Help with putting a $$ value on a 78 (7 Viewers)

[jlm43]

There's a 1978 coming up for sale soon that's local to me and I'm trying to see what the current street value is. We haven't talked price yet but we would like it to be fair for both parties. Unfortunately, some of the details are vague but here's what I know. I'll attach pictures shortly.

1978 mostly original as far as I can tell. This would be my first 40 so I could be way off. Engine was rebuilt by a LC specialty shop in NH (still working to find out which one) about 7 years ago. Engine starts up with minimal effort, idles smooth, and it drives down the dirt road just fine.
Clutch engages with about a quarter throw of the clutch pedal.
Brakes are not great but they do the trick.
Knuckles are filthy and probably need a rebuild.
Dash seems to be unmolested but the pads have cracks in them.
Rust is starting to take over. The tub is shot and should be replaced, at least from the A pillar back.
Frame is decent but starting to get a bit thin in the back. No holes that I could see in the primary structure of the frame.
Body was repainted once in the factory blue but it's far from shiny. Honestly, I like the patina look on it. It does come with a new steel 3/4 tub. Not sure how makes the replacement tub so if anyone can shed some light on the tub, it would be great.

The short version is that I looked a 78 that runs better than expected but also has quite a bit more body rust than I had hoped for. I'd like to get a fair price range so I can offer something realistic. My end plan would be to repair the rust and drive it as it is while I putter on small items to clean it up. I have no interest in have a museum quality 40 at this stage in my life. Or one with a v8 and 37" tires for that matter.

Thanks for the help!

 

[jlm43]

 

[jlm43]

 

[Pighead]

Rust is starting to take over. The tub is shot and should be replaced, at least from the A pillar back.
Frame is decent but starting to get a bit thin in the back. No holes that I could see in the primary structure of the frame.

Hard pass

 

[jlm43]

 

[jlm43]

A couple of the replacement tub

 

[fjwagon]

The nice part about this project, it looks complete. It's perfect as a parts donor but that is not what you asked. The body and some parts have cancer and and will only get worse if not fixed. This year is not known for having rust issues like the 79-82 models. The rusty condition is deal breaker for some folks. If you willing to remove the body and prep the the frame from further rust...and repair the rust issues on the body it may worth the effort to save it. Anyhow, the condition its in drastically effects the price in my opinion. I bet if you're really interested call a body shop in your area or research what a half cost to replace. Knowing this will give you a better idea what you are willing to pay.

 

[kenjera]

Hard pass

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From my experience..... Thats a whole can of worms you're looking at....l can see its potential but do you really want to pay (lets say) maybe $3k+ buying it... not knowing what's coming at you down the track...you'll have to seriously consider how much are you willing to throw at it (or anything you're looking at buying) as each issue reveals itself and they will, if the chassis, tub and rusty mechanicals are any thing to go by that maybe upwards of $30k+...and thats not for a minted end game, more what you see, think and then discover needs to renewed for peace of mind is done.

 

[SteveH]

It does come with a new steel 3/4 tub. Not sure how makes the replacement tub so if anyone can shed some light on the tub, it would be great.

If that is a typical Colombian tub, it may require massive rework to get it to fit the hard top (and other areas). The 40 is so rusty that it would require removing the tub/body and extensive rust repair. I would pass on the whole thing at any price. Yes, it could be worse, but I wouldn't sign up for this huge a job.

 

[Skreddy]

If it was mechanically perfect (or close to it), runs, drives, etc. amazing, and YOU can do all the body and paint work without farming it out AND you have the time, money and talent for the project, then it could be worth taking on.
Price? If it were me (and I enjoy this and can do a project in that shape), $3000 unless I really was dying to have it. Then, in the end I’d be into it at least $15k minimum depending what I wanted the end result to be, doing all the work myself.

The patina look doesn’t matter because you aren’t keeping it when you replace the 3/4 tub and it’s not worth the effort to freshly paint, then replicate that look. So in the end, you will end up with a very nicely done cruiser that may be nicer than you want to drive around. If it doesn’t end up that nice, then what’s the point of going through all the work of stripping the whole thing down, replacing a 3/4 tub, bodywork, paint, new weatherstrip, cleaning and refurbing all systems while its apart, new upholstery; might as well go through the chassis while the body is off, etc.

My short advice: find a much better one with way less rust for $10-15k and enjoy it.

 

[BDSeff1fitty]

I would look at how much you could roughly get parting out the major components (engine, trans, tcase, axles, "used" new 3/4 tub, random odd and ends), and that would be my offer assuming you want a big project.

 

[centerlineseal]

assuming you want a big project.

This, ... so you need to steal it if you're going to "rescue it". As it sits, unsafe on the road (brakes, chassis/frame sketchy). Lowball it.

But, if you're willing and have another $10 to $15 K to drop in to it, ... go for it. Save a '40!