August 13th Update – we originally featured this ’78 Caprice Classic for Wagon Wednesday back in early June when the private seller wanted a completely unrealistic $17,500 for his wagon. We just noticed since that time in an updated post that he’s tried to lower the price twice: first $14,500 and most recently $11,900. As you can see from the NADA estimates, he remains completely out of touch with reality on this and thus, still unsold.
In August 2019, we found this 1978, 112K mile Chevrolet Caprice Classic Wagon listed on Craigslist in Churchville, NY where the second owner decreased his asking price $5,600 from $17,500 in mid-June to $11,900 now. Unfortunately, the seller’s expectations continue to remain out of line with the reality of the market as the Hagerty Insurance Valuation Tool does list a value for these wagons yet, and the NADA Classic, Collectible, Exotic, and Muscle Car Appraisal Guide list the “Low”, “Average”, and “High” values as $1,375, $3,050, and $5,725, respectively. Consequently, we have the latest recipient of the Guys With Rides “NEW!” (No Effin Way!) award for a seller asking a way too optimistic price.
The example featured here is from the second model year of Chevrolet’s drastically downsized full-size line-up. For the 1977 model year, GM reduced the Caprice wagon’s weight by 871 pounds, decreased the length by 14 inches, and shortened the wheelbase by nine inches, all while increasing interior passenger room and cargo capacity in nearly every dimension versus their 1976 model year counterparts.
Originally a California car, the second owner states his rust-free wagon comes with the original window sticker and is equipped with a 350 cubic inch small block V8 engine providing an owner-claimed 300 horsepower. The engine transfers power through a 700R4 four-speed automatic transmission which in turn sends torque through a ten bolt rear end equipped with 3:73 gears and positraction. The owner states that rebuilt the powertrain was rebuilt on his Caprice at 100,000 miles. There are a number of other details of options and upgrades provided in his post.
While a very nice survivor now equipped with desirable power train upgrades over the Malaise-era stock setup, we believe the second owner is banking that the rarity of a rust-free example like this in Western New York deserves a high premium. We disagree and predict he will end up having to bring his price way down before a serious buyer arrives. Good luck with the purchase!