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Thread: Newbie.....offered a unrestored 56' Mark II...value?

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    Default Newbie.....offered a unrestored 56' Mark II...value?

    I know this is a broad question with many variables......but: I have an older friend with a 56' Mark II who has offered to sell it to me. I constantly kid him about selling it to me. (I really respect & admire these cars.)

    He's finally offered to sell it to me.

    The car is 100% all there with a fairly straight body & no rust through.
    Not currently running, but I believe it would. Sitting inside the same building for at least 20 years.
    It needs a full restoration, but is very complete. Car is white with red/white interior (I think, been a year since I've seen it)

    Can anyone give me a general range of value without detailed pics, VIN, etc.? I want a decent deal but don't want to insult him!

    I'm a car guy and own several other classics..........& he is a car guy too, but 80 years old and realizes he won't restore the car. It's tough for me to assess a value.

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    I am sure you will get a variety of input on this subject. I am certainly not an expert since i have only owned my Mark II for less than a year but I have restored a number of classic cars and I am in the process of restoring my Mark II.

    When you say the car needs a complete restoration, that implies the car needs paint, interior, stainless/chrome, perhaps some glass, as well as mechanical and electrical work. Even if the car is fairly straight and there is no rust through, you can expect that if the car is going to be painted, then significant metal work will be needed as well. My car had absolutely no signs of rust until I removed the rear bumper and found there was a lot of rust (in body, not chassis) near the rear body mounts. The combination of metalwork and paint is very expensive and overwhelms any possible mechanical repairs. The cost of rechroming will also be substantial.

    A car that has been sitting for 20 years will definitely need tires, complete brake overhaul, shocks, exhaust system, fuel system and carburetor overhaul, cooling system work as well as numerous other miscellaneous items that were probably not working or were in poor condition (perhaps the front end, transmission, etc) when the car was stored. Of course, without getting under the car, the chassis condition is also unknown.

    There is a lot of satisfaction in taking a car like you described and doing the restoration. Hopefully, you can do some of the work yourself but making a fair offer on any car without a through inspection is impossible (in my opinion).

    However, strictly from a cost standpoint, usually the rule of thumb is, buy the best car you can afford and start from that point. If you can buy a car where previous owner(s) have already borne most of the cost of the expensive portions of the restoration that you cannot do yourself, you will be far ahead of the game. The key is being sure that prior work was done correctly.

    If you search the forum. you will find a discussion by Walt Johnsen that discusses the costs of a first class Mark II restoration. Walt is an experienced and well known, professional restorer.

    Without a thorough inspection, in my opinion, the only way to assign a value to the car is to try to estimate the value of the car as a parts car. While your friend might be insulted by this approach, I don't see how anyone could ask a given price or bid on the car without knowing the good, the bad, and the really bad of the car.

    Larry
    Larry Durocher
    1956 Mark II C5601429
    1962 RR Silver Cloud II drophead
    2006 Ford F150
    2010 RR Phantom drophead
    2013 Maserati Gran Turismo drophead
    2015 Lincoln MKT

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    rickswrecks (06-24-2017)

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    Quote Originally Posted by lld View Post

    A car that has been sitting for 20 years will definitely need tires, complete brake overhaul, shocks, exhaust system, fuel system and carburetor overhaul, cooling system work as well as numerous other miscellaneous items that were probably not working or were in poor condition (perhaps the front end, transmission, etc) when the car was stored. Of course, without getting under the car, the chassis condition is also unknown.

    There is a lot of satisfaction in taking a car like you described and doing the restoration. Hopefully, you can do some of the work yourself but making a fair offer on any car without a through inspection is impossible (in my opinion).

    However, strictly from a cost standpoint, usually the rule of thumb is, buy the best car you can afford and start from that point. If you can buy a car where previous owner(s) have already borne most of the cost of the expensive portions of the restoration that you cannot do yourself, you will be far ahead of the game. The key is being sure that prior work was done correctly.

