Classic cars forum & vehicle restoration.
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Penman
Joined: 23 Nov 2007 Posts: 4850 Location: Swindon, Wilts.
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Posted: Wed Feb 13, 2008 8:39 pm Post subject: Costs-V-Value |
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Hi
Chatting with people on the BOC it would seem that the costs of purchasing and refurbishing outstrip the final value of our cherished motors.
You will gather from this that I am disregarding the pleasure we get from them as it is generally something we can't put a monetary value on.
Do you reckon that you have spent, or will be spending, more on your cars than they are or will be worth monetarily?
Does allowing/making the car work for you, such as 47p2's Rover has, help appreciably? |
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Job-Rated

Joined: 23 Nov 2007 Posts: 1010 Location: Sugarbeet County
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Posted: Wed Feb 13, 2008 8:51 pm Post subject: |
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I'm pretty sure I'll never get all my money back on the Dodge, but that thought will be at the back of my mind when I'm driving it down the road or parking up at a show.
I think that's the rub - knowing it's yours & it wouldn't be like it is if it weren't for you. Now there's a pleasure you can't put a price on. _________________ Don't run your fingers over my truck & I won't run my truck over your fingers!
http://www.loosechange-band.co.uk/ |
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Rick Site Admin

Joined: 27 Apr 2005 Posts: 22780 Location: UK
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Posted: Wed Feb 13, 2008 9:30 pm Post subject: |
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I think the general rule is that most full-on rebuilds will cost more than the resulting vehicle is £worth, especially if any of the work is farmed out to pro's.
But as J-R says, the 'value' of the end result is impossible to fully quantify as it isn't just about the financial return if you decide to sell it later. Its the fulfillment of taking on a ruin, that many would simply throw away, and returning it to the road once more. The more obscure the vehicle, the bigger the kick I reckon. I daren't estimate the final cost of my old truck (for practicality that had to be farmed out for most of the work), but to see it back on the road will be a big deal after owning and planning its resurrection for so long (since 1995).
I also get satisfaction from tracking down the rare spares needed to get it going again. Many many parts have come from the US, plus a NOS steering wheel that turned up somewhere in Australia. Searching for all these bits puts you in touch with some interesting people too (online and at shows, autojumbles etc), something else that you can't pin a value on.
Rick _________________ Rick - Admin
Home:https://www.oldclassiccar.co.uk
Videos:https://www.youtube.com/user/oldclassiccarRJ/videos
OCC & classic car merchandise (Austin, Ford ++):
https://www.redbubble.com/people/OldClassicCar/shop |
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Old-Nail

Joined: 23 Nov 2007 Posts: 853
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Posted: Wed Feb 13, 2008 10:54 pm Post subject: |
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Of all the classic vehicles that I have owned I have had the most enjoyment from the 'condition 2' ones.
There is something about a car needing work that calls for greater involvement from the owner. The time spent attending and scouring auto-jumbles for that elusive part, or surfing the net for the latest developments in restoration technology is all part of the deal.
To completely rebuild and restore a vehicle yourself would I imagine introduce both new skills to the restorer (which can then be built upon) and familiarises him with a host of service and parts providers. It is a personal thing - a hobby, a challenge, and at times a passion which needs to be fulfilled... often as the costs rise and rise!
I think there's little doubt that it is financially better (or wiser) to buy a top notch ready restored vehicle that someone else has took the hit of the restoration costs, but that's like flying to Monte Carlo to stand at the finish line of the rally... nice, but you would have missed the journey, and sometimes that's where all the fun is! |
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Uncle Joe Guest
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Posted: Thu Feb 14, 2008 12:49 pm Post subject: |
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I think the same as most others in this case. I doubt if I will ever get back the amount I have laid out on a car. I've usually got back more than I paid when I bought it, but this doesnt cover the costs involved. Especially if a nominal amount for labour is added.
One pleasure that I do get though when a job is finished is the amount of things that I have learnedin the process. Education is something that a value cant be put on. Sometimes, the knowldege is useful in other areas as well. |
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62rebel
Joined: 03 Dec 2007 Posts: 343 Location: Charleston, South Carolina
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Posted: Thu Feb 14, 2008 5:32 pm Post subject: |
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except for a select few, most automobiles follow the law of diminishing returns as far as "investment value" is concerned. and to be quite honest about it, i think that investing in something that literally deteriorates before your eyes is foolish. that said; i own 4 "classic" cars, a 1952 Plymouth, a 1959 Ford Galaxie, and a 1962 and a 1966 Ford Falcon. i drive a Ford F150 to work. of these i consider the Galaxie the most valuable, but even if i sold it at top price today it wouldn't return what i have in it.
my relatives do not understand my attraction to old cars, and i do not understand why they need 4wheel drives to go to the grocery. |
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pigtin
Joined: 23 Nov 2007 Posts: 1879 Location: Herne Bay
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Posted: Thu Feb 14, 2008 5:54 pm Post subject: |
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My 10/4 cost about £2000 to purchase and restore in 1985, used by my
wife for shopping and as a 2nd car for around 17 years the running costs
were negligible.
During that time it took us to about ten shows a year and three foreign
holidays towed a caravan twice to the Dorset steam fair, and other joys
too numerous to mention. It’s getting a bit of body rust around the
bottom of the rear tub and a few other places, nothing serious and it is
still reliable transport.
In 23 years I’ve spent less then £500 on maintenance, most of that was
on tyres.
If I throw it away tomorrow I’ll consider I’ve had my moneys worth.
Don. |
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ukdave2002
Joined: 23 Nov 2007 Posts: 4231 Location: South Cheshire
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Posted: Thu Feb 14, 2008 7:21 pm Post subject: |
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If you place a reasonable cost on your effort, say £30 per hour, and assume some kind of depreciation for a car that is being used..
On my condition 2 Stag, yes because I only do repairs as required and could sell it for a bit more than I paid.
The 2 nut and bolt jobs; being the MGA & Morris 8 SE, not a cat’s chance!! It’s a labour of love!! They would both have to be worth about £30K each for me to break even!
Dave |
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47p2

Joined: 24 Nov 2007 Posts: 2009 Location: Glasgow
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Posted: Thu Feb 14, 2008 7:28 pm Post subject: Re: Costs-V-Value |
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Penman wrote: | Hi
Does allowing/making the car work for you, such as 47p2's Rover has, help appreciably? |
The amount of work I do with the P2 just covers the costs and not much else. A good way to enjoy a hobby without being out of pocket.
If only I could get some work for my latest Range Rover Classic and cover the costs of that I would be more than happy _________________ ROVER
One of Britain's Fine Cars |
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