Re: When deciding what to buy....

Posted by Mark Buckley On 2011/5/22 12:11:39

If I may offer my two cents.... In 2004 I paid $4,500 for my Standard Eight, which I bought sight unseen on eBay. At the time I was in Alaska and the car was in rural California, so rather than fly there to check the car out (a $1,500, 3-day proposition, at minimum) I decided to take the seller at his word that it was in "excellent condition." The purchase price was well within my means and I figured that if the car was not as advertised I'd just sell it.

I'm a lousy mechanic and had neither the time nor the patience to fix up the car. I flew to California, collected the car and drove it to Seattle, where I'd located a mechanic who was familiar with Packards. My idea was that he would do the few minor repairs expected the car would need. But the trip north was harrowing for many reasons, not the least of which was that only one brake actually worked. There were so many minor emergencies and unexpected complications en route that by the time I reached Seattle I was a jumpy wreck. "Excellent condition," indeed! If I had not already arranged for the mechanic to take in the car, I probably would have sold it on the spot.

It is now seven years later and I have spent more than $40,000 to restore the Packard to a reasonably good, daily driver condition. If I were to try to sell it now, I figure the best I could expect would be about $15,000.

When I bought the Packard I'd never owned an antique car before, so I assumed I'd experience a steep--and expensive--learning curve. The curve was steeper and longer than I expected, but I like to think I've learned a thing or two along the way.

If I had it to do again, I would wait for a car like the one I now own to come on the market. I've seen several cars like it on eBay with asking prices in the $15-20,000 range. If the seller is able to document the restoration work, and if I could personally inspect the car and verify its condition, then I know from personal experience that a $15-20,000 price tag would be a bargain.

Bottom line: unless you like fixing up cars (like Big Kev does), buy a car that has recently been given much love and attention by the seller!

All the best,

Mark