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$60,000 BJ8

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Well let's see. I understand Mr. Tanner buys only top notch Gold Concourse cars so were looking at an initial investment of say $28,000 (conservatively), then he completely dimantles the car and rebuilds to his very high standards, maybe at a cost of say $25,000 then he pays Barrett Jackson to submit the car on prime time approx. $1200, then he pays a seller fee of 8% (the buyer also pays a buyer fee of 8%) so I guess he has to sell at $58,536 to just break even. All figures were done by longhand please excuse if incorrect.

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I don't see how Kurt Tanner could start with a concours level car or anything even approaching it. The above math is flawed. For a BJ8, he would have to pay at least $40k (and that would be a good deal)for a near show-quality car, not $28k.
$28k would buy a decent driver, that's it. I sincerely doubt that Mr.Tanner is getting rich selling these cars at auction. Rather, he is building a name for himself that then puts him into that rarified level of "Master Restorer", which means he can do other people's cars for big money and fame. I suspect there's a big PR component to the Tanner cars. I do not believe that they represent the pinnacle of Austin Healey ownership but rather the exclusive domain of museums and serious car collections. I've seen one up close and in my opinion it was totally over restored. Donald Healey could only dream about the fit and finish that he attains.
Randy '66 BJ8, '68 E-Type OTS
 
No, he doesn't start with concours gold cars, at least not in this case:

https://www.barrett-jackson.com/events/scottsdale/vehicles/cardetail_list.asp?id=178684

Interesting to note that there are at least a few 'non-concours' items visible in the photos (monza exhaust, highly polished dashpots)

I also don't think his cars are 'loss leaders' for his restoration business. You may be right but I haven't seen him advertise for restoration business which leads me to think he does just fine restoring a number of Healeys each year for auction. Restoring these cars can be expensive, especially if you are paying someone else to do it but if you are doing all or most of the work in-house your costs go down considerably. You also have to consider that doing a number of cars at the same time is more efficient and you get better and better with the process and expertise with the marque.
At least this way he can build the cars the way he wants and doesn't need to deal with the customer during the process. As long as he continues to get top dollar I bet he will continue to concentrate on the auction market.

Cheers,
John
 
To me a restoration means to restor to the original factory condition and not beyond. I want to DRIVE my Healey. Looking for gratification from on-lookers seems like asking for validation for spending all that money. It cannot replace the fun, thrills, smells, and sounds of driving, in my opinion. But we do need these super "restorers" to help keep up interest and tease the next generation of buyers.
 
Paul Russell runs a fab operation

They are located not far from me (in Essex MA)in a very non descript industrial park. I went there to look at a TR4 thy had for sale. It turned out to be a pretty scruffy example, and I think they had purchased it sight unseen, and wanted to get rid of it. The rest of the cars there were simply stunning - a number of 50's & 60's Porsche's and Merc's, an Aston DB4, and a Bugatti Coupe (insured for $14 million) were just a couple. My jaw was dragging on the ground the entire time I was there. I didn't buy the TR (it looked even sadder when parked next to the other cars there) but consider the day to be one of the best spent! Do yourself a favor, and find an excuse to visit them if you are ever in the area.
 
Re: Kurt Tanner Restorations

There is a very good article about restoring big Healeys and Kurt Tanner in the October, 2004 Sports Car Market magazine. He restores four at a time. He also tries to buy roadsters under $8K and BJ8's in the $10K-$12K range if the cars are "pretty solid". Personally, I think it would be difficult to find many solid Healeys at those prices. He is primarily concerned with the chasis, superstructure, front, and rear shouds. Certainly these do not start our as concours quality cars at those prices, but undoubtably end up as exceptional cars. In the article he states, "the most daunting part of the restoration is getting those body panels back on the car to where they should be", which most of us can attest to as well.
 
Re: Paul Russell runs a fab operation

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The rest of the cars there were simply stunning - a number of 50's & 60's Porsche's and Merc's, an Aston DB4, and a Bugatti Coupe (insured for $14 million) were just a couple. My jaw was dragging on the ground the entire time I was there.

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In fact, I'm trying to set up an Austin-Healey Club of America, Northeast Region tour of the Paul Russell shop for later this year. They do a lot of work for Ralph Lauren, including some of his Pebble Beach winners. Some will be displayed at the Museum of Fine Art in Boston opening in March. Go here for that info: https://www.mfa.org I'll post further info once we get a date set.

Happy Healeying,
Rick
 
Re: Paul Russell runs a fab operation

I Don't know what Paul Russel has to do with Tanner restorations. But the secret behind Kurt Tanners Magnificent cars is-Steve Tanner Kurt's Father who does all the Metal work and paint on the cars. I think Kurt does final assy and detailing as well as the marketing.---FWIW---Keoke--PS He isn't hurting for work.
 
Re: Kurt Tanner Restorations

Shorn, I think the purchase price range you submitted is about right. But, what ever is wrong with the car purchased for restoration Steve Tannner can put it right.---Keoke
 
Re: Paul Russell runs a fab operation

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In fact, I'm trying to set up an Austin-Healey Club of America, Northeast Region tour of the Paul Russell shop for later this year.

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Hey Rick,
If you do manage to set something up, could I tag along? I know I don't drive a Healy, but does the Triumph get me in?
Rob.
 
Judging by the hours and precision Paul Russell and Co. put into their cars, I suspect their is not too much profit let over after the owner includes any time he put into the car.

Make an offer of 55K and see what happens, better yet, go see it and offer even less, just be polite.
 
DQ, are you trying to tell me something?----Keoke /ubbthreads/images/graemlins/laugh.gif
 
Re: Paul Russell runs a fab operation

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In fact, I'm trying to set up an Austin-Healey Club of America, Northeast Region tour of the Paul Russell shop for later this year.

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Hey Rick,
If you do manage to set something up, could I tag along? I know I don't drive a Healy, but does the Triumph get me in?
Rob.

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Rob,

I suppose if you were willing to wash and wax all our Healeys and promise to keep your Triumph out of sight, we could work something out /ubbthreads/images/graemlins/rolleyes.gif Kidding aside, if I'm able to work it out, I'll let you know.

Rick
 
Re: Paul Russell runs a fab operation

Rick:

There's a lot I'd be willing to do to get into Paul Russell's place, and waxing and polishing the Healeys is one thing, but hiding the Triumph -- well I'd have to think about that one! Please do let me know.

BTW, I am sure you are aware of this, but the Boston MFA will be exhibiting some of the Ralph Lauren cars this summer including the Bugatti Atlantic by Paul Russell.

https://www.mfa.org/exhibitions/cars/default.html

Rob.
 
Speaking from experience, it's easy to put over $100,000 into a nuts and bolt resto of an AH, particularly if you start with a car in rough shape and rebuild every single component. I understand that Tanner only rebuilds what he has to (e.g., engine top end, not complete engine rebuild, etc.). What you get for that kind of investment is a new car better than what came from the factory.
As for Barrett Jackson sales, most of the bidders have more money than time and $100k or so is just chump change. If they see a car they want, they bid regardless of the price.
 
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Speaking from experience, it's easy to put over $100,000 into a nuts and bolt resto of an AH, particularly if you start with a car in rough shape and rebuild every single component.

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I couldn't agree with you any more...I have over $60K in my car...and it's great but far from perfect...and still needs thousands more to get it to the next level...it's not concourse level yet...which I intend one day to be at...oh...as a drive too...not a show car...yes as hard as it might seem to understand...I want a concourse car that I "drive'!!!!
 
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