Abandoned project; what's it worth?

[Nader]

Hi everyone.

I have a '59 100-6 that never completed it's restoration which was started by my neighbor in the early '80s. It sat on blocks in his garage, with a replacement head (original cracked) but the rockers kept loose off the valves for storage. It sat this way for decades and he sold it to me when he moved a couple years ago. I was really excited about it as I've always been attracted to these big Healeys. I had a Spitfire in highschool and college, and thought I could manage this project. I got a few things done, including the hydraulics and the bare minimum to get it running. Just to see if it was worth proceeding. I intended to fix it up in a sympathetic resto sort of way just to get it up and running for fun, but I'm realizing I may not have the free time for it. Not a 100% sure I want to sell it, depends on what it's worth vs. what it would cost to have a shop finish it (but not to a high, concours degree).

The good:
Clear title in my name
Believable 80K miles on odo (parked in the early '80s)
Engine ran after I adjusted the valves, installed a battery, and fed it fuel
Body panels straight (some still in primer), except nose and tail with cracking bondo
Minimal rust
Gauges work
New hydraulics from master cylinders to wheel cylinders
Newly recored radiator
New gas tank (not installed yet)
New fuel pump installed
Many new restoration parts (some still in boxes from the '80s); between the new and the old, the car is complete

The bad:
Right front frame rail slightly bent (car took a frontal hit some time ago?)
Leaking diff and engine (rear main?)
SU Carbs could use a tuning
Flywheel frozen to clutch
Body needs reassembly and paint, nose and rear skirt need some extra attention
Wipers, heater, and horn questionable; misc. electrical splicing
Needs fresh carpet and door cards
Upholstery looks like 70's vinyl (but intact)
Wire wheels rusty, mismatched, knock-off ears beaten out of shape
Probably needs new suspension bushings, rubber visibly cracked at several points
Ancient tires

Here are some pictures. I could take more. I had some of the body loosely hanging off the frame just to see what it would look like. Currently the front clip, doors, and windshield are removed. Please excuse the mess of my garage. So what's it worth as is? And what would it cost to finish as a driver at a reasonably good shop? Thanks!

 

[Brinkerhoff]

The last two big Healey projects I bought I paid under 4K apiece and they were roll up window cars. I sold a model just like yours for 15K two yrs. ago but it was a runner. Yours needs at least 20K spent on it to make it roadworthy. Hope this helps.
Cheers! Kevin

 

[Editor_Reid]

And what would it cost to finish as a driver at a reasonably good shop?

This is a comment often heard, about wanting a Healey restored, but only as "a driver" and not to concours standards. It reminds me of a great quote from the late Rich Chrysler when people would bring him cars for various work, and proclaim that they didn't want it "concours." Rich's response was, "OK, what didn't you want done right?"

Sorry, didn't mean to change the subject. As you must know, the BN4 is the least-valuable model of big Healey. In #2 condition (club concours - not national concours - but still a very nice car and better than "a driver") the Sports Car Market Pocket Price Guide says $25-35,000, which is probably just about the cost to restore it to that condition if you do at least some of the work yourself. In other words, well, I think you get the idea.

In my estimation, you are facing a dilemma. You are not likely to sell it for very much at all, and if you keep it and restore it yourself, you'll likely be at least a little bit upside down and you will still have the least-pursued model of big Healey. Sorry, but just trying to be realistic here. Others may differ, and I hope that some with happier assessments will add their opinions to the discussion.

 

[Nader]

Thanks, Kevin. I'm not too surprised by those numbers. Has the value on these cars plateaued?

 

[Nader]

Thanks, Reid. It's a dilemma for sure. As you can see, I have a one-car garage. What you don't see are the two other sports cars that are vying for that same space, and a vintage race car stored off site that I'd like to keep in the garage in the off season for repairs.

Always wanted one of these Healeys, but I'm spread too thin for such a big project. Dang. I should probably unload it before I get any more involved and attached to it.

 

[Brinkerhoff]

Reid's logic is sobering but really the best way to look at it. There are a lot of savvy people looking for Healey projects that will not buy your car. It just won't make sense to them.

 

[Healey_Z]

It is hard to end up on the right side of car restorations. The only way that I have found is to do all the work yourself, value your time at $0, and if you can break even and enjoy the journey, you are ahead of the game.

 

[British_Recovery]

Nader,
Check to see what other mechanical changes were made to the car - I see it has a center shift gearbox. The engine may have been swapped out also, so check numbers. Good luck, Bob

 

[healeyblue]

I would agree with all that has been said but will add that the buyer can also realize his money if he intends to keep the car a while. If you top out the value of a car but intend on keeping it, then eventually the market should catch up and you wont be upside down any more. Of course by then you probably would not want to sell anyways.
JIM

 

[LarryK]

Advertise it with the inscription that it needs restoration, somewhat disassembled (runs) accepting offers. Like an auction. See who comes and see what their offers are, but put a reserve, at least what you paid for it. You can't expect to make a big profit, but, if sold to someone who will restore or cherish it, you will at least help preserve another Healey. OR, find a High School shop class or area vocational school and work with them to store and do the restoration, learning process for the up and coming youngsters who may then start preserving others. Do not expect a one year process, get with instructor about years, timeframe and your expected parts purchases when needed.

