Not sounding good. I'll post pix of a couple of other things tomorrow that cause it to stick besides the linkage. At any rate, you are going to have to take pan off to see and get to them. Hopefully, it is one of them, otherwise its starting to sound like $$. Do you have service manual? If not, strongy suggest you download the Ultramatic section (sect VII) and review.https://packardinfo.com/xoops/html/modules/article/view.article.php?119

Big Kev is right about replacing assy. Latch is either riveted or pressed on in mfg and don't think you'll find separately. One slim possibility is taking assy and see if a welder can fill it in and grind to original without destroying it..Again though, thats only a guess as to possibility since I don't know if it's just ordinary steel or something special-- and the cost for that may be more than another one would be.

It looks intact, but until you get your gearshift in P or N, no way to tell if sw is OK or adjusted properly without removing and actuating manually. If your driveshaft is disconnected where nothing can happen you can jumper or connect the 2 brown wires together just to see if eng will turn over but wouldn't try to do a lot until your shift is squared away.

You can also use a meter or test light at that switch and see where you lose voltage. For example if it is on one brown wire but not the other, the Prk sw is problem but if on both, then solenoid or associated and if on neither then ign sw (also known fail area).

The fact trans is locked now and shaft had to be removed, means it should already be in Park so more needs to be investigated.

Agree with BH about the wiring. If automatic, the original trans setup had a round mechanical sw on the steering column a few inches from firewall on engine side to prevent starting unless in P or N. Other set of contacts is for reverse light. If you have it, would check there and make sure everything OK and also make sure switch has both brown wires connected. Should be on term 3&4 but don't remember orientation. There is a small wire link connecting sw to the lever that goes to trans. Make sure it is there to work switch. If the brown wire is continuous and undamaged from the start terminal (one in center) on ign sw to solenoid, then there is a possibility either switch itself is bad. If a stick, then I believe straight from ign sw to solenoid.

Be VERY careful when working or pulling anything around the ign switch. It is held in by 2 prongs that twist into slots in the bezel. The bezel and slots is pot metal, very delicate, breaks easily, is getting hard to come by, and expensive.

A few possibilities. In the engine compartment where the mechanism is, there is a small coil spring that pulls the latch against the ratchet which may be missing or damaged, there may be a wire from the rats nest bunch in that area out of place pushing against and preventing the latch from engaging fully, or the latch may be damaged or sticking.

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I would think quite a bit less. The fact these went for such a sum makes me wonder why--and who were they bought by. I didn't watch any of auction but were the usual high dollar cars going for such large amounts. To me, it's been amazing the number of people at car shows (even Packard folks) that think anything postwar is second class and barely worthy of the Packard name. Anything not built on Grand ave, rates lower than that. Even in the crazy market of a few years ago with Cads and Chevys going for huge amounts, the highest I ever saw for a V8 Caribbean convertible was in the 60-70k range.

Here's instructions for disassembly for older version. Yours very similar except for way coiled tube looks and attaches. I don't remember exactly how so you'll have to figure out. Once you get that off you can pull strip out and examine without taking ant section off motor. It should almost fill tubing--if markedly shorter, then broken. Look carefully for any worn spots that are thinner or chipped as compared to rest of strip--frequently there is kinda a half moon spot missing where the pinch rollers wore it away. If it appears Ok, then we'll move to next step.

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Does motor keep running when it stops? If not, could be damaged or straining. If it keeps going, is there any damage evident to sections that could be causing a bind. If they are OK then there is the slim possibility of corrosion or a rough spot inside the tubes. Each section has a small brass finger arrangement at the bottom that keeps tight contact with the one it slides in. You might try a dab of lubricant and let it run down inside but I doubt it will help. I suspect that since it won't go up all the way or go down without help the nylon strip is damaged or broken at the point it stops--a common happening. Take it apart and check strip carefully for worn spots. If memory serves, it is an odd shape and I don't think there is an exact replacement. It is also crimped to top section. Let us know what you find and maybe we can come up with something.

I'm impressed! Was something on it made of solid gold?

We'll keep our fingers crossed. You'll find that almost all Packard reversible motors of that era are of the type that consists of 2 separate field windings equal, but wound in opposite directions. The wires from cable feed each winding independently, the other end of windings connect to one of brushes and other brush connects either to the frame of motor and to ground via the mounting screws or is brought out as a short separate wire to go on a mounting screw. Either way it connects to the car frame which is connected to battery. Window & seat, convertible pump (which is photo attached), antenna, Torsion level, etc. The only one offhand I can think of that is different is the electric shift.

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