Having recently completed a five-year, >$80k re-restoration on
my late father's 300C convertible that was already in MUCH NICER,
multiple nationwide show-trophy condition (1978 - 1988) to begin
with than this one, I predict that the next owner of this car will
be financially underwater (vehicle worth less than total
investment) within only a couple of months, even if he provides
most of the labor himself (which, if he does, is not likely to
lead to a top-notch restoration - no single individual is going to
be able to address the rust repair, metal-working, engine
rebuilding, electrical component renovation, upholstery material
sourcing and installation, re-chroming, paint prep and
application, suspension rebuilding, brake work, transmission
rebuilding, etc., etc.!). This car needs ALL of those issues
addressed by true professionals using the best materials and
processes available. Itsa BIG job and takes a LOT of time and
research to find the right people and get all the various jobs
done at a dozen specialty sources all across the nation (and even
overseas - for example, I had to buy a complete new $700 dash for
my '57 from a fellow in Sweden, and I was grateful to find it
ANYWHERE!)
The same shop that oversaw my restoration (minus all sublet jobs)
charged $65/hr back then (2012-2017), but now his rate is $95/hr,
and this is in impoverished southern New Mexico; I bet the labor
rates are significantly higher everywhere else. It's a killer.
In my case, I was motivated because of the close family tie to
the car for over 30 years before my Dad passed away, and because
the value of a restored convertible was going to be significantly
higher than the corresponding coupe. In this present case,
lacking such personal involvement and potential financial reward,
I wouldn't touch it even if delivered to my doorstep for free!
(Might have to pay me $30k just to take it!)
Forty years ago would have been a much different story.
Ray Melton Las Cruces, New Mexico 1957 300C cvt, s/n 3N57
2517 White/Gauguin "Big Red"
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