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SO, through discussions with a local Bmw shop owner I stumbled upon a 67 “hardtop” xke with a 69 engine that’s been sitting since 77! The owner says he has many body panels and the original numbers matching engine on a stand inside. Problem is the car itself is outside with a tarp... so probably not in great shape. However (I’ll post pics further down) my business I’d started in 2014 leads me to really not be afraid of its condition no matter what.
The question is this though, I’m trying to get an idea of what it could be worth and if a fully restored coupe tops out at 100k, how can a rough one be worth 30k? The restoration process would cost WAY more than the peak value would return... thoughts??
i know without pictures valuation is impossible, and while I’ll be going out next week to see it (at which point I’ll snap some pics for you guys) I don’t want to go without being completely informed. As a pile of parts is it worth 5 grand? Is the absolute bottom 20? I sure don’t know haha.
I’m so excited to be back in this forum. My last post was in 2014!!! After I randomly came across a pretty immaculate barn find 71 xj6.. pretty neat car, but at the time I was starting my business which is booming and as luck would have it my current job brought me here!!
the car that brings me here today?
I’m hesitant to say much about this car as it belongs to a customer, but if any of you are curious you can find my business Instagram page here
The question is this though, I’m trying to get an idea of what it could be worth and if a fully restored coupe tops out at 100k, how can a rough one be worth 30k?
First off I didn’t realize I could make a free account there so thanks for making me look twice at that site haha.
secondly though there’s no value for poor condition which I’d have to assume a car that sat for 40 years would be.
Im looking for a real discussion if anyone is interested though, I did my homework and found comparable (possibly) cars from bring a trailer over the last 8 years sellinganywhere from 7500 to 20k. I also decided to add up what most of the larger parts would be worth to place a parts value on it. I’m already having to push my appointment due to crazy weather we’re having but I hope to go check it out soon, at which point I’ll snap some fun photos.
Be careful of using the top price as your finished goal. Sometimes prices paid are more about ego than value. Plus the worlds economy varies. So a steep price paid when the economy is strong may not be met again for a very long time.
Paying others to work on your collector car takes a combination of Trust, knowledge, and condition. Both of the car and the mechanic. As people age their skill may not decrease that much but their output does. Things that would have taken me mere minutes to do a decade or two ago now require a pause or two.
Chances are that the cost of a proper restoration will exceed the value of the vehicle. Coupes are selling for quite a bit less than convertibles. I'd suggest looking through some recent back issues of Octane magazine and you'll find many E types offered up for sale in the back classifieds. I'm at the stage where I just don't think that old cars are worth the money, I'f look at an F type or XK. Cheaper and less headaches, at least initially.
As people age their skill may not decrease that much but their output does. Things that would have taken me mere minutes to do a decade or two ago now require a pause or two.
Words of wisdom. I am better at almost everything I do, just ALLOT slower.
The value of a project car, much like the value of doing a puzzle, isn't in what you can sell it for it is in doing the project. If you are doing this as an investment it is just better to buy cars that are undervalued, do minor work, and sell for a profit. People make money flipping cars but that is very different than wanting a project car to restore and make yours. If you have a lot of free time and want something amazing to show for that time than a project like this, regardless of what you can sell the car for, is worth it. But as an investment, even if you got this car for free, you'd likely spend well more than $100K to make it worth $100K if you have to pay for the work to be done. Be honest with yourself on why you want the car, set a budget that is reasonable, assess your skills, and then decide if you want something like this that requires a massive amount of work is better for you than maybe a car with a wrecked engine or that is otherwise in better shape with problems your skillset can handle.
Here is a car on eBay that looks to be in reasonably good shape, it is cheap because it has a 302 Ford in it and no top (I'm guessing you could offer less than the $51K they are asking). You could leave it as a 302, clean it up, and have a great low-cost driver, or you could build or buy Jaguar engine and do a reverse swap though, if that is your goal, you may have to change back the engine bay (subframe) but all those parts are available and you'll end up with a very clean engine bay. Last time I checked a fully dressed XKE 6 is around $25K, but you can find engines in good shape for less than half that. https://www.ebay.com/itm/1969-Jaguar...IAAOSwO2BehIDI
But in the end these cars make great projects, but if you start with something beyond your skill set, they can also be a massive money hole, a lesson that it has taken me several mistakes to learn. Good luck!
Hey all!! I’m so glad this thread got some traction! I’d just seen an email saying there were a bunch of replies now that I’d missed.
So I more or less forgot about the car for the moment but not forever. The owner is about 70 and not in the best shape but wants to pull the car from its resting place himself, which isn’t going to happen honestly. So, currently I guess I’m just waiting to strike.
I’m glad to hear discussion that’s telling me what I wanted to hear. I’m a young man at 31 and do restoration metal/ bodywork for my living so I COULD do this car up myself... but I know full well the cost of it wouldn’t net much profit in the end..
I think what I was hoping to hear is that the value of these coupes may be going up and by the time I had the body done maybe it would be worth the investment.
of course the other option is parting it out but I hate doing that because it seems so sad to kill a car for good.
The picture at the top is not a coupe, it’s a roadster. Does it have a removable hard top? That will increase it’s value.
Series 1 roadsters start at about $130,000 for a nice driver. But that money usually isn’t achieved by the person doing the restoration work. Buyers spending that sort of money tend to have many detailed questions not just about the quality of the restoration but history and what is unique enough to justify the money. ( it was a $6000 car new) And go up based on how nice and which version etc.
However the parts houses and etc. will quickly eat away at that. It’s relatively easy to buy the wrong parts which doesn’t allow you to maximize the sale price.
03-07-2020, 08:37 AM
Abandoned e type value discussion
