Value

[rob-dirt]

If I were buying I would think $60-$65k would be where I would feel comfortable. I think there would be a few buyers in that area. The car really needs a total resto and has parts missing. The ones that are present don't appear to be in the best of shape.


 

[Aero426]

$80k if you are selling.   $65k if you are buying.   

[rainbow4jd]

I can only say what I would be willing to pay for it - based on what you have described.   

First, I start with what it will take to restore it.   And I'm going to say $15,000 for paint and body and another $15,000 in parts - maybe that is high, but I'll think "worse case"

Second, I'm guessing a nicely restored auto 44 bird is going to be a $110,000 - $130,000 car.     That's not a Concours restoration but a daily driver restoration I'm talking about. 

Third, I'm going to AT LEAST want to believe that I have 20% or about $25,000 in profit - should I sell it.  In other words, if I go invest money in the stock market - and I invest in risky stocks (but they pay out pretty good) I should be able to get 20% return on that money, so similarly I would want to get 20% return on my investment in the car, because cars are considered "risky" investments.   

Which leads me to the math....

Worst case:  $110,000 - less 20% ($22,000) profit - $30,000 restoration = $58,000 on the bottom
Best case:    $130,000 - less 20% ($26,000) profit - $30,000 restoration = $74,000 on the top

If you already have people you know and trust to do the restoration - then you might lean towards the top.   If you don't know anyone then presume you'll probably get screwed by someone who shortcuts and you'll have to pay more to fix it (trial and error money wasting lesson) - then I would go for the bottom.

PS I might have the correct carburetor still around for your car - it will need to be rebuilt.  I've moved so a lot of stuff is in storage and I sold off a bunch of parts - so it may be gone.

[Redbird]

IMHO, If it is a shop or someone that is going to immediately flip it, the restoring the car the profit analysis makes some sense.

For the average home based restoration, I don't believe it applies.

There are lots of restored cars available at one time, see the # of cars available for auction in January.

The # of complete cars available for restoration is a much smaller pool.

This car is relatively complete. sure it is missing some parts. However, it is not like it is a complete rust hole basket case if the description is accurate. I'd hedge here since I believe an on site inspection is mandatory, I would be quite concerned the the past storage has created a rotter.

I think project cars will return a higher # than the final line cost will dictate. The # of people that want to get into the market and invest sweat equity and parts finding ability, plus their optimism will drive the cost higher than the MBA approach. IMHO the MBA approach with the profit calculated at 20% does not work because one has to add the carrying cost of borrowed or opportunity money and that drops the initial buy in cost to something that virtually no car no matter what the condition into the unaffordable category.

[RealWing]

I can only say what I would be willing to pay for it - based on what you have described.   

First, I start with what it will take to restore it.   And I'm going to say $15,000 for paint and body and another $15,000 in parts - maybe that is high, but I'll think "worse case"

Second, I'm guessing a nicely restored auto 44 bird is going to be a $110,000 - $130,000 car.     That's not a Concours restoration but a daily driver restoration I'm talking about. 

Third, I'm going to AT LEAST want to believe that I have 20% or about $25,000 in profit - should I sell it.  In other words, if I go invest money in the stock market - and I invest in risky stocks (but they pay out pretty good) I should be able to get 20% return on that money, so similarly I would want to get 20% return on my investment in the car, because cars are considered "risky" investments.   

Which leads me to the math....

Worst case:  $110,000 - less 20% ($22,000) profit - $30,000 restoration = $58,000 on the bottom
Best case:    $130,000 - less 20% ($26,000) profit - $30,000 restoration = $74,000 on the top

If you already have people you know and trust to do the restoration - then you might lean towards the top.   If you don't know anyone then presume you'll probably get screwed by someone who shortcuts and you'll have to pay more to fix it (trial and error money wasting lesson) - then I would go for the bottom.

PS I might have the correct carburetor still around for your car - it will need to be rebuilt.  I've moved so a lot of stuff is in storage and I sold off a bunch of parts - so it may be gone.

15K$ sounds about right for body and paint, but 15K$ for the rest of the restoration sounds way low to me. Nearly everything inside the car needs replacing due to the extensive mold damage. The engine will need a complete overhaul I'm sure. I kept track of everything when I restored my Superbird and it was somewhere around 85K$ CDN and that was back between 2000 when I started and 2012 when I finished!!!!  That didn't get it to concours level but it probably is somewhere around a #1. I know it isn't a concours car because I was entered into the Cobble Beach Concours d'Elegance back in Sept and got beat by a GTO, Mustang and Chevelle!!!  That hurt!!!

I did make an offer on the car based on the replies I got but the old guy said I was way low. It is obvious now that he thinks it is worth far far more than it actually is.

PS Thx for the offer on the carb. Good to know

Jim

[1970Moparmann]

I did make an offer on the car based on the replies I got but the old guy said I was way low. It is obvious now that he thinks it is worth far far more than it actually is.

Jim

Interesting...   Tell him to get all of the NOS parts for it, and then his price might be in the ball park.   

[birdsandbees]

If you were low on that in it's current shape then it's time for me to sell mine and put the money in the bank....

At minimum you will spend 75,000 to have someone restore that car for you and I'm not sure that will cover the missing parts.