How to value a ‘71T Targa.

71T Targa · 12-06-2005, 02:11 PM

I am going through an ‘interesting’ time in my life right now. Without getting in to details, I need to come up with a reasonable value on my ‘71T. The car is in need of a full restoration, so looking at the market reports doesn’t really fit. Outside of having it appraised, which I may need to do, is there a way to put a value on it?

The car is a ’71 T Targa with unknown miles, no history, and is in need of paint, interior, and maybe a rebuild. I know that’s not a lot to go on, and I need more than ‘I think it’s worth $xx,xxx.’ Is there something like the Blue Book for older cars?

71T Targa · 12-06-2005, 02:31 PM

Quote:

Originally posted by SoCal911SC
No book is going to help you.

I think you may have 1 too many "x"s in your "I think it's worth" quote, though.

I think in reality there may be 2 too many x's. When it comes right down to it, it will cost me more to restore than it will be worth after. But that's not the point, is it???

Allenk · 12-06-2005, 04:39 PM

I'm sure if you posted some pictures, people could give you an opinion based on parts that are useable.

Zeke · 12-06-2005, 05:15 PM

It depends on what the circumstances of the " interesting time in my life" is. If you're are trying to buy a home and list assets, it's worth 20,000 as a collector car. If you are getting a divorce, it is worth what the local broker will give you, or as my guess would be, 2000.

There are not two too many xx's in your post. Any running, drivable 911 is worth a quick 5000. They will part out for more than that.

A little more than a couple of years ago, just before the acquisition of the Ragamuffin (for 5000), I was standing in a garage looking at a sorry '72 coupe with a very leaky 3.0 and wires hanging out from under the dash. Didn't run. I told the guy it was a 3000 dollar car and I would give him that. He told me that he had already had that offer and turned it down. Just then, a guy walked up and said 4000. Sold. I think he was from a dismantler.

There is no blue book for older cars that I know of. But, you can search Ebay completed listings for a recent history of sales. I would discount the figure that you come up with from eBay if you want someone to come over and pick it up right away.

I wanna see what RandyWebb has to say on this one.

Early_S_Man · 12-06-2005, 05:39 PM

Joel,

I think you are asking the wrong question ... assuming that you are trying to decide whether to put a yet-to-be-determined amount of money into a restoration or 'restification' project based on your car. The same question could have been asked by Jack Olsen a few years back ... and I am quite sure a bunch of nay-sayers like Brian, et al, would have said not to spend a penny on the project!

Whether you proceed should be determined by what your goal is, and what you want to do with the car. Fixing/restoring/modifying a car is never worthwhile based on expectations of what it would be worth if you sold it after work is completed. Since you have no history as a creative automotive artist ... there aren't a lot of buyers just waiting for you to finish!

The above considerations don't mean you should sell or part out your car by any means!!! Collect your ideas, do some planning and estimating ... and formulate some alternative outlines, based on budgets and how extreme you want the outcome to be! The real beauty of early 911s is how far you can carry their evolution ... limited only by your imagination or budget!!!

304065 · 12-06-2005, 06:44 PM

What color, equipment? Do the numbers match?

It's hard to invest $100 to find out, but I can tell you that if somebody opted into original sport seats and a bunch of factory accessories, and got a special color, that's worth more to a restorer than a run-of-the mill 911.

Allenk · 12-07-2005, 01:46 AM

I basically have the same car, in black (was white until PO brushed it black). I paid 2K with the car better than 85% complete and running, but rusty. I figured the parts would be there if things got too bad. I would be interested depending on condition and price.

Dgraphic911 · 12-07-2005, 06:07 AM

Tell her its worth 20 grand, let her keep it, buy a finished cat witht the savings. Or sell it to me for a buck and give her the .50. I routinely see cars like this for 1500-3500 in need of full restoration. You can't go buy the current bid price on ebay, because if it hasn't reached the sellers lofty BUY IT NOW its all fake bidding anyway.

71T Targa · 12-07-2005, 07:16 AM

Thanks to all for the input.

The question is really two parts, first if I need to write a check for ½ of what it’s worth now, what would it be. Right now, on paper, it’s worth $8,000. So do I write a check for 4k and keep my dream of the restoration alive? Or do I let it go to the highest bidder or wholesaler and split that?

Or, is there a way to show that it’s not really an 8k car as it sits and write the check for something less. I’m seeing that the only way to get the true ‘value’ would be to sell it and see what the market will bring. I’m not to keen on that so I will probably bite the bullet and write that 4k check.

