How much to pay for a 1958 365A?

sidney67 · sidney67's Garage

I have the opportunity to take a look at a '58 356A, one owner car that's not run for a while and was used regularly up until parked 5-10 years ago. It's probably dry (So Cal car) and will be very original. No confirmation that it's matching numbers but am assuming so.

In looking at various sources there's a quite a variation on pricing so can anyone share their thoughts on what I should expect to pay for a rough but honest 1958 356A?

Thanks in advance,

Rob

TPorsche912 · 03-18-2015, 05:59 PM

Interestingly a friend in Utah just called a week ago with this exact question. The car in question was a '59 with a disassembled motor. The owner was looking for $25k. My response was that it certainly wasn't worth more than that, and if it had any rust he should run as fast as he possibly could in the opposite direction.

Really good driver quality cars are currently selling in the $50k to $75k range. It depends on how much you would have to spend to get the car to that level.

mattC2993 · 03-18-2015, 07:10 PM

Good luck finding any restorable A coupe for less than $40k. A really bad one just went on Ebay for $36 IIRC. Unless its a total rust bucket (needs more than floors and longs and a battery box) I would snap it up at $25k.

copbait73 · copbait73's Garage

Quote:

Originally Posted by mattC2993

Good luck finding any restorable A coupe for less than $40k. A really bad one just went on Ebay for $36 IIRC. Unless its a total rust bucket (needs more than floors and longs and a battery box) I would snap it up at $25k.

Totally agree with Matt, been a long time since I have seen an OLD car like that go for low ($ 25 k) dollars.

sidney67 · sidney67's Garage

The tough part is there is no asking price, they have agreed to sell it but don't need to so I have to come up with an offer. This opportunity has come through a friend's connection and I'm not looking to sell it on, just want to make a fair offer...

Thanks for the input....

Rob

mattC2993 · 03-19-2015, 05:09 PM

I would press to get a price out of him first if you can. You can't assume anything including matching numbers. After sitting for 5-10 years it will need all fuel and brake systems cleaned/rebuilt. The rings could be stuck too. On the other side of the equation, if it goes on the market in today's environment other buyers won't care about that and you will get outbid.

sidney67 · sidney67's Garage

Matt, good advice...but then again I can tell from your garage that you know what you're talking about!

Rob

Jarhead · 03-19-2015, 05:53 PM

Other than a "58 car" am I missing what the car is? You can't compare the car to other A cpes or any other model, or some other purchase made, with limited information and expect a responsible input. Coupe has been assumed. If so, does it have all matching numbers, original colors, complete, intact, no rust some rust, no wrecks some damage? Is it a super or normal? Have any interesting options like a sunroof?
All those things affect value a great deal these days. Just a dry coupe, one owner with no special options.....if condition is as you describe, if you can buy it under $40,000 that is real value for the money. If it is as described, a $25000 car would probably sell in 10 minutes once it hit the internet. Matts input is very good.....and succinct.
Roy Smalley www.eurowerks.com

sidney67 · sidney67's Garage

Yep, understood on the lack of details, I do know it's coupe, matching numbers, little rust, not a super, same owner from new, driven frequently, originally different color but been white for many years. I won't know more until Saturday and I may only get one shot at this so just trying to be prepared. I see 356B's as low as $30k and some people seem to think the 356C is the last and best....so just trying to figure out where the 356A really fits into the mix and arm myself with as much info as I can.....

All comments so far helpful and appreciated...

Rob

Jarhead · 03-19-2015, 08:30 PM

Right now and for a while, the A model is more desirable than a B or C, car for car. 'Right' A coupes as far as I have seen, bring substantially more than a similar B or C. There are a lot more C's than B's, more B's than A's plus some prefer the A look as the "original". Of course the A Speedster is far and away reputed to be the most value of any of the normally aspirated 356's, although some Pre A Cpes/open cars before 53 may be right in there with Speedsters. The C cars are in some respects more driveable but the difference in my mind is more what your own perception is than the reality of driving. You have to ask yourself "why am I interested in this car"? Is it because you want it because you like it; is it because you are looking for a deal on a car; is your intention to resell; or all of the above. If you want an A cpe, then take your best shot and don't worry a whole lot if you are paying some too much or stealing the car. If it is in the bottom half of what you perceive it's value to be, don't fool around.

Of course you know what opinions are worth, but been at this for a while and we all struggle with value, particularly if making a mistake will hurt and affection for a car can't erase that. Sorta like a gamble in buying stocks. One thing. They don't depreciate like buying a new Cadillac, Lexus or even a Porsche these days and that is worth something.
RoySmalley

sidney67 · sidney67's Garage

Appreciate the thoughts Roy - I know the 911 market much better and am trying to come up to speed on the 356's. This is just an opportunity that has presented itself, it's not a car that I will sell on (thanks to all those who sent PM's offering to assist me in that regard) so there's not a question on needing to make a return on it - and as you say in the long run it's unlikely that it won't appreciate. But like most people I suppose I want to feel like I didn't over pay for something....tks again.

Rob

mattC2993 · 03-20-2015, 11:38 AM

Quote:

Originally Posted by sidney67

...(thanks to all those who sent PM's offering to assist me in that regard) ...

lol That tells you what the market is like... how long it lasts is anybody's guess

sidney67 · sidney67's Garage

Ok, so bit of an anticlimax as the original owner has decided she's not sure whether she's ready to sell....the car however was fantastic, non sunroof 1600 super with no rust and paint to show what a well used life it's had, great car. Waiting/hoping for my phone to ring.....

