Restoring older Fcars is there profit in it?

[FranKinFezza]

Idly mooching through the classifieds and bieng redundant ATM i wondered

As the header states is there likely to be any profit in restoring older
Ferrari's. I'm thinking 308's Mondial GT4's etc not the vintage motors.

Reason i ask is there seems to be quite a few tired examples of
these cars floating around ebay trader and such at low money
and i know i have the necessary ability to sort out 90% of problems
rust, tired paint, dodgy wiring, cambelt's etc and staying away from
crashed cars that need hideously expensive or near impossible to find parts.

My plan is to use my own spare space at home not renting/buying a premises
so overheads would be minimal.

Question is could i sell them after with enough of a mark up to make it worth
the bother.

Surly there's a market for the first time owner i could help to fill between
the shed and the cherished example or should i take some more medication?

[DrYazz]

FranKinFezza said:

or should i take some more medication?

Discuss Chlorpromazine with your GP.

Edited by DrYazz on Saturday 27th November 09:18

[FranKinFezza]

DrYazz said:

FranKinFezza said:

or should i take some more medication?

Discuss Chlorpromazine with your GP.

Edited by DrYazz on Saturday 27th November 09:18

bit harsh.



but your probably right

[AndrewW-G]

Unless your getting the cars for pennies, the answer is no. the methods used to restore a 308 or Mondial are the same labour intensive restoration methods that are used on Daytona's and Dino's. . . . . . and the parts prices (if you can find them) can be eye watering . . . . unless you've got a stack of the harder to find parts that always need replacing to make a car work properly or look cared for

Edited by AndrewW-G on Saturday 27th November 12:14

[FranKinFezza]

AndrewW-G said:

Unless your getting the cars for pennies, the answer is no. the methods used to restore a 308 or Mondial are the same labour intensive restoration methods that are used on Daytona's and Dino's. . . . . . and the parts prices (if you can find them) can be eye watering . . . . unless you've got a stack of the harder to find parts that always need replacing to make a car work properly or look cared for

Edited by AndrewW-G on Saturday 27th November 12:14

Indeed you are right. I was only thinking of (light) work not full on rebuilds
not that im averse to some intense labour i know just how much effort is required
to get bodywork sorted i have done several restorations on 70's American metal
as well as several Land Rovers and only as a bit of a hobby rather than a business.
It would be nice to do it and recoup (some/most) of the cost.

For example This GT4 at 11k
(looks) like it needs a dam good clean and a service maybe a respray there must be
a K or two that could be squeezed out of that.

If that's still around after x-mass i may well buy it anyway just so i can
spray it so it no longer looks like a mk2 esprit

[AndrewW-G]

FranKinFezza said:

For example This GT4 at 11k
(looks) like it needs a dam good clean and a service maybe a respray there must be
a K or two that could be squeezed out of that.]

Given that a decent respray on a GT4 is in the region of £3k and you won’t sell a car for top money without a PERFECT paint job, a full service kit approx £500, waterpump £200, interior refurb £200 etc etc etc and that’s before you’ve had to buy or make any of the more expensive replacement parts, it would be difficult to make money from a GT4 that costs £10-11k.

I've sold 8 resto project 70's/80's Ferraris in the past 12 months, only one to a none trade buyer as the private guys tend to be a bit unrealistic when it comes to costing out their dreams . . . . in this case, even with a sales contract stating that it was a resto project and only fit for scrap, he still complained when the prancing horses faded from his eyes & he realised that Eric Clapton and Nick Mason hadn’t put him on their Christmas card lists and the work he’d priced up in his head for restoration, would be swallowed whole by the cost of replacement body panels and labour for fitting them . . . . . . . before it even hit the paint booth!
If you’re looking at restoring a Ferrari go for it, it will be an interesting challenge and you’ll find Pistonheads a decent source of advice if needed

If you’re looking to make money out of it, you may well be a tad more than disappointed and no doubt cursing the day you saw Wheeler Dealers on sky . . . . . . .that car of course had a HUGE amount more work done to it than seen on TV and all at zero cost on their balance sheet.

To give you a brief example of the horrors lurking in many unloved 70/80's cars at the lower end of the market, this is a small part of the filler I pulled out of the rear of the sills on a GT4 . . . . . the owner thought he'd got a bargain and he'd make money from cleaning it up and selling it on, my advice was ignored and he didn’t