Questions re 2R10 49er Stude Truck

[suzyqz]

Hi, Studebaker folks. I'm new here, so I hope I'm in the right category? I just recently had a family 49Studebaker flatbed up on BaT- I'm sure some of you saw it. My question is about current market. BaT set a reserve of 12, 500 on it & my Ins company insures it for 10,000. These folks set these prices based on stats & pie charts etc. BUT the auction was slow & not much interest- stunned me & BaT. But there it is. She gets tons of attention & fam have been offered this much in years past, they just weren't going to sell it. I have to, I don't drive it, sadly. Not a mechanic either.
Question is- or just input: what IS a fair price- for buyer & me, if I do another auction, or local advertising? Is that even appropriate to ask? Not sure. It's in good condition for 75 yrs old, but original- no V8 or modified steering/brakes. Needs TLC, true too. But rarity + it runs? I'm at a loss.
I tried to upload pix here, but they want a Url-? won't let me. But it's still on BaT website; enter Studebaker truck, she comes up; bright yellow stake bed. Tons of pix there. Thanx & yes I've researched as many 2R's as i could find- everything from total shells/oxidized- not running to rebuilt hot-rod types. Mine just doesn't fit into most catagories? It' just a old working folks-orchard-lumberyard-vineyard/parade truck as is. Thanx all. Any input appreciated
Not sure anyone can even help here- don't worry about hurting my feelings. There must be a core value to a 49er.

[jscherrer]

To my inexperienced eyes, BaT is an unpredictable place for Studebaker trucks. For instance, look at this range of prices for M16s and try to explain the price variance.

https://bringatrailer.com/search/?s=Studebaker+M16

And for the thread's benefit, I'll link to what I presume is your truck.

https://bringatrailer.com/listing/1949-studebaker-2r10-truck/

[suzyqz]

Well thanks for responding & intel. I had seen one of those trucks, flatbed. There is major price flux there & all except the multi-colored one- look to be in similar shape, color-neat flat beds. All real cool to me. But they all had more comments too than my Stude. WHERE are the 2R10 49er lovers then? And where should I post it? This is when you miss Dad; he knew how to buy, sell, deal with classics, specially Studebakers. Morris Minor's, close second...

[Guido]

As someone who has owned over 25 Studebaker trucks these are my observations.

A) There is limited love for flatbeds and “big” trucks.
B) it is a 2R10 which means it has the 170 cid Champion engine. Without overdrive you are limited to 45 mph and back roads.
C) It would sell easier with a pickup bed.
D) with less than a 2% market share when new there is a limited fan base for Studebaker products.

[suzyqz]

Thanx Guido. 25!? Your worse than my family was!! Yup, that's the flathead 6 . Hmm, I like flatbeds, but then I grew up with them, so 2nd nature. I'm surprised tho- thought Studebaker's were luv'd by "truck lover's". We were told growing up; Studebaker was synonymous with the word "truck" The cars are all the rage now it seems.
All that said, plenty up here inquire about it-I can run ad local? was trying to avoid that: it's a man magnet - which IS fun- classic car/truck folks are fun, BUT the arranging private apt/sales-oh boy... hence the BaT auction. Was thinking about a diff auction- but if shipping is that much & it's considered a project, I need to re-boot. I still dunno what $ to ask. I have studied other auctions/sales- late 40's- early 50's trucks- all conditions; including gutted, oxidized shells that don't run. Bidding varies- is all over the place! ;( Thnx for intel from ya'll. I wish I'd come here before BaT, but didn't know of forum til auction was ON. Grrr

[Skip Lackie]

Guido has summarized some of the reasons for the lack of interest in your truck. 2R models were the most popular trucks Studebaker ever made, so they are not particularly rare. (And rare should not be confused with valuable anyway.) Your rust-free Calif/Oregon truck would be worth a good deal more if it were in the rust-belt East coast. But transport would be $1-2K, so that limits interest out of your area.

One other thought. Your insurance company might insure it for $10K, but that's because that's what it would cost to replace it if it were totaled. That doesn't necessarily mean that you could sell it for that. Good luck.

