The two other main important things to note when evaluating a car, says Osborne, are preservation and provenance. Hoffman has checked both of those boxes.
Hoffman reports that he put $50,000 into restoration after he bought it from the original owner, though his wife thinks that number is closer to $30,000. Regardless, Osborne is admiring. As he checks the panel fit, the interior, the instruments on the dashboard and whether the seats are done in the correct vinyl, he says everything looks superb.
But, he points out, the carpet on the transmission tunnel is actually different than the carpet on the mat. That small detail knocks the value down. And Osborne says that he’d prefer a less modern and more rounded-shoulder tire on this kind of car.
“I thought we had it all,” says Hoffman as a buzzer sounds and Leno clutches at his guest in frustration.
Still, Hoffman learns, he can make a whopping $59,000 in profit if he sells the car for its appraised value.
“It shows you what you can do with a little determination and not a ton of cash,” say Leno. “I like cars that average guys can work on in there garage, and that’s what this is.”
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