Projects Looking for some input on value of a "barn find" 58 Olds Super 88

Hopefully this is the best spot for this.. apologies if it isn't!

I recently started shopping for a late 50's-early 60's GM to tinker with and make do some mild custom mods to. After some looking I started setting my scope on an "affordable" 58 Olds 88 driver type project for a little while now.

After passing on some really rotten cars, an acquaintance tells me he just pulled his Aunts 58 Super 88 out of her barn after 10-15 years of sitting. The price he told me went up a little overnight and I really want the car, but want to make sure I'm in the ballpark for value. If the weather clears up I'm planning to look at it Friday night and give a deposit if it's as good as it sounds!

Any input on a guesstimated value of the car in the current condition and in a daily-driver type condition would be much appreciated!

Details he's given me so far as well as pictures are below.

58 Olds Super 88
5X,XXX Miles
2nd owner since the 80's
very nice blue on white interior 8.5 out of 10 he says
all original paperwork
engine isn't stuck and turns over, but needs some maintenance to get running. He is 100% sure with some minor work it will run. I may stipulate I need to hear it run to purchase..
all chrome/stainless intact with only minor dings in some chrome
no major body damage or rot, small bit of rust in one floor pan (I can weld and fabricate so this doesn't bother me)


Any ballparks would be helpful. Below are all of the pics he sent me.

 

Also if any Olds gurus can give me any additional things they notice on the car from the pics or to look out for when I check it out tomorrow I'd much appreciate it!

 

As a four door it is less desirable, but if little rust ( check the door and panels below), it looks like a
$5-6 range, not really worth restoring as restoration costs the same regardless as to the desirabily, so if you can use most of it like it is with a little clean up, you would be in good shape. I sure would want to make sure it runs. Maybe make a deal and if they will allow you to come over and get it running prior to payment and pickup.

 

That thing should cleanup pretty nice! Sorry, but I don't have a clue as to the value.

 

Thanks for the input. He was at $3k but had a couple other local buyers/family friends come forward and the price went up to $4k. I know he began working on getting it to fire up today, but said it may need a new condensor. I'd ideally like to work into the deal that it runs/moves under its own power before paying in full. If it was at sub 3k I wasn't too bothered as he is very sure it will run with minor work..

Just hard to find many of these in this sorta shape to get an idea on value.. seems most I find are trashed parts cars or super minty and like 20-40K..

 

Make damn sure the tranny works ok if he gets it running. They're a weak design and cost a lot to repair/rebuild if you can find someone who still works on them. I broke the trans in my 56, 98 ragtop and never found somebody to fix the damn thing...used the engine in a 50 ford with a tranny adapter.

 

Yep. Exactly what Rocky just said. The Jetaway is pretty mysterious to most tranny guys.

 

all that chrome is a money pit and the rust on it really hurts the value---value only as a parts car or sentimental build...

 

Thanks for that input, I will definitely require to hear it run/move under it's own power before dropping cash..

I don't mind some weathered paint, imperfect chrome or general patina, I'd like something that I can drive and have fun in, not something so perfect I'm afraid to drive it! I'd hardly call something like this a parts car... shoulda seen the others I looked at!

Thanks for the input all, keep it coming!

 

I'd stay at the 3 he started with. If someone else wants to pop up to the 4 let them. I find it kinda crappy that he told you one price then changed it

 

You should consider your mechanical repair abilities to repair and replace parts on a car that has been sitting for 10+ years. There are sure to be many things that will need to be serviced before you hit the road. Old cars are never quite as good as the owner/seller thinks. Good luck.

 

And what are those OT rims in back on the shelf,lambo? Who needs more $$?

 

I agree with this and many of the other statements made.

While reading your initial post, $3-4000 came to mind. It will all depend on the mechanicals, the interior and the condition of the chrome/stainless.

I hope it works out for you.

 

My sister had a 58 with factory air ride, spendy to fix, I would hold 3K at him (once it's running) if doesn't take it-walk away with no regrets.

 

The other people were most likely talking out their ass and if he does not stay at 3 then let him sit on it and see if the others will shell out what they were offering,that car is very nice but if you did some looking could probably find one to get in and go that has better chrome for a slightly more money.

 

Does it have the removable radio?

