The Stovebolt Site Forums The Shop Area General Truck Talk Got an offer on my truck yesterday

I have a 1952 GMC 3/4 ton pickup. It is a faded red color. It's not all original. It had an amateur restoration. I would consider the quality of the resto as somewhat poor, but I bought it because it was completely rust free. The motor's not original, in fact it has a 350 in it. And the 350 is tired and needs a rebuild. But it's a fabulous truck to drive and very fun; we all love it.

This guy at work offered me $4000 for it. I turned it down. He even came back and questioned my decision, saying that was an extremely fair price, considering the rough condition of the truck. Well, I looked it up on NADA's website, and he wasn't far off the mark. It shows a low retail value of $5000, so that offer was almost correct.

I went home thinking, shoot, I need to do some work on that old truck. If I even give it a 20-footer paint job and rebuild the motor so it runs better, that alone would boost the value to $13,600; so it's money very well invested. I don't think I'll ever have the truck on the high end of retail value...not unless I swapped back in an original motor and made every attempt at taking it back to factory.

No questions. I just wanted to open a topic for discussion. Tell me what you think, your feelings on resto versus restification. Or even if you like my truck or think it's garbage... I don't mind.
If you want to see my truck, here's a link...

http://i664.photobucket.com/albums/vv9/axeimen/TonyTruck.jpg

Thats a good lookinng truck.. I myself would just keep it. I have come out of the store manny time to find cards on the window and people waiting to ask if I would sell It. Makes owning just a little funner.

I'd be very cautious of trusting a price guide in todays economy as to what a vehicle is worth. I'd do some looking at vehicles for sale, maybe even call a few of them and ask what the response has been and explain that I'm just trying to get a real world market value of a vehicle. I've learned over the years that the true value of something is what another person is willing to pay. Don

Offer seems low to me ?. Only issue with fixing her up is when to stop. With paint work comes body work, both of which can turn into major $$. Same with motor work - once it's out hard not to add a few " bells & whistles ". Once shes all painted up needs new wheels & tire *G*
But...on the plus side, even if you put 10k into it, you will have a great looking, rare, & reliable daily driver. Just look at what new, bare bones pickups sell for these days.

Being the owner is where the value is. It's the thumbs up and the little kids squealing "Look at the truck, Daddy". It's the senior citizens reminiscing about the good old days when they had one just like it, even though theirs wasn't really anything like my fully custom creation.

$4,000 is a lot of money in this economy, but it's not worth anything once it's spent. I would keep the truck unless you are strapped to pay your mortgage or something.

I agree with Grandpas - you have a nice looking truck! I think $4k is low - unless you just want to get rid of it. Looks to me like a lot of fun left in that old timer. Seems less trouble to work on what you have vs restoring to original (I think of it as preserving) - I like it the way it is - and you said it all "Its fabulous to drive and very fun". What could be nicer. Just my thoughts --

Dale

If you're not soliciting for offers, 'fair offer' bidders should expect to be rejected. If someone's crazy enough to offer way too much, that's a different story.

"Tell me what you think, your feelings on resto versus restification."

I think a ND truck with a 350 has not had an "amateur restoration" or any kind of restoration. It has had modification.

I think if anyone buys it for $4000 he got a very good deal.

Oh, I'm not going to sell it. At least not for that. I also had a guy come to my door a couple of weekends ago and ask too. I suppose if someone was crazy enough to offer 10 grand or more, I'd probably sell it for that; but I'm sure that would never happen. And 4 grand seems too low to me too.

Well, it is what it is. I think all this attention on my truck has convinced me to clean it up this weekend and get a fresh wax job on it. It always looks great when it's waxed.

I'll rebuild the 350 as soon as I get all the parts collected. I'm about halfway there.
Thanks guys!

Some one said $4K is alot in this economy. Not really, its devalued about everyday, with gas cost going up. So how come most folks don't bat an eye at spending $30,000 on a model year 2011 car or truck, but want a more rare item for way less? Especially if it is either original or a good restoration.
Thats pretty good looking truck, with no rust should be more than 4k, especially if the buyer likes those years.

