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We recently inherited a 1939 Packard 120 2 door convertible. It was running and driving when put away 31 years ago in an enclosed barn with concrete floor. We don't intend to restore it.
I have a friend that is interested and we are trying to agree on a price. I want to give them a fair price based on condition.
I know this is a loaded question because of all the unknowns, but anyone that could help give me a ballpark price based on the enclosed photos, I would be greatly appreciative. Thank you very much.

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Some observations from your photos.

The Trippe driving light has value and should be factored into the price. Usually they are mounted in pairs, but not always. Do you have the second Trippe?

Notice a coil ballast resistor mounted on the engine. Was the car converted to 12-volts? If not, no reason for a resistor on the ignition system. If so, not an adder to value.

Also note the car has been converted to sealed beam headlights, this change, while somewhat common in the day, will not add value now.

The car sports a two-tone non-standard paint scheme which will not add value.

It is a convertible and is a highly desired body style. Plus it is an 8-cylinder 120 which is more desirable than the 6-cylinder 110. I would to to the NADA site and look at values for this car in their Classic Car section as a first approximation.

(o{}o)

I didn't know what that light was called. We only have the one.
I didn't have much luck with NADA because the prices vary so widely and I couldn't locate this model for 1939. Also, I know condition will be an important factor.
We know very little about the car. We just insist on selling it to someone that will keep it original and not make it into a hot rod.
Thank you for taking the time to comment.
Any rough idea on price?

Does the engine turn over? is it free? (to spin)

Not sure if the motor is free. I need to find that out.

Here is what NADA says about the value of you 1939 Packard 120 (1701) Convertible Coupe (1298).

Low - $32,900

Average - $63,300

High - $110,000

Original Price - $1,288

I hope this helps. Good luck getting the Packard into the right hands. It is a most worthy motor car and even with a lot of work will make a great car for someone.

(o{}o)

Thanks! Those prices are just so widely varied that we are having trouble deciphering what our car is worth given it's current state.
We literally have no clue whether it's worth 10k or 30k, but we are trying to do our own due diligence before we screw up and give it away.

Your car needs a full restoration, which will exceed its value. There is a similar restored car ( a 1940 -120 conv.coupe) on ebay right now for 55K. I've been around these cars for 40 years, and "in my opinion" the car would probably sell in the open market for around 15K. Maybe a little bit more if the engine were running well enough to eliminate factoring in a rebuild cost, but otherwise the car will need EVERYTHING done to it, an expensive and time consuming task. Someone will have to love to car to do that. If you can find that person, agree on a price and sell it. Anyone else may otherwise be looking to flip it or make a streetrod out of it.
Its a nice project, but unfortunately the cost of restoration has killed the market for unrestored cars.

I hate to be the wet blanket here but that car needs a LOT of help just to get rolling again. Think about it, being stored for 31 years is a LONG time. Gas tank cleanout, fuel lines, turning over the engine for the first time.

Any realistic buyer is thinking of the cost, time and labor just to get the lowest end of the value range.

Here is what any buyer will be doing. Start out with a low value of $32,900 and now think of the cost of parts to get it running again. Now value the time and effort you will expend to get it to that point. Subtract that from $32,900 and you now have a starting point for negotiation.

Remember, if you cannot do this work yourself then, you will have to hire it out and pros want about $50 per hour in labor - that might be the number your prospective buyer is thinking about too.

My guesstimate of you car's as-is market price would be about half the NADN low value.

Where is the car???? State and nearest city??!