 

It's shitty that he bumped you from 3k to 4 k while you were looking at it. I'd have brought 3k in cash and would have had a real problem if he didn't take it. Always pull the trigger early on deals on your first viewing.
Now that we know how he works, I'd bet dollars to donuts that once he gets it running (and drives it around the block if the brakes are not frozen) the price will go even higher. You'll see it on craigslist for 6k obo. At his speed, I don't foresee him doing all this work to get it running just to give you a bonus deal.

I recently started shopping for a late 50's-early 60's GM to tinker with and make do some mild custom mods to.

A 4dr. 58 (any 58) isn't really ideal mild custom material.
If you LOVE the car, and want a 50's driver, buy it to keep and enjoy it. It won't be an easy flip.
It's a neat car and looks real solid, but also consider how much in additional parts and labor will be involved to make it road worthy; set of tires, brake overhaul, hoses and belts, battery, etc. all add up. As mentioned, the chrome is a money pit. Can you live with that paint?

 

i would say around 3 to 5 thousand ...

i would say bring cash in hand and say this is what i have to offer. also make him aware of what items need attention ( like rust on the chrome, engine or tranny rebuild, etc ..)

 

There's another one out there somewhere... one where uncle moneybags won't jerk you around on the price.

 

Area has a lot to do with valuing a car. Up North, out West, the prices always seem to be higher than the prices in the Midwest and the South. I don't know why, but I have always noticed that. That being said, I would rate that car at a $2000 to $3000 car tops. The reason for my figure is 4 doors, condition of chrome, running or not. If I couldn't drive it around the block, I certainly wouldn't drop any more than that on the car, unless I knew for certain I could get it running, and how much it would cost me ballpark to do that. just one man's opinion. I also would make the guy stick to his $300 initial offer, or even offer him less, and tell him, if family members think it is worth more, let them buy it then.

 

I like the 4 doors I spent $3,400 for my 56 buick special station wagon. I had to replace the motor and transmission after the guy said it ran and drove, still have to get the radiator boiled out and rebuild the front end and need seats and carpet I am doing the body work now so I would make sure it runs and the trans shifts, and don't make the mistake I did. There are a lot of honest car people out there and as we say here in east T.N. some people are proud of their shit{meaning they want a lot of money for crap}.Good luck and keep us posted. P.S. I have the pull out radio for if you or anyone is interested in it. Thanks Bruce.

 

Just saw the 2 door version for less than that here in Tx, and it did run. Too bad I wasn't the first to find it... already sold. I think it's a decent looking car, however cheap 4 doors In decent shape aren't all that hard to come by. I'd save the 3 grand and keep looking. I'd bet the trans is out, that's big headache on that car.
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I know the trans in my 53 leaks but still works and its for the same price he's now asking. Plus my car runs and drives. I got mine for 2k without running but having the engine build paperwork from 4 years before it went into storage.

 

I agree with this, but think that 3k is on the top end of what I would pay for a non-running 4 door that I wouldn't be able to diagnose issues because of it not running. If he wants more let him keep it. I would consider both the engine and tranny a core until I could test both to make sure that they are good, therefore you might as well think of it as a rolling chassis.

^This guy hit the nail on pretty much everything he said. I would pass on this car if I were you, I wouldn't give it a second thought...

As an acquaintance of yours he maybe just trying to say that someone offered him more to jack the price you would be willing it pay... if someone offered him more then why didn't he take it?

Really I don't think this is going to be worth your time, there isn't a guarantee in this business that everything is going to work on a car that has sat in storage for so long, let alone why it was parked there in the first place

walk on

 

Looks like that would make a really nice driver as is, if it runs/drives OK.
I am no price guru, but personally would back off for a few days...
Just tell him you were interested at ~$3K if running, but can 't go any more..
Then see what the "Relatives" come up with..
I doubt they will trump your offer.
Good luck, and let us know what you do !

 

Also 2 or 4 door it doesn't matter, it'll turn into a 6k $ project in no time that's just the way it works, Nickel and dime at a time. Let him sit on it awhile, he might end up calling you back.

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I find it hard to believe someone would look at that car and say it was only good for parts.

 

You didnt show under the hood......Ive seen 4 doors with the factory j-2 or tripower setup........if by slim chance it had this and still had the air cleaner.......the air cleaner alone is worth 800-1200 depending on condition.

that alone would put a different spin on it....

 

Sounds like you need to pass. I met a guy not long ago that got one of those for less and in great condition.

Personally I would walk away out of principle. You don't up your price during negotiation. This is a very superficial person you are dealing with.

Patience is your friend, not this guy.

 

Sentimental build as in grannie had a pink one---parts otherwise , honest answer ...