Value of a 68 911S project?

[deathpunk dan]

I really need *another* car that doesn't run , so I emailed a guy about the 1968 911S he is considering selling.

Here's what he had to say:

"The car is in fairly original condition but the transmission was changed to a later version, I still have the original box. The motor is original except for updated tensioners. I think it needs a valve as it had a skip that I couldn't clear. It hasn't been run in about 3 years. I bought the car in Europe in the mid 80's and brought it back to xxxxxxxx.

It was resprayed sometime in the early 80's and is shiney but not perfect. It has a dent on the left rear quarter when the wheel came off one day. It was registered for a short time and driven infrequenty. I can't remember the miles but think it was under 100k kilometers. I have had it stored for about 6 years and it did get some damage from moisture. It had the front pan replaced about 7 years ago the floors have some tiny holes starting to pop through. The rear seat area was patched.

The sills need the heater tubes redone and maybe some sill work also as there is rust in there. The carpets and headliner were redone about 10-12 years ago. The guages have some rust on the facia rings from moisture. I was always missing the sunroof switch. Interior was never immaculate. Brakes, and shocks were new about 8-9 years ago and has only a few hundred miles on them. I have had it stored well the past few years but before that it wasn't stored well and deteriorated over a few years of poor storage."

It is a real 68 S, not a converted L or T. I realize the market has softened considerably, but at what price point would it make sense to pick this up for long term repair and investment purposes?

Your thoughts are welcome.

[Macroni]

Sounds like it needs to be totally restored. I would look to pay around $10k +/-. Even at that price point you would probably be upside down after restoration as you can buy a very nice numbers matching S for around $40k presently.

Ss still are selling for a premium [$70k+] but they are cars with high marks for originality and documented histories.

[John Schaefer]

I know of a private and unadvertised sale of a mostly unrestored '68S that was a couple notches better (it is very original, but somewhat tired) than the car you are describing that happened last week @ just under $40K. The buyer thought he was getting a good deal and the seller thought he left some money on the table. Solid SWB 911S cars are few and far between. Sounds like the rust issues are the fly in the ointment for your car.

[Macroni]

Originally Posted by John Schaefer

Solid SWB 911S cars are few and far between.

Very good point.

[budge96]

Luke and John know much better than most although these days basically complete ,numbers
matching SWB '67,and likely rarer '68S cars are getting as difficult to find as hens teeth...
This car with elec sunroof would be a particularly nice find for any collectoer both for rareity,and options.
If the cars is anywhere near complete in it's components and not any rust through in pan or
floor I'd venture even in this market on ebay you'd get 17.5-20K..
I wouldn't pay that to get it but it could feasibly sell in that range. I guesss thats to say,if
it could be obtained under that figure or say 15k or less you would walk in with equity!
I personally have a very sweet blood orange '68 S with twin plug heads and sports and
wouldn't part with it under 65K! So there ya go ...boy's have at it ! Bert

[Monza_dh]

Here's one for you:


'68 S
http://forums.pelicanparts.com/showthread.php?t=439373

[budge96]

OOOOOHHHHHH yYYYYYEEEAAAAHHHH.....thats a keeper! SweeTTT

[Macroni]

Originally Posted by budge96

ooooohhhhhh yyyyyyeeeaaaahhhh.....thats a keeper! Sweettt

+1

[Soterik]

A 67S number matching car that is so full of rot that the only thing still holding it together is the rust and what's left of the paint sold on ebay a few weeks ago for $10K. It did NOT have the 4.5 fuchs or the 67S one year only deco. It didn't have headlights, taillights, etc. It was essentially a shell of a car with it's original ID tag, engine (frozen shut), and gearbox.

I know...as I sold the car to the ebay "seller" a little over a year ago...

This is an easy $20K car in "this economic climate".... as there are plenty of real car collectors willing to add to their collections a very rare and valuable car. It's not upside down at $20K, even now....

Eric

[Macroni]

If it is indeed the blue 68S listed here it is worth well over the 10k I quoted. But I still believe proper restoration is a pricey proposition. the Auto Kennel E has $95,000 tide up in it and it is a 44,000 mile car. Restoration costs are the same for an S, T or E. Can it be done for less? Of course. To what level of quality? I do think the declining euro is squeezing values.

