70S Basket Case Valuation

[greens]

After much thought I have decided to sell my 70S. Originally I bought this as a companion to my '69 but it apparently got jealous and decided it wanted an engine reseal so money for the 70 has been depleted.

Let me start this off by saying this car is a basket case. While mostly complete and having what I believe are the original engine and tranny, it is completely disassembled for restoration and hasn't run in what I understand is about 20 years.

Good things:
1. Pans and suspension (torsion tube, front pan) are very solid. There is some rust in the dash corners (visible as dash pad is removed), the rockers appear to have been replaced as were the door jambs but more work is needed to complete. In the floor, there is a section in the passenger side footwell that needs minor work (CAR had AC and I think the AC leaked water plus the car sat) but the front pan, tank support and main pan are original. Jack mounts seem basically solid. Car needs a door skin on the driver's side, passenger is excellent.
2. has the hard to find S parts like the oil cooler system, MFI. Engine/trans are complete and not disassembled. Has glass and window frames.
3. Car is stripped down to a rolling shell saving someone a lot of time
4. I had the car sodablasted in and out but the car has an epoxy primer now to inhibit rust of bare metal. I have pictures to show someone of what it looked like pre-primer.
5. Clean NH title.
Bad Things:
1. Car has had the roof replaced but IMO it still needs work. The back window channel and sheet metal box section on the lower part of the rear channel show deformation from damage in the past. This will need to be cut out and replaced. I do not know if the car was rolled (necessitating the roof) or if something was dropped on it. Front windshield clearances also need to be checked out. I determined this after I bought it as PO expressed no knowledge on this subject. There was a previous post in which I discussed this with member feedback. I am sure this can be fixed at a nominal cost by someone with the right frame fixtures.
2. Car needs full paint and interior. I have seats but am not sure if they are the ones which came with the car originally. Original color was light yellow with a cork interior based on the color code and interior remnants.
3. Needs alloys (not with car). Rolling on steel wheels and bad tires.
4. Probably needs front hood and driver's fender.

This is a ground up project. I will probably list the car locally (here in CT) and on ebay so the question is what's a fair price. My goal is to sell the whole car and prefer not to have my wife all over me as I sell it off in parts and her car sits outside this winter. While I like to meet new people, I am interested in selling it and not just looking for the absolute highest price. But having seen some recent basket case sales recently, I think this car is certainly as good as some I have seen w/extensive rust or equally disassembled condition so I am looking for a "fair" view.

What are your opinions on the value of the car under these circumstances?

Jim L.

[RPMClassic]

When you get a chance, pls send some info along to heimbachracing@yahoo.com

Thanks

[Zeke]

I'm not an expert on these things, but I've been in the market for a while. Your description is very good and sounds honest and complete, an asset, IMO. AFA value, unfortunately, it is probably pretty high. Good for you, not so good for the person that puts 25K+ in the car to build it back. However, properly done, it should fetch in the high 30's, if not 40K, when appraised and/or sold. So, basically, the project is financially feasible pending the buy in.

That's where it gets tough because the parting out value is quite high. As such, you may have as much as 15K sitting there. And don't be surprised about the motives of folks around here. Seemingly well meaning people will face the prospect of a year's work (or much more, depending) and start to flip parts.

Certainly a quick, very quick 10K. Again, things are going nuts, so the car could be worth 50K when finished, or 20 if the market turns by then. Personally, I wouldn't want to have investment money in a 911S in 2 years. But, most will say having "investment" money in any car is not sensible. Yet many others do. This is not healthy for the market, only driving the prices beyond reason. Look at Ferrari (and other marques) prices of the late 80's.

I know a guy that paid 15K over sticker for an '89 Speedster only to loose his ass in '91. He also bought a 308 about the same time, ouch. But, I digress. Still, this is why I'm skeptical about the market.

[roblav]

Jim,

Thanks for stopping by. We enjoyed looking at the 69 car and our discussions.

I'd say $12K...

Of course, though, I could use some parts off it. Good Luck - whatever you decide to do.

Rob

[Paul Schooley]

Dang, I'm looking for a decent tub but wasn't planning on spending that kinda dough for it. It's gonna make a nice honest start for someone however.

[pu911rsr]

I just sold a very good running and driving 69S for 19K, maybe that was too cheap, hard to know. Car needed some resto work but what an honest and complete car that could be driven anywhere. I sold another 69 S that had been gone through, paint was new but mediorce and motor was unserialized, had incorrect wheels that one sold for $23,500. Hope that helps.
Phil

[budge96]

Hey Jim ,how goes it ..saw a very similar car ,comparable condition about 5
mos ago on e-bay ? Don't know if this is same but color ,interior ,no suspension installed and motor out or not having started in 10-20 years makes
it sound familiar ,maybe it was in New Hampshire though..
That car didn't meet reserve or minimum at 10k ,which personally I didn't believe to be too far off the mark ,particularly with what complete cars no less ancillary components are reaching these days ..it just didn't get any takers.
It seems like the cost of transporting and subsequent moving rollers around can detract from the lure of ownership for all but the hardcore so that may be a consideration in pricing .
I on the other hand have some interest in a complete even fully dissasembled
2.2 S ,but would prefer a shot before e-bay for the truly sick and un treatable, thanks Bert ecrobinson1726@msn.com

[mike walker]

My neighbor told me a few months back he had an old Porsche in a state of restoration, engine done, tranny done, car in primer and he wanted to get rid of it for what he paid $9,600.00. At the time I was busy....... I went by there yesterday and he sold it to a guy in St Louis. It was a
68S with sport seats....damn!!!!

[Zeke]

Hey Mike, turn around, I want to kick you too.

Seriously, you don't know much about the motor or trans in those deals. I'd rather have anything unmolested. I'm looking at a T which is nasty, nasty and rusty to boot, Motor is out and water got in. Otherwise, complete albeit disassembled. Front and rear glass is missing. I told the guy to part it out, but he doesn't have the time.

This is a T, so the reference to the S is what I'm bringing up. I think 2K will roll this car onto my trailer.

[greens]

The discussion has been helpful and I appreciate all of your comments. The car is coming back from the shop probably this weekend (if it ever stops raining here) and then I can list it and show to those who have an interest.

My experience is email and pictures don't give buyers good descriptions on projects, especially if they plan to fix them. I'm hopefully giving you all a straight review but we all see things differently. For those who have an interest in this car, give me a call at 860 875-5036 eves and we'll see if we can work something out. Price wise I've got about $12K in it so we'll start there. I really think this car is worth saving but the market as with everything will decide the right price for the circumstances. Thx again