Hello everyone. My father has restored Porsches for over 30 years, and I have an opportunity to buy one of them from a distant friend of the family who bought one of my father's restoration projects from the 90's.

Details:
1977 911 T, Targa
Widebody Conversion
3.0 6 cylinder w/ fuel injection conversion
60k original miles
Interior 9.5/10, exterior 10/10
Salvaged Title
Since it was restored, it has been maintained by a Porsche mechanic. Driven under 2k miles/year.

This car was "totaled" before my father restored it. And this man, who is pretty well off financially, needs to "make room in his garage," and asked my father if he wanted to buy the car back. He offered to sell it for $10k. My father then said that he had too many projects he's working on to house the car. Then the man said to make him an offer. My father still turned it down.

I saw this guy at a gathering recently, and brought up the subject. He said he'd like to sell it to me if I'm interested. He told me to contact him and make him a reasonable offer. He also said that he planned on unloading it in the spring if neither my father or I am interested.

To make a long story...shorter...I want to buy the car. It's a beautiful Platinum color, and it's in amazing shape. It does have a salvage title. I am also not exactly rolling in the cash, but mechanically inclined with most things. He told me to make him an offer...I've seen these going from $6k to $16k on forums, car sale sites, and other listings. The NADA high value is from $16k to $20k (none of these sites can include a salvage title in the estimated value). When he bought the car off my father in 1997, he paid $16k. What should I "offer" him? What is the car actually worth? This guy is an extremely nice guy and I don't want to take advantage of him...but I DO WANT THIS CAR.

Thanks in advance for any insights or advice.

 

My experience is that most cars with salvage titles end up proving they need more work than you think. As a rough rul, just divide the value of the car if it had a good title in half.

 

10M is very reasonable and you already have an inside track on this car with your father having been the one who restored it! Ask the old man to have a look at with you and go for it. The owner likely does have some other toy(s) he needs to make room for until he tires of them....