the rust is not in areas that I would expect a factory paint job to rust. Are you sure it is factory paint? Also not what I would expect in a california car. Does the history support a california residency all its life?
The condition does not support a full retail value in my mind either.

Tom W

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[SIGPIC] Diesel loving autocrossing grandpa Architect. 08 Dodge 3/4 ton with Cummins & six speed; I have had about 35 benzes. I have a 39 Studebaker Coupe Express pickup in which I have had installed a 617 turbo and a five speed manual.[SIGPIC]

..I also have a 427 Cobra replica with an aluminum chassis.