What is a 1958 Speedster worth

I have an opportunity to buy a 58 Speedster and would like some input on values. Condition is fair and I believe motor is original however have not confirmed. I'm told same owner for 30 years, and 3 total owners. Attached are some pics....
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Trying to upload more pics...
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Limited info, going to see this weekend.
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Your response is appreciated
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I would start printing money - these are not cheap by any stretch of the imagination ... I bought a 55 in 2002 sold it 10 years later and now it would be double what I sold it for - and I was extremely happy when I parted with it. Should have loads of history with the car - who's worked on it - you'll need someone to check it over that knows their 356's for sure ....

 

if you can get a deal...buy it!!!

 

Is $150k a great deal???

 

$200k (possibly less as the bones look pretty decent from what we can see in the pics provided) for a top, top level resto. take it to some big shows. win a few prestigious awards and sell it for > $500k. yes, buy it for $150k but try for $125k!

 

there are a few owners on this site that can best tell you the market and costs to restore to various levels as well as a target acquisition price.

be patient...they will weigh in soon.

 

Looks like the engine out of a late 356, not a 356A.

If the car hasn't been to bare metal and photographed, you don't know the condition of the body. The condition of the body is most of the value of a non-Carrera Speedster, so hard to give you a useful estimate based on these photos. These are difficult and expensive to restore, because all the body panels were originally fitted by hand, with lead used to get the gaps nice and even.

If the body panels (doors, front and rear decklids) have matching numbers (last three digits of the chassis number), that's a plus -- original doors and lids are easier to fit.

I would also confirm that the original seats (steel ones), original bumpers, etc. are included -- expensive or impossible to find, and repro bumpers are hard to fit nicely.

Regardless, hard to lose at $125K-$150K. You could probably sell it to a restoration shop for more than that.

 

They are asking $210, I'm being somewhat hopeful at $150k...and what I'm hearing that's probably the real value as is. Especially if engine is not original to car.
What's a good guesstimate of a full restoration on a car like this one?

 

You don't really know what you have till you take the paint off, unfortunately. These cars rust everywhere; the metalwork is expensive. (The mechanical work isn't too bad, for the pushrod engines.)

I bought mine through a restorer as the starting point for a restoration, and even the guru he sent out to inspect the car prior to buying it (for resale to me) overestimated the condition of the car under its 7 coats of paint.

I think you can plan on $200K to restore a pushrod 356 to a very high level and have a good chance of recouping your investment down the road. Mine took 3 years and about 1,300 hours. You might get it done for less if you're lucky, but after 58-60 years you need to assume the worst.

Another option is to buy it and drive it as is... assuming the mechanicals are OK. At $210K it's being priced as a driver, not a project. Maybe sort it out and enjoy it and then figure out what you want to do.

 

For what it's worth....."Any" Speedster is worth $125K-$150K as a basket case. From there you evaluate what's there. Matching #'s (+/-), body condition and originality (are the opening panels matching numbers, original floors etc). Rust? Original patina? Sight unseen and assuming it drives well, I would say $180K if the body is good. Completely done non-matching #'s around $220K-$250K depending on equipment and colors. These cars make the best outlaws. If it were all matching #'s I would say $210K as-is/$350K-$600K+ full restored depending on colors and equipment. As an example, Bruce Meyers original concours black/black Rudge wheel, Glaspar hardtop '58 Super Speedster, I would put it way north of that. All subjective.

Freeman

P.S. An example of a current for sale ($250K) fully restored/non matching motor concours '58 Speedster: https://www.porsche356registry.org/classifieds/4486

 

OK if we are being subjective: If Bruce Meyer's Speedster may be worth way north of 600K + IMO it would be way south of the Steve McQueen purchased by him when new, restored, Black/Black, original, Rudge wheel Super Speedster (his first race entry) that may garner multi millions should it ever come available (which is highly doubtful as it is still in McQueen family ownership in Chad McQueen's personal stash/collection) that would be the one to take my vote as high buck. It was once owned by Meyer and sold by him back to Steve which Meyer has stated was mistake, obviously regretted ever since and likely served as the driving force for him acquire car in his collection you refer to.

 

The OP should just buy that one.

$210K for an unknown quantity is no bargain, IMHO.

$250K for a "done" Speedster is VERY reasonable. I wouldn't sell mine for that. Way too much blood, sweat and grease getting these sorted.

Here's another non-matching, driver level car asking $279,000: http://www.europeancollectibles.com/inventory_detail_EC.aspx?@page_inv_id=Po3317

 

I agree. I was able to spend some time with Chad and his dad's Speedster. Really special car combined with special ownership. McQueen or special celebrity ownership is a whole other subject!

Freeman
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Seinfeld blue tan Speedster sold for $684k at Amelia. It was a very nice car. I agree, that is a C motor. Front signal lights look like 57 model year. The 58 Speedsters are the T2 which were most advanced. You can check the 5 digit serial number on line for build date and model year. These cars are very collectible and valuable. Good luck.

 

Here's an example of a '58 "driver" non matching #'s Speedster currently asking $225K that's been kicking around:

1958 Porsche 356A Speedster -

I've seen this Speedster in person when the previous owner was trying to sell it last couple of years at our C&C in California. I think he was trying to get $180K. I remember it having some body gap and alignment issues and was vintage raced in the 80's/90's. I drove it. It needed carb work and trans work. It needed a lot but looked like a lot of fun and had potential for the right price. The bodies on these cars can hide a lot of sins and can be really expensive and time consuming to fix.

Freeman

 

"I agree."

Thanks

"McQueen or special celebrity ownership is a whole other subject!"

True but brought up the word subjective. No?

FYI Black 328 GTB in background of your picture long years ago gone and replaced with the orange outlaw 911 ST/RS/hot rod whatever it is that was built by Club Sport of Florida.

 

Here's Chad with his Rgruppe 911.

Freeman
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Yep. Taken in the front of the garage door at his Victoria Point Malibu beach crib no less. Love the shorts and donut eat'n grin.

 

His dad's Slate Grey Turbo is in the background. It sold for $1.95M at auction! About a $1.8M premium for the McQueen celebrity!

Freeman

 

Wisely bought on the cheap at $137,500 Goodings Monterey 2008 by Mike Regalia then well promoted and resold by him for the 1.8 hit at Mecum Monterey 2015 with a nice chunk of the proceeds going to the Boys Republic. You being the P-Wagon fan you are had to have been snoozing on that fateful 2008 Gooding day?

 

Maybe a McQueen premium of approx $1.6mm but not $1.8mm.

 

With the McQueen Speedsters much deeper provenience it certainly would not be surprising for it to break all records and exceed the past McQueen sales applied multiple results without much difficulty.