1991 964 C2 Cabriolet

[pnut_lee]

Need honest, fair assessment of value. Sorry, no photos so do your best based on description. I'm looking at buying, not selling. What would be a fair value for both parties?

Car is a 1991 Triple Black C2 Cabriolet

The Good:

1. Current owner has owned for 14 years
2. Looks great from 10-15 feet
3. Top replaced by current owner and looks great
4. Rear reflector and tail lights replaced - so no cracks
5. Engine sounded great - Has cat delete and secondary muffler delete

The Bad:

1. Odometer stopped working approx. 14 years ago - currently shows 110,000 miles
2. Needs an alternator
3. Engine leaks oil (I know all of them do - see next line)
4. Oil leaking so badly that owner had to disconnect heater hoses in cabin and stuff with rags to get rid of smoke/fumes in cabin
5. Top only works manually. Issue with motor
6. Looks like left and right sides repainted at one point
7. Tires are 14 years old
8. Does not have original wheels. Looks like 996 wheels
9. Door gaps on both sides not flush with fenders - both door lips stick out past fender line
10. Car was purchased at DEA auction - Dash, frunk, etc. torn apart previously
11. Needs ignition switch
12. Interior rough - center console switches floating freely (assume clips broken that lock into place)
13. No rubber seals on new tail lights
14. Texas car previously, so fading from sun on anodized / black exterior pieces (door handles, etc.)
15. No spare tire, tool kit, compressor, etc.
16. Clutch pedal had very limited amount of travel - I've owned 3 964s over the years, and this felt very different than those. Is this indication of clutch wear?
17. Hasn't been driven in two years

I didn't get to drive the car, so can't comment on suspension, brakes, transmission, power, etc.

I offered $20k, but he was told by a local European car dealership that it's worth $50k. To be fair, he's not asking anywhere near $50k, but that valuation by the local car dealer is setting his expectations a little high. I gave him BAT comps for the last half dozen 964 Cabriolets which show 18k mile and 43k mile pristine cars selling in the Mid to high 40s.

Any thoughts?

[Alan A]

Tell him to find out what the dealer that values it at $50k will offer to *buy* it.
Offer him $100 more.

[Transcon]

After reading that list I'd personally walk away

[dwelle]

alan has a good point, but i'm with transcon.

this car sounds like a mess. has all the markings of a car one could easily end up under water on...

[Matt Monson]

$25-30k. And it's gonna need a engine rebuild and a while lot more.let the dealer have it.

[Alan A]

Originally Posted by Transcon

After reading that list I'd personally walk away

Me too. But the OP asked what a fair value was, not if he should buy it...

[pnut_lee]

The logical part of my brain says walk away, but the emotional part of my brain says “This could be a fun winter project”.

Matt, I am shocked at your $25k-$30k valuation as it sits. Given it needs $15k worth of work to be a nice driver quality car, I can’t imagine anyone paying more than $20k. Even at that price it’s risky to me. If it takes $20k to bring up to snuff I could have had a 50k mile mint condition 964 cab for just a little more $.

I know the car is worth $25k-$30k in parts, but I think it is sacrilege to part a car like this. It would get restored to driver quality.

[pnut_lee]

Oh, and the dealer isn’t offering to buy it of course. Just setting unrealistic expectations for the owner......

[Matt Monson]

Originally Posted by pnut_lee

The logical part of my brain says walk away, but the emotional part of my brain says “This could be a fun winter project”.

Matt, I am shocked at your $25k-$30k valuation as it sits. Given it needs $15k worth of work to be a nice driver quality car, I can’t imagine anyone paying more than $20k. Even at that price it’s risky to me. If it takes $20k to bring up to snuff I could have had a 50k mile mint condition 964 cab for just a little more $.

I know the car is worth $25k-$30k in parts, but I think it is sacrilege to part a car like this. It would get restored to driver quality.

Notice I said don't buy it? I said what it's worth on the open market. It's not worth that to me. Is it worth that to you? He sounds like he won't go $20k.

[Ralph3.]

With all the needs and unknown mileage $20K sounds more than fair.

[pnut_lee]

Originally Posted by Ralph3.

With all the needs and unknown mileage $20K sounds more than fair.

That’s what I was thinking. Heck, after seeing what a mess it was I was hesitant to even pay that, but there’s no such thing as a sub $20k 964 anymore regardless of condition.

[Ralph3.]

Cab's aren't popular like coupes and targas. Probably over 150K miles or more. Likely needs top end, clutch, new tires and wheels, interior work, fix the top, various other electrical and general maintenance items. You can get to over $20K plus the purchase price fairly easily unless you do everything yourself. Even then it adds up fast.

[Nick Triesch]

You will never know the true mileage. Junk. Let it go.

[Cobalt]

Originally Posted by matt monson

$25-30k. And it's gonna need a engine rebuild and a while lot more.let the dealer have it.

+1

[MIAdragon]

Not even sure I’d do 20k. *maybe* 15k.

[996AE]

Bought my 1988 911 cab with documented miles knowing it needed top end and suspension refresh. All in close to 30k later in parts a labor included bottom up engine build (only needed top end but I was why not while were this far go all the way got me) its a phenomenal little car.

Budget 25-30k parts and labor to do mechanical refresh and add that to the cost of car. Easy to spend more if you get into interior and paint.

Not sure if longer term Cabs will stay below current market prices of Coupes. Historically Cabs are more collectible but in 1980s and 1990s P cars certainly not true today.

My thoughts however are that with so many hotrod and tracked coupes stock original kept cabs will be much fewer in number and this current trend may reverse. At cars and coffee you surely dont see as many cabs out and about.

Good luck with the hunt.

[Matt Monson]

Originally Posted by MIAdragon

Not even sure I’d do 20k. *maybe* 15k.

Find a complete 3.6 swap for under $15k
Find a complete g50 swap for under $7500

The first two parts out of the car get you close to my $25k. Someone will buy this car and put all of it into a G body hot rod.

[blyguy]

It might be worth $50k once you do $30k of work...

This can be a rough driver for a DIY person to fix leaks etc. my guess $25-28k

You would be completely upside down to make it ‘clean’ and still has TMU.

Parting it out will net close to the first scenario. $25k or so

The market price doesn’t cure the fact this car has everything worn out, leaks, repainted, bad panel fit and no mileage history.

[996AE]

Find me a G body rust free coupe roller for under 15k and I am a buyer

[Cobalt]

Originally Posted by Matt Monson

Find a complete 3.6 swap for under $15k
Find a complete g50 swap for under $7500

The first two parts out of the car get you close to my $25k. Someone will buy this car and put all of it into a G body hot rod.

LOL you keep beating me to the punch. I would take it for $25k for the engine and trans alone and can recoup a good portion of the buy in by parting out the rest. Although I could convert it to a wide body coupe and make a nice car out of it for $25k buy in it is worth it to me. Probably in better condition than most of the coupe donors I look at.