BMW 1602 project but how much to offer? *bought*

thems making good money well wortha punt,ask him what he wants and workfrom there

I think you are right regarding the tail lights. I really don't understand this. To me these rectangular lights look much better than the round ones.
I think this 1602 looks great. Honest patina no bought in a can patina!!

I am normally not a fan of rat rods or leave as found cars but this one would look great to leave as found. Get a MOT on it but leave as is....
However I do like them looking like new too!
My first car was a BMW 1802 with a 320 4cyl motor. I had to sell it before I got my license. 

I’d offer £850 - 1000, it’s going to be s very long term project. Nice wheels though

makes me sad this , not worth a great deal in current state as , like others have said your buying a lot of work!

1k tops i think , depends on how much is there for me in terms of parts and salvageable bits

(Octane) Classic Car Price Guide 2018-19

BMW 1602 / 1502
Excellent    £10,500.00
Good            £6,500.00
Average       £4,000.00
Project         £2,500.00

Project : Often cars that have been unused for a long period of time generally needing substantial work to get back on the road or through the next MOT.

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Yes there is a chance that you might inadvertently insult the owner and get off to a bad start by going in too low so you want to try to get an idea from him as to what he thinks it's worth. People who hang onto cars for a long time often have an unrealistic idea of value but if it's mainly sentimental value this can work in your favour if he thinks you're going to do what he couldn't and restore the car, (I'd be disinclined to share your actual intent with him).

When cars are taken off the road it can be because of something relatively minor or it can be due to something catastrophically expensive. Ask a lot of questions and see if he will show you paperwork like old MOTs. It could be the engine is fubar or there was significant structural corrosion which will only have increased over time, (try to get your head underneath to see what it looks like). It looks to me as though this example would not be economically restorable, i.e. you'll never get your money back on what you're going to pay out on parts & welding or for what you're going to spend you could go out and buy a half decent one but these forums are full of such money pits whose owners would not do without them.

This is the scrappier end of 'project', assuming no horror stories like blown engine I don't think I'd want to pay more than £1,500.00 for it so would go in waving £1K to start. Hopefully he wants rid and would take less as suggested in earlier posts so sound him out.

Start by asking yourself what's it worth to you?
Then add on the time ( years??) / £££ / hassle to get it roadworthy. Does it have a reg & V5 ?

Is it economical to get it back on the road, or would you be better off buying a "more finished unfinished project"

* Ignore what I do, I enjoy tinkering so buying an uneconmical project sometimes gives me what I want 

For info, I went to look at a Mk1 Cortina "project" a few months ago.

Engine & box missing, the shell was so badly rotted the front edge of the bonnet had split open into 3 layers. The car would have snapped if we had tried to tow it out of the field / yard   
Other Mk1's projects on Ebay were a lot more solid ( 1 even included several expensive repair panels) - and were selling for £600 - £1k.

I got offered the rusting heap for £2k as "it's old, it's rare, it's valuable"
   


Nice folk, but their idea of what it's worth was a long way above what better projects were selling for.

Offer him £500 and when he says "...I've been offered £1500 ..." shake his hand and say "...let me know if it falls through..." and walk away.

I'd read that as "I'm going on eBay to see what they're going for before I commit", he'll spot a usable running example and price his along similar lines...