Is It Time (to sell)?

[71vert340]

 Lately, the thought has crossed my mind to sell my convertible which I've owned since 1972. The car deserves a total restoration and right now it's a driver. My wife says the decision is mine but I know how she feels (sell as is). I put the question to my siblings and they all say to get it totally restored and sell. The sale of the 71 Challenger Shaker convertible at Mecum Indianapolis a few weeks ago has made me wonder about increasing the insurance on it which will be expensive and the gamble about what it would bring if I decided to sell. I drove the car to a show Saturday and to be honest, it was not fun. The reason: I was nervous about getting in an accident in the city traffic with it. I was nervous driving it the first time in 1972 and I was just as nervous Saturday. It's a great car, but until Saturday, the last time I had the car out on the road was in June 2017. I have my Chargers to work on and a 71 Challenger hardtop. Maybe I'm just in a dark mood now and need to talk it out. I mentioned at the show on Saturday I was thinking of selling and there was definitely interest. I should get an estimate of the cost of restoration ( probably $75k) and see who can be trusted and can do the job right. Being in the Pacific northwest makes it difficult shipping back east or to California.  I'm really interested in some ideas, opinions, etc. I guess I'm venting and I apologize for it. Thanks.
Terry

[CudamanTom]

Haul it on a trailer to the shows so you don't have to worry about other drivers.
If you don't need the money or space, don't sell it. You'll wished you didn't later if you do.

[Cudakiller70]

 
Tough personal decision. Since 72 ugh, you never know what you got till it's gone.

[72 Challenger]

Have a chat with Alan! See what the cost of a quality restoration that the car deserves will set you back. Even if you are in a mood about it now, I would never make a decision without all the facts.


I would be less afraid to drive a car that was in need of a restoration then a car that is totally restored. So I would drive the pants off it. 

[71gogreen]

It seems to be tearing up your insides. How old are you? If your scared to take it down the road, then why keep it?
If the car is a 4 speed, then I would understand that it's harder to maneuver as your getting older. Maybe you should take her out with one of your friends who has an classic car? Maybe just have a sip of whiskey before taking the old girl out?

[71vert340]

 I think what is tough is all the good memories. My wife and I dated in the car in the 70s. Each of my siblings drove the cars for various reasons  (they'd beg me to drive it). I let my future brother in laws drive it on dates or to weekend cruise nights. It's a great car but I'm now 67 years old and I really enjoy driving my 2015 shaker Challenger.  The convertible really deserves a restoration. Any recommendations? It's had 3 accidents which I had repaired in the 70s and 80s. The body shop work then was not up to restoration standards.  I know there's rust under the seam sealer although the floor pans and cowling are solid, so some patches may need to be done elsewhere in some of the typical rust areas. I'd get the trunk floor  extensions replaced. Both inner front fender panels were replaced in the late 70s or early 80s with NOS panels. The undercoating helped but can hide problems. It's a 4 speed with manual steering and 11"  manual drum brakes. I can drive the car without physical problems. Decisions, decisions. Thanks,
Terry

[Cudakiller70]

I would error on keeping it  , sweet car. Alan would be the one to redo it.

[6bblgt]

you and your family need to come to terms with when? is the right time to part with the convertible, but if the net profit from the sale is the initiative, sell it as is

the addition of a quality restoration in time & money will be difficult if not impossible to recoup

the $300K sale of the added-SHAKER FC7 convertible at MECUM may not be repeatable under any circumstances, "perfect storm" scenarios

IMO  the perception that the insurance is too expensive because of the value of the car is a bit "off", the insured dollar figure should take care of the car as it would take a horrific accident to remove the car from existence, the protection of the car's occupants should outweigh the concerns about the car - it can be fixed, again if necessary

dealing with a minor accident would be a breeze, mentally, compared to dealing with a restoration

best of luck with your decision 

[71vert340]

  I just had a funny thought. I was out in my garage taking a look at the 2015 R/T as we're taking a trip in it for a few days to relax (and visit some grandkids). I saw my first set of wheels I bought and had to snap a pic of it in front of the last new set of wheels I bought. Apparently, I have a problem with parting from blue sets of wheels. The 74 Charger Rallye I'm working on is B5 blue also. 
Terry

[71vert340]

 And thanks for the input Dan and others. I really like this site because honest ideas/thoughts are expressed. By the way Dan, are you going to the MCACN again this fall in Chicago?
Terry

[anlauto]

The purple one that recently sold at Mecum was restored in CANADA  ....just sayin 

...but I would like to agree with Dan....the most profit from a sale would be now pre-restoration....

