Where is the value in hot rod builds or restomod work?

[rxtrom]

This forum seemed like a good fit, and please excuse the ignorance. I have been thinking about this for a while and hoping someone can walk me through the potential expense and pitfalls in a new build.

I have a driver 71T with a 2.7 motor. No rust, but it has had a poor repaint in a non original color. I paid 40k for it, about 8 months ago. I figured I would drive it around for the summer and see how this long hood panned out. I did not get that chance and long story short I pulled the engine and it is in the process of a rebuild with 2.7RS P/Cs and E cams, PMO headers etc.. A real textbook slippery slope.

Now I am looking at the body and chassis and ask myself why not give it a repaint and some RS flares, LED headlights, fiberglass bumpers, elephant racing suspension, and on and on I go.

So far I have estimated the "restomod" build would cost me about 115k with some help from a local shop. Counting the cost of the car I am over 150k, plus some (expected), unexpected costs probably closer to 175k all in.

I see a lot of top notch build threads and a bunch of handy pelicans but everyone cant be spending over 100k in builds right? There is no way all that money comes back at a time of sale or in smiles down the road. Does it?

The depreciation on a build like this is about worse that buying a new 911, but the family would be more comfortable with the drive and with climate control.

[nathanbs]

It does cost that much unless you do it all yourself like some of the builds you might follow on here like jimtweet. This is why we’ll sorted ones often times sell over $100k

[trader220]

Here is a perfect example:

http://forums.pelicanparts.com/porsche-cars-sale/1008033-911-rs-2-7-tribute-viper-green-incredible-build-just-completed.html


According to the seller there is $150k in it. Now offered at $129k

[1979-930]

The only guy making money on RSR replica backdates isn't putting a whole lot of money into the builds. All of the money goes to body and interior and he does most of the labor. You get the look right and people don't even notice the power plant and suspension are mediocre.
If you build a truly high end car you will loose money when the sale happens.

You only build a restomod or hotrod if it's your dream car to drive and enjoy.
And can you take that money, light it on fire and not be financially strapped after?

[trader220]

Its a tough business and you have to be on top of all the costs. If you can produce a high quality product and sell it for less than about $125 to $135 k and still make a profit that justifies the effort you might have a business.

[Matt Monson]

The only way it pays is to be the builder. If you are cutting checks for someone else to do the work they make the money.

[rxtrom]

Thanks for all the feedback! Setting money on fire is definitely NOT what I want to do.

I have seen that VIPER green one before, it is interesting that they did the build themselves and are selling at a loss? oops.

Some proper builds on BaT go well above what I would be willing to pay, especially when I didn't get to chose paint or interior.

[Cornerlot]

Keep it narrow hipped, gives it mean look. Otherwise it will look like every other backdated SC/Carrera.

[specialtyoneinc]

Originally Posted by Matt Monson

The only way it pays is to be the builder. If you are cutting checks for someone else to do the work they make the money.

This ^. The build would have to be pretty special if you want to get your money back. I would personally keep it narrow body with SC flares.

This one did well for a backdate. Probably cost more to build though.

https://bringatrailer.com/listing/1974-porsche-911-24/

[speednme1]

Originally Posted by 1979-930

The only guy making money on RSR replica backdates isn't putting a whole lot of money into the builds. All of the money goes to body and interior and he does most of the labor. You get the look right and people don't even notice the power plant and suspension are mediocre.
If you build a truly high end car you will loose money when the sale happens.

You only build a restomod or hotrod if it's your dream car to drive and enjoy.
And can you take that money, light it on fire and not be financially strapped after?

I agree, how can some of these builders get top dollar with the heart of the car (engine) and suspension basically being stock. I remember talking with a reseller of these builds and he couldn’t believe the type of money he was getting for them. That’s not to say that every now and then an excellent complete build (that includes engine and suspension upgrades) hits the market and may demand top dollar but a “look” should not be compared to the exceptional ones.

[Mike964_61]

I would say if this a passion project ie, something you have always dreamed of go for it. If not sounds like you know what it will cost. Dollars and sense at this point. If you have the bank account to support the build and you are not concerned about money go nuts. If you want the most bang for your buck? I would do a driver quality repaint because isn't that what you want to do with it anyway drive it and do your hot rod motor. Then just drive it like you stole it every chance you get.

[juanbenae]

Originally Posted by Cornerlot

Keep it narrow hipped, gives it mean look. Otherwise it will look like every other backdated SC/Carrera.

^^^ this. I wish my 75 had not had/has SC flares in place. they were done decently, but it's all too common these days for narrow body cars to be "updated" with flares. I think the narrow body cars are now so few and far between that the uniqueness makes them appealing.

