Packard Forum Index » Post-War (1946-54)

Hey guys,

A little while ago I went and looked at a '54 Panama that a guy is interested in selling. I wasn't there for very long, but was able to give the car a quick look, take some pictures, and ask some questions. I'm looking for some guidance as to what you all think it might be worth (given the limited info I can provide), and what type of work I can look forward to if I were to purchase.

I don't have a lot of history on the car. This guy bought it from a farmer years ago and did some work to it. It's been sitting now for years (6+) and not completed. The current owner replaced some of the body panels, did body work anywhere else needed, using "very little Bondo" and then did his own paint. The paint doesn't look bad, though it's not factory correct.
<img src="https://orwqea.bn.files.1drv.com/y4m0I_tjMOYBL6WTdoaZ-4-5DwFTRwHXade2OSnCXI39z1HOQZcJBheJW7M9GbBUSp8gtDH3hmy1uUe597i4tDyCn6QUvsxbv8qfxcs3PGnZy5Auy65Dv5pBKrC4Z5b5tCtrQ6uT_jmJs4J-ReoH23grmgvC7q5mllM5XeBcWOQ-RVsODgP_xCmtNPLUkrBZrzkJQo6bQq162tzY_pZsuyqhQ?width=1024&height=683&cropmode=none" width="1024" height="683" />

Some chrome trim and the crest not installed on the front
<img src="https://o7wtea.bn.files.1drv.com/y4mptM1nr3J-5v9hSLD8Sfo-VH5Z7Y3AQJbhkdn4gJR4LJ9BJ8j_SX9PZ5iXBdFEcHu5DtWiXiEOQGzffm9JhkB5TO-aSewOFlHXNo7uLv1ROraUbSJWPqt9ks4qUN7h0B8QZw3XRRLFVbf83s36-e6SQsESOUuhIQmmZcFSSMIsbGfbZoD5NVchm4MO-mJBaWqsWDlq0JWhW5bzskZ4cubyw?width=1024&height=683&cropmode=none" width="1024" height="683" />

Chrome is poor on the underside, some dents and dings
<img src="https://o7wnea.bn.files.1drv.com/y4mUg8zohhuu3tCJIKtSTVcuL5zW6wArYB-DpYiVxsNtZZT7--714PbbN5knofAQTawyEiWEMXxhZY_1QFyNM0VJKNRHaBprZ85dQ2wDOUJy4HXhyn9hEvf0JcU1s5Dc5dUUOm1qG6a3YNzdTMfz4Dd5UNdjEkbt8n1irRbZjPWt3JJDQjQL5Vt6ssy3mCZFx-xmVRbc8XS7SPUBspmy_mTNw?width=1024&height=683&cropmode=none" width="1024" height="683" />

Under the front. Standard surface rust that I would expect to see.
<img src="https://o7wsea.bn.files.1drv.com/y4mVkOFy5wzuUeFUUiRFnIb3UtAsWUa4teijQKyE0asPYuo3fslJiOq6GGyBKUV0H1A1EY_HcXzWPtR1RAUCzVqvMcD_XoqHMDaFPWuTlTRocZ8VVzNRUWEmHhFypDz5fZPiCi08Jn_0i1eD7tQij2PqllUL3pCv4aZhCF61YjMPb73F1vgyrbRbvJxexV82LLkVQIoQLihQmQtAhaMIDJctA?width=1024&height=683&cropmode=none" width="1024" height="683" />

Engine bay. Factory color can be seen on firewall. Missing air cleaner. Engine runs, new battery. Very dusty from sitting.
<img src="https://o7wmea.bn.files.1drv.com/y4mlWeeE8HGfggdgxWytJSl_Y5_vUx9RsseGz-OOBa_QfFea-TBiMPpAgO1PbIB6KgFGyHp78smzz62osPWoPtwofwV5Twm93ckpLe3bbnojoI6lyVOI0UOUK6I-lL7X7aJ5Y7gScd9rxV5UL1rYtcBi6RIM3AGexFYLHRqhtxdPX-UVLFThTnZVYomOspZby1DAbzodPITTzoRNfjnxLpgQg?width=1024&height=683&cropmode=none" width="1024" height="683" />

Hood insulation needs to be replaced, under hood painted.
<img src="https://o7wpea.bn.files.1drv.com/y4mKu0gmQY3A49ShLAwEGhTMuRSR_Xi7MCpPYRR0a6NEUIZRmeTmfUJCnBeNs4AYMEIo2xSc--eB9OqAAg66WBAQQpysVhKC44uzsjff9R79GR-3m0U_sUx6bl_-gPR1XmS6xtpZAuCMKzTMmIaW--MdPlbHY_dYJXl6KGfw25pKIE3VyRJRjPb1inShWxJa1niY4MKPGS8bL7tcd-EE3AYUA?width=1024&height=683&cropmode=none" width="1024" height="683" />

