Whats It Worth?

[MotownMadman]

I have a cousin who has contacted me for the first time in years because he was aware of the type of business I am in. He wants to know if I would have an interest in buying his car to keep it in the family. In 1964 he entered and won a contest from a radio station in Detroit, I believe it was CKLW AM, he was the lucky winner of a new 1964 GTO post car, 389 Tri-Power, 4 speed, posi, red with if I remember correctly a black interior. He has always been a street rodder and I cant remember him ever driving anything that wasnt at least 30 years old. The new Goat was of no interest to him, he put it in one of his buildings on blocks, started it a few times a year, drove it a short distance once in a while, never plated it, and as of today has 900 miles on it. The car is like new. All original paperwork including the contest documents. He asked me to make him a fair offer on the car, explaining since I was family he didnt expect top dollar. I told him I would get back in a few days. Ok guys, what would be a fair offer? He is family so I dont want to insult him, yet at the same time I would like the best deal I can get. I am looking for input as to actual market value and what you would consider fair if you were in my position. Ideas guys?
Thanks,
Motown [img]/ubbthreads/images/graemlins/dunno.gif[/img]

[lowmile]

I would offer him 30K. You don't have his number handy do you [img]/ubbthreads/images/graemlins/naughty.gif[/img] [img]/ubbthreads/images/graemlins/grin.gif[/img]

[MosportGreen66]

I would actually offer him a little less because it may take a few bucks to get it going and looking right.

[Keith Tedford]

Was there a magazine article on this car a few years ago? Pontiac diehards might pay more than 30K, especially with such a low mileage car with a neat history.

[DSYenko]

I think the diehards would pay more than 30K also,maybe up to 40K with those documented miles [img]/ubbthreads/images/graemlins/eek.gif[/img]

[olredalert]

Madman,

-------Even before I looked at the 1st post after yours I said 30 big ones to myself.Fluffed and buffed,with its history the car would bring more(marketed correctly).I dont want to get into how much more,but I think the 30 figure would be fair to you both.Wish I had a shot at it!!!!!!!!!!!!!!...........Bill S

[NEW]

I would try to agree upon this car immediatly, you know its a good deal, What a history, and so nice with so low miles!

NEW

[Charley Lillard]

50+

[Stefano]

Was the GTO sold new at Royal Pontiac?

[Bill Pritchard]

Motown,

What an incredible story! That said, I think I'd have to agree with Charley that the car is easily worth 50K given the 'provenance' (as they say on the Antiques Roadshow).

Being a family issue is where things could get sticky. If you intend to keep the car for a long time, then a 30K - 35K offer is not unreasonable. If it's only to keep a relatively short time and resell, then the price depends on what type of relationship you want to maintain with your cousin and/or other family members. If he offers you the car at a below market price with the understanding that you will keep it in the family, and you do otherwise, it may cause hard feelings. Good luck, and keep us posted [img]/ubbthreads/images/graemlins/smile.gif[/img]