[ab1752]

What everyone else above said is bang on 100%. I did a restoration on my 240Z that got entirely out of hand, including the car I'm probably into this thing for $80K or more. It is a '73 which is the less desirable of the series, does not have the original block, transmission or differential but the body, fasteners and suspension is at an OCD level of originality.

I figure I am at least 50% off any financial recovery and that does not even come close to the 100's of hours of my own time. But here's the deal; I did this car for myself, it is awesome and I love just staring at it so that takes all of the financial sting away and I have no intention of ever selling it.

If I had a hotrod 911 I'd keep that thing forever too.

[Macroni]

I have done two six figure builds as a check book mechanic.... incredibly rewarding and I have to say I got 80% of every dollar spent back out..... You need to decide why you are doing it. Are you doing it to eek out every bit of performance and the corresponding rush, are you building it for Cars and Coffee or are you building it to flip.

If it is performance you can keep it inexpensive ($25K to $50K); drive train, suspension, wheels, tires and brakes.... a good sport seat to hold you in...… Cars & Coffee takes it up a notch to bodywork, paint ($25K) and interior ($10K).....

But......

Your tone makes me think this would not be a good project for you. I would sell it and buy a modern car....

[rxtrom]

This is all great feedback!

Macroni, great question on the "why". I have never been to a cars and coffee, but would definitely go if my schedule ever allows. The closest thing I have been is the Hershey swap, several years, which is insane. I would definitely put my car in the corral for voting, but that is not the main driver here. A passion project is far from that too. I just enjoy the classic look, rarity/uniqueness, lightweight performance, subtle "Porsche" and not the flashy modern Porsche that may get all the attention. Something classic but shiny to jump into and go to the beach, grocery store or away for the weekend, with or without the kids.
Definitely am not a flipper, but the conservative spender in me would like to somehow recoup the $$$ should an emergency arise or life changes direction. Which is the worry that had me start this thread.

Oh, and it all started bc I love to tinker and the tinkering of the poorly working WUR lead to tearing out the CIS and then the engine. =) and here we are... I did not want to become a check book mechanic but something major like this will lend itself to getting done on a better timetable that way.

[Macroni]

Originally Posted by rxtrom

and here we are....

You will get a ton of advice from the well thought out peanut gallery that hangs here no doubt...… My two cents.... get it mechanically sorted then go for cosmetics...…. unless you have rust...… then..... fix the rust first...… then mechanically sorted...… then beautification for the masses......

[Matt Monson]

I’ve got a new set of RS P&C for sale, if you haven’t found a set yet.

[NYNick]

Shop around for $175,000 911 hot rods (or even $175K Porsches) and see what you find. I have a hunch you won't find much in that price range. The question is why?

It's because some really, really great cars can be had for less. In fact, you'll be lucky to get 80 cents on the dollar when (and if!) you go to sell. $175,000 is a lot of money to spend on a 911.

This isn't necessarily a bad thing if you're doing it for entertainment purposes. Many of us spend more money on our cars than they're worth because we can, and we think it's fun to build them the way we want, ROI be damned. You only live once.

If money isn't the number one factor, I say knock your lights out and go full tilt boogey with your eyes wide open. It'll be your car your way. That's cool, just not profitable.

Have fun.

[rxtrom]

Originally Posted by Matt Monson

I’ve got a new set of RS P&C for sale, if you haven’t found a set yet.

I have almost all the engine parts already but thank you anyway.

Originally Posted by NYNick

Shop around for $175,000 911 hot rods (or even $175K Porsches) and see what you find. I have a hunch you won't find much in that price range. The question is why?

It's because some really, really great cars can be had for less. In fact, you'll be lucky to get 80 cents on the dollar when (and if!) you go to sell. $175,000 is a lot of money to spend on a 911.

This isn't necessarily a bad thing if you're doing it for entertainment purposes. Many of us spend more money on our cars than they're worth because we can, and we think it's fun to build them the way we want, ROI be damned. You only live once.

If money isn't the number one factor, I say knock your lights out and go full tilt boogey with your eyes wide open. It'll be your car your way. That's cool, just not profitable.

Have fun.

Good points. I am really glad I posted this question. Thank you to all who replied. I have to reevaluate all options here.. the good thing is I only have the engine parts paid for and have not gone too far down this 175k path.

BTW no rust on the body, someone asked that question earlier.

[Matt Monson]

Finish the engine and drive it for a while. Sounds like you haven't even had a chance to gel with the car yet. Get it back on its feet and enjoy it. If you find a love connection you can always go down the rabbit hole later. They aren't going to crash in value. So many of us have multi-year projects, even if we checkbook something. Paint and body on my 74 was done 2 years ago and I'm just now getting around to the engine on it.