Headliner needs to be replaced
<img src="https://o7wjea.bn.files.1drv.com/y4mTtO-0f_zn2Js8INFAVy_XXQJVsXlmj2l_FnM2Hd6QEvQuCtSHuuPM423aNOD6493yOyQupuTu9-WXdSXj6Jr5-DhSR20_XMr8uQtmk3GdOet4i8vZVoEEhSMqwPJFkKGVlRSqEPiwB9stD1QIiJo92t5y7BtvIG2dVl9wd0jRbFL3Lbyzrtjr3P2LOggHSWSHlbArL66PCimvOcDGqPAVw?width=1024&height=683&cropmode=none" width="1024" height="683" />

Interior trim is off from painting. No major rust seen inside the doors.
<img src="https://orwrea.bn.files.1drv.com/y4mkNJ5n4grbAUQF7kwuqLEwvd9fir0TLcHFQrpCklByZART0BNb3vD9ciI6VsvTq2EKCTs7hFWqONm1xRzYGgidrRJGKW95dzZg9GoUGPn09vFUdvgC7sc73FodyuC6rAGYMRNHcJ17uyUYu6PYxysO6WQz6kHX6Wf9F9buq8uoMAqJtJxhswZZHg4zVKHhBMKRfSIxo9cwEz5VcKOkehz9g?width=1024&height=683&cropmode=none" width="1024" height="683" />

Trunk. Missing rear seat backing. Most of the remaining trim is in here, original door panels as well. No rust under the spare.
<img src="https://o7wrea.bn.files.1drv.com/y4mwFBqgWP7CHopx89r8Kr_47X7QCcX2aXHJil3fUI1Wj882ZRuX6uuO-L207xeGG-Qu9Vnhxi9_YN2Thmi1MBOeMhZqUgWtNmETIJd0igMjTaERO5jcrqye4wL1zKr1BpD9rXVAIPSlf4v2VWHmrcOtHuv6HtkJ1cSLtAjhawsJmcC1uIWpcw_wpumSYFNImt7zii-HGgGZ1JM3wbq5laO4w?width=1024&height=683&cropmode=none" width="1024" height="683" />

Original color again
<img src="https://o7wqea.bn.files.1drv.com/y4moj4_SXQZS3alGMMuTlsvuaG3eUvnDTZ0NfrAjZjkuWn_wLG_s82X_ooGBLO8PJ3vdb3xH6jsEbqYiGJqTMSLjG8v99poFU2vqU4XPP9SLDnuuKNBbAiTgcuKYBVsmlKvbBZ9gaks5nM9F9CFrtZ5uWVsUFnw7nuCcTjpd4_d1VRp8p0O-TMU_hqo0ZQY8qfiOXIVePblAjF2eK2j6ZQXzg?width=1024&height=683&cropmode=none" width="1024" height="683" />

Somebody in the past had done some sort of hard undercoating over the frame, panels, fuel tank, etc. Some of it is starting to flake off.
<img src="https://orwsea.bn.files.1drv.com/y4murKdbpgufSOFdiyUkZlO3hUnvKdLcfjIaxL2sHSO8qh63uGIh2y--7oxvOqu_U-RvySiw0Tnaru6lzZKnNB4Xg_hdTHkUPOnrV7U6StfAs8bo-VJ_zai-7XNt0Vvu_E1o-q_WETNU4BDWODcEKKtCIZV06CXAR_OLtmSUB3bd2VpN8HGb6jc5Glmp9qaJX5oWszOuRNORN-HjKb1FKr3lg?width=1024&height=683&cropmode=none" width="1024" height="683" />

<img src="https://orwmea.bn.files.1drv.com/y4marhS-K2-lOmDaLCsxFtWBW4O2jXhUrm0xj77-rAvr14LcXPgQSyseGpWkrhy4_PqtawqjMKUZo-gG_daSwN8tOHjO9dEM4OzzMF-aA3WNGjDX5JFxB5_G_j7h7tifzT-PtZeWK-hUubpMDsHB0mLTyf4ojkXnVZ5fazoxFpFKRMkP1b05bHoE0r2TVko0urb2cn5IgNE8W-HMrzDE-yNYg?width=1024&height=683&cropmode=none" width="1024" height="683" />

