Dynoking

That may be step one if that's legal. The next issue (for me if I was the purchaser, or maybe you) but perhaps the next purchaser would want to know what is the actual milage of the vehicle. Is there documentation? Was the original speedometer saved? I'm not trying to pi$$ on the car or pop your ballon.
My ultimate concern is if the car as a whole was actually a Rallye or are they selling a painted Cutlas with a Rallye VIN. Was the drivetrain rebuilt by a reputable shop with paper work and maybe a warrantee, or "freshened up" then painted and decaled? I'm guessing someone built this car to flip. Dare I say a BJ special? My math doesn't add up. The price of a car to start, repairs, paint, installed options, sellers commission. All for $49K. Lets say $3-$5K for the car. Actual sale price $46K? Less 10%? commission? We know a simple rebuild of these engines is north of $6K. Not a lot of wiggle room for a full on drivetrain rebuild. But the OD is "reset" to zero? Humm... This just me thinking out loud in my head. I could be drop dead wrong about it everything. Just my three cents for what that's worth...
The best advice I can give is join the national and a local Olds club. Attend meetings, gain knowledge, make some friends and talk with the experienced experts. They can help verify the vehicle. Many of these members have been around for a while. A vehicle like this usually don't just pop up. The inner circle Olds enthusiasts usually know about high end or rare models including what cars were waiting to be found, what has been up for sale, who owned what, and what is being restored. I wish you all the best with this. Please let us know the out come.
Edited to add: Build sheet?

WTHIRTY1

The body tag rivets look goofy so get the explanation there. I would want to see how the car looked prior to restoration that necessitated new floor pans. I would not sweat the odometer too much.

With a Rallye, or any W-car for that matter, I would want paperwork or at least something showing it is a factory Rallye 350. It may not be important to you, but the next guy will likely want to see it.

Let us know what you find. Selfishly, I would rather have a survivor than an average restoration but that’s just me.

no1oldsfan

Amen to all your points. I will take a survivor over a full blown restoration that's questionable all day.

Terry Wright

First, thanks to everyone for a ton of great input. Second, sad to say that once again the photos are MUCH better than the real product. I flew from Mpls to Charlotte today and was really disappointed. I believe the car is a legit Rallye 350, BUT the restoration quality was REALLY poor. I knew it was an amateur restoration going in, but WOW ... I did better paint/bodywork when I was 18. Anyway, the search continues and I REALLY appreciate all of your input.

no1oldsfan

Wow that sucks. Gotta love scammers. Filth farn filth farn 😈 Have you checked out the survivor that is for sale here?

BangScreech4-4-2

Fifty grand, huh?

Terry Wright

@no1oldsfan - yes, i am in contact WHTIRY1 ... thank you!
@BangScreech4-4-2 - I am ok with 50k if it looked as good as the pics but personally wouldn't buy it for 30k after seeing the vehicle. I guest that's why a person spends the money to look at it in person!

BangScreech4-4-2

That looks like a very honest car. Good luck.

Dynoking

So it turned out to be a 10 footer. Something I left out of my earlier post. The paint on that car should have cost $15K or higher . A legit resto would put the price tag into the $80K's. Sorry you chased the car with your time and money, Please think of my suggestions of joining/consulting Olds clubs. They can be you best source of info/knowlege/asistance in a purchase like this.

Terry Wright

@Dynoking - yes, "good from far ... but FAR from good". Agreed regarding your costs on restoration ... that's why I wasn't worrried about the 49k price tag provided it was indeed restored to a relatively high level. Unfortunately, NOT the case! Oh well, at least i caught an earlier flight back and they had plenty of gin to dull the pain. I am a member of H/O club as I am also searching for a '69 H/O and I will be joining the Olds club on Monday. Appreciate the suggestion!

no1oldsfan

For fifty grand you have so many options. Andy here can hook up with anything fake... Mister "If someone put the money into it it must be worth it." Good for you not buying it. I am so over people putting big money into fake bullshi* cars. I commend you. Really sucks you took the trip down there for bs. For the money? Grab a 70 Cutlass. 455 it and build it as yours.