# New Member need opinion on value for a 1967 GTO convertible that I may purchase sitting since 1979



## rick madison (Sep 18, 2020)

Hello everyone, I have a opportunity to purchase my fathers friends GTO. He is the original owner and parked the car in 1979. I looked at it for the first time yesterday. It is red with a black top and black interior. 400 WT motor,670 heads, 3 speed manual, power steering and top, manual drum brakes, bench seat, no tach but has a clock. The car has rally 1 rims with wide oval tires that are shot. Exhaust is rusted, and currently no brakes. Car is 100% original as far as motor, trans and rear end. Top and interior are in excellent condition. Body has the original paint with the only rust issues being the lip of the trunk lid that has not gone through yet and the drivers side lower quarter where the trim would be behind the tire. Motor does spin by hand so its not seized. Have been out of the car loop for over 20 years and he is asking me to shoot him a offer so I am trying to figure out a fair offer to give him so I figured this would be the best place to find that info. I have been chasing this car for 30 years and he is giving me first dibs on the car. Any opinions and suggestions are greatly appreciated. Thanks again!


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## 1969GPSJ (Feb 26, 2020)

Rick 
I love the 67 front end & tail ,looks like a nice car to start , maybe check Hagerty for value and use the tool to determine where the car falls for valuation ,not sure which power plant you have 
Good luck


Hagerty Valuation Tool®


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## Jerry H. (Mar 19, 2020)

It's according to what you plan on doing with the car and how bad you want it. $15-20k at the most is my guess.


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## BLK69JUDGE (Jun 10, 2010)

I m right there with Jerry .... original WT 3 speed w original shifter bench seat good color combo
not that many left around with original drive train ...
do a little body work ,,, spot paint ,,, and drive and enjoy ...
any thing you buy will probably need tires n brakes and a clutch anyways ,,,,
make it dependable and drive it ,,,


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## GTOJUNIOR (Aug 7, 2011)

Very Cool and Sad to see all in one shot. 
My first question would be why it was "Parked" and why no one has done anything with it since 1979.

Take a deep breath, wipe your eyes, and remember 1967 was a banner year for sales and there are many many offerings on the web that you can use to get a base on value.
It looks like a good base but if the owner has an unrealistic sentimental attachment this might be another case of unrealistic conceived value. 
If possible I would suggest taking another very close look AT, IN, and All around it. Then try to get them to give you a number rather than play the fishing game. 

I find that Bench seat with Floor Shift Cool as hell.
The '67 below is a Bench-Seat with Column Shift AT that I help maintain for a very close friend.
She loves this car and knows its value isn't as great as it was 15/20 years ago.
Best of luck and keep us posted.
Cheers


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## rick madison (Sep 18, 2020)

Jerry H. said:


> It's according to what you plan on doing with the car and how bad you want it. $15-20k at the most is my guess.


Thanks for your reply. I was thinking the same just didn’t want to offend him.


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## NOS Only (Nov 14, 2017)

But.... Does it have a frame? Concrete garage floors have been known to take out everything on the underside of a car and you have already mentioned the exhaust system is gone.


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## rick madison (Sep 18, 2020)

NOS Only said:


> But.... Does it have a frame? Concrete garage floors have been known to take out everything on the underside of a car and you have already mentioned the exhaust system is gone.


Frame and floors are spotless. Car was under coated after he purchased it.


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## Researcher (Jun 29, 2020)

Id say a little higher $18k-$23k. Anywhere in there id consider the car well bought. Like you said youve been after it for 30 years and are you not gonna buy if he wants $25k and you only wanna pay $20k. If you want to flip it you have to be price conscious but if you want it, you can stretch a little more.


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## rick madison (Sep 18, 2020)

Researcher said:


> Id say a little higher $18k-$23k. Anywhere in there id consider the car well bought. Like you said youve been after it for 30 years and are you not gonna buy if he wants $25k and you only wanna pay $20k. If you want to flip it you have to be price conscious but if you want it, you can stretch a little more.


Plan on keeping it. Thanks for your info


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## Mine'sa66 (Oct 30, 2019)

You know it's provenance which is great for you. Are you able to get concrete documentation that you'll be the second owner and a paper trail of where it's been?
As everybody here knows the real value is the originality of it. Down the line when you sell it or pass it on what's going to differentiate it from the others that documentation.
All of it makes a big difference. A picture the day it came home. Family photos over the years with the car in them. All sounds kind of trivial, but that's the little stuff that makes it stand apart.