Trim still needing to be installed
<img src="https://orwnea.bn.files.1drv.com/y4mO9xk6zBDW_yMSN6Ri9YD4g_uW166datU4-antWZymguvNSoHHemdfQYweDWE16JMp8WRiljjMKIXx2ANsRq_cAcT4sSee05V9IOPXeYNWrJgQAeMfU6YjC9UmoMWwzQvzMRPLCVzvC355soN76SZ-FSbHIYruV7Rzh5CfeWVZ43qJjrvSbFfqaFcLyOjWHNUBUQymx3oxZg2gPDQJ-zA3w?width=1024&height=683&cropmode=none" width="1024" height="683" />

All the trim could use some polishing
<img src="https://orwpea.bn.files.1drv.com/y4mh8Kiw8TP3PGT8UcA5xuWHJ2IY2hj7WZfaV3FnUrMl54UTAbeWbau_ZtTodRmUYGdhnGT_852CFADLCzKiWyFLxFdKuy77txgxd3U2VrmIoLaKNWE_VZbYuHKufJ8DlJEu1Sk2WUZbGVjn9ZD7WS0OdIv0_zZtUamvY-h5aMC_u_QpwxhDCtAVw93zG79BbCnVc7nGYGfE19O-ovvMvDi-Q?width=1024&height=683&cropmode=none" width="1024" height="683" />

<img src="https://orwtea.bn.files.1drv.com/y4mu2sjgtSodWwd-YT1dgOOfXBZbF65fnxUp_LBOQ13Ze6Wdf3SUSK9HNRnlANjoTCR6olCd-hbt9bgnMzf3N_GM5J6DWkANoLUeMFhMvvh20R2xrxd9JDHTXKDOI9k-Z1qFD1LAiUUnQFQx44ELFPeMWoiXVj97Yj9beEImxZX3SAOcGtg6JJF2aJUSSqU52GtEoBki6v3c4anlrht1HX2kA?width=1024&height=683&cropmode=none" width="1024" height="683" />

Rear bumper chrome is very poor. Some dents, some rust, chrome peeling off.
<img src="https://obwqea.bn.files.1drv.com/y4m6sWLSqghcUNVNGVy2U7YXKiAMan4df27AW0AKtiKyKWecxkJ44TWzDdlrbTvtqU8vKaJEe0hvkfWHcARp3SoSTDgdIOoLfux1ZyM1BYRhZC66wkqFWOrVgtlgZ_KyfG7ekC90ns3IRqqL8dM_jOZQAqB22RVR2PkjxxuQQns4e8nsA046Guex9_rIEdKUnkWzuGyTznxGVEtEWCMaaO2Ug?width=1024&height=686&cropmode=none" width="1024" height="686" />

Two front tires are fairly new (unused), the two rear ones are mismatched and cracked. New tires needed all around.
<img src="https://orwoea.bn.files.1drv.com/y4mfpTPNnOeqYSqbeV5S7Gb8ZbbMKov6J6g2c4mypJkSrPlQ8JoOI5rtJsjqutMrDYAvHKbbmP7bh_l7KaTtxpqa4iUZW1hrzCGlPY9UvQBiDwme3BJa_r9sq2uOZ8FTyGV6YBdn4BkTqaW0TuSV_l-s0ZMO_W0bPMyeaXWNFUpYpV8MrfA61ij5iH-2PUnU6srynFHUYHRNVFyvMTZomXGUw?width=1024&height=683&cropmode=none" width="1024" height="683" />

Interior
<img src="https://orwjea.bn.files.1drv.com/y4m37xjjHMfV623KrkfLURHnGVtBeTm61ZrGVX9rKNT5w_xHDlEh3Ga5f7axkGTKSwUtsdgCr3Fw8NStJcD-3NcZiw5XU5lC16uBW7gsvTsmJVbvc6Gq5TcaYFmTJ8Dhblfg7N6zLulZ-g7LP2hfH0vNadgUafaLevA1zV0AI_rGP8bmF6PAzSS2-YHNVdwPGTVSwYP6afKU9KUZOcVMwlKIQ?width=1024&height=683&cropmode=none" width="1024" height="683" />

Original upholstery. Not sure if these can be cleaned up
<img src="https://orwiea.bn.files.1drv.com/y4musv0aqyJN5eKAYitfViJn2nYfd98YO8k0QsyHyaVIkI3y58emTLqsXMqfjYQrTVrkG6b55N81ydupF3EOUvXE8y6287AEbI5776-ZWUw6pxTzGJ--rCd-uYxHt1UjHrdvV8OKCWuFekpna3FHL-w12BhYwLQALvEXtCbGYb1gaGG78W_Vw9u3FhQ-E0SnDibLyhUzEowMUAU7DdY8XiH-w?width=1024&height=683&cropmode=none" width="1024" height="683" />

