When to say no to a car restoration project
Restoring a classic car is a tough job even for someone who does it full-time. The average restoration project could take several weeks for an entire team to finish. And for an individual, it could take months, or even years, according to avid classic car fan Eugene Bernshtam. However, not all projects see the light of a showroom or hit the road. More often than not, restoration projects get cancelled, or are sold to more capable restorers. In the end, accepting a project you cannot finish will simply cost you thousands of dollars and your precious time. Here are some reasons when to say no to a car restoration project.
Too expensive to restore
If a classic car is too expensive to restore, pick another model or turn down the job. If all you have is a rusted-out body of a 1965 Ford Mustang with virtually nothing useful inside, then it would take quite a bit of coin to restore just the body, let alone everything. And once you have finished the restoration, the project might not sell as much as you spent on it because it’s a fairly popular classic car.
Scarcity of parts
Some classic car models are just incredibly difficult to restore given the lack of parts. For classic cars that didn’t sell as much on purpose, seeing the job on paper should be enough for you to turn it down. For example, the Chevrolet Camaro ZL1 can be restored and can sell up to nearly $800,000. However, there were only 69 models ever made according to Eugene Bernshtam. This makes it almost impossible to restore if you are new in the business.
Eugene Bernshtam is a real estate developer and head of Avalon Holdings, LLC and its affiliated entities. An Eastern European immigrant, he graduated from the Loyola Business School with a bachelor's degree in finance and received both series 7 and series 63 certification to sell investment securities. For more reads on classic car restoration, visit this website.
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source: hotcars.com |
If a classic car is too expensive to restore, pick another model or turn down the job. If all you have is a rusted-out body of a 1965 Ford Mustang with virtually nothