Would you pay over $100K for a restoration?

[vamach1]

This show was in Waldorf MD. He had the Matri report which of course by the time you account for it having power windows and an AM radio it was the only one made with those options and color etc. Nonetheless it wasn't a car I would not hav even given a 2nd glance if not for the cost.

 

[Machman]

Wow! I can't see doing it, 100,000 is alot of cash and will buy a mansion on decent property in some parts of the country so I just could not justify it even if I had the money to blow.

 

[whitesoc]

If your worth 25 million, 100 k is change. It's all relative. Would you hang a $80 million Picasso on your wall or a $300 picture from your local mall?

If I had it and I wanted the car......no doubt.

I think you hit the nail on the head with this one!

 

[mweeps]

Wow! I can't see doing it, 100,000 is alot of cash and will buy a mansion on decent property in some parts of the country so I just could not justify it even if I had the money to blow.

But who wants to live in a Detroit mansion these days?

 

[71_resurrection]

Never....never ever

 

[Flatback72.]

There's only one car that I would consider spending $100,000 to get, and that's the Powell Motors "Homer":

 

[BenD]

i think my car has already more aftermarket parts and parts from other cars on it then stock/original parts ...

 

[marks73]

What do you suppose it would cost to find and buy and install the original parts for this lets say "I found my original when I was 16 and bought it new but sold it" car?

 

[vamach1]

If I had the chance to buy back either my first sprint conv of first mach1 I would pass on both. Why - because the 2nd sprint I bought was in far better condition and the 2nd mach1 had more options than the 1st one. The fact that the cars looked very similar was of course no coincidence. Of course it's getting harded to find decent affordable 71-73 Mustangs and even harder if you are looking for a particular body style and color but there are cars out there - you just have to be patient and be ready to buy with cash in hand when you find your dream car.:shy:

I uodated the original post with a picture of the Mach1. Prepare to be underwhelmed.

 

[MotoArts]

There is a recent thread about a Sunbeam Tiger here, selling price $110K.

It's an astronomical amount for a Tiger, let alone 3 of them as a package.

This car below was built locally, and I had the chance to see it when it first hit the street several years ago. Even tough it made my jaw drop (as in "why would somebody defile a Tiger like this"), the resto quality and tasteful mod execution was stunning to say the least:

http://www.hotrod.com/featuredvehicles/113_0603_1966_sunbeam_tiger/

http://catmbr.org/VB_forum/archive/index.php/t-446.html

The Mecum selling price is a record for a Tiger from what I understand. The going rate for these cars is currently in the $20-45K range.

Why would someone want the David Ley car at that price?

Because they could. And did.

And to think somebody else was in the bidding war to get it to that price :whistling:.

The pic of the forlorn fastback shell above... if it were my mint (when I sold it for $1700) '73 Torino Fastback restomod high school ride (1983ish) that I found in that condition... damn, I do believe I'd have to scoop it up. Sentimental value to me far exceeds true value on only a few of the physical things that are and were in my life.

It's not only beauty, but value, that is in the eyes of the beholder.

There's no right or wrong answer I guess.

Interesting topic here...

 

[[email protected]]

I think Q said it right. he has built a memory with his family that will last long after he is gone. The money isn't the point in his case. Most of us to go but someone elses dream wouldn't consider $100k but many of us probably end up thru our labors of love with $40k or more and yet we know they wouldn't bring that from someone not attached to them. These are dreams to most of us, not a balance sheet. We are doing what we couldn't or didn't before. or recapturing what we did but had to part with. I would think few of us here relate to our cars as just transportation. They are our dreams

 

[Wolverine]

In my shop I gave a lifetime warranty on my craftsmanship for as long as you owned the car

But, what if I outlive you?

Snakeskin seat covers...

Wow...never thought of that. Where do I get a set, and how much do they cost?

 

[midlife]

$100k is nothing if it is bought from Barret-Jackson.

My 66 GT Fastback has easily $100k in it, if I charged myself $60/hour for the 5 years I spent restoring it...

 

[RacerX]

It would have to be a restomod with gold plating, TV's, $30,000 stereo system, $20,000 850 H.P. big block with stainless everything, Snakeskin seat covers............................... Yea, you get the idea !!

As long as it's not from the show Wrecks to Riches. I can't stand the show. They fake everything. I'm glad on the one hand that they are resurrecting old iron, but the crap they add and even their smc stickers. Uuugghh!

What makes it worse is people then pay stupid money for a fake pile of crap.

My 66 GT Fastback has easily $100k in it, if I charged myself $60/hour for the 5 years I spent restoring it...

This I agree with. Blood, Sweat equity and tears are very expensive!

 

[Qcode351mach]

I think Q said it right. he has built a memory with his family that will last long after he is gone. The money isn't the point in his case. Most of us to go but someone elses dream wouldn't consider $100k but many of us probably end up thru our labors of love with $40k or more and yet we know they wouldn't bring that from someone not attached to them. These are dreams to most of us, not a balance sheet. We are doing what we couldn't or didn't before. or recapturing what we did but had to part with. I would think few of us here relate to our cars as just transportation. They are our dreams

Very Nicely said


Here's the way it is with our cars RIGHT NOW could change down the road..when it comes to restoration on these cars once your past the 30-40k mark it's a losing situation...You won't see your money back..So investment wise (buying right now today) forget it..I'm taking top notch restored cars..

