Weird Dino experience...need advice please.

Its not what it's worth more have you the knowledge to do it. I mean that with the greatest respect too.

Top value cars have to now be restored to such a high standard and attention to detail that there are very few people who can do it.

Look at the blog s / threads from Nuvalori , isuk or omgjon to see what is involved, they have done it and command total respect imo.

Sometimes its actually cheaper to get a resto shop to do it for you. As for value it depends on the car, ie chairs and flares, rarity, history, who owned it etc etc

Tony

 

This isn't an easy answer in a forum, you should go and talk to someone who's done it or is doing it to figure out what you want to do yourself vs. paying to have it done and get an idea of the hours involved based on condition of the car you're looking at.
If it's disassembled, you may have missing or incorrect parts which can be very painful.
It's a big time/money commitment in any case...

To answer your question, let's say it's a market $400k car when done nicely and you spent $200k on it.
So you should obviously buy it for alot less than the difference, depends how you value your time and willingness to chase missing parts.

 

I bought my car a year ago and this winter I’m replacing bushings, overhauling brakes and addressing leaks – routine maintenance for a 40 year old car. I haven’t run into anything that makes me feel that someone with talent and an exposure to restoration work on these cars.

The drawback for you is that the car is apart. I’m taking pictures as I go and logging items into memory. A real plus is that on this site OMGJON and others have pictorial logs of every part of these cars – it’s a gold mine of information. But, as mentioned before, you may not have all the parts, and parts come at a premium.

I love cars that are nicely restored cars without the incredible detail that you will see on this site. I intend to maintain my car as a driver and a $200,000 restoration would only ruin it for me – I guess I'm fortunate that I don't have that kind of budget.

 

Do you plan to do the easy work (suspension, brakes, taking parts to specialists for certain things) yourself and rebuild it to a quality level you will feel comfortable driving, or do you want an every nut and bolt perfect concours car?

If the latter you would have to get the car very cheaply indeed for it to make sense. Otherwise some professional shop would have already bought the car to restore and flip.

 

I bought a dino in parts from US a year ago, checked very carefully and had most parts (that took 1 week!). however a lot of parts transpired to be incorrect (for other Ferrari models) or worn out. its gets very expensive. the cylinder heads were the big problem on my car, one was actually from the wrong car. Bought a replacement from dino parts which is only suitable for the bin. bought another from Italy which had to be re-machined. That added £20K to my spend! So in answer to your question assuming all the parts are there is a big assumption! Very carefully work back from the market value. My restoration has cost a lot more than $200K.

 

Where is the car located?

Pietro

 

I'd contact OMGjon and ask him what he would charge then think his experience over the last 10 (or more ?) cars that he has done would be the most valuable information ever. His lessons learned is the valuable asset beyond quantification.

Back tracking and re-doing on any project represents a loss of time and money making OMGjon's always-forward progress an essential (don't ask me how I know...). He is developing quite a brand name.

FYI - These cars are rust buckets and eventually that must be dealt with. There are three major water traps that rot from the inside out and every panel was only been painted on the outside leaving the interior to surface rust from the inside out. OMGjon has the right plan to abate this and I'll bet he can surmize the parts you have in the crates by looking at them. People contact him to do their projects, not the other way around and as the old saying goes "The best don't advertise"

 

Take the value of what the Car is worth Now (circa $350k I guess), $200k for a resto sounds right to do it right, which means you can pay something around $150k and not be underwater at the back end. That assumes the bubble we are in doesn't burst in the mean time. your mileage may vary.

 

If it all there it is worth way more than 100k

 

Omgjon has a place in Austin now, so maybe you could get his review on the deal??

Tx246 is our other resident expert on the model, he's here in Houston.

 

But as your story shows, there's "a reason" it is in pieces.....and that's a big unknown, unless the engine damage is obvious....

 

Well, we are all awaiting an update???

 

Still waiting!

 

But do people actually do that? Do they really invest $350K and then say, "OK, now it's time to drive it and decrease its value by $100K" ? I suspect once these cars become concours perfect they become garage queens that no longer provide the pleasures of road driving.

[/QUOTE]Given the math I wouldn't pay more than $100k for the car as is. There would be no room for the expected WTF surprises. [/QUOTE]

That I agree with unless you plan to do most of the work yourself and can be happy with that quality.