Am I missing something here?
 

http://forums.pelicanparts.com/porsche-cars-sale/854924-f-s-1960-porsche-356-t5-roadster.html

1960 Roadster.
The car has had an amateur restoration that's 20 years old. Not the original color. Repro interior. Not a true Super. Needs floor pans, a battery box, and other rust issues. Ect ect.

The seller is upfront about the problems.

But what is that car worth with all of those issues attended to?

It's worth $144,999 - a whole dollar less after more than $50K that will be put into the chassis to right the wrongs including the shoddy floor pan job, the front pan, and who knows what else, not to mention the paint and junk interior.

So if you buy it at his asking and then do all the work, then you'll be minus the $40-$50K it will take to make it right, but you'll have the warm feeling that you just restored another old Porsche. That to me is priceless, and then next year your newly restored driver will probably be worth $125K, after you sunk $200K into the whole deal.

or you could buy it and send to a proper Porsche resto shop and spend $150k to get it done right.