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Discussion Starter #1 (Edited)
So a family friend has a '71 GTO and we have been discussing price details and we're kind of at a road block. Here are the details... unrestored 71 GTO, Sheet metal is about 8.5 out of 10 with little surface rust, paint is 2/10, Interior is about 6/10, Needs fuel pump, factory A/C car, 400ci, TH400, Numbers Matching, Needs tires (flat and dry rotted) and wheels need refurbished (cragars), AM/FM radio, needs battery. I guess my question is what would you all consider as a serious offer? This is an all original car that has been stored inside (non climate controlled). I plan to print this thread and show him to help in my negotiations. Ive done the eBay thing and found a little bit out, but I want this guy to see what true GTO guys would consider paying. I know its hard without pics, but Ill try to take some cellphone pics and post on here in a day or two if I can arrange it. Thanks for the help

-I must add that it comes fully loaded with a yellow jacket nest in the trunk too!
 

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Sounds incredible. Just surface rust, nice. Remember, a cheap paint job is worse than no paint job. Cheap paint and primer hide sins, you know "exactly" what you are getting. How are the floor pans and trunk? How much does he want for the car, tell us, and we'll tell you if its a good deal or not. Is it a 242 vin car, check it out.
 

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IF it's a 242 car a REAL GTO, 71 with those options, numbers matching, all original with reasonable mileage. All things considered, the condition as described. Probably in the 5-10 grand range. If they cleaned it up, put wheels and tires on it, got it running good, 10-15K.

But a car is only worth what someone is willing to pay for it. That's the bottom line.
 

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Discussion Starter #4
Yeah its a 242 GTO, 94,000 orig miles. Floor pans and trunk look. I our negotiation have stalled at about 6000. Its not that I wont pay more, Its just I know hes still got some giving room. Heres some pics...







 

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Looking at the car in those pictures it seems pretty solid. Something to consider, the 400 engine in 71 was the mid grade (455 was the big dog GTO motor) and those pics don't show the under side, frame, trunk, floor boards etc.

So that said $6000 is a fair offer.

If it's all good (as solid as it looks at first glance).
If it could be made to run easy enough.
Well then they have a right and a precedent to ask a bit more.

Is there a bidding war? Are other people wanting to buy it?

IF NOT, $6000 sounds fair to me. :cool
 

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why is the front end so high up?? are the rear shocks gone?? it does look solid and complete though - definitly in need of some paint and tlc, hows the cowl under the windshield?looks rough from the pics. when was the last time it ran?? You may have a lot of work to do to get it going- $6-$8 seems fair if you are sure it will run
 

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Let me put it this way. If you are unsure about it for $6k, tell me where it is and I will come pick it up Labor Day weekend. That is a fair price considering the shape its in.
 

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Discussion Starter #8
Reason for front end being high is that it is on blocks because the tires are flat and doesnt want rims bent.
@thumpin Im the one at 6k, Its just that he wants a little more than that. We're negotiating im at 6k hes at 9k.
Cowl under the windshield is solid. The last time it ran was 7 years ago, according to him.
There is not a bidding war going on, for if that were the case Id say throw it on ebay. He just a friend of the family and he knows I like GTOs, so we started talking.
 

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Whoa, hasn't ran for 7 years...yowza :eek: well yea 6 grand is fair, that motor might be (and prolly is) frozen from rust and oxidation. IF it is that adds a new dimension to what needs to be done to the car. IT WON'T RUN in it's current condition. That means 99% chance full rebuild including machine work is needed and that lowers value.
 

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6-7K max if you can turn the motor over by hand (balancer bolt). And that's if the body is reletively rot free and no parts are missing. Look at what similar GTO's in running condition are going for and use that as a barganing chip.

Beware of sellers with Barrett Jackson syndrom, it's usually incurable and symptoms are delusional behavior and lack of reality.

Drove my 69 4 speed home for $1500.... in 1993. That was many $$$$$ ago :lol:.
 

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I drove my 70 home for $1000 back in 94, and the 72 for $175 in 86. Numbers matching helps, but it isnt a RA/HO/SD its just a common 400 GTO, like my 70. Nobody would be willing to pay what I want for my 70 though, that thing is like one of my kids.

$9k is high, especially now that the market has dropped on these and people arent paying stupid money for them like they were just 4 years ago. If it ran, had nice paint, and it was all there then sure. Needing as much work as the LeMans I just dragged home, that drops the value quite a bit. Its not a parts car, but it needs almost everything, and sitting for a long time doesnt do cars any favors. I know first hand about that.

I might go $7k or $7500 but like they already said, you can get a nice running and driving earlier GTO for just $11k to $15k.
 

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I just bought a 1970 gto wth 84000 original miles and all original sheetmetal for $15000. it has a rebuilt YC 455 not numbers matching(came with 400) and rebuilt turbo 400. interior is in grat shape and the body is awesome minus it needs to be painted. Arizona car.



 

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I wouldnt pay 9k for that.. I've seen near mint 69's/70's sell for 11-15k at car auctions.
I just bought a 1970 gto wth 84000 original miles and all original sheetmetal for $15000. it has a rebuilt YC 455 not numbers matching(came with 400) and rebuilt turbo 400. interior is in grat shape and the body is awesome minus it needs to be painted. Arizona car.


My point exactly, sort of. Nice car bro. :)

I get muscle machines magazines and at the end of all of them are cars sold at auctions. Every awesome looking GTO 68-70 sold for nomore than 15K unless they were all original judges or something. These were nice cars, nicer than my car nice. Lol...

I basically paid 4k tops for my '70 Lemans and its in head turning shape. :D
 

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I'll chime in since I just bought a 71 and I have been researching their prices extensivley on line. I think 6k might be a fair price for the right person. If you want the car in cruise-in/show condition, you are in for a lot of time and money. From the looks of the car, I would say there is a lot of work to be done and you don't know what is going to need to be done with the engine. In the past six months, several restored, #s matching 95% cars have gone for 14-17K. There was a beauty just a few weeks ago that got one single winning 14.1k bid. So subtract out 6k from, say 17K for a restored, nice show car. You are probably looking at dropping at least 10 k or more to get her sharp. Fuzzy math at best, but count on a lot of extra money.

I paid 11k for my 71 a few months ago. Matching #s, restored 10 years ago, new exhaust, newly machined engine, new brake system, new Rally IIs, re-done upholstry..
At the time I thought I stole it.. But once I got her home, and you start to crawl around, there is still a project or part to buy around every corner. I am still estimating that I will have to drop 5-6k to get her looking tight for shows, cruise-ins etc. And decent parts are not cheap for a 40 yr old muscle car.

@Alky- I'm stil laughing at the Barrett-Jackson analogy! B-J is either the best or worst thing that has ever happened to classic cars.

Mine that I got for 11k. https://picasaweb.google.com/awayjig/1971GTO#

My .02

Good luck,

Dan
 

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Hotrod- dollar for dollar I just love your blue lemans at 4K. Thats the best 4K any guy would be proud to have in his driveway!
 

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:agree HotRod and i still like that stripe...:D, Dan is on the money, 10K more to get it in tip top shape and thats not including paint.
 
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