From: robie@umbc4.umbc.edu (Mr. William Robie; POSI (GRAD))
Newsgroups: alt.autos.antique
Subject: Realistic Prices (was: Selling '53 Plmouth ...)
Date: 6 Oct 92 16:39:13 GMT
Organization: Univ. of MD, Baltimore County

The recent posting (re: a '53 Plmouth) prompted me to make the following
comments:

What is a rusted car with mechanical and interior problems worth?  Here is
a mental exercise that will give you a ballpark idea ...

A) What is the car worth in fully-restored condition? .......  $XXXX.XX
(see Hemmings for the above)

B) What will it cost to put *your* car in that condition? ...  $XXXX.XX
(if B is greater than A, stop here.  Your options are
to junk it, keep it in your garage another 20 years,
or sell it for a very minimal price to someone who
knows less about it than you do)

C) Take the difference between A and B, then divide that amount
in half.  Most people who restore cars are not inclined to do so
as a "break even" proposition -- if that was what they wanted, 
they'd buy one already restored.  You now have a figure of ...  $ XX.XX
This is a ballpark value for that basket case you still have.

Here is the reality of the matter:

No matter what the car is (make, model, etc.), it is basically going
to need some form of sheet metal, glass (incl. plastics), paint, upholstery,
and mechanical work done to it.  Some of this work involves obtaining
parts especially for that car (think of these items as dollars -- the more
of them you need, the more dollars you will have to spend).  These are
items that will vary from car to car.  The rest of the items listed
above (metal and upholstery work, for example) are going to cost *relatively*
the same, whether they are for a VW "Bug" or a Bugatti (assuming that you
are having the work done for your particular car - please note that I am
emphasizing *relatively*, because I am trying to make a generalized point, and
not talking specifics).  If your Bugatti needs $5,000 worth of metal and    
paint work, you are VERY fortunate! It's a deal!!  On the other hand, you
would have to have an extremely rare VW for $5,000 in metal and paint work
(remember - you have the other things, too) to be a reasonable investment.

I have cars that I bought to restore in the future ( a game plan I learned in
high school from an old man who had a *fortune* in cars that he bought when
they were "old jalopies" and stored until they were worth restoring) that
range from a shell & boxes of parts, to solid cars (needing only the removal
of a dent, or two, and paint to put on show).  The true "basket case" that
I have is a 1955 Porsche Cabriolet.  It will take about $10,000.00 for me
to restore (with me doing all the work), but it is a good investment.  There
were less than 100 '55 Cabriolets made, and it is one of the earlier of
the Porsches built.  It is still worth restoring, and I have turned down
a legitimate offer of $10,000 for it, as is.  If this were a '55 Chevy
ragtop, in the same condition, it *might* be worth restoring -- but only
if I really was in love with '55 Chevy ragtops, and planned to enjoy it
for several years before selling it.  If it were a '55 Chevy Tudor, I'd
probably store it (NOT at a rental place -- I am talking about "free"
storeage) for a few more years and hope that it would go up in value
on the market and NOT go down in condition while stored.  If it were
something even less desireable, like a '53 Plymouth Cranbrook or Mayflower,
I would try to part it out to people who could use the parts to bring their
cars, economically, up to driving condition.  

Just because the restored Plymouth is worth FAR less than the restored
Porsche, it doesn't mean that you can restore it for much less.  I think the
original poster (and others who have asked similar questions) has,
unfortunately, got a "parts car."  Too bad, really.  As another poster 
mentioned (from an article he read), the '40s and early '50s Chrysler
products are "sleepers."  These are cheap (now), very easy to work on,
parts are still obtainable (with effort and a bit of $), and they were
very good autos.  None of them were gorgeous -- in fact, most were rather
ugly -- but they were "ugly" in an appealing sort of way.  They show
some of the rather clumsy-looking early attempts at streamlined design.
Good, solid, examples of this period of Chrysler (Dodge, & Plymouth) would
be excellent investment cars, provided you have a protected place to keep
them for a few more years, and provided you shop around and get a good one
that is cheap.
Newsgroups: alt.autos.antique