Re: Single vs. Double; Original vs. CE Block
 

Sam, I think there are very few cars that can be purchased in #3 and #4 condition, concours restored and then sold for a higher price than what is in the car. Parts and labor to restore a car to that level can easily exceed $50K and approach $100K plus the original cost of the car. Of course for a select few ultra rare cars the numbers can work.

I personally am not in the hobby for the money, but I can tell you first hand restoring a car to #1 condition is VERY expensive even if the labor is free.

Re: Single vs. Double; Original vs. CE Block
 

To me paperwork is the most important factor. True GM paperwork is still difficult to duplicate, long after we are gone they'll be stamping "restoration " motors, but the paperwork will determine the true heritage of a vehicle. Today, I heard about a very desirable '67 Corvette roadster, 435, sidepipes, original bolt on's and rare color. It is a vehicle that has a proven ownership history and original engine, but no paperwork. I'd rather a lesser vehicle with paperwork.

Re: Single vs. Double; Original vs. CE Block
 

Sam,
I'm considering opening some type of Classic Car Sales/Parts Resto Shop at some future date due to the lack of available services in my area. But you'd tie up a considerable amount of capital trying to make a go of it with you being the primary customer.
I do think that with a store front and some ready cash you would find some good opportunities to help supplement your income and to keep your people busy through a slow patch.

Sam heres the link to the place I believe your referring to: http://www.motorsportranch.com/ . My wife and I are considering a 6 or 8 car garage house now with trackside view. The whole first floor is garage area with doors on opposite sides....a true drive in/drive out experience. The second floor is usually living space with a balcony area to watch the action. A loft is commonly done on top of the living area for better view. The track is an asphalt paved road course booked by car clubs and the like with certain days reserved for residents. Mainly Porches, Vipers, Italian Sports cars and SCCA type cars on it. There is some talk of adding another type of track later, not sure if that would be circle or straight line.

Greg,
I think your right about other investments offering better returns for the long haul. But most of the guys saying it's for investment purposes are just trying to justify spending so much money on old cars to their friends, wife and themselves. I don't think their is a wrong or right reason to collect and/or restore cars, it's a personal choice. Remember that the reason we give for doing something, somtimes has little relation to our true purpose.
But I know one thing for sure. For me its sure cheaper than fishing or hunting. Those have been some of the most expensive meals I've ever had!

COPO,
I believe your right,but you gotta have hope and keep looking.

TimG,
Ditto!

Re: Single vs. Double; Original vs. CE Block
 

[ QUOTE ]
But most of the guys saying it's for investment purposes are just trying to justify spending so much money on old cars to their friends, wife and themselves

[/ QUOTE ]

Shhhhhhhh!!!

Re: Single vs. Double; Original vs. CE Block
 

I could put a price on the resto of my 70 L78 with all the many hours of tender loving resto of every nut and bolt
to the factory build sheet. HoweverI did not restore this car because its worth 150k today I restored it because to me this car makes me feel good. When I drive the car it brings me back to when I was 18 and to me that is worth more than
money. And as far as Hunting and fishing being more expensive all I got to say is you are hunting and fishing in the wrong places
Suprss70

Re: Single vs. Double; Original vs. CE Block
 

I am definitely in this for the love of the cars, but my non-car-people friends think I am the mastermind investor when they see Barrett Jackson prices. I think most of us have been doing this for at least the past 10-15 years--I know I have--and there's no way I could have amassed the cars I have if I paid "market price" for them today. I'd have a hard time paying for even one!

Re: Single vs. Double; Original vs. CE Block
 

Ditto Tony...

Re: Single vs. Double; Original vs. CE Block
 

I'm also a believer in factory and dealership paperwork to prove a cars provenance. When I bought my LS-6 car (from Charlie) the paperwork was of paramount importance and exterior and interior color combo was secondary. I think as we all do, that rarity is of upmost importance (drivetrain anyway) and having undisputed proof makes it that much sweeter!