Hot Rods What's it worth?? 1938 Ford standard sedan

I don't have pics but looked at a 1938 sedan(standard) yesterday that has been sitting in a one car garage for the last 50 years.. Original paint and interior with 37,000 miles and a V8-60 in it.. Couldn't get a real good look at it and it was dimly lit in the garage but it was very complete.. Hasn't run or been moved in 50 years and he wants 8 grand for it.. I offered $5,000 and then $5,500 and he said NO.. I'm thinking about one last shot at $6,500.. I know it's hard to guess at it's value, especially with out pics but what do you guys think.. I think the paint will clean up pretty well and the original interior may be usable.. That's for your suggestions... Oh, I would not use the original drivetrain....

 

If some old lady gives you an old car for free, whats it worth? If you sell the free car for $1500, is that what its worth? Whats it worth if your buyer sells it for $6000?
Whats it worth is always a dumb question to put on the internet.
Value is determined one occasion at a time and is never the same.

 

38 standards aren't very popular, but a cherry car like you describe could still be worth $8,000. Make sure to get a good look underneath before you buy. If the storage was slightly damp there could be a lot of hidden rust and make the value much less.

 

Milo, I think like most folks he's asking for $8k and would settle for $7500 which may or may not be a good value for you depending on frame rust, unseen body corrosion, etc. You're gonna have to see the car outside the garage if at all possible and look underneath as well. I know you've dealt with dozens of Model A's and it's good to see you with some interest in a fat-fendered Ford as well. Just remember there are more places on these for rust and corrosion to hide. Did it spend it's life there in Ohio? Where I am salted roads and constant humidity take their tolls on old cars. Good luck one way or the other. Aren't you at GG Columbus swap meet? I told a friend of mine to take a look at Mr 800 for me if he saw it.

 

The most critical place to check for hidden rust damage is on the frame where the back legs of the X member meet the side rails just ahead of the kickup over the rear axle. You need to get under it and poke at the side rails with a screwdriver in this area to check for rust penetration. Precision Coachworks makes repair sections to fix this area, but it is one of the big things in determining what the car is worth. Also check the cowl where the front fenders bolt on, as they are prone to rust in this area as well. All cars of this vintage are prone to rust in the interior and trunk floors and where the trunk floor meets the tail pan, but you can readily see these areas. Is it a 2 door or 4 door? Flat back or hump back? 2 doors usually bring more than 4 doors and flatbacks are more popular than humpbacks. You may prefer a 4 door humpback above all other body styles, but if that's what it is and you like it, it should be cheaper to buy. I always liked the '38 Standard front end styling with its Cord influence, to me it's the most attractive front end of all of the late '30s Fords.

 

Tell him you have to get a better look see....pull it outside.....

 

I probably wouldn't make an offer at all until I could examine the complete car. Fifty years in a damp storage facility could cause plenty of damage. Try to get it outside to look it over carefully, see if the engine turns,etc. Good luck in your quest.

 

The garage has a cement floor and seems dry.. The man is older than me(that's old) and It won't see the outside until it's bought.. I'm more worried about the wheels being locked up.. I don't know if wheel dollies would let it be pulled up on a flatbed.. One tire is flat and I don't know if it will hold air.. Do you think dollies would work?? I just hate to let an original paint and interior and missing nothing, 50 year garage find get away from me.. So I might offer him the $6500 and see what he says.. Any more thoughts on this Ford?? Oh and Don, I sold "MR 800" Thursday at GoodGuys check-in and that's why I'm ready to buy....

 

Get in there with a light and start crawling around before you lay out the $$$.

 

..................................................My loss,....but I'm glad you got what you wanted for it. Look forward to seeing the '38 if you do buy it.

 

So the lady won't shoot you a price? Maybe you want it more then she wants to sell it.

There is a complete 37 slant back in the class ads now for 7500 ( if I am not mistaken) and it is probably priced well.

 

It won't see the outside until it's bought..
Well that's a whole lot like a lottery ticket isn't it?
Maybe you win , Or the other thing that happens if you don't win.

 

Sorry I can't even think what that looks like, but a '37 Slant Back for $7,500 sure sounds attractive, and would look a whole lot better IMO. Bob

 

If the garage has power, take some flood light, halogen lights and extension cords, floor jack, jack stands, creeper, camera, breaker bar, spark plug socket.

Crawl around with the underside lit up, take pics, sometimes you can get a pic of an area where you cant get your head. See if it will turn over. Bring it home if ya can, sounds like you want to

 

X2!!!!!
If you can't roll it outside, at least give it a thorough proctology exam.

 

...........................................Ouch! Not sure I like the feel of that!

