Lost 56
 

I saw this truck the other day so I went to the bank and drove back there with 3000.00 and asked to see it.
This truck was parked running and has been setting there for years.
It looks like every thing is intact, NOT a dent in it except the tail gate.
Would make a nice one.
How much do you think it's worth, I offered 3K and they act like it's worth a million $
Looks like sap, dirt, mold and everything is on this truck

Re: Lost 56
 

https://i.imgur.com/x43xMDr.jpg

https://i.imgur.com/aR3ga3u.jpg

https://i.imgur.com/yPOojaM.jpg

Re: Lost 56
 

that would make the plastic bag in door worth at least a grand
imo, you started out to high and now have no wiggle room
if you go back, tell them the $3k is a 1 hour offer. once you leave, you are gone
they don't exactly have a rust free survivor. it'll need everything

Re: Lost 56
 

Real patina is expensive. I could see that fetching over double your offer with a quick power wash and proper advertising. Ask for their number ($), then you know. Not to mention a BBW GMC short bed.

Marc

Re: Lost 56
 

From what I can see in these pics the body looks to be pretty good with no big rust thru in the usual spots and body lines line up. The bumper appears to be all there and its chrome looks to be in decent shape and other exterior trim looks intact as well. You're not in the rust belt but you may be down where salt air may affect some things. If the lower hinge pockets, floor and around the windshield and back window are in good shape you'd be looking at something probably worth more than what you offered. Like said before, see what they'd be looking for it and go from there.

I honestly think that is worth more than $3k as it is. The front chrome alone can fetch a pretty penny. It was only made a couple years and it isn’t reproduced anywhere that I can see.
Posted via Mobile Device

Re: Lost 56
 

I'd say it was an honest offer in Mississippi. About half of what a flipper would ask in Michigan or the rest of the rust belt though. Bad part is that 5 years from now and after five more years of watching pickers and the flipper shows and watching those Texas street machine builders pay exorbitant prices for hulks the truck will sitting in the same spot and the guy will swear it is worth three times as much.

The "great patina" nonsense doesn't add a penny to the value for me except that the seller isn't trying to hide anything with a quick coat of primer or cheap paint as they did back in the 70's. If that truck had been put up for sale in the 70's they would have spent half a day sanding it, shot on a couple coats of primer and put it up for sale or shot a quick and nasty original color paint job on it with 25 buck a gallon paint.

Still I am not going to tell anyone he did wrong by not offering more than he felt it was worth to him at the time and more than he felt he wanted to spend. Not all of us are Daddy Deep pockets with huge amounts of expendable money. Even some who can well afford it don't throw money around to be throwing money around.

Re: Lost 56
 

Don't know the value where you are. It appears pretty solid, if it is, 3K won't buy in California, 5k would be a good starting point.

Re: Lost 56
 

Let me know if they'll take $5k! That's a sweet ride.

Re: Lost 56
 

I think having nothing to hide, on bare GM steel, and seeing zero dents is worth quite a bit...and lemme tell ya, that "great patina" nonsense doubles the value out here in CA compared to the same truck in primer or a crappy 30 year old paint job. It looks awesome, I wish I had a crack at that beauty with my powerwasher!!

Patina = time. Anyone can have something painted, but adding character takes time, and time is expensive.

Re: Lost 56
 

Nice truck! If you're looking for a bargain, that ain't it. $3000 is a minimal offer for that beauty. If you want it, offer 5. But I could see it going for 10 as is.

Re: Lost 56
 

Let me tell you the story, I asked one of my friends about the truck and he said they won't sell anything, and don't want anyone on the property, he new them for a long time so I got him to go with me. She said her kids won't let her sell anything so that is why I brought 3K to show them I wanted it with out low balling them ( I did not know what it was worth and I did not look at it until I got there), I didn't know what year or condition it was in.
ogre--thats why I started out high
youngrodder--what does BBW mean? GMC
57tailgate-- No salt in North Mississippi
Thanks for the info guys I will try next week with 5 or 6K

Re: Lost 56
 

BBW= Big Back Window

Re: Lost 56
 

BBW=:metal:

Re: Lost 56
 

Thank you....some people get it. Patina is hot right now. I'm not saying that because of my current build. I have a friend with 30+ patina cars and trucks. He has the means and he is buying up any cool patina he can find if it has the right look. He has been giving me an idea what this stuff it going for. He buys from all over the country so he has a good idea of going rates.

Marc

Re: Lost 56
 

Good luck. Money talks, but some people are crazy so that is hard to negotiate with.

Marc

Re: Lost 56
 

Not much to compare to but it looks like, as an unrestored and not running truck, that should be a $4k to $5k buy in that area. The only thing that could change my guess is if trucks sell for more than cars.
https://jackson.craigslist.org/d/car...searchNearby=2

Re: Lost 56
 

I am located in south Ms. Based on the pics, that truck could bring 5K in our area. I base that on my 56 truck I bought a couple years ago in Ms. It really doesn't matter what the fair market value is, if the family doesn't want to sell. I have been there many time sin the past. Until they give you a number it can't be had.

Take a pocket full of money, try asking "if you were able to sell, how much would you have wanted for it?". At least you get and idea of what they think its worth.

