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Have you guys seen this listing? Apparently this guy found nearly a whole car worth of NOS parts, and did a complete frame off resto / paint / rebuild. Including:
- NOS Torsion Level motor, Grille, Generator, etc. (where in the world would you find those?)
- All NOS chrome
- Custom replica exhaust
- All new replica wiring harnesses
- "Steering wheel restored"
- Entire TL disassembled and reassembled
- Engine dyno tested after rebuild
- Trans, Steering Box, PS Pump, PS Pwr Assist Cylinder, and several other parts rebuilt by Ross here
- etc.

Supposedly 118k spent over 8 years and it can be yours for 70k. Thoughts? Sounds like a fine price even at 100k as TOP notch Caribbeans are in the low-mid 100k range it seems.

https://topclassiccarsforsale.com/packard/717914-1955-packard-caribbean-convertible-concours-restoration.html

It’s over-restored. IIRC I argued with him about the high gloss frame several times… never in a million years would Packard do that. Could be I’m remembering the car wrong, but the pics look the same as the eBay listing a few years back I was arguing about. Not even sure why I cared….

Still seems like a lot of work left to do........

It looks like none of the interior has been started or ordered. So there is 10-15k additional right there.

The work that has been done looks very nice, if not too good when compared to how it originally left East Grand Ave.

There is apparently an issue with the website where that '55 is posted. Many listings are out of date. I remember some of the other Packards as being listed on other sites around the same time as I bought my '39 and that was back in 2016. Several Packards listed by RI dealer Tom Laferriere I know are sold. A 1941 160 listed by him actually sold about 2 years ago. So, I'm not certain if that Caribbean is actually still available. I have seen this issue before on other old car websites. Cars get listed, then the postings never seem to get taken down.

That site is the type that programatically "harvests" listings from other locations in order to create revenue through the ads on the site by drawing people there who might click on them.

For anyone interested, it is currently listed at $65k on ebay in the Packard section.. apparently still available.

Seller might still have to come down quite a bit further. A partially completed project is a difficult sell in today's market.

Not sure how much you would have to spend to complete, but this fully restored AACA National Award winning 1956 Caribbean convertible did just sell at Mecum Indy for $154K. So maybe you could buy the '55, finish it and still come out ahead.

https://www.mecum.com/lots/553734/1956-packard-caribbean-convertible/

But the $154K does look like it might be an anomaly in light of other recent '55-'56 Carribean auction sales.

This fully restored 1955 brought only $78,100 at RM Sothebys Palm Beach in 2020:

https://rmsothebys.com/en/auctions/fl20/palm-beach/lots/r0029-1955-packard-caribbean/841109

This solid black '55, advertised as having only 19K original miles, brought just $56K at RM Sothebys Amelia Island in 2020:

https://rmsothebys.com/en/auctions/am20/amelia-island/lots/r0110-1955-packard-caribbean-convertible/851658

And this '56 brought $82K at 2021 Mecum Indy auction:

https://www.mecum.com/lots/475689/1956-packard-caribbean-convertible/

Have examples of other recent auction sales, but none close to the $154K for the '56 at Mecum Indy 2023. All were well under $100K. Any thoughts?

Quote:


Auction companies and cars in auctions... and frankly so-called "meticulous restorations" and "award winning restorations" are usually hyperbole. Often wildly so. Some might buy into this kind of talk as translation of value.

This is particularly true when people judging these things, selling these things and people restoring them have no idea what they are looking at. Some go by "guides" which themselves have errors and omissions.

Case in point.

Look at the first 1956 Caribbean here listed as a "meticulous restoration"...
• The anti-short cover for the regulator is completely missing and wiring to the regulator is rolled like spaghetti.
• Decals on the air cleaner pots are wrong type and wrong color.
• Decal on the oil canister is missing
• There are 2 pressed rings on the lower masts of the rear antennae. These are not Caribbean or V-8 Packard rear masts, but rather transplanted front fender masts. Original Caribbeans and other V-8 rear antenna masts only had 1 (one) pressed ring on the lower mast section.
• 1956 Caribbean convertible tops had a grain on the outside. This car appears to have a 1955 top installed.
• The statement that the interior cushions for this car are "reversible to tan cloth" is wildly off, since the factory reverse would have been a grayish boucle. Tan goes with pink? Not in the factory upholstery book, nor in any original 1956 Caribbean with factory interior.

And there are other issues with this Caribbean.

So. While this is a very pretty Caribbean, "meticulous restoration" and values associated with this terminology and other auction company claims are not always a gauge.

Furthermore, people buying these cars are rarely experts. Just people who want one and have the $ to buy.

Oh... and let's not forget... the auction claims "287 built" of 1956 Caribbean convertibles. Wow. Let's amend that to the real factory count of 276... please?

I have no knowledge of this particular car.
Caveat emptor still applies.
As it was said, he may have over did somethings, not sure. But today it's not uncommon to powder coat frames. If you choose the wrong powder, it'll show. Imron was another paint of choice a few decades ago, and it shines like a mirror. If you leave it factory and unpainted, it'll eventually rust over and neither be correct. I'd opt for protection.

It's always a crap shoot, when dealing with these type internet offers. You have to go see or expect the worst. Acquaintance who's also a classic appraiser tried to buy one of his dream cars, that was a regular auction circuit queen, aka "hot potato", and flew to go see and he was never so disappointed in his life, with the rust bucket it really was and the guy that was selling it that bragged it up. Looked good on TV and the pictures. I went to look at some auction cars that were from a "museum" and they're made to look good outside the ropes, but were not solid nor running as advertised.

The pet peeve issue I run into mostly even if it presents well, is the work is often substandard, even on parts, if done by the owners, without the skills /equipment, especially if internet is involved. Could be a complete start over project.
Hammering a depression in a rust hole and JB or liquid metal over it and bondo smooth is not body work. Very hard to correct, better to be untouched. I'm going through that with a fender I recently bought on line. It looked good but had a few concealed bad patches. I bid accordingly. You can't even send them back because shipping is ridiculous - half the cost.
It's a coin toss, because they don't make them any more, only what you can find at the time for the price. Loads of stuff is ruined by outside storage, sitting, and poor workmanship. Pictures only go focus deep. The jewelry items cost the big bucks because it takes a truck load of money and time to get it restored right - 100 point. They don't give that away. Usually sells for less than it cost too. Very few models appreciate, it's market fluctuation that cause prices to jump up or they don't sell on reserve.