Much better cars to put your money into out there..My 71 SS/RS Camaro has appreciated an enormous amount in the 3 years I've had it..My Mustang not even half as much

 

[vamach1]

I've read all the comments and have some more thoughts which I'm sure not all will agree with them. While I can sort of understand the emotional reasons for overspending on a car that has sentimental value, the heirs may not feel the same at all. I bought the sprint conv from a gentleman in his 80s' with a 40 something daughter. I do not think she gave a hoot about the car or he would probably have given it to her. Unless the intended recipient wants the car AND has a place (i.e. a garage) to store it then the gift can end up being a burden. My neighbors wife's father willed his 60's Jaguar to her. The car sits is his dad's garage because it took up space in their garage (3 kids that play sports) so they really do not want the car and are lucky to have a place to store it although it never driven. It should go to someone that can work on it a drive it. I hate seeing cars just sit because someone feels guilty getting rid of it or worse yet the car deteriorate if its not properly stored and everybody loses. Anyhow, I think the gentleman in question with the Mach1 must not have asked for a quote on the restoration otherwise he would have come to his senses and gotten some more estimates. I personally think he was robbed blind based upon what I saw and that may sound harsh but for $100K I'd buy my dream car (concours Boss 351 or Pantera) and have at least $25K left over and I"d make some new memories.

 

[mach71351c]

My answer is no, I would pay over $100k for a restoration. I think I can do my Mach 1 as a nice driver for 35k. That's doing 80% of the restoration my self. To date I'm at 2.430 total dollars that includes 4 parts cars.I feel the car will be worth the 30-35k when completed.I seen this very nice 70 428 4 speed Mach 1 in the parking lot at Barret Jackson OC for way less than 100k. I do have a buddy that spent 53k to have his 90% rust free 69 Mach 1 prepped and painted.:huh: Then 20k for the 428 and five speed to be done. I must say the car is wicked. To spend 100k on a top notch job is not hard to do.

 

[Qcode351mach]

While I can sort of understand the emotional reasons for overspending on a car that has sentimental value, the heirs may not feel the same at all. Unless the intended recipient wants the car AND has a place (i.e. a garage) to store it then the gift can end up being a burden. I personally think he was robbed blind based upon what I saw and that may sound harsh but for $100K I'd buy my dream car (concours Boss 351 or Pantera) and have at least $25K left over and I"d make some new memories.

I know for a fact my Heirs want my cars !!! IT'S ALL MY KIDS TALK ABOUT My Son will drive & enjoy my 2 Machs & Camaro when I'm gone Trust me on that one ! I'm not surprised he was robbed blind ..My friend paid over 30k to restore his pantera..I wouldn't give you a dime for the job he had done..When I started going over the car pointing stuff out..He was shocked..& this was done by a guy who came highly recommended by a MCA judge..point is there's lots of so called expert restorers out there who's work sucks !

Va you should live your dream now ! sell the stangs & get your Pantera or Boss..Never been a better time than NOW to buy one of those cars...

 

[Austin Vert]

I was at a local Mustang show today and was parked next to a gold 73 Mach1. Next to it was a red 73 that had nice paint but needed some cosmetic work . I started to read the owners signs and such on the gold mach1 and I did a double take at what he said he spent on the restoration. Yes - over $100K and he had checks and invoices and receipts to "prove" it. What I cannot for the life of me understand is why someone would put more than $50K into ANY 71-73 Mustang except a Boss 351 or 429 CJ or SCJ or maybe a 72 HO convertible. This was a California Q code but there was nothing else that would make it worth more than $25K at your typical auction. I'll post some pics later but this did not by any means appear to be a thoroughbread restoration with nothing but NOS parts. It obviously had aftermarket seat material (silver versus argent stripes). I should have looked underneath as for that kind of money it should have been Barrett Jackson undercarriage camera spotless. So - back to my original question - under any circumstance would it make any sense to pay out that kind of money to restore a 71-73 Mach1 Mustang unless Bob Perkins personally sold and delivered to you a bunch of NOS very hard to find parts?

Hey there partners!

I sure reckons that looks like Gold Glow color to me.

Maybe that fella resprayed that old girl with real gold dust

for the basecoat. That's gotta be what the $100,000

is all about!

Say there, you couldn't tell me where a guy could buy some cheap gold dust could you?

Austin (Greg)

 

[Tnfastbk]

I think Q said it right. he has built a memory with his family that will last long after he is gone. The money isn't the point in his case. Most of us to go but someone elses dream wouldn't consider $100k but many of us probably end up thru our labors of love with $40k or more and yet we know they wouldn't bring that from someone not attached to them. These are dreams to most of us, not a balance sheet. We are doing what we couldn't or didn't before. or recapturing what we did but had to part with. I would think few of us here relate to our cars as just transportation. They are our dreams

Very Nicely said


Here's the way it is with our cars RIGHT NOW could change down the road..when it comes to restoration on these cars once your past the 30-40k mark it's a losing situation...You won't see your money back..So investment wise (buying right now today) forget it..I'm taking top notch restored cars..

Much better cars to put your money into out there..My 71 SS/RS Camaro has appreciated an enormous amount in the 3 years I've had it..My Mustang not even half as much

The problem there is the 70/71 Camaros are all over the board when selling. I see it every year at the rod runs. One year the are mid to upper 30's next year same quality car is high teens to mid 20's. This seems to go on from year to year. one of these years gonna buy on a down year ans sell on a high year. Not knocking the Camaro, this was pointed out to me by my camaro buddies and we watch now year to year just for fun.