Putting in a sealed bid for an '85 Chevy Silverado???

Hey, my Dad and I ran across an estate sale where there is a 1985 Chevy Silverado for sale. It is being done by sealed bid.

We went and looked at it this morning. It is a nice looking truck. It has just over 57k on it, but it has been garaged for 7 years. The family took away the keys when man was getting to a point where it was unsafe for him to drive.

Trying to figure out what a good price would be to put in. We could get lucky and get it cheap, OR pay too much and still get it.

You can't drive it (or make an attempt to start it). You get it AS-IS and that is how you bid on it.

A lawyer for the family will be opening the bids later this week to see who is the highest.

They also have a 1977 Cadillac El Dorado 2 door coupe with 77k on it.

My Dad really likes it. It is not in too bad of shape. Needs a good clean up and some plastic parts replaced at the taillights. It some funky junk in the radiator and some has leaked out over the past 7 years.

Any ideas??? We are looking to buy these and hopefull re-sell them to make some money.

I don't have any idea of how one would go about bidding on that. I see it as a junker and would bid on it that way, cheap. But that is me. Good Luck Bama.

Dave

The truck is not what you would call a junker, but you have to bid on it that way I guess.

Not knowing what MAY be wrong or not is the hard part.

For both vehicles I wouldn't go more than $2500 - $3000.

Hope you get the truck.
Know anybody that can haul it for you if it don't start??

Tail_Gunner said:

Hope you get the truck.
Know anybody that can haul it for you if it don't start??

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Yep, sure do

The truck is really nice. Of course the first thing we will go is drain all the fluids, gas, etc.

The inside looks like it's never been sat on. A very clean truck.

I have tried to locate on the web some place that can give me a book value for the truck, but no luck so far.

Any ideas?

BamaSixGun said:

I have tried to locate on the web some place that can give me a book value for the truck, but no luck so far.

Any ideas?

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Kelly Blue Book.

BamaSixGun said:

Any ideas?

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Since most sites including KBB don't go that far back in time your best option is to find similar '85 Silverados on Auto Trader or other sites like that with similar options and similar miles. Then as in real estate, you gather comparable vehicles to determine its value. Then you need to discount this amount because you have no idea what does not work on the truck. But since every bidder has this same handicap it comes down to who has the most guts.

hheynow said:

Since most sites including KBB don't go that far back in time your best option is to find similar '85 Silverados on Auto Trader or other sites like that with similar options and similar miles. Then as in real estate, you gather comparable vehicles to determine its value. Then you need to discount this amount because you have no idea what does not work on the truck. But since every bidder has this same handicap it comes down to who has the most guts.

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I tried Kelly, no luck.

I did go on to Auto Trader and got an idea of what some were going for.

Thanks for the help. I will let y'all know what happens.