<img src="https://obwrea.bn.files.1drv.com/y4mKGQ8ubXVxJtqSiot__c4apr78gjXf9h4ROYkNlBkVSzfpm9MOI9Jqeff7G1kKESgzeTnDYNcGhnHDlLOJ5ineY8kESh3Qfxw5ut1TqRRyLJBByxmtfs_8-gR6uFtvu5SGJDDe5YqSuXcMD89KNgd3F1fnO5_CzCD7jmU1o587h45IOky55mw9XRUe4xhhc_7a_uYrQhBh7IR8-U3CvNWlg?width=1024&height=683&cropmode=none" width="1024" height="683" />


Things I know need to be done:
1.) service brakes
2.) new tires
3.) replace windshield (two large cracks in the center)
4.) replace shocks (car bounces excessively)
5.) replace all weatherstripping (doors, hood, trunk)
6.) replace headliner
5.) replace all fluids
6.) find a new air cleaner

The guy doesn't want to go lower than $6,500, but I don't think the car is worth that. Given the list of things to do, I don't know that the car is worth any more than $5,000. What are your honest thoughts and opinions on the car and a price?

It would definitely be a project, but one that seems to have a solid base (engine ran quiet and smooth, body is straight, didn't see any major rust).

-Kevin

A 54 Panama is a delightful car to drive, especially on a summer day with all the windows down.

I notice two things that I hate: someone has fabbed up an aftermarket master cylinder setup. Might want to check their engineering. The second is that the rear spring shackles are below the frame bracket instead of being in tension above it. That should make the car sit up in the rear like an old dairy cow. If it doesn't, then the springs have some major sag.

The color is pretty close to one of the pretty blues that they had in 54.

Quote:

I love the look of the 2-door hardtops. Taking my family on a cruise or to get some shakes would be a blast with all the windows down.

The current owner did mention that he changed the brake system from power brakes to manual. My guess is it had Easamatic brakes and something went wrong with it. I believe he still has all the old brake parts in a box that would come with the car. Perhaps I can fix and reinstall?

The car seems to sit level as it is now, so perhaps those springs are sagging. Are replacements available?

I also realized afterwards that I didn't see the fender skirts. I'll have to see if he has them and if they are painted.

-Kevin

Don't know the value but it's an attractive car! As for the springs being available, those can always be made by spring shops and one of my Patricians has such replacements although they're a little to stiff for my tastes.

Quote:

I do like the look of this one also. I think once the trim is polished and installed, and the chrome redone on the bumpers, it will look pretty sharp.

I just checked Kanter and they have replacement springs listed for $600. So if I need to, I at least have that option.

Here is a comparison between the Panama pictured here, and another one that has been fully restored.
<img src="https://obwsea.bn.files.1drv.com/y4m_gtSfJcVCYbzalG-6QAjKpAn7INoOmZpTcuC2w4W8IX4PVOqwins0HAHvfDlWy587Hc4JpPSrBD8fYqFXsycQRFYP7j_F9rSp9HbYWk0MTKXKnNRca0Ev6Kv1mNAfE0vjtu4dxKYKClQuiC1-A2QfNmfuuDX26RTtDQXLQKXXiOPA_rcHuNv9I1T2N1uNeNbPUadSYKvlEFjG-8MQzuz7g?width=440&height=660&cropmode=none" width="440" height="660" />

<img src="https://obwnea.bn.files.1drv.com/y4mJbP6zcCE-1CtlcVNns1cnQ3teGnxj2I9LSPn4tlj_folAGxz1UiDSm6GhLY8yHLIBKaWsmL0kc0ZaejdoFBBSBoPi9SQnt4NrfwLfiQyQYp7QilN7pR40VAW6oxEMutOkaitasfAZ2uu3tdSf_gTGFD2Idb6WI6RmDv5oWvts4iQBqqRxcIvsbkpPLNJhdxjsk0bnle8AfUvSC9kzXgDYA?width=990&height=660&cropmode=none" width="990" height="660" />


As a side note, I don't think the exhaust is complete on the car. It isn't loud, but I couldn't see any evidence of exhaust piping under the rear of the car.

According to the NADA Classic Guide (May to August 2020), The low value is $5,475; the average value is $13,650; and the high value is $24,500.

Hagerty has the Panama's estimated around the same. Just above 5K for a condition #4 car, which this is.

Just spoke to the guy today to ask a few questions. He does have a clear title, car hasn't been registered in a long time. Last ran 2 years ago before starting it up for me to look at. He never had the fender skirts, and the brake work was done prior to him owning it. All the original brake parts including master cylinder are included with the car though. So perhaps I can rebuild those later.