 

Trying to project value is a crazy game because as manyolcars said, it's one transaction at a time. That being said, I suspect the question gets asked often to help a guy either talk himself into or out of going through with a transaction. If I try to help folks work it out I present thinking points. e.g.; are you buying it to flip or is there something about this style/vintage, or this particular car, that has significance to your car lovin' life? If you're planning to fix and flip I wouldn't pay his price based on how I see that kind of car move in my local market (yours may be different, but not significantly I'd bet). When thinking about value, ask yourself (as realistically and dispassionately as possible) how long is the line of genuine, serious buyers for this particular car? Folks will argue with the following, but usually because they have a fortress to defend (in other words they're buried in something like it and can't face reality). '38s are pretty much at the bottom of the desirability list for fat fender Fords in general (I personally like '38 Standard coupes, but still think I'm in a minority). Within the year sedans are at the bottom, 4 doors in particular (you got a leg up there), and hump backs kick more out of the line. For all the romance of flatheads, racing history, blah blah, 60 hp engines are a big negative in a full size car.....sedans even worse because they're the heavy-est. Mechanical brakes shorten the line of potential buyers even more. I could keep going, but you get the point, and some of the details you don't know yet aren't known.

Now, if you were going to do this one up for yourself to putt around in for a couple seasons and get some enjoyment value out of it, then, maybe, there is a scenario where it could work. Probably the biggest potential bonus in this particular car is the front axle. Though not guaranteed, there's a high likely-hood that this has the coveted tube front axle. An extra bonus would be if it weren't pitted or damaged in any way. Given the right circumstances, and effort on your part it's possible you could trade that for a set of good hydraulic brakes AND a dropped beam axle, or sell it for enough to buy those parts. As you probably know already, stance and hydraulics increase the desirability when the time does come to unload it. If you already have a decent 24 stud available to transplant, or can get one cheaply (the perpetual dream) then that would be another desirable upgrade (of course you'll need to upgrade from the 4.44 rear too unless your only goal is to be the stoplight drags king). All that assumes that the body, paint, and interior are still in good, useable state. After all that it probably would still be a reach to sell the thing for much north of $10k unless you worked real hard and got lucky.

Your offer isn't out of line from my point of view, but I'm not the seller. And it sounds like he hasn't actually given serious effort to selling. If he has, or when he does, that's when he'll maybe figure out that his ask is too high for what he's actually got vs. what he thinks he's got. Once he "learns" (if he does) that he's got to come down on the money you may be his go to, or, more likely from my experience, whoever is standing in front of him at the moment the light in his head goes on will get the deal.............even if it's lower than your offer. The "Bird in the hand....." deal.

 

I couldn't agree less. The "whatever you're willing to pay" answer is a standard reply that really means, "I have no idea, but I need to put in my two cents worth." The same guy will have an opinion after you've bought it. "Oh Dude, you scored" or "Wow, you got ripped off." Everything has a set value. That's what NADA and Kelly do for a living. They may not be spot on, every time but they are in the ball park. Ask someone who deals in a specific car exclusively and they would be able to tell you the most they would pay and the least they would take.
Back to the car. I don't think it is over priced if it checks out as far as rust and other damage is concerned. If it will clean up, run, drive etc., I'd pay her price,
BTW, I might be wrong, but I thought all 38 Standard Sedans were humpbacks, being carryover bodies from 37 and the Deluxes were the new 38-40 bodies

 

I haven't crawled under it yet but the body has no rust, a few scratches but no rust.. Floors that I can see are solid with some paint still on them.. Interior is complete and usable as is and dash and garnish still have the wood grain and will clean up nicely.. I'll have to check the front axle as that could up my offer price.. A 37,000 mile V8 60 with trans has to be worth something( midget race cars).. I think I'll try to go back Monday and take some pics and check the axle.. All 38 standard sedans were humpback and the standard grille is really growing on me... The 37 in the classifieds is $8500 and not nearly as nice as this 38.. I think I'm talking myself into this one...

 

Personally,I like the 38 Ford sedans,a solid body & frame with original interior & paint is not something you find everyday.

Good luck. HRP

 

yep, you've got all the signs................

 

"I'm talking myself into this one" yep, got $$ burning a hole in your pocket after a recent sale

 

If you keep low-balling the seller you might end up losing out on the deal.

Offering up 90% of the asking price won't insult the seller and getting it for that would be a good deal for both of you. Being offered just 62.5% of the asking price at 5K wouldn't even make me feel like negotiating any further with you if I was the seller.

From your description it seems that 8K is a very fair asking price for this car.

 

"Not rolling out 'til it's paid for in full" sounds like "Vote it in, then read what's in it..."

This old seller should run for Speaker of the House.

 

take cash when you make the offer,seeing the money on the hood usually makes something happen. HRP

 

Take it in $20's not $100's. it always looks like more than it really is.

 

All this talk and speculation has taken my mine off of selling my coupe.. Coupe, what coupe?? Now let's see; 4" dropped axle with 4-bars for the spring-in-front suspension, dual leaf springs in back, V8 5spd, hydraulic brakes, wide fives with no caps.. I'm getting excited and I haven't even bought it or may not even get it... Oh well, the hunt is exciting.. More to follow....

 

Yeah,you sound like me,I always get excited about a new potential project! HRP

 

That's half the fun...............building the car in your mind before you even get started.

 

My brother bought a '38 sedan with V8 60 in 1954. The rear end was a 4.44:1 ratio, which might be worth something as you upgrade the drive train.