Why restorations can often be worthwhile after all
04/17/2012
It is generally agreed in the classic car scene that complete restorations are only economically worthwhile in a few cases, as the work is too costly and the increase in value, or the overall value of the restored vehicle, is too small.
In our part of the world, a complete restoration of a vehicle costs between EUR 80,000 / CHF 100,000 and several times that amount, depending on the complexity of the vehicle, the prices of the parts, etc. However, most classic cars are below this price threshold, regardless of their condition. A beautiful Lancia Gamma Coupé, for example, is unlikely to rise above €20,000 in the next few years, and even collectors are reluctant to pay much more than €50,000 for the rare Ford Capri RS 2600.
But if you only think along these lines, you may be making a mistake. A restoration has many other benefits, some of which are difficult to quantify.
What are breakdown-free trips worth to a classic car enthusiast? How many partial overhauls, repairs or emergency interventions do not have to be carried out over five or ten years if the car has been correctly overhauled and restored? What happens in the event of theft? Insurance companies often take existing invoices into consideration when estimating the loss. What if an accident due to material defects can be prevented thanks to a carefully executed restoration?
Of course, it is still true that many total restorations have to be filed under "hobby" and "matter of the heart", but that is a good thing. After all, it is precisely thanks to such enthusiasts and people who are not purely economical that we can still enjoy a Messerschmitt today or come across exotic plastic cars from England at a classic car meeting.
So, keep up the good work!
