The value of a non running project, after you are gone...

I just had a very uncomfortable experience, car related.  The owner of the car has died.  He was his own worst enemy, it was not something that happened quickly.  He had a garage full of stuff. Now his ex-wife and kids, two wonderful daughters that live out of town are left to address the issues.

The car in question is in that state that with time and money would be an awesome vintage auto cross, track car.  You could drive it on the street but it would drive like a race car. It is not stock.  It has been off the road from 2009.  The gas in the fuel cell is ancient.  The 13" tires are almost round and might pump up but would never see the road again. Not with me behind the wheel.

The flairs look like they where installed correctly.  The paint is going to need to be redone.  He had sanded out the strips. The pearl on red turned the color purple.  Barney Purple.

Not what the owner was looking for.  I had know the owner for years.  Back when you could talk with him I would ask him about the car.   As I am prone to do I asked to be on the list if he ever decided to move it on.  It never happened.

The car in question is a 1974 V6 Capri.  In its current condition it needs everything mechanical refreshed, I made no attempt to even sit in the car.  I do not want to be tempted.  I know that I would be into it for thousands, it is the starting point that concerns me.  They are asking me to make an offer,  what I am sure is going to be the first of many.

It was a wake up in one respect, I need to finish what I have so my kids have viable options.

Because I can never see myself selling any of the project cars or tools, Mrs NOHOME has been given instructions on how to deal with this eventuality.

"Open the shop door and put a sign on the lawn that says that they can take everything for $1000, but they have to  take everything and leave a clean swept out shop" The $1000 is only there to cover paying a service for a final clean-out should the vulture not do an adequate job of leaving a clean shop.  

My opinion about the Capri is that you should make an offer that would enable you to build a Challenge car and offer to empty the rest of the shop's content  at no cost to her if you are in a position to do so. I of course say this with no insight into her financial situation and how much the $$$ might mean to her.

If some well meaning person has already gone through and told her that the shop is full of valuable tools and a rare classic car, then I feel sorry for her.

NOHOME said:

 

If some well meaning person has already gone through and told her that the shop is full of valuable tools and a rare classic car, then I feel sorry for her.

yeah, planting the seed of value can certainly be a curse, because the survivor may feel some guilt or remorse about selling for less and moving on with their life, when what they really need is to be able to move on with their life.  not true in every case, but i've seen it many times.

Mrs. preach said she'll just start a car museum after I pass.

Hard to value someone elses project and be convincing. Maybe show them the Hagerty evaluation for poor/fair and go from there.

EDIT: When my first step-dad passed away my mom had to sell his '63 split-window Corvette. She got $8000, which was probably pretty fair in 1981.

AngryCorvair (Forum Supporter) said:

NOHOME said:

 

If some well meaning person has already gone through and told her that the shop is full of valuable tools and a rare classic car, then I feel sorry for her.

yeah, planting the seed of value can certainly be a curse, because the survivor may feel some guilt or remorse about selling for less and moving on with their life, when what they really need is to be able to move on with their life.  not true in every case, but i've seen it many times.

My brother hinted at something similar as we start to deal with my dad's stuff.  I told him that he is welcome to find someone to buy anything and he can keep the money.  Then he reconsidered.

I know this road all to well.

I've had to tell more than one distraught relative that the treasure of sierra madre was worth far less than the owner said it was.

If you want the Capri make a reasonable offer and have some documentation to back it up.

Otherwise show them what it may be worth and go from there.

I had one person get very angry with me until I informed them I wasn't looking to but the car.

This is a lesson to all of us........don't saddle you're family with this.

alfadriver said:

My brother hinted at something similar as we start to deal with my dad's stuff.  I told him that he is welcome to find someone to buy anything and he can keep the money.  Then he reconsidered.

yep.  when my Dad passed and i was looking to get into the auto industry, i knew i had limited time to get the basement and sheds emptied out for Mom.  My buddy Homeboy and I were pretty ruthless in leaning toward "scrap" in the keep / sell / scrap decision.  My older brother used to stop by occasionally and take E36 M3 from the scrap pile, and it ended up in his basement.  Now he's in assisted living after being diagnosed with MS 30 years ago, and there's another generation with a burden that shouldn't exist.

my favorite story from all this:

Dad had basic machine shop in basement.  Sometimes, he'd work down there all night.  He'd piss in a cup or jar or whatever, and dump it out when he came upstairs.  Well, he pissed in a plastic Coke bottle and put the top on and put it on the bench and forgot about it and it got hidden by his packrat gene.  Then he got sick with cancer and died, and that bottle of piss stayed right where it was.  When Homeboy and I finally unearthed it, I knew what it was and set it near the door, to dispose when we were done that night.  Well, my packrat brother showed up and saw it, and he said "What's in the Coke bottle?  It's definitely not Coke."  I told him it was a bottle of Dad's piss.  Naturally, he didn't believe me, knowing that Dad hadn't been in the basement in at least 5 years. So he unscrewed the top and, in violation of chem lab rule number one, took a great big sniff.  berkeleying dumbass.  He gagged and retched and dry heaved his way out the door, somehow not spilling a drop of that piss in the process, then returned to the basement to give me E36 M3 about not stopping him.  berkeleyer, I told you exactly what it was.  Go home.  Homeboy and I laughed so hard we nearly cried.  I tell that story at every opportunity, as it's probably the second happiest memory I have surrounding my Dad's passing.