Preservation class v. Barn find class

[Legal Bill]

If you get Auto Week, there was a good article in the latest issue discussing the rise and popularity of the "Barn Find" class of collector car. Essentially, people find an old car in a barn, pull it out and leave it just like they found it. Old papers, mold and bubble gum in the interior, dents, rust and an inch of dust and bird crap on the paint, old parts in the trunk? They just leave it all there, take it to the auction as is and, remarkably, they might get as much for it in that condition as a nicely preserved original or a good restored example of the same car.

Now I understand the value of a preserved original. The fellow that just started the thread about his spruce green 100 has a nice example of a preserved vehicle and I get the value of such a car. But I don't get the high value of some of these true barn finds. Don't get me wrong, I'm not trying to tell anyone how to live their life. If that's the kind of car you want to collect, go ahead. But I don't get it.

The good news is, the preservation market combined with this barn find market may reduce the demand for restored cars. I would be pleased to get a nicely restored 100 for $25K while everyone else is paying $50K for preservation and barn find cars. I'm not proud. So even though I don't get it, I encourage all of you to sell your restored car in favor of a barn find.

Thank you.

 

[stuntflyr]

LOL! Love your final thoughts there, Bill.
Chris...

 

[DerekJ]

I'm not aware of any unrestored 'barn find' Healeys that sell for more than restored cars. Do you have any examples of this?

 

[Jeepster]

I'm not aware of any unrestored 'barn find' Healeys that sell for more than restored cars. Do you have any examples of this?

I've not seen this happen yet with Healeys but if you follow the UK auction results, there have been some mad prices paid recently for other "barn find" marques.
Last week a rough TR5 went for over £15k! https://www.tr-register.co.uk/forums/index.php?/topic/46580-latest-barn-find-tr5/

It must be down to the enjoyment of restoring a vehicle yourself rather than just buying a pre restored example. As the number of restorable machines reduce over time, this pushes the value up until there is no more value to a finished vehicle than one that requires thousands spent on it.
The classic bike world has been like this for some time as most of the "barn finds" are long gone.

 

[HealeyRick]

One good thing about living in New England - we have a lot of barns and thus a lot of "barn finds". In fact, my BJ7 was a barn find long before it became fashionable. The good thing about finding cars in barns is it's generally nice dry storage and since my Healey was taken off the streets to become a racecar after two years from new, it remained largely rust free ... a rarity around here. But for the most part, cars get pushed into barns when they are used up and worn out and I don't get paying a premium for them either, Maybe it's the promise of unlimited possibilities that clouds buyers minds. I remember seeing the SAAB shown below on "Chasing Classic Cars" It didn't run and the floors were rusted out, but Wayne couldn't wait to drag it out and enter it in the Fairfield Concours "Barnfind Class"

 

[HEALEYJAG]

I always thought cars were made to be DRIVEN...

So I don't understand barn finds either...most cars advertised as "preservation" are really just old cars with older repaints in bad condition...

 

[Legal Bill]

I'm not aware of any unrestored 'barn find' Healeys that sell for more than restored cars. Do you have any examples of this?

Off the top of my head, I'd say the LeMans car fit the condition of a barn find, but it had unprecedented historic value as well. https://www.autoblog.com/2011/12/01/infamous-le-mans-1955-austin-healey-100s-prototype-sold-for-1-3/
I see no reason why a Healey barn find would be treated any diffferently that any other production classic.

 

[DerekJ]

NOJ 393 was bought for restoration and wasn't really a barn find. People had been trying to buy it for about 25 years. Plus it was bought to restor It's now in concours condition looking exactly as it did on the startling in 1955, and its value has gone up accordingly.

 

[DerekJ]

Oops...that should have said...on the starting line...

 

[Legal Bill]

Derek, I don't understand what point you are trying to make.

The whereabouts of the LeMans car may have been known, but its condition was no better than "barn find," except it wasn't too dusty. Why are prior offers relevant to designating a car a barn find? I imagine that barn finds are often the subject of numerous offers before the owner finally sells. I know of no rule that the car must be previously undiscovered in order to qualify as a barn find. As for the LeMans car's restoration after purchase, I'm sure that is true of any number of barn find cars that are now sold at auction. What difference does the buyers intention make?

