How to value an 84 H/O
August 9th, 2014, 09:58 AM
#1
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Join Date: Jul 2014
Posts: 17
How to value an 84 H/O
Hello all. I've been in the market for an 84 H/O for two years now but can't seem to find one in the condition i'd like, and get the seller to drop to what I would believe is a reasonable price. By reasonable I mean $2-3k for high mileage (150-200k), requiring cosmetic, interior and light mechanical work.
For the two years, i've been watching them on Carsforsale.com, ebay, Craigslist, etc., and I'm not seeing them hit the seller's reserve (ebay) or sell period for that matter, on any other site. Makes it hard to judge value. 50-80k miles and they're asking what I would think is reasonable for their condition ($12-14k)
I had my sights on one with 177k miles that had a decent older re-paint, light rust only on the door seams, ran but would not pass SMOG, and needed a LOT of nickel/dime work such as headliner, A/C, Heat repair. As well as suspension, brake and steering updates (those parts were all orig. and loose) The owner insisted that the car is very rare and stated "I won't take less than $10-12k."
I've been following (dreaming) about the 83/84 H/O's since I was a kid and am now in a position where I can hopefully buy and restore one. My goal is not to make one concourse but to be able to drive and enjoy rather than trailer. Factoring-in the cost of repairs, is my thought on pricing that far off for a 30 y/o G-body with 177k miles? Please feel free to knock some sense into me
For the two years, i've been watching them on Carsforsale.com, ebay, Craigslist, etc., and I'm not seeing them hit the seller's reserve (ebay) or sell period for that matter, on any other site. Makes it hard to judge value. 50-80k miles and they're asking what I would think is reasonable for their condition ($12-14k)
I had my sights on one with 177k miles that had a decent older re-paint, light rust only on the door seams, ran but would not pass SMOG, and needed a LOT of nickel/dime work such as headliner, A/C, Heat repair. As well as suspension, brake and steering updates (those parts were all orig. and loose) The owner insisted that the car is very rare and stated "I won't take less than $10-12k."
I've been following (dreaming) about the 83/84 H/O's since I was a kid and am now in a position where I can hopefully buy and restore one. My goal is not to make one concourse but to be able to drive and enjoy rather than trailer. Factoring-in the cost of repairs, is my thought on pricing that far off for a 30 y/o G-body with 177k miles? Please feel free to knock some sense into me
August 9th, 2014, 10:08 AM
#2
Registered User
Join Date: Jun 2009
Location: southeastern Michigan
Posts: 14,445
Have you actually MADE an offer to anyone? Until you do that, you really don't know what people really think of the value of their cars.
What people ask for a car and what a car ultimately sells for are two different things. Cars not hitting the reserve on ebay is indicative of cars priced above what the market thinks they're worth. Offer $8,000 or $9,000 to that guy who said he "won't take less than $10-12K" and see what happens. He might just take it or be willing to negotiate some.
Cash talks. Until then, sellers have no incentive to show their hand, and all you're doing is speculating.
For what it's worth, the Old Cars Price Guide puts the value of a 1984 Cutlass Calais with the H/O option in #4 condition (runs and drives but needs complete restoration) at just under $5,000. In #3 condition ("car show" but not showroom), the value given is just over $11,000. These values are about double those of an '84 Calais 2-door without the H/O option.
What people ask for a car and what a car ultimately sells for are two different things. Cars not hitting the reserve on ebay is indicative of cars priced above what the market thinks they're worth. Offer $8,000 or $9,000 to that guy who said he "won't take less than $10-12K" and see what happens. He might just take it or be willing to negotiate some.
Cash talks. Until then, sellers have no incentive to show their hand, and all you're doing is speculating.
For what it's worth, the Old Cars Price Guide puts the value of a 1984 Cutlass Calais with the H/O option in #4 condition (runs and drives but needs complete restoration) at just under $5,000. In #3 condition ("car show" but not showroom), the value given is just over $11,000. These values are about double those of an '84 Calais 2-door without the H/O option.
August 9th, 2014, 11:01 AM
#3
Administrator
Join Date: Oct 2009
Location: Poteau, Ok
Posts: 41,072
Welcome to the site, apparently your expectations are not aligned with market values. If you've spent 2 years looking and you have not found a car, then either they are rarer than you think, or your purchase price expectations need realignment.
August 9th, 2014, 12:23 PM
#4
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Thread Starter
Join Date: Jul 2014
Posts: 17
Hah, I have made offers with cash...but I get laughed at. But I've only made offers on cars that need work. Part of the enjoyment for me will be rebuilding the vehicle. But I don't want to start with a hack job, rusty bucket of bolts. What I've been doing is factoring the cost of repairs to bring the vehicle to reliable driver condition, and comparing that expense to what people are asking for cars with 1/4 the miles and in almost pristine condition. If I can buy a low mile car in pristine condition for $12-14, why would I drop $8-10k on a high mileage vehicle that needs 5-7k worth of work? The thing is, I plan to keep whatever I buy until I'm no longer able to drive. I'm not looking at this as a quick flip, or investment.
August 9th, 2014, 06:27 PM
#5
Old School Olds
Join Date: Nov 2008
Location: Marble Falls TX
Posts: 9,029
Welcome to CO.
Seems there has been one on Craig's, San Antonio
with left front left fender damage for a few
years now. I'll go and check to see if it's still there.
Good luck with the quest.
Seems there has been one on Craig's, San Antonio
with left front left fender damage for a few
years now. I'll go and check to see if it's still there.
Good luck with the quest.
Last edited by tru-blue 442; August 10th, 2014 at 12:20 PM.
August 10th, 2014, 09:25 PM
#7
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Join Date: Jul 2014
Posts: 17
Sorry Tru Blue, I had relied last night through my phone, but I see that it didn't post.
Thank you for checking on that 83. I searched it as well. That's exactly what condition i'm looking for. Something that's together, but needs work. To me, putting a car like this back together is what owning an older car is all about. When you buy them complete, in my opinion...it's just another car. But when you've got blood, sweat, and tears into it. It's such a different experience.
Thank you for checking on that 83. I searched it as well. That's exactly what condition i'm looking for. Something that's together, but needs work. To me, putting a car like this back together is what owning an older car is all about. When you buy them complete, in my opinion...it's just another car. But when you've got blood, sweat, and tears into it. It's such a different experience.
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