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Low entry cost into AH ownership?

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shortsguy1

Jedi Hopeful
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Normally when I see a craigslist or ebay ad for a rusted out Healey, they asking price is $10K-$15K (so I don't bother posting it here). But this one I just saw (see link below) seems like a somewhat reasonably fair price for a rusty shell ($1500). It has no engine and is in terrible shape, but for someone looking for a big project, this might be a place to start. Given its rust, I guess you are buying a VIN, so maybe it isn't such a great deal. Anyway, the ad is on the Dallas CL site and was posted yesterday so the car is probably still available.

https://dallas.craigslist.org/ndf/cto/5489677023.html

(I am not affiliated with the seller at all).
 
Those wheels, hood louvers and transmission tunnel cutout look like classic Nasty Boy mods to me. Would be a good base for an "alternative driveline project" if the frame is good and you're the kind of person that doesn't want to "butcher" a good car. But there's no such thing as a "cheap Healey" . If you don't pay it on the front end, you pay it in the back end.
 
shortsguy1 said:
Normally when I see a craigslist or ebay ad for a rusted out Healey, they asking price is $10K-$15K (so I don't bother posting it here). But this one I just saw (see link below) seems like a somewhat reasonably fair price for a rusty shell ($1500). It has no engine and is in terrible shape, but for someone looking for a big project, this might be a place to start. Given its rust, I guess you are buying a VIN, so maybe it isn't such a great deal. Anyway, the ad is on the Dallas CL site and was posted yesterday so the car is probably still available.

https://dallas.craigslist.org/ndf/cto/5489677023.html

(I am not affiliated with the seller at all).
Click to expand...

I think the expression goes something like this ....." Pay me now or pay me later "

Theres no such thing as a cheap Healey ...........if there was then every MG owner would have one:welcoming::welcoming::eagerness:
 
I have been watching for a 6 cylinder healey that needs an engine. I have two extra engines! Instead, I have found one of those projects that might go for 10-15K. It has to go through probate before it is officially for sale. Sometime this month and then we shall see what they do with the car. Even at $15K, I worry about the value. It is a 1960 3000, basically still original, although it has been poorly painted. They paint is shot and pealing. The rest has a light coat of rust, but no frame damage that I can see.

Jerry
 
Healey Nut said:
I think the expression goes something like this ....." Pay me now or pay me later "

Theres no such thing as a cheap Healey ...........if there was then every MG owner would have one:welcoming::welcoming::eagerness:
Click to expand...

The old adage about Mercedes, Porsche, Ferrari now somewhat includes Healeys as well:

"If you can't afford one of the more expensive Mercedes, you REALLY can't afford one of the cheap ones..."
 
Those rusty hulks are a bad investment in my book. No mater what level of perfection you bring it to, from scrappy driver to trailer queen, it will always be (a lot) more expensive than the already done alternative. Of course, for some, there is the joy in doing the work, which is hard to place a value on.
 
Nevets:
Are the economics that you describe well established fact? I am new to these cars and am still figuring things out. I am amazed how many "just completed" restorations are for sale at auctions. My impression is that the person who did or paid for the restoration must be making $, or why would they bother? I am having trouble wording my question and I don't mean to sound argumentative. I am just curious about why it is so common to sell a car soon after restoration. Thanks.
 
Well :
shortsguy1

1 They may have gone broke!.
Because the economics that you referred to are well established facts.

2 That is when it will look it's best

The rule to the NEWBIE buyer is :
Buy the best car you can afford restoration is a costly business
 
shortsguy1 said:
.. I am amazed how many "just completed" restorations are for sale at auctions. ...
Click to expand...

Take these 'restorations' with a grain of salt the size of an overdrive. AFAIK, there is no standard definition for the term 'restoration,' like there is for condition; i.e. #1 car, #2 car, etc. Some advertise a bucket of body filler and a paint job as a 'restoration,' while thorough restorations are usually advertised as 'frame off, nut and bolt' (be skeptical of those claims, too). These days, the cars commanding the highest prices are the so-called 'survivors,' usually (relatively) low-mileage cars in rough but completely original condition (hence suitable for a relatively easy restoration).

Note also that the professional 'restorers' have the resources to scour the world looking for bargains, and can often low-ball sellers that need to dispose of the car for cash in a hurry, making it easier for them to turn a profit. If you've watched any of the jillion shows on the Velocity channel you'll note that these 'flippers' only do what's necessary to get the car running, and they usually slap a (sometimes gaudy) paint job on the car.
 
And then there's some of us who after we finish it are afraid to drive it because we don't want to scratch it up plus like doing the work. I have an E type and 250 with very few miles.
Marv
 
Keoke said:
Well :
shortsguy1

1 They may have gone broke!.
Because the economics that you referred to are well established facts.

2 That is when it will look it's best

The rule to the NEWBIE buyer is :
Buy the best car you can afford restoration is a costly business
Click to expand...


And I would say there s a #3, Know what it is you're looking at. Talk to current owners and learn what you can about how details should look. Where did the factory install reinforcing and where not for example so if you see what might look like a you'll know if it is supposed to be there or not.
 
My Dad bought me my BJ7 over 40 years ago. I was slightly younger. My now adult son grew up with the car. My family is emotionally attached to the rusty little guy. That is the only reason that I'll end up putting maybe close to $50k into a car that might be worth that much some day. That's with me doing plenty of the work. OMG I hope that my wife doesn't see this post! My car is complete. Nothing missing. My car is already gorgeous; new frame, paint, engine, gearbox, OD, etc.... It might possibly win 1st place at many car shows...but it's not even close to Concours. Though, it would take a Healey person to see that it's not perfect.

Restoration means different things to different people. No body ever did a full restore to anywhere near Concours on a cheap car and made a profit.

Emotion or the love of the work would be the only reasons that I can think of to jump into a full restore.

Just my opinions based on my own personal, limited experience.

Dale
 
My BJ8 came to me from a friend. The price was below $1k, couldnt say no and it was all there. It does need a total restoration and I know what the cost of restoration will cost me. In the end I will know everything about the car and feel confident in driving it anywhere anytime, which is priceless. The goal is to spend my retirement ( time not money) driving the wheels off of it.
 
If what one wants is a Healey in good condition to drive, for a reasonable price, buy someone else's restored car. Restoring a car properly usually is very expensive. Survivors in decent condition are few and far between.

Restoring a car can be an enjoyable activity, much like going fishing or going on a holiday. Restoration projects can be a fun. Every part of the project is a challenge, and one feels a sense of accomplishment after figuring out how all these obsolete British parts work and fit together. At the end of the project, one hopefully will have a beautiful and driveable work of art.

Like most people, I hate rust. Healeys do seem to attract rust, but some have survived much better than others. From what I have seen, many (or most) of the relatively inexpensive project cars out there might be better thought of as parts cars. By the time one takes a rusty hulk and rebuilds it from the bottom up, this no longer is an inexpensive car. An endless list of parts on most unrestored cars - even the better ones - are not in good enough condition to reuse or refurbish. When buying parts for a restoration, one needs to think in terms of tens of thousands of dollars, and often quite a few of those tens of thousands.

Many who set out on a restoration do not finish it. They lose interest, run out of money, or develop health problems. Others started both of the two Healey projects that I am currently working on. And I have had a few other incomplete projects offered to me over the past few years. Picking up someone else's project, providing that they started with a solid car and did good quality work, is another way to become a Healey owner.
 
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