Packard Forum Index » V-8 (1955-56)

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$55,000. Market is way down for collector cars.

For what I can tell from photos, paint, chrome and upholstery look quite nice but if someone wanted a correct and authentically restored example, this one surely has plenty of issues, large and small. I'd peg it's value at perhaps $80,000 - $90,000; whether it can get this in this climate remains to be seen.

The problem here is that this is a very uneven market. There were a very small number of this model built and you can go for a couple of years without one being on the market. This year there have been at least 3 or 4. So, if you want one, you could have your pick of colors and level of restoration. An unusual year.

I believe this car was a "no-sale" at one of the Monterrey auctions last month with a high bid of $80,000. If the seller could wait for one of the Scottsdale auctions, one man's opinion is that in an environment where there are a lot more buyers than the Monterrey auction, the sale price could be near or above $120,000. Mark Hyman is offering a solid black 56 Caribbean convertible at $175,000. A great looking car.

Of course, the value of any of these great cars is finally determined by what the buyer and the seller say its worth on the day the deal is done. Given the right set of circumstances, $55,000 could be the answer.

One man's opinion and its is worth what you're paying for it!

I saw that black convertible years ago at the Leheigh Concours in PA.It was unusual in that it had factory air and a seat color of mustard and black.I don't believe Packard ever made anything that hideous.I guess he must have been the same person who restored a 54 Caribbean that I later saw at the Greenwich Concours as it was all black and had the same hideous seat colors.

Of course, the value of any of these great cars is finally determined by what the buyer and the seller say its worth on the day the deal is done. Given the right set of circumstances, $55,000 could be the answer.

One man's opinion and its is worth what you're paying for it!


It will be interesting to see what it does or if it goes. The owner has been around Packards for years and IIRC, those he appraised or sold in the heyday years usually went for pretty good prices. That might be one reason it is listed high.

Owen's estimate is well placed based on the data:

RM St. Johns Auction 2011: $101,750 (remember that the buyers generally pays a 10% buyers premium and the seller pays a 10% commission which would net the seller just north of $83,000)

Recent St. Louis Car Museum eBay Listing (now sold); $59,500 and needed some work

Recent PAC Listing: $59,500 don't know the condition

Recent additional eBay Listing: No Sale, bid to $60,000; a very nice car, not sure if it has sold yet

Recent unrestored private sale: Great car, all the components plated or mechanically rebuilt but unassembled; $60,000 ask, not sure if it has sold

RM Arizona Jan 2010; $79,500 (coming out of a disaster of 2009, a tough time to get anything close to a good price)

Mecum Indy 2009; $64,000

eBay July 2008; $79,994


So, given the fact that there have been some private sales for really good cars at unknown prices, this is a sample of the market.

Again the comments are worth what you've paid.

$65,000 with a no sale.

I'm not all that surprised at the $65,000. Besides a tough economic climate the car's got a good number of items, both small and large, that require attention to bring it to the level that the top-dollar 5699s can bring.

Car is currently up to $41,100.00 with reserve not met. With a "Buy it Now" price of $120,000.00, it wouldn't surprise me if the reserve was $100,000.00 or more. My money is on a "no sale" ending.