CamsPorsche

Just sold for $24,100 on Ebay and was being sold in Callingwood Ontario.

Original engine, transmission, and wheels. Its rusted but what are your thoughts?

I'm trying to get a guage for the market. I presumed another $50k to restore it...

Kelvin38

Was this the red Targa that was listed on Kijiji then directed to an eBay link?

StanThePorscheFan

Yes, thats the one. $24KUSD is a lot for a 911 Targa rust bucket, but is cheap compared to a 912 @ Hershey for $18KUSD.

Cam, hard to say without looking at it closely. I'd say anywhere between $60-75KCAD to restore properly.
The body $15-20K (depending on the level of rust. Tragas are more difficult to restore, as you have to support the open roof when you cut the floor out to preven folding of the frame)
The motor and trany $15-20K
Brakes, suspension, bushings, etc $5-7K
The interior $12-15K (Targa tops are expensive)
Trim, rubber, chrome, electrical, etc $12-17K (USD rate is a killer here)
Tool kit $4K
Jack $300
Radio $500
Owner's manual $350
I can keep going here

So $24KUSD is almost $30KCAD plus lets say $65K to restore. One Hundred Large! And that's not even a SWB. Seems too much at the moment. Who knows where these prices are heading. Could this be a bubble? Possibly. Will the early 911 market crash? Unlikely. It might correct itself a little, then continue to go up at a much slower rate. I remember this happened to 356 cabrio market. When everyone was restoring one, the prices were climbing daily. Then when all those restored cars hit the market, the prices dipped a bit, the demand cooled and you could buy one for less than it cost to restore. Then the prices for cars continued to grow at a more normal rate. However, the prices for parts never stopped growing and this is what dictates the cost of restored cars today. Remember the white restored 356 coupe at Hershey for $95K? You could buy an excellent condition all original 356 coupe last year for $50KUSD.

So my opinion is, to buy and restore an early 911 today should only be done with intent to keep the car for your own enjoyment for at least 5-7 years. And that means finding the right model in the right color you will love, not just any first good deal you see.

tcsracing1

Restoration projects are not worth buying unless it is a rare production and in demand collectable.

It is typically cheaper to buy something already completed the to attempt a restoration.

you can buy 1972T for $50-100k completed. That would be the price of the restoration alone on a rusty project.

If you can find a rust free project then it is worth your while if you are carefull with the budget, but you need to have a stomach for it.

CamsPorsche

Excellent responses guys. Yeah when comparing this 911T to the 912 in Hershey for $18k it seemed a good deal but once one accounts for all of the other restoration works then its clear there wasn't a deal to be had.

I'm keeping my eyes peeled...

boman993

This is really good advice if you are only looking at the final end goal ~ a restored, completely drivable museum piece...But if you're the type of owner who wants to spend a few years tinkering, deciding, designing and outfitting your own, bespoke restoration, finding a clean cheap car to go on a build journey with is not a bad option either!

Depends on what type of experience you are after! Both are awesome!

ronnie993tt

Excellent post Stan. Wish Panorama and Excellence itemized costs this well.

StanThePorscheFan

http://www.thesamba.com/vw/classifie...php?id=1715494

This one is actually fairly priced.

nr1416

Amazing info here, thanks for sharing your input Stan.

porsche0nut

Excellent posts!

I also agree with boman, for many the journey is part of the satisfaction, and adds value to the owner aside from the worth of the end result. If one has the time, patience, tools, and space; a lot of the budget can be cut from doing your own work. But it has to be a labour of love, not a job.

tcsracing1

For anybody looking to do a restoration but on their own time you can cut a few corners and save money by doing things yourself.

Typically a restoration at home takes twice as long to complete and usually costs twice as much than anticipated but can be done within a reasonable budget and for less then hiring a shop to perform the restoration.
It can be very rewarding and also very discouraging.
You need the space to work with onsite (which some people do not have). Access to tools is also key.
Trailer helps but you can also hire car carriers from time to time.

When doing a restoration you typically want all new parts to complement the build. But you do not need to use new parts to keep costs down. You can keep some patina on and in the car.

If you have a full time job and value your weekends with family, then the restoration will take a long time.
But for some folks that is ok as long as they have a long hood in the garage

I have gone through multiple restorations for myself and they never really get 100% finished. the last 10% is always the hardest for whatever reason. lol.

My advise is pay a little more now, otherwise you will pay alot later.
Look for the most complete car you can find with the minimal amount of rust.
Bodywork is always the killer, and incomplete cars are a pain when it comes to finding little nic nacs etc..

911 Rod

The days are long gone from when the average guy could buy one of these cars just to tinker on in the garage.

Sad really.

StanThePorscheFan

I feel partially responsible and I am not sad. There are plenty of other Porsches one can still buy to tinker with.
Plus it's like saying that I wish my house didn't go up in price so much, so others can afford it. Though this is actually a problem, especially for first time buyers and lower income families. Cars becoming collector items isn't really a problem, imo. But of course I see what you are saying.

Imo000

I nearly fell on my *** when I saw the 912 prices at Hershey.