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Advice on buying a 1955 Starfire 98 convertible


DSMtuned

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Hello. I'm new to the board here.

I may buy a 1955 Olds Starfire 98 convertible. I am new to classic cars, but want to work on maintaining this one for my father-in-law who comes to the States 2-3 times each year, but loves owning classic cars.

The problem is, I have no idea where I should start the negotiations as far as price on buying this car. I'll let you know the general condition. Please let me know what you think would be a fair place to start.

The car has been repainted and the paint is in pretty good condition. There are a few quarter sized rust spots where the paint has chipped off. There is a 1/2" deep dent that is as big around as a basketball in the rear quarter panel. The rear bumper has been pushed into the rear body work and caused a crease about 8" long. The interior appears original and is cracked, but all pieces are still there. The windshield has two vertical cracks from top to bottom. I have yet to drive it or even hear it run. The engine has a few oil leaks, but really nothing major. The VIN number on the engine and the body are different, so the engine has been replaced. The top is unzipped and water and leaves have been pouring in the back, so the interior is pretty dirty. The top has a 10" rip in it.

Let me know what you think. I was thinking of offering like $8000. Does that seem about right?

I appreciate your help!!

_Craig

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The book value on that car in #1 condition is $60,000+. However to get your car in that condition would cost much much more than that. I would pay $8000 for the car as a restoration project. BUT, I think you are looking for a car to use once in a while for a nice drive rather than a maintenance nightmare or a money pit. I would look for a nice "driver". A nice to fair shape driver of that period can be had for about $8000. It won't be a high end convertable but in my opinon a nice two or four door model would be much less work and much more enjoyment for you. Just my two cents........Bob.

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54 to 56 Starfires are among the most sought after non-Fiestas from Oldsmobile in the 50's. I was wondering what the seller is asking. Is he asking more then the $8,000 or is he just fishing to see what interest is out there?

The vehicle as described sounds like it deserves and needs a full restoration, not a few fixes to bring it to driver level. Keep in mind that you want to impress and provide leisure to your father when he visits by driving the car and if it as described that may not be possible for years.

As an investment you can not go wrong right now with this car but yes it will take probably $75,000 ballpark to restore correctly. You could then drive it and enjoy it for a few years and by then it should get $60,000 to $80,000. But it has to be in very good documented condition.

For $8,000 you can buy an early sixties Olds (or any GM) full size convertible in very nice driver shape. A friend of mine has a very nice original 64 Electra convertible in dark diplomat blue with dark blue leather interior for $6,000 that runs and drivers perfect. As an example.

Ultimately up to you but $8,000 is a decent price for a solid, restorable 55 Starfire.

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Guest Silverghost

Welcome Craig!!! I have not seen this car...BUT...

The "Price Guides" indicate a price from $5160.grade #5 to $ 8600. grade #4 !!!

Make sure the car runs well!!! As you describe this car I would say it sonds like a grade # 5 car!!! ($5160.) I don't know how much you want,or have, to spend...But I would buy the BEST example that I could find and afford!!!

The cost of restoration is very very high today!!! Often you have to put in much more money to restore a low grade car...than the finished car will be worth...

Let someone else take the loss...Buy their restored car !!! You will be way ahead of the game this way...Far too often first time old car buyers will buy a car needing a great deal of restoration thinking that they will save big money this way...More often than not they will soon regret not buying a car in better overall condition!!! I don't know if you like to work on old cars or not...BUT...I would not advise a first time old car buyer to buy any car needing this much work +restoration!!! Think long and hard about this!!! You say you would like to maintain an old car...This can be GREAT FUN!!! A restoration project car, like the one you seem to be looking at can be a nightmare!!! Finding someone to work on it, painting,

replacing the interior, and on and on... Buy the best you can afford!!! Then you can enjoy maintaining + DRIVING IT!!! You will thank me later!!! If you ever want to sell the car...It will sell faster and for a much better price...A good origional well maintained car is much easier to sell than a half-restored one!!

You can also start to enjoy driving the car from day one!!! Not enjoy just working on it!!!

The Car Restoration Shop Owners will want to shoot me for telling you this!!! After all...

This is how they make a living!!!

Start with a good sound origional driver...

There are plenty to choose from out there!!!

As far as convertables are concerned...

There is an old saying in the old car hobby...

"When the top goes down...The price goes up!!!"

Convertables are 'Top of the Line!!!"

Just my opinion after 30+++ years in the "Old Car Hobby!!!" If you want to talk old cars...

Give me a call 1 215 947 4676 or Email me at silverghost1926@msn.com

Best of Luck to you!!!

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