Sourcing a worthwhile project?

[Where2Guv]

Just wondered what you chaps thought was the best way to find a worthy project?

I have a competent sandblaster, body shop, mechanic and trimmer at my disposal - The mechanics time is free when he isn't working on the fleet. All others are available at seriously reduced rates because of long-standing relationships.

In the past, between my Dad and myself, we have overseen the resurrection of both an MGB GT and a glorious TVR Chimaera that is now largely his baby (The sweet old duffer is closer to retirement than me - it's only fair!)

I'm having a little snout around the market, but can't find anything that really ignites my soul. Lot's of lovely straight classics out there if 4 cylinder MG's et al are your thing, and lots of seriously unexciting (to me) restoration projects.

I don't want to pay much more than five grand for a project, because I want it to be a challenge. I also need it to be something I won't lose interest in. Another MGB just won't cut the mustard I'm afraid...

Don't forget I can take on pretty much anything, but where the hell are these juicy projects? There just must be specialist dealers / websites / forums for other people with my affliction!

I know I'm weird

I'm also not having a pop at MG's... I just don't view their upkeep as a challenge

[Classic Grad 98]

A stag maybe?

[Where2Guv]

You have one?

[LotusOmega375D]

TR6, Stag, XJ-S convertible, Alfa Spider or 105 series GTV? 5 grand may get you an MOT'd runner to start off with.

[Steffan]

I am with you all the way on MGB's I never liked the tractor car.

The Sprite or Midget is another matter. A restored genuine Mk1 Frogeye would be worth at least £8000 with history and provenance a great deal more.

They are tiny however.

I retired a year ago as a Chartered Accountant and have been into Classic cars and Kit cars all my life. started in 1962 with a Ford Falcon and have built dozens and owned umpteen since.

Now down to a Wolseley 15/50 1954 pre Gerald Palmer model OHC engine really odd BMC car lovely trim suspect heads and three Classic Minis including a genuine Cooper Cabriolet with K series 1800 mechanics. Also seven Kit Cars in various stages of build.

I would combine your expertise with ensuring you do not lose money on classics. You will not if you choose the appreciating models.

Thus the Sprite above is a thought, as would be a Morris Minor Cabriolet. Plenty of choices about a half started rebuild would be ideal.

Good Luck indeed you will enjoy it and see slight (!!) financial reward.

[saladin]

I recently heard about an Allard J2 that is sadly rotting away along with two Scimitar GT's...

And even sadder it seems that the owner does not want to part with them and is happy to leave them to rot to nothing!!!!

[williamp]

Keep a look out at the auctions too. This Maserati Indy (very much a project: partially stripped, rusty...) went at auction this time last year with Barons....



...For (wait for it...)


(no, think lower)



(yes, it did have its engine still...)



(...of course its the 4.7 V8. What else???...)


£800. Eight hundred pounds.



To answer your question, I'd be on the lookout for something like an early 928 which has been neglected and needs love and attention. Try exchange and mart, too!

[Huntsman]

Have a look here

http://www.rijohnson.co.uk/

He also had an XK120 OTS in this months C and SC...that's worthwhile.

[Steffan]

Huntsman said:

Have a look here

http://www.rijohnson.co.uk/

He also had an XK120 OTS in this months C and SC...that's worthwhile.

Some interesting examples.

If you choose on of the really collectible classics such as the Jags or an A/H early car then I do think it is possible to not spend more than the restored car will be worth. In terms of parts and materials. I think labour charges are unlikely to be possible or maybe at 50p an hour or so.

Not easy but possible.

Any of the really popular cars like the Morris Minor Convertible will probably offer a return of parts and materials costs.

I doubt whether cars such as the post war Fords or Vauxhalls will meet that test. Nor will the Spitfire or similar. TR2, 3. 4, 5 might.

My reason for the Sprite choice is that trimming is minimal, body parts are still about and I have been made aware of at least three unfinished cars at reasonable money in the last few months.

Plus refinishing and handling a small lightweight car is much better than say a Jaguar Mk7 where space would be a major factor and quantity of paint etc.

Best of luck whatever you choose

[Where2Guv]

I've been having a look at some of the Auction results... A lot of viable looking projects seem to go through with quite low hammer prices.

Is there a reason for this - Maybe the dealers know it's actually uneconomical, or perhaps they are after the stuff that is very simply turned around for a smaller profit?



ETA: Or is it more that the classic marketplace is currently over-valuing itself? Maybe all those shiny cars at high end dealers just aren't selling for anywhere near the advertised price. Thoughts?

[williamp]

Where2Guv said:

I've been having a look at some of the Auction results... A lot of viable looking projects seem to go through with quite low hammer prices.

Is there a reason for this - Maybe the dealers know it's actually uneconomical, or perhaps they are after the stuff that is very simply turned around for a smaller profit?



ETA: Or is it more that the classic marketplace is currently over-valuing itself? Maybe all those shiny cars at high end dealers just aren't selling for anywhere near the advertised price. Thoughts?

could be any or all of those things. It could also be that they are normally brought by people with some spare cash who fancy a bit of angle grinding over the winter months. Cash not being as readily available as it used to be, maybe they are not buying them.