 

[Healey 100]

I suggest you sell it as is. Project cars are the worst value in the hobby. Most are really worth nothing, but there seems to be no shortage of buyers willing to pay 5 or 10K or more for them. Could be they want the parts or have cheap access to skills and spares needed to get a nice car like this back on the road. If you don't have the time and space to enjoy putting it together yourself, best to move on. Project cars seem to do well on eBay auctions. Good luck!

 

[Nader]

Nader,
Check to see what other mechanical changes were made to the car - I see it has a center shift gearbox. The engine may have been swapped out also, so check numbers. Good luck, Bob

Huh, Bob, I didn't know that wasn't stock for '59. What does the center shift gearbox imply? Later engine/trans?

 

[Nader]

...OR, find a High School shop class or area vocational school and work with them to store and do the restoration, learning process for the up and coming youngsters who may then start preserving others. Do not expect a one year process, get with instructor about years, timeframe and your expected parts purchases when needed.

Larry, I like this idea a lot, depending on what it would cost on my end. Like I mentioned, I had a Spitfire in highschool, and working on it (unsupervised) sparked my interest in British roadsters. Wouldn't be a bad thing to continue the cycle with another generation of kids if this car might inspire a similar interest. If nothing else, the cheap storage of it sounds attractive.

Thanks everyone for the replies, I appreciate it.

 

[healeyblue]

'59 would have been a side shift. The center shift didn't come on line until '61

 

[British_Recovery]

Nader,
Like healeyblue said, started in '61 with center shift and could be as late as '67. If you get the engine # , we can see if that's consistent with the car. Also any pictures of the engine compartment would help. Bob

 

[Nader]

Engine bay:

 

[57_BN4]

The question is are you in love with that particular car or would you rather just have a nice driving Healey? If the former then it'll cost you a bomb to fix up but will be far less painful than the regret of selling it. If the latter then sell it as quickly as you can. Money is easy to get, so is storage space whereas time is in short supply and regret lasts a lifetime. I fell in love and have no regrets. Andy.

 

[Randy Forbes]

I'd like to reflect on the BN4 being the most unloved Austin-Healey; sure, the original 100 models and the final MKIII versions will probably always bring the most money in a sale, but as those models get priced out the average buyer's budget__whoever that buyer will be__the value of the 100/6 will be dragged upwards too. At some point attaining desirability by virtue of being the only obtainable Healey, at least for some.

If you don't think so, compare the Ferrari 250 GT Pininfarina Coupe; at one point not considered worthy of restoring and only good for providing its parts to greater 250 comp cars. My, how times have changed!

I'll also add that I've never had either 100 or 3000/MKIII envy; for more than thirty-five (>35) years, I've appreciated my 100/6 (BN6L-942) for DMH's continued development of his formula, when adjusted by popular demand that he continue to produce a true two-seater.

 

[Nader]

The question is are you in love with that particular car or would you rather just have a nice driving Healey? If the former then it'll cost you a bomb to fix up but will be far less painful than the regret of selling it. If the latter then sell it as quickly as you can. Money is easy to get, so is storage space whereas time is in short supply and regret lasts a lifetime. I fell in love and have no regrets. Andy.

Not in love with this particular car, but I could fall for it if it would get me around the neighborhood. I wasn't looking for this car, I stumbled into it as the owner (my neighbor) didn't quite know what to do with the mess when he was clearing out his garage before moving. Ideally, I would have sought out a finished and modified (nasty) example a little later in life when the funds and space would allow it. But I couldn't turn down this project when it surfaced since he let me have it for so cheap. Because of it, I scrambled to find a lift for my one car garage so that I could store the heap before the fall rains started.

I'm okay with bodywork, paint, interior, electrics, and final assembly. I've done all that while building up my racer. The major things on the car I don't want to touch are the clutch job and frame repair. The right frame rail is bent just behind the front crossmember. What would those two repairs cost (clutch and frame)?

 

[British_Recovery]

Nader,
Clutch might come loose once the car is on the wheels as there are a few tricks to break it free. Even so, removing the gearbox is not difficult. As for the frame, as long as rust is not an issue, the metal is robust enough to bring it to a frame shop and have it pulled into position and welded where needed. Not a deal-breaker, in my opinion, especially if you are going to do the other things. Post a picture of the frame if you can.
bob