It is worth exactly what you and the current owner agree upon. In my opinion if you are only worried about what someone else thinks it is worth you are not buying it for the right reason. The right reason IMHO is that you want it and can afford the price!

Does IMHO mean "In my honest opinion." I'm not into texting shorthand.
Thanks,
Charlie

Another thought. Looking at the question form a practical standpoint the true market value of the car it is not always the case of it being what the seller and the buyer agree on. One asking too little and the other paying too little. On the other one asking too much and the other paying too much.

One makes a good buy and the other makes a serious mistake. Or one makes a bad buy and the other cleans up. After the dust settles, neither is a happly situation for someone. Seldom is the market value of a car met without advertising, marketing and research, as appropriate,to atain the best situation for both buyer and seller.

If the deal is just between two people, one of them is likely to get screwed. Hence 28991's inquiry, given the limited description, as to what informed members would be a fair price.

Just my thoughts,
Best,
Charlie

BTW: The "pickers" were offered a pretty bad 48 Chevrolet convertible for $1,500. They walked away. Nonetheless, given the info in the instant case, I would think somewhere in the 15-20K range. I could be way off.

BTW2: I know y-all gonna jump on me, so go right ahead.

The 2009 NADA book gives a price for a Fleetmaster 2 door convertible. LOW- $16,600 AVG- $30,600 HIGH- $44,100.

Since condition is so critical in value a better idea of what it is like will help determine a reasonable value.

From the 2011 Edition of "Collector Car Price Guide" put out by Krause Publications (I just got it) - a reasonably accurate starting pont.

I'm guessing from the original post that the car does not presently run, but is reasonably complete and has reasonably original components; with no major damage nor significant missing parts.

They define their #1 to #6 conditions as follows:

#1 and #2 obviously are better than this car. Then -

"#3 VERY GOOD: Completely operable original or "older restoration" showing wear. Also a good amatuer restoration, all presentable inside and out. etc, etc" (sounds somewhat better than the car in question).

"#4 GOOD: a driveable vehicle needing no or only minor work to be functional. Also, a deteriorated restoration or a very poor amatuer restoration. All components may need restoration to be "excellent," but the vehicle is mostly usable "as is."

"#5 RESTORABLE: Needs complete restoration of body, chassis and interior. May or may not be running, but isn't weathered, wrecked or stripped to the point of only being useful for parts."

and lastly -

#6 PARTS VEHICLE (the car in question is clearly better than this).

From the limited description, it sounds like this car is probably closest to a #4.

Then, looking up the price values they list for a 1948 Fleetmaster convertible, we find:

#3: $17,550

#4: $7,800

#5: $4,680

So, there is a good "official" starting point for your thinking.

I have been assisting another VCCA member in the restoration of a 1948 convertible for several years now. 1948 is a great year with the hydraulic convertible top, the ability to run 16 or 15" tires ( since both were available in 1948 ), the option to put 1950-1954 3:55 gears in the differential or run the original 4:11 gears, etc. The car also has many mechanical parts that are. The rear fenders are the same for all 1941-1948 Chevys and other good points.
The value is somewhat determined with what you want to do with the car.
Do you want to restore it back to showroom condition? If so, the grille can be expensive to re-chrome. Do you want the original interior and the original style convertible top material in it? Hampton Coach is your only popular correct choice for restoing it back to the original materials. If you go that route, you need to figure on about $6,000. Then you need to find someone to put the convertible top on the car. Am I trying to scare you, absolutely positively not, I just want you to know some of the costs. Once restored, 1948 convertibles done correctly can be worth quite a bit of money.
If you just want to fix it up a little and drive and enjoy the car, then it is an excellent choice to buy. I have worked on 1948 Chevys since the late 1960's.

dtm