Opinion on the value of a '66 912

[2cam]

Greetings fellow Pelicaners,

I'm reaching out to see if you could offer an opinion on a '66 912 that I found in a garage here in Austin. The owner has had the car for over 40 years and it's been sitting in the garage unused and not started for the last 20. It was last driven in 1998 when it was driven from an Air Force base in Shreveport, LA to it's current resting spot in Austin. As a result it doesn't run and probably needs to have everything gone through. At this point, it's under a car cover with 20 years of junk piled on top and around it. I've had a chance to take an initial look at the car the best that I could (the rockers, fenders, and rear wheel wells look decent, the engine compartment and rear fenders/deck lid don't appear to have any rust issues). The motor is definitely a 912 motor (unsure if it's #s matching) with what appears to be everything intact - correct air filters, carbs, etc. The interior looks a bit tired but complete. All of the exterior trim appears to be complete and accounted for. From what I could see, it does appear to have rust through in the floors toward the back of the pan. Unfortunately, I wasn't able to see under the front of the car or look in the frunk to see the level of rust in those areas. All of the glass is complete and looks to be in good shape. It's a 3 gauge car and I presume a 4 speed (the owner couldn't remember if it was a 4 or 5 speed). Standard steering wheel. 14" Fuchs with older Michelins that employed tubes.

The car was originally white, but has been painted a couple of different times during its lifetime according to the owner and is currently red (the current paint job is over 30 years old) with black interior. So, there's no telling what those repaints could be hiding.

I know that it's difficult to ascertain a value with limited information and without seeing a car in person (or at least seeing decent pics), but what do you think is a realistic price range for what's described above given today's 912 market? The owner stated that he would sell it for $10K. Given a car that will probably need to have everything gone through mechanically just to have a driver level car, what do you feel is a realistic price?

Pics of it's current state of slumber attached...

Thanks!

Mike (2cam)

[NYNick]

For $10k can't the guy take the crap off the car? $10K is nothing for this unless it's a rusted hulk.
Gonna cost you twice that just to have a driver though.

I'd say "sure, $10k?. Let's get a look at it."

[2cam]

Originally Posted by NYNick

For $10k can't the guy take the crap off the car? $10K is nothing for this unless it's a rusted hulk.
Gonna cost you twice that just to have a driver though.

I'd say "sure, $10k?. Let's get a look at it."

Thanks for the response Nick.

Yeah, the owner hadn't anticipated removing the junk to show someone. I saw the car sitting under the cover and recognized the roofline as I rode by their house on a bike ride and stopped to ask about it. We're planning to get together this weekend to have a more in-depth look at it with all of the junk removed.

The significant additional cost (your estimated 2x the purchase price) to get it up and running is really the concern that I have. It's not that I'm not willing to pay the cost to get it going, it's just at what point does it make sense to buy a turn-key driver instead as you start approaching that $30K mark.

Cheers,

2cam

[NYNick]

Well, of course my 2X estimate was just an out of my butt guess at a car that's under a cover. Could be 5k, could be 50K.

My biggest concern would be rust. These cars rusted while you were just glancing at them. It can be downright dangerous to drive and expensive to repair. A 3 gauge 4 speed would be cool to own...but I wouldn't want to blow my budget on rust repair. Mechanicals are easy in comparison. Bring a good flashlight and a magnet.

If you want a project and a driver, I'd say it's worth a look. Hell, it's worth a look anyway. They all are.

[NYNick]

http://forums.pelicanparts.com/porsche-cars-sale/982075-fs-1966-912-rare-3-gauge-car-1968-912-project-parts-cars-both-12-000-obo.html

[2cam]

Originally Posted by NYNick

Well, of course my 2X estimate was just an out of my butt guess at a car that's under a cover. Could be 5k, could be 50K.

My biggest concern would be rust. These cars rusted while you were just glancing at them. It can be downright dangerous to drive and expensive to repair. A 3 gauge 4 speed would be cool to own...but I wouldn't want to blow my budget on rust repair. Mechanicals are easy in comparison. Bring a good flashlight and a magnet.

If you want a project and a driver, I'd say it's worth a look. Hell, it's worth a look anyway. They all are.

I agree completely. The mechanicals don't scare me (other than a few parts that seem like they're becoming more difficult to find and expensive as a result). However, rust isn't something that I would be able to tackle myself. My personal skillset doesn't include bodywork or welding, so I would need to outsource those bits which could end up being crazy expensive depending on the level of repair needed.

2cam

[2cam]

Originally Posted by NYNick

http://forums.pelicanparts.com/porsche-cars-sale/982075-fs-1966-912-rare-3-gauge-car-1968-912-project-parts-cars-both-12-000-obo.html

Thanks for the link. The car under the cover is MUCH nicer and significantly more complete than either of those.

