For Sale 1957 chrysler new yorker station wagon - $7000
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mpgmike
Member
There are many, MANY posts where I have less than encouraging opinions I could share. Normally I keep them to myself. However, for this post, I vent. Numerous times I have run the math on what a car would be worth in #1 condition (or even #2 condition), what ($) it would take to get it there (even if the owner did most of the work him/herself), and compared that to selling prices. Typically you're better off spending $15k for a #2 car than $1k for a #5 car. In this case, the math is so far out of whack that I just had to chime in. At $7k you can't even sucker in the idiots that never run the math.
commando1
Old Man with a Hat
I've been lecturing EC101 for years here. The classroom is always empty.
KcImperial
Active Member
I would almost always agree with what you said, especially with 60's or 70's C bodies.
There are 2 problems with your theory on this car :
1) where do you suggest going to find a better condition 1957 New Yorker wagon to buy?
2) anything less than $7K doesn't cover the costs of parts here such as decent appearing '57 NY'er front clip, wagon specific parts, and of course the 392. I've personally seen rebuildable 392 cores sell for just less than half of the current asking price of this entire project.
commando1
Old Man with a Hat
I use this argument.
In this example, is it worth $7k or more like $2k? $5k difference, right?
If you plan to do a driveway and garage rehab, what will you spend? An additional $15k? Ok, then that $5K spread is very significant.
Is the buyer going to do a full blown $70k resto? Then that $5K is chump change to a guy like that.
A $10 Cover Charge at a club.
Are you having one beer or are you spending the night there.
In this example, is it worth $7k or more like $2k? $5k difference, right?
If you plan to do a driveway and garage rehab, what will you spend? An additional $15k? Ok, then that $5K spread is very significant.
Is the buyer going to do a full blown $70k resto? Then that $5K is chump change to a guy like that.
A $10 Cover Charge at a club.
Are you having one beer or are you spending the night there.
KcImperial
Active Member
Your scope is too broad for Forwardlook cars. This is an issue of supply and demand. Supply of this type vehicle is almost zero. The demand from someone wanting to do a full restoration is also almost zero. The shift variable is that this could also be a collection of parts which would have a low supply but a higher demand due to interchangeabilities. If someone wants to buy it as an economical restoration project, they will be bidding against parts buyers.
I had similar situations when buying my '58 Imperials. I had to pay a minimum of "$engine + $handful of parts" regardless of condition of overall vehicle or expected restoration expenses.
I had similar situations when buying my '58 Imperials. I had to pay a minimum of "$engine + $handful of parts" regardless of condition of overall vehicle or expected restoration expenses.
commando1
Old Man with a Hat
On cars like these, you have to start out to see what the market will bear, first.
Notice the steering wheel alone on the car is not cracked. $$$
bluefury361
Old Man with a Hat
I see a car worth $7K here. Add the stated 70K for restoration and your close to the real value of the finished product. Could be worth more. I would assume the asking price would be negotiable to a serious buyer. This car has a lot going for it. Low production, it's a wagon, has a hemi, looks complete, no rust and damage. Plus a following of folks who know and appreciate the car for what it is and represents.
One cannot compare values of rare Forward Look cars like this to values of, even rare, C bodys. Apples to grapes. I suspect this car will find a home and a whole lotta love.
"Notice the steering wheel alone on the car is not cracked. $$$".....................
Details like this is what the forward look cars are about.
One cannot compare values of rare Forward Look cars like this to values of, even rare, C bodys. Apples to grapes. I suspect this car will find a home and a whole lotta love.
"Notice the steering wheel alone on the car is not cracked. $$$".....................
Details like this is what the forward look cars are about.
the various views on "what is this thing worth" come up a lot here...and it makes for good discussion. not sure if any of us are a buyer for this car, but IF one of us was I sure would like to know what that person thinks? ;)
Having been a buyer of a different car, where 9 out of 10 people didn't want it/couldn't chin it, I was the one who HAD to have it. Not at any price mind you, but well above what others were willing to pay.
was it above "market" price what I paid? probably an emphatic "yes". after some obligatory negotiation, I still wanted it and I bought it.
On this particular one I guess I came out more where bluefury361 and KcImperial are. someone out there is looking for this car, knows what it is, has the lettuce to do whatever they want with it, on top of all that it means whatever else it means to them "emotionally" etc...and likely thinks the $6K-$7K range works for them.
since i am not a "serious" buyer for it, $7K for it is outside my willingness to pay. that doesn't say anything about what it is really "worth"..just what its "worth" to me.
Having been a buyer of a different car, where 9 out of 10 people didn't want it/couldn't chin it, I was the one who HAD to have it. Not at any price mind you, but well above what others were willing to pay.
was it above "market" price what I paid? probably an emphatic "yes". after some obligatory negotiation, I still wanted it and I bought it.
On this particular one I guess I came out more where bluefury361 and KcImperial are. someone out there is looking for this car, knows what it is, has the lettuce to do whatever they want with it, on top of all that it means whatever else it means to them "emotionally" etc...and likely thinks the $6K-$7K range works for them.
since i am not a "serious" buyer for it, $7K for it is outside my willingness to pay. that doesn't say anything about what it is really "worth"..just what its "worth" to me.
barnfind
Old Man with a Hat
Forward look cars like this example are few and far in between, many start with a rotted out carcass and build from there. This one shows nice metal and a 392. If i were a betting man, id bet this one goes shortly, maybe overseas.
bluefury361
Old Man with a Hat
If I didn't already have my 61 Fury convertible project I'd be looking hard at this wagon.
yellowkeeble
Member
Everything in this world is for sale, it's a matter of negotiating a price.
An object is only worth what someone is willing to pay for it. The work is finding that someone.
It takes more work to sell a vehicle than it does to keep it.
--the tao of Ernie--
An object is only worth what someone is willing to pay for it. The work is finding that someone.
It takes more work to sell a vehicle than it does to keep it.
--the tao of Ernie--
mpgmike
Member
19 years ago my wife & I went searching for a '59 Imperial. Instead we found an incredible 17k original mile garage kept '65 Imperial and bought it. A month ago we found our '59 Imperial. I would have preferred a hardtop over the sedan, but it works. For someone that has exacting requirements, this wagon may be just what they're looking for. Most folks I know end up with a "something close" for "what they can afford" and what they see themselves tackling. I spent hours looking through the pages of cars for sale on this forum (and other places) and finally had to chime in.
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