Help determining a reasonable value for an L-29 Sedan

  • 8-100 A Cabrio
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10 Jan 2020 03:13 #39213 by 8-100 A Cabrio
Hi guys:

I need a bit of help : A friend of mine is going to sell a 1929 Cord L-29 Sedan (not a Brougham but a regular sedan).

The car is in Mexico and was sold down here originally by the local distributor for the company. It has an interesting story: the original owner, who valued it very much, at some point literally built a wall around it and the car was kept that way for years. Eventually, once the original owner died, the car was sold and bought by my friend's father. Apparently, it has around 35,000 original miles, and he thinks upholstery is still original. The car was serviced and repainted (or lightly restored) about 10-15 years ago, but has not even been started for the past 6 years. It rode fine before that. It is a very dark blue, with black wheels and tan interior, done to a good standard, except for the electrical system which would need to be replaced for a proper one.

If I consult price guides, I find prices rather high, over $100,000 which surprises me as I find really very few sales of sedans as to determine values properly, and the few I have seen for sale, older restorations or users, seem to go for around $55k to $65k. My friend's car would not be a #1 car, but more of a #2 or perhaps even a #3, given the condition that it is in, that it surely needs a bit of work and hasn't been used for some time.

What I am trying to determine, is: What would a reasonable value be, for both buyer and seller? I want to get a fair value for both parts, and if that works for both of us, I would love to purchase the car from my friend.

So, that is why I need some expert advice... any ideas on what a fair value for both parts be? I am attaching a few pics when the car was at another friend's museum and recent ones (you will see the rather dusty engine compartment, compared to the older pics).

Thanks for any help,
Victor

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  • 8-100 A Cabrio
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10 Jan 2020 03:23 #39214 by 8-100 A Cabrio
Replied by 8-100 A Cabrio on topic Help determining a reasonable value for an L-29 Sedan
Recent pics...

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10 Jan 2020 03:26 #39215 by 8-100 A Cabrio
Replied by 8-100 A Cabrio on topic Help determining a reasonable value for an L-29 Sedan
Older pics... when at the museum:

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10 Jan 2020 03:28 #39216 by 8-100 A Cabrio
Replied by 8-100 A Cabrio on topic Help determining a reasonable value for an L-29 Sedan
That's it for pics...

Any help as to venturing into guessing what a reasonable value for both seller and buyer would be?

I would be very grateful.

Victor

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  • Jonathan Richards
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10 Jan 2020 04:55 #39218 by Jonathan Richards
Replied by Jonathan Richards on topic Help determining a reasonable value for an L-29 Sedan
What a beautiful example of a Cord Front Wheel Drive Model L-29. This set of pictures should generate well considered estimations as to valuation , both for your friend the seller and yourself. The old saw that a fair price is what a willing buyer will pay to a willing seller is OK , BUT when it comes to a jewel such as this it is anybodies guess. Could you share with us the serial and engine numbers from this machine. Thanks so much for posting this question and wonderful photo images on our ACD Club website. This will really excite the L-29 group. I hope we will hear from Mike Huffman , Dick Green , John Bools and the other L-29 cognoscente. Stay tuned.

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  • mikespeed35
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10 Jan 2020 05:24 #39221 by mikespeed35
Hi Jonathan, I had to look" cognoscente" up just to make sure you weren't calling me a pernicious name.
CORDiallyMike

Mike Huffman
The following user(s) said Thank You: 1748 S

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