[DML] Re: What's a "poor condition" car worth?

["jedimasterglenn" <jedimasterglenn@xxxxxxxxxxx>]

My oppinion is that $8K is reasonable for a running D with a good frame and good stainless with 70K miles.  I even think it might be a bit low.  Before I started the major restore work on my car, it was probably in a bit better condition than yours, with ~40K miles.  It appraised at that time for $18K.  Granted that's not neccesarily what a buyer would be willing to pay.  

But this oppinion is also coming from the guy whose made the proverbial "buying with his heart" blunder.  My car wasn't even running when I bought it for $10K.  It had dents, needed paint, fuel system work, electrical work, cooling system work, interior work...you name it.  And it's still a work in progress 5 years later.  I take solice in the fact that I've learned about every inch of the car in the process and had fun doing it (most of the time...steering column bushing excluded!).  What this group says about the $20K-$25K rule is absolutely spot on...i.e. regardless of what you buy the car for, that's probably what you'll pay in the end.

Anyway, if you set a higher price, you might get lucky and end up with a buyer like me who is blinded by love and willing to pay.  Also depends upon how quickly you want to move the car.  If you really want to sell it, drop the price to $5K and I'll buy it today!           

-Glenn

--- In dmcnews@xxxxxxxxxxxxxxx, "Pete Cowan" <petecowan@...> wrote:
>
> After 12 years of ownership, I thinking I'm ready to get rid of my DeLorean.
> I the past several years I've been sinking money into other cars and the DMC
> has sadly become a bit neglected.  I don't have the time nor money to
> execute the projects with it that I'd like so I figure I'll let it go to
> someone else and when I'm ready I'll pick up another one I'll start shopping
> again.
> 
>  
> 
> My big question is: how much is a Delorean worth if it's in poor condition?
> You always see people selling the ones that are pristine and completely
> restored but rarely one that needs restoration.  
> 
>  
> 
> '83 #16059, ~70k miles, 5-speed, grey.
> 
>  
> 
> Here's what's wrong (that I know of):
> 
> -Leaking coolant - likely failing head gasket
> 
> -Difficult to shift into 2nd gear
> 
> -Cracked binnacle
> 
> -Worn seats
> 
> -A/C is defunct
> 
> -Brakes need to be rebuilt
> 
> -Doors droop
> 
> -Bonnet pistons are at this point, only cosmetic
> 
> -Louver pistons are missing, latch assembly missing
> 
> -No radio
> 
> -etc... the car is just worn out
> 
>  
> 
> Essentially the car starts and drives and that's about it.  It's recently
> has the fuel pump assembly replaced, no frame rust and the body/panels are
> fine.  I'm thinking $FixingCost + $SellingPrice = ~$20,000, so if it cost
> $12k to make it road worthy and reliable then ~$8k.  Is $8000 appropriate
> for a marginally function DMC?  Too much?  Too little?  
> 
>  
> 
> Thanks,
> 
> --pete
> 
>  
> 
>  
> 
> 
> 
> [Non-text portions of this message have been removed]
>




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