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A classic car dealer has been advertising a 1955 Clipper Super Panama on eBay with a "Buy it Now" price of $34500. The car looks to be in very nice condition and the dealer claim to know the car's provenance back to the 1980's. Just this week the car was also offered on eBay in a traditional auction format with an undisclosed reserve. After 23 bids, the car was a no-sale at $9100. That's a nearly $25K difference between the ask and what the market seems willing to pay.

So my question is this: at what price point should a car in this condition be selling? It seems to have a lot going for it inasmuch as it's a fifties hardtop with a V8 in attractive period colors. Has the market become this soft for non-classic Packards or is the seller just simply out of his mind with his asking price?

I look forward to hearing what those of you who are more active in the market think about this one.

Here's a pic for reference:

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This: "Is the seller just simply out of his mind with his asking price?"
I have not seen a V8 Clipper bring 22K in the last 4 years that I have been closely watching.
Really strong ones hit 18-20K but the market is the strongest in 10 years right now.
It is really unusual for someone to overpay the market by 100% but there are special cars & special exceptions.
That said, it is a rare 400 that brings 35k+ but again, it would take an exceptional car in this market.
What does it take to restore one?
That has little to do with resale value.
That said, it's a real looker with a couple of minor things that would irritate a purest. With standard brakes & steering, it could still top 20K at big auction.