Soliciting Opinions on a early 911 restoration

Hi guys - I am hoping I can get some feedback on a car I am considering buying as my next restoration project. It's a 1967 911, silver in color, black interior. I have only done a visual on the car and have found the following:

its rusty on the exterior, spot rust mostly, though the sheet metal in some areas, nothing structural from what I can see (not near as bad as my 914 was), needs rear floorpan

Engine was running 2 years ago, but I have not cranked it yet. Webers look good, no crap on the inside, major tune up parts are new.

Needs all new rubber (including tires)

Tranny shifts into all gears, but not sure of function till I run the engine.

Interior looks good, could use a little TLC

Here's the good part: has original steel wheels with hubcaps, but comes with 2 sets of Fuchs (thats right 8 rims!)

The guy wanted $4000 for the car a couple months ago. Now its still sitting on the street in front of his house (to his wife and neighbors dismay) and he wants $2500. I have a 914 under resto in my shop now, and a 356/B in the garage waiting for the finishing touches (99.9% complete, just minor repairs). I am considering this 911 for my next project, or for taking the engine and making a 914/6 conversion out of it.

Any thoughts on the price and restoration complexity as compared to the value of a restored '67 911? Anything else to beware of?

Any response is appreciated.

I take it it is not an "S".

And the rust sounds like it might be more severe that you think. Where there is that type of smoke, there is usually a major fire raging underneath!

If you can't get the engine running, who knows? But, chances are given that it is a 34 year old engine, it is going to need some work.

Based on your description (rust, unknown mechanicals), I think there is little doubt that you will spend at least 2X what the car will be worth when you're done, if you're lucky. Maybe 3-4x. A 67 S is can be worth some $$$ to collectors as its the first year of the S, but a non-S '67 doesn't really have any special value.

Did somebody say rust? Hmmm, sounds familiar...

Front A-arm mounts, floorpan under pedal box, rear seat area, firewall-just a few areas to look for rust. If it's really bad, yank the motor and drop it into the 914 (then sell me the transaxle if it's got a limited slip). Parts for the front suspension are going to be EXPENSIVE. If you just plan on restoring it and it's not a complete rust bucket, $2500 probably isin't too bad-but if you're looking for a race builder chassis, look around for a '69 or later 912-longer wheelbase chassis, easier to find parts for (and upgrade), and 912's are cheap-even the restored ones.
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Clay McGuill '66 912, '97 Jeep Cherokee www.geocities.com/the912guy

[This message has been edited by ClayMcguill (edited 05-11-2001).]