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## pontrc (Mar 18, 2020)

Spend your money on a nice vacation, old cars are just a money pit and headaches👍


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## nick rice (Nov 10, 2014)

Since you know the gentleman I'd suggest just talking to see his thoughts, not saying to play dumb but you have to start out as low as possible. I wouldn't really make it sound like an offer but nothings wrong with mentioning in your own way a number like 12 or 13 and go from there. Up to 20k sounds more realistic in the end. You could end up putting another 15 to 20 in it.. Figure what it's worth done and know that usually you'll spend more than you think being you haven't heard or know how it even runs. Sitting forty years is a long time. I'd at least plan on pulling the motor for a rebuild and cleaning the hole while its out. Good Luck. I hope you get her.

Sent from my SM-G970U using Tapatalk


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## rick madison (Sep 18, 2020)

GTOJUNIOR said:


> Very Cool and Sad to see all in one shot.
> My first question would be why it was "Parked" and why no one has done anything with it since 1979.
> 
> Take a deep breath, wipe your eyes, and remember 1967 was a banner year for sales and there are many many offerings on the web that you can use to get a base on value.
> ...


Thanks for the reply. The car was parked because of kids etc and he is a hoarder so the car was actually buried by boxes. I remember being around the garage in the early 80’s and you could only see part of the quarter panel. The other day was actually the first time that I looked at it even though I have known about it for so long. I think he is realizing that he is his 70’s now and nothing is ever going to happen with it unless he sells it as he doesn’t have the funds to get it going. I am fortunate that he reached out to me first as I have been asking about it for so long. I am the only person that he has shown the car to so I will be careful to give him a fair offer for the car.


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## rick madison (Sep 18, 2020)

nick rice said:


> Since you know the gentleman I'd suggest just talking to see his thoughts, not saying to play dumb but you have to start out as low as possible. I wouldn't really make it sound like an offer but nothings wrong with mentioning in your own way a number like 12 or 13 and go from there. Up to 20k sounds more realistic in the end. You could end up putting another 15 to 20 in it.. Figure what it's worth done and know that usually you'll spend more than you think being you haven't heard or know how it even runs. Sitting forty years is a long time. I'd at least plan on pulling the motor for a rebuild and cleaning the hole while its out. Good Luck. I hope you get her.
> 
> Sent from my SM-G970U using Tapatalk


Thanks Nick


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## rick madison (Sep 18, 2020)

Mine'sa66 said:


> You know it's provenance which is great for you. Are you able to get concrete documentation that you'll be the second owner and a paper trail of where it's been?
> As everybody here knows the real value is the originality of it. Down the line when you sell it or pass it on what's going to differentiate it from the others that documentation.
> All of it makes a big difference. A picture the day it came home. Family photos over the years with the car in them. All sounds kind of trivial, but that's the little stuff that makes it stand apart.


He does have all of the paperwork for the car. He even has pictures of my grandmother that I never met in the car when she was visiting from overseas in the early 70’s. My father has always told me about the car and luckily I have the opportunity to purchase it now. Just trying to make sure that I don’t offend him with my offer.


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## NOS Only (Nov 14, 2017)

rick madison said:


> He does have all of the paperwork for the car. He even has pictures of my grandmother that I never met in the car when she was visiting from overseas in the early 70’s. My father has always told me about the car and luckily I have the opportunity to purchase it now. Just trying to make sure that I don’t offend him with my offer.


Choose your offer wisely. Old people get educated quickly, especially with internet access.

Back in the 90's I found a 100% original 1921 Harley factory flat track racer sitting in a garage owned by an 74 year old guy. Without going into the whole long drawn out story, it started out where the guy would let it go for a new Harley (about $20k at the time) so I turned a buddy of mine on it who offered him a new bike. The old guy thought about it and figured his wife wouldn't like that idea so my buddy offered him $20k cash. The old guy said he needed time to think and my buddy automatically bumped his offer to $30k cash. Huge mistake. The old guy spent the next 3 months calling all the experts across the country.

The bottom line.... The old guy ended up with cash and a new 4 wheeler for a grand total of approximately $87,000.00. A far cry from his original $20,000.00


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## PontiacJim (Dec 29, 2012)

rick madison said:


> He does have all of the paperwork for the car. He even has pictures of my grandmother that I never met in the car when she was visiting from overseas in the early 70’s. My father has always told me about the car and luckily I have the opportunity to purchase it now. Just trying to make sure that I don’t offend him with my offer.



Since he is a "hoarder," my guess is that it will take a high number to get it from him. He's had it this long, and giving it up will be difficult for him.

I would put together a plan of action - what you intend to do with the car once in your possession. Let him know your goal is to keep the car original and not hot rod it and get the car back on the road and driving, which means a complete brake job and replace all parts as needed to make the car safe. Go through the front end and replace/rebuild items as needed. Pull the engine and have a machine shop inspect and give you an evaluation of the internals and what may need rebuilding or replacing. New exhaust. New tires, etc..

