So what does a restoration really cost these days?

[Fairview]

Thanks you guys. This is a great reality check. Can anybody speak to the cost of chrome work? I had heard some astronomical figures recently in connection with a 30's American car. And what does a full engine rebuild cost? Back a couple decades ago costs were about $500 per cylinder on average for parts and labor.
Jeff

 

[BryanC]

I think the decision depends a lot on what you really want. If this is about money, buy the best you can afford and drive it. I agree with the other estimates of getting 50 to 75% of your expenses back on work you do. But, if you really want a project because you like to work on stuff (like me) then get a project car and consider it an entertainment expense.

Bryan

 

[bowtie6]

Depends what you want to get out of the process...

Buy a car already restored: you get somebody else's nightmare. Somewhere there is something that is not 100% and that will end up costing more money.

Build your own: sure it takes time, effort and resources but at the end of the day you will end up a better person from all the knowledge you will have acquired. I don't mean this as a joke, rather I speak from experience.

Some things you cannot put a price on. At the end of the day, you drive a machine you have built yourself and sorry guys, but that is priceless in my book.

As always, your mileage may vary...

joe

 

[Popeye]

I am in the starting phase of my resto. Purchase 4300. Parts 7000 (this figure from the Moss catalog - I will get some discount through smart shopping). Supplies 700. Tools 1500. Total = 13500. Plus reality = 13-15k. My car ran when I bought it, and only has a little rust: two new floors and maybe two sheet metal repairs.

I will use my own labor... thus why I am doing it! I plan it will take 5 years, meaning 3k / year.

I figure, if I smoked a pack a day, I would spend 365*5 = 1.5k on cigarettes. If I went out for lunch every day, I would spend another 1.5k. So I figure my car is worth a healthy lung and gut! /bcforum/images/%%GRAEMLIN_URL%%/smile.gif

 

[drooartz]

As noted above, it's certainly more cost effective to buy a car that is already at the level where you want it -- assuming you can figure out if the car is as advertised (see Tinster and Pedro for that little buggaboo /bcforum/images/%%GRAEMLIN_URL%%/grin.gif ). I do like the pay-as-you-go nature of a refurbishment, as long as you can handle the costs. Saving up your money and just buying a good car probably takes the same amount of time, and costs less.

The car I bought was an unmolested, mostly original (other than paint), and complete running car with nearly no rust. I had it inspected by a fellow forum member, someone with a lot of professional experience restoring cars. It was exactly as advertised. It was also in no way a "project" car, and was priced accordingly.

Can't speak to chrome, but I was quoted roughly $3500 for a fairly stock rebuild (4-cylinder) -- this was for a reputable builder to do all the work. The more you can do yourself, the less you can spend. The faster you want to go, the more you can spend...

My friend estimated $10k - $15k above the $7k purchase price to get it all sorted and refurbished (to a very good driver level), and once I tackle the body work I'll be right at the upper end of that range. 50 cents on the dollar if I ever sell it. For me, it was worth it to know that the work done was done right.

 

[2wrench]

I say buy a nicely restored car; drive it and enjoy it.
Think it's cheaper; easier and seems more fun.

But then, you wouldn't hang out round the Forum so
much, and you'd be missing out.

 

[tdskip]

Someone once told me either buy the best or the worst. I kind of chose the later and have been getting them sorted out as I go as I learned how to handle welding and more advanced wrenching.

I had no idea what I was really getting into, and of course am now in way over my head. But I'm still well under the cost of a restored car...

Beaters rule!

 

[Brosky]

Re: So what does a restoration really cost these d

Jeff,

Welcome to the forum. Think about this BEFORE you buy anything. The Vintage Triumph Register and 6-Pack have a "surrogate buyer" network that will help an individual by looking at a car with or for them to access it's value and condition. There is no charge for this.

Many local clubs will do the same and nearly all have web sites. Many members of this forum will help you and even look with you when you find what you want. They are usually very happy to help.

Now for some costs. I just looked at a bill for the cylinder head that I had done in the fall. It was over $700. I refuse to look any further in that drawer full of invoices.

I'm looking at rebuilding a complete engine and if I go all the way it will be over $6000. I've decided that it's not what I want to do, so I'll do the block up really well, use my rebuilt head from the fall and sell off the other head.

The prices can begin to creep upwardly rather quickly as we all try to "do everything right".

Hook up with someone from here or a local club or the VTR / 6-Pack network and save some headaches right from the start.

If you want to see how deep you can get, look at some of the projects on my web site under my signature below.

 

[hilsideser]

...what poolboy said... /bcforum/images/%%GRAEMLIN_URL%%/lol.gif

 

[Opa]

...for every part there is m/c and visa

...the enjoyment of the hobby......priceless!!!

/bcforum/images/%%GRAEMLIN_URL%%/cheers.gif

 

[Bob Claffie]

Re: So what does a restoration really cost these d

The secret of restoring an automobile is selecting the "right" car in the first place. When I do a refresh/rebuild/restoration I keep very accurate records of what goes where so I never get ugly surprises when it comes time to sell. I do most of the work myself so I avoid the $85 per hour expenses and I figure my labor at $.10 an hour. I mean it IS a hobby for goodness sake. I have NEVER lost any money selling a "hobby" car, as opposed to daily drivers. My goal is to create "nice" drivers, not concurs, not trailer queens. When I ultimately get bored with a car and sell it I usually recover all expenses including registration, insurance fuel, etc. The cars that this formula has applied to include: 2 1966 Mustangs, 1964 Buick Riviera, 2 70ish MGB's, 1965 Alpine. Current projects incl a big Healey and a Cobra replica and they will no doubt accomplish the same results.
If there is a car that you absolutely MUST tackle then the above system goes right out the window. To be monetarily successful the head must override the heart. Bob