HOWEVER

Maybe not in your case.....lets play with numbers a bit....Opinions welcomed....

Today's investment: Let's call it ZERO or maybe or maybe $5K-10K in the last 47 years 

So lets say the restoration cost $75K ... not an unrealistic number in my opinion...

So sell it today and a driver quality project ... I would say ....maybe $50K-$60K ??? I think being a 71 it will take awhile to sell at that amount....most people dropping that kind of coin don't want a car that needs work...

So sell it as is... Today's investment $0 - PROFIT = $55K

So you restore it instead....total investment $75K

A fully restored documented 4 speed shaker car in a nice colour.....I think $125K -$175K ....Even if it gets HALF of what the last known example sold for, you're talking $140K-$150K

So sell it restored... Today's investment $75K - PROFIT = $50K - $75K maybe more if two drunk people fight over it 

...and who knows, if your kids inherit it, what will it be worth when they go to sell it.

I'm currently restoring two cars that are in the hands of the original owners....and both of them have had this discussion many times.


Am I close ? Anyone ?

[71vert340]

 Thanks for the numbers Alan. I bought my NOS Grille, bezels, wheel opening moldings, etc etc back in the 70s and haven't used them yet, so, the only big item I've bought is carpet ($160) and Polyglas tires (under $1000). What really made me nervous was two things.
1. driving on new bias belted tires which I had not done in over 30  years. The car moved with every groove in the road. Being manual steering, it felt loose.
2. A young spectator leaving the car show- I left early to avoid this scenario - pulls up next to me, waving, honking and trying to impress me in his 1990 Toyota Corolla while moving. We pull up to a red light and he guns it and tries to impress me with a burn-out I guess. He swerved partially into my lane. Idiot. He'd talked to me at the show, so I don't know what he was trying to impress me with. If he'd hit me, probably no insurance there.
That's why I'm considering  increasing the insurance on my convertible from $65k to $90k and on the 71 hardtop from $10k to $40k. A  significant increase in rates I'll have to pay. If I decide on a restoration, it would be for something less than a 100 point show car only as I will drive it. Mostly to get rid of any body problems. Thanks again.
Terry

[6bblgt]

..........
So sell it today and a driver quality project ... I would say ....maybe $50K-$60K ??? I think being a 71 it will take awhile to sell at that amount....most people dropping that kind of coin don't want a car that needs work...
..........

I think your above number is about 1/2 what the car is worth as it sits today

find me a factory SHAKER car that can be purchased today for $50K-$60K (then show me pictures)

find me a 340-4-speed convertible that can be purchased today for $50K-$60K (then show me the pictures)

[anlauto]

..........
So sell it today and a driver quality project ... I would say ....maybe $50K-$60K ??? I think being a 71 it will take awhile to sell at that amount....most people dropping that kind of coin don't want a car that needs work...
..........

I think your above number is about 1/2 what the car is worth as it sits today

find me a factory SHAKER car that can be purchased today for $50K-$60K (then show me pictures)

find me a 340-4-speed convertible that can be purchased today for $50K-$60K (then show me the pictures)

A lot of valid points there Dan....So lets say a driver quality project is worth $100K maybe it's in a LOT better condition then I think it is, I was basing my opinion on the description given by the owner...needing a trunk floor, trunk extensions, poor quality past repairs, etc.......If it's worth that much as is, then why would you be surprised that the same car with a quality restoration like the purple car is worth $275K ?

Find a buyer for this car in it's current condition that is willing to pay six figures then throw a restoration on top of that. I don't see that happening....

[Rich G.]

Well in my opinion if you're afraid to drive it or just don't want to drive it, it would be a shame to just let it sit there. It would definitely be tough to sell something you've had for so long. The good thing is you have other cars you can drive and enjoy. I can't see restoring a car just to sell unless you're doing it yourself. Who do you trust, how long will it take and how much will it cost to justify the difference? You might even lose money if you can't find the right buyer. Tough decision!