Re: [AMC-list] AMC values?

[Jack Dale <mercendarian@xxxxxxxxx>]

Dear Marc:  For 30K, WHO were you hiring to do the paint/body?   Your own people?   I don't think wholesale you would have spent even 3K for paint & body supplies.  That means most of what was spent, was the labor?   You should give us a run-down.  Did you start with a 2, 3 or a 5-roller?  Did you put a lot in the engine?   Not if it's stock, you didn't.  Is it even a  couple of dollars to do that passenger-side blocking fiting, so you don't HAVE to run an oil line to the mains?   I think you're "crying' for the benefit of the tax-man, which is "OK" by me.  You just didn't MAKE the 20-grand profit you thought you should be able to make, which I can't argue with, either.  Did you have a few shills available to "bid-up" your car?  Were any of your trim parts "3-D'd"?   As with any orphan, many can commiserate with spending on a "resto", but most don't get out what they put in.    Still, SOME make-out by getting an AMC.  Look at the
 Winner who got his for $18K, SAVING another $12K, minimum.   Look at the Chevies.  With body-parts being stamped for them, what IDIOT would pay North of a 100K, unless it was a documented COPA-something.  Next-time, build AMCs to order,--then you can profit, because it's what they wanted in the first place.   There are, "paper-millionaires" in AMCs.  They just started out 20-30years ago, collecting beaters and buying-out dealer-stocks.  Some clubs have half the cars owned by one man.   When he dies, there'll be a "fire-sale", that I hope you can take advantage of.   I know of a guy that does Hot Rods, but is supported by ONE client.  The client has cars-spys out all over Latin America, and will bring-in bodies to later be hot-rodded.  He pays $40-50K for a finished 'Rod, and they are mostly stock, except for paint, &, "crate"-engines.  They are capable of winning trophies, but he is Not as flamboyant as the "Name" Hot-rodders.   He does
 about one a month, and recently doubled his shop space.  The 2008-now Recession did not affect him, as his shop was doubled in that period.   Could prisoners work on your restos, like Shelby had some working for him in his Vegas assembly factory?   How about a trade-school doing some of your panel-beating/prep-work?   Maybe you could get Federal monies to restore-history, if doing a straight-stocker?   Could you start a "donate your car" website, to pay next to nothing to obtain the body/unit you'll restore?   The car will be built for an auction, but you'll charge retail-plus for your labor, not making a huge pile, but working steady?   Could you do some or all of those suggestions at once?   Hope this helps, no matter what you're Restoring.

 

________________________________
 From: Marc Montoni <Freedom@xxxxxxxx>
To: amc-list@xxxxxxxxxxxxxxxxx 
Cc: amcngmc@xxxxxxxxx 
Sent: Tuesday, April 9, 2013 2:06 PM
Subject: Re: [AMC-list] AMC values?
  
MHD wrote:


>>I have found out its sort of disappointing. I invested 5yrs and almost 
>>$30,000 into restoring a 390 4spd AMX the NADA said $35,000 high end 
>>and $28,000 low end. I drove it for 2 summer's trying to sell it and 
>>finally had to give it away yesterday for just over $18,000! 
>>
>>That makes the 5th American Motors product I have restored here at JSM 
>>auto, I am convinced it will be the last ones too. 3 AMX's, 2 
>>Rambler's, and 1 Eagle coupe all 5 were money losers. 
>>
>>They were cheap to buy, Took the most money to restore, and were the 
>>hardest thing to ever sell. So I have done my part I saved 5 but NO more.
>>
>>AMC's are worthless value wise!


NADA prices come from dealers and auctions.  Older cars that sell through dealers, are primarily to customers who are either older and are funded by equity lines (which have dried up a lot since NADA has updated its database of prices), or to customers who are trust fund babies.

NADA has never represented the real world.  Anyone who looks in there for values is looking for trouble.

The only way to see realistic prices is to start looking through ebay "completed listings".  You will see *most* of them are no-sales.  This is primarily because sellers see those inflated NADA prices and think they have a gold mine in the rusted-ass pile of crap behind the shed.

I have seen several instances of a particular car being repeatedly listed on ebay, with the reserve being reduced each time until the car sells for a reasonable amount of money.  They *always* start with a pie-in-the-sky price.  A year or two later, they finally face reality and ask a legitimate price.

One *can* get an idea of values based on reality: by asking the hobbyists who have been driving the cars for twenty years and who aren't in it to make money.

95% of the iron out there is not a money-making proposition.  It's all brands, not just AMC.  I have a neighbor who has about $60k into a Corvette that is worth half that.  He isn't get into it to make money -- he drives it to work every day and it makes him happy.

This is why I make fun of these guys who think their clapped-out, rusted, busted sedan is worth $2500 when it's really just worth maybe $400.

http://www.amcyclopedia.org/node/6680

Sorry if your experience with AMC resto was negative.  I restore my cars to drive, rather than re-sell.

Best wishes.



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MARC MONTONI * PO Box 864 * Dayton VA  22821-0864 * 804-592-6066
http://www.facebook.com/marc.montoni
http://FreeVirginia.blogspot.com/
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