[budge96]

Has anyone gotten a price on this peach yet?

[John Schaefer]

I emailed the seller before I came across this thread as I found the car more than interesting. He responded this morning, and it reads to me like he/she is watching this thread as to it's value. The response was...

John,
Price would be ver $15k- here are more details:
The car is in fairly original condition but the transmission was changed to a later version, I still have the original box. The motor is original except for updated tensioners. I think it needs a valve as it had a skip that I couldn't clear. It hasn't been run in about 3 years. I bought the car in Europe in the mid 80's and brought it back to Boston. It was resprayed sometime in the early 80's and is shiney but not perfect. It has a dent on the left rear quarter when the wheel came off one day. It was registered for a short time and driven infrequenty. I can't remember the miles but think it was under 100k kilometers. I have had it stored for about 6 years and it did get some damage from moisture. It had the front pan replaced about 7 years ago the floors have some tiny holes starting to pop through. The rear seat area was patched. The sills need the heater tubes redone and maybe some sill work also as there is rust in there. The carpets and headliner were redone about 10-12 years ago. The guages have some rust on the facia rings from moisture. I was always missing the sunroof switch. Interior was never immaculate. Brakes, and shocks were new about 8-9 years ago and has only a few hundred miles on them. I have had it stored well the past few years but before that it wasn't stored well and deteriorated over a few years of poor storage.
I am going to get some more current photos and check mileage etc. I have had a lot of interest and would like to narrow down potential buyers. I am trying to have an informed conversation as to it's market value. I know they went way up recently but understand the economic climate has changed and the car does need work. - End

I would assume the seller sent this info to other potential buyers so I thought I would share it with you all. I have had bad luck with the "more than $xxxx" priced cars. I get my brain picked and then they sell it to someone else, if at all.

[Macroni]

$15k is a fair price IMO.

[periodr3]

I e-mailed the same guy last week, he's a fisherman looking to catch a whale.

[tfiv]

Originally Posted by Macroni

If it is indeed the blue 68S listed here it is worth well over the 10k I quoted. But I still believe proper restoration is a pricey proposition. the Auto Kennel E has $95,000 tide up in it and it is a 44,000 mile car. Restoration costs are the same for an S, T or E. Can it be done for less?

If restoration costs had a direct, and proper effect on the price of project cars, almost all of them would be free. For every guy with $95K, there are at least 100 with 15K and the dream.

[Macroni]

Originally Posted by tfiv

If restoration costs had a direct, and proper effect on the price of project cars, almost all of them would be free. For every guy with $95K, there are at least 100 with 15K and the dream.

Don't I know.....let's talk about my 69S restoration and dreaming.............

[EarlyPorsche]

68S? or L?

[914]

Sounds like the "S" Has alot of Issues,I would pass on this one.....
914

[Monza_dh]

On ebay now:
http://cgi.ebay.com/ebaymotors/Cars-Trucks___1968-Porsche-911-S-Sunroof-Rally-Lts-76k-kilo-Matchg_W0QQitemZ220318454941QQddnZCarsQ20Q26Q20Tru cksQQddiZ2282QQcmdZViewItemQQptZUS_Cars_Trucks?has h=item220318454941&_trksid=p4506.c0.m245&_trkparms =65%3A-1%7C39%3A1%7C240%3A1318

[Macroni]

Originally Posted by Soterik

This is an easy $20K car in "this economic climate".... as there are plenty of real car collectors willing to add to their collections a very rare and valuable car. It's not upside down at $20K, even now....Eric

After reading the detailed EBay description of the car I agree with Eric. This appears to be a very cool car. It does need a restoration which for me would be an expensive proposition as I rely upon professionals.

My budget for this project: $105,000

Here is the breakdown.
Body w/ Paint: $40,000
Interior Freshening: $7,500
Motor Rebuild: $10,000
Transmission Rebuild: $3,000
Wheels and tires: $5,000
Misc. Mechanical & Electrical: $10,000
Purchase: $20,000
Contingency 10% of Project budget: $9,550

I again will site the $95,000 restoration of the 1973 Gemini Blue E by a respected early car enthusiast as validation of this budget. Will a prospective buyer pay $105,000? IMO yes.