I fear Tony made the error of not really showing the floor damage and describing the extent of the work. His previous sales have featured some grim but still usable items and they sold reasonably well. Sadly for a car this approach does not work so well as the risk is higher and many of the buyers are different. They will look to get the car restored rather than be doing the restoration themselves. Most assume the worst on floors. Did he have any viewings, they are serious punters?
As described I thought it was on about the money. My theory is it is actually a bit better than described and not reaching reserve would suggest I am correct. It is quite possible to restore a 'Schmitt for less than £5,000 from that car if you use the market opportunities and do the work yourself. Start paying premium prices and buying in work and the price rises. However if you are taking the trouble to restore a car it would be assumed that it is because you want the car not the money at the end of the process. We are back to worth and value, two different things. It is telling that the majority of people who express an opinion are more interested in the values achievable on selling than any other aspect of cars that come up for sale. I am no different but then my background despite retirement is well known to most so should come as no surprise. Especially as it is coming time to clear out a few projects I will never get round to and the fact I have exhausted all but three leads on cars I might consider buying in. I am nearly out of the game as a buyer and that only to replace cars from the core collection.
Interesting the yellow 10K GRP car in Bedford area sold pronto for around its asking price, one assumes. Which car would cost most to get correct A1 condition?
Everyone has different circumstances.
I would love to restore my Isetta myself but I have a family of four children with GCSE's etc. coming. I guess it would take me about ten years (and much neglect of other duties).
So if I want a fully and properly restored car it's better to get it done by someone else and watch over the standard of restoration.
I am close to a solution with my Isetta with one highly skilled person looking after the chassis and another dealing with the body and paint. I will need someone experienced to attend to the engine and transmission.
Even this approach will involve many hours of stripping, transporting and reassembly.
The option to buy a 'restored' car is very dangerous unless you know exactly what the history is.
The other issue is money. If I can earn more than the person doing the work then it would be madness to do it myself.
I am not interested in the final value provided it is not less than the money spent.
The key thing is to get the car on the road for driving enjoyment as quickly as possible.