CountD · 03-22-2015, 11:31 AM

Quote:

Originally Posted by sidney67

Ok, so bit of an anticlimax as the original owner has decided she's not sure whether she's ready to sell....the car however was fantastic, non sunroof 1600 super with no rust and paint to show what a well used life it's had, great car. Waiting/hoping for my phone to ring.....

Don't wait for the phone to ring. You need to pursue this. Everyone is ready to sell. Don't get all pushy, but if it's something you really want I'd go after it, put a price out there and go from there.

ficke · ficke's Garage

Quote:

Originally Posted by CountD

Don't wait for the phone to ring. You need to pursue this. Everyone is ready to sell. Don't get all pushy, but if it's something you really want I'd go after it, put a price out there and go from there.

Agree.
This sounds like a neat honest car from a neat old owner, these opportunities do not happen that often, make her happy and yourself happy buy the car for a fair amount.

TPorsche912 · 01:12 PM

Quote:

Originally Posted by TPorsche912

Interestingly a friend in Utah just called a week ago with this exact question. The car in question was a '59 with a disassembled motor. The owner was looking for $25k. My response was that it certainly wasn't worth more than that, and if it had any rust he should run as fast as he possibly could in the opposite direction.

I have to admit to a bit of bias in this evaluation and divulge a bit more info. Having spent 23 yrs in Salt Lake City, the location of the car, and having been told that the car had been a daily driver I already knew more about the car than the person asking the question. Salt Lake gets lots of snow in the winter depending on which part of the valley you're in. Dec. and Jan are both very cold, along with the snow, so most folks don't wash their cars very often or they will freeze themselves out of the locks. One of the largest repositories of salt in the world is sitting right next to Salt Lake, thus the city name, and they use that resource to it's advantage. And lastly, the person asking the question has absolutely no mechanical aptitude. Would probably have problems figuring out the mechanical workings of a paper clip.

With all that information I gave the advice mentioned above. I never got a return call, which was promised after he saw the car, so I have to assume it wasn't purchased, and probably fit my description of what it would be. He may still be running like I advised.

This does bring up a good point tho. I see lots of advice being presented here about the value of a car based strictly on the car. Usually the original question is being asked by a potential buyer. Very seldom is the question asked about the capabilities of the buyer in respect to the condition of the car. I do all my own work, from mechanical to body work and paint. I could buy a particular car at a much higher price and finish the car very well without getting upside down. Someone buying that same car, at the same price, but having to farm out everything from light bulb replacement on up to who knows what would be upside down very quickly. They would have to buy the car at a much lower price to stay out of trouble. That's exactly why I quoted the low price to my friend.

Does that affect the original value of the car, or does it simply limit the buyer pool? For purposes of this forum, can we predict a price value to "all" buyers?

The other thing I've noticed is what a dramatic geographical difference there is in the value of these cars. Every time I throw out my opinion, I get shot down for being too low. I'm not making up these prices, and not just throwing out random numbers. My info is based on actual offerings in my area, or sales that have already taken place. I know I live in the land of old farts and old cars, just didn't know they were that less expensive in my particular location.

I can guarantee you one thing. Rich old men love their cars, usually Corvettes and classics. And then they die and these cars get sold off quickly by word of mouth only at ridiculous prices. They are very seldom advertised.

ficke · ficke's Garage

Interesting thoughts TPorsche912, I would say that the buyer should not be included in evaluating the price of a car, Hagerty, NADA, etc. would not take into consideration of the buyer in price evaluation of a car and neither should we. It should when you are giving advice to a friend you know.
Here we do not know the abilities of people and can only give advice on our personal belief of current market conditions for the cars.
This market is changing so fast that two months out is old news and a year can be mistakes made by 20-30% in pricing.
An old corvette guy told me after he just sold a whole Corvette for not much more than the Rochester fuel injection alone " the best person to buy from is an 'expert', someone who thinks they know the market, and they do not need to check"

TPorsche912 · 03-22-2015, 04:34 PM

Quote:

Originally Posted by ficke

Interesting thoughts TPorsche912, I would say that the buyer should not be included in evaluating the price of a car, Hagerty, NADA, etc. would not take into consideration of the buyer in price evaluation of a car and neither should we. It should when you are giving advice to a friend you know.
Here we do not know the abilities of people and can only give advice on our personal belief of current market conditions for the cars.
This market is changing so fast that two months out is old news and a year can be mistakes made by 20-30% in pricing.
An old corvette guy told me after he just sold a whole Corvette for not much more than the Rochester fuel injection alone " the best person to buy from is an 'expert', someone who thinks they know the market, and they do not need to check"

Very well put.

I just see a lot of amateur questions being asked by buyers here, and a bunch of really high values being quoted by the experts. That mix will usually result in a very bad financial outcome.

As you well know, restoration of any car takes a high degree of ability in many different professions. I doubt that many of these folks asking the question have any idea of what it takes to get to that level. To throw out a top of the market price, on a less than desirable car just adds to the problem.

I agree that we can only quote the market, and its caveat emptor to the buyers. Hopefully they are being honest with themselves or have the funds to pursue their interests.