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TR2/3/3A The value of TR3's?
- Thread starter luke44
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Most all the mags and books say buy the best car you can find/afford, however, a lot more people can afford to pay thousands for a hobby car than tens of thousands, for those of us that are married with children it may also be not so much about affordability, but priorities and or keepiing the peace at home.
Sure you end up paying more in the long run, but in the short run you get a car you can start working on, vs. waiting or perhaps never getting the nice one.
There is also the issue as stated of determining how it is done, or done right or not. Some enjoy doing a restoration, I am currently doing a pretty much total restoration on a TR250, bought for the reasons stated above.
I myself like to work on cars, and total restorations are in that realm, but really prefer a running car I can tinker with and improve the mechanics and cosmetics as you go. Probably not the best way to do a restoration for ultimate quality and finish of the vehicle, but you get to drive and enjoy it most of the time through the process, and see the immediate fruits of your labor, not work for months or years before it all gets done.
Sure you end up paying more in the long run, but in the short run you get a car you can start working on, vs. waiting or perhaps never getting the nice one.
There is also the issue as stated of determining how it is done, or done right or not. Some enjoy doing a restoration, I am currently doing a pretty much total restoration on a TR250, bought for the reasons stated above.
I myself like to work on cars, and total restorations are in that realm, but really prefer a running car I can tinker with and improve the mechanics and cosmetics as you go. Probably not the best way to do a restoration for ultimate quality and finish of the vehicle, but you get to drive and enjoy it most of the time through the process, and see the immediate fruits of your labor, not work for months or years before it all gets done.
TR3driver
Great Pumpkin - R.I.P
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Seems like there is also an implied assumption here ... you don't actually have to 'restore' a car to enjoy it! There are fewer and fewer "survivors" around, but it seems to me that they attract the most attention at shows. That TR3B looks pretty sound (not that photos are really enough to judge by) ... a quick respray, some interior panels & carpet, and of course the obligatory hydraulics repair might be all it needs to be road-worthy.
Also worth noting that, as a TR3B, it's actually a relatively rare car. Less than 3000 TCF series cars were made.
Also worth noting that, as a TR3B, it's actually a relatively rare car. Less than 3000 TCF series cars were made.
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ekamm
Jedi Warrior
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I agree wholeheartedly. I'm asked all the time "Are you going to restore it?" I'm having a great time driving it. I replace the interior this winter and now just enjoying. Next winter something else (Front end)But really just improving the fun of driving the car. Keep 'em on the road not in the body shop!
TexasKnucklehead
Jedi Knight
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I agree with everything, but there are always exceptions. I never thought I'd do a restoration. But a flooded TR3 was *GIVEN* to anyone foolish enough to restore it. Now I have more invested in that free TR3 than in my TR6 that I fully enjoy driving. I have spent more time on ebay and got some fantastick deals on parts, but I know there is some expense still headed my way, and I wasted some money on parts that can't be used. I have most everything to put the car back together, but the little parts seem to have no end. I'm at $12k, the frame lacks a little time until the rear wheels are back on, but the front is all completly rebuilt, new axle bearings, seals, bushings, etc... I have all original body panels (needing minor work), interior, engine parts, dash, guages, brake lines...
The bottom line, it's a hobby. It can be as expensive as you can afford. I'm glad enough people have done this before me, that parts and information is still available. Like all those before me, I know I can finish this project.
The bottom line, it's a hobby. It can be as expensive as you can afford. I'm glad enough people have done this before me, that parts and information is still available. Like all those before me, I know I can finish this project.
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luke44
Jedi Warrior
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I continue to be puzzled by peoples perceived values of these basket case cars needing a ton of work. I really wonder which would be the better buy?
Take this TR3 - completely shot (take a look at that RF fender). Rusted like crazy, and yet gets 4 bidders running the price up to over $5k...
https://cgi.ebay.com/ebaymotors/ws/eBayISAPI.dll?ViewItem&item=320548510342
And there are these 2 that can't draw a single bid even though a lot of work is already done and I am sure a lot of $$ spent on the restoration. Take 'em apart and start to put them back together and people lose all interest.
Very strange... :confuse:
https://cgi.ebay.com/ebaymotors/TR3-Rebui...=item19bd4d2d24
https://cgi.ebay.com/ebaymotors/1960-Triu...=item4aa271bf36
Take this TR3 - completely shot (take a look at that RF fender). Rusted like crazy, and yet gets 4 bidders running the price up to over $5k...
https://cgi.ebay.com/ebaymotors/ws/eBayISAPI.dll?ViewItem&item=320548510342
And there are these 2 that can't draw a single bid even though a lot of work is already done and I am sure a lot of $$ spent on the restoration. Take 'em apart and start to put them back together and people lose all interest.
