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Looks like a project!!! Chris.
bringatrailer.com/listing/1937-packard-fifteen-series-twelve/

I believe it was BDC who posted about this car a few days ago. Unfortunately for these once magnificent sedans, the cost of a decent restoration would probably exceed the value of the finished car by a very large multiple. The car looks quite complete, but unfortunately it needs just about everything, just a professional engine rebuild could be in the range of $50,000. It's value may (unhappily) lie in a chassis for a body swap to an open car and become another car with a replica patent plate, phony VN, and a lost link to its past. How sad it was allowed to deteriorate to this condition.

What makes the V-12 engines so expensive for rebuild? Parts that expensive or non existent? John

Several reasons. Cylinder bores are not perpendicular with the deck making a modest complication for boring, and the hydraulic valve take-up mechanisms are quite complex requiring some real precision work, they run on about 1500 needle bearings. A valve job alone can run to $20,000 or more. OEM type rod bearings have been unavailable for a long time requiring a workaround. Original cast iron cylinder heads are difficult to source and original aluminum heads are generally scrap. Timing chain castings have intergral pass-thru water passages and often require extensive repair, though I understand a repro is now available. Items like distributor caps can be expensive, $500 or more. And there aren't many qualified shops that have proven track records of dealing with this engine and those that do generally have pretty full workloads.

And a very limited number ever built, only 5744 cars + whatever small number for parts inventory.

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What a neat old car! I think I would be satisfied driving it as a survivor (if only it ran ).

Owen's comments don't bode well for this car, but I understand the reasoning. But what would be worse - to use this chassis to recreate an open Packard, or end up with a GM LS V8 and automatic transmission?

Will this be another non restored 12?

On PAC Facebook page.

Here is a nice winter project. $17,500.00. Have all engine parts. Clear title. Has it's CCCA senior badge. In storage 20 years. Can not tell you why the top end was disassembled. At my shop in suburban Chicago. Enclosed transport available. Keep the faith. John
facebook.com/markmotorcarsinc

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I notice that the V-12 has a unique setup with the canted valves. Thanks for the info Owen.

Those are sobering numbers on rebuild costs, Dave. Such a grand old car, though... BTW - sorry guys, I have no idea how I ended up posting this in the PARTS department!! Too late to move it now; sometimes I think I need a 'check-up from the neck-up'!!! (been in isolation too long!! LOL) Chris.

Info on rebuild. Worth a watch if interested.
youtu.be/9BXYUjLJPdc

1 unique feature on this Twelve is the fact that it hasn't sidemounts and no spare mounted in the rear. I've seen those with 1 sidemount but I think I've never seen a Twelve sedan without sidemounts.