What would you pay for this '97 GMC truck?

[Cruisin'n5thgear]

Take the price points mentioned here with a grain of salt. GMT400 owners are trying to be the next classic truck market - I know personally because my father in law is hanging onto his nonrunning 1990 (same color, single cab short bed 2wd) as if it's going to become a 1966 Mustang.

There may be a point of pride to their negotiation bottom line. I would think it would take time before they'd take less than 5k for it.

 

[andrew_j]

Good for the widow to price as such and get the money. Someone felt it was worth it and it was priced well as it sold.

 

[addyguy]

People on this forum do not understand the current market, period.
A mostly clean and original truck without huge gaping holes in it is a $10k truck, doesn’t matter how old or the miles. The $6500 price was a bargain, and you hesitated and lost it bc you listened to out of touch people who said ‘it’s a $2-3k truck’.
In this market, you like it, you grab it and suck up the price!!
SMH

 

[Cruisin'n5thgear]

People on this forum do not understand the current market, period.
A mostly clean and original truck without huge gaping holes in it is a $10k truck, doesn’t matter how old or the miles. The $6500 price was a bargain, and you hesitated and lost it bc you listened to out of touch people who said ‘it’s a $2-3k truck’.
In this market, you like it, you grab it and suck up the price!!
SMH

100%. I am not current in the truck market, but I would imagine 5k is the floor for "runs and drives" prices in most parts of the country. Significantly north of that for "decent condition" and near mint body, as this example could have been ("rust" wasn't shown in the photos), even higher.

At this age, minor mechanical things WILL be wrong with any non restored truck. We are in that awkward phase where these trucks aren't old enough to have been frame-off restored yet, but are old enough that little issues will crop up that are unlikely to be fixed by a first or second owner.

 

[Orangepeel]

People on this forum do not understand the current market, period.
A mostly clean and original truck without huge gaping holes in it is a $10k truck, doesn’t matter how old or the miles. The $6500 price was a bargain, and you hesitated and lost it bc you listened to out of touch people who said ‘it’s a $2-3k truck’.
In this market, you like it, you grab it and suck up the price!!
SMH

I didn’t really listen per se, I did ask but I asked because I questioned it. With holes big enough for my fist on both lower cab corners non working A/C messed up mode door (actuator worked) but door didn’t move properly, cracked dash and some fluid leaks and a 305 v8 it didn’t seem like a very special truck nor did anything about it to me outweigh the cons.
A/C was likely a simple recharge, maybe it would need it every season but not a huge deal. The mode door situation could end up being a dash pull.
The buyer ended up being their aunt who loved the truck and had an emotional attachment, she did said they had another 5500 offer as well. So many a regular buyer would pay that much.
It’s been my experience that you cannot hardly give a 2wd truck away around me. I’ve sold a couple and was disappointed every time in how little they sell for. As much as I liked the truck overall I’m glad I didn’t offer more than $4500. Maybe I’d have given 5k but it would have been hard. It didn’t have low miles it wasn’t totally functional. It just wasn’t special or anything in any sort of way.

 

[drtyler]

I didn’t really listen per se, I did ask but I asked because I questioned it. With holes big enough for my fist on both lower cab corners non working A/C messed up mode door (actuator worked) but door didn’t move properly, cracked dash and some fluid leaks and a 305 v8 it didn’t seem like a very special truck nor did anything about it to me outweigh the cons.
A/C was likely a simple recharge, maybe it would need it every season but not a huge deal. The mode door situation could end up being a dash pull.
The buyer ended up being their aunt who loved the truck and had an emotional attachment, she did said they had another 5500 offer as well. So many a regular buyer would pay that much.
It’s been my experience that you cannot hardly give a 2wd truck away around me. I’ve sold a couple and was disappointed every time in how little they sell for. As much as I liked the truck overall I’m glad I didn’t offer more than $4500. Maybe I’d have given 5k but it would have been hard. It didn’t have low miles it wasn’t totally functional. It just wasn’t special or anything in any sort of way.

You did the right thing, and your skepticism was warranted. Its also doubtful they had another $5500 offer waiting.

 

[Orangepeel]

You did the right thing, and your skepticism was warranted. Its also doubtful they had another $5500 offer waiting.

Yeah who knows. It’ll be a good truck for their aunt. Fix the few things and it’ll be a good truck. But I could of had a 1,000 or more in repairs to get it “right” then numbers just didn’t make sense to me.

