Ron,
I would say that 90% of the people who buy such a car and buying it as they “think” they can do it cheaper than just going out and buying one done. It is not about making money. It is about not wasting money.
One can go find a good, not restored, unit for something like $25K to $35K that is all there. If one looks really hard they may find one that has never been messed with much. If the point is to do a restoration and enjoy the pride of ownership,
then start with a much better and cost-effective core.
I do not buy cars for their future sales value, but I also do not want to waste money either.
Case in point. I went looking for a 1958 to 1959 Chrysler or Desoto 4 door hard top or a 1958 to 1952 Imperial. I spent 24 months looking. I must have looked at a dozen cars. Most were either junk or overpriced for what was there. Many
had recent, last 10 years, paint jobs with zero documentation as to the body condition. People just asked that I take on faith what was under it. In the camera age that is crap.
I looked and passed and looked and pasted. The recent ’64 300K purchase is a case in point. If one is willing to wait and very good core can be found at a fair price. Instead of a 4 door hard top, I ended up with a 2-door hardtop. Flexibility
on year make and model for the right car is not a bad thing.
Cars like the one in the link are as I said honey pots. They look good to people who have never done a car, but they are bad values in both time and money.
I spent about 5 years, around 3000-man hours, restoring my ’49 Desoto convertible. It will never be worth what I spent on it. But since it has a connection to my childhood, I did not care. But even doing all the work myself, a true down
to the smallest part restoration, I have about $60K to $80K into it not including my labor. Just the cost of materials, machine shop, paint and upholstery. I have several friends who has have the same experiences in the last 10 years. We joke that a desirable
convertible to a grocery 4 door sedan all cost the same to a restoration on. Better to spend the time and money on a convertible…
If someone does not have the resources and want a car to tinker with, then a car such as the one in the link is fine. But anyone going down thar path should not kid themselves on the time and money involved if they want a true restoration.
James
From: Ron Waters <ronbo97@xxxxxxxxxxx>
Sent: Friday, December 23, 2022 10:52
To: James Douglas <jdd@xxxxxxxxxx>; 'jwheath68' <jwheath68@xxxxxxxxx>
Cc: chrysler-300-club-international@xxxxxxxxxxxxxxxx
Subject: RE: {Chrysler 300} Possible 56 B project for sale in California
>Given the fact that the average selling price of a 300B is about $50K and a concourse on is up for auction for $100K, why would anyone bother?
Well, for some people this is a hobby. So they don't care if the car is worth 50K, 75K or 99¢. It's pride of workmanship. And as a bonus, when you're finished, you can drive it around
town or cross country.
If people are looking for a profitable investment, buy real estate.
Happy Holidays,
Ron
From: 'James Douglas' via Chrysler 300 Club International [mailto:chrysler-300-club-international@xxxxxxxxxxxxxxxx]
Sent: Friday, December 23, 2022 1:35 PM
To: jwheath68; Chrysler 300 Club International
Subject: RE: {Chrysler 300} Possible 56 B project for sale in California
I really wonder about cars like this.
It has been so taken apart that just finding all the correct nuts and bolts may become an issue. Very few people actually bag and tag everything. Even those that do still inevitable loose a few things.
Even if 90% of the chrome has been redone, and who knows if it was done well, that last 10% can cost a lot to find and then plate and then the plating may not match.
The body has primer and has sat for years meaning that rust can get under the primer. The entire car has to be blasted to bare metal just to see what is under it.
There is no way to restore this car for less than about $75K and that is if one does all the work except the final paint and upholstery themselves.
Given the fact that the average selling price of a 300B is about $50K and a concourse on is up for auction for $100K, why would anyone bother?
Cars like this are honey traps for people who do not know any better.
My 2 cents worth.
James
https://sfbay.craigslist.org/nby/cto/7565451242.html
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