If they made a K motor into a 331, then they've essentially destroyed the K original value.
Wow. That never occurred to me. I assumed they used an
aftermarket block. Instead, they took an engine which is
really only valuable as a collector's item and treated it like a
common junkyard block. Brilliant. The stupidity of that choice
would make me walk away.
Obviously, I agree with the other posters and strongly advise
walking away from this car. There's just too many things wrong
for the asking price. I know overseas shipping is expensive, but
if that car's real market value is about $30K then you'd still have
about $20K remaining for shipping and AU taxes.
If you're thinking on dropping $50K range on some collectible
Detroit iron, especially with investment as a factor, here are
some suggestions...
First, make a list of cars you'd prefer. Does it have to be a
65/66 K-code fastback? Would a 1968 428 Cobra Jet be an
acceptable fallback? A really nice 68 fastback S-code? Or how
about a 69/60 Shelby GT500? The black 68 440 Challenger
from Bullit? The 1967 44/Hemi Cudas are very cool and
relatively affordable. Just sayin' to keep an open mind.
Second, contact reputable brokers in the States to shop
around for you. Avoid classic car "dealers" which are really
just Ebay mimics (Gateway, Vanguard, etc). With a little
effort, you should be able to find a Wayne Carini type who
knows everyone in the investor car scene.
Finally, it may sound crazy, but a high-end auction house
may be your best route for the money and type of car you're
considering. The folks who buy million dollar Ferraris often
turn up their noses when very desirable muscle cars roll
across the auction block. Contact auction houses with truly
excellent reputations for only handling the very finest restored
cars. Sotheby's, Russo & Steele, and Gooding all comes to
mind. Their expert inspections rejects the stinkers. Barrett
Jackson and Mecum are really not in the same league.
For example, I was recently prepping my truck and trailer
for a last-second 12 hour dash to West Palm Beach, Florida.
Now I don't do stuff like this every day, but I got wind of a
fully restored R-code 1968 428 Cobra Jet 4 speed with an
optional bench seat for sale at the Spring Sotheby's auction.
How crazy and rare is that? The 68 CJ is my personal unicorn,
and while I may own one someday, I refuse to pay drunk
Vegas bidder prices you see on TV. In this case, Sotheby's
listed the car with no reserve at an estimated selling price
of $45K to $55K. Their auction estimates are usually pretty
close to real market value, but I would expect such a rare
and desirable muscle car to sell closer to $70K. Given the
really high-end cars in this auction, I figure the "Joe Dirt"
muscle car guys like me would be a small minority of the
bidders. So I wanted to roll the dice and make the road trip.
Unfortunately, a last second family emergency forced me
to abort the mission. And if anyone knows the answer, I really
don't want to know what the car actually sold for, especially if
it went for around $50K. I might cry.
Oh well. There's always another one out there somewhere
and they ain't going anywhere. That's the most important thing
to remember.