That is probably not a deal for you, should you decide to take it.
But...for many of us our old cars and trucks are worth more than
dollars and cents (or maybe sense).  Our kind of vehicles are worth
what we think they are more than a blue book price.  With that said, a
guy asked me the other day what I wanted for my R1 Champ. I told him
what you said, that it is really not for sale. He pressed on and I said
$10,000.  His reply was, "You mean if I pulled 10k out of my pocket
that truck would be mine?" I replied, "yes," and worried all the way
home that he would call me.. He hasn't called me yet, but I have been
thinking about what I could get to replace the truck for that kind of
money.
Joe Roberts

Depends.  Did you just buy this car, or is this a car that you've been
through and know and trust?  If the former, maybe selling and buying
something more desirable might be an option.  If the latter, you should
get a little more silly when someone asks you to name a price.

I probably wouldn't take less than 12K for my '55 right now; it's
certainly not worth it open market but it's worth that much to me,
because I've seen all the whirly bits.

nate

You should have done it.

Well if you wanted to sell it, or planed on selling it, there would
have been a for sale sign in the window.     So don't worry about a
disappointed "buyer".
  If you are not ready to consider selling now, you could offer to
give him first notice if you change your mind.  Or help him make a good
deal with local club member.
  You can do the Ben Franklin method.  Divide a piece of paper in half
and write all the positives of the idea in one side and all the
negatives on the other.   Is there a car or model you would prefer?
and would this help you make the upgrade?
  But be sure to put your enjoyment on the list somewhere.   Most of
us own for the enjoyment of driving and pride of ownership.  And mine
is like family pet.   So there may be non-monetary reasons to keep it,
at least for now.  Most of us can identify with that.   I mean if we
were doing this for money we could do something else and work less for
more.
  If you don't go ahead refer him to JP.  He can hunt one down for
him.
  Invite him to the local SDC meet in any case. And send him a link to
the Studebaker web ring.  Push him down the slippery slope of
Studebakerdom.   He will either thank you or curse your name.   Or
both.
 If you do go ahead; there are a few guys here who can give you info
on how to not get scammed by fake cashier's checks and what not.
Tony in Austin

You should sell! ! ! ! Then you could buy the one I just found for $5000.
It has a rebuilt V8, AT, PS, PB, all new rubber, new suspension, cold 134
AC, new upholstery, new paint, and new tires and brakes. Good luck.

A four door and a six cyl. to boot and you turned down $8500? You must
really like that car.<G>
J

There were, for all practical purposes two choices for both of you and
you had first choice:
1 - walk away with $8500
2 - drive away in the car.
You selected the car. Effectively, you just rebought that car.

Karl