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Hot Rods Establishing a value for 56 Monterey Wagon

Discussion in 'The Hokey Ass Message Board' started by knucklenutz, Apr 12, 2021.

  1. knucklenutz
    Joined: Jan 4, 2009
    Posts: 108

    knucklenutz
    Member

    Long story here. My father ordered and took delivery of a 56 Merc Monterey 9 passenger station wagon in Dec of 1955. He drove our family all over the US and Canada pulling various camping trailers. Just before I graduated High School in 1967 he handed me the keys to it. I wrecked the Wagon in Jan '68. I didn't have the funds to repair it. Being that I was due to enter the US Air Force the next month with no place to store the car, it went to the junk yard. I pined for that car over the years. Then in 2008 at Back to the 50's in Minneapolis I spied the apple of my eye. Sitting on the curb watching cars file out of the state fairground a beautiful White 56 Monterey Wagon came rolling down the block. ( The image below was taken at that point in time ). On impulse, I ran out in the street waving my arms at the driver. He stopped. I stuck my head in the driver side window, handed the him my business card and told him that if he ever wished to sell the car , it must be to me. The traffic behind him would not take further conversation , so he drove off. A few months later Don called me from his home near Winnipeg, Manitoba. We had a nice conversation. No the car wasn't for sale. Next year a couple weeks before the annual Back To The 50's car show, Don called to ask if I would be going. We got together and continued doing so. We established a great friendship. Along the way, Don and his brother managed to drop the 312 Y-block from an engine hoist. The fall snapped the vibration damper from the crank. Sadly a 351 replaced the original motor. Then about 5 years ago the car was stolen. Thru a private detective Don was able to find the car. It had been vandalized. 3 thousand dollars later it was like new again. Most recently Don suffered medical problems that left him unable to drive. More than a year later I got the courage up and asked if he would sell me the car. Yes was the answer. He left the business end of the deal to his son. He and I have been going back and forth. No price has been put up. I have scoured all the resources that I know for a value with no luck. At this point , a commercial appraisal agency is the only option that I can think of. Any suggestions ? May 1967025.jpg FILE25679.JPG FILE17129.JPG FILE37821.JPG
     
  2. arkiehotrods
    Joined: Mar 9, 2006
    Posts: 6,710

    arkiehotrods
    Member

    Jan-Feb 2021 Old Cars Report Price Guide values by condition for '56 Monterery Wagon
    1. $60,500
    2. $42,350
    3. $27,230
    4. $12,100
    5. $ 7,260
    6. $ 2,420 (parts car)

    Keep in mind that a #1 condition car is a trailered 95-plus point show car that is never driven, would win most national shows. There are very few #1 vehicles.
     
    dana barlow and knucklenutz like this.
  3. squirrel
    Joined: Sep 23, 2004
    Posts: 51,187

    squirrel
    Member

    A picture like you have, could be a #4 car, or a #3 car, or a #2 car....the detail we need to see to tell for sure, requires a hands on inspection by a good appraiser. You won't get it from that picture.
     
  4. A good appraisal is priceless. It's like getting a physical from a good Dr. Most car guys just look at the visual picture not the actual mechanical condition in total.
     
    Hot Rods Ta Hell and knucklenutz like this.

  5. Squablow
    Joined: Apr 26, 2005
    Posts: 15,963

    Squablow
    Member

    If you just want me to throw out a number, I'd say somewhere between $30K and $40K but so many factors could bring that price up or down.

    The problem I see with an appraiser is that they're generally only called in for insurance purposes, and an insurance appraisal is generally at the very high end of things. You see that a lot in for-sale ads, "professionally appraised at $45K, sacrifice for $29,995" on a car that's been for sale for 2 years with no takers.

    I feel like the Old Cars price guide is pretty accurate for this car, but the inspection/appraisal should be to figure out the condition, not the price. If you get a knowledgeable inspector who can say for sure this car is a 3+ or 2- or something like that, then apply that to the Old Cars scale. Hagerty also has really good valuation tools, but you need to know the condition.

