whats it worth?

[allcarfan]

I came across a guy in southern GA the other day. he was working on a mustang. Had a REALLY nice shop he was working in. I just stopped by when I saw it was a mustang and struck up a conversation. he was extremely knowledgeable and said he was thinking of selling it ...as is. He told me to make him an offer if I was interested. He said he wanted to concentrate more on his daytona coupe that he was building...in the back of his garage.

This is what he had:

66 coupe
no drivetrain
built 9" rearend
17" CHROME TTIIs
fiberglass shelby front clip
gt350 hood
fiberglass decklid with spoiler
replaced floorpans
replaced cowl.
seats and carpet were good, but out of the car. Good door panels
lots of body work done...extremely straight. He is about to prime it for painting
Custom center console
Xpipe, flowmaster mufflers, polished tailpipes through a GT rear valance molded in
620 coil springs
edelbrock shocks in the rear
no windshield

-all parts to complete the car (less engine and trans) were there.

This car was really straight. I couldnt find ANY rust on it....except for some surface rust from this GA humidity. Everything looked great! Everything was so straight on this car, no frame damage, underside was clean...no caked on grease or road grime.

What would you offer him for it? I know the gt350 hood, shelby front valance, and rear decklid alone are almost $1000 in parts. The CHROME TTIIs and the new tires he had were at least another $1000..thought this car might be a nice edition to my coupe.

What would you offer?

 

[DarkBuddha]

My new rule is to imagine what a finished complete car would cost, then subtract what it would cost to get the car you're looking at to that level. I figure a really nice newly built decent (not show quality) Shelby-esque "restomod" '66 coupe with an EFI 5.0 and AOD (or 5 speed) can be had in the mid teens to $20k range. So, figure $6k for putting a drivetrain (crate motor and new tranny) in it, $3k to $4k to finish paint, glass, and body (assuming all major rust and panel replacment has been done), then miscelaneous (you know, all that stuff we take for granted like hoses, lines, engine dress, brake bits, etc.) for another $2k, plus assembly labor to put what's left to do together for another $2k. Do the math and that's $14k. Subtract that from $17,500 (right in the middle of the range of buying a completed car) and you're looking at $3500 worth of car. That is only if you completely believe that you won't have to touch or redo anything that has already been done. And if you think about it, $3500 seems about right for what you're going to get, which is basically a straight body with some decent bonus parts and a straight body.

Now, sure, you can argue with my reasoning, saying that you'll save tons of money by doing all the labor yourself and doing the paint and body stuff yourself, but you asked about "whats it worth". For me, this means what it is worth "on the market", which means within the context of everything from rustbuckets to completed cars. The better off you start the more you'll save in the long run, which is why folks lose money on rustbuckets. But You can also buy a killer car for less money that is in it. It's all about getting the most for your money, right?

Hope this helps...

 

[302 coupe]

I'd say between 4-5k.