Pricing of 29 Hudson Standard

Unknown

I know this is a tough subject, because the price of a vehicle

depends so much on condition, but I'm going to try.



I've posted previously to discuss my interest in a '29 Hudson

Standard that's available for sale in Los Angeles at a Korean used

car dealer. The price has come down from "outrageous" to "wildly

unrealistic" in sticker price, and "merely unrealistic" in

discussions. The dealer is currently offering to sell for $6500.



Thanks to a referral from Paul O'Neill, I've found a knowledgeable

mechanic who will come in and take a look at the car next week,

hopefully able to get the engine running so we can see if there's

anything seriously wrong with engine/driveline mechanicals.



Here's my quandry: I had been thinking of trying to do a deal at

about $5,000 to maybe $6,000 tops, which seemed reasonable to me

given what I've seen in pricing for cars of similar condition and

vintage.



However, last night my wife and I were browsing through a copy

of "Ultimate Collector Car Price Guide," published by the editors of

Cars and Parts Magazine. It suggests a price for a 1929 5P Sedan of

about $2,000 to $3,000 for a car in the condition we're looking at

("needs some work to make it a driver"). This price -- and their

prices generally -- seem low compared to what I've seen on eBay and

elsewhere on the Internet. Based on this book, my wife thinks I'm

preparing to pay 'way too much for the car.



So, the questions are:



1. Does anyone have any comments about the relationship of Ultimate

Collector Car Price Guide to reality in the marketplace? If they're

right, there's no way I can do a deal without spending more than the

car is worth. The dealer will never come down that far. So if y'all

think the reference book is right about the price, I will abandon

this car as a candidate. The dealer will NEVER come down that far.



2. Is anyone willing to comment on whether or not $5K to $6K is too

much to pay for a '29 Standard Sedan in this condition -- assuming

that the mechanicals check out OK. It has desirable qualities,

including two tire wells and overall good body and chrome condition,

and an engine that appears pretty much intact. The radiator cap and

radiator badges are missing. Interior upholstry is in good condition,

and interior hardware intact except for one broken handle on the

steering wheel controls, and missing "bell" on the shift lever. The

roof is recently recovered in vinyl -- modern material, not period

stuff. No sign of water leaks in the roof. Wheels need de-rusting and

painting, but otherwise seem OK; all the wood spokes are solid,

though needing stripping and repainting. All six tires need

replacing, which will cost $1,000 right there counting tubes, etc.

The trunk is a modern creation, not original. Running board mats are

missing.The engine appears visually to be mostly intact, probably

with a new electric fuel pump. But the engine doesn't run, although

the dealer claims it DID run 18 months ago when he drove it about 10

miles onto the lot.



Thanks for your help and advice.