Not only does the Old Cars staff get questions about old car values on the phone all day, we sometimes get them from our co-workers. In our Iola, Wis., office, there are about 250 employees working on books and magazines, and not just in the car hobby. One of those co-workers, who I see every Tuesday when we send Old Cars Weekly to the printer, came up with a question about the value of her fiancée’s “old car.”

Apparently, my coworker’s fiancée inherited an old car from his cousin some years back and had been offered money for this car, even though it wasn’t for sale. I was expecting it to be a used car or, at best, a 1970s Chevelle or a 1957 Chevrolet. I was shocked when she told me it was a “Dodge Coronet with a 436.” Well, or course, my jaw dropped because I knew she probably meant it was a 426, which would make it a Hemi!

Another co-worker who’s a fellow gear head had seen pictures and confirmed the car was a Coronet R/T with a Hemi, but he had seen the pictures so long ago he could not remember if it was a 1967 or ’68. The car was portrayed as a good original with 55,000 miles, but I did not see it in person.

Apparently, the fiancée had been offered $80,000 for the car, and she wanted to know if it was worth selling. I, of course, told her not to sell it, but we looked at some prices as a point of comparison. Here’s what I found for 1967 and 1968 Hemi Dodges:

1967 Hemi Coronet R/T selling prices:
1. $200,000 - Four-speed car, Old Cars Price Guide No. 1 condition, Feb. 2007 RM Auctions sale
2. $75,000 – Automatic car, Old Cars Price Guide No. 2 condition, Jan. 2007 Barrett-Jackson sale
3. $87,000 – Four-speed car, Old Cars Price Guide No. 2 condition, modified, Fall Kruse 2006 sale
4. $85,000 - Automatic car, Old Cars Price Guide No. 2 condition, Fall Kruse 2005 sale.

1968 Dodge Hemi cars
Note: Coronet R/T’s with Hemi engines were few and far between in the database. With the hot new Charger, it’s my assumption most Hemi buyers went for the Charger, rather than the Coronet R/T. Since selling prices were rare, I threw in a few Coronet Super Bee and Dodge Charger R/T prices.

1.    $102,500 – Automatic Super Bee, Old Cars Price Guide No. 1 condition, Mecum High-Performance auction Oct 2006
2.    $40,250, four-speed Coronet R/T hardtop, Old Cars Price Guide No. 2 condition, Mecum Kansas City 2002 sale
3.    $117,500 – Automatic Charger R/T, Old Cars Price Guide No. 2 condition, Barrett-Jackson 2007 sale.

Old Cars Price Guide does not offer values for Hemi cars at the moment and labels them as “inestimable.” And you can clearly see why: values are all over the map, and comparing cars becomes almost impossible. It does appear that people are willing to spend the extra money on four-speed cars, which is not surprising.

Do I think $80,000 is a good offer for the Hemi Coronet R/T owned by my co-worker’s fiancée? If it’s a 1967, that sounds like a fair price. If it’s a 1968, I think it’s a little low considering most people consider 1968 Coronets more desirable than 1967 models. I hope my coworker and her fiancée hang on to their prize and enjoy it for a few years before selling it.

Those of you who read Old Cars Weekly and this blog probably remember the one-of-tree 1956 Imperial convertible rusting away in my coworker’s backyard. Upon learning there is a hidden Hemi car also parked in my coworker’s garage, I’m beginning to wonder what other treasures are tucked among the trees of the isolated Iola community! Hopefully, we'll get some pictures of the car that I can share in the future.

