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Thread: BT7 Restoration value advice

Forum to discuss Austin Healey Sports Cars

  1. #21
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    Re: BT7 Restoration value advice

    Quote Originally Posted by Johnny View Post
    Ok I'm sorry but I'll tell you my opinion. Not knowing your skill level, I'm going to guess it's minimal. If you want to just fllip the car do it now. A poorly done restoration will just de-value the car even more than it already is; meaning BT7 are not the most desirable Healeys, plus the new owner will most likely have to do all your work over!

    The only exception would be if you plan on highly modifying the car including perhaps adding a V8 motor etc. etc. Then having your fun with the car then sell it, with all the original parts given to the buyer. You'll be happier in the long run and so will all of us "enthusiast's".
    I will be under 20k with a very nice restoration

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    Re: BT7 Restoration value advice

    Quote Originally Posted by tahoe healey View Post
    It sounds like you are already in over your resale price. I think you should just keep it and enjoy driving it. When I bought my BJ8, I looked for the most original car in the best condition that I could find. I paid a lot not have to redo someone else's idea of the perfect "improved" car. Even then, I found the PO did not maintain it properly and I began a rolling restoration (over 10 years now). I agree with Olin, if you aren't going to love it then sell it to someone who will love it and will not mind spending another 40K because he does love it. Interestingly, untouched cars have vastly increased in value because there are fewer and fewer of them each day. So, I vote for "love it or leave it".
    How am I over the reslae value? I have 5k in the car?

  3. #23
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    Re: BT7 Restoration value advice

    Quote Originally Posted by 57_BN4 View Post
    Here is a very approximate breakdown of costs on my BN4 restoration
    10k chassis
    10k interior
    10k panelwork
    10k paint
    10k mechanical
    10k tools and workshop equipment etc
    20k initial purchase price
    $0 eight years of my life spent in the garage

    One of the points of doing this is to get myself out of the idea that money is important. It isn't. Any car done to a budget will be compromised and the more severe the budget, the more severely compromised the vehicle will be. Restoring a wreck for 20k will be very unrewarding and potentially dangerous depending on the extent of corrosion in the chassis and how it is repaired. Ten bucks says you will have tipped more than 40k into it five years from now, either that or it is in the too hard basket.

    Andy.
    Car was free - save 20k
    I have the tools - save 10k
    I've done/am doing all the panel work and chasis so - save 18k
    I have a friend who is a top engine guy - save 8k
    I have a friend who is a top painter and I've done all the prep - Save 6k

    Looks like i will make out just fine on the car

    I will let you know where to send the $10

    (P.s. - You spent 30k on your panel work, chasis and paint??? Good for the body guys, their kids will have a nice Christmas)
    Last edited by NJHealy3000; 12-22-2012 at 10:51 AM.

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    Re: BT7 Restoration value advice

    Quote Originally Posted by drambuie View Post
    Yep.... I agree with dougie, build a nice looking fun racer out of it that you can also drive on the street. After my move is over, I plan on building a bn4 racer with all the high performance goodies... I used to race motorcycles, flat track, TT racing and moto cross.. Due to my age now, I want to move into vintage racing, and also have a racer to drive on the street. I love my all original 1967 BJ8.... but its time to shift gears and have some fun racing! I have many ideas i want to incorperate into a Healey that will make it a much better car on the track and street. Personaly, I put much value on a well built sharp looking Healey racer.
    I'd love too but I need to part with the healey and focus on some other projects.

  5. #25
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    Re: BT7 Restoration value advice

    NJ

    I think you're doing just fine. If you've got under 10k in the car, and you obviously have some talent (not to mention just plain "stubborn enough" to get the job done), and have lined up the painter, etc - you're way ahead of the game, and a credit to DIY restoration. It's fine to just leave your vehicle with a professional, along with a blank cheque - it's a whole other level of commitment to take a basket case and, like Frankenstein, give it life. Hey, any saved Healey is a Healey worth owning.

    At the end of the ordeal you'll be able to say you did it yourself, and you'll have a few memories and scars to last a lifetime. Keep us posted.

    Cheers
    DB

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    Re: BT7 Restoration value advice

    I started a build thread to show my steps and progress, check it out.

  7. #27
    57_BN4
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    Re: BT7 Restoration value advice

    Quote Originally Posted by NJHealy3000 View Post

    I will let you know where to send the $10
    You have some very good friends there to do all that work for free but I still think you have underestimated the cost. For example, my engine was "fully reconditioned" before I got the car but I still had the crank assembly balanced, fitted new bearings, gapless rings, new valves and guides, Teflon guide seals, reprofiled cam, block and head machining etc. Then the gearbox needed new synchro cones, all bearings, new layshaft, repaired laygear, gaskets etc. Diff likewise, then re-sleeved brake cylinders, re-lined shoes, new hoses and pipes and so on. It adds up real fast. The majority of my expenses are in parts with only the bodywork and paint plus engine machining being farmed out.

    Presumably you are going to overhaul the brakes, steering and suspension, replace the wiring, repair/replace the electrical equipment, redo the interior and top, fit new tires, rechrome the brightwork, replace the rubber trim and exhaust system plus any random missing parts you discover along the way. Not sure if you have heard of the "pi rule" which states that the actual cost/time is about 3.14 times your best guess- it is a reasonably well tested theory.

