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1954 Packard Converible


Guest Tim curley

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Guest Tim curley

I have a friend that has a 54 Packard Convertible that he would like to sell to settle his fathers estate. He had it shipped to New York State from Florida by some yahoo and the old top got destroyed. The guys insurance paid a large portion of the bill but he got stuck paying $700 out of his pocket. Anyway,long story short, he has a beautiful new top and frame on it now. Wish I had pictures(will have in a few days).The body is in fine shape, shines like new. New tires, and starts right up and runs great. He's in Binghamton NY. He's not real sure of the value or even what to ask for it. He did say he would sell it for $30,000, but neither him nor I have any idea and at this point, he just wants to settle the estate and get on with life. So, if your interested, best to drop me a line at twovettes@gmail.com. I'll be posting pictures soon. Oh, it's green with a near perfect interior.

Thanks

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Guest Rob McDonald

TIM, check out the National Automobile Dealers Association (NADA) website for a ball-park evaluation - http://www.nadaguides.com/classic-cars/1954/packard/. A "standard" Packard convertible - still an attractive, high end car - in decent "20-footer" condition, is pegged at $32,800, while one in show condition runs up to $53,700. As Don notes, a Caribbean realizes much higher values - $60,800 for Average Retail and $85,400 for High Retail. Your friend could have more money tied up in his father's car than he knows. Or not; everything depends greatly on condition, both esthetic and mechanical.

Packard and Caribbean convertibles - the extra flash raises the value, big time.

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Edited by Rob McDonald
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Guest Packardsforever

While my name obviously gives away my great like for Packards I always have believed the NADA is unrealistic in it's values of these cars and most classic cars in general. I think they refer to retail prices from a dealers viewpoint and rarely does anyone pay retail. There is currently a nice example of a 54 Packard conv. on Ebay and what they do on Ebay is usually a decent indicator of the current market. I was at a classic car auction over the weekend (no Packards) and the prices are still really off from 5-6 years ago. Out of 200 cars only around 25% sold and only then because the owners lowered the reserves greatly. A very nice 54 Packard conv. from Fl. sold $25K just a few months ago on Ebay. It was in good running condition, everything worked as should, no rust, good paint etc.

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I passed on a really nice I believe it was 53 Convertible at Hershey last year. Excellent Chrome around, All rechromed (even the small stuff), New interior top paint and it looked good under the hood. It was driven an hour there, I seriously considered it. I would call it a 2. Very nice underneath as well. Looked to have been around a 5 year old restoration. He was a dealer and asking 30,000 for it. I passed, but called him later to see if he sold it and it did sell although he was looking for an offer so I would have to think it was atleast a grand or two under that.

Show us some pictures. Maybe someone here would be interested.

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Mr. Packardsforever says in Post #4 that he feels NADA antique-car

pricing is unrealistic. I too have found it higher than other price guides.

In the preface to their printed book, they acknowledge that their pricing

is higher than other guides'. They explain that their prices are for ALL-ORIGINAL

(unrestored) cars. I don't know if that's made clear on their website.

But I feel he's right, and most people looking up quotes don't realize that fact.

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Guest Packardsforever

I don't know why these 54 Packard conv. haven't hit their stride in the value dept. I've always liked them best out of all the 50s Packard convertibles--(just my preference). When restored correctly they are a really neat car and the largest straight 8 Packard ever made. I think their trim looks better than the Caribbean but again, that's just me. They also came in some really beautiful colors, I also like the Pacifics as well, their hardtop brother.

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Guest Rob McDonald

PACKARDSFOREVER, I can't vouch for NADA's accuracy in determining value, although I have found them to be in the ball park, sometimes even low, when cars that I know do sell. Hagerty's price guide is usually 20% to 40% higher than NADA. Granted, both organizations are in the business of promoting the perception of enhanced values, NADA to justify high asking prices and Hagerty to collect higher insurance premiums.

What other free online guides do you feel better reflect the actual selling price of old cars?

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Guest Packardsforever

Rob,

I agree on why Hagerty & NADA are both high. If the car is a 1946 or higher then I usually look at Used Car & Truck Prices, Exotic car values.

Most cars are not #2 or #1 cars as people would have you believe. The advertised cars that are very nice usually fall between a #2 and #3 condition. Also, Ebay is a fairly good indicator to what the true current market value is.

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Guest myold88

I also agree E-bay motors ( the selling prices) is the best indicator of antique car values.

The big disagreement I have always had with NADA values is how they price a 4 door car at $100.00 or so below the same year and model 2 door. From my experience 2 door cars are snapped up while 4 door models linger on the market or go unsold. Generalizing of course.

