At 02:31 AM 5/12/98 EDT, Godly Krew wrote:
>the rust on VIN 1758 looks pretty bad...
>
>I'm really confused now that John gave me the $750-1,500 figure....
>I THINK I GOT RIPPED OFF!!!!!!!
>I paid $6950 for the car, $650 for tax/licence at the DMV, $1100 for a
>new cooling system (re-cored radiator, all new hoses).
Riley,
I guess we both miss understood each other. I was assuming that the
chassis is really shot. Which means having to do a frame up restoration.
As I also said, I think you'll find that the chassis isn't in as bad
of shape as you might think. My chassis was eaten up pretty badly, and
I've had to replace a lot of the metal under the car. Also ther are
no absolutes. You can always ask more than what you think it is going
to bring.
The more that is wrong with a car, the less it is worth. A driver is
worth from around $6,000. But then you start looking at things that are
worng with it and deducting, also look at things that are right and add.
>I'm really starting to get steamed about how much money my parents and
>I have been spending to get ripped off, which is not limited to the
>bricklin. If my car is only worth $1,500, then I need to know which
>appraiser would accurately give a value to my bricklin. From there, it
>looks like I'll have to take the guys who sold me the car to court for
>selling a $1,500 car for $6950. If only I knew where to start....
Trying to set an absolute value on a car is almost impossible without
seeing the car. If the chassis is in the shape I think it is - which
is better than you suggested - then the car is worth in the neighbor
hood of $6,000 plus/minus.
Riley, most of us that own these car, own them because they are unique.
If you are purchasing almost any car to "make money" most of the time
you will loose.
With all the cars I've owned, I can honestly say I've only made money
or broke even on 2 cars:
1. I bought a 55 Chevy, back in 70 when I was in the Navy for $350.
I drove that car for 4 year, put a $85 eng in it and some free doors
on it. Sold it for $375.
2. My Morgan. I paid $1,300 for it in 69. It is now appraised at about
$24,000. However, I now have over $8,000 in parts for the restoration
and over 1741 hours. If you don't count the labor, I've made money,
if you do, then I'm out about $20,000.
John
John T. Blair WA4OHZ email: jblair@exis.net
Va. Beach, Va Phone: (757) 495-8229
48 TR1800 65 Morgan 4/4 Series V
71 Saab Sonett III 75 Bricklin SV1 77 Spitfire
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