|
I think the shop you are talking to is off the mark by a bit. You can spend $8-10k on either paint and body or an engine rebuild, but no both. It's got all three strikes against it, exterior, interior and mechanical. That car is a prime candidate for a racecar. Those are the only guys putting $25-30k into a $10k SC. Their value is rising but unless its a labor of love its not sound money at least in the short term.
I say short term because I was only a decade ago that people said you were crazy to spend $40k to restore a Speedster that was only worth $45k when done. But the market caught up to them and they are worth hundreds of thousands.
5 years ago that was the longnoses. Today I saw a '73 Euro T in the classifieds for $174!!! There's a chance in 5-10 years and SC will be a $100k car. It's a slim chance that I wouldn't bet on. Though I think it's a safe bet they will be $40-50k in 5 years. The real problem is a 200k mi car will always be a hard sell even if restored perfectly. Only buy it if you want a long term car to make your own and are sure you won't have to dump out of it in the near term and lose a bunch of $$.
|