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So what's a 1932 Packard like this really worth??


auburnseeker

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I can't help myself and search craigslist way too much.  I just ran across this.  My gut instinct would be 30,000 would be the realistic true money changing hands selling price.  That's without looking in a price guide or doing searches to see what they have sold for.  

 

http://syracuse.craigslist.org/cto/5123417105.html

 

Still a neat car that would be fun to own and revive.

Here are a couple photo just in case the ad gets flagged.  Seems maybe someone told him in the past it was overpriced.

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It's a 1932 Packard Model 900 Light 8. It is an AACA Full Classic. Interior appears original with added Pep Boys seat covers. I would agree $25Kor a bit less. Now if it were a convertible (we have 3 in the shop right now and I personally own one) you are looking at over $100K in fully restored condition.

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Junior Packard is like the Model 43 Pierce,  everything is relative.  I was only making that point as it pertains to value.  I have always liked the shovel nose as it seems very attractive.   The 3 window Standard 8 Coupe on eBay right now for 26k seems like it would be a much better bet.

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If you're looking for a project packard in the 32 to 34 range I believe tom laferriere has a few on hand right now including a coupe.

Interested in restorers comment as I thought aaca had updated their Classic classification if you will, to mirror CCCA.

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Steve is correct.  Tom has some interesting Packard 31-34 projects for sale.  All tough to have professionally restored but perhaps a way for the home restore to get into a car they might not otherwise be able to afford.

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Aggressive negotiations with Tom will get you a lifetime supply of cool logo t shirts, if that helps!

Restorer I was not sure what you initially meant regarding your Classic comments, only because I thought at one time aaca kept their own list, but I don't know the history on that.

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$100 K is pie in the sky. Seller hoping to find an uneducated buyer , Guess what, I may well have been interested but his preposterous asking price has scared me away ! At 25K I likely would have made the trip. Wayne

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I did e-mail the seller and try to educate him a bit as to what the car actually is and what he could realistically expect to get for it. He advertises it as a Standard 8, which it ain't. We sold an amateurishly restored sedan several years ago for $17k so I think $25K is probably tops for this one. I would love to have it but I have more cars than I need now.

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He's painted himself into a corner because the people who would actually want that car already know his price is nuts, and the guys he's hoping will be stupid enough to think that's the right price, well, they aren't stupid enough. Hell, even a cursory glance at any of the half-dozen price guides online would tell him his decimal point is in the wrong place...

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Yes, a very nice car but as mentioned pie in the sky pricing.


 


I guess I have to respond to the comparison to the Model 43 Pierce Arrow, since I own one...yes, it's the small Pierce, straight eight with only 365 cubic inches and a shorter wheelbase, and the only Pierce 8 to use a timing gear and not a timing chain. 


 


Such a sad little car next to the Models 41 and 42 (yes, I'm being safe safetious, as my kids would say!).  So, I'll post a picture of the poor car, just so it doesn't feel left out...


 


Nice car, I agree with the value in the 20's.....and I bet before it's over with the dreamer owner will get there.....


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When I mentioned 4 door sedans,  I meant standard production cars,  Nothing custom bodied or one of 2 or 3 of course the Duessy would be, but the point a standard production car in a normal selling arena in the condition this car is in. .  That's a whole different class. 

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Of course I agree.  But there are a few 4 door sedans that bring money.  The 20 Grande will probably set a worlds record some day.

 

I love the gray/red on your Pierce.  The only thing that would make it perfect would be swapping the tires :).

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I find it interesting that this ad, and virtually every other ad of its type I've seen, make reference to "Serious" collectors. It is as if, in becoming a "serious collector" you take leave of your senses. I've spent my entire adult life in the company of collectors, most of whom could certainly be considered serious (mostly 17th, 18th and early 19th century arms & armor but I've a few friends that collect things like medieval swords and Viking era relics). Absolutely none of these collectors is unaware of what the current market is in his particular specialty. What this seller wants — what they all want — is the exact opposite of a serious collector. They need a buyer who knows almost nothing about the subject. Its probably childish of me, but I find the notion that if you are serious you must be a financial nincompoop to be mildly offensive... or it would be if it wasn't ridiculous.

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I can picture seller's reaction to our commentary above. After all, pricing and ad were carefully considered over several cold ones, while watching re-runs of Chasing Classic Cars - consider:

Absolutely no clean up should be done - just like the Pierce Arrow that went to auction complete with dust (a common comment on the show, which is a great show, just my observation) as "collectors sometimes want the dust and dirt with a..."barnfind" barnfind craze - covered.

Oh wait, I should show how it has received extensive TLC over the years hence the comment "rolled out of the garage every FEW years to check the brakes". Well maintained - covered.

Oh, I heard venue is important to reach the right audience - Craiglist, of course. Ah, here come the hot rodders - market for a stone stock CCCA eligibile Packard sedan project - covered.

Another cold one down and the price seemd perfectly logical....

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Guest BillP

I paused at the "check the brakes" phrase, too. What do you check? These are mechanical brakes; generally if they worked ten years ago, they work today.

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Yeah, I bet he is probably just a decent fellow who inherited a car he is never going to get around to doing anything with, but he should do some research prior to selling. Serious buyers may write off the car due to his price, which could just make it harder to sell down the road. Some interesting comments on inherited things in the latest edition of the antique automobile, sellers really should do some research to know at least approximate value on items they are looking to move.

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I frequently deal with estates and 9 times out of 10 (more like 99 times out of 100), the family has no idea what the inherited cars are worth other than "A LOT!"