I did offer it up last summer and while she was interested in driving it when the mood struck, she was not at all interested in owning it. No surprise there, I keep it up, and she ‘borrows’ it on the nice sunny weekends. No thanks, I’ll pass…

There is nothing ‘special’ about the car. Standard low backs replaced with midyear high backs. Color code is for silver but car is blood orange. (Although I can’t find any signs of a re-spray) Cookie cutters replaced with 6/7 Fuchs. Top is in good shape, but the rest of the interior, dash, carpet, etc. needs to be replaced. I bought it from a little shop with the initials of AA before I knew anything about this site and would do a much better job of shopping now. But I don’t really want to be shopping.

silverc4s · silverc4s's Garage

phred68 asks; "Or, is there a way to show that it’s not really an 8k car as it sits and write the check for something less. I’m seeing that the only way to get the true ‘value’ would be to sell it and see what the market will bring. I’m not to keen on that so I will probably bite the bullet and write that 4k check. "

I have a friend that was in a similar situation. Telling his soon to be ex that he was in a bind for cash, he sold his 66 vette to a biz partner in another city for $5000. Car promptly left town, etc.
A while later when the dust had settled, he bought the car back for the same $$$, and still has it today..
CAVEAT: You need someone that you REALLY trust to do this, not everyone has such a friend...

71T Targa · 12-07-2005, 07:31 AM

Quote:

Originally posted by silverc4s
phred68 asks; "Or, is there a way to show that it’s not really an 8k car as it sits and write the check for something less. I’m seeing that the only way to get the true ‘value’ would be to sell it and see what the market will bring. I’m not to keen on that so I will probably bite the bullet and write that 4k check. "

I have a friend that was in a similar situation. Telling his soon to be ex that he was in a bind for cash, he sold his 66 vette to a biz partner in another city for $5000. Car promptly left town, etc.
A while later when the dust had settled, he bought the car back for the same $$$, and still has it today..
CAVEAT: You need someone that you REALLY trust to do this, not everyone has such a friend...

Hmmm, that seems morally wrong…

Anyone want to but a ‘71T for $2k? Sell it in a year for $2,500?

Dgraphic911 · 12-07-2005, 08:18 AM

Do you want it the same way you got it, I agree with silver C4, and have seen this done, but usulally in advance of papers being filed or the last big fight, really need to be 2 steps ahead of her not to get caught, and a 66 vette is worth risking the gamble, I will give you .50 and you can buy it back in a year for the $1.00. Now shipping could be a problem. I stll say if she thinks its worth more than market value you let her have it for the 4K, and use that towards a COUPE LOL, If your int the divorce planning stages you could try the WOW thats all i could get, dammit, oh well heres your 1500, and then buy it back next year. Seems like a lot of trouble.

IF the cars was hers,kinda, even though she never drove it, get another and make some new momories with that one, let the old memories go. Another car I mean.

I have the 2k ready if you want to drive by this weekend, And i have no morals so i won't feel bad.

leepa@rcn.com · 12-07-2005, 08:35 AM

Joel -

My first Porsche was awarded to my ex in the divorce and she handed the keys over to her new boyfriend with me watching the exchange. He drove it into a pole two days later. There's a silver lining in every dark cloud

Jerry

'71 Targa w/original sport seats

71T Targa · 12-07-2005, 08:39 AM

Yes, it would be a lot a trouble. And not something that I could really do. Thanks for the offer though.

cassidyp · cassidyp's Garage

Check out the Old Cars Price Guide. As a licensed vehicle appraiser I have used it to assist in determining value. Http://www.oldcarspriceguide.net is their address. Only problem is that not all cars listed in each issue. Spoke with Editor who states they try to have broad coverage of vehicles and impossible to list all cars each issue. You may have to find one or more issues. This guide uses a 1 through 5 value system and identifies the values in the beginning of the guide. Best guide I have found yet.

BTW I have a 71 all original Targa with 52,000 original miles for comparison pm me if you want any details on that car

Zeke · 12-07-2005, 10:08 AM

If you write a check for 4K now, that means you have paid a total of 12K for the car. I know, I did that once, but the values have to be changed to make it even worse than your deal.

Another solution is to offer up 4K worth of other equity in exchange. Really, you own half of her rings, right? I'm sure this has already been considered.

BTW, I'm sorry if I outed your separation, it was only a hunch.

71T Targa · 12-07-2005, 10:56 AM

Zeke, Don't even get me started on the household items (Rings, TVs, dishes, even bath towels, etc.) I've already been told that unless I want this to drag out and cost me a bundle, I'll just give her what she wants. No thoughts of an equal division.

BK911 · BK911's Garage

Ebay. Whatever is sells for is what it's worth.

Rockafella · Rockafella's Garage

http://www.collectorcarmarket.com/

Dan Morton · Dan Morton's Garage

It sounds like your car could be worth $8k if it runs and looks decent enough for someone to enjoy and tinker with over time. However, you would have to wait awhile to get that kind of money. I would say you could easily get $5k.

But your issue will be proving a lesser value and that isn't really possible without selling it.

If you are emotionally attached to the car, then write the check and be happy. If you are willing to get a check for $2.5k, then sell it and start over.

Situation sucks and I'm sorry to hear you have to deal with this.

Good luck!
-Dan