What's it Worth I need help with a reasonable valuation

[68BabyBlue]

I don't restore cars, but I did buy a project '69 GTX back in 2010. Similar status to the Charger in this thread. I was willing to go upside down on it because of the colors, options, and documentation. Three years later, the car was still in body shop jail (previous owner had left it there, after running out of money.) A complete, driveable GTX from out of my past fell in my lap. I offered the project car to a buddy of mine who had recently restored a 1967 GTX. He passed, but put me in touch with another Mopar guy who was looking for just what I had. He was capable of doing all the work, and had recently completed a nice AAR 'Cuda.

The car changed hands at $11,000. Two years later, the new owner passed unexpectedly. My buddy tried to buy it from the widow for $13,000. She didn't think that was enough. A few years later, my friend passed. The car is still in limbo. This car done would be worth about $60,000 based on auction results in the last two years. I don't know what her idea of a fair price is, but the market has deemed it too high.

 

[HawkRod]

I'm late to the party but I'll chime in:

The folks responding here are responding like any buyer would: Buyer Beware.

A potential buyer must assume that parts are missing, because it is near impossible to tell if all parts are present for a car that is totally blown apart. I have done several restorations and I can tell you that small parts that are missing get extremely expensive to find, buy and restore. At $20-$500 each, they add up fast. In addition, having the pictures and documentation/ parts labeling makes putting the car together more reasonable. A buyer, without extensive documentation, will have a massive puzzle that they need to figure out how to reassemble. This adds up to countless hours. Also, I can't tell you how many times I have worked to reassemble something that just didn't fit quite right. These cars come apart much easier than they go back together, especially if various parts came from donor cars. So there are 100s of hours left on this car. Anyone who has truly done a full restoration of a car will know that.

The engine was said to be running well before the car was taken apart, but without hearing it run, a buyer will likely assume it will need work - same for the transmission, rear, etc. I could go on, but the bottom line is that any potential buyer needs to assume the worst unless there is documented evidence to convince them otherwise.

If the car owner has receipts for almost everything and a potential buyer can go through the parts in an organized and methodical way this will certainly increase the value of a car. My buddy has $2,700 in re-chroming the inside window trim of his 67 GTX. So receipts plus the ability for a buyer to see these parts will help a lot. Having said that, $20,000 worth of perfect parts are worth much more for a 71 Hemi 'Cuda than they are for a 1st gen Charger. Unfortunately, it's just the way it is.

To help the owner sell this car the owner will need detailed documentation of all the parts plus receipts. It must be EASY for a potential buyer to get a "warm and fuzzy" feeling that everything has been done, done well, and that (most) everything is there. The number of people who want to buy a 2nd gen Charger project is high. Unfortunately the number of people who want to buy a 1st gen Charger project is low, so it will take time to find the right buyer. Even then, I don't think he will be able to get $25K for it.

Sorry, that's a bitter pill...

 

[fakirone]

You said it had:
-$14k of paint left
-100 hours to resassemble: @$75/hr that’s $7500

You showed a motor that seemed to need rebuilding?
-That’s $4000 (very conservative)

Doing the math, that’s total left = $24,500

Car worth $35K done

That leaves $10,500 to buy it.

The car is worth, according to the Hagerty's valuation took, 50-60 done.

 

[fakirone]

@fakirone I gotta give you credit for reiterating your original question and not getting defensive or getting your panties in a bunch over the various responses. Asking that question is a guaranteed can of worms with all the opinions on this board. I don't have anything to add as I don't buy project cars. Hopefully your friend can recoup as much of his $ as possible and the car goes to someone who will complete and enjoy it. Best of luck to you on your projects.

Thanks. Fortunately, I don't get my feathers ruffled very easily even in the real world and I've been on the Internet for a very long time fully aware of how it behaves. I knew I would get a bunch of varying answers, I was just hoping to get more answers in line with what I stated the car was condition wise rather than them telling me what condition the car is.

All good though it's pretty much what I expected.

 

[fakirone]

I'm late to the party but I'll chime in:

The folks responding here are responding like any buyer would: Buyer Beware.

A potential buyer must assume that parts are missing, because it is near impossible to tell if all parts are present for a car that is totally blown apart. I have done several restorations and I can tell you that small parts that are missing get extremely expensive to find, buy and restore. At $20-$500 each, they add up fast. In addition, having the pictures and documentation/ parts labeling makes putting the car together more reasonable. A buyer, without extensive documentation, will have a massive puzzle that they need to figure out how to reassemble. This adds up to countless hours. Also, I can't tell you how many times I have worked to reassemble something that just didn't fit quite right. These cars come apart much easier than they go back together, especially if various parts came from donor cars. So there are 100s of hours left on this car. Anyone who has truly done a full restoration of a car will know that.

The engine was said to be running well before the car was taken apart, but without hearing it run, a buyer will likely assume it will need work - same for the transmission, rear, etc. I could go on, but the bottom line is that any potential buyer needs to assume the worst unless there is documented evidence to convince them otherwise.

If the car owner has receipts for almost everything and a potential buyer can go through the parts in an organized and methodical way this will certainly increase the value of a car. My buddy has $2,700 in re-chroming the inside window trim of his 67 GTX. So receipts plus the ability for a buyer to see these parts will help a lot. Having said that, $20,000 worth of perfect parts are worth much more for a 71 Hemi 'Cuda than they are for a 1st gen Charger. Unfortunately, it's just the way it is.

To help the owner sell this car the owner will need detailed documentation of all the parts plus receipts. It must be EASY for a potential buyer to get a "warm and fuzzy" feeling that everything has been done, done well, and that (most) everything is there. The number of people who want to buy a 2nd gen Charger project is high. Unfortunately the number of people who want to buy a 1st gen Charger project is low, so it will take time to find the right buyer. Even then, I don't think he will be able to get $25K for it.

