Thinking of selling my 69 T coupe

[blackbird225]

Friends,
The time has come to part with my 69T Coupe. I have a few people interested, but before I set a price, I wanted to check here. Here is the best run-down of what it is.

• The Good...
• Almost - seriously - zero rust. A tiny bit by the battery. no lies
• Original interior in pretty nice shape, except the rear map pockets
• Repaint by real shop, original Bahamas Yellow, Galsurit 1 stage - zero filler
• Motor rebuilt by Supertech performance in CA
• Car is legit CA car (no rust)
• Never been in an accident. Proven by restoration pictures
• Has 74 dated real Fuchs, with 69 dated steelies included
• Headliner and all seals replaced
• Front windshield replaced (the best Stoddard sells)
• All other glass original
• Original exhaust, nice shape, repainted with correct stoddard gray
• Flappers rebuilt, perfect shape, all new gaskets
• Rear lights correct, 1968 marked Bosch in mint shape
• Front are original, but not perfect
• Pedal cluster redone with brass, etc
• Original wooden floorboards, driver custom made to exact copy
• Original working radio
• Recovered orginal leather wheel.. very finely done
• Gauges redone by NHS
• New headliner
• All functions work, including wiper system, lights, etc
• New correct drive shafts
• New correct Perlon carpet set(took forever to get done)
• High end sound deadening pad before carpet
• Powder coated engine HW
• Powder coated most of the metal HW which was black. Looks perfecto(Satin)
• Elephant or similar high end fron sway bars. Cant remember but have receipt
• of course, new brake lines everywhere. New front rotors. All new bearings everywhere.
• new wipers
• New washer pump motor,lines
• New carpet in trunk

• The not as great
• The drivetrain was missing when I bought it.. Just gone
• The current motor is a high compression 2.4 liter with 2.2 head from a 70
• PMO 40's
• E-Cams
• Solid tensioners
• 79 SC front struts.. i tossed out the Konis in 2004? I know
• rear banana arms have Elephant monoballs
• 79SC adjustable spring plates
• All new T-Bars all around
• Seats are fine but not concours, still good squish factor
• Rear seats are fine but need new stuffin
• overhauled the front suspension, but didnt paint it black, had the a-arms and x-member CAD plated - yeah, dumb, but could easily be painted. Wont ever rust with the cad plating. I was young when I made this move. No one sees it, but its not correct.
• One battery, but could easily be returned to double setup

I have nearly every receipt. The total is way over $50k over the last 10 years. In fact, Im afraid to add it up.

Why sell? It's just too nice for me to enjoy like I had envisioned when I bought it in 2004. Afraid to really take it anywhere and wouldn't dream of actually leaving it in a parking lot. Kinda not my thing any more.

So. I was thinking that it's worth $60k because that's what I've seen other cars go for, but maybe I am out of touch. It's a nice coupe restored by people who care, not a shop who flips beaters with new paint. This one was restored by someone who was working for free- out of love, not profit. I know the non-matching drivetrain kills some of the value. Returning it to exactly original would be nearly impossible without finding that case and transmission. It's still gotta be in CA somewhere.

Before I list it, what is it likely worth? It's really beautiful. Not perfect, but a candidate for perfect in a lot of ways. Car was not body-off, which i think detracts from value. so, the undercoating is original everywhere. Really no rust.

[blackbird225]

[blackbird225]

Also.. I have the engine compartment sticker set. Just haven't installed yet. The good metallic ones too, not the cheapo fakes. The car looks better than the pictures. These were quickies that I snapped just before the sun was down.

[matt930s]

I really like your car. I think $60k is at the strong end. There is a similar car in the for sale section being sold by porschenutt for 55k.....Very original except drive train..


MattR

[blackbird225]

Originally Posted by matt930s

I really like your car. I think $60k is at the strong end. There is a similar car in the for sale section being sold by porschenutt for 55k.....Very original except drive train..


MattR

Thanks Matt. That's about what I was thinking, but hoping for someone to say.. "easily $100k" hehe Oh well. I have $55K in it without even adding up the receipts. What I want now is a 41-44 Kübelwagen. I would trade keys for a nice one here in the states. Those aren't easy to find either. Most likely, this car will return home to Germany. I have an offer of $60K there in a partial exchange for a rough Kübel. We'll see what happens.

Thanks again

Michael

[NYNick]

Originally Posted by matt930s

I really like your car. I think $60k is at the strong end. There is a similar car in the for sale section being sold by porschenutt for 55k.....Very original except drive train..


