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I can't believe the bid price on that thing. To me, I would not go above about $1500 if it was local and I wanted to take on an ugly project. The term Rat Rods opened up a whole new market for incomplete junkers and odd rides.
The way things are in California right now, anything with an original title is probably worth $2k. (Have you seen Boyd Coddington's troubles?) If the body is truly rust-free, how much would that be worth? Another $2k I'd bet. I don't think this is that out of line, given where it is, and what it is. I won't be bidding, tho...
I took one look at this thing and thought it could need some serious work as opposed to the hacking that has been done. The person who had this had some ideas, not good ones in my mind, but never followed through.
Sad part is, not too many years ago piles of junk like that one were a dime a dozen. Man how times have changed, sure wish I had kept a few of the cars I owned over the years, I could retire now !!!!