Need advice on purchasing 65 GT Fastback

[Spitfire]

I bought this car in '96 and sold it to a friend within a year when I left for the Navy. Now I get a call saying he wants to sell it and would like me to have it.

Here is the scoop.
1965 GT Fastback bought for $3600, he says he has receipts for about 12k in the car. However, he basically did all this work until summer 99, from then on its just been driven.

Its primered right now, with no bad rust. the motor is a farily well built carb'd 302. The interior is pretty butchered, rear seat is pulled out with a piece of metal placed between the interior and trunk. The front seats are gone and some newer import seats are in it, he modified the rear side pillars on the interior to allow the seats to fully recline. Well you get the point.

The car is an auto, he has done some chasis stiffening, SFCs and what not. He says there are no wiring problems.

It needs shocks, and he said it could benefit from an alternator upgrade (I guess it has the original with voltage regulator).

So, he wants to sell it for 7500 to me. Do you think this is a fair price? I know its subjective, but in general? He said he is just going off of what he's got in it, not what they are going for on ebay and such.

Thank you for any advice you can offer.

 

[65fastback2+2]

to me it depends on how much you want it back, my 65 FB was restored with 36,000 original miles, original motor, tranny, Auto Rama show winner and like a dime size worth of rust on the whole car and I got it for 10 grand. It coulda used carb rejet/rebuild and rear wheel bearings when i sold it, other than that, it was like brand new. so, it just, imo, depends on if you are attached to the car or not. Sounds like a lil high to me considering its all modified and returning it to original GT status would prolly take more than its worth.

 

[eric n]

Go to www.collectorcartrader.com and see what they are going for and get an idea from there. Seems to me a 65 fastback for 7500 is a steal. In good condition they are going for 20k. Ultimately you know what kind of shape the car is in. See what the market is asking and decide how much you want it. Where in the high desert are you located?

 

[Spitfire]

Thanks for the info. Nada shows low retail at 7300. the car is probably just below low retail according to their description. I'll check out that link.

I'm in NM, the car is in AZ.

 

[Spitfire]

Just talked to him again, and offered 6k. He said he'd take it.

I guess its a decent deal, haven't decided yet.

 

[68GEETEE]

A big plus is that you are familiar with the car, and you probably will want to undo some of the stuff he did, but either way, 6K for a fastback that needs work but is in driving condition is about right.