MattR

Yes, but that car is not running, and hasn't run since 1994. The motor is an unknown, and there's no way it's worth $55K.

I think $60k is about right.

[CountD]

I don't know if your car or your Zündapp KS600 is cooler.

I have a Dnepr and a '56 Ural 72 in pieces I brought over from Mongolia.

Really nice car though. Must be hard to sell. Color is awesome.

Oh, and I would take some really awesome photos of it and put it on eBay for $80K. Who knows? It's always easier to go down...and no doubt it was a labor of love.

[blackbird225]

Originally Posted by CountD

I don't know if your car or your Zündapp KS600 is cooler.

I have a Dnepr and a '56 Ural 72 in pieces I brought over from Mongolia.

Really nice car though. Must be hard to sell. Color is awesome.

Oh, and I would take some really awesome photos of it and put it on eBay for $80K. Who knows? It's always easier to go down...and no doubt it was a labor of love.

Count D,

I also have a Zündapp KS 750. Another labor of love.

One thing that concerns me is: say I sell it for $60k or whatever. Will that check that arrives in the bank be reported as income to the IRS? I mean, I've already been taxed to death by the IRS all along as i slowly increased its value. They will no doubt want 'their cut'

[Ferraripete]

love the color. what a little jewel!!!

[timchar]

Originally Posted by blackbird225

Count D,

I also have a Zündapp KS 750. Another labor of love.

One thing that concerns me is: say I sell it for $60k or whatever. Will that check that arrives in the bank be reported as income to the IRS? I mean, I've already been taxed to death by the IRS all along as i slowly increased its value. They will no doubt want 'their cut'

I'm sure you have "tons" of money in restoring this beautiful car. Also what you purchased car for. Check with accountant, you should be ok. Tim

[Ferraripete]

Originally Posted by timchar

I'm sure you have "tons" of money in restoring this beautiful car. Also what you purchased car for. Check with accountant, you should be ok. Tim

this is a big issue for me right now. I have been trying to figure out the way people are "actually" handling this issue of capital gains. I know people are quick to say if you buy low and sell high...you gotta pay. I just not sure many truly practice what they preach?

[G450X]

I am also interested on the tax implications.

I do most of my own work, can I just document it with parts receipts and "pay" (log it) myself a per hour labor rate per job (like a shop) and subtract that from the selling price to come up with the capital gains tax, or do the receipts have to be from a shop?

I'm not sure how to properly handle this issue if I ever decide to sell it in the future. I guess there is no way to get a tax break in "depreciation," but the IRS sure wants "appreciation" taxes paid...

[timchar]

Originally Posted by Ferraripete

this is a big issue for me right now. I have been trying to figure out the way people are "actually" handling this issue of capital gains. I know people are quick to say if you buy low and sell high...you gotta pay. I just not sure many truly practice what they preach?

I know if you have had the car longer than 1 year you pay long term capital gains. This could be better depending on tax bracket and other possible offsets. I would find an accountant who has some expertise in this area. Uncle Sam always wants his "fair share". Tim

[blucille]

I would say it will sell at 60k pretty quickly, if you want more, you could probably get it, but the sale will take longer. The tough part right now is the time of year. In the spring, you might be able to get 65 or 70k for it.

BAT auctions would serve you well.

[GT3STIG]

I'd say at least $90k.

[Christien]

I think $60k is a quick-sell price. It's in the ballpark, but the at the low end of the scale.

[timchar]

Originally Posted by GT3STIG

I'd say at least $90k.

That's getting into matching numbers territory. Tim

[blackbird225]

Originally Posted by Christien

I think $60k is a quick-sell price. It's in the ballpark, but the at the low end of the scale.

For anyone interested. I sold it to a guy in Munich for $65,500 in March of 2016. I had several offers in that territory, but nothing like $90k. Nice car, probably worth more, and I had at least that much into it, but oh well. I bought a 1942 VW Kübelwagen, the original Ferry Porsche creation.

What's crazy is, I just wanted to move it at the end. Was taking too long. So, I offered it to a guy, locally, for $55K - he turned it down. The very next day. I sold it for $65,500. Never be desperate, hold out just a little longer.

[cassisrot]

The Bahama Yellow is worth another 5 grand!!!

[KNS]

Your comment about it being too nice to drive reminded me of something a glass installer said while putting in a new windshield in my car.

My ‘84 911 paint is nice but has many rock chips and some little knicks and scratches. I mentioned to him that I’d like to paint it someday. He said “Nooo!, then you’ll be afraid to take it out and drive it and it’ll just sit”. Of course he was right. I will not repaint it.