What would you pay? 1970 911E

[fiemiller]

A local estate auction has what appears to be a complete 1970 911E coupe for sale. Unfortunately, I will not be able to view the car before purchase because I have to work during their viewing hours and will have to bid on the car online.

The pictures aren't very good, but it appears to be garage kept, but not driven in a long time. No visible rust in the pictures, but then again they aren't the best quality pictures. The interior pictures look a lot better than many of the project cars you see for sale. I am assuming someone stopped driving it because of mechanical issues.

Obviously buying the car would be a bit of a gamble without being to inspect it first, so I'd like some input on what everyone thinks is a can't lose money amount to bid?

[silverc4s]

Too many variables for an accurate number. even a range is difficult. Right now, I guess the worst complete 70 911E would bring around $10K, the best is in the $75K range. Is it numbers matching? How complete? Fuchs? MFI? Body mods? Body Damage? Paperwork, owner history? Rust, rust, rust, looking everywhere.

[fiemiller]

No information on if it is numbers matching or not. Yes it has fuchs and a clear title. It does appear to be 100% complete. Rust and condition of the engine are my two main concerns. The pictures of the body panels do not appear to have any rust. Their are no pictures of the bottom of the vehicle.

A friend of mine that buys old furniture at auctions told me about it, so it isn't being sold at an auction you would typically find a porsche at.

[COLB]

I assume you have the money and temperment for gambling, or you wouldn't even be considering it.

If it is being sold in an estate auction, most likely case is long term storage in inop condition. Let's take that as a given. The next variable is prior life & storage condition, to establish bounds:

Best Case
1. Unmolested/complete, indoor storage (nominally climate controlled, out of the elements). What you hope for is original motor and intact but clogged/inop fuel injection system, with original but tired cosmetics, and "normal" levels of non-structural rust for a long hood. This is still a project car, but could be returned to "driver" status with a thorough, engine out servicing of the mechanicals, brakes, suspension, soft lines, and minimal parts replacement and body work. Budget $15-20k. If the car is in this condition, anything from $30-40k is a likely going price, depending on rust & body color. You have the prospect for a nice condition, unrestored running car for $45-60K, which is probably a break even number. If you can get it under $30k, you are in great shape.

Most Likely Case
2. A car driven til it was no longer drivable, then parked after a major engine failure, and stored in partially exposed condition (barn, shed). Fuel injection is likely long gone, replaced by a dubious carb setup. Engine may or may not be original, and is "core" status -- needing full rebuild, and new or major carb rebuilds. Both body panel and structure rust. Bad repaint in unoriginal color, hiding lots of filler. Pictures can be deceiving -- a car in this condition may not look bad on the outside. It is only when you get underneath, under the carpet, and below the bondo when the truth comes out. As a 911E, this is probably still a car that will pull $15-20, depending on presence of FI system, and state of rust. If it is rusty but with original engine and complete FI, going up to $30k is probably expected.

So this is a car that will sell between $15k and $60k in unrestored, but intact condition (and that sale price may be well above what it is really worth).

If you want to accept the risk, and think you can guage the condition to be close to option 1 than option 2, then $30k is a reasonable "top" bid. But realize that you could be facing MAJOR restoration costs of $30-40k and still be underwater. Or have basically a parts car that will cost you $15k of your investment.

I neglected the worst case, which is a botched 80s conversion with fiberglass flares, and a slant nose kit, amaturely bonded over a rusted out shell. That car is no longer a 911E, and is worth less than the sum of its bastardized parts. Unless you are VIN swapping, and that is rightly frowned upon in this establishment.