At that age, I don't think most people would invest in a new motor for it, UNLESS they were planning on keeping it for a long time afterwards...
But that scrap value is a low-baller for sure....hell even some of the main parts (tranny, rear end, catalytic convertor etc) are worth more than that if they are in fair to good condition, let alone the frame, doors, body panels etc...
I would list it up at ~$4000-5000/OBO, with a complete complete list of the good, bad & ugly details, and see what happens....
However, some of the price considerations would be where you list it (ebay motors, craigslist, local classifieds etc), if you are delivering it or the buyer has to come get it, how far away the buyer is from you, and whether you will incur any fees for listing it...
Just make sure that you:
A) Cancel the insurance (if any) & the registration that you have on it (if you haven't done so already). Once you do this, most states will require that you return the license plate to your local DMV within 30 days (if you don't, a sherrif may come a knockin on your door !). Be certain to either drop the plate off in person & get a receipt, or mail it with a trackable service like Priority Mail, so it doesn't get "lost" in the mail... all of this MUST to be completed BEFORE you sell it, whether in 1 piece or in parts...
B) Clearly state in the listing that it is a "
AS IS, NO WARRANTIES OF ANY KIND, EXPRESSED OR IMPLIED" sale (with that exact wording in multiple places in the ad), which protects you from greedy, litigious scammers and con artists
C) Make the buyer sign a bill of sale with all the details about
what is included and what is NOT, and give them a copy. This protects both of you. You can googly for some blank forms which are valid in your state to fill out, or get a notary/lawyer to write one up for you.
As you may have guessed already, I've "been there, done that" many times, and I hope these tips will help with a sucessful sale
