1950 Buick Purchase Price Question????

Hi Everyone. I have a question about purchasing a 1950 Buick 2 door 56R. Exterior paint is decent, but the interior is shot. It's a running & driving vehicle with very little rust, but there is some rust through on the front driver side floor. The guy wants $12500.00 for it & won't budge on the price at all. I really want the car, but think he's asking a little too much for it. Is this a good price for this particular year & model car in this condition or should I just pay him the $12500.00. I've looked & looked & this is the best one I've found in my price range after many months of looking? Any advice would be great.

Thanks,

Josh

Do ya good to post some photos of the car, mileage & any documentation. The interior is the one of the most expensive parts of a car. If there is rust through any where it could mean a can of worms once you get going on it. Interior and shot floor boards means water damage and or sat on ground contact. Documentation and history is important as well as Past receipts. If none of this is provided or just some of it, then I would offer around $ 7,500 tops for the car or continue to look. Just because it's a 2-door does not mean it's not just another dollar chasing a dime investment. Consider the time you will have to physically invest in the project to complete. - Good luck.

Edit: For example, heres what around $ 16k gets you. A crap load less of time n headaches to boot !

http://lukestedman1.wix.com/1953-buick-riviera

$12,500? He is just joking. He really does not want to sell that car.

Ben

Great point buick man

Based on what you describe, without seeing it, it's worth less than 1/2 of what he is asking, or another realistic way to look at it, it's worth whatever he can get for it.

"very little rust, but there is some rust through on the front driver side floor"--that's not very little rust, that may be very little visible rust, but that's not very little rust

I urge you to search both Barrett-Jackson and Mecum's sites to see what very nicely restored versions of similar cars are bid to/sold for.

I know this is a 1951 special, but $13,000...

https://www.mecum.com/lot-detail.cfm?lot_id=FL0114-172487

Hey guys. Thanks for all of the advice.

Here are some pics of the car. Please let me know what you think the value of this car might be.

Thanks again.

Josh

it looks like a good driver, not a bad car by any means, in the end, if you love it, buy it

it also depends on what your plans are

keep it for 50 years? pay more and that's ok

restore it? you'd never get they money back out of it

both?

etc.

One thing I always say, you can't pay too much for a car you love, unless you can't afford it.

I believe the car is between $5-$7k. But as 38buickeight said, if you really like the car then make the purchase. I probably paid a wee bit too much for my 54 but you know what, when I saw it the first time I wanted the car. The cost is a faded memory as my days are filled with enjoying the car like I envisioned I would.

Is the 50 Buick the car that you wish you could own? Not just settling on?

Hagerty's website has $8800 for Josh's 56R (#4 condition, what you're looking at may be somewhat worse than that).

I had another response written up for you, rationalizing that it might be worth it for $9k, but I clicked on BuickMan's link - they're down to asking $14k on that green '53. That's much closer to the fair value (Hagerty has right on $14k for #3 condition for that one). If they're asking that, see if they can move on price at all. Even at $14k, it's a much more fair deal than what you're looking at. MUCH nicer car.

But if it HAS to be a '50, and it HAS to be a 56R... I'd still lean towards keep looking or stick to an offer no more than 9k.

'51 46R...

Need to consider the cost to either pick up a vehicle in whatever state it is and or getting a car carrier to transport it. So at $9k for a car six states away it might cost you another $1000 to transport it.

I would say this...the car you are looking at Josh, at that price, will still be available to you for a while because of the price he is asking. With that said, keep looking. It might be better for a car purchase at $10K in great condition and go pick it up yourself or transport via carrier. If nothing comes up then I bet it will be there for you to purchase. Maybe the owner will drop the price a bit at that time.

Need to consider the cost to either pick up a vehicle in whatever state it is and or getting a car carrier to transport it. So at $9k for a car six states away it might cost you another $1000 to transport it.

I would say this...the car you are looking at Josh, at that price, will still be available to you for a while because of the price he is asking. With that said, keep looking. It might be better for a car purchase at $10K in great condition and go pick it up yourself or transport via carrier. If nothing comes up then I bet it will be there for you to purchase. Maybe the owner will drop the price a bit at that time.

Now them are some words of wisdom!!!!

