Estimated value of a 1951 M38

[Rob B]

Hello,

I am new to the ownership of an antique military vehicle.
I looked at an M38 that was owned by a Vietnam veteran patriot. I am told it was his pride and joy yet it needs some TLC. Tires are all very low and batteries were dead. Undercarriage is coated with oil all over. However I did get it started and ran well with a few low valve noises. It has been sitting for 3+ years. Could not be driven however I believe it will do fine after a complete fluid change.

Please see the attached photo's and let me know what a fair price would be. I appreciate your help..

Thanks You,

 

[SETOYOTA]

What's the asking price? Does it come with the 416 trailer? Easlily 10k maybe 12k. You should sell the trailer and get a m100

 

[NDT]

That Jeep has been ground-up restored. Cleaned up it is worth $20,000.

 

[Rob B]

I am told the father paid 18,000 for it....
It does come with the trailer in the picture i am not sure what model it is.

 

[Rob B]

That Jeep has been ground-up restored. Cleaned up it is worth $20,000.

WOW, are these things appreciating or staying fairly stagnant? I have no idea how many may be out there being restored. Thank you for the input.

 

[NDT]

WOW, are these things appreciating or staying fairly stagnant? I have no idea how many may be out there being restored. Thank you for the input.

I would say stagnant.

 

[SETOYOTA]

The M38 is desirable much more so than a m38a1. Not near as much as a WWII Willys MB or Ford GPW . The trailer is a M416 made for a M151 1/4 ton. Appropriate trailer would be a m100.

My lower number of 10-12k is based on how she sits now and lower collector interest in the m38 vs WWII jeeps. I have no doubt he paid 18k for it if he bought it off a web page or paid someone to do the work . That had to be several years ago based on how it looks now.

 

[Tinwoodsman]

You need to re-seat the rubber air cleaner hose to the carb. Good luck.

 

[Rob B]

You need to re-seat the rubber air cleaner hose to the carb. Good luck.

We had to spray either in it to get it started. It needs love.
The entire undercarriage is covered in oil so it makes me think it may have not been completely rebuilt.

 

[just me]

In my neck of the woods that would probably sell for around $14,000 after a bath and maintenance. Maybe a few grand more with all the extra stuff if it drives well. It has all of the hard to find (pay for) bits on it. I would give that kind of money for it and I'm a cheap so and so. M38's are like Front Line Ambulances. More rare than any of the other Jeeps and therefore to me, more valuable.