As promised, here are some 1956 Cadillac price observations:


1956 Cadillacs:
Current OCPG values:
Series 62 two-door hdtp: #1 41,000; #2 28,700; #3 18,450; #4 8,200
Series 62 Coupe deVille: #1 42,000; #2 29,400; #3 18,900; #4 8,400
Eldorado Seville coupe:  #1 47,000; #2 32,900; #3 21,500; #4 9,400
Series 62 convertible:      #1 87,500; #2 61,250; #3 39,380; #4 17,500
Eldorado convertible:      #1 118,500; #2 82,950; #3 53,330; #4 23,700
Series 62 Sedan deVille   #1 35,000; #2 24,500; #3 15,750; #4 7,000

It takes a novice Cadillac fan to tell the difference between a 1955 and 1956 Cadillac. It takes an expert to tell that those differences are more than subtle. Although 1955 and 1956 Cadillacs are very similar in appearance, only the roofs and doors are interchangeable. The inner body structures are nearly identical, if not completely identical, but the outer metal is vastly different. From 1955 to 1956, decklids, front fenders and rear quarter panels, as well as the bumpers, are completely different (I haven't been able to confirm whether or not hoods are different, but I'm fairly certain they are, too). Cadillac collectors who choose one model year over the other do so more out of personal preference than any other reason. The sheet metal changes to 1956 Cadillac intend to make it look lower and longer. Some Cadillac collectors prefer this look to that of 1955 Cadillacs, while 1955 Cadillac fans will tell you these changes make the 1956 look heavier than the 1955 models.
Under the hood, 1956 saw an increased bore and stroke to its overhead-valve V-8, and displacement went from 331 cubic inches to 365 cubic inches. A revised Hydra-Matic transmission was also implemented in 1956. Some 1956 Cadillacs experienced lifter problems with the 365-cid V-8, as well as problems with the revised-for-1956 Hydra-Matic transmission. Of course, many Cadillac owners experienced neither of these problems, though the cars gained a reputation as being mechanically troublesome, whether they deserve it or not.
As collector vehicles, these problems, whether relevant or not, have little reflection on the values and preference of 1955 to 1956. So, that leaves collectors to selecting a 1955 or 1956 Cadillac to their personal taste. Regardless, 1956 Cadillacs were showing higher prices in the past, but it does not appear to be the case any longer.
Data for 1956 Cadillac Series 62 coupes includes only one sale for a No. 3 car in 2007 at $21,000. Three sales in 2007 for No. 2 Coupe deVilles showed values of $22,000, $20,700 and $20,000 for an average of $20,900. That seems like a steal. Two No. 3 1956 Cadillac Coupe deVilles sold for $15,000 and $26,000 last year, the higher-priced car selling at a televised Arizona auction in January. Given the publicity surrounding the $26,000, No. 3 Coupe deVille sale compared to the sale of the three No. 2 Coupe deVilles and the remaining No. 3 Coupe deVille, the televised sale is not an accurate reflection of the marketplace.
When it comes to drop-top 1956 Cadillacs, the status quos appear to have been maintained, unlike in 1955. Eldorado convertibles retain their price advantage over Series 62 convertibles. Examples include No. 2 Eldorados selling for $76,000, $79,000 and $101,000 are recorded for an average of $85,000. No. 2 Series 62 convertibles are limited to two cars at $50,000. A No. 1 Series 62 sold for $72,500, and a No. 2 Series 62 convertible sold for $52,000. This is right on target for Cadillac value hierarchy, but much lower than current Old Cars Price Guide values.
Sedan deVille prices also appear to be a little down. While Old Cars Price Guide values show No. 3 cars to be in the $15,750 range, actual sales show prices in the $10-12,000 range.

Conclusion:
Prices for 1956 Coupe deVilles are down slightly, and have been passed by comparable 1955 Cadillac prices. Unfortunately, the lack of data on Series 62 coupes does not allow us to compare the trend of seeing higher prices of Series 62s to Coupe deVilles as can be seen in 1955. Convertible Series 62 and Sedan deVille prices also appear to be down, while 1956 Eldorado prices seem to be on target with OCPG, if not a bit higher.

Ain't this a great old photo? I'll take the green Series 62 coupe, and the red Coupe deVille, and the pink Series 62 convertible, and the Biarritz. Oh, and that green Seville would like nice in the garage, too, as would that black Series 75 sedan (if there's room). Can't leave that Series 62 sedan by itself, either...