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MRM MRM is offline
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Help Valuing a 72 T Garage Find

A friend of a friend has offered the opportunity to buy a 1972 T garage find. Although a cliche, it is a true story. The car was owned by the second owner for almost 35 years before he died about three years ago. The car ran when it was parked before he died, and had been started a couple of times since it was parked, but not for the last many months. It cranks but doesn't start. Mostly rust-free with a couple of bubbles in the usual places. Floor pans are reported to be clean. The current owner is the second owner's widow who doesn't want to hassle with anything and just wants the car gone so she can buy a newer, more reliable 996 cab that she can drive and enjoy in her husband's memory. She wants the car gone with an emphasis in convenience without being taken obvious advantage of, and she'd appreciate the car going to an enthusiast who would keep the car and the memory of her husband alive. This is a good friend of a good friend, so that part isn't a problem, and would likely come with any purchase.

I'd love to buy the car, but I also don't want to get into a value trap where what seems like a good deal turns in to a money pit. She really wants to get rid of it to someone who offers a reasonable cash payment and takes it off her hands.

Can anyone give me any advice on what the car is worth, given the lack of information and assuming it's basically a rust-free but otherwise unrestored 72T that will need a gentle touch to get it back on the road (and then untold dollars to get it to collector's condition?).

I am not interested in taking advantage of a widow, especially one who is the close friend of a good friend, but I also don't want to sign up for a value trap - a car that seems too good to pass up but becomes a money pit,

Any advice the brain trust can offer would be greatly appreciated.
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Old 08-05-2018, 02:47 PM
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Porsche Marketplace Discussion - Pelican Parts Forums
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Old 08-05-2018, 02:49 PM
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Worthless without photographs.
Old 08-05-2018, 03:44 PM
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MRM, I'd want and need to carefully yet assertively poke the shell with an awl or similar in the usually-bad places: gas tank support, a-arm mounts, nose/inner fender joints, rockers, rocker-quarter panel joints, kidney bowls (thru rear wheel arches), area under the torque tube ends/sway bar mount (T may not have sway bar?), torque tube itself. I submit this could be done respectfully and judiciously without hurting the car, but you'd need the owner's blessing. I know some pretty cars which would NOT pass these tests and wouldn't want to pay "rust free" money for a good-looking car which is in fact beset with cancer. Best of luck to you, John/CT
Old 08-05-2018, 03:50 PM
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Take a pass through a recent issue of Sports Car Marketplace to get a more or less realistic idea. The market for early 911 series has corrected somewhat this year, fwiw. Ignore Pano and Excellence, sellers have rather inflated notions. Get it inspected by a local shop that knows early 911 cars and what to look for, what it needs now, six months, and eventually. Good luck!
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Old 08-05-2018, 04:01 PM
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value

Go spend another 1 hour looking at the car,take just a point and shoot camera
with you,take about 10 tio 15 photos under chassis ,floor,under rear,just hold camera
close to ground at a angle,then a few inside under edge of carpets etc.
By doing this you will know approx how if any rust.
Dont worry about engine etc so much,as i think you said it was driven there.1 photo of engine number may help. to check if matching.
My opinion is if it has say about $1000 of rust repairs to get it right.
it is worth approx $28000--=-$35.000. Here is one photo example. good luck.
I purchase 1 to 2 classic cars a year on ebay like this ,and only if the seller ,provides me
with at least 15 20 photos of under chassis, etc,if he does not ,i just thank him and leave it.
Old 08-05-2018, 07:18 PM
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I sold this one as a fairly complete project a few months ago for $28,000. Did the seller give you any indication on a price? Or is just a make an offer situation?

---Adam



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Old 08-06-2018, 07:12 AM
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It's kind of an "on your honor" make a fair offer sort of situation. One of my best friends grew up with the son of the widow who owns it and is close friends with him. Our mutual friend is an absolute gearhead who made the connection because he knows that this is a car on my son's and my bucket list. The family likes cars, but they are not mechanics and don't have the time or patience to fix it up to use or prepare to sell. They've decided it's easier to just sell it as it sits. They don't want to go through the hassle of advertising, it, so they've quietly put the word out to friends and family. The mother wants to sell this car to get a newer Porsche that she can drive reliably.

So to cut out the hassle factor for the family, it's pretty much that we're supposed to figure out what a complete, mostly rust-free recent running 72 T is worth, knowing it will take a lot of sorting to do to get it in good shape.
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Old 08-06-2018, 09:12 AM
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$30k
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Old 08-06-2018, 09:18 AM
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Yup..