Well Hot Rod,
It's been my experience that if someone has a really nice truck or car such as yourself - After a few years or months they always say " Man I wish I would have kept that truck."
Very nice truck you got there.

Good Luck

I have to agree with Don S. These vehicles are like the stock market. It's only worth what someone is willing to pay for it. Having said that, and having two 51's, it's worth more than 4k.

The market has really crashed for 60s trucks. Couldn't sell my longbed to save my life. Last year I could sell these trucks in less than a month. I never tried with a longbed though. But I could not be more happy with that outcome. I was really going to miss it. It is my favorite truck I have had so far. I will soon see how the hot sounding 63 does on the market. Stock market indeed.

Have you looked around to see what you could buy for 4,000.00?
Ill bet you wont find anything as nice as yours.
I'd suggest hang on to it unless you really need the $$$$.

....unless its a "have to" keep the truck. Once you sell it you can no longer say you own one! Marty said it best, along with good comments from others, ...to see what $000 will buy YOU and I think you'll understand our reasoning. Can't put one in that nice of shape for 4 grand these days.

I used to own El Caminos, two or three at a time, and nice ones too. One day I decided to sell the last one I had, a 1970 with only 70,000 miles on it. I thought 'I'll pick another one up one of these days'. I sold it cheap because they were so easy to find. It seemed that the very next day most El Caminos disappeared and the ones that were left were priced way out of site.
If you sell your truck for $4,000 today, you won't be able to touch one next week for $6,000.

I was taken by the fact that, just because this guy offered what HE thought was a "fair" price, that now you are obligated to sell it to him, and now YOU are somehow at fault for not accepting his money!!
I think that takes a lot of nerve, and I'm always amazed at the attitudes of some people! Especially when you weren't looking to sell it in the first place!

By the way, I think you have a nice truck, and from the picture, it looks like the paint job is already better than a 20 footer!!

Well, don't worry, I'm not planning on selling it anyway. And it's only a 20 footer if it's waxed. And it does definitely need a wax job. I wasn't going to let it go this long without waxing it, but I thought I was going to paint it...

That is until I priced a gallon of my color paint and it was $550!!! Wow. Inflation I guess. Wax is cheaper. Guess I'll wax it.

That's about a 8 grand truck in Va. from what I can see and what you've said. I agree with everyone else. Keep it unless u really have to sell. U got it originally because u liked it. What's changed? You'll get "offers" all the time with anything old or unique.

I agree with Panhead. In UT, that truck would post at $8k easy. That's double the original offer. I'd never go off of NADA. It varies classic car values by $1000's too easily. And depending on where and where it goes up for sale, it may takes months to even get an offer. The only numbers that matter are the numbers on the check with the offer.

As for restoration versus resto-mod... I venture for resto-mod. I honestly want to say one day (if I survive that long) "I drive a 100 year old truck." I also know that at some point, some parts are never going to be replaced with original. And there are those that say "Don't pour new wine into old bottles." So it's tuff to say one or the other. It all comes down to what YOU are going to do with it.

remember, it is worth what ever the buyer wants to pay,
I have bought some high dollar vehicles that way..........lol

If you don't want to sell it, keep it.

After all, it's a running truck and you already know what is wrong with it.

Something is only worth what someone is willing to pay for it.

If someone wanted my beat up '65 c10... and they made me an unsolicited offer, they better open their wallet up wide to get my attention. Cuz right now, I wouldn't take what it's worth, cuz I don't particularly want to sell it.

That's my opinion.

-W

my two cents just keep that truck cause you will be sorry when it gets driven down the road by someone other then yourself trust me buddy happened to me before with 71 bbc nova. and what i should have done was sell that first wife and i'd steal have my nova TODAY .....good luck

Sounds like that guy was trying to maddog you into selling at HIS price. I just love saying no to guys like that...
If that truck even runs it worth more to keep it and drive it. What the heck are you going to do with a measly $4k anyways?

NADA, or any other book doesnt buy vehicles. Most of these books value 4 door classics higher than 2 doors. And modern cars with manual trans less than auto. Doesn't fit the reality of the true market. You may end up putting a bunch of money in to the truck and still only get $4000. 4k for a clean truck in my neck of the woods would be a steal---rust free trucks in NM arent that hard to come by.