over time the plastic breaks down and ends up in your oil pickup. Oil pickup gets clogged, and oil does not get to the engine. And poof, you have a $1000 car with a blown engine and a pristine body.

[waterzap]

Except for a few early 70s muscle cars, I can't think of any 70s American cars that are really worth a lot and easy to sell at the moment. That includes Corvettes. Sadly, European cars weren't any better, notwithstanding their much higher values these days. In most cases they were far worse. At least the Cadillac would get you from point A to B, and do it day in and day out. A mini or MG. Not so much.

[76eldo]

Corvettes from the 70's are very popular.
If that was a Trans Am instead of an Eldo with same miles and condition it would be in the mid 40's.

You have to advertise the car, use ebay and Craigslist because people search for cars on those sites and you will find a buyer.

I sold a 76 Fleetwood to a person in the UK from a local Craig's list ad.
There is software that allows for a worldwide search on a particular item.

I also find that people want turnkey cars and will make low offers for cars that need cosmetic repairs like bad body fillers or interior issues.

Good luck

Brian

[Eric DeVirgilis CLC# 8621]

Except for a few early 70s muscle cars, I can't think of any 70s American cars that are really worth a lot and easy to sell at the moment. That includes Corvettes.

That depends on what one's definition of "worth a lot" is.

Otherwise, most any of the above actually do sell quite well - but condition is much more critical with cars of the '70s era because the cost of restoration is usually well in excess of the finished product.

I also feel their time will come at some point. When and to what degree is anybody's guess. 

[waterzap]

Worth a lot for me is the a 60's split windows Corvette for 100k, vs a 78 anniversay edition with 6,000 miles thats only $21,000

http://classiccars.com/listings/view/558714/1978-chevrolet-corvette-for-sale-in-lansing-michigan-48910

Wouldnt mind parking either of them in my garage though.

I did forget about the Camaros and Firebirds. They are good looking cars, especially the Firebirds. They are getting up there in prices these days
Maybe my definition would be, if the classic car, in like new condition is worth more than the current new model, its at a premium. While if worth less, then its selling at a discount.

[bcroe]

Hi all,

I am trying to sell my dad's 1978 Cadillac Eldorado (~24,000 miles) for him so that we can take care of some family bills, but I am having trouble finding what price it should be listed for. It is in near mint/like new condition (I have attached a few pictures for reference). I started my research by looking up Kelly Blue Book but of course, they do not go back to 1978, so I am not sure what direction to go in. Does anyone have any suggestions on where I can go to get a fair value market price for it? Any ballpark valuations?

Any help would be greatly appreciated as I have never sold a car before (I am only in my mid-20s) and I just want to help my parents.        A Wong       

The only engine was a 425, but you should note if it has the fuel injection option.  Bad or good,
knowledgeable buyers will want to know.  And an under the hood pic.  Bruce Roe

[alexander]

waterzap,
I am actually located in northern california. i have tried searching for auto fairs in the region but have been coming up a little short. i hear ya regarding the market for these cars at the moment. and as much as we could use the money at the moment, im not sure if we are willing to drop it way below. i understand what you are saying that it might take a long time and lot of marketing, thats kind of what i was afraid of. darn you market for being so low on these cars!! and thanks for the tip on the timing gear! i will definitely check with my dad to see if thats been replaced.

76eldo,
yeah i think the best bet is to advertise it on CL and ebay like others have suggested too to see what others are willing to offer. is that software that you have to download? i dont think i have seen that as a basic feature on CL before. thanks brian!

bcroe,
thanks for the tip bruce! i'll be sure to note if it has the fuel injection or not. and someone also recommended an under the hood picture, so thats on my list!