I NEVER make a offer on someone else's property. You will either pay too much or you will make them mad and never be able to buy it. Just my past experience.

Good luck

Re: Lost 56
 

Thanks for the info guy's

Re: Lost 56
 

Even at 5k may take another 25 to 35K to finish it right. Inflation in parts and labor are about unpredictable right now as is availability. Make sure your willing and able to meet the commitments before you get into it too deep.

Re: Lost 56
 

Right you are. I've built several hot rods. Ten years ago I always budgeted $10K to buy all the incidental components - shifter, throttle linkage, plug wires, gas tank, radiator, etc. Now it's $20K.

Re: Lost 56
 

If you adjust to current costs its scary. If you cannot do everything yourself (and aren't wealthy} its prohibitive. Local auto shop just upped rates to $135/hr in part to turn work away. They told me so. They cannot handle workload and down to 2 older mechanics and 3 days a week. Between welfare checks and potheads they cannot fill positions. Also finding a new car is forcing folks to try to fix what they have. All this makes restoration tough.

Re: Lost 56
 

Not going into to much detail, but I'm in my 4th year on a 56 chevy truck, everything has been mocked up and doing body work. Only need a few things, bucket seats and a drive shaft. I posted a few mod's if you want to se them click on my post from my name.
The GMC body panels would have been transferred to my project. Thanks for the info:metal:

Re: Lost 56
 

All I am going to say is that you made an honest offer cash green money in hand and I applaud you for that. We do what we can do and some times we win and some times we don't.

The value on something like that beyond what it actually is depends a lot on the likes or dislikes of who ever is thinking about buying it. As I said before "great patina" adds absolutely no extra value for me except for the fact that I don't have to worry about what is hidden under fresh primer as we did in the 70's. I would be looking at it for the body work I didn't have to do and the panels I didn't have to replace. The fools who pay extra for "patina" will be crying the loudest when the fad fades out and the resale of those rust buckets drops a ton.

Re: Lost 56
 

I already have more in my Hot Rod than I will ever get back but I did not expect to get my money back.
Happiness and Hot Rods cost money

Re: Lost 56
 

I think this is one of those rare finds that needs the full treatment!

Re: Lost 56
 

I have to agree with 100%
Vic:metal::metal::metal:

Re: Lost 56
 

I fully agree, but the wheels on the economy (an everything else) have come off making even our hobby difficult if not approaching impossible. Was asked to help plan the restoration of a 55 first series truck for a friend who admired my 54. I tried to get parts lined up but not only were they 2x+ budget but prices wern't guaranteed on many of them. Not sure where this hobby is going.

Re: Lost 56
 

I think it depends on what you're trying to achieve. If you want a shop to do a restoration for you using repops, then you're 100% going to lose money.

If you are dragging a truck out of a field, searching Craigslist for parts, and adapting things from wrecking yards, then you might break even or even make money. I promise that many people are buying old cars and trucks, fixing them up, and selling them for a profit. Some people just want to get in and turn the key, not a wrench.

Re: Lost 56
 

WOW, I think you were very generous, but like OGRE said, you've got only so much time and I'm done. How's the frame??

Re: Lost 56
 

I don't know

Re: Lost 56
 

If potting soil and stuff is included it might wind up as a planter? Made one last attempt to price out parts for friends 55 first build and got a real shock. Loaded stuff into "cart" on some well know parts places and they either upped the price or went the "backorder" route before we had a chance to order. Won't be buying from places like Summit anymore as they are outrageously expensive and their shipping is completely unreliable. Spent 62 minutes on hold with Summit "Customer Service" and gave up. Think project is on hold for the duration.

Re: Lost 56
 

Man I love the look of that one as it is. Hate to say it but if it was as solid and complete as it looks in the pics would have gone higher and kept the patina look and drove the wheels off it

Re: Lost 56
 

That's a sweet find, I'd give $5k and still feel good about it...regardless I hope you can make a deal with them, or at the very least it doesn't rot for another 30 years.

Re: Lost 56
 

Guess final note on friends planned 55 first is in. Projected cost of labor and materials was $18K in mid 2020. Todays estimate (assuming parts are even available) is now well over 30K and climbing. If I was starting my personal project now i could not come close to finishing. Seems the US is in full reverse and accelerating. I have advised him to part what he has out and look for a reasonable completed AD if that is still possible.

Re: Lost 56
 

Each of our trucks is worth whatever some individual is willing to pay. A few are wealthy enough to pay almost anything asked if they want it bad enough - witness auctions like Barrett Jackson, Sotheby's, etc.

Other times a guy can't get a reasonable price for his truck because the people that have seen it just don't have the money to make a competitive offer.

As for getting out of it what you put into it? That is laughable. I'd venture to say NO ONE gets the dollars they have into theirs. Only if they did all the work themselves and then that entirely discounts labor hours. If they day comes I decide to sell mine it'll almost surely be at a "loss" but a loss I'm willing to take to move on to something else.

Re: Lost 56
 

Now its not about "getting what you put into it", its rapidly rising cost keeping many from even playing the game Add in rising costs like shipping sales tax and its not looking good for any future endeavor.