Listers,
All of this talk about building cars for auctions. Pros can do it because
they have done the same resto over and over again and have people to
reasonably subcontract at wholesale BECAUSE they do lots of work for the
same shop and will cut costs because of continued jobs, rain or shine and
the state of the economy.
First you have to pick the right car - a Jag XKE is a good example, so is a
1955-57 Chevy or an SS Camero, convertibles are best. Buy a car that is
VERY POPULAR and one that is EASY TO GET PARTS and EASY TO FIND
SUBCONTRACTORS WHO HAVE EXPERTISE IN THAT PARTICULAR CAR.
Then you have to find the right example. Best bet is a clean rust-free car
that is complete and running but is worn mechanically and shabby but not
totaled. It will need paint, chrome, interior and a top but is still all
there. That way you don't have to do any expensive momocoque chassis work.
Try not to have to pay for anyone else's substandard restoration work that
will have to be redone. The buy is almost more important than the sale.
A pro will know exactly what it will cost him for each resto task because
he has done it so many times and is pretty sure of the exact costs and how
much time it will take to build. Pros often have a paid staff that will
have some slow times and will use these auction restos as "fill work" so
the cost of labour is often offset into the employees daily wages,
therefore not to be calculated into the cost of restoration. Often the
subcontractors do the same thing with their staffs (as long as there is no
time constraints) and this allows for additional savings on the job. If
these jobs are done "off the books" for cars, even more savings!!!
Pros always use the best materials, a top buck car has to look and feel
like a top buck car - no compromise in quality means for no excuses at sale
time. Make sure that if you find the buyer for your particular type of
car, it has to be so good and so tastfully done as to make the buyer say to
himself, "This is such a nice car and I was going to buy one anyway - why
not pay a bit more for this really nice one." This is where auctions pay
off. You get two or three guys who want this car and they can get caught
up in the heat of the moment and bid the car up.
Often, in the end, the car will not bring as much profit as one might
think. A really nice car can still cost a bunch to build, even with all of
the time, experience and shrewd dealing with subcontractors. Often
restorers will do this for publicity and to "troll" for new clients. Get
your resto on Speed Channel on the Barrett-Jackson auction and there you go
- publicity and an international window that could pay off over and over
again!! Something that you can't just go out and buy.
Cheers,
Rick Feibusch
Venice, CA
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