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Re: I added up the $$ for the resto of my '65 Satellite...
[Re: 72N96RR]
#1721808
01/06/15 03:11 PM
01/06/15 03:11 PM
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Joined: Feb 2003
Posts: 18,582
Rust Belt, SW PA
Silver70
I Live Here
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I Live Here
Joined: Feb 2003
Posts: 18,582
Rust Belt, SW PA
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Quote:
Where are those guys that insist they can do a full restoration for under 10 grand!! 
I've built all of my cars for under 10k. I built a 70 runner for under 5k, 70 challenger for 8k... list goes on. I do 99% of the work myself, except rebuild transmissions. Half the fun to me is searching for deals on parts.
68 Road Runner, 69 Belvedere, 71 Challenger Vert
340 barracuda, 01 Ram CTD, 95 Ram, 04 Ram, 85 Daytona turbo Z
66 GTO, 06 Magnum RT AWD. 07 Ram CTD, 07 Ram
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Re: I added up the $$ for the resto of my '65 Satellite...
[Re: 67SATisfaction]
#1721809
01/06/15 03:28 PM
01/06/15 03:28 PM
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Joined: Feb 2003
Posts: 16,161
Mesa, Arizona
dart4forte
I Live Here
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I Live Here
Joined: Feb 2003
Posts: 16,161
Mesa, Arizona
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Quote:
It has been said over and over to buy a restored car vs doing it yourself..
Well, here are the numbers! Upside down, but not really that bad… I'm not upset in the least. It's just interesting to know right down to the dollar. And someday when I sell the car, my tax accountant will be delighted to use the loss and offset some income..
$3,500 = March 2006 purchase price of worn out 1965 Plymouth Satellite, heavily optioned, 361/2bbl w/console shift 727, 2.76 rear end. AC, power windows, tinted glass, bumper guards, dash clock, courtesy light package. Love the car.
$26,698.83 = November 2006 to Now gross total expenses of restoration. I farmed out engine rebuild, tranny rebuild, all body work, and rechroming. Engine upped to 9.4:1. Body got new trunk pan and QP arches, new paint, new glass and new vinyl top. All the parts and pieces I bought. NOTE: I put no value on my own labor for all disassembly and re-assembly, all scraping, priming and POR-15'ing underneath, all my own suspension work, interior, dash, instruments, straighten and polished brightwork, rebuilt power windows, etc, etc (excluding I couldn't find the receipts for rechroming the bumpers, I recall it was about $450 for both0.
$1,440.00 = Income from eBaying leftover parts, trim, stainless, interior, etc.
$28,758.83 - Net cost to date.
vs
$26,500 - Current negotiated "agreed value" insurance policy. I'm thinking it would sell for $2-3k less on the market today.
So for rough purposes my "net loss" is at least $2,238.83, more like $4,000 - excluding 6 years of my labor and rechroming the bumpers....
Whew...! Would I do it again? Probably, yes. The car is awesome, and I'm proud of what I put into it.
Cheers,
- Art
BEFORE:
This kid is now 11 years old…
AFTER:
Being almost finished with the third resto in 10 years I can tell you if it's the money that's an issue I should of taken up knitting as a hobby.
We were talking about this same subject last night with some Canadian friends. 10-20 years ago materials, labor, parts were a lot cheaper. Now, you add a piss poor economy causing everything in terms of cost to rise things are a bit more pricy. Look at just the paint and materials. Just the paint alone (if you are looking for quality) is almost 2K at a minimum and it goes up from there. You add the materials, labor, paying for the heat and lights and all the other nit noid things the cost shoots upward rather quickly.
If you have 26K into that car and you are satisfied with the final product, forget the money aspect, go enjoy the car and have fun.
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