Re: Meticulous 55 Convertible Resto

Posted by packardsix1939 On 2023/6/7 8:53:43

Seller might still have to come down quite a bit further. A partially completed project is a difficult sell in today's market.

Not sure how much you would have to spend to complete, but this fully restored AACA National Award winning 1956 Caribbean convertible did just sell at Mecum Indy for $154K. So maybe you could buy the '55, finish it and still come out ahead.mecum.com/lots/553734/1956-packard-caribbean-convertible/

But the $154K does look like it might be an anomaly in light of other recent '55-'56 Carribean auction sales.

This fully restored 1955 brought only $78,100 at RM Sothebys Palm Beach in 2020:rmsothebys.com/en/auctions/fl20/palm-bea ... r0029-1955-packard-caribbean/841109

This solid black '55, advertised as having only 19K original miles, brought just $56K at RM Sothebys Amelia Island in 2020:rmsothebys.com/en/auctions/am20/amelia-i ... ackard-caribbean-convertible/851658

And this '56 brought $82K at 2021 Mecum Indy auction:mecum.com/lots/475689/1956-packard-caribbean-convertible/

Have examples of other recent auction sales, but none close to the $154K for the '56 at Mecum Indy 2023. All were well under $100K. Any thoughts?