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Old 08-06-2018, 09:31 AM
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Really? $30,000 as it sits? How much would it be worth restored?
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Old 08-06-2018, 10:06 AM
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Couple things to keep in mind, it's important to do the honorable thing to your friend and the family but it's also good to remember yourself. If you have a major hiccup, like serious motor work, your well into 10's of thousands, and they aren't going to give you money back. Why was it parked? Was it because the clutch was slipping or because the motor went pop? That's the problem when dealing with estates, the one person who knows the car can't talk.
But $30,000-35,000 would be retail on that car, pay what you think is fair and you can live with.

---Adam
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Old 08-06-2018, 10:10 AM
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Really? $30,000 as it sits? How much would it be worth restored?
Depends on the level of restoration, but 2-3 times that.
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Old 08-06-2018, 10:25 AM
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Quote:
Originally Posted by Unobtanium-inc View Post
Couple things to keep in mind, it's important to do the honorable thing to your friend and the family but it's also good to remember yourself. If you have a major hiccup, like serious motor work, your well into 10's of thousands, and they aren't going to give you money back. Why was it parked? Was it because the clutch was slipping or because the motor went pop? That's the problem when dealing with estates, the one person who knows the car can't talk.
But $30,000-35,000 would be retail on that car, pay what you think is fair and you can live with.

---Adam
This is exactly my thought process. I figured that in good condition it might be worth $40,000 and that it would likely cost $20,000 to get there - if everything went perfectly. It sounds like my estimate of after-repairs value might be low.

I can find out some more information this afternoon. The car was parked when the previous owner got sick about three years ago. It's been started a few times since then but not driven. I will add some pictures next.


It's dirty, but appears as described. A recent runner with everything complete that needs to be brought back to life gently. Just a lot of life that needs to be breathed into it to get it looking good again.
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Old 08-06-2018, 10:39 AM
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MFI in place? That's a biggie to me. Rust is another. Originality is another. Adam's example above looks to be a pretty clean example and a decent deal at $28K, assuming it runs and there's no rust. Big assumptions.

This is where your $30K "fair widow offer" can turn into a 'needs an engine rebuild and there's rust everywhere' nightmare.

If those seem to be ok, I'd make my fair offer, but ask if it's ok if I could at least come over and inspect the car and maybe even try to get it running before I fork over tens of thousands of dollars. That could justify or nullify your offer. Without that, the fair price is a crapshoot.

$25 would be my low; $35 my high.
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Old 08-06-2018, 10:48 AM
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To be fair to both parties, it's probably worth $30K - but on the idea that it's going to someone real and not BHCC I would say $20K-$25K.

First it's a 1972, which all the '72 freaks will come out of the woodwork and there are some that consider the '72 the best year for a 911 ever. I appreciate the unique attributes of a '72 over anything else, and probably would prefer it over any other longhood because of those unique attributes and the fact it's much more refined than a '68 or even a '70 for that matter.

With that said, man it takes a lot of labor and money to get a "sitter" to driveable condition. Taking market hype out I believe in the lower twenties would be fair if it was a family deal. If not you could go full retail at what Adam said at $30-$35Ke
Old 08-06-2018, 10:48 AM
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Quote:
Originally Posted by MRM View Post

Can anyone give me any advice on what the car is worth, given the lack of information and assuming it's basically a rust-free but otherwise unrestored 72T that will need a gentle touch to get it back on the road (and then untold dollars to get it to collector's condition?).
Quote:
Originally Posted by MRM View Post
This is exactly my thought process. I figured that in good condition it might be worth $40,000 and that it would likely cost $20,000 to get there - if everything went perfectly. It sounds like my estimate of after-repairs value might be low.

.
$20k is not even close to enough to go through a car. Even if it had perfect original paint the rest of the car would clear $20k to restore.
Your ideal car has original paint, un-ripped interior and you keep it as a survivor by cleaning and refreshing only what is needed.
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Old 08-06-2018, 10:51 AM
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I'm trying to load photos but I'm going to have to change formats to get them to upload. That will be challenging for someone like me. Stay tuned and I'll get them posted.
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Old 08-06-2018, 10:56 AM
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People are talking like it’s been sitting 30 years, not 3. This car will run in a weekend is my bet. Fresh fuel, some pump and dump and maybe a carb rebuild if it’s a euro.
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Old 08-06-2018, 11:25 AM
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Looks like a survivor. I say $30k is well bought and it could be flipped at $40-45k if it is just running.
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Old 08-06-2018, 11:41 AM
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