Don't think you are just going to wax the car, do a minimal and as needed repairs, and put fresh gas in the tank and drive away. Pontiac's are not Chevy's or Ford's so they are more expensive to rebuild/repair. What money you invest, especially a convertible, you will most likely get back if you sold the car.

I can easily see the car worth $18K - $19K which I think is a fair price with the above plan to bring the car back to a safe and driveable car that can be driven and shown. However, many people read the internet prices and feel that their car is worth gold, but don't realize the amount of money and labor that will go into their car to bring it back to a nice driving condition. So I would not go any lower than 18K and that may even offend the guy. Offer him 12K-13K and he may chase you out at the end of a gun.

He may also be playing you to get a price of its worth and then advertise it for much higher knowing you are his ace in the hole if it doesn't sell and people offer him a much lower price.

All you can do is hit him with a plan and then throw out your best first offer and see what happens.


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## rick madison (Sep 18, 2020)

PontiacJim said:


> Since he is a "hoarder," my guess is that it will take a high number to get it from him. He's had it this long, and giving it up will be difficult for him.
> 
> I would put together a plan of action - what you intend to do with the car once in your possession. Let him know your goal is to keep the car original and not hot rod it and get the car back on the road and driving, which means a complete brake job and replace all parts as needed to make the car safe. Go through the front end and replace/rebuild items as needed. Pull the engine and have a machine shop inspect and give you an evaluation of the internals and what may need rebuilding or replacing. New exhaust. New tires, etc..
> 
> ...


I did tell him and it is true that my goal is to have a running driving survivor. He does know that I am mechanically inclined and can have it running in no time. I am just hoping that he will be satisfied with it back out running again.


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## rick madison (Sep 18, 2020)

rick madison said:


> I did tell him and it is true that my goal is to have a running driving survivor. He does know that I am mechanically inclined and can have it running in no time. I am just hoping that he will be satisfied with it back out running again.


I have always wanted this car but I am at the age now that I do know if it going to be worth my time and money. I am not a sentimental guy so I am trying to play this one right and don’t want to make a stupid decision.


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## rick madison (Sep 18, 2020)

NOS Only said:


> Choose your offer wisely. Old people get educated quickly, especially with internet access.
> 
> Back in the 90's I found a 100% original 1921 Harley factory flat track racer sitting in a garage owned by an 74 year old guy. Without going into the whole long drawn out story, it started out where the guy would let it go for a new Harley (about $20k at the time) so I turned a buddy of mine on it who offered him a new bike. The old guy thought about it and figured his wife wouldn't like that idea so my buddy offered him $20k cash. The old guy said he needed time to think and my buddy automatically bumped his offer to $30k cash. Huge mistake. The old guy spent the next 3 months calling all the experts across the country.
> 
> The bottom line.... The old guy ended up with cash and a new 4 wheeler for a grand total of approximately $87,000.00. A far cry from his original $20,000.00


Well said. I’ll take take that into consideration. Thanks


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## Mine'sa66 (Oct 30, 2019)

rick madison said:


> I have always wanted this car but I am at the age now that I do know if it going to be worth my time and money. I am not a sentimental guy so I am trying to play this one right and don’t want to make a stupid decision.


It's good that you are thinking it through. When you say you've always wanted this car, but you're not sentimental about it, I'm taking that to mean...when you say "this car" you mean a 1967 GTO, not _that_ _particular_ 67 GTO?
The general rule of thumb is that you're going to spend more to restore a car than what you would spend to go out and buy one that someone else restored.
The upside of you doing it is you get to make it how you want and you know how it was done.
Down side is as I mentioned, the money, time and effort.
If you're not attracted to buying this car because of it's family connection, then maybe you should shop around a bit and see what you can get in the market for your money.
If you buy this for 20k, you've probably got at the very least another 20k going into it.
40k in hand buys you some nice GTOs.


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## rick madison (Sep 18, 2020)

Mine'sa66 said:


> It's good that you are thinking it through. When you say you've always wanted this car, but you're not sentimental about it, I'm taking that to mean...when you say "this car" you mean a 1967 GTO, not _that_ _particular_ 67 GTO?
> The general rule of thumb is that you're going to spend more to restore a car than what you would spend to go out and buy one that someone else restored.
> The upside of you doing it is you get to make it how you want and you know how it was done.
> Down side is as I mentioned, the money, time and effort.
> ...


This is the car that I have always been after but I am not dying to have it. I have restored cars in the past but if I pick this one up I think I am just going to go through the mechanicals and leave the body and interior alone. Problem that I had before is I would restore cars and it would sit because I was always afraid of scratching or putting a flaw in them. My wife thinks I should get it and make it mechanically sound and enjoy it so I think that is going to be my plan. She knows if it has flaws I’ll drive it.


