Do restorers make a good profit?

[Shelly Harris]

A new member privately emailed me saying he was going to start a hunt for a Mk II and asked for my advice. I told him, "My opinion is to buy the most complete car you can get. Let the previous owner do as much as possible. I think sellers seldom get back what they put into a car."

Now I'm wondering if what I said is true. Are there Seller's who do make a nice profit on their cars?

[Barry Wolk]

If you work cheap, you can make a profit. The cost of paint materials and chroming will blow you away, if you want show quality.

I always tell people that the winner in a non-commercial restoration is typically the buyer.

[Chuck Lutz]

I would have to add it would depend on the car. We've had discussions here about how pristine Mark II's don't command the dollars that some other cars do. Look how stupid the prices were (and still are) in the Mopar cars. How a $3,500 car in 71 can pull $200k today is beyond me. I love the Mark II's for many reasons and profit couldn't be one.
I enjoy watching Wayne Carini on Chasing Classic Cars. He's been doing it for years and I'm sure that market is up and down all the time. The key, I suppose is finding the right car, at the right price.. don't get too emotionally attached and over spend and know what the market is for the car you're restoring.

[Barry Wolk]

Or, just do it because you enjoy it. I'm completely redoing a '68 Lincoln limousine, not because it will have any value to anyone else, just because my wife wanted one.

The restorer I've used charges $60 hr for a guy he pays $25 hr. I guess that's a pretty good profit.

[depmike38]

Shelly, I have to agree with you on this. I've built them for myself and never recouped the cost of things I did just to please me when I would finally sell the car. Unless you purchase it low, do most of the work yourself, and assign no monetary value to your labor I don't see how you can come out. Just buy as nice a one initially as you can afford and enjoy the car.IMHO

[Chuck Lutz]

LOL.. Yes, but let's not forget about "plant and equipment, overhead etc.. unless he's working in your shop. :D

[Dave Harris]

I like Wayne Carini and Chasing Classic Cars too. It's on HD theater on Comcast cable. I think he tends to overvalue the cars a bit. A number of times they don't sell at auction and the episode ends with him saying he'll keep the car for a while. But sometimes he brings the unsold car back home and finds a buyer elsewhere. It appears he has a full time mechanic that fixes nearly everything. Pretty good show.