Join Date: Feb 2017
Location: Gainesville, VA
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Yep, the old adage - something is worth whatever someone else is willing to pay for it... Not much help, I know.
But - I do have some experience that may give you some food for thought. This past spring, I bought a 1968 GTO and paid 22k for it. The car in your pic - the interior color is almost identical to mine.
My big concern was sheet metal. Since I am completely lost with body work, I needed to make sure that was buttoned up. On the mechanical side, I didn't want to deal with pulling an engine, so I wanted to be reasonably sure there were no internal engine issues.
With those two boxes checked off, my 68 was exactly the year I wanted, and was "done" to the point I wanted it.
To me, that was worth 22k.
Now, I had been looking at another 68 and the guy wanted 36k. The big difference between the 36k and my 22k was that the 36k car had documented frame off bodywork done, while mine was anecdotal. But the 36k car was otherwise very similar - darn close - to my 22k. It was an AC car, but it was disconnected and the parts were in the trunk. I think there is a thread in here somewhere about that - I had asked the SAME question you did. :-)
Lastly, something you need to wrap your head around...the price you pay is not really the price you pay. It is the price of admission! There will be things you'll want or need to replace - this is a certainty.
In the past 6 months, I bought a wiper motor, side view mirrors, new Ram Air manifolds, new oil pressure gauge, new h20 gauge, and just yesterday, a new Q Jet carb and threw in some engine mounts onto my Summit order.
All that to say, if the big boxes are checked, and it is the car you've been looking for (I searched for 2 years!) then I think 16k is a good price - actually pretty dang good compared to what I paid...