Value Question
 

Hey, I'd like to get some opinions regarding the value of a 1960 GMC Panel truck.

IMO the seller is asking too much. Is there something special about Panel trucks?

Condition is original with significant surface rust but apparently that's the extent of the exterior rust. The driver's side floor is shot. Minor dents etc. Engine runs and is drivable - but I would consider it yard drivable. The 55k could very well be original. Bill of Sale only (Alabama).

I've attached a couple of pics to get a flavor of the condition.

My thoughts were $2000-$2500.


Opinions?

Re: Value Question
 

Value is a really hard thing to pin down because there are so many variables. It depends on things like:

* What is the market area it's in? In the Los Angeles area, it might be a $5000 truck. In northern Maine maybe a $1000 truck.
* How bad does the next owner want it?
* How many miles does it have to be shipped to the next owner?
* How much money is the next owner ready and able to spend on it after he takes delivery?
* How anxious is the seller, and how long has it been for sale?

All that being said, I think you're in the ballpark at $2000 to $2500. I wouldn't pay more than that myself.

Re: Value Question
 

Why didn't you say how much he is asking?
As a person who has specialized on 55-59 Panels and Suburbans for 15 years, yes they are special. To find one with genuine panel seats is real special. This has them, at least the driver's seat, can't see the other well. I agree with Ed's list and price. $1500 is better. :thumbsup:

Keep in mind that value starts with how much rust, period! But in this case, the rare factor is a close second. (rare does not always = valuable) The pricing is for a 1/2 T, short wheel base. Any other changes the value.

Rare items:
1. 1960 (first year for new body)
2. GMC
3. Panel
4. Original bomber bucket panel seats
5. Looks very COMPLETE and ORIGINAL! indeed.
6. Nice uncut dash
7. Rear wood in good condition(?)
8. No rust (?) Floor is easily repairable. Surface rust is just the surface(?)
9. A running BBV6!!!!!!
10. Original interior colors(?)
11. Drivable, shiftable, stoppable (?)
12. There can not possibly be that many Panels made in the first year. Only purchased by delivery people and some trade persons.
13 Unbroken windshield. VERY expensive to replace.
14. Possible very rare emergency or civil defense history due to top lights and vintage two way radio. (which should be left as is/restored) (pictures should be taken of any "shadow lettering", logos or original symbols on the sides or doors before sanding).
(?)= can't see/can't tell for sure. Buyer to observe.

It could have other rare features I don't see. I love panels if they are non rusted. Be advised, there are NO repair panels available rearward of front doors.

I would buy it at $2500 if it is non rusted. (maybe even $3000 if it's non rusted). It is possible it's worth more than that if title is doable and VIN is legit and it's not stolen or plate switched.

Except I don't buy anything without a title. So to me it's negatory territory. It's a NO buy for me in my home state. If you are 100% sure about getting an AL title, then I guess that's up to you. At least be sure it has a genuine, legit, original, riveted VIN plate with proper VIN, matching the year and etc. See our Vin page for description, location, pix and decoder.

I don't listen to "all you gotta do is this or that". Salvage title, bonded title, rebuilt title, lost title......NO THANKS. In your case, in your state, you can use the fact that you have to do all the work, take all the risk, as leverage for lower price

Re: Value Question
 

I agree with both of you regarding the factors. In my case I need another project like I need...

Alabama does not issue titles for vehicles over 35 years old. It's a pain but it is what it is. Since I live in Alabama it's not an issue. Likewise, transportation is not an issue.

Yes the BBV6 305 is the engine. At this point I'm guessing it is a 3 speed - given the tree shifter.

From the pics, one of the front seats has been reupholstered.

I think this was used as an ambulance or some other kind of support vehicle - given the radio and the roof mounted lights.

The guy is asking $5500. He's about an hour from me, so I offered him the $2000 assuming it matches what he described. I wasn't going to spend my time looking at something if the seller is on the high side and not willing to get the price into the value range. He said no way on coming down, so that's where this sits. From what I know, he purchased a scrap yard or a yard of scrap cars and this is one of them.

My thinking was if I could buy it for $2000 then I would. $2500 would be my absolute tops. I would make sure it ran properly and then I would probably want to turn around and sell it. Back to my point about having too many project vehicles. Although it would look nice parked next to my 65 4x4 fleet side.

Rich

Re: Value Question
 

Agree with most of what you said. I added some more B.S. while you were responding. $5500 too much, give him time. It's not going to sell at that price. In a big populated area like where I live, it would be a great flip item. Agreed. That's what I would do with it after enjoying cleaning it and getting it running good.
I realize now you have not seen it, so all bets are off. One thing I do know for sure, pictures are ALWAYS better than the truck really is.

BTW, you do need this. So stay on it, if he comes down any, you have to go there and meet and greet. I myself would have told you I don't negotiate over the internet or phone. Like ED said, how long it is for sale is now a big factor. Starting at 5.5K, he needs educated. By whom? I don't know. Probably by father time.

5.5 could be retail in same areas. I say "could be".

Re: Value Question
 

I agree.

only added point - the windshield has a major crack.

Re: Value Question
 

oops!

Re: Value Question
 

Nice steering wheel with little paint loss indicates it could very well be low mileage. Being a commercial vehicle could mean it idled a lot and has a lot of hours on the engine. Pretty rare and desirable but still overpriced.

Re: Value Question
 

Having been born and lived in Ala. until 1992, I can tell you that you won't get a title in Ala. on that year vehicle. Ala. didn't start issuing titles on vehicles until 1975, under the threat of loosing their federal highway monies. I think that the price of that suburban should be no higher than 2500.00.

cordially,
Lewis Ellis Matkin, Jr
Ridge Manor, Fla.
1965 1002 305E-V6

Re: Value Question
 

I just sold a 64 chevy panel with stuck motor and lots of rust and dents for $1800.