Value of '68 Bronco? Buying info

[Squishymonster]

My friend and I found a '68 Bronco for sale that was originally from Kentucky and then brought up north into salt country some years ago. My friend is going to buy it, and is curious to know what it's worth in a general sense.

It's been stored in a garage and not used too much since it was brought up north. It currently has about 30,000 miles. It has an I6 engine which supposedly tops out at about 60 MPH. The asking price is between $5500 and $6000.

I scout for Broncos and Willys CJs quite a bit so I've seen my fair share of these beasts completely destroyed by rust. This one looks to me to be in amazing shape and very well maintained. Even the interior is as close to mint as one could expect.

I think this truck has been repainted. It is currently a discusting baby blue color but it is applied well. There are some spots of very slight surface rust starting up in some spots, so it will need to be repainted very soon.

My friend wants a bronco to modify, but he wants a good starting point - not something where everything needs to be overhauled in order to make it useable. He also realizes that this is a rare find in our area and is not too sure that he should ruin a classic in this good of shape. Therefore he's also considering the option of reselling it for a profit. He is curious to know what this vehicle might be worth (again, he's paying 5500 - 6000). Of course I realize it's hard to say without seeing it, but can anyone give a general idea of what someone would buy this for?

I also have some specific questions about undercoating. This vehicle has been undercoated, not by the factory though. The entire underside is covered. It's impossible to tell what kind of rust might exist underneath. Will the undercoating alone negatively affect the value of this vehicle as a classic?

Also, will an undercoating cause rust to develop if moisture builds up between the metal and the undercoating?

Thanks for your time

 

[Bronco Sport]

It sounds a bit high for a I6. Do you have any pictures? Up here in the North West we see a few more I guess that's why the prices are a bit lower. For that price I would think It should be in pretty good shape with very little rust.
Undercoating can hide rust and trap it as well. You could use a flat head srew driver to scrap a few small spots, if the ower will let you. I'd check any of the small areas like under the floor pans and the bottom of the bed near the tail gate.

Let us know what you find. Good luck!

Ron

 

[IowaMike]

I paid $4200 for my '68 that was very similar to what you have described except mine has a 289 and 50K+ miles at the time of purchase. That disgusting light blue could be similar to the factory Skyview Blue (that's what it's called on the window sticker that was with mine). Mine was repainted but now has some rust bleed thru along the rear quarter seams and drivers side rocker seams. Sounds like you might be on the high side of a ballpark figure for a purchase price IMO.