Hi John...happy new year....wow - a million plus dollar Stag.....that's got
to be a record for even the best of classic British car restorations! I
didn't mention that the bulk of work done on my car by the shop owner (the
stuff I couldn't do) was billed to me at $25/hour - the labor rate he
happened to be using back in 1999 through 2002. I don't think that I would be
able to justify the expense of a restoration of similar quality at today's
labor rates and cost of parts....I was truly in the right place at the right
time:)
Chip
In a message dated 12/29/2009 5:33:25 P.M. Eastern Standard Time,
macartney.john@yahoo.co.uk writes:
Chip Krout wrote:
So, using my hours and a labor rate of $75/hour for example, if someone
were to hire a shop to entirely restore a TR6 from "bottom-up" to concours
condition, the labor component would be at least $90,000.....a number that
is
absolutely frightening by any measure of sanity if that person was doing
the restoration in hopes of reselling at a profit!
Not trying to cap your calcs, Chip - but we did similar maths on the
rebuild of "uncle jack" - the '73 Stag I drove *aimlessly* around the US and
Canada this year.
After the event was over, "uj" won the Stag Concours (382.5 points out of
400) at Triumphest/NATC and that was after 17,500 miles - so he was pretty
damned good at the Start.
Joe Pawlak kept a detailed hourly log of all the work done and while I
don't have it to hand it was dedicated core of 12 truly dedicated people (and
others from time to time) for 76 weekends @ 2 days per weekend @ 8 hours
per man/day = 14,592 hours. Joe also put in several hundred more hours on
most weeknights working on his own. I think he worked on a retail labout rate
of $85 per hour, so the labour hours 'notional value' is $1,240,320. Then
add in the pledge value to acquire the car, funded so kindly by many on this
list at $6500 and another $12,000 for parts we had to ship out from the UK
and we're looking at a minimum total of $1,258,820.
I'm fairly sure we won't see anything like that headed in our direction
when the car is finally sold - but a man can dream................ And one
day, someone's going to become the happy (and fortunate) owner of arguably
the best known Stag west of the Atlantic. Not only the best known but IMHO,
undoubtedly the very best Stag resto I've ever seen. And I've seen many.
"Uncle Jack" is still effectively a brand new car
Jonmac
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