A shame the long time owner apparently did not get paid anywhere near its worth.

I agree Charley ...I feel bad for the family ...I am sure they could of used the funds.

Well said Charley. Most of the time we endeavor to protect the ususpecting buyer, but seldom endeavor to protect the unsuspecting seller. We often applaud the buyer who got a steal, when that's exactly what they did.
About 20 years ago, my aging aunt was offered $1500 for a '46 or '47 Packard woodie, which had been in dry storage in the basement of my grandmother's grocery store since 1952. My aunt, who knew nothing about cars, especially Packard woodies, took the deal. You could argue that she was happy with the deal, so what's the harm? The flip side is that the car was probably worth at least $25,000 as it sat. If the guy had offered $15,000, I'd say he was just trying to get a good deal, but at $1500, he was outright stealing.

On the flip side. Did the guy offer $40K or was that the sellers asking price? Big difference. Sometimes money isn't the point of the sale. Just trying to give another side of the coin. At the end of the day if both parties were happy with the sale and purchase was it really stealing? Not like he held a gun to the guys head. Or did he..?.. :dunno:

Keep an eye for it. It'll probably be for sale in 6 months for twice the price.

It is already for sale...guy wants 225k ...said he turned down 175k

I'm all for getting a good deal, but buying from a friend/neighbor for $40K and then flipping it few weeks or months later is pretty slimy, unless he decides to cut them in on the nice chunk of cash he gets for it. If not, that's some friend. JMHO.

So much for the part of the OP that said the car wasn't for sale. Definitely a cool Chevelle, but $225k???

Wow! I guess I'll stay in Corvette world for now.

Blair

There was only one brother left in that family, surprised if it sold that cheap.
The two brothers built and restored mostly hot rods he would have surely would have known
of the value.With that being said he is older and was probably taken advantage of.

If the buyer is a dealer the seller has legal recourse for being taken advantage of.