2cam

[kc911s]

If you can't do any of it yourself- the rust repair is going to be at least $10k- these cars rust from the inside out. The rust you can see is just the beginning. The engine rebuild is going to be $10k and if you want a paint job your looking at another $10k. If you have no emotional attachment to the car you will be better off finding one that has already had the work done to it If you're in the market for a 912.

[Mocker]

^^ That's the problem with 912s--very easy to get upside-down if you have to pay for a lot of body work. At least with an early 911 you've got a $50k+ car when it's all sorted...

[mattC2993]

Its gotta be worth $10k in parts

[2cam]

Originally Posted by Mocker

^^ That's the problem with 912s--very easy to get upside-down if you have to pay for a lot of body work. At least with an early 911 you've got a $50k+ car when it's all sorted...

Yeah, if it were a 911 or even a 356, it would be a no-brainer for me...

Originally Posted by mattC2993

Its gotta be worth $10k in parts

Could you help me with this? What is the value of a core motor and trans? What are the big ticket items that would bring the biggest dollars if it were (worst case scenario) parted out? I don't think that this car is that bad given what I've seen so far, but it's always good to game out as many scenarios as possible.

Thanks!

2cam

[kc911s]

To a shady individual it can become a swb 911. Or a donor car for a needy early 911.

Engine/tranny combo with no receipts for any work/service prob looking at $5k-$7k in value. Depends how rusty the shell really is. You won't know that until you have it at your garage or shop and start taking things off it.

This is the sad part--- No matter how good it looks now covered in years of accumulation- it will probably look worse when you get it home and start really looking at it.

Yes, it is worth saving. It is doing no body any favors sitring where it is. It's up to you to decide if you have the time and patience for it.

[mattC2993]

Unless its a total pile someone will snap it up for $10.

[SalParadise]

I really don't understand why this is a question, unless we are looking at a 911 silhouette made out of plywood under that blue cover. Last time a saw a 912 for $10K under a cover was back in 2010.

Really, you've got to be kidding. Realistic price? Yeah the realistic price is $20K ++

If there is really a 912 under there you better get it. If you're afraid of what a 50-year-old car needs to be safe - then maybe you're in the wrong hobby. Even if it needs everything like brakes, fuel, seals, etc replaced you're still ahead. Checked 912 prices lately?

I'd say you won a $10K lottery if you flip - at least. Then again, there might be something else under there...

[NYNick]

Originally Posted by SalParadise

I really don't understand why this is a question, unless we are looking at a 911 silhouette made out of plywood under that blue cover. Last time a saw a 912 for $10K under a cover was back in 2010.

Really, you've got to be kidding. Realistic price? Yeah the realistic price is $20K ++

If there is really a 912 under there you better get it. If you're afraid of what a 50-year-old car needs to be safe - then maybe you're in the wrong hobby. Even if it needs everything like brakes, fuel, seals, etc replaced you're still ahead. Checked 912 prices lately?

I'd say you won a $10K lottery if you flip - at least. Then again, there might be something else under there...

Yeah, like $20K worth of rust repair.

[Matt Monson]

Originally Posted by SalParadise

I really don't understand why this is a question, unless we are looking at a 911 silhouette made out of plywood under that blue cover. Last time a saw a 912 for $10K under a cover was back in 2010.

Really, you've got to be kidding. Realistic price? Yeah the realistic price is $20K ++

If there is really a 912 under there you better get it. If you're afraid of what a 50-year-old car needs to be safe - then maybe you're in the wrong hobby. Even if it needs everything like brakes, fuel, seals, etc replaced you're still ahead. Checked 912 prices lately?

I'd say you won a $10K lottery if you flip - at least. Then again, there might be something else under there...

This. A car like this would be so easy to flip on EBay to a European. They are much more willing to cut big checks for rust and paint on an old 912 than Americans. If it’s not a keeper it’s a money maker.

[2cam]

Thanks gents. I appreciate the perspective.

It sounds like the general consensus is that the $10K price is essentially a no-brainer. I'll just need to get a better idea of how bad it is and decide if it's a project that I'll have the time to take on.

I'm headed over this morning to have a better look at it with one of our local, long-hood gurus. I'll post more pics later.

Thanks again.

2cam

[2cam]

Had a chance to take a look at the car in more detail today. It's complete but rusty underneath as anticipated. Rust-through below the torsion tube and at the front A arm mounts. Also has rust in the floors and rockers.

A few pics attached.

2cam

[matt930s]

Looks very original. Bring $9k in cash and take it home.

Don’t believe all the garbage you hear about 912’s, they are coming into their own.

Just sold my 67 a few months ago.

MattR

[Matt Monson]

That’s about what I would expect. How was the interior? What’s the engine area look like? That mirror and fog lights are nice little period trinkets worth a bit.