[suzyqz]

Hi Skip. Rarity I was referring to was a 2R5 -10 flatbeds. I couldn't even research any except their original, cool magazine ads. I imagine they took a beating, wood got weatherized & got converted? Must be why my Dad converted 2- 2R10's in 50 years of driving them- he couldn't find a 49 flatbed. He hauled big stuff, so a flatbed was practical for him.Yes box on back would be better for buyers I guess, but wasn't practical for him. And it's awesome; but country/ "old school", not for current market I guess? Also, they made this popular series for such a short period- what, 4 years?- compared to other truck co's? I have seen some on auction sites, yes- but not nearly like others co's . A few at Historical Truck shows- but never at classic shows/gatherings (in Motherlode that is). This seemed BaT's view too? But I had NO idea shipping was that much- major drawback.
Insurance & BaT pricing/reserves; I didn't set prices, they did based on prior average sales for similar Studes. They know their pie charts/graphs & averages, lafs. Auctions; even with other antiques/collectibles I deal with?; ya don't know- cld go higher or lower. I was actually going on what fam had been offered prior- exactly in that range. But this is now. Thanx for all info, I am reading & info gathering.

[PackardV8]

The most certain method to determine the current market value is to place it on eBay or BaT with no reserve. Then you'll know.

Wishful thinking by owners or WAGs by forum members are not indicative of the real world worth.

jack vines

[enjenjo]

There was a similar truck advertised in Vintage Truck magazine last month for $5000 "running last year".

[StudeRich]

The BAT Ad says it is a 3 Speed Manual, but it clearly has a Floor Shift 4 speed, there were No 3 speeds on the floor.
I think the Reserve Price should be a mutually agreed on Price, it sounds like Suzy is saying that BAT priced it, it clearly was wrong.

[PackardV8]

The BAT Ad says it is a 3 Speed Manual, but it clearly has a Floor Shift 4 speed, there were No 3 speeds on the floor.
I think the Reserve Price should be a mutually agreed on Price, it sounds like Suzy is saying that BAT priced it, it clearly was wrong.

From experience, BaT tries very hard to get sellers to list with no reserve. If the seller wants a reserve, the staff contact goes through a list of reasons why the auction will attract more bidders with no reserve. If the seller holds out for a reserve, BaT will place it in that category. If the auction reserve is not met, the high bidder has 24 hours to make their best offer; the seller then has 24 hours to accept, decline, or make one counteroffer.

jack vines

[suzyqz]

Hi PackardV8; what's a wag? I'm not up on lingo No wishful thinking on my part: my Dad was offered 12.5 & my bro 9. Then insurance came up with 10,000- under "antique auto". BaT set a reserve of 10 last year- I got held up, so put truck up this year, now they suggested 12.5. My neighbor wanted to buy it for her son @ 10, yr before last. She luvs it, but he's a actor in NYC, so he told her no thanx; no garage. She didn't blink at price, put 4 down to hold it.
StudeRich; they do set reserve, but you are asked if you agree to it. Based on all the above- specially BaT- they deal with these old trucks often- I said ok? They have record's of all Stude truck sales/charts, by truck year & years of sales. Certainly mine seemed to be in the lower wrung of that graph. There weren't many UNDER 8/10 period, regardless. Open to public, check it out.
Did I research? Yes, whole file full. It IS hard, 1/2 original/1/2 modified. Decent cond, but not great, needs work, but runs, not a heap/wrecked truck either-but not prestine. Hmm. Didn't wanna do Ebay/Craigs- wanted the safety of auction house/$ exchange thing.
Engenjo: thanx, that sounds realistic-wish I could see.
StudeRich;Thanx, what a find: I sent BaT this ; orig Champion 6 Cylinder flat head engine, granny gear transmission, full floating H.D. differential. So, I'll have to correct that. Thanx so much all.

[Dwight FitzSimons]

"WAG" means "wild ass guess"

[suzyqz]

Hi guys, actually Jack a "no reserve" option was never brought up to me, nor explained, either time w/BaT/individual auctioneer. They sent me a pre-print email stating acceptance of vehicle, then a reserve price & will I except? I said yes both times. I've never auctioned a vehicle before, they're the experts- this is what they do: sell vehicles & have a decent grip on levels, worth/history of sales. I had nothing to do with reserve except to ok it- was following their lead. On website they have general info on reserve/none. But they felt these reserves were best or wouldn't have suggested it. They were nice but all communications emails only, I have them all in truck folder. I would've done auction differently now. But they seem nice people @ BaT.

[mbstude]

Keep in mind that while this forum is full of enthusiasts, none of us are car appraisers.

I'm also surprised that BAT suggested a reserve of $12K. Every car I've sold on there, they fight me anytime I've requested a reserve. They want guaranteed sales.

I've sold a dozen Studebakers on BAT, including two 1950's era trucks. You can take a look here: https://bringatrailer.com/member/mbstude/

Since you joined the site looking for opinions, I'll share a few things I've learned from experience.

As the other guys have said.. A 2R10 is not "rare", and is actually the least desirable of all of the 1949-1953 2R series "small" trucks. Being a 1949 model, vs a 1950 or 1953, doesn't add any value.

