1953 M37 value?

[gabaddog]

I came across a 1953 M37 that has been sitting for 10 years or so, but is in excellent shape and supposedly has 8,000 miles on it! I am trying to figure out a value on it. Still has all the mil-spec equipment, PTO winch, hard top and troop seats. Any help valuing it would be appreciated.

 

[Karl kostman]

gabaddog you ask a very good question and as is always the case there are MANY variables the first one is what kind of shape is it in? How much rust, and how bad is that rust? What kind of shape is the interior in, the mileage on it IF and that is a big IF in fact it really only has 8K (dont count on it) then comes does it drive under its own power? then we have the Transmission, diffs and transfer case they are all things that determine value. I will go out on a limb a little and say that everything is functional and in REASONABLE condition on all the items above I am estimating a value (of what I would pay) or between 4500 to 5500 dollars. Its all GOT to be in REASONABLE condition for this to happen, Great truck absolutely but as alwasy be careful and buyer very AWARE!
Good luck and pics always help
KK

 

[hndrsonj]

Well, we paid $2,450 for our rust free M37B1. It also has the hard top, winch, heater, hwy gears and detroit locker in the back. The troop seats weren't installed though (and they are a bear to find).

 

[Karl kostman]

Congrats on the purchase that sounds to me like you did really well and they really are a great truck, that was my very first MV and I still miss it today! Congrats on what does sound like a really great buy!
KK

 

[gabaddog]

It sat for a long time on a Ga military base and was auctioned off. The base commander used it as his personal vehicle. It has front and rear heaters. There is almost no rust, the windows and doors function smoothly, haven't started it yet (need to clean out carb/tank), seat torn (critters). There is also a 5" or so clock in the dash which looks old. I am getting all the original paperwork and extra stuff with it including snow/mud chains.

 

[WarrenD]

Add to the list above of potential issues, wiring harness/electrical issues, brake cylinders/lines, axle seals, etc. Low mileage isn't always a good thing, and you say is has some rust, where? Rust on the cowl can be a deal-killer as you have to either patch it or find a donor vehicle and a welder. Restoration can get expensive fast, so I'd suggest that you negoiate the lowest price you can get it for. I've seen good motor pool grade ones go for $7K, fresher restorations for $8-9K and up, w/w adds about $1k if it works and isn't worn out. Have seen a recent ad for a decent one at $6500. Without pics, I'd guess $2-4K, but ultimately, the value is set between the buyer and seller.

BTW, you should be checking the engine out before attempting to start it. This means taking out the plugs and putting a bar on the crank and seeing if it will turn. A little oil down the plug holes first will help. Otherwise, you might kill an otherwise good starter if the engine is seized.

 

[dodgedougak]

My wife loves to lecture me that it would have been cheaper to pay $10,000 for an overhauled, painted, good running, all the bugs out, M37 than to have paid $2,000 for one and then overhauled everything. But, look at all the fun I would have missed out on!
Seriously, depends on how you are going to use it (daily driver, long trips, parade rig, etc.) and if you can live with a few leaks, a little peeling paint, etc. Once in a while, a screaming deal comes along, but I would go with the following guidelines:
Parts truck- a few hundred dollars
Bad runner with rust - maybe up to $2000
Good runner, some issues but not much rust, up to $4000
Really nice, but not a show truck, up to maybe $8000
Show truck, all overhauled - saw one on Barret-Jackson go for over $50,000
These are just my ideas. Where I am, good paint will be over $5000. A full set of seals for axles, diffs, trans, xfer, winch, etc. will be a grand plus whaterver teardown costs are. Figure tires, brakes, rust repair, wiring, etc, etc. Then decide how nice you want to make it. And have a ball driving it and working on it.

 

[Wolf.Dose]

You can by here in Europe an unrestored M37 for some 1900 Euro. Amount of work unknown, however they say the trucks are ready to run with little work (what so ever little work might mean). Restored ones go for 5000 Euro to 10000 Euro, if on sale. Top restauration may realise a higher price ,ut very hard to find. But so far I never heard something over 20000 Euro for a realy good M37.
For the standard MV prices the price is ok, as far as I can judge it. M715 are much more expensive, if you get one at all. Restored ready to run with inspection to be road legal from 14500 Euro. This is NOT a top restauration!
Wolf

 

[MWMULES]

I used search and found this old thread to add to. Went to a farm auction yesterday waited over 4 hours in +17 weather to maybe bid on this M37 I didn't it went for $1150. Owner stated it had not been moved for over 11 years till they aired up tires and towed it to it's place in the auction line up. Running gear was all original but was missing air cleaner and seats. There was also a M200 but at $250 seemed too high also as the temp was dropping and everything need to be moved out yesterday or today, temp is now +2 and snowing at noon.

 

[Tin Medic]

Looks fairly solid and complete, good deal for 1100.00.

 

[Storm 51]

It really depends on where you are. The market is always local, with local being a flexible term. What is the market clearing price in your area?

You also need to consider what skills you bring to ownership and what social and professional connections you have to accomplish your goals for the truck. If you own a body shop, rust and body damage is probably not very important; you can fix it. If you have lots of friends who have the same type of truck, parts might be easier to acquire. Maybe your uncle or BIL owns a machine shop. All of these considerations will have an effect on your purchasing decisions.

So, the answer to your question is: "It all depends...."

I've had my truck (see the avatar) for 34 years and have restored it twice. I have lots of accessories for it and a restored trailer. After 34 years I've got way more $$$ into it than I could ever hope to get out of it, so it now effectively owns me. You really need to internalize that before you buy one.

O.D. disease is essentially a financial cancer......

Storm 51

 

[wdbtchr]

May be financial cancer but what a way to go. I absolutely love the M37.

 

[Storm 51]

Oh, M-37's / M-42's are GREAT! I love 'em. They're lots and lots of fun (especially out in the woods). My M-37 / M-42 is the only pickup truck I've ever owned; and I'm 62.

I just meant to point out that they will be a long term economic drain on your resources; but then, a lot things are in life....

Storm 51

 

[combat32]

I agree with Storm prices seem to be more location dependent than anything, I bought my first in Texas back in 95 or 96 and paid 300, that was a smokin deal then, of course it needed about 1500 added to it just to get her up and running.Since then I have bought 3 more and never paid over 1500, yet I have friends in other states who have paid more for less truck, now my policy is to pay no more than scrap value for non runners espically if they are missing a lot of parts, the only exception would be if it had a complete winch. The last truck I bought had a tailgate, it kind of sealed the deal on it for me as they are gettin hard to find. Seems to be quite a few on craigslist in the midwest, couple in Arkansas right now, but I'm just not in the market now.

 

[buge]

m37 value

Seems like the ones that I have ran across here in NC, in any shape, are running around $ 3000.00. Some years back, a local fire dept. had one, that they sold for $ 1000.00, that was in good shape. But seems like the one's from the fire dept.'s are on a lend program from the Gov., and have to be turned back in for auction.

 

[3dAngus]

This thread is three years old

 

[poppop]

Its not now Dell.

 

[3dAngus]

So true...
I think this one goes back to before you and I even purchased ours. It's probably long gone by now. Would be nice to see it today though.

 

[Storm 51]

Lots of old threads in Steel Soldiers. Lots of old vehicles; and lots of old people. Sometimes old threads get resurrected because there is still interest in them.

You get to pick and choose what threads you respond to.

Storm 51

 

[buge]

Grin, sorry about that folks, I just had a "Dah-ha" moment on the age of these post. Guess I just had to put in my 2 cents worth.