1971 GMC Super Custom 1500 - What's it Worth

[mpauly]

I went to look at a 1971 GMC Super Custom 1500 today that I'm thinking of making an offer on, but wanted to get your input.

Equipped with and 'the good':
- 305 V8 - 147K, ran smoothly and started fine, good oil pressure and didn't overheat after 20-30 minutes of running, no major leaks. Edelbrock 4 barrel carb and HEI ignition.
- Ram horn manifolds and dual exhaust with what looked like glass packs.
- 350 Auto - shifted smoothly in all gears including reverse
- Power steering - tight and smooth, nothing looked worn or was loose
- Suspension was decent
- Disk front brakes and rear drums - probably needs to be bled and new pads/shoes, but the disks had meat on them
- Rally wheels with decent tires
- Paint in average shape, had been 'restored' about 10 years ago (more on that in 'the bad') and had decent chrome and all the trim was there and straight (though slightly pitted)
- Gas tank in good shape
- With the exception of the seat cover, interior in good shape with newer carpet

The body and 'The bad':
- The 'restoration' was pretty half a$$ed (see rust issues)
- Rockers - replaced decently with good door gaps
- Fenders and bedsides - looked to be original and in decent shape with little fille
- Hood - in good shape with 1-2 small dings
- Roof and drip rail - seem rust and bondo free
- Doors - lower outer skins have rust and the inner corners loaded with bondo, so assume their rusted through. Latches and locks were messed up and didn't actually stay shut (drivers door opened up during the test drive which was interesting to deal with)
- Cab corners lots of bondo.
- Floors - fronts seem solid, but back corners are gone. The 'restoration' was to screw in zinc coated sheet metal over the top
- Cab mounts - all 4 nearly gone
- Glass - it's all there and functional and seals seem OK, but the windshield had some hazing on the bottom 3" so I suspect it needs to be replaced
- Bed - tailgate a little beat up with minor rust pinholes, top rail of the bed front had decent sized rust holes. bed floor had 4 rust holes near the tailgate corners and next to the fender wells.
- Ventilation - blower and heater worked out the floor, but not the center vent or the defroster, no A/C. Surprisingly, there were no side dash vents.
- Electrics seemed to function, but all the interior knobs for controls and doors/windows were falling off
- Seat cover is all ripped up on the driver's side.

The guy seemed sort of attached to the truck, but he honestly didn't know what he had. He's owned the truck for 6 years after having it shipped to NJ from an Indiana dealer, but as I was pointing out all the features of the truck and all of the issues and he seemed a little clueless. Though he was was actually concerned (or at least pretended to be) about not mentioning the issues in his ad and giving the impression that he was trying to dupe someone. He claimed he had an offer for $3400 from a local guy but didn't really trust him or his intentions. He seemed really appreciative of the information I provided him and "wanted to see the truck go to someone who's going to restore it", but wanted to start at the $3400 figure.

I know what the issues are with the truck and have a decent idea of what's involved to fix. My intentions are to find an occasional driver to be used as a truck to haul stuff for the house that I can also work on and restore as I go. With the exception the extent of the cab rust, this seems to fit the bill. If I decide to take this on, I'm thinking under $3000, maybe $2500-2800. Not too optimistic he'll be interested in taking that offer though.

Based on what I've seen in the North East, this is far from the worst I've seen (actually better than average) and probably the most realistically priced. Opinions?

Michael