 

In most cases, they've watched their family member with his old cars from afar and really have no direct involvement with either the family member or the cars. When the time comes, they're often eager to sell because they think they've inherited the Mother Lode, and they just start picking numbers out of thin air thinking old = valuable. I recall one lot we were asked to appraise and perhaps purchase. It consisted of a 1919 Model T touring that had been restored in the 1970s then parked in a leaking, unheated barn for 40 years, a Shay Model A pickup truck replica, and something else that was so unremarkable I can't even remember what it was--maybe a 1970s Mustang II. The family members who showed us this "treasure trove" of cars rotting in a barn that was about to fall down were already buzzing about vacations, new motorcycles, college funds, and stuff like that, as if they'd hit the lottery. I told them the whole lot was worth less than $20,000 and I didn't particularly want any of it. The told me I didn't know what I was talking about, probably because someone, at some point, had suggested that it was a valuable, exciting discovery for "serious collectors," or they saw a TV show where a truly valuable car comes out of a barn and turns into a million dollars.

 

I don't know what happened after that, but I haven't seen the cars turn up elsewhere--I suspect they're still shopping for an "expert" who will tell them what they want to hear so they can join the 1%.

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Thanks to AuburnSeeker for starting this topic. I learn so much from you folks that it's hard to say "Thank You" enough. I too, think that shovel nose front end looks attractive, and David (TrimaCar), your Pierce is a very attractive automobile and I also like the colors AND the tires! Hoping everyone is staying cool and hydrated in the heat of Summer.

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Here's another example for 30 grand less.  No bidders, and this car appears to be in better shape than the Packard.  I'd give my eye teeth to have either car but these prices are unrealistic.

 

http://www.ebay.com/itm/19310000-Other-Makes-Marmon-Model-88-/111714064934?viewitem=&item=111714064934&forcerRptr=true&nma=true&si=iJgajQZSWvcbtNOwROmQON6taEU%253D&orig_cvip=true&rt=nc&_trksid=p2047675.l2557

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I will tell you what to do if you really want that car. Go and look at it, inspect carefully, and make up your mind what you think it is really worth. Do nothing but compliment the car, the owner, his wife, kids, etc. Be as nice as you can stand to be. Tell him his price is a little high, and offer him about twice what it is worth.

 

When he turns you down, don't argue. Leave your card, or your name and phone number and what it is about (wants to buy Packard) and go home.

 

If he calls, which he might if he doesn't get any better offers (fat chance) tell him you are sorry as can be, but since you saw him you bought another car and don't have much money. If he still wants to sell, negotiate the price down to a reasonable figure.

 

Sometimes it works. You never know your luck.

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If I wanted to buy the car I would give him my "best and final" offer in writing with the offer good for 30 days, cash settlement when I pick up the car. I would emphasize that I would not negotiate further and after the 30 days I would not be interested at any price. We don't buy nor sell cars but this technique has worked well for several of our customers. Make a fair offer and let the seller make up his mind.

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I will tell you what to do if you really want that car. Go and look at it, inspect carefully, and make up your mind what you think it is really worth. Do nothing but compliment the car, the owner, his wife, kids, etc. Be as nice as you can stand to be. Tell him his price is a little high, and offer him about twice what it is worth.

 

When he turns you down, don't argue. Leave your card, or your name and phone number and what it is about (wants to buy Packard) and go home.

 

If he calls, which he might if he doesn't get any better offers (fat chance) tell him you are sorry as can be, but since you saw him you bought another car and don't have much money. If he still wants to sell, negotiate the price down to a reasonable figure.

 

Sometimes it works. You never know your luck.

 

evilest.gif

 

I'm totally going to use that, Rusty.

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What if he shocks you and accepts your offer of twice the value?

Just tell him you have to check with the wife first but if she Ok's it you'll be back with the cash.   That should take care of it. ;)

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I am in a similar situation with what is for practical purposes a parts car {it would be a very ambitious restoration in it's current state}. Its a quite rare car that would be a good match with one I already have, between the two you would have the basis of a viable restoration. The car was for sale about 4 years ago for about what it was worth. It was a fair distance away and I had to line up transport, days off etc. to make sure things would work.  In the mean time the car sold and the new owner put it up for sale at once for very nearly tripple as much as he paid for it. "Price firm" is stated in the ad at least twice. As well as far as I can tell the add is listed by a broker , who when contacted doesn't want to contact the owner with anything less than a full price customer.

 It's a rare car , I have been looking for a long time. I missed a few over the last several years for a lot less but these days most when sold go to Europe. This is the only one I have encountered in the "parts car" category for the last 3 years or so, but is obviously overpriced as it is still on the market. {no one in Europe is willing to pay his price either}. This problem has been one where patience has not been a virtue, typical prices have risen about 500% over the last 5 years. And the pool of potential cars grows smaller each year as 2 or 3 more find new owners overseas.  Frustrating, but what else is one to do ? I am not going to pay 20% or more of a finished product price for the stripped shell of a parts car regardless of how rare it is.

 

Greg in Canada

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I somewhat disagree with the 30 day offer deal.

If I make an offer on a car, it's a standing offer, as long as I'm standing, right then, in front of the seller.

My first Classic, a '34 Pierce, was bought this way. Seller, in his apartment, I made an offer 20% or so below his somewhat reasonable price. He asked me how long the offer was good for, I told him until I walked out the apartment door. He said no to the offer.

I thanked him for his time, and walked to door. As I touched the door knob, he said "wait", and a few minutes later I owned the car at the offer.

But, you have to be willing to walk away.....

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A wise man told me once that in any negotiation you have to be willing to walk away.   I have fallen prey too many times to "I have to have it" syndrome.  The best deals are when you really don't want something.

 

Btw Dave,  nice article in the Pierce magazine on the leather patches.

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