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Price guides are worthless. SELLERS always use them to determine price because they are high and buyers always pay less. Buyer's Guides ought to be audited by an independent 3rd part who specializes in statistical analysis. PROVE where and how you reached pricing and it might have more credibility. Old cars are not homogenous. There are way too many markets (i.e. auctions, private sales, ebay, Hemmings, Craigs List, dealers) and no way to track the quality of the cars to accurately determine correct adjusted value.

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Guest Rob McDonald

BEEJAYEM, "worthless" is a bit strong. I think free online buyers guides do provide a comparative reference for arm chair wheeler-dealers like me, who do far more surfing than selling and buying. I've only transacted four cars in the past ten years but I look up values on a weekly basis. It's become part of the hobby.

PACKARDSFOREVER, your link to VMR Auto Guides is interesting, although you misdirected us to the late model exotic car site. The post-war collector car site is Collector Car Values, Auctions and Profiles at Collector Car Market Reveiw. It took me a while to realize how to drill down to the free valuations but, once in, the information looks good.

For example, CCMR pegs this '54 Packard convertible in a range from $4050 to $56,925. That top end is actually higher than NADA, at $53,700. Hagerty wrongly calls it a Pacific convertible but sets the high point at $56,500, close to the other two sources. So it seems that, if these free online value guides are inaccurate, they are consistently so.

Short of following individual eBay sales religiously, how can one use those selling prices to determine values? Is there a searchable summary of recent sales posted somewhere?

Edited by Rob McDonald
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BEEJAYEM, "worthless" is a bit strong. I think free online buyers guides do provide a comparative reference for arm chair wheeler-dealers like me, who do far more surfing than selling and buying. I've only transacted four cars in the past ten years but I look up values on a weekly basis. It's become part of the hobby.

PACKARDSFOREVER, your link to VMR Auto Guides is interesting, although you misdirected us to the late model exotic car site. The post-war collector car site is Collector Car Values, Auctions and Profiles at Collector Car Market Reveiw. It took me a while to realize how to drill down to the free valuations but, once in, the information looks good.

For example, CCMR pegs this '54 Packard convertible in a range from $4050 to $56,925. That top end is actually higher than NADA, at $53,700. Hagerty wrongly calls it a Pacific convertible but sets the high point at $56,500, close to the other two sources. So it seems that, if these free online value guides are inaccurate, they are consistently so.

Short of following individual eBay sales religiously, how can one use those selling prices to determine values? Is there a searchable summary of recent sales posted somewhere?

Actually you just go to completed listings on ebay. Look for the green prices, those are the sold ones and it will give you all sales within a couple of months I believe. Be sure to make sure it's not the same car over and over. There are sold cars on ebay that do not sell. On a car like this Packard you may have to add a couple of similar years in styling as very few have been sold or listed. It gives you a good idea.

I scour almost every car section in hemmings monthly so I see what asking prices are and take note as to wether that ad is in there month after month. A good inidication of overpricing. I follow a few other trade magazines the same way. Usually when someone is discussing the value of a car at my shop I can quote them a price I think is a realistic selling price and I'm usually pretty close. That's of course on post 1930 cars. Prior to that I'm in the dark.

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Guest Packardsforever
BEEJAYEM, "worthless" is a bit strong. I think free online buyers guides do provide a comparative reference for arm chair wheeler-dealers like me, who do far more surfing than selling and buying. I've only transacted four cars in the past ten years but I look up values on a weekly basis. It's become part of the hobby.

PACKARDSFOREVER, your link to VMR Auto Guides is interesting, although you misdirected us to the late model exotic car site. The post-war collector car site is Collector Car Values, Auctions and Profiles at Collector Car Market Reveiw. It took me a while to realize how to drill down to the free valuations but, once in, the information looks good.

For example, CCMR pegs this '54 Packard convertible in a range from $4050 to $56,925. That top end is actually higher than NADA, at $53,700. Hagerty wrongly calls it a Pacific convertible but sets the high point at $56,500, close to the other two sources. So it seems that, if these free online value guides are inaccurate, they are consistently so.

Short of following individual eBay sales religiously, how can one use those selling prices to determine values? Is there a searchable summary of recent sales posted somewhere?

Rob,

if you just look in the top right corner of the website link I posted and click on 1946-79 it takes you right to the makes and then your in. A really nice 54 Packard conv. just ended a few days ago on Ebay and only bid up to $16,100. It was nice but in Washington state so that probably hurt it because of location but not $20K worth of hurt.

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