Need help

[rubigade]

Ok guys and gals,
Here's the deal. I'm definitely a GM truck guy. I've owned several (9) including the 07 Z714x4 Sub I have now. Project-wise, I'm into Jeeps right now but this is definitely a cool place to hang.
The reason I'm here today is because I am an Insurance Agent and a client of mine needs your help. I can't give alot of details because of privacy issues but I can say that I recently had a client pass away that was into these trucks. I've considered he may have been a member on this or other similar forums so if you know him or know of him, please PM me and do NOT put any info about him on here publicly.
He had a 57 GMC longbed (small window) he was in the process of restoring. The widow took me into the garage and showed me pretty much everything we could get to about his truck. He was very organized having everything bagged and labeled and from the looks of it, he was going back to original with the truck. I'm working to help her ID a price for the project as neither her or her kids plan to pursue the project to completion.
Having said all that, I should give some details on the status. I know that the project would be worth 20 to 30K if it was done and done right. The problem is, it's NOT CLOSE; maybe 5 to 10% overall. The frame has been blasted and painted black and looks really great- very detail oriented guy. He also installed new brakelines thus far. The body is sitting on the frame and is clean but there are a few dents, NO RUST... overall very clean from a body work perspective. He just recently had the original motor (V8)and 3 speed (on the column) tranny completely redone to the tune of 3K (she said based on what he told her). I can't imagine spending that kind of money simply to rebuild the original (was it a 283 or 262?) motor and tranny but who knows. I couldn't see the guts of it. It is mounted to an engine stand, has been painted and wrapped tightly. It looks like he has pretty much everything needed to put the truck back together, assuming you understand that this is a one family/two owner truck (uncle to nephew sale). What I mean is, he has all the original fasteners, fixtures, bezzles and so forth, all of which I personally (if I was the builder) would replace with stainless or new ones painted to match. He has the original seat with original seat upholstery, bracketery, and so forth as well as all new window and door seals and brand new Oak bed floor stained ready to install (long way from actually installing that). Glass is in good shape and, aside from a few dents, the truck has likely NEVER been wrecked.
My questions are:
1. What is a project to this extent worth, just like it is? I'm not looking to give her any personal perspectives because I don't want her to think I'm trying to take advantage. As fun as it would be to build, I'm not in the market for such a project and most likely wouldn't buy it regardless of the price because I don't really have the money. I just want the numbers and info to come from an unbiased source with alot of input. (I'll probably print out all this and your responses to show her that)
2. What is the best way to market it and get top dollar?
3. What are your recommendations for her assuming your wife was in the same position and considering how much you can have into a project even though it looks like nothings been done? Unfortunately, the sum of the parts don't really add up to much value until its completed. I just don't know if she understands that fully
Thanks for any and all your help.
Matt

[dumbfarmboy]

Freebay is probably the best market test. I would be interested in bidding but its a long ways away. Unfortunately these things never bring what you put into them...I guess it's the basket case discount

[blackdiesel]

If she plans on paying a shop to finsh it so she could sell it. She would be better off giving it away now. I know you don't beleave me, but trust me, to have a 30k truck built by a pro will cost you 50k or better. So if she don't want to build it and keep it, get some offers on what you have now and take the best one. Better off loosing alittle now than ALOT later. JMO

[OrrieG]

Right now unfinished projects are going cheap because of the economy. It sounds like a nice truck, but is a long bed (not as desirable as a short bed to most folks). Also it seems like you can put the same effort and quality into a restoration or rod build and the rod will always bring more money. Restorations of these are done for personal reasons, not to make money. You might go over to the stovebolt and inliners sites and ask the same questions, they are more stock orientated.

Rust free body and frame has value to someone starting a rod project. I've been trying to almost give away my stock 59 parts like gas tank, seat frame, generator, etc. left over from my project for a year and no one wants them. Rebuilt stock 283 only has value to some one that needs that date coded block unless its numbers matching to the truck then they might take it with the frame and cab. You can get good 350 crate motors for under 2K and low mileage used for even less.

I would first try and sell it as is, all parts included with a pretty good reserve to see where it goes. If its obvious that there is little interest than take the new parts and sell them piece meal for say 70% of current repro company prices. Some one will pick them up for that.

Also consider that you are competing against already completed trucks that are selling for much less than even the cost of the parts used to build them.

[blackdiesel]

I just seen that it's a gmc. If so it will be a pontiac motor, not a chevy. That could explain the high price of the rebiuld.

[N2TRUX]

rubigade- Welcome to the forum. Have you considered checking with your clients buddies? My guess is he networked with some of his friends and they might be a good source for the value of the truck.

I think a local deal would be your best choice rather than have the widow trying to put it on the open market.