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eBay Find of the Day: Is This ’64 GTO Convertible Too Far Gone?

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The muscle car era shifted into high gear in 1964 when a new ‘option’ appeared on Pontiac’s order sheets for the mid-size Tempest LeMans. The divisional strategy managed to bypass a corporate restriction on engine offerings and began an almost decade-long revolution in the domestic auto industry.

[2]Highly sought after, the first year GTO-optioned Tempests usually sell in the range of $25,000 to $75,000, although one did sell at auction in 2007 for just under $155K, after a particularly meticulous, 2-year, frame off restoration. According to estimates, just 6644 convertibles were built with the GTO option in 1964. Total GTO production that year was 32,450.

The current example [3] has seen better days. It is a “project car” in the truest sense of the expression. Photos do show the 389cui “Tri-Power” V8 under the hood and the seller lists additional equipment as including automatic transmission, tilt steering wheel, power steering, power brakes, power windows and Saf-T-Track rear end.

Checking over the photos, you’ll find that the car has a long way to go before it is roadworthy, never mind presentable. The owner has apparently lost interest in the car as a restoration project, but it is evident that some work has been completed. Regardless, there is a long way to go.

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The auction [3] includes a non-GTO Tempest convertible as a donor car, though it hardly appears in better shape than the other. With five days remaining in the auction, current bids have topped out at $6100, but are not over the seller’s reserve price.

So, all this opens an interesting discussion. How far would you go in taking on a project like this? I don’t mean in distance, since I’ve read some stories of folks that have trailered finds almost across the country to get them home. What I mean is, would you take on this car as a project, even at the current bid?

Bearing in mind the historical significance of the car, it should not be allowed to disappear. It appears that the value of a reasonably restored car is sufficient to pay back the personal effort needed, though you aren’t likely to get rich from it. With that, it really comes down to a labor of love. Without getting crazy, this looks like a two year project on a part time basis.

As much as I’d love to be cruising around in a ’64 GTO convertible, I’m not sure that I would pick up this deal. What do you think? Would you take it on?