 

[redhat]

So it’s LS swapped? Would’ve been a 305 or 350 as OE motor.

 

[Hohn]

Rust means everything in an older vehicle. How was the rust on the brake pipes and fuel lines?

2WD just killed off 99 percent of potential buyers. I would be closer to the $3,000 USD figure than the $6,000 USD figure. Nobody wants a 2wd truck. Not that 4wd is actually needed by 99 percent of truck buyers, but people buy what they want, not what they need.

Good deals on well-maintained pickup trucks don't last 24 hours on Facebook marketplace. That truck has been listed for six days= not a good deal. Finally, why so few pictures from the seller? Another flag.

If you love the truck, $3k USD. 230k miles and 2wd. not many buyers for that. Note, I owned a 2WD F350 for almost 20 years. When I went to sell it, I knew my buyers pool was tiny because it was 2wd.

Yes, but for the more open minded who know that 4wd isn't a must-have, it's a tremendous opportunity.

 

[Cruisin'n5thgear]

I didn’t really listen per se, I did ask but I asked because I questioned it. With holes big enough for my fist on both lower cab corners non working A/C messed up mode door (actuator worked) but door didn’t move properly, cracked dash and some fluid leaks and a 305 v8 it didn’t seem like a very special truck nor did anything about it to me outweigh the cons.
A/C was likely a simple recharge, maybe it would need it every season but not a huge deal. The mode door situation could end up being a dash pull.
The buyer ended up being their aunt who loved the truck and had an emotional attachment, she did said they had another 5500 offer as well. So many a regular buyer would pay that much.
It’s been my experience that you cannot hardly give a 2wd truck away around me. I’ve sold a couple and was disappointed every time in how little they sell for. As much as I liked the truck overall I’m glad I didn’t offer more than $4500. Maybe I’d have given 5k but it would have been hard. It didn’t have low miles it wasn’t totally functional. It just wasn’t special or anything in any sort of way.

If the rust is that much of an issue, one either buys it for a runner and gets a few more years out of it, or goes all in on a big restoration. Probably better restoration candidates out there on one of the most high-volume trucks of its time.

 

[D60]

Yeah, $6500 for a 2wd GMT400 with 236k -- at least in CO -- no way. And not $5500 either.

If they got $5500, good for them. The buyer....well, it's their money.

I really don't see the appeal of the GMT400s. They're cumbersome and crude. Everything -- especially the interior and body -- is overly complex and generally difficult to work on. The myriad of brake systems, codes (JB6, JB7 etc) is a small nightmare. Quick take-up calipers -- good luck. Cruise control modules fail left and right. Odometer drives fail, too, so caveat emptor!!

The biggest thing they have going for them is that they were so popular here, so aftermarket support is huge. Had production been much less they'd be viewed as odd and crudely engineered.

Send a GMT400 to Japan and tell them to replace a window regulator. Be sure to get footage of the mechanics rolling around on the floor laughing at the procedure.

 

[GON]

P

Yes, but for the more open minded who know that 4wd isn't a must-have, it's a tremendous opportunity.

People on a macro basis buy vehicles and options on vehicles based on wants, not needs. A car salesman that tries to close a vehicle sale on what a customer needs goes hungry . That same car salesman that sells a customer on what they want eats steak and lobster every night.

I bought a new F350 regular cab, 2wd and drove it for 20 years. I was able to purchase the f350 new at a good price because nobody wanted a 2wd f350 and , nobody wanted a regular cab.

10 years into ownership i went to sell my one owner, like new F350. Flawless carfax. Could not find a buyer, everyone wanted at a minimum 4wd. I was able to sell the f350 at 20 years of ownership, because of the demand covid placed on full size trucks. 200k miles, outstanding condition, I think I sold the truck for $5k USD..if not for covid the truck would have fetched on it about $2k USD.

The buyer was a local sign shop, he needed a truck that could haul signs to customer locations. No individual wanted to buy my perfectly maintained one owner f350 that needed nothing, and has like new Michelin tires. Not a single individual wanted that truck.

 

[CKN]

You guys saying $3,000.00 grand or so must not get out much........

