Here's another question regarding what a truck might be worth. I've run across a '51 F1 pickup that is pretty unusual. It is a very low mile truck, less than 30,000 miles. It remains in the original family and was inherited by a young man who for some reason disassembled the truck. The truck is totally rust free and is super straight. The engine and transmission are not with the truck....go figure! It seems to be all there with the exception of the aforementioned items. They have lost interest in the truck and want to sell it.
I have bought projects before and find out later that many parts are missing. This may be a similar situation. What are your thoughts on a truck like this?

 

A lot of that is dependent upon the location of the truck and exactly how far it's been taken apart. From where I sit, I'd look at it as buying a lot of parts and not an entire truck - especially if the powertrain is missing. Without the low-mileage engine and tranny, it doesn't really matter if the rest has 30K or 300K miles on it. The fact that it's disassembled and missing the drivetrain seriously reduces its value. Personally, I wouldn't pay more than $1000-$1500and then only if the body is truly cherry.

 

Actually I'd like to offer you the other side of the coin. Usually parts for these trucks will get you more than the truck as a whole will.

If (IF) this is an "Extra Cab," the windshield strip alone will sell for $250-$300. The chrome wings $150/pair. The drivers side door latch with lock $75. Inside door panels $150-200. Magic Air heater with complete duct $300.

The front fenders alone - if they are F1 and not rusted through will bring you $600-$750. Stupid things like the Cowel Vent $50. Grille $150. Original back bumper $400. Running boards $300 easy. You get my point.

And these folks have done you a big favor by already taking it apart and getting rid of the drive train!

I'd take $2000 cash over there ready to load and flash $1500 of it in front of them - go up to $2000 if necessary. If they knew what they had they'd sell it as parts.

If you do that and get this stuff, send me a PM I'll buy the heater and back bumper from you right off the bat.

But I'd hurry, "Ilyas Flying Bonus Built Parts Caravan" is probably already on the way. LOL!

 

A third point of view, I bought a completely, and I mean completely, disassembled 1937 Ford coupe from an antique-er who was transferred out of town. I had to put it halfway back together to see where everything went but it worked out OK.

In your case the most important thing is, does it have a title, that alone is worth much of the value compared to the hassle if no title. To be honest (and biased) you would probably have to change the running gear anyway.

Ask for their price first, then offer what you feel comfortable with (if necessary); what something is worth is what ever someone wants to pay for it.

If it has a title, buy it, and rebuild it.

 

NOTE: I've just spent the last ten minutes writing my response in the mean time Julie and BOR have replied with basically everything I was going to say. I didn't want to toss all of my typing away so I'm still going to post what I typed:


There are disadvantages and advantages to buying truck as you described.

First, I personally would go at it as BOR said, look at it as a pile of parts. If this is totally rust and dent free then the parts alone could be worth $2000-3000 dollars. The front fenders alone could bring $300 or more, each. No one reproduces them in steel and are extremely hard to find in repairable condition. A set of repairable fenders can easily go for $100-200 a piece depending on condition and how much work they need. Same as the rear fenders, maybe $200+ each. The cab and doors I would think could bring another $500-700. Even the box could bring more than a reproduction box which sell for $1000+. I know that by the go by the numbers restorers value good, clean, rust free parts a lot more than reproduction parts because many times reproduction parts just aren't the same, nothing is like original. Also, do you know if this truck is a Deluxe or 5 Star model? If it is the trim pieces are worth some bucks. Then you can get some more for the more common items like steering column, brake system parts and grill and hood.

The above being said, you will have to find the right person who is willing to pay the price for pristine parts. eBay is your best bet, although right now seems to be a bad time to try to sell anything. The prices, from what I can tell are quite depressed but if you could hold onto the parts and ride out the current slump you will be able to get some good money for it. They aren't making the parts I listed above so I feel they'll only go up in value.

Another thing to consider is location. Ilya, 51panelman, seems to stumble into deals on parts trucks on a regular basis but he lives in sunny CA where there trucks were plentiful and the climate is kind to them. You're in central IL, not too far from me in southeast WI and I assume your climate is a little better than mine but not much and they like to layer streets with salt every time it snows making old iron very rare and finding good, solid iron next to impossible to find. You'll be able to get a lot more for these parts in our area of the country and the to east than you would on the west coast and SW part of the country. Shipping parts from the nicer climes is also an added cost so you'll be able to adjust your pricing accordingly.

If you're considering this truck for a project then there's another whole different way of looking at it. First, no matter how little you think you're going to put into the truck you will never get the money out of it once it's done. Realize that before you start and you won't be disappointed. What do you what to do with it? Stock, modified or somewhere in between? How much do you have to put into it? Once you figure out what you can afford it's only up to you to figure out how much it's worth to you. If I were in this position I would say, going by your description, $2000 would be a decent price, more if I really want it. I've paid $500 for total beaters just to get some parts off of them.

You'll be starting of with are really solid base, even if you're missing a few parts. Drive trains are the least of your worries. If most of it is missing you can find something to stuff under the hood, either original which is more expensive or a common modern drive line, which would be far cheaper. You would also be saving a lot of money and time on body work by starting with rust free parts. If you have all of the major body parts you'll be able to find or make the small pieces you're missing.

 

If you choose not to buy it I will come get it for a couple of thousand myself!

 

You better get that truck before I sniff it out!

I would agree with everyone's points. 51/52 parts are really hard to come by. Not many trucks were produced in these years compared with 48-50. Obviously, I tend to pay as little as I can for parts and parts trucks.

Parting out and reselling parts from time to time is my hobby. I've done it for several years. I save every part, because there's always a buyer.

I would agree with Bob on the depressed eBay prices. Just to compare, a few years ago there would be bidding wars for the stainless windshield trims and they'd sell for $250-300 in the end. A few months ago, I put one on eBay and barely got $197.50 for it in the end.

I've sold 51/52 upper fenders with the bottoms completely rusted out for $250 each, but again, this was a few years ago when the economy was good and everyone had extra money to spend.

There's still a market for some mechanical parts, however. The hot/rat rodders are always after the steering boxes, transmission crossmembers, pedals, complete brake assemblies, master cylinders, etc.

It's hard to sell larger parts like cabs and beds due to the shipping involved. You'd have to sell them locally, thus your buyer's market decreases. So, parts like this might stay around longer waiting for the right person to come along or you discount the price heavily in order to move it. The other body panels, like doors, fenders, hood, etc, can be shipped cost effectively by Greyhound. You can ship smaller parts like grille, bumpers, etc by other carriers (UPS, FedEx, etc.).

My advice to you is to consider the price carefully and decide what you want to do with the project, resell it for a profit or build it yourself. Also, do you have the space to store the parts, if needed, for an extended period of time?

Lastly, find out if it's an Extra Cab or standard cab. As Julie has pointed out, the Extra Cab items, if all there, are worth some $$ and are still in demand.

Take pictures of the stuff and post here. We can then give you a better overall estimate of what the stuff is worth and/or what to pay.