Restoration Costs of Classic Ferraris.

Restoration prices increase as the prices of the restored cars increase, that's experienced also on cars less rare - and less expensive - than old Ferrari.
At first it seems strange that a total restoration will become more expensive just because the car restored is more valuable, but it's also likely that the target quality of the restoration becomes higher - which partially explains the increased price (the rest being the offer and demand market at play).

 

The job is always easy for the person who doesn't have to do it.

 

Steve: In my world the value of the car has little to do with the cost of restoration. Most of the shops mentioned in the above posts work on a "hourly rate". The rate is the same for a Ferrari, Chrysler, Ford or Facel Vega. Many times expensive cars have very hard to find and expensive parts and these costs increase overall restoration cost. In the case of older Ferraris, many times, the cars have been subjected to severe abuses in the past and correcting the errors and bodged previous work makes up a substantial amount of the restoration costs. We just completed a 225 Sport that had been restored by Classiche about 15 years ago. It cost in excess of $190,000 to correct their horrible and incorrect work, then we had to proceed to complete the restoration. Just my opinion, but $800,000 to $1,000,000 for a Pebble Beach quality restoration of a 1950-1960 Ferrari by a "top reputation" shop is a pretty good starting place today.

 

Well, one also has to factor in the time to wait.

 

What must also be added is the hundreds of hours of research, be it for period pictures, documentation, paperwork, etc.
Shops like Paul Russell & Company are worldfamous for enormeous research and they always go the extra mile!

Marcel Massini

 

Parts needed are harder and harder to find. How many driveshafts left in the world ? , distributors ?
etc...absolutely vast amounts of time for research, and a shrinking pool of knowledge.

 

And talent.

The labor pool with the skills required is constantly shrinking and they no long work for gas station wages.

 

I thought... hmm. Maybe 4 or 5 months when I got it.

A year and half later.....
Image Unavailable, Please Login

 

But wait, there's more . . .

 

when i was at the factory in early 2000’s a daytona was there for a total rebuild. i was told the restoration cost was approx 125k euros.

 

I think rising restoration costs are a bit of chicken or egg situation with rising car values. They go hand and hand.

As the cost or restoration rises, the potential buyer understands these costs and then factors that into the shape of the car he's interested in buying.

Rising values of restored cars gives owners the flexibility to spend on unrestored cars that 10 years earlier might not be worth the effort. So more cars get restored and stay around longer. That's a good thing.

At some point though you have too many cars to keep justifying the increased cost of restoration. And I worry that, like what's happened to cars of the 30's and to some degree the 50's, there aren't enough people interested in restoring something made before their time. But I don't think we are near that yet.

There are some technologies though that could reduce restoration costs. Of course we have 3D metal, rubber, and plastic printing. But I've seen a 3D metal panel beating. Let's say you need to beat a new body panel. You scan one or find the file. Put in the appropriate metal and the panel is beat (actually rolled) into shape automatically right down to the millimeter. Some trimming and you have a replacement.

So technology might help reduce costs.

 

What is the labour rate at P Russell or Motion P these days?

 

My local California VW dealer charges $200 x hour

Clearly, I am not a client.

 

[QUOTE="TheMayor, post: 150092631, member: 60154" Put in the appropriate metal and the panel is beat (actually rolled) into shape automatically right down to the millimeter. Some trimming and you have a replacement..[/QUOTE]

Ah yes, but when I took my old car to Pebble Beach in 2008 I asked the judges to specifically run their hands under the fenders to feel the ridges and bumps of the numerous hammer blows which Scaglietti's guys put there when forming the original body. Hard to duplicate that with modern metal forming machinery. Just saying...

Best regards,

Robert

 

Robert, what a great story, as always! You are the prime example of reality checks.

On another page, a modern (sort of) Dino front fender (and a touch of nose) is made from 10+(14?) pieces of sheet metal. It simply cannot be made in 1 piece. Quiltwork.

We had an original one, from McCann, made a copy, it was impossible to replicate with less pieces....and, we have sold Dino body parts to people (pros.)
in the Modena region, that shall remain anonymous. All very satisfied, and at least no one complained about the Chinese sheetmetal.

At least, if they had issues, it was good enough for them.

Regards,
Alberto

 

100 USD in 2013
https://www.usinflationcalculator.com/
Would be 137 USD in 2025

Can we assume this is about correct?

 

Might want to check again. Most big city dealers are far higher than that now. 300-500 is the norm. Costs have gone up. Many independents are 200 or more.

 

I would not. Costs have accelerated.

 

Cost of labor and materials. Anyone know what a gallon of automotive paint costs?

 

Not to mention a gallon of paint is a gallon of paint until it is opened. Then it is a hazardous material, treated and stored as such and every ounce used needs to be kept in a log. Every material used with paint, rags sand paper etc needs to be treated as toxic waste. These types of regulations are in ever facet of this industry.
Insurances have gone through the roof too. If you do any type of plating then it gets really crazy. Plating is an industry the US would like to ban.

 

As of last week....$200

 

And Elvis is still alive.

 

One of the issues is the terminology involved. What is a restoration? To some it means to Pebble Beach standard. To others its a cheap paint job and some fresh seat covers. In my opinion Wayne Carini and his stupid TV show went a long way in creating that confusion.