 

[clinebarger]

People on this forum do not understand the current market, period.
A mostly clean and original truck without huge gaping holes in it is a $10k truck, doesn’t matter how old or the miles. The $6500 price was a bargain, and you hesitated and lost it bc you listened to out of touch people who said ‘it’s a $2-3k truck’.
In this market, you like it, you grab it and suck up the price!!
SMH

The "market" varies regionally.....Not going to get $10K for a GMT400 if it has ANY rust in DFW, What you would consider clean is a rusted out POS to us.

A 305 2wd truck wouldn't come close to $10K!

 

[wtd]

The GMT400 trucks are pretty popular around here and some are going for pretty good prices but for the truck you described, I doubt it would bring $6,000.
I have two 98 4x4's and I have had so many people want to buy the 1-ton single cab, long bed truck. My 1/2-ton extended cab Z71 truck is a lot cleaner but I bought it new and have kept it up. The 1 ton was bought used. My 1-ton only has 125,000 miles on it and the 1/2-ton about 145,000.
With the cost of new ones and how unreliable they are, I'm keeping my older trucks.

 

[Cruisin'n5thgear]

Yeah, $6500 for a 2wd GMT400 with 236k -- at least in CO -- no way. And not $5500 either.

If they got $5500, good for them. The buyer....well, it's their money.

I really don't see the appeal of the GMT400s. They're cumbersome and crude. Everything -- especially the interior and body -- is overly complex and generally difficult to work on. The myriad of brake systems, codes (JB6, JB7 etc) is a small nightmare. Quick take-up calipers -- good luck. Cruise control modules fail left and right. Odometer drives fail, too, so caveat emptor!!

The biggest thing they have going for them is that they were so popular here, so aftermarket support is huge. Had production been much less they'd be viewed as odd and crudely engineered.

Send a GMT400 to Japan and tell them to replace a window regulator. Be sure to get footage of the mechanics rolling around on the floor laughing at the procedure.

Personally, I agree with your assessment of the GMT400 platform. I could restore my father in law's and probably have it for the taking, but yeah the platform doesn't appeal to me.

Nostalgia is a heck of a drug though, and many others don't share our position on the platform.

 

[crashz]

People on this forum do not understand the current market, period.
A mostly clean and original truck without huge gaping holes in it is a $10k truck, doesn’t matter how old or the miles. The $6500 price was a bargain, and you hesitated and lost it bc you listened to out of touch people who said ‘it’s a $2-3k truck’.
In this market, you like it, you grab it and suck up the price!!
SMH

I respectfully disagree. The pricing is wildly affected by region and desirability. An aging GMT400 2wd with holes in the cab corners around here would not fetch much. Even running and driving well, it won't immediately pass inspection with body holes. In the Northeast, the state inspections are rigorous, nobody wants a 2wd truck, and it would be perceived as long-in-the-tooth by New Englander standards. We don't see trucks that survive that long. So while its not exactly worthless, its not worth $6500 here.

 

[supton]

I respectfully disagree. The pricing is wildly affected by region and desirability. An aging GMT400 2wd with holes in the cab corners around here would not fetch much. Even running and driving well, it won't immediately pass inspection with body holes. In the Northeast, the state inspections are rigorous, nobody wants a 2wd truck, and it would be perceived as long-in-the-tooth by New Englander standards. We don't see trucks that survive that long. So while its not exactly worthless, its not worth $6500 here.

Have to see what happens after Jan 31st when state inspections disappear for NH. Even more, after ODBII checks go away, at the moment that's slated to end in Sept after that. Could change things a bit (although in general, people hate vehicles that have any rust holes).

That will increase the value of some vehicles that would not pass inspection before, but it's not going to do much than raise up the low end a bit, I think. And 2wd anything is already a hard sell here.

 

[meep]

If you ignore the age, it was a running vehicle without AC and a small back seat. Assuming the driveline was pristine, I’m not surprised it sold for 5.5.

 

[NormanBuntz]

You did ok not being the high bidder on that truck. You didn't mention anything that was significant about that particular year, make, and model of truck to you, so the purchase is an unemotional business transaction.

It's funny, I tried selling my 2002 F350 4x4 crew cab Lariat with 200k miles in excellent running condition, like new interior, very clean body, like new Michelin tires, new oem.headelights, I could go on and on, for $9500 and could not give the truck away. In my case, I kept the truck, but it told me what the market valued my truck at, and it wasn't $9500.

Sometimes our older vehicles, especially trucks, are worth more to keep than they are to sell.