Very strange... :confuse:
https://cgi.ebay.com/ebaymotors/TR3-Rebui...=item19bd4d2d24
https://cgi.ebay.com/ebaymotors/1960-Triu...=item4aa271bf36
i dont know about the rest of you but i bought my spit as a "rolling project"
i do not have the time, space, money, etc to do a total restoration...i do have the space, time and money to fix things as they come up or as i feel like fixing them...
yes, i do want to do a total restoration one day...maybe after i am retired and the kids are out of college and my wife finally gets to the point where she would prefer that i am out in the garage and out of her hair...lol...
but for now...i have a fun/frustrating toy that i can enjoy driving, and enjoy working on... not sure how to put a value on that.
but thats just me.
i do not have the time, space, money, etc to do a total restoration...i do have the space, time and money to fix things as they come up or as i feel like fixing them...
yes, i do want to do a total restoration one day...maybe after i am retired and the kids are out of college and my wife finally gets to the point where she would prefer that i am out in the garage and out of her hair...lol...
but for now...i have a fun/frustrating toy that i can enjoy driving, and enjoy working on... not sure how to put a value on that.
but thats just me.
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luke44
Jedi Warrior
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Twosheds said:
And me too. I don't question the project aspect - I'm also knee deep into it. It just surprises me how the bidders perceptions are of the cars above. To me the red car all together looks like a much bigger (read $$$) project than the 2 partially started, but nonethless it draws much higher interest - multiple bids vs no bids...
TR3driver
Great Pumpkin - R.I.P
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Did you ever build models as a kid?luke44 said:
Ever try to finish one that someone else had started?
Taking over someone else's project is iffy at best. If you start with an assembled car, even one that needs a total tear down, at least you were the one taking it apart. Starting out with baskets of parts is daunting for anyone. And there is always the chance that the work already done was not done properly, the new parts bought are not the right ones, and so on.
And the second auction linked above says "reserve not met" while giving a price in the description of $10,000 ... not something I would care to bid on.
TR3TR6
Jedi Warrior
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I think its really a personal thing. I purchased my TR3 over 23 years ago at a garage sale. I was able to drive it home, but it needed alot of work. Shortly after I purchased it, I decided that it would be a keeper. I started a body off restoration. The more I got into it, the more problems I discovered. Back then some parts were not available like they are now. It ended up taking close to seven years to finish that project which included taking the body down to bare metal. What I discovered is, if you replace all of the critical parts with new ones, you are less likely to have problems down the road. I have gotten alot of good miles out of it with very few problems. I've also noticed that the parts were alot cheaper back then compared to now and they weren't made in China!
Terry
Terry
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luke44
Jedi Warrior
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TR3driver said:
Well I sure understand that. Unfortunately I waited until I was an adult.... :crazy:
https://www.britishcarforum.com/bcforum/u...have#Post646747
Don Elliott
Obi Wan
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From 1987 to 1990, I restored (total body-off) the 1958 TR3A that I bought brand new in 1958 and drove it 80,250 miles till 1972. The total for the parts came to $13,000 and another $5000 for the final sanding and painting all off the body. I put in 1100 hours and my helpful neighbour threw in another 450 hours free.
And I finished all that in 3 years when prices were mostly 1988 prices for all the parts.
And I finished all that in 3 years when prices were mostly 1988 prices for all the parts.
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luke44
Jedi Warrior
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TR3A values over the last 12 months from Hagerty. I have a lot of faith in their valuation tool because it's based on their insurance transactions (how much did you pay/sell it for?) as well as auction results. Hey, I'm just reporting. Don't shoot the messenger. I say it's about time!
PS - I edited the graph and selected the one which shows all the condition 1 through 4 levels per Hagerty's classifications (category 1 would win at Pebble Beach, most of our cars are condition 3 by the Hagerty definition)and includes sales prices, not just percent change. Note this chart shows the average price. I selected a 1960 model at random.
Funny how Hagerty's values vary from the Nada valuations which can be found here. Nada is lower.
PS - I edited the graph and selected the one which shows all the condition 1 through 4 levels per Hagerty's classifications (category 1 would win at Pebble Beach, most of our cars are condition 3 by the Hagerty definition)and includes sales prices, not just percent change. Note this chart shows the average price. I selected a 1960 model at random.
Funny how Hagerty's values vary from the Nada valuations which can be found here. Nada is lower.