    If by some miracle you have achieved a completed car worthy of the term 'rotisserie restoration' for under 20k then I'd happily part with ten dollars.

    Either way I admire your enthusiasm and it is great to see another LBC coming back to life.

    Andy.

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    Re: BT7 Restoration value advice

    Quote Originally Posted by Healey_Z View Post
    Just my opinion. There is more room for creative interpretation on your BT7 for a few reasons. It is not a super collectible model and is rebuilt from a rusty shell. I would go the route of being different and have your car stand out. I found this BT7 to be one of the most stunning big Healeys that I have ever seen, wearing non-original colors. and it brought $71k.
    I agree completely. In most cases I recommend going with original colors as the safest route to bringing the highest price, but there are a few exceptions. Since there are so many BT7s, and since they are not among the most sought-after models, you will need something to set it apart from the pack if you're going to attract a premium price.

    Aston Martin green is a great choice, but I have been waiting for someone to present a big Healey in two-tone of coral (or maybe a Salmon color if coral is too pink for you) for the main color and a creamy white on the insets/sides. I think it would be stunning. I would not paint a 100M or BJ8 that way, but a BT7 or 100-Six? Absolutely.
    Reid Trummel
    Editor, HEALEY MARQUE magazine

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    Re: BT7 Restoration value advice

    Quote Originally Posted by 57_BN4 View Post
    You have some very good friends there to do all that work for free but I still think you have underestimated the cost. For example, my engine was "fully reconditioned" before I got the car but I still had the crank assembly balanced, fitted new bearings, gapless rings, new valves and guides, Teflon guide seals, reprofiled cam, block and head machining etc. Then the gearbox needed new synchro cones, all bearings, new layshaft, repaired laygear, gaskets etc. Diff likewise, then re-sleeved brake cylinders, re-lined shoes, new hoses and pipes and so on. It adds up real fast. The majority of my expenses are in parts with only the bodywork and paint plus engine machining being farmed out.

    Presumably you are going to overhaul the brakes, steering and suspension, replace the wiring, repair/replace the electrical equipment, redo the interior and top, fit new tires, rechrome the brightwork, replace the rubber trim and exhaust system plus any random missing parts you discover along the way. Not sure if you have heard of the "pi rule" which states that the actual cost/time is about 3.14 times your best guess- it is a reasonably well tested theory.

    If by some miracle you have achieved a completed car worthy of the term 'rotisserie restoration' for under 20k then I'd happily part with ten dollars.

    Either way I admire your enthusiasm and it is great to see another LBC coming back to life.

    Andy.
    There will be some added costs, but people tend to farm out to much and with a little creativity and elbow grease you can save a lot of money.

    I've been apart of several high dollar restorations and understand how to save money in the right areas and it helps that the car has low miles and the engine looks good so far.

    Sorry to hear that your restoration cost so much. But I'm sure that mine will be $10 less then I'm bugeting after i recieve your check.

  10. #30
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    Re: BT7 Restoration value advice

    Sorry, I thought you stated you were thinking 15K plus extras (post on 12/18/12). That would put you into it at about what you could get for it. I may have misunderstood.

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    Re: BT7 Restoration value advice

    Hey I'll throw in my 2 cents ! I must be doing something wrong if you'll only have 20 grand in yours when completely restored. You are getting some good advice from other members about costs involved that you seem to ignore. Quality parts and ( paint, sandpaper, thinners, cleaners, sand, primer, primer surfacer, heat , lights, hardware, shipping and handling, chrome, interior , etc.) will cost 30 grand if the job is complete , professional and proper. I'm not a big fan of repairing a rusted out Healey chassis , you'll build value in the car by replacing it either with a Jule or Kilmartin or SC. I don't care how good of a bodyman you are ( I'm pretty capable myself) fixing your chassis frame is a fool's folly. If its rusty , scaly inside its junk and not repairable. Kevin Brinkerhoff

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    Re: BT7 Restoration value advice

    Brinker, thanks for the advice. I do have some great friends that owe me favors. Again the body was a nightmare of rust, dents, and welding/grinding but I was able to do all of it for under $800 and have a great painter who is again hooking me up for a sub $1,500 price on a show car paint job. My best friend owns a plating shop so Whether I go chrome or bright nickel, all that is covered (including polishing) The car was 95% complete. I've found some great people on here and online that i've been able to score over 30 replacement parts about $350. I own a media blaster and booth, powder coating gun, ovens and all the tools i've needed. I got an amazing deal on a rotisserie that, if i decide to sell I will actually make make a profit.

    The engine is yet to be determined but i have a good friend with a top engine/performance shop, so the work i will need to get down will be at a great price. Car had 40k original miles on it when it was parked.

    Once I decide the direction to go I will have a better idea of other costs, but with a hopeful resale of 35k-55k, even the low number has me positive of not losing money. I do not have a need to sell the car, I need to see how much I enjoy driving the car, the amoutn of time and $ it will take to maintain and keep it running and see if i would be better to keep the car or to sell it and find a different project that i would enjoy more. A lot of question marks but again, no hurry or financial need to sell.

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    Re: BT7 Restoration value advice

    So i have decided to keep the car and to go with a custom, period correct(ish) racer. I will keep all original parts in case I need/decide to sell in the future. With the triple carbs, what is a good upgrade for performance? Also can anyone recommend a good upgraded fuel pump and front brakes?

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