Sorry, that's a bitter pill...

Agreed 100%. I am pretty sure that I have said this a few times in this thread, but yes, everything is very well documented with the receipt and all of the parts are labeled organized boxes etc. Obviously, just a big pile of parts becomes a total cluster when trying to reassemble. In this case it's fortunate that the work was done by very good shop so that stuff it's very organized, documented, and available for a potential buyer to look through.

And trust me I get it with small parts. I was "done" with one of my Harley builds and realized that I hadn't bought the bolts. Hate how much that small stuff can add up to, even on something small like a bike.

 

[fakirone]

I don't think this guy's gonna give up until he here's this car is valued at what a 1970 Challenger is. Unfortunate the customer spent all the money on this ride.

You mean like this one?

 

[plymouth67]

The car is worth, according to the Hagerty's valuation took, 50-60 done.

I question that number and, I will tell you why. 1st, look around, there are plenty of them for sale not bringing those kinds of numbers.
2nd., a friend of mine has a 67 Hemi 4spd Charger...real Hemi 4spd car (they made 59 of them) restored in the late 80's by him. Nice car but not perfect. Not the original engine but, very close to what would be considered date code correct as in 67 they did not stamp the VIN on the engines. He is the 2nd owner of the car and has history from when new as he bought it from the original owner in 1969. He has recently tried to sell the car and had a Mopar collector come look at it and couldn't come to an agreement at somewhere around 65k. A car is only worth what someone is willing to pay.

 

[plymouth67]

You mean like this one?

View attachment 1852450

What are you doing? Trying to clone my car?

 

[YY1]

FBBO jury consensus says- 15K value on a 70K investment.

BANG!

Case closed.


But seriously-

The Hagerty guide is the insurance value, not a sales price guide.
That's why it is 10-15K higher than the guide I posted.
You can verify this by looking at pricings of current offerings and recent past sales.

1967 Dodge Charger Market - CLASSIC.COM

 

[autoxcuda]

The car is worth, according to the Hagerty's valuation took, 50-60 done.

It’s not what people are paying, unfortunately.
Valuation tools don’t buy cars. People do.
Those that have been around and active in the hobby know that.

 

[RemCharger]

Alot of those cars that sold on classic .com for 45- 50 were turds.. you don't often see theses cars done at a high level.

 

[YY1]

Those cars are from multiple sources, not just one.

It's a fairly comprehensive tracking of sales of that particular year and model.

Which is exactly what you want to pick though to find cars that are most similar.


Hard to sell a concours restoration that isn't done.

 

[padam]

You’ve basically posted it for sale here with this thread. Among guys that do this type of car.
What offers have you received (pm?)

 

[fakirone]

What are you doing? Trying to clone my car?

View attachment 1852452

It's got a custom full tube chassis and the owner is trying to figure out what drivetrain he wants in it. Been paused for a hot minute (years)

 

[fakirone]

You’ve basically posted it for sale here with this thread. Among guys that do this type of car.
What offers have you received (pm?)

None actually. Which is great. I really am looking for info as I know very little about buying/selling these.

Most of my cars I didn't even pay for.

1976 New Yorker, $0. Helped the guy sell a field full of weird Mopars and he gave me it as a thank you.

1968 Dodge A100, traded for a Harley, that I traded for a Harley that I traded for a Harley, that I bought for I think it was $800

1993 Ford F350 4x4, mother bought it new and handed it down.

Only car I own that I actually bought is the 1964 Galaxie that I pulled out of a field and paid way too much for because it's my exact dream car since I was 17 and it came with ALL the original documents including dealer paperwork, loan docs, insurance, etc.

 

[padam]

None actually. Which is great. I really am looking for info as I know very little about buying/selling these.

Most of my cars I didn't even pay for.

1976 New Yorker, $0. Helped the guy sell a field full of weird Mopars and he gave me it as a thank you.

1968 Dodge A100, traded for a Harley, that I traded for a Harley that I traded for a Harley, that I bought for I think it was $800

1993 Ford F350 4x4, mother bought it new and handed it down.

Only car I own that I actually bought is the 1964 Galaxie that I pulled out of a field and paid way too much for because it's my exact dream car since I was 17 and it came with ALL the original documents including dealer paperwork, loan docs, insurance, etc.

Okay, my point is, that should give you an idea of the demand for this project.

 

[RemCharger]

None actually. Which is great. I really am looking for info as I know very little about buying/selling these.

Most of my cars I didn't even pay for.

1976 New Yorker, $0. Helped the guy sell a field full of weird Mopars and he gave me it as a thank you.

1968 Dodge A100, traded for a Harley, that I traded for a Harley that I traded for a Harley, that I bought for I think it was $800

1993 Ford F350 4x4, mother bought it new and handed it down.

Only car I own that I actually bought is the 1964 Galaxie that I pulled out of a field and paid way too much for because it's my exact dream car since I was 17 and it came with ALL the original documents including dealer paperwork, loan docs, insurance, etc.

If you're going to make an ad,, you really need to play up and show off the expensive shiny stuff. More so than the car itself. Does it have a fender tag BTW?

 

[DaneBisel]

It’s a shame too became se its a damn nice car!

 

[fakirone]

Okay, my point is, that should give you an idea of the demand for this project.

Oh, I have someone that is very likely going to buy it, and I've known about the car for less than 2 days so ‍

 

[fakirone]

If you're going to make an ad,, you really need to play up and show off the expensive shiny stuff. More so than the car itself. Does it have a fender tag BTW?

Yeah, I don't have the info from it right now though.