Posted by Brian in Oregon on May 28, 2000 at 01:52:32:
In Reply to: What would you pay for a 1953 M-37? posted by Jeff on May 28, 2000 at 01:10:51:
Start at $3500. This assumes a running truck that stops.
Add more if the canvas is fresh, all the bows are there, nice paint/markings, good tires, good cab seats, good glass. Go up to around $6500. Perhaps more if it is really a museum piece.
Subtract if brakes need overhaul, body damage, missing parts, rust, bad tires, heavy oil slicks, missing troops seats/cargo bed back hardware. There is no limit to the bottom end. $500 to $1500 is typical for something needing a lot of work.
In the case of modifications, you're on your own. A nicely done V-8 conversion that leaves the truck looking original on the outside can be a valuable asset for someone wanting a good work truck. For a serious collector, it is a liability. There is no escaping the fact that the more modified an M37 is, the more difficult it is to sell, particularly if the owner is trying to recoup his investment.
Add $750 to $1000 for a winch if it is in perfect working order. Add $500 if it needs work.
The above is my personal opinion, and is not meant to set a standard or be an authoritative figure. Some will agree with me, others won't. I arrived at the figure merely by looking at what prices were being asked for various condition trucks.