What's this 64 LeMans worth? - Pontiac GTO Forum
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post #1 of 22 (permalink) Old 03-23-2013, 10:55 AM Thread Starter
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What's this 64 LeMans worth?

Hey guys question (sorry if its frowned upon to ask or in the wrong place)

I am picking up a 64 LeMans and going to do some work and sell it.
Currently:
389 from a Bonny
Column shift 2spd
Was grenadier red on parchment. SOLID car ZERO rust, paint is patina'ed all over( pretty well gone but still red and worn to primer) (hood is patina'ed blue)
Needs full interior, but has bucket front seat cores.

Thinking about two routes - the 8 out of 10 cruiser route and the patina'ed quick and nasty route.

Cruiser Route:
Full Interior
Paint
Rechrome the bumpers
Weather strips
Detail the engine bay and really just make a NICE cruiser. Not a show car, but one you would be proud to drive around and looks very nice.

Rod Route:
Leave the paint as is - scour pad the whole thing
Wring the engine out a bit:
Heads (maybe), ignition, carb, exhaust, intake manny, cam and rumbly exhaust
TH400 swap
Rake the car a bit
Carpet, headliner and some simple trim, race buckets and harnesses
Nice set of wheels and tires

Both get me smiling to think about but I want to go a route that will have the most financial and time benefit in the end.

Now I know it will all depend on final shape etc, so its hard to say, but a guessed range could be helpful. I have been thinking it could be about $9-$12k on the cruiser and $8-$10k on the rod? thoughts? Thanks guys!

Last edited by Wob; 03-23-2013 at 11:47 AM.
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post #2 of 22 (permalink) Old 03-23-2013, 03:11 PM
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I think you have it pretty well figured out, all the way around. My vote is to paint it and go the rod route. Nothing wrong with a clean, stealthy LeMans. I'm not into the rat rod look.....I've been around long enough that when I was coming up, faded paint/primer meant you were stone broke, not 'cool'. Back in the day,'rat rods' were called "roaches". My father's generation called them "jalopies". Original patina is ok, if done right, though. But my vote would be to make the car a nice hot driver with either finish you choose. Easier to sell the painted car, but you knew that. There is a guy on the pyforums by the name of b-man who drives a wicked '64 GTO clone that looks like it's been abandoned in the desert for 30 years. Car has an absolute bada$$ look. Check it out..........
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post #3 of 22 (permalink) Old 03-23-2013, 03:21 PM Thread Starter
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Thanks! The problem is time and money going the paint route. If I do it myself, LOTS of time in prep and sanding etc. If I get someone to do it, I'm looking at $3-$4k, which if we are talking about a car that is worth $9-$12k could hurt margins a lot, you know? Thats why I was curious on value before I go one way or another. Its a column shift though, which I know hurts value too. If I could be confident in a $12k on the low/avg side then its one thing, but $9k with a $4k paint job - bye bye profit.

I could prep it and have someone else paint it but thats $$$$ for actually not too much return IMO since I'd still have to sand and buff etc.

Thats why I was debating just a nasty little 389 on a patina'ed ride. NOT a rat rod. Nice interior, no sky high shifters and janky stuff all over. But you are right, harder sell too. Its a tough one. I know there is money in the car for sure, its just which route holds the easier to stick to budget.

Thanks for the thoughts!
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post #4 of 22 (permalink) Old 03-23-2013, 08:28 PM
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An original paint job, though very very tired, is far more preferable than a car in primer. Primered cars are 'suspect', as in what's that primer hiding. Original, but worn out paint is honest, and shows a prospective buyer exactly what they're getting. I'd go that route. I agree, paint is super spendy, and painting a 12k Lemans costs just as much as painting a 24k GTO. You'd be money ahead to make it a strong reliable runner and sell it as a modified survivor type car. A lot of folks want a cool old car they can just get in and drive, go to the store, etc, and not have to worry about stray shopping carts and bird droppings. Go for it!
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post #5 of 22 (permalink) Old 03-23-2013, 09:54 PM
 
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Think your close on your numbers, in a good market. Right now the market is soft, so without being well finished i don't see 12K. But spring is buying season and you never know...still a very cool car, even if you have to drive it for a season or two before you sell.

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post #6 of 22 (permalink) Old 03-24-2013, 01:03 AM Thread Starter
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So what do you think on range currently Ingster? I'm not looking to sell in a few seasons, looking to churn and burn on this one. $9k painted was my low end guess, which maybe seems like your head too?

Its such a tough call on this one whether to paint or not.
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post #7 of 22 (permalink) Old 03-24-2013, 11:12 AM
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And it depends on the quality of the paint. A poor quality paint job can detract from the vehicle....it would just need to be stripped back off. On the other hand, a high quality paint job would get the car sold easily. My personal experience in your state and mine is that driver quality paint is around 10k.....and this level of work just matches factory finish but is often times not as good. Had a friend in Huntington Beach who was quoted 20k to paint his '65....he ended up going elsewhere for 10k, and it didn't turn out well. Just saying...if you have a line on a good painter/body guy you are waaaay ahead of the game.
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post #8 of 22 (permalink) Old 03-24-2013, 03:11 PM
 
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Cruiser Route: cost of car ????
Full Interior 1500
Paint and body work 3-7000 (cali more like GeeTee said)
Rechrome the bumpers 800+
Weather strips 300
Detail the engine bay and really just make a NICE cruiser. Not a show car, but one you would be proud to drive around and looks very nice. 500??
Incidentals - 1000

heres an option, get the body straight and ready for paint, take pics and logs to show the work was done right along the way spray final coat of flat black epoxy it will seal your work and look good....put up for sale and see where it goes.

hard to make a buck flipping these cars in this market, cost of parts and materials has not dropped with the market.

pics might help just going by your description, if you get into it and find some sins of the past bodywork and have to start welding all bets are off.

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post #9 of 22 (permalink) Old 03-24-2013, 08:27 PM
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Very good point made^^. The cost and value of these cars has dropped, but parts, materials, and labor are more expensive than ever. The TV is full of car shows where people flip cars for a profit, but it appears many corners are cut. I've never lost money on a car personally, but I've never 'flipped' one, either. I drive 'em for years and then sell for a profit simply due to the collectability/value going up. I still wish I didn't sell my '66 Coronet 440/4spd car in '96, but the 3k I sold it for was twice what I paid for it several years earlier. Good luck whatever you decide to do.........
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post #10 of 22 (permalink) Old 03-24-2013, 10:16 PM Thread Starter
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Thanks for advice guys.
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