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## Mine'sa66 (Oct 30, 2019)

rick madison said:


> This is the car that I have always been after but I am not dying to have it. I have restored cars in the past but if I pick this one up I think I am just going to go through the mechanicals and leave the body and interior alone. Problem that I had before is I would restore cars and it would sit because I was always afraid of scratching or putting a flaw in them. My wife thinks I should get it and make it mechanically sound and enjoy it so I think that is going to be my plan. She knows if it has flaws I’ll drive it.


Sounds like a good plan. That's exactly why I bought the one I did. Not original so when I make changes I'm not killing a survivor. Not perfect so I drive it.
Let us know how it goes!


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## michaelfind (Dec 14, 2018)

I got mine in 1987 and immediately started changing things. If I could go back in time and stop myself, I would. But, at this point, I change it how I like and enjoy it. Everyone asks me, are you going to get it repainted? Apparently, it must look pretty dull. I tell them, nope, because then I would be scared to drive it anywhere.


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## Dryerb (Oct 12, 2019)

are you buying the car to have the car or are you buying it for sentimental reasons?

I have a 1967 gto (was my fathers) that I am
willing to part with to the right owner (and right price of course)


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## EdGorman (Mar 26, 2020)

rick madison said:


> Hello everyone, I have a opportunity to purchase my fathers friends GTO. He is the original owner and parked the car in 1979. I looked at it for the first time yesterday. It is red with a black top and black interior. 400 WT motor,670 heads, 3 speed manual, power steering and top, manual drum brakes, bench seat, no tach but has a clock. The car has rally 1 rims with wide oval tires that are shot. Exhaust is rusted, and currently no brakes. Car is 100% original as far as motor, trans and rear end. Top and interior are in excellent condition. Body has the original paint with the only rust issues being the lip of the trunk lid that has not gone through yet and the drivers side lower quarter where the trim would be behind the tire. Motor does spin by hand so its not seized. Have been out of the car loop for over 20 years and he is asking me to shoot him a offer so I am trying to figure out a fair offer to give him so I figured this would be the best place to find that info. I have been chasing this car for 30 years and he is giving me first dibs on the car. Any opinions and suggestions are greatly appreciated. Thanks again!


I paid 12k for mine in 1998 and it wasn't in that nice shape. All you can do is ask, and see what the counter offer is. Just remember. If you are going to do a full resto, It won't be cheap no matter what you pay for the car. I have a total of about 80k in mine now, and did most of the work


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## EdGorman (Mar 26, 2020)

I paid 12k for mine in 1998 and it was in worst shape. Keep in mind...How far do you want to go with the resto. My car has over 80k into it now, and I did most of the work myself. (I am not done yet) You don't have to go crazy with it, but you need to create a budget for the end result. How bad do you want it? Is it the color scheme you want? Do you want to just fix and drive it? Maybe a little body and paint. Are you a perfectionist like me which will dive the living hell out of the cost, which at that point, I guess it don't matter what you pay for the car. btw how many of the cylinders have mice living in them? Any Rat turds falling out of the car?


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## rick madison (Sep 18, 2020)

Dryerb said:


> are you buying the car to have the car or are you buying it for sentimental reasons?
> 
> I have a 1967 gto (was my fathers) that I am
> willing to part with to the right owner (and right price of course)


Ithe car would be for me to drive. Not sentimental about it.


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## rick madison (Sep 18, 2020)

EdGorman said:


> I paid 12k for mine in 1998 and it was in worst shape. Keep in mind...How far do you want to go with the resto. My car has over 80k into it now, and I did most of the work myself. (I am not done yet) You don't have to go crazy with it, but you need to create a budget for the end result. How bad do you want it? Is it the color scheme you want? Do you want to just fix and drive it? Maybe a little body and paint. Are you a perfectionist like me which will dive the living hell out of the cost, which at that point, I guess it don't matter what you pay for the car. btw how many of the cylinders have mice living in them? Any Rat turds falling out of the car?


I was a perfectionist with cars but this one I would just drive as is because it looks ok and it’s still all original. Surprisingly no rodents anywhere


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## rick madison (Sep 18, 2020)

michaelfind said:


> I got mine in 1987 and immediately started changing things. If I could go back in time and stop myself, I would. But, at this point, I change it how I like and enjoy it. Everyone asks me, are you going to get it repainted? Apparently, it must look pretty dull. I tell them, nope, because then I would be scared to drive it anywhere.


 If I do pick up this car my plan is to leave the paint interior and top original. Just going to go through the mechanicals and make it safe and a reliable driver.


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## EdGorman (Mar 26, 2020)

rick madison said:


> I was a perfectionist with cars but this one I would just drive as is because it looks ok and it’s still all original. Surprisingly no rodents anywhere


If it runs and drives, I wouldn't have any issues paying 15k. Replace hoses, tires and such, but it does look pretty decent for sitting so long


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