    Without a thorough inspection, in my opinion, the only way to assign a value to the car is to try to estimate the value of the car as a parts car. While your friend might be insulted by this approach, I don't see how anyone could ask a given price or bid on the car without knowing the good, the bad, and the really bad of the car.

    Larry
    Larry:
    Very well said. The bottom line is that a parts car with a solid frame and a free turning engine could be worth between $6500 and $13,000. Just to get it running and driving, you could spend $6,000 or more.
    An unrestored car, running and driving, sells in the low $20's ($21,000-$22,000). Good luck. John
    Last edited by jdsnoddy; 06-23-2017 at 10:50 AM.
    John Snoddy

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    Thank you both for your advice. I think I may have a decent price. I will get more information, details & pictures when I go look the car over.

    Owner says the car will run & drive. It's been kept inside for 30 years, untouched.

    I'm excited to get a look at it again!
    Last edited by Notime; 06-24-2017 at 09:08 PM.

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    Start with the frame. Even if it has been indoors forever. No frame, no decent starting point.
    Mark A Maromonte

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    jdsnoddy (06-24-2017)

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    The car is #1275
    Attached Images Attached Images
    Nicholas Thomas

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    rickswrecks (06-25-2017)

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    Car will run
    We poured gas in carb & battery in it and it try's to run, oils clean
    Stored with no water in it because the heater core was leaking

    Really complete car, missing nothing really
    Small patches 4"x4" is the only rust right before rear wheels
    Dings only, no huge body work needed

    Bent/dented rocker panel trim & gas filler door hinge mechanism broken are the only things missing.
    All trim is removed, bagged and saved, all hubcaps present.
    Very original car.......looks like crap because they started stripping it with aircraft stripper!
    Upholstery recovered in vinyl, but done in original style.
    Water pump locked up
    Heater core passenger side leaked
    Blower motors both disassembled
    Bumpers have some dents, but not horrible.
    All glass is present and not even cracked


    Honest opinions?
    Nicholas Thomas

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    $6000 to $8000, if frame is good, and because it looks like all the hub caps are there. Of course, you will have to do almost all the work yourself, or you will be buried in the costs of restoring. I have done one or two of these. lol
    Mark A Maromonte

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  14. #9
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    You may be correct in stating that the only rust is the 4"x4" patch by the rear wheels. Unfortunately, until you get under the car, remove all the trim and bumpers, etc, you won't know. I had a pre-purchase inspection by a body shop which found no visible rust on my Mark II and they had the car on a lift as well. However, after correcting some mechanical issues, I removed the rear bumpers and a large amount of rust and poor, prior body work was very visible. At this point, the restoration body shop (not the shop the did the inspection) has about 120 man-hours into fixing just the rust on the body panels near the rear bumper/taillights and at the rear body mounts.

    While I have removed all the bumpers and most of the trim, I still haven't removed the trim around the rear window and the front windshield so there might be other rust issues to be discovered. A rust free 60+ year old car is fairly unusual.

    I agree with Mark's comments and estimates. Read Walt Johnsen's comments on restoration costs and you will see that unless you can do most of the work, you will be heavily underwater in terms of cost versus market value. I did all the mechanical work myself on a car that was appraised as "excellent" (good interior, good chrome, good body, very complete and original, etc) and I am going to be heavily underwater.

    Larry
    Last edited by lld; 06-25-2017 at 08:13 PM.
    Larry Durocher
    1956 Mark II C5601429
    1962 RR Silver Cloud II drophead
    2006 Ford F150
    2010 RR Phantom drophead
    2013 Maserati Gran Turismo drophead
    2015 Lincoln MKT

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    The car was sold new in San Diego.......lived a while in Arizona , then El Paso.........then inside a barn in Texas for 30 years.

    I plan to get it up on Jack stands before making a purchase.

    Do you have any specific pictures of the rear bumper area that commonly rusts out?

    My goal when finished is a #3 car........I wanna drive it and share it. It need not be absolutely perfect for me. I just want to make the Best educated Buy that I can.

    Thanks for all the inputs!
    Nicholas Thomas

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