How much is my partially restored 951 worth ???
09-09-2002, 09:57 PM
#1
Three Wheelin'
Thread Starter
How much is my partially restored 951 worth ???
Yesterday afternoon I put the engine back in my car and it felt great. Yesterday evening I was served papers from my wife seeking a property settlement 
, that does not feel so great.
Now I have a dilema about what to do with my 951. I know how much I have spent on it but I know I have an emotional attachment to it and I want to finish the project I have worked hard at. But I also need to value the car as it stands today so that I can work out what to do about it for the property settlement with my wife.
So the question is how much would YOU be prepared to pay for this half completed car as it stands today if you saw it advertised somewhere. The following points are relevant - the exterior body work has been repainted (not all panels are on yet ie bumpers and spoilers), the engine is in (its been rebuilt properly with a new clutch), the front suspension is not, the wiring looms are not connected, the cooling system is not in, The intake system is not in, the interior has not been touched (it needs restoration -carpets, switches, head liner, door panels etc seats are good though). the door and window seals need to be installed. the lights need to be installed. The stereo needs to be replaced. The door handles and mirrors need to be installed.
I would appreciate it if you would value this car with standard suspension, stock intake & injectors, stock wheels, stock wastegate, exhaust (gutted) and boost control. The turbo has been replaced with a TO4E though.
If you can volunteer your honest opinions about the value of a partially restored car like this I would appreciate it a lot.
here are the recent pics
Wayne
, that does not feel so great.Now I have a dilema about what to do with my 951. I know how much I have spent on it but I know I have an emotional attachment to it and I want to finish the project I have worked hard at. But I also need to value the car as it stands today so that I can work out what to do about it for the property settlement with my wife.
So the question is how much would YOU be prepared to pay for this half completed car as it stands today if you saw it advertised somewhere. The following points are relevant - the exterior body work has been repainted (not all panels are on yet ie bumpers and spoilers), the engine is in (its been rebuilt properly with a new clutch), the front suspension is not, the wiring looms are not connected, the cooling system is not in, The intake system is not in, the interior has not been touched (it needs restoration -carpets, switches, head liner, door panels etc seats are good though). the door and window seals need to be installed. the lights need to be installed. The stereo needs to be replaced. The door handles and mirrors need to be installed.
I would appreciate it if you would value this car with standard suspension, stock intake & injectors, stock wheels, stock wastegate, exhaust (gutted) and boost control. The turbo has been replaced with a TO4E though.
If you can volunteer your honest opinions about the value of a partially restored car like this I would appreciate it a lot.
here are the recent pics
Wayne
09-09-2002, 10:01 PM
#2
Geaux Tigers!
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Sorry to here that. Let's see, it's a property settlement with your wife. I'd say not a bit over $1,000. Wink Wink
Actually, there was a discussion the other day about a car here in New Orleans and it's worth. It was an '89 with low miles and the seller was asking $16.8K. Not sure what year yours is or mileage etc. but you may be able to work from that or KBB. Depends on what you want it to be worth and how liquid it needs to be but $16 would definitly be one that didn't sell on the first day.
Obviously, the prices thrown around were for "complete" cars. If needed I can find the Excellence valuation of the car (need year).
Actually, there was a discussion the other day about a car here in New Orleans and it's worth. It was an '89 with low miles and the seller was asking $16.8K. Not sure what year yours is or mileage etc. but you may be able to work from that or KBB. Depends on what you want it to be worth and how liquid it needs to be but $16 would definitly be one that didn't sell on the first day.
Obviously, the prices thrown around were for "complete" cars. If needed I can find the Excellence valuation of the car (need year).
09-09-2002, 10:23 PM
#3
Three Wheelin'
Thread Starter
Thanks Ellssuu,
I already know the value of the completed car (priceless) but that is not relevant anymore. All that really matters at the moment is the price of a half completed car - ie a value based on knowledge that a fair bit of work and parts are still needed as well as risk associated with not knowing if the engine runs well and so on.
Cheers,
Wayne
I already know the value of the completed car (priceless) but that is not relevant anymore. All that really matters at the moment is the price of a half completed car - ie a value based on knowledge that a fair bit of work and parts are still needed as well as risk associated with not knowing if the engine runs well and so on.
Cheers,
Wayne
09-09-2002, 10:39 PM
#4
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Hey Wayne,
Just got back from San Antonio for a little R&R. Sorry to hear about your troubles.
It's my opinion that what you've got right now is a parts car. Of course, as such it's worth more in parts than it would be as a whole. If I was looking for a project car, I'd be leary of giving you much over $1000 for the lot - but I know what the cost will be to "get it running" again. Someone from the "outside" would likely go higher - say around $2500. But I doubt you could get much more than that. As you mentioned, there's no guarantee that the car will run once it's put back together. Even with the new paint, it's going to sell as a "poor example" in KBB - if that.
Don't get me wrong, I fully understand how much you've got in it and the attachment you have. The problem with project cars is that there pretty much worthless until their finished. Then everyone wants it!
Best of luck
Just got back from San Antonio for a little R&R. Sorry to hear about your troubles.
