> I have two of these beauties. In both cases I have done a
> frame-off restoration, increased the engine BHP, added
> overdrive, and installed custom-made roll-bars and leather
> bucket seats (plus R&P steering, electric fan etc).
The problem as I see it is that that does NOT describe a "restored" car.
That's more like a kit car using some components from an old car.
And kit car prices are notoriously variable. If you find someone that
doesn't like doing the work themselves and want a car modified exactly the
way you've modified it, then maybe you could get a premium price. But
generally any serious collector is going to look at all the things that are
"wrong" and see it only as a project, no matter how shiny the paint is.
> I was in a
> TR restoration shop in the UK last week where there were six
> TR3 going from between $60 - $80K.
And we've commented before that prices in the UK are absurd, compared to
those in the US. There are even people who make money buying cars here and
shipping them to Europe. Lots of reasons for that, but I daresay the MOT is
one of the largest. Back when TR3s weren't particularly valuable (I paid
$100 for my first one), they weren't worth the cost (or effort) of making
them pass MOT, so most of them were scrapped. Here in the US without the
MOT tests (for the most part) the cars got driven long past the point they
would have failed MOT, and then stored in someone's barn until they became
valuable enough to repair again. (My current TR3 project was stored in a
garage from 1975 to 2005, and still sold for under $3000)
> My guess? Perfect restoration and upgrades ~ $40K+: Really
> nice frame-off restoration $20 - 30K: anything less be very careful.
>
> Do folks think I am way off ?
IMO, a 100 point, concours winning restoration might bring $30K today, but
to get much more than that it would have to be a "special interest" car.
Modifications are, at best, "value neutral", unless perhaps you manage to
find a buyer that wants exactly those changes, or the car is modified for a
particular vintage racing class, etc.
Randall
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