Now that these trucks are 70 year old "collectibles", most people want the short bed, 1/2 ton pickups. A 3/4 ton isn't as desirable as a 1/2 ton, and a flatbed isn't as desirable as a pickup.

A 2R10 has the 170" six (smallest engine offered), and the 4 speed is the least desirable transmission (a 3 speed with overdrive was a commonly ordered option). The 170" with 4 speed setup is good for 40-45 MPH, which means you can't really drive the truck on an open road. That limits the number of potential buyers.

A few things that may have contributed to the BAT bids staying low:

Some advice I was given early on... "People pay for curb appeal". They also pay more for vehicles that they can feel confident in. When it comes to selling on BAT, it's all about instilling confidence in the bidders, and being open and honest about what the vehicle needs, and doesn't need.

The photos in your BAT listing aren't great. Most of them are dark and grainy, and the distorted "fish eye" pictures are difficult to look at. Buyers just want to see a vehicle for what it is, and distorted, "artistic", pictures get in the way of that.

Photos of your truck with it staged in a rural setting with good lighting, and clear photos, would add a LOT to its curb appeal.

The biggest factor.. Condition.

The vintage trucks that sell for big money are either very nice, well maintained trucks in usable condition, or they've had thousands of dollars and hours invested to make them like-new.

Unfortunately, your truck is neither of those. It looks to be a well used old truck that was given an inexpensive paint job, with little restoration work done otherwise.

And while there is nothing wrong with selling a project car, you do get an entirely different set of buyers.

The guys who buy project cars do so for one of two reasons:

1- They're on a tight budget, and they have more time to invest than money. That means they need to buy the car for as little amount of money as possible.

2- They have the money, and they like the thrill of a restoration project. It costs more to restore a Studebaker truck than it will ever sell for, so that also means that they need to buy the car for as little amount of money as possible.

Sadly, your truck needs quite a bit of work, and money. Chunks of paint are flaking off, and there's rust coming through on the lower portions of the doors and fenders. There aren't any photos of the underside of the cab, but I'd suspect there are rust issues there too. Rust is an expensive, time consuming thing to repair properly, and it really kills the value on one of these trucks.

You said that the truck runs, but there aren't any videos of it running or driving. Since most BAT buyers can't inspect the vehicle in person, they have to rely on accurate pictures and videos. Videos of your truck running and driving down the road would have given a lot of confidence to potential buyers.

And with all of that said...

Your truck is still a pretty cool thing, and the family nostalgia makes it interesting to those that like a good story. There are people out there that would love to have your truck, but I don't think it would ever sell for $10K in the condition it's in.

I really hope you don't take my comments as insults. My only intent is to provide some realistic information from someone who has "been there, done that".

[PackardV8]

Great overview, Matthew and your considerable experience on BaT is the same as mine; they actively discourage a reserve. And as you said, those without professional credentials as an appraiser or without skin in the game are not to be taken as gospel. If the truck had been listed without reserve, the current market value question would have been definitively answered in seven days. Problem is, IIRC, BaT does not allow relisting within a short period.

Better photos, more accurate description and maybe eBay is the next best venue.

jack vines

[abkco]

I agree with everything Matt said above. He has helped me learn how to sell cars and trucks on BaT. I spend the extra dollars, around $350, and use the BaT photography service. No pictures in partial shade, no driveway pictures, no garbage cans visable, etc. I had one of their photographers explain it to me this way, “you’re selling a lifestyle, images of where you’d like to be”. A farm truck should be shot on a farm. I think better pictures would’ve brought a better price, but nowhere near the reserve.

The fact that you’ve been offered more by people who have seen the truck in person, tells me you would do better selling it locally. Jackson is a little out there, but you should be able to attract buyers from Sacramento down to the Bay Area who would travel a ways to see it. Good luck and I hope you get what you want for it.

[Dick Steinkamp]

People had delayed lots of fun things during Covid, including playing with cars. The collector vehicle market peaked as we came out of Covid lockdown. Folks had the money they didn't spend during lockdown and really wanted the "toys" they had deferred. Demand (and prices) were high. Things went downhill from there with the collector car market. Demand was satisfied, inflation made people worried about buying non essential items. The collector car market today is terrible for sellers (but great for the few buyers). This type of truck always had a rather small buying audience. It has a tiny audience right now. You can't compare prices of collector vehicles today with those 1,2,3 years ago. They are lower...up to 30% by some estimates. If you don't absolutely need to sell the truck right now, I wouldn't. The market will come back.