As we continue to see prices for prewar automobiles plummet, insult is added to injury when yet another rare car emerges after decades in hiding. Cars that once would have had enthusiasts fighting for a chance at now garner little attention and even less money from the shrinking collector car market. This 1937 Chrysler Imperial convertible sedan for sale on Facebook Marketplace in Califton, New Jersey, is a typical example of this very depressing mess. Despite being a CCCA full classic and boasting one of the smoothest prewar powertrains under the hood, the asking price for this solid but somewhat needy Chrysler convertible is somewhat optimistic at $27,000 after seven weeks on the market and a trip to a major Chrysler show. Would you be willing to overlook market trends for the chance to put such a wonderful travelling car in your garage? Thanks again to T.J. for yet another intriguing find!
In 1937, Chrysler was emerging from the turbulent era of the Airflow. This radical car pushed the company back to more conventional designs. However, much of what was learned engineering-wise was transferred over to the new 1937 line. These were solid, all-metal cars with better motor mounts, a safer dashboard, and various other improvements that outclassed much of their competition. Chrysler also managed to garner some high-profile publicity for their new car along the way. To celebrate the 25th anniversary of the Indianapolis Motor Speedway, the famous race was paced by a silver and black Imperial convertible sedan like the one you see here.
Chrysler contracted with the Murray Body Corporation to produce these expensive bodies despite sales trends clearly showing the convertible sedan body style becoming less popular each model year. Chrysler, DeSoto, and Dodge all offered their versions in 1937 and 1938, while the leftover bodies were sent to Plymouth only for 1939. Chrysler offered both a straight-eight-powered Imperial model and a lower-line Royal version with an inline six under the hood. The Imperial’s powertrain put out 130 horsepower and a seemingly endless river of low-end torque. Perhaps the best part is that this silky smooth engine was mated to an electronic overdrive to allow for more speed or even less engine effort.
It is this particular engine and transmission combination that makes this car so wonderful. Most prewar cars struggle to maintain highway speeds due to being designed for a much more sedate world, far in our rearview mirror. Not so for this car. Highway speeds are possible as long as one pays heed to the suspension and braking limitations of the car. If you were looking for a classic car that is capable of handling multi-day tours and automotive events, along with getting you there and back without the services of a truck and trailer, this is the one.
According to the seller, this is one of only 325 Imperial convertible sedans built for that year. Lesser Chrysler, DeSoto, and Dodge variations were produced in nominally larger numbers but are still very rare as well. This one is said to wear the original paint and leather seats. They are obviously not in great condition and will need to be dealt with, along with crafting a replacement for the expansive convertible top.
The good news is that all of the impossible-to-find parts and pieces, like the center pillars, top bows, and sill plates, are all there. The body also seems to be free from rust, and the floorpans are shown to be in great shape as well. A bonus is that the car is also said to run, drive, and stop. We are told that the car was taken to the Chryslers at Carslisle event over the past weekend. The fact that the car is still listed today is a sign that the demand for such a car, even one as capable as this, is low.
This Chrysler is a reminder that we are fast approaching a point where cars like this are in the financial reach of people who never thought that they could afford such a classic. With that comes a certainty that a majority of the folding money thrown into it will never be recovered. It has to be for the love of the hobby and of the car itself. I can live with that, but it is a heck of a reminder that there are truly no free lunches in this hobby anymore.
What do you think is a fair price for this car? Could you justify the cost of restoration, knowing that the chances for a return on your investment are small? Please share your thoughts in the comments.
Nice writeup Jeff on a very interesting car. Certainly, the average classic car guy out there won’t pay 27K for this car and then pour another 75K into a restoration.
But there are enthusiasts out there who could drop 100K and bring this car to concours condition, without worrying about breaking even. I have to believe that guy is out there somewhere.
My wife and I like to travel, and we know that not one dime spent on travel gets refunded. With my old cars (oddballs that they are) at least I know that probably 50% of my investment is still sitting out there in the shop.
Great write up – thank you for that. It validates what many have stated (myself included) about the market for cars like this. The market is drying up quickly. I’d be surprised if this moved at a fraction of the cost.