I have a 1968 LeMans convertible that I bought many years ago from my wife's step-father. I drove it for a bit and like an idiot decided to try and "restore" it. Well it ended up out at the farm in pieces and has since been moved to my garage where it has sat for a few years. Needless to say I do not have the time or energy to complete the project. I have all the parts unfortunately they are kind of all over the place and I would need to get them together. What I am asking is what should I ask for when selling this vehicle. I understand it would be sold as a parts car and that would lower the value but would $1000 be unreasonable?
Hard to say without photos. I think $1,000 is perhaps low even in pieces. I would not expect someone to purchase the car to restore as original. At best, it will be a "resto-mod" of some sort and most likely become a GTO convertible clone.
Options can really increase value depending on what was ordered. I would order the PHS documents for your car which is the factory build sheet that can confirm such options and validate the original drivetrain. PHS documents are always a good selling point so the buyer can verify what he/she is getting.
The things which I would be looking at is the condition of the frame - how rusty/pitted. The convertible frame is boxed and could even be desirable for anyone wanting to add the stronger convertible frame to their 2-Dr HT or even 2-Dr Sedan. The convertible frame could be ordered as an option on the HT.
Floors, passenger, trunk, and corresponding braces. How solid? The more replacement needed, the more the value drops.
Rot found around the windshield, windshield pillars, & lower windshield at the dash can require a lot of work. How solid in these areas?
Next are body panels. Convertible uses unique quarters and these are not reproduced yet. Lower quarter or even a HT quarter can be used to patch in a pinch. Outer wheel wells seem to be different and are not reproduced.
Condition of the convertible frame is important, top is not. Does it work and is it complete with motor, lines, & cylinders?
Assume a 350CI and 2-speed automatic? Anyone who buys the car will most likely install a larger 400, 455, or the millenium crowd LS3 conversion. The 2-speed will also go the way of upgrade. So the engine/trans does not help value in the sale.
Most parts can be had either as original replacement or aftermarket.
That said, if really solid, and mostly complete (even though in pieces), I think I would go $4,500 on a convertible builder and then drop down from there. If it is in tough shape, being a convertible, it can still be a desirable save with all the parts available on the market to include aftermarket frames and complete floor pans, I don't think I would go any less than $2,500 as a rock bottom fast sale price - it is probably worth more than that IF someone were to purchase it as a parts car.
And I would not advertise it as a parts car because you want to try and sell it as a project car. This will put the "vision" of a completed and driving car in the mind of the buyer.