Pile Of Rust Sold For $152,000

[Palumboism]

This 1955 Porsche 356 Speedster just sold for $152,000.  It's unbelievable that a car in this condition could be worth that much, but when it's restored it could sell for $250,000.

http://www.carscoops.com/2015/12/somebody-just-bought-this-pile-of-rust.html

[calfzilla]

Thought this thread would be about Basile's bicep supinator.

[Lustral]

Pretty sure I know someone (fashion designer) who has an original one of these. John Rocha. He used to collect his hot daughter (Zoe) from school in it the odd time.

Someone can gogle it but he had a 50s or 60s Porche, similar body, black paint, looked sweet.

Edit: He had 1958 porche 356 speedster

[Irongrip400]

I thought this was going to be about my next car, a 1970 Boss 429.

[Palumboism]

John Willhoit has been restoring Porsche for 37 years and has a year long waiting list.  His estimate to restore a Porsche is $200,000 plus metal work.  Metal work is between $20,000 and $100,000 depending on the condition of the car. 

The amount of money people put in these cars is unbelievable.

[Palumboism]

[Lustral]

John Willhoit has been restoring Porsche for 37 years and has a year long waiting list.  His estimate to restore a Porsche is $200,000 plus metal work.  Metal work is between $20,000 and $100,000 depending on the condition of the car. 

The amount of money people put in these cars is unbelievable.

If you have the money and love the car (Jerry Seinfeld comes to mind as a Porche aficionado wiith dosh) it is great to be able to restore what you love for the future to appreciate.

Don't like most Porches on a camera. See a good one, like a Carrera 4s pull up beside you, and think that they are a reliable supercar, and then you get it. Lack the romanticism of Ferraris etc though.

[Papper]

Pretty sure I know someone (fashion designer) who has an original one of these. John Rocha. He used to collect his hot daughter (Zoe) from school in it the odd time.

Someone can gogle it but he had a 50s or 60s Porche, similar body, black paint, looked sweet.

Edit: He had 1958 porche 356 speedster

Damn cars used to look good. That looks stylish as hell

[Henda]

Probably in better condition and less rusty in its present state than vince goodrums car

[FitnessFrenzy]

John Willhoit has been restoring Porsche for 37 years and has a year long waiting list.  His estimate to restore a Porsche is $200,000 plus metal work.  Metal work is between $20,000 and $100,000 depending on the condition of the car. 

The amount of money people put in these cars is unbelievable.

I wonder how many Getbiggers are on this guy's waiting list to have a Porsche restored?

[muscularny]

I'll give ya $30 bucks, take it or leave it

[El Diablo Blanco]

So let me do the math. $150k for the car.  At least $100k to restore and he can maybe sell it for $250k.  Sounds like a wise business decision

[HTexan]

That's nothing look at cobra frames. These people are nuts.

[Vince G, CSN MFT]

So let me do the math. $150k for the car.  At least $100k to restore and he can maybe sell it for $250k.  Sounds like a wise business decision

It won't cost close to a 100k to restore it.  A lot of these guys run restoration businesses and would not pay a high dollar amount unless they know they can make money off it....in fact there's likely a buyer for the car already.....by the way, even if they put 200k into the ride, this car would actually sell for about 400k

As rusty and beat up as it looks, its actually not as much work as it appears.  As long as it has a VIN number and its authentic, it makes no difference

[chaos]

It won't cost close to a 100k to restore it.  A lot of these guys run restoration businesses and would not pay a high dollar amount unless they know they can make money off it....in fact there's likely a buyer for the car already.

As rusty and beat up as it looks, its actually not as much work as it appears.  As long as it has a VIN number and its authentic, it makes no difference

You obviously have no experience with restorations.

[Vince G, CSN MFT]

You obviously have no experience with restorations.

Its not that bad....take the whole car apart and get rid of the rust and patch it up. The biggest cost is finding all the stuff that its missing like the dashboard, engine, controls, etc.  

[Palumboism]

So let me do the math. $150k for the car.  At least $100k to restore and he can maybe sell it for $250k.  Sounds like a wise business decision

You don't have the math quite right.  It's $150,000 for the car and if you take it to John Willhoit, add $50,000 for metal work and $200,000 for the restoration.  I realize it could be done for less, but my point is it's crazy how much money people dump into these cars.  So, $400,000 total for a car with a 1.6 liter four cylinder engine and carburetors.  Also, most of the people who restore these cars aren't doing it to sell and make a profit.  They're goal is to keep it forever.

 

[chaos]

Its not that bad....take the whole car apart and get rid of the rust and patch it up. The biggest cost is finding all the stuff that its missing like the dashboard, engine, controls, etc.  

Finding the talent to do it properly and paying the labor costs alone would drive the number through the roof. Can't patch on most of what I see in those pics, far too thin.

[Vince G, CSN MFT]

Finding the talent to do it properly and paying the labor costs alone would drive the number through the roof. Can't patch on most of what I see in those pics, far too thin.

I'm not sure but it was sold at auction with a ton of bids so I'm guessing that some company bought it for profit.  Like I said, I'd spend the money on a brand new car if I had 153k.  Basically they paid for the title and an engine which was included. 

[MONSTER_TRICEPS]

Its not that bad....

It does in fact look terrible and probably is even worse than on the pics.

From experience, if you see some rust which looks "not so bad", it suddenly looks terrible when you poke your screwdriver into it a few times.

Sandblast this shell and you have nothing left. Tons of panels need to be fabricated etc. It is going to cost a fortune.

[King Shizzo]

Some things (like this Porsche frame) shouldn't be considered restorations. How can you call something a restoration when it looks like they will have to source 99% of the car from somewhere else. It becomes a Frankenstein car at that point.

A vin number and a rusty frame (that they will add artificially to) does not make the car authentic to me. You could flip it around, and add the original headlights from this car to a complete replica, and claim the same thing.

I guess you can do/claim anything you want if you have enough money to burn.

[Palumboism]

Singer roadster 1500
Barn find restoration:


http://www.businessinsider.com/antique-cars-sold-after-found-in-barn-2015-1

[Palumboism]

Talbot Lago T26 coach "surprofilé" - ca 1948
Barn find restoration:

[Palumboism]

Amilcar CGSS biplace sport - ca 1927

[Palumboism]

Talbot Lago T26 Grand Sport SWB par Saoutchik - 1949
Estimated auction price: €400,000 - €600,000