Compare: '53 2dr HT $4500 obo. You don't say where you are, but even at $1k to ship, make an offer, get it there, get it going, then drive past this guy's shop & wave...

http://www.ebay.com/itm/Buick-Other-2-Door-Hard-Top-1953-buick-2-door-hard-top-west-texas-barn-find-project-car-original-/281595999283?forcerrptr=true&hash=item41906df433&item=281595999283&pt=US_Cars_Trucks

Compare: '53 2dr HT $4500 obo. You don't say where you are, but even at $1k to ship, make an offer, get it there, get it going, then drive past this guy's shop & wave...

http://www.ebay.com/itm/Buick-Other-...US_Cars_Trucks

Bad comparision. The '53 doesn't run, so condition of engine and drivetrain are a total guess. And it has rust on the door bottoms. The '50 runs--you can see the fan turning in the engine photo.

Alway buy the best example you can find. You can never bring a lesser and cheaper car up to that level for the same money. So quit doing what I have done: buying some rusty, crusty relic with missing or worn out parts...are you ol' boys 'across the pond' listening

Willie

Well, if this is the same car I have been looking at since 2009 or so, he has been looking for a buyer for some time now and most likely will not sell it soon or it would of sold a long time ago.

Is your car in Utah like the one I am thinking of ? $ 24,000 is the asking price for this one below and looks like the same one your looking at to me same back buildings as well. Probably just a coincidence ya think? This seller had another one hanging around for ages as well. Have not seen that one for some time though. Always wondered why they had not sold. The price jumps up and down too if I remember right.

Take a look:

http://www.oldride.com/classic_cars/404633.html

I am I correct seeing the same $5000 car being advertised for $12,500 and $24,000?

As I see it there are three kinds of cars. The cheap rats that need everything and probably never get finished. The expensive, completely done, needs nothing, local show winner, that is still less than a total resto.

And the 10-20 footer. The car that to the untrained eye is "mint"!. But actually still needs everything, though not as badly and will suck cash out of your pocket at a slower rate. Most of us have one of these I suspect. You can stop at any time but they are never done.

I would get the totally done, restored car.

Just my opinion.

Hey Guys. Thanks for all the advice. At least it will give me something to think about & yes it is the one in Utah. Sounds like from what you guys are saying that the guys been hanging on to it for some time. The problem Im having is that I've been looking for close to a year & this is literally the only car in my price range that has come up. Most are way above what I can pay. Yes it has to be a 1950 2 door Super or Special. I don't like the long body of the Roadmaster. Just my opinion. No offense to those that like the longer body though. But the 1950 grill is & always will be my favorite. The first time I saw one I fell in love & now that's the only car I want. I'm just getting tired of waiting for a car that doesn't seem to exist & I feel like the values aren't getting cheaper by waiting. Anyways thanks again for everyone's advice. All of it has been very helpful.

Josh

Josh: Try thinking about it this way. O.K. you have the $ 12,500 here and now for this car and you buy it. You will need to put at least $ 6,500 into it upon purchase to just correct immediate attention items. Believe me these items will be annoying to you in short order. So now you have say what, $ 18k - $ 20k into the car and there will still need to be more. There always is.

Now how about this scenario, O.K. so you don't jump onto this one and you wait all the while putting the $ 12,500 into a 4% yield fund and at the same time start putting that $ 6,500 you would of no doubt had to put into this one immediately unless you like driving around on a milk crate and that get's old too along with all the other "things" your gonna find out about the car as you own it and dig into it.

Now in just a short while you will have a good chunk of change saved and suddenly a new market will open up for you. You will now be able to look for number 4's or better 1950 Buicks and they are out there believe me, that some guy is selling cause he's bored with it or whatever and is selling it for about 2/3rds of what he has into it and the car is finished, proper, safe and ready to drive. - His money not yours.

Showed up today: 2-door HT '50 Special. Not sure how much fixing up you're into...

http://sfbay.craigslist.org/pen/cto/4894131359.html

Hey Eric. Thanks for the link to the car. Unfortunately I called that guy about a week ago & the car is non running, he has no idea when the last time it ran was, it's been sitting in a field for God knows how long & all the floors are completely shot. Oh well. Thanks again.

Showed up today: 2-door HT '50 Special. Not sure how much fixing up you're into...

http://sfbay.craigslist.org/pen/cto/4894131359.html

That is a Super, so says the one piece windshield.

Ben