We love the look of this 1956 Packard 400. Photo by Hemmings.
For $46,500, though, it’s hard to imagine how many collectors will be dying to but it. We’d be one, if we had that kind of cash. Photo by Hemmings.
The Packard’s understated design means it will stand out in a field of exuberant cars from the Big Three. Photo by Hemmings.
Expensive chrome work has been handled, and the grille mesh is an appropriate gold color. Photo by Hemmings.
Much attention has been lavished on the V8 engine. An Oldsmobile oil pump should help work around starvation problems. Photo by Hemmings.
The interior isn’t bad either — we wouldn’t hesitate to call it immaculate. Photo by Hemmings.
If this 1956 Packard 400, featured at Hemmings, is half as nice as it seems to be, it won’t fail to be anything other than a joy to own and a blast to cruise in. Head over to the listing to check out all the photos — it’s an undeniably great example of one of the last real Packards.
But we’re a bit hung up on the price. The Portland seller wants $46,500 for the car. Hagerty pegs the average value of a ’56 400 at $15,829, with a concours-ready example recently topping the value charts at $46,800. So the ask here isn’t necessarily crazy…
But we’re trying to figure out who, exactly, buys this car, especially for going on $50,000.
Don’t get us wrong: There are more than a few Packard fanatics who would love to add this car to their collections (the author is one of them). And the 400 is a seldom-seen car with clean, underappreciated styling, a V8 capable of providing adequate motivation and all the power-operated goodies one could want.
But there are many cars out there with far greater cachet than this end-of-the-line Packard. We’re not just talking about other cars by the marque (like the Caribbean): Having $50K in your pocket will broaden your options to include any number of cars both foreign and domestic. You could choose from a variety of post-price collapse muscle cars or a really nice vintage 911 for the money.
Sad though it might be, the reality is that few older collectors dreamed of owning a 400 in their youth; fewer younger collectors care about Packard. We suspect prices this high will crush any interest that lower-priced Packards occasionally attract.
So we wonder whether the price reflects the desirability of the car or the fever that seems to have spread to every corner of the collector-car market, from humble microcars to pedigreed racing legends with rugged work trucks in between.
Price aside, this 400 has a lot to offer. Mileage is low, and we assume that the frame-on restoration has kept rust at bay. The interior looks great. Much attention has been paid to the engine, and rightly so: Packard V8s have been known to suffer from oil-starvation problems. The upgrade to an Oldsmobile 442 pump might have been a wise move. With 700 miles on the overhauled powerplant, it is said to be running strong.
So, is this Packard worth every penny, or is the asking price a symptom of the overheated collector market poised for a crash? We’re eager to hear your opinion.
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