Sometimes the future doesn’t turn out to be as scary as we think it will be. Convertibles had become an endangered species by 1976, and everyone thought the end was near. Cadillac announced that the 1976 Eldorado convertible was going to mark the end, and investors pounced. If you are looking for an ultra-low mileage example of one of these supposed “last of the breed” drop tops, then take a gander at this 1976 Cadillac Eldorado convertible for sale on eBay in Andover, New Jersey. Is the buy it now price of $26,000 too much to ask for a vehicle of this size, fame, and collectability?
The future looked quite grim for convertibles at the end of 1975. Automakers were abandoning the convertible market in fear that the Feds would make the body style illegal in the interests of safety. Across the country, enterprising investors gathered up and stored away new convertibles like this last of the line Eldorado. The idea was that these cars would increase tremendously in value as time progressed, sort of like a four wheeled certificate of deposit.
Nearly all of the owners that took part in this made sure that their cars were stored properly and never used. The marketing departments across General Motors seemed to be very adept at marketing these cars to the public. Cars such as various Indy 500 pace cars, last year convertibles from every division, and multitudes of collectible Corvettes of every variety found themselves entombed in garages across America, never to be used for any reason.
Cadillac managed to produce an amazing 14,000 Eldorado convertibles in 1976. The last 200 were labeled as Bicentennial Cadillacs and were all identical in being all white inside and out with red and blue pinstripes. GM actually kept the 200th one, which was supposed to be the last Cadillac convertible ever made by the factory. When Cadillac again offered an Eldorado convertible in 1984, a number of people who purchased a 1976 convertible as an investment tried to sue GM in a class action lawsuit that ultimately floundered.
The car you see in these pictures is one of those stored away Eldorados that we were supposed to never see in production again. Only 1,739 miles have passed under those front wheel driven wheels, which the owner forgot to place the hubcaps on for these pictures. The seller tells us that it runs and stops good and has a clean title. Curiously, we are also told that this garaged car received a new paint job five years ago. No explanation why is given in the ad.
So, is it worth the asking price? It seems like a very nice car, but $26,000 may be a bit steep considering that this low mileage beauty went through a repaint. While the mileage is obviously low, you have to think a repaint detracts from the value.
Do you think this Cadillac is worth the asking price? Let us know what you think in the comments and be sure to give us your estimation of what this car is worth in today’s market.
“IF” This `76 was stored and covered properly all it’s life, it should not have needed a new paintjob. And now, whose to say this paint work is as good as the factory’s was to begin with?!
I wouldn’t bid this Eldo any higher than the $26K it’s at to be honest. And even then, I’d have to scrutinize the &$%# out of it to make sure it is indeed a 1,739 mile original!! Caveat Emptor!
How do you forget to put the hub caps on for the photos? Thats like forgetting to put your pants on before you leave the house.
Close the door too!
No Hub Caps???? $26,000???? Something is
Missing here.
Jeff
Yep, 100,000 extra miles on the odometer!
The auction states that the odometer reads 1739 miles, not that it has 1739 miles . They also state there is no documentation of how many miles it has
1739 miles? That’ll be the day!
Driver seat is the give away to the car having rolled the odometer over. He might get in the twenties for it but seriously do not think it is worth more then something in the teens.
Luxury cruiser after the a/c work is done. Trying to think of any new car that would be this comfortable and have the wow factor also. None come to mind.
This appears to be a well-kept vehicle, however it’s highly unlikely to be the correct mileage, and I suspect the new buyer will not be happy on closer inspection if he brings an expert to check the car over.
The engine compartment alone screams much, much higher mileage, perhaps to the point the odometer has indeed rolled over. For example, just observing the various dings and dents in the A/C condenser in front of the Radiator support is indicative of mileage around 100k.
The driver’s seat bottom shows wear commensurate with 50,000 and more miles, assuming it was well treated to keep the leather soft, and it could easily be over 100,000 miles.
I’m a court recognized expert in vintage vehicles, and a former owner of a restoration facility that has done AACA Junior restorations. This in in my opinion, not a 1,739 mile car.
If one is planning a repaint, why on earth in one of the ugliest colors possible for ANY luxury auto? This is a Kia Soul or Scion XD color.
A color change would’ve substantially reduce the car’s value, and what would you suggest with the gold interior? Resale Red?
DEFINITELY NOT! Good point.
I was excited until I saw the front seat and engine. This baby has rolled the odometer.
1,700 miles?
You’ve got a better chance of seeing Paul Lynde JUNIOR….
LOL. I’m old enough to remember him and
why that’s funny!