shidinger

Hello all

It’s been a while since I’ve been on the ‘list. But ever since I sold my SY 993 a few years ago, I’ve been casually looking for another oiler to bring home.

Well, I may have just found it. A good buddy of mine has the ’68 pictured here. It’s a two owner, CA car (his Dad bought it new in ’67) and it’s been sitting in his garage for the past 12 years. The body looks to be in decent condition with the exception of a rear bumper dent. Window seals are gapped and need to be replaced. The floor pan has rusted through in a couple spots and will need to be corrected. I’m not sure what it will take to get it running, but I’m guessing the proper route will be a rebuild. Interior is ok, the driver's seat needs to be replaced, but pretty much everything is there.

I would love some advice on this thing.

Any thoughts on what it’s worth as it sits?
Any thoughts on what it will take to get it back to sound driver’s status?
Any thoughts on who I should bring it to for evaluation (in SoCal)?

Thanks all,

Scott

JCP911S

These cars are quite valuable, and if purchased for the right sum, can withstand the cost of significant restoration, and not leave you underwater.

First, thing is to determine the model, but if you can get a VIN#, you can determine what it is. 1968 was a very transitional year. This is probably a SWB car, but a VIN is critical, and USA and ROW models varied wildly.

Just as a benchmark, a standard SWB 911 in excellent (but not concours) condition is easily a $100K+ car, and a SWB 911S in concours condition is easily a $250K+ car.

Assuming this car is basically sound, I'd budget $15K for an engine rebuild, $20K for body and paint, and $10K for incidentals.

A full concours restoration on any older 911 is likely to exceed $100K, but is not really necessary if your goal is a really nice looking car to drive and enjoy.

Understand, this is a total ballpark, but if you could get this car for $30K its probably a steal, and anything under $50K is probably not a bad deal if you are willing to ultimately end up investing around $100K in the car.

If you post the VIN, you'll get flooded with info. But if you are serious about buying this car, don't fool around, as they are in great demand right now.

GTgears

Has US side markers and normal deco. Probably a standard 911 1968 model. I agree $30-50k for a buy range depending on exact condition and friends and family pricing.

shidinger

Thanks guys, appreciate the feedback.

After doing some VIN decoding, it does appear to be the standard US 911. I know it's not an imported T or S. And I'm almost positive it's not an L.

Because the SWB cars are so hot right now, I'm having trouble understanding the potential as an investment (not that that's the driving force here). The comps are all over the place and I don't know enough about how appraisal are graded to know what ballpark i'm playing in. Using my insurance companies valuation tool, it gives me a range anywhere between $46k and $125k? If $125k is the top end, and I pay $50k and invest $45k, I still won't have a condition 1 car... right?

I think it might be best to trailer it to a resto shop and get some expert eyes on it.

GTgears

Your analysis is right. You could very well pay $50k, "invest" another $50k in it and have a $100k car. However the market is moving quickly right now upwards. Most valuation tools are several months behind. And by the time your restoration is done it very well could be a $150 or $200k car.

tcsracing1

buy the car as fast as you can.
pay 30-50k.

What ever it costs you to restore the car, you will be ahead of the game.

JCP911S

Act in haste, repent in liesure...

But in this case, I'd tend to agree... just because you own the car does not commit you to restore it.

Although I hate looking at cars as "investments", the reality is... they are. Look at it as buying an unlimited "call option" on the early 911 market.

If you can get it at this price range, it has its original engine and is not rusted in half, its hard to see you getting hurt.

Of course we all love to spend OPM....

shidinger

ha! love this advice.

i'm much less worried about getting burned and more concerned about biting off more than i can chew. But as you said, owning the car isn't necessarily a commitment to $120k restoration.

i'll focus on getting it first, then decide how far to go later... kind of like marriage.

Carrera51

Grab it!

GTgears

First I've seen the car on a full size computer screen. Looks dusty but solid. Grab it.

JCP911S

Sounds like a good approach.

Once you have the car, you'll be able to do a more thorough evaluation of the car, and determine your plan, and also spend some time to assemble documentation, that always helps.

Also, while doing some routine stuff to stabilize the car, or even get it on the road is ok, I'd avoid the temptation to do a quick "fuzz and flip". The sophisticated collectors who buy these cars can smell that a mile away, and it will actually hurt the value of the car.

Although you are not obligated to do a restoration on the car, my advice is if you do decide to restore it, put a very careful plan together, and be committed see it through to completion.

And be prepared to spend 50% more than you budgeted.

There's the old story about the guy who swam halfway across the Atlantic, decided he couldn't make it, and swam back.

Selling a half-completed resto project is a major haircut.

Keep us posted.

shidinger

Well, here we go.

I plan on creating a resto blog to document the progress.

Thanks again for the advice.

1stgear

Can't wait to see the progress! Is that your Land Cruiser?

Amber Gramps

Oh, wow. People hate you right now.

Now turn her into a 69R, quick.

Kidding. What are the plans at this point? I'd keep her as is for now and take her to PRR-V and find yourself the bell of the ball.

http://www.mazdaraceway.com/porsche-rennsport-reunion-v

billyd

Congrats shidinger.....can't wait to follow the resto!