resto vs driver a clear example

[B Garrett]

Yesterday I  looked at 1951 Cadillac series 61 four-door that needed total restoration. It did drive, however everything else was a bad bad shape. The chrome was horrible, the front grill even had holes in it from rust, the hood had a lead patch one edge. The lot owner said he put a new gas tank and had rebuilt the fuel pump on this car. Car must've been setting for some time.

The car is on the car lot the Dayton Ohio area, and it's priced about $4500.

On the same car lot they had a 50 series 61 four-door that had a old restoration. It looked good from a distance, however it had paint chipping in areas, and the interior although complete showing its age. The owner of the lot said the car drove very well and would easily do 70 on the freeway.

This car was priced at about $11,000.

I did not have a lot of time to look at either car so I did not do a real close inspection. A lot of discussion on this board has been about buying a restoration or driver. This showed the difference very clearly on the plus versus negative side of buying a car needing a total restoration versus a driver.

The 1951 series 61 is a much rarer car however it is still a four-door. And if you look in the price guides the 50s and 51s are valued about the same as they are almost identical. The only reasons I can think of that a person would want the 1951 is due to its rarity or they just like to do restoration work.

[Jay Friedman]

If I had to choose between them, I would stay away from the 1st car needing a total restoration.  To get it even in decent presentable shape, you'd spend far more than the $6500 difference between the $11000 cost of the 2nd car and the $4500 cost of the first car. 

Personally, though the exterior of these 2 cars is similar, I prefer the looks of the 50 dash and steering column compared to the 51.  Another reason for me to go with the 50.

[Eric DeVirgilis CLC# 8621]

Agreed with Jay.

As a general rule, it's far better to pony up for the best you can afford than get involved in a restoration project.

[59-in-pieces]

 B Garrett,
There are those who hold that "you" rarely get your money's worth out of the restoration costs, regardless of a professional shop that does the work or yourself. 

I however feel the restorations that can be done by the owner himself are more often labors of love and more deeply connect us to our cars, as part of the journey of our hobby - obsession.

Maybe I'm just feeling a little melancholy - or just old - today, but the restoration process takes time and money and is really only a step before the enjoyment of the drive.  So if "you" don't have either the money or the time to invest, BEFORE ONE OR THE OTHER RUN OUT - buy the driver and begin the enjoyment of the hobby and drive - sooner than later.
Have fun
Steve B.

[gary griffin]

I agree with S.Butcher, buy the best you can afford. My problem is that I was into old cars so long ago that they are in my blood and I always find something I have longed for that needs a lot of work and spend more time and money than the actual market value of the car not even counting the time involved. The market value is  a problem my kids have to deal with some day in the future.

If you are cosidering a restoration make a good estimate of the cost and the time incolved then double one and triple the other (It makes no difference which one you double or triple) then you may be getting close to reality.

Restoration provides a lot of satisfaction  finding and waiting for the parts among them. Tom (my UPS driver) says he has delivered 3 cars to my house. Also I enjoy the Blog I am running on my 1942-6719 .  The real intangible is the pride of doing it rather than buying it.  Hopefully I have learned to follow my own advice and will buy my classics already restored form now on!!

[R Schroeder]

Nice 50 for sale by me, in Wisconsin.
Cadillac club member I believe.
Roy


http://milwaukee.craigslist.org/cto/3867814566.html

[BReyes]

They are all nice. I had spoken with salesman Mr. Kurt. They are nice folks, spoke about the 50 which is awesome as labor of love. He plugged the 51.

Regards,