Selling a project car... advice?

Zeke · 06-04-2010, 05:07 PM

My '88 will come on the block sooner or later. It's a high, high mileage car with no engine work done since new. Lots of maintenance and some new parts like a clutch upgrade, but it's a smoker on start up. I have records back to day one.

Now, I'm not annal at all about smoke. The car runs very well, shifts great and everything works but the A/C. I understand that even though I feel that way, the car will sell at a significantly lower price, like 10K less than someone's perfect wet dream.

Since I recently had a minor collision involving the rear end, there is some repair to do. I have a complete set of bumpers with all the trimmings that I can install and replace the tail light lens and the car is then basically very nice on the outside.

Except...... the driver's door is dented up pretty good. Again, I have a newly painted door shell that will hang on the car and I transfer the innards to complete the exterior repairs.

I did get some settlement money from the other driver to repair the rear.

But, here's the question: better to sell the car at even less and make up the loss with my settlement, or spend it all to make it nice still having that tired motor?

Oh, if you happen to know about my custom bumpers presently on the car, they don't go with the car. For all intents and purposes, consider the car bone stock.

I can sell it with the stock bumpers in a box. I could maybe let this car go for a solid 10k if I do nothing. It would be 13k if the money goes back into the car.

Either way, I'm getting the same money. How do you see it?

Here's the car the day I got it. It now has 16" Fuchs instead of the Fikses.
Back in Black: The ride home.

Seeing that, I may want to keep the car. I had some fun in this car.

biosurfer1 · 06-05-2010, 02:08 PM

I think it would depend greatly on how much it will be to make the repairs. If you can do it yourself, it's a no brainer. I always feel the less things on a car that need an explanation, the easier it is to sell. I never understand why some people try to sell cars that have something along the lines of "this or that needs to be fixed but its an easy fix".

If the car needs a shop and a couple $K's in work, you probably won't get out of the repair what you put in.

GL with the sale

Zeke · 06-05-2010, 02:25 PM

I agree with you about the easy fix stuff. Why not just do it? And, as I do, the price goes up. That's the only reason I can think of for someone to get in as cheap as possible, he will "make the car His own" by taking care of small issues.

OTOH, if the buyer can do perfunctory bodywork, he makes out much better. There's not even any painting necessary. You see, it's all the same to me, pay the bodyshop, or discount the car by that amount. Right now, it sits as cheap as it ever will.

g_vaxed · 06-06-2010, 06:53 AM

awww man, say it ain't so....! I hate to see any 911 sold (for any reason). Please tell us you plan on getting another one down the line. Your bumper upgrades on that car are incredible! FWIW, good luck with the sale (only if your getting another one)...;-)

Zeke · 06-06-2010, 07:59 AM

Quote:

Originally Posted by g_vaxed

awww man, say it ain't so....! I hate to see any 911 sold (for any reason). Please tell us you plan on getting another one down the line. Your bumper upgrades on that car are incredible! FWIW, good luck with the sale (only if your getting another one)...;-)

Nope. I'm tired of Porsches. I'm tired of cars.

Matt Monson · 06-07-2010, 10:11 AM

Quote:

Originally Posted by milt

Nope. I'm tired of Porsches. I'm tired of cars.

That's too bad. I was gonna ask if you wanted to trade it for my '68 911t. It's a great little Sunday cruiser...

As for your other questions, I would definitely do the bumper, lights and door. It's 8-10 hours of your time with a $2000-3000 increase in value on the car. It's a no brainer to me.

Christien · Christien's Garage

My experience is that it's damn near impossible to sell a car that isn't perfect, even at a nice discount. I think it depends on who you're marketing the car to, and how fast you want to move it. If you're in no rush and it's aimed at the classic/vintage/collector market, like most of us here, then leave it and let someone take advantage of the low price to make it their own. But that's a small market (compared to the sports-car-buying general population), and an even smaller segment of that small market that's willing to take work on themselves. So it may take a fair amount of time for the right buyer to come along. If you want to market it to the larger market, it will never move if it needs work, especially body work.

I took the route of aiming my car at the smaller market, with a few things to DIY but (what I thought was) a killer deal. No serious bites at all. Either people were scared off by the things that needed work or they wanted it at a ridiculously low price, citing the amount of work as reason to bargain at lower prices, even though I had taken that into consideration in setting my price. (It was set at Bruce Anderson's mid-range values, and even came with a spare running motor).

To top it all off, it's very much a buyer's market right now. The peak of the spring selling season is quickly passing, and prices will start coming down after another 30 days or so.

Zeke · 06-08-2010, 08:05 AM

Thanks for the advice. I think you guys know from your experiences.

The weird thing is, I'm getting inquires on the side. I'm sure the tire kickers are out there with little to do and I'm sure there will be some low ball offers.

No offers from local folks though. It's a new world, I guess. I've never bought a car more than 10 miles from my house.

umfan866 · umfan866's Garage

Milt,

If I were in your shoes, and I could get 10k, I would take the money and run. You could and should sell your custom bumper(s) separately, and give the buyer the parts but don't put them on. In the meantime with a car with 240k + miles on the engine, and body work needed, and it has been in an accident, it's almost like you have a roller (3.5k) with a free engine that runs for now and could be a good core(4k?), and body panel parts/bumper parts thrown in (2k) to make the car decent and some A/C parts (.5k). Thats about 9k. I myself am looking for a "deal" and if I didn't have small kids and a wife who would divorce me if I bought a project 911 I might be interested... but instead I am focusing on 911's costing 15-20k that already have a rebuild, a clutch, and a paint job done (if needed) - since I could easily end up spending the same amount just getting an 8k car up to speed. Or you could just keep all the parts, do the work yourself over time, and hold the car for another 10 years until just the shell and parts increase in value (e.g if you car was a 356, it'd be worth a lot as is, just due to the fact that there are very few left of any type or in any condition). All the best. Marvin.

Want to be · 02:00 PM

I am searching for a high mileage car and it does not need to be cosmetically perfect. Please PM me when time permits.

If it runs , this might be the car we are looking for.

Our goal is to make the 911 into a race car for PCA events and other track days.

thanks jpc

Zeke · 06-21-2010, 11:15 AM

Update: the car is in the shop. The damage is not life threatening to the car and it wasn't a virgin to begin with. But, it's more valuable than a roller and maybe too good for a race car. the bumpers are now hanging in the rafters and stock parts being readied for installation.

What it would be perfect for is a 3.6 transplant. $4000 for the running 3.2 and 9K for a good 3.6 plus some labor and conversion parts. I'd say if I got around 11K for a real nice looking car (all the bodywork will be taken car of), the buyer with the 3.6 will be in it for around 16K.

That's a good position to be in for that kind of power.

I won't send out any PM's for the moment and I bet when I get to it, I can sell it locally for my number.

Zeke · 06-22-2010, 02:01 PM

The total damage is being repaired for $573.

Want to be · 06-22-2010, 03:20 PM

PM sent with offer. thanks jpc

umfan866 · umfan866's Garage

So milt - you taking the offer? Man if I didn't have a family I'd buy your car and take that class on how to rebuild your own engine, and learn to do all the repairs (buy Wayne's book of course).. but my wife is only supportive of a 911 purchase unless it is all sorted out... but these guys here are your best market....