I know a guy who is a very typical car/bike/project hoarder type. He would fit in here well 
. He had a 260z parts car that was buried in one of his storage units, and it had no transmission, hubs locked up, with rust. He sold it to me for $500, provided I cleaned the unit out, and got the car out which I did. I purchased it intending to build a challenge car, but after reading the rules it seems I need to establish fmv as this is an inside deal. I can take more pictures, but I had these from when I got it home.
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i'd call it $500. i mean, on one hand it's a 2-seater Z. OTOH, it's a steaming pile of needs everything.
$500 looks high to me. (sort of kidding). good luck!
Looks like you paid $500 for a $500 car. No one will be upset about that.
Hmmmm ... my read of it and applying the rules is $500 plus your state's minimum wage rate for the hours cleaning out the storage unit.
That said everyone does this wrong. You want us to agree with a value. State the value you want and see if you can get us to agree. Don't ask us for a value because we suck at reading your mind and then agreeing what it wanted.
I think this car has a fair market value of $500. If I could post smells in addition to pictures it would help drive this point home.
While the argument could be made that one could add $45 to the value for $15 x 3 for cleaning out the stuff to get to the car. I don't think it applies since it wasn't "part of the deal." What I mean is, the seller didn't ask me for "$500 plus cleaning out my storage unit." He said "$500. Oh and you will have to move some stuff to get to it."
Stampie's points are well taken, and I will keep this in mind moving forward.
