Thoughts about an Austin Healey 3000

[Robert Adams]

I need a second opinion here, I think? My gut says this is a no brainer, but having never worked on a British car before I’m hesitating just a bit.
In my search for another p-car project I came across a 3 owner ‘62 Austin Healey 3000.
Its 30 miles from my house which is a major plus!
The car: Asking $18k; has about $8k (list & receipts included) in new parts mostly in original shipping boxes going with the car.
The car has 50k on the OD and the chassis looks pretty clean, so it may be original miles, but no way to verify. It is dissembled for the most part, except for having its front and rear suspension mostly still in tack for moving purposes. Front end suspension and rack is all new parts. This was done by its current owner in anticipation of a ground up restoration.
The engine & trans are out. Motor looks to have been rebuilt but will need to tear down to find out for sure (no records). The trans will probably need similar. Carbs already rebuilt and ready to go. Has new clutch & all related parts in a box.
Frame is in its original finish & original Colorado Red. The body was repainted once along the way to original color, but needs to be redone. Trunk & engine bay look very clean except for the glue residue left after removing the carpeting in the trunk. Gas tank still in original paint finish and with some cleaning should be good as new.
The only rust is minor and can be fixed for under $500 tops; it’s the horizontal sheet metal that holds the rear seat tray. It’s actually not that bad, but I figure it’s probably easier to just replace it than repair the 5 or 6 pin holes? The frame is real clean and the original paint is 99% in tact; just needs the oil & grime cleaned off. Have new exhaust, brakes & shocks in boxes.
Complete new interior in boxes & new dash which is complete, with original working gauges (or so I’m told they are working).
Wheels could use a few spokes replaced and will require refinishing. Definitely will need new tires!
He has the original glass intact along with all new replacements. Windshield framing looks great as does all the chrome parts & stainless parts. If I didn’t know better I would say they were all new as well.
Top is there but needs to be replaced. This is the one thing the owner hasn’t purchased. I’m sure as I get into the project I’ll find other items, but all the big stuff is all there.
NADA says these cars finished are a low of $28k and a high near $75k. A little searching and I have found most to be in the high $30ks to low $60ks. Part of my reason for getting a project isn’t to make a killing, but at least break even if not make a few bucks down the road. I will need to have the new sheet metal piece done by a pro hence the $500 mention earlier. I will strip the body myself hoping to not touch the frame and have a pro do the priming & painting. The rest I can pretty much deal with
Thanks!
Rob

[scotyp]

Hi Robert,

I just bought an 82' 911 SC but have been an Austin-Healey 300 MK 3 ( BJ8) owner for about 9 years.
This cars sounds like it needs lots of work for 18K given the model of Healey. The old saying buy the best car you can afford applies to Healeys especially. In fact, I think they had this make in mind when they came up with the saying!
The cost to restore one, even in a minor way is VERY expensive and parts have skyrocketed in the recent decade!
I bought my car for 25k in 2001 and it had been totally restored but needed LOTS of TLC. I have done all my own maintenance work on it as fortunately it was a solid car to begin with.
I might be able to get 45k for it now but would never sell it. Be very careful with these cars as trying to roll them over for a profit is a dangerous game! I would not recommend you try. Buy the car because you love it!
I would tend to pass on this car and look for a more finished albiet expensive car if you can...Also,if you can, get someone knowlegeable on Healeys near you to look at this project and make sure they have a flashlight!
I would suggest you place your post in the Healey portion of the British car forum.. www.britishcarforum.com Here is a photo of my car taken this past Summer...A 1966 Ice Blue Metallic BJ8.
If you have any more questions or concerns let me know.Scot

[LWJ]

Ok. Here is a 180 degree opinion.

It seems that you have the budget to buy this as well as the motivation and ability.

If you are asking is a 3000 a good car? Yes. Pure SEX. Very simple to work on. Parts should be readily availible. I have wrenched on my FIL's 3000 as well as my 65 MGB, which was made in the same factory and shares a few parts.

If this is a rolling restoration sort of deal, it sounds about right. There will be a lot of work. But these motors are very simple and low tolerance. Trans should be easy as well if needed.

As to the wheels? Broken spokes sounds like junk wheels. The hubs get worn so that they clunk on accelleration and braking. New wheels are somewhere in the $2000 range. Not certain. Look at Moss Motors for better pricing estimates.

I am pretty jazzed on your project. It will take a lot of effort but the car sounds solid. The real stumbling point for me is that $18k might be too much.

Keep us posted. Pics would be great.

Larry

[Sunroof]

When I got back from Vietnam I slapped down 3k for a new 1967 Triumph TR-4A IRS. Little did I know that my new roommate at Scott AFB would be driving a silver metallic new Austin Healey 3000 with electronic overdrive! We would switch cars often and I must say that straight six was the smoothest engine I have ever driven. The Healey was magnificent in handling and looks and if I had the cash I would grab one in a heatbeat even if it did need a bit of work. Magnificent machine!!!!!!!!!!! Goodluck

Bob
73.5T

[scotyp]

Keep in mind the money you can spend on a restoration like this is theoretically unlimited!
I maintain that you can still buy a car that is done ( enjoying it right away) for less money than restoring one. I think most Healey owners would agree with that.
If you have the ability and desire to restore the car as a hobby, fine...but be prepared to spend BIG money and possibly never match the money you put into it when you go to sell .
Cheers,

Scot

[Robert Adams]

Thanks for all the feed back. Keep in mind that included in the $18k is a bit north of $8000 worth of new parts from a new complete interior to a whole new exhaust system and most parts in between. I think the fact that it needs virtually no body work except of the one piece I mentioned is just amazing for a car this old. If it were a Porsche it would be quite rare indeed.
So the real cost of the car is about $10k to maybe $9500 with a supposed rebuilt motor and a new clutch although it's still in a box.
I am considering this or any other car project more for the fun of it than the monetary gain if any. I realize these cars or for that matter any project car, can be a huge money pit from past experience. My plans do include making this a muesum piece just an above average driver. I was just hoping to be realistic and smart about it at the same time if that is even possible. A new paint job might run about $5k to $6k based upon a preliminary conversation with my restoration grade body /painter person. Most of the rest of the work appears to be sweat equity.
Thanks all!
Comments welcomed!

....and Scotyp that is a nice looking example of the breed. Good purchase indeed and looks like a lot of fun.

[Robert Adams]

Decided to stick with what I know and bought a 73.5 barn find I stumbled across.
Not bad shape but does need a repaint..NO RUST except for inside the front suspension pan and at that, it's surface only. Steel S bumper & nice '70s Recaro sport seats included (not in picture).

Anyway, anyone interested in a nice 62 Austin Healy 3000 project let me know and I'll connect you with the owner located in central NJ. NO RUST....EVER!
Thanks to all for the help and advice!
Rob