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Helpe here? - Restoration cost?

Discussion in 'Introductions and Greetings' started by Phil Barone, Aug 26, 2013.

  1. Phil Barone

    Phil Barone New Member

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    I'm new to car restoration and would like some help. I'm a machinist, I manufacturer saxophone mouthpieces at www.philbarone.com and have my own brand of saxophones to give you a little background. I also own a Harley and do my own work so I'm somewhat mechanically inclined.

    However, I have a two car garage which I share with a neighbor since I live in a condo. I saw, as I'm sure many of you did, a 68 Shelby on eBay that's a barn find and a complete wreck. My first questions is:

    Is this car worth fifty thousand bucks which is the opening bid?

    http://cgi.ebay.com/ebaymotors/1968...2649&ssPageName=STRK:MEWAX:IT&forcev4exp=true

    My second question is: If I gave the car to someone to restore how much would it cost me to restore it to like new condition if they did ALL of the work? I'm assuming that I don't need the bottom end of the car rebuilt so if anyone could give me ballpark numbers on a restore with and without the engine rebuilt that would be great.

    Also, I think that I can do a lot of the work myself like removing all the stuff under the hood, the interior and sanding everything down to bare metal. Maybe having one of those guys come over and having the car media or soda blasted. I could probably also take the motor and tranny out myself.

    Thank you all for your patience and please don't beat me too badly. Thank you, Phil
     
  2. 66GT350PS

    66GT350PS Well-Known Member

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    I would think that the limited access space for doing the work and parts and necessary tool storage (compressor, grinder, welder, metal work equipment, etc.) in addition to condo rules (noise, mess, liability, etc.) would make it necessary for you to have a shop. This looks like a major job for one person, especially one who has not worked on this type of limited edition vehicle, much less any car. I would tread cautiously and maybe talk to some reputable car restoration shops first.
     
  3. Coralsnake

    Coralsnake Well-Known Member

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    Phil,

    The value is determined by the buyer. Very few Shelbys in any condition are below $50,000. Occasionally you will find them, but you have to be plugged in and well connected. You probably wouldn't see those cars on eBay.

    Restoration costs would easily exceed $100,000 if you have a shop do it. Unfortunately, you will have to do the bottom as this car has no floors and much of the unibody is rusted beyond most shops abilities to repair. If you could find someone to work for $60/hr (low rate) x 1200 hrs (not unreasonable) that would be over $70,000. Thats just labor. Then you need to buy parts. Typical engine rebuilds are between $7,000-12,000 and this is not the original style engine (assuming it's a Cobra Jet) So, rebuilding it doesn't help you. The transmission if correct will probably be $1,500-2,000 to rebuild. Pulling both is a few hours of labor. I have also found damage is usually twice as bad as it appears at first inspection. This project is not for an amateur or first timer, unless your pockets are very deep. If that's the case just go out and get a finished car.

    You are not going to save a significant amount by doing some of the work yourself. I think most shops would discourage it. I wouldn't build want to build a nice car only to have the owner add incorrect parts or parts that have been rebuilt improperly. Finding a shop that can do a Shelby correctly is essential. Those shops probably aren't the $60/hr shops.

    In this case, as is the case with many of these cars, the depressed market, will only cause you to be upside down. Lime green GT 500s aren't on the top of the desirable list even when done professionally.
     
  4. Phil Barone

    Phil Barone New Member

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    Thanks to both of you. I think I'll eventually just buy a car. Phil
     
  5. Bob Gaines

    Bob Gaines Well-Known Member

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    ]
    you aren't the first or the last to pose this question. Most want to find out on their own (the hard way)what I am about to say. ]From a dollar stand point you are better off buying one that has been restored. Many think they can pay as they go but with little knowledge or experience it can end up costing 3 times as much plus the years it will take to finish a DIY. I am not saying it can't be done but the odds are against you. The car in question would cost approximately 1/3 more then it's market value when it is done if restored by a knowledgeable professional (they are few and far between) .
     
  6. Bob Gaines

    Bob Gaines Well-Known Member

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    I would also say that you are ill prepared with the space described to take on a extensive project plus you may ruin your co op garage arangement .It is messy ,dusty plus needs tons of storage for items coming off of a disassembled car.
     
  7. 66GT350PS

    66GT350PS Well-Known Member

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    a big +1

    b)
     
  8. 66GT350PS

    66GT350PS Well-Known Member

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    Re: hello everyone

    I couldn't get site to work. Where are you located?
     
  9. mrmustang

    mrmustang Well-Known Member

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    Re: hello everyone

    Since the person you responded to is a spammer, perhaps removing the quoted link would be a wise decision on your part :doh:

    I then suggest you take your computer offline and do a complete virus search
     

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