Response to backwoodsbob (Original post)
Thu Apr 26, 2012, 10:10 AM
yellowcanine (24,874 posts)
19. That's a real good price for a vintage car which can be driven. But think twice before restoring.
Rare does not mean collectible. Collectible is determined more by demand than rarity. For example 55-57 Chevys are not rare but they are very collectible. The same is true for the first generation Mustangs (64-73). A big part of the reason for this is that these cars were very popular when new and many collectors had them for a first car or wished that they had them for a first car. In the case of the 55-57 Chevys the availability of a "hotrod" small block
replacement engine, the 327, made these cars even more popular early on.
The person who does a correct restoration may have a hard time getting their money out of it even if it is very collectible.
If truly collectible it may be easier to sell unrestored because some collectors prefer unrestored or want to restore it themselves. Also the value of many vintage cars is pretty much in the toilet right now which may partly explain why you were able to get such a good deal. I would talk to someone who restores cars for a living to assess better what you truly have and what the value is restored vs unrestored. You can also look at Ebay prices although Hemmings is probably much better.
On the other hand if the intent is to restore it to enjoy it (the best reason for owning or restoring any collectible, imo), it may be a good move. The good thing is by having something which can be driven, you can enjoy it now and take some time to decide about whether you want to restore it or not. And getting any roadworthy car for $1400 is a good deal - the fact that it is a Porsche makes it even more so.
"The biggest problem with the denizens of bullshit mountain is they act like their shit don't stink." - Jon Stewart
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|Gold Metal Flake||Apr 2012||#11|
|guitar man||Apr 2012||#15|
|Electric Monk||Apr 2012||#16|
That's a real good price for a vintage car which can be driven. But think twice before restoring.
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