    Woody wagons are hot, and it's probably not going to be cheap. But from your story, it seems like this is destiny. That first black and white pic is pure gold.
     
    williebill, Budget36 and knucklenutz like this.
  6. jaracer
    Joined: Oct 4, 2008
    Posts: 1,541

    jaracer
    Member

    My folks also bought a new Mercury wagon in 56. Great memories of riding in the back of the wagon on trips. I also remember my mother "blowing the cobs out" at around 100 mph. 56merc.jpg
     
  7. knucklenutz
    Joined: Jan 4, 2009
    Posts: 108

    knucklenutz
    Member

    My dad had the 312 Y block rebuilt at 100,000 miles. The Holley "teat pot" carb got changed out for a WCFB Carter. I thought I had a real hot rod when I inherited the car. Walker Continentals and lift blocks in the front coils furthered my self esteem (if not the actual street performance)
     
  8. Shawn Wildman
    Joined: Jul 8, 2018
    Posts: 75

    Shawn Wildman

    What a beautiful car! I've been slowly buying project cars, fixing them up and selling for a profit (hopefully) to eventually get to my dream car - 1955 Ford Country Squire. Which would be your wagon's older cousin. Keep us updated on your progress, and good luck!
     
    knucklenutz likes this.
  9. knucklenutz
    Joined: Jan 4, 2009
    Posts: 108

    knucklenutz
    Member

    Will Do !
     
  10. Budget36
    Joined: Nov 29, 2014
    Posts: 8,728

    Budget36
    ALLIANCE MEMBER

    I’m with @Squablow , insurance appraiser vs car appraiser will yield a wide range of $$.
    If you’re going back and forth on price, etc. just have the son set a price. You can’t price another’s item, especially a family members, to your liking. If you don’t want to pay the sentimental price, move on or dig deeper.
     
    lonejacklarry and Hollywood-East like this.
  11. greybeard360
    Joined: Feb 28, 2008
    Posts: 1,916

    greybeard360
    Member

    I had a 56 Montclair wagon and lived in Montclair, Ca. at the time. I bought it for $50.00, drove it my junior and senior years in HS.

    That was in 1970 when I bought it. Times and prices have sure changed!
     
  12. CDN FORD FAN
    Joined: Sep 24, 2012
    Posts: 22

    CDN FORD FAN
    Member

    The Vehicle is in Canada so the dollar is less so you have that going for you! The engine is not original so that takes away from the value from a restored perspective, how many other items have been changed from original? and is everything operational? Age of tires? Will it pass a mechanical inspection? Any leaking Fluids? Has it been sitting for a long time without being driven?
    Then of coarse there is transportation and the closed Border to deal with.
    Wishing you good luck and hope you can come to an agreement......
     
  13. oldolds
    Joined: Oct 18, 2010
    Posts: 3,304

    oldolds
    Member

    A good appraiser will ask you why you need the appraisal. Most good appraisals will have insurance replacement price, a high and low cash sale price and sometimes a separate auction price. If done correctly it will be a few pages long and not just a paragraph. I have seen them done each way for various prices.
    There should be a paragraph about the appraisers qualification. Some description of the various places he researches his prices from. Then there should a page for the outside appearance. Interior appearance. Underneath. As well as a general mechanical statement. Each listing positive points and negative points. The problem with that appraisal is it will be expensive. You will pay his travel time and usually a percentage of value.
    That is probably not needed here.
    I would suggest that a nearby classic car place is shown the car and let them appraise it for a trade in on a car they have. There seems to be at least a few places like that in most states so it shouldn't be more than a couple hours drive to get it done. I would guess Canada would be about the same.
     
  14. Roothawg
    Joined: Mar 14, 2001
    Posts: 22,697

    Roothawg
    Member

    What would look awesome would be to put 1955 Ford pass car tail lights in it. I have a set I would trade you. I'm always looking to help a brother out.
     
  15. arkiehotrods
    Joined: Mar 9, 2006
    Posts: 6,710

    arkiehotrods
    Member

    I see what you did there!
     
    guthriesmith, B Bay Barn and Roothawg like this.
  16. 0NE BAD 51 MERC
    Joined: Nov 12, 2010
    Posts: 1,484

    0NE BAD 51 MERC
    Member

    A car value no matter what, is between what the seller wants and what you are willing to spend period! Price guide's, online adds and opinions on here mean nothing. They are just speculations and in many cases wish full thinking. If you want the car and he won't price it then make a reasonable offer below what you are willing to pay. From there he will make a counter offer and hopefully you both can meet in the middle. If he won't do that then move on , because at that point he is just blowing sunshine up your ass! Good luck on your deal Larry
     
    guthriesmith likes this.
  17. stanlow69
    Joined: Feb 21, 2010
    Posts: 6,244

    stanlow69
    Member

    Just tell his son, What would your father want done with the car. It will start to get him thinking what to do with it.
     

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