There's also a regional factor. In our part of the country drivable trucks are probably worth more than one in comparable condition out west, but a truck in pieces has almost no value if you try to sell it as is. Reason... there are a lot of people in this area with discretionary funds that would buy a nice running truck, but very few people around here inclined to build one.
Using Fla54's specs, his $2k driver vehicle would sell for 3 to 4x that price in the Triangle, Triad or Charlotte area.
If you are looking for a value for insurance, go high.
