Author Topic: What's it worth? (Read 493 times)

tarafied1 · « **on:** February, 03, 2009, 03:59:21 PM »

Since you guys have honed your skills on the contest, let me ask you what this is worth. It's a 65 FB bought from a junkyard with no title but it does have a VIN#. It is 85% new metal, a Rod and Custom Motorsports MII front suspension, includes all the windows, glass, new bumpers, the dash and related used parts, some of the interior (no seats). No engine, trans, etc. but a 8" rear with Rod and Custom Motorsports rear disc kit, new leafs, shackles, shocks. A pick-up bed full of misc parts for 65/66 Stangs and a flaming river tilt column. I have done a large amount of work on it myself including the new frame rails front and rear, full floor, firewall, trunk, quarters, cowl, just about everything except the roof. My buddy bought both my 68's because he like them better and I'm trying to get him to sell me this since he has focused on the 68 FB and wants to make an Eleanor. Thanks

pnandy · « **Reply #1 on:** February, 03, 2009, 04:09:42 PM »

6-9k Im the craigslist champion by the way :toot :toot :toot :toot :toot

tarafied1 · « **Reply #2 on:** February, 03, 2009, 04:23:33 PM »

Thanks,
I was going to offer $5K since I am the one who hauled it from the Junkyard to his house (150 miles) and helped him put it in his garage and do a lot of the bodywork including using my MIG welder. The wheels and some of the small parts I gave him for the car already. I also hauled the two 68's to his house and donated some time working on them and chasing parts for those too. Plus I have been his technical advisor on all his projects (which include a 67 Ranchero I also hauled to his house a while back)... I don't think he wants to sell it but he hasn't touched it in about a year. We did most of the work in the pics last winter. I'm hoping I can convince him to sell so he can get farther on the 68. He has been working on it non-stop since we got it in his garage! He has completely stripped the donor coupe and already buying parts for it. The 65 would be perfect for the car I want to build for my wife.

Fast68back · « **Reply #3 on:** February, 03, 2009, 04:32:07 PM »

Seems like you did a lot for this guy, it also looks like Sanborns car when he bought his, I'd check with him, or wait for him to chime in.

Looking at the pics, I woulda said around $4500 looking at the first pic on the trailer, a bit more now that the work is done, but figure he may have paid for the parts and you helped with the work. Be careful you dont have a price in mind based on all you've done for him and get upset with what he wants/thinks its worth. Good luck

tarafied1 · « **Reply #4 on:** February, 03, 2009, 04:40:01 PM »

Quote from: Fast68back on February, 03, 2009, 04:32:07 PM

Be careful you dont have a price in mind based on all you've done for him and get upset with what he wants/thinks its worth. Good luck

I know he doesn't WANT to sell so I figure he may need more $$ to be convinced. Thanks though that is good advise. It is missing a lot of little things but the hard part is done (other than final prep for paint).

pnandy · « **Reply #5 on:** February, 03, 2009, 05:42:48 PM »

it has alot of expensive components on it is why i would place that price on it but if your his friend and have helped him out andhe has other projects going with your price is what you should get it for

AzPete · « **Reply #6 on:** February, 03, 2009, 06:20:12 PM »

Nobody has mentioned the fact that there is no title. What is the story on that? Most say run from title issues. Do you know 100% that the car can be titled without any problems. Having a VIN is the first step. What if it comes out as a salvaged title? Junk yard should have needed a title to even take it in. Something sounds amiss. I would find out prior to any offerings.

Fast68back · « **Reply #7 on:** February, 03, 2009, 06:44:27 PM »

I wouldnt sweat the title to much, if it was stolen it wouldnt have the vin. If you try a place like broadway, they'll now if it has issues. BUt I think you make a point, I would make the sale dependant on getting a title.

tarafied1 · « **Reply #8 on:** February, 03, 2009, 08:05:09 PM »

I talked to the DMV here in town. They said if I get this form they have filled out from the junkyard (which claims they have had the car 20+ years) that I should have no problem. It is basically a lost title that I apply for, the DMV run a search on the VIN and if it's clean they issue a title for some fee of course plus I will have to pay a sales tax of some predetermined value. They talked like it was no big deal. My buddy who bought the car has known of it's exisitance in this junkyard for quite some time so he believes it has been there a long, long time. The owner of the junkyard actually started cutting the rust out some time ago and then was in a tow truck accident that left him paralyzed from the waste down. He has had it in the shop for years and collected some parts for it which include extra doors, fenders, trim parts etc.
Also an option is to go the KIT car route since it will basically be completely rebuilt but that sounded more complicated.

Fast68back · « **Reply #9 on:** February, 03, 2009, 09:19:05 PM »

Did the DMV say if it was a state issued VIN they would assign or of they would use the original one?

daveSanborn · « **Reply #10 on:** February, 04, 2009, 06:05:28 AM »

Craig,

The car looks pretty good to me! My '66 was in similar condition when I bought it less than 2 years ago for $5k.

My previous owner had installed a "home version" MII type front suspension that I eventually cutout and replaced with the R&C kit. The R&C front suspension kit costs $2-2.5k, the FR column another $300, the rear disc brakes another $3-400.

If you can get the car for close to $5k it would be a VERY GOOD deal/steal. I think $7.5k would still be a very good deal. I wouldn't be concerned with any of the "little stuff".... 95% of these items would be replaced with new items anyway. Some of the rear seat/interior pieces can get a bit pricey, but the parts are plentiful and you should be able to source any missing items.

I'd be 100% sure of the title situation/resolution before I bought it though...

AzPete · « **Reply #11 on:** February, 04, 2009, 06:53:26 AM »

Sounds good as far as the money and title issue. Just take the VIN to the MVD and have them tell you exactly what you would get back.

JeffTepper · « **Reply #12 on:** February, 04, 2009, 07:34:41 AM »

Addressing the title and VIN points raised in other posts. Back when I was involved with this stuff here in the Golden State, if a licensed auto dismantler acquires ownership of a car, the title, registration, and plates are surrendered to DMV and the car is then considered "junked". If that car is later sold, the dismantler issues a "Junk Bill of Sale" which, along with other DMV forms, inspections, and fees is the basis for a new title showing the car as a "revived junk". It may be similar where you are.

However, with the front aprons being replaced, your car no longer has a VIN, so whatever paper work you might have is no longer obviously connected to that car. In these circumstances, the DMV would require that the CHP assign a new VIN to the car that would be used for the new title in your name. Depending on current procedures in your state and your ability to convince DMV that you are not operating a chop shop this process may or may not be a breeze.

Let us know how it works out.

tarafied1 · « **Reply #13 on:** February, 04, 2009, 03:43:42 PM »

First I have to convince him to sell, right now he is reluctant and I don't want to make an A$$ of myself bugging him about it.
From what I understood here in Kentucky, (the salvage yard was in KY also), if the salvage yard sign paperwork (I guess stating they surrendered the title way back when), the state will issue a new title on the original VIN. He does have the original apron and door tag in the garage. What I am not clear on is if the title will be a "Rebuilt" title. I will follow-up before any money changes hands. They (KY DMV) said they could issue a new VIN/title also based on the fact that most of the car will be new or replaced (I showed some pics) but that sounded a bit more complicated. A few guys I know that built rat rods did the new VIN/title thing since their cars were made of so many different parts they didn't really have a VIN anyway. The car will not be restored concours original so I don't think a salvage title or new VIN will hurt the value but if I get it my intention is to build it for my wife, not to resell it.
Thanks for all the input.