It's my opinion that what you've got right now is a parts car. Of course, as such it's worth more in parts than it would be as a whole. If I was looking for a project car, I'd be leary of giving you much over $1000 for the lot - but I know what the cost will be to "get it running" again. Someone from the "outside" would likely go higher - say around $2500. But I doubt you could get much more than that. As you mentioned, there's no guarantee that the car will run once it's put back together. Even with the new paint, it's going to sell as a "poor example" in KBB - if that.
Don't get me wrong, I fully understand how much you've got in it and the attachment you have. The problem with project cars is that there pretty much worthless until their finished.
Then everyone wants it!Best of luck
09-09-2002, 10:53 PM
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That sucks. I read your website regarding the restoration and like I said before its a very thorough job. Anyway here's what the free market, er Ebay, had to say about a project 951. <a href="http://forums.rennlist.com/forums/ultimatebb.php?ubb=get_topic&f=15&t=010692" target="_blank">Possible fraud on Ebay????</a>
Sure it is prepaint, but you could just add in how much yours cost to paint.
Sure it is prepaint, but you could just add in how much yours cost to paint.
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09-09-2002, 11:46 PM
#8
Three Wheelin'
Thread Starter
Thanks fellas,
Perry, I know you see your car from a similar perspective to how I see my car with an appreciation of how much you have spent and how much time you have put into it. But I would be very surprised if someone would pay $11K for a partly assembled car unless it could be verified that a known and reputable company had done all of the work. I think Icat is probably closer to the mark in that its just a parts car until its back together and someone can confirm how well it runs and handles. I guess it boild down to the fact that being able to test drive the car means that you can eliminate a lot of the risk. If you cant drive it you lose value because of that risk.
Wayne
PS yes it does suck.. royally. Talk about ruining a good day
Perry, I know you see your car from a similar perspective to how I see my car with an appreciation of how much you have spent and how much time you have put into it. But I would be very surprised if someone would pay $11K for a partly assembled car unless it could be verified that a known and reputable company had done all of the work. I think Icat is probably closer to the mark in that its just a parts car until its back together and someone can confirm how well it runs and handles. I guess it boild down to the fact that being able to test drive the car means that you can eliminate a lot of the risk. If you cant drive it you lose value because of that risk.
Wayne
PS yes it does suck.. royally. Talk about ruining a good day
09-10-2002, 12:02 AM
#9
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Even being a parts car, with what you have in it, $11k could be had from the resale of said parts. I bet you are getting close to the $16-$18K department on what you have purchased along with the core cost of the car.
Take 75% of the total in recipts, 50% in the value of the car, and you should be close to it's value.
Let us know if you need to let it go. I might take on another project. Affording it would be another issue.
Just kidding. I would sell a kidney before I had to let mine go, I am sure you are the same.
Take 75% of the total in recipts, 50% in the value of the car, and you should be close to it's value.
Let us know if you need to let it go. I might take on another project. Affording it would be another issue.
Just kidding. I would sell a kidney before I had to let mine go, I am sure you are the same.
09-10-2002, 10:07 AM
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Having been in the 'buyers market' for about 2 months (new buyer prospective, 0 Porsche experience) the car would not be saleable - so your prospective market is limited. Granted, it's limited to those who know the value - but also those who know what to look for also.
I receintally turned down an 86 that had a freshly rebuilt engine (by a known/respected shop) for $6000. The paint was terrible (and a major part in the decision) - but I also just plain don't trust rebuilt engines uless I did the work myself (or was involved most of the way).
And I'll 1 up Deepice - I'll buy it for $1 and include a promisory note to return it for no more than double that (or a good beer, whichever tastes better).
I receintally turned down an 86 that had a freshly rebuilt engine (by a known/respected shop) for $6000. The paint was terrible (and a major part in the decision) - but I also just plain don't trust rebuilt engines uless I did the work myself (or was involved most of the way).
And I'll 1 up Deepice - I'll buy it for $1 and include a promisory note to return it for no more than double that (or a good beer, whichever tastes better).
09-10-2002, 01:47 PM
#13
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having found a couple of NAs that are in that state for about $1k, I would have to say that the value would probably be in the $1000-$2500 range. anything can be sold these days, regardless of the buyer and present market. in any case, hope everything comes out with the wife thing. it'll be over before you know it. keep your car though, it's good for a little sanity, i'm there with you!
09-10-2002, 02:12 PM
#15
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Not really sure what kind of value you are looking for 
but.....
If I saw your car on Ebay or the trader going for sale exactly as I saw it and knew what you put into it I would not spend more than 3k on it.
I know that you have much more into, but the real key is that is is an unknown quantity
All of us here know that the car will be really cool when done, but this very hard to judge with an outsider. Uncertainnty is biggest problem. Also the fact that there is a VERY limited market for project cars 1/2 done. Good market for completed cars, or for TO-BE projects, but not 1/2 way.
Most people would stay away from except for friends or those that have watched you build it.
but.....If I saw your car on Ebay or the trader going for sale exactly as I saw it and knew what you put into it I would not spend more than 3k on it.
I know that you have much more into, but the real key is that is is an unknown quantity
All of us here know that the car will be really cool when done, but this very hard to judge with an outsider. Uncertainnty is biggest problem. Also the fact that there is a VERY limited market for project cars 1/2 done. Good market for completed cars, or for TO-BE projects, but not 1/2 way.
Most people would stay away from except for friends or those that have watched you build it.