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Here's a 1950 super deluxe coupe that I'm told needs restoring. The seller states the engine turns freely but mentions little else. I'm in the middle of reaching out to them to ask for more specifics, such as condition of interior, body, mechanical specs (3 spd + overdrive or Ultramatic). They want $3K for the car in current shape. Don't know if I think it's worth it, given the car isn't running, but it looks rust-free, and complete. I need to inspect it more closely. What do people think it would take, $-wise to restore this to #3 or a #2, and would it be worth it?

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Your photos are quite small and do not show the interior or engine compartment. If it is a true rust-free car (discounting surface rust), the price seems in line. Many people would spend three times that amount or more fixing rust (panel replacement, or patch panels, floor boards, etc), so you're ahead of the game before you even start.

You have to decide how nice you want it before you start restoring it. There is a HUGE difference between #2 and #3 condition, and involves a completely different type of restoration.

You can turn this car into a #3 car by doing a cosmetic restoration and mechanical overhaul.

You CANNOT turn this car into a #2 car without doing a full-blown nut and bolt restoration. A #2 car is a car that could win awards at ANY show entered. A true #2 car is often mistaken for a #1 car.

After reading all the posts on 'When deciding what to buy . . .' I think almost everything is covered there in terms of reasons for and against. I'd agree with everything said, and some points are more pertinent than others, especially about buying the 'best' that you can afford. With that type of buy, most of the dollars have already been spent, and so there tends to be some increased value in the purchase (- like hundreds of hours of labour for no cost).

This '50 Coupe looks like it needs quite a lot of work, and only a really good inspection will tell you what is needed.
As a starting point, $3k initially seems OK provided no rust present. Personally I like that model, like the idea of spending many hours making it beautiful, but would not expect to make money on it if doing a good restoration.

That didn't worry me greatly in regard to my own Packard resto. For me it is as much the 'journey' as the 'destination'. Just like doing the work very much. If you do most of the work yourself I think it could cost you approximately the following amounts for a really good resto to around #3: $5k chroming, $4k paint, $2k new interior and carpet etc, $2-3k if engine needs a rebuild / rebore, $2-4k various mechanical items, and add more if any panelbeating is needed. Then if there is rust to repair it's low cost and long hours if you can do it yourself, or very high cost for someone else to do it. $5-10k can easily be spent on rust removal. But for a #2 the work would have to be first-rate and look original, not home-done. Hours used would be very high with no compromise on quality of work.

So in total, with all labour down to you, that's about $15k to !8k with your labour and no rust. Could climb to well above $25k if there's even moderate rust in floors and other areas, and someone else repairs it instead of doing the repairs yourself..

Sorry if that's a bit of a shock, but those costs are from my experience with my full resto on a moderately rusty '51 Coupe, and with almost everything needing to be done (like interior / paint / most chrome). I'd say you could double that figure if you have others do all the labour.

Minor consideration... but that 23rd series Super Deluxe has a 22nd series front bumper with missing stainless steel detail pieces and chrome damage.

Although the car looks like a great project you will be money ahead to buy a good car that someone else has gone underwater on. I have already spent $25,000 fixing my 23rd Series Packard and it still needs the expensive paint and chrome. The cost estimates presented by others are not high. Good luck.

It could be a fun project. Assuming any mechanical issues are minor and only the common stuff needs to be done (brakes, tune up stuff, battery, etc). It could be a run car to just drive as-is and work on a little bit here and there and just enjoy it.

But I would think that $1500-$2000 is a more reasonable price on it. At that price level, I might even consider buying it is it was local to me.

Well, then we know it's worth more than that. Being someone without much extra money (you have two daughters, I'm going to assume you're in the same boat), I always figure if I'm willing to buy it at a certain price, it must be worth worth at least double.

Thanks guys for all the responses.

Yes, I've asked the question before, and the answer is consistently: buy the best car you can afford and you'll be better off in the long run. I tend to find that the cars I like are unusual, not cars where many where made, and consequently, I have to content myself with simply finding one like I would like, or similar. So this commonsensical wisdom doesn't always seem to apply.

I found out from the owner of this Packard, that the car has some rust on the lower quarter panels (under the doors) and that it will require some bodywork. Didn't know about any other rust issues. Stated it was running when he bought it, but he's owned it for nearly 17 years, and it's been up on blocks for about 15 of those, under storage. Advised me the engine has been rotated during that time, so as not to freeze up, and that it turns over easily, but doesn't run now.

I was also advised the car is a 3-speed manual, with no overdrive, which makes it less attractive to me: I was hoping it had Ultramatic. It also needs the entire interior replaced, according to him.

It's a very neat coupe, but given I like the trim of the 22nd series better in general, I think I will continue to look for another project in better shape. If anyone wants the seller's contact information, you can email me, and I'll provide it. The car is located outside of San Antonio, TX.

Lots of bath tubs popping up in Texas lately. Interesting.

By the by, do we have any specific figures on Packard Coupe production in the years 1948, 1949, and 1950, and broken down by models (i.e., Deluxe, Super Deluxe, Custom)? Focusing my search on a Custom 8 coupe from 48 or 49.