On Wed, 10 Feb 1999 16:05:38 -0500 "Charles F. Inman"
<FloydInman@compuserve.com> writes:
>I'm curious what happens when someone like Tim acquires a T Series
>that will cost, oh, say $20k to restore and yet will have a value of but
>$18k when complete. Does he canibalize it or just send it to the dump.
Easy answer. He doesn't acquire it in the first place. There are still
restorable $4,000 to $6,000 T series cars out there that can be restored
on a budget if you do all the work yourself, like Tim does, without
having to be completely upside down.
I recently bought a TD for a little over $2,000, that just ain't
restorable (no engine, no tranny, chassis cut and welded for a B engine,
bad tub, no gauges, etc., etc.) that I am "cannibalizing" to restore
another. I have also sold many parts to several people that needed them
to restore theirs. Does that make me evil because I didn't spend tens of
thousands more than the thing would be worth in the end to attempt to
restore it? Particularly since it wouldn't even be a good example of the
marque when done? Or am I a saint for helping others get theirs back on
the road? In the end, when I am done I am going to use what's left as
the basis for a vintage racer, so at least its wheels will spin once
more.
What do you mean "someone like Tim" and why are you giving him a hard
time? All he said was that HE wouldn't spend $25,000 to restore a car
worth $15,000. I know Tim (yes, Tim, I will admit it to the world ;-)).
He did a great job on the TD and he has a beautiful TF. Did he have to
spend more than they are worth for them to be beautiful cars or for him
to enjoy them?
I can't afford to buy a $13.9k TD and put $18k of work into it, as
someone else suggested they did. I'm not sure there are many in the MG
hobby that could afford to do that. I also believe that anyone that does
a "checkbook" restoration without doing all possible work themselves
possible is missing out on most of the fun. But do I judge that person
as being "stupid?" Hell no, it is his money, time and joy-- who am I to
judge? If you read Tim's email, he doesn't judge anyone else's approach,
and he certainly doesn't use the word "stupid."
>I'm in the process of restoring a '52 YB for my wife (I drive a TD).
>As we
>speak I have invested around $15,000 with at least another $10,000
>before
>completion. I will have over $25,000 in a car worth around
>$20-22,000.
>Stupid?????
No, but surely you have a threshold. Would you spend $40k, $50k, $60k to
restore a car that is worth $20k when finished?
>Put a financial limit on such pleasure?
Until Donald Trump adopts me, I guess I have to.
>At least (unlike renting a hooker)
As the fellow once said, "Hooking is the perfect business. You got it,
you sell it, you still got it!"
In sum, if Tim doesn't want to spend more than a car is worth restoring
it, and he can get away with it, more power to him. And if someone wants
to write checks and "overrestore" a car to win trophies, more power to
them. There is certainly enough cars to go around.
At least we finally got some traffic on this list!!
David Littlefield
Houston, TX
'62 MGA MkII (Uh, oh, now worth more than I have into it, time for a
$10k paint job!)
'51 MGTD (A lot of time and $ away from being finished, but who cares!)
'88 Jaguar XJ-S V-12 (gotta drive something and it was cheaper than a new
Buick)
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