 

[prb51]

Re: So what does a restoration really cost these d

I purchased an older restoration that was still in great shape but would still need 'freshening' (rubber suspension etc, seals). I went this route because the bodywork was done properly (pictures and receipts) and that's where all of the real money and time go unless you are a welder/bodyworker/painter.
I agree that a concours deal will often return .30 on the dollar. A friend professionally restores Mercedes 190sl's and an average ground up will run 150k (not including the original cost of the car). You might get 65k on the market if it is top end.
Actually LBC's are a great hobby car as parts are plentiful and reasonably cheap.
By the 'most' car you can afford after inspection and verification of condition.

 

[kodanja]

Re: So what does a restoration really cost these d

lets see I have a car worth about 12k that I paid 20k for, but I'll let ya know when I'm done..................

 

[DougF]

Re: So what does a restoration really cost these d

A gentleman in our club once commented, "I ought to give the car and $2,500 away and remain ahead of the game".

 

[TexasKnucklehead]

Re: So what does a restoration really cost these d

I bought a TR6 off ebay for $7,600. It looked pretty good, and had been sitting for some time and needed much attention. I've spent at least $3k on it since then and have enjoyed driving it when weather permits. My longest drive was a two day ride from Houston to Pennsylvania for a weekend visit, then back. This car is not 'restored', or a show car, but it was a hobby for someone before me.

Driving around in a 30+ year old car is worth a every penny and hour I've spent with it. Working on it is part of the fun.

I was given a TR3 for free. It's not completly apart, but the body is off the frame. I've been gathering missing parts (used) for it and have already spent over $10k on it. It will never be a show car, but I hope it will be a nice looking driver.

I could have purchased a nice TR3 for $10k but it would not be as much fun to drive.

 

[Tinster]

Re: So what does a restoration really cost these d

Experience seems to indicate :

Lucky- you spend 100% of purchase price in repairs
Average- you spend 200& of purchase price in repairs
Scammed- You spend 300% of purchase price in repairs
Pedro-ized- You spend 400% of purchase price in repairs.

Add a decent paint job and moderate engine/tranny rebuilding
and you can easily top out $70,000. for a daily driver.
But they are run to putt around town.

 

[cmacmillan]

Re: So what does a restoration really cost these d

Well, for me, I plan on doing everything possible on the car and if something's too difficult, I'll read and ask questions until I can do it - it does help that my uncle was a triumph mechanic! Still - I'll do all I can to it...it'll be amateur and full of imperfections, but if it drives, I'll be happy and proud that I made it so! Still, I plan on losing money in this endeavour - but I think of it like this: most people I know go through hobby fads - they'll get REALLY into skiing, or snowboarding - then on to mountain biking or camping....whatever it is, they drop a couple Ks getting into something. I'll just keep dropping $500 in parts here and there and keep the hobby consistent. I'll take a TR6 on a sunny day over winter sports, hands-down (though it is a good thing that hockey playoffs and summer don't overlap too much!)

 

[Tinster]

Re: So what does a restoration really cost these d

cmac!!

Good on ya. You're fortunate to have a Triumph mechanic
to assist. I also did the majority of the work myself.
I did not own a socket wrench set when I joined this forum.
I now have a garage full of auto tools!

The kind folks here on the BCF forum gladly shared their
vast knowledge with this totally non-mechanical architect.
Two years later, I now have a daily driver that was mostly
accomplished with my own hands and forum knowledge.

These quirky, unreliable Triumph beasts get in your blood,
that's for sure.

I am proud I learned a new skill, made many new on-line
friends and enjoy the heck of driving my car along the
beach and mountain roads. I would not sell my beast for
all the $$ total I put into it. /bcforum/images/%%GRAEMLIN_URL%%/savewave.gif

d

 

[vagt6]

Re: So what does a restoration really cost these d

I'm with all of you on purchasing a car that's in good nick. In fact, I'm in the market right now for another LBC. Strangely, this time I'm looking at the car <u>AND</u> the owner: I want to buy a car from someone who does their own wrenching and is skilled at it.

This time around, I won't consider a car that isn't in very good mechanical, running condition and ready for a long tour. Does this make the car prohibitively expensive to purchase??? Of course not, <u>IF</u> it's purchased from the right owner.

For example, there are many guys who post here on the Forum from whom I would not hesitate to buy their car. They are good mechanics, they've done most of the work themselves (i.e., less money invested) and if something's broken on the car, it gets fixed! When I see an ad for a car that "needs" something, I go on to the next car!

A good friend of mine who's a renowned Triumph guru was the first person I called. Sadly, he doesn't have one for sale now. But I'd buy anything he has: he buys at low prices, restores prudently and does his own work. Perfect!

THAT's my next LBC: from an owner who is skilled, and who maintains his LBC well at all times: this is the key to buying the right LBC, <u>and</u> cost-effectively, IMHO.

 

[Tinster]

Re: So what does a restoration really cost these d

So Mark,

Are you saying you don't want me to put Pedro in
touch with you for your next purchase??

/bcforum/images/%%GRAEMLIN_URL%%/jester.gif /bcforum/images/%%GRAEMLIN_URL%%/devilgrin.gif /bcforum/images/%%GRAEMLIN_URL%%/devilgrin.gif /bcforum/images/%%GRAEMLIN_URL%%/devilgrin.gif