I found a 1965 GTO on Craigslist within an hour or so from me and I am interested in going to take a look at it in person. I am pretty familiar with the 67 model year having restored one, not as much with the 65. He is asking $11,500 and I think that seems pretty high for its current shape, although I would like some collective feedback from the forum users on what you think it is worth based on the details provided in the listing - current worth and restored back to factory condition.
Also, besides checking the numbers on the drive train, should I be checking for anything special beyond body work, i.e. are there special parts that are not available aftermarket that I should make sure come with it? Thanks, Tony.
My opinion. Too high a price for what you are getting. Body looks solid with what looks like a hole in the passenger floor by the firewall. Really no big issues in looking at the photos, but photos always look better than in person.
The mention of the body "blasted" would be a concern to me. If not done correctly with the proper media, you could have panels that have enough waves you could surf on them - or under the paint there is a lot of bondo used to hide the warped panels and you will not really find it until you strip it down.
The 2 speed is not a big selling point nor a value adder. Most will want a 4-speed or even a 5-speed.
The engine is unknown. Could be good, could be junk. You can check engine code and make sure it has the original "77" heads and not something swapped.
Interior will need TLC.
When you add up all those things that you will need, engine rebuild, trans rebuild/replace, interior, brakes & suspension, glass, seals, paint & body, electrical, etc., you are looking at major money invested. The worth of the car is probably not going to be what you invest if you are considering doing any kind of restoration.
Would be more cost effective to simply purchase a running/driveable car that is turn key.
Plan "B" would be to resto-mod which would most likely give a better return if you were looking for an investment. Still will cost, and costs can be kept down if you can do most of the work. Those looking for original cars are fading away while more look for resto-mods - bigger HP, Tri-power, 4/5-speed, disc brakes, updated suspensions, etc..
$11,500 is too high in my opinion. $8,500 would be a more reasonable price, but still teetering on the high side for me. A no haggle bargain price in my book would be about $5,000, and then if it turned out to be a nightmare of a purchase, I could live with it and work with it and turn it into a matt black street/strip machine with gutted interior and roll bar to add to its look.