You seem to be searching for distinctions that would except Healeys from the barn find class. I don't understand why.

 

[DerekJ]

Maybe I don't understand the original point of the post. I realise barn find cars can be expensive and that 'barn find' is now simply a marketing term. However the original post appears to say that some barn find condition cars can be worth more than restored cars. I am not aware of that being the case with Austin Healeys and the case of NOJ 393 proves my point. It is worth more now, properly restored than it was in barn find condition. I am not aware of a barn find Austin Healey that is worth more than a nicely restored example of the same model, but I'm happy to be proved wrong.

 

[Cooperman]

Interesting thread - and for what it's worth i think the barn find "thing" for me is all about finding a car that has been there and done it and looks like it's been there and done it too. Its not a cobbled together collection of reproduction parts that never even existed in the 1950s and 60s........ oh, and most don't fit properly either.....
For that very reason i was lucky enough to find a 3000 that has not been on the road since 1971 and believe it or not was actually kept in a dilapidated barn for all those years. Yes it looks a bit scruffy but to me is a part of social history and feels old. Any part that will clean up and be serviceable is going straight back on the car with the same old nuts and bolts......

And best of all its a cheap way to get an interesting classic back on the road, and you don't have to worry about chipping the paintwork in the process.

And on the note of high prices paid for "Barn Finds" what about the 1959 Mk1 mini sold at Bonham for £40K....https://www.bonhams.com/auctions/20141/lot/307/
Yes it was a very early car but £40K will get you the best of the best Cooper S. The amazing thing is that there was someone else prepared to pay £39K bidding it up. Every one to their own, as we say here!

 

[healeyblue]

I think the marketing idea behind "barn find" class at auctions it to be able to bring the buyer into the hunt for a hidden gem. It may not end up as a gem but the hope is there. I agree that a "barn find" will never be worth more than a restored car. The notion that "barn finds" are worth more, I think, is meant that they are worth more if left as found (old food wrappers and rusty parts in the trunk) then if they are taken back to the shop washed and polished before auctioned off. Honestly, it is easier and the dust and grime actually hide more sins that way anyways. I am not sure I would want to buy one that way, but I can see the appeal to the seller to leave it as found.
Jim

 

[Legal Bill]

Interesting thread - and for what it's worth i think the barn find "thing" for me is all about finding a car that has been there and done it and looks like it's been there and done it too. Its not a cobbled together collection of reproduction parts that never even existed in the 1950s and 60s........ oh, and most don't fit properly either.....
For that very reason i was lucky enough to find a 3000 that has not been on the road since 1971 and believe it or not was actually kept in a dilapidated barn for all those years. Yes it looks a bit scruffy but to me is a part of social history and feels old. Any part that will clean up and be serviceable is going straight back on the car with the same old nuts and bolts......

And best of all its a cheap way to get an interesting classic back on the road, and you don't have to worry about chipping the paintwork in the process.

And on the note of high prices paid for "Barn Finds" what about the 1959 Mk1 mini sold at Bonham for £40K....https://www.bonhams.com/auctions/20141/lot/307/
Yes it was a very early car but £40K will get you the best of the best Cooper S. The amazing thing is that there was someone else prepared to pay £39K bidding it up. Every one to their own, as we say here!

Excellent example. Thanks for sharing that.

 

[Legal Bill]

Maybe I don't understand the original point of the post. I realise barn find cars can be expensive and that 'barn find' is now simply a marketing term. However the original post appears to say that some barn find condition cars can be worth more than restored cars. I am not aware of that being the case with Austin Healeys and the case of NOJ 393 proves my point. It is worth more now, properly restored than it was in barn find condition. I am not aware of a barn find Austin Healey that is worth more than a nicely restored example of the same model, but I'm happy to be proved wrong.

If that is your point, I hope you can understand my confusion. My original post never said the barn finds go for more than restored cars. I'm sorry if it seemed that way to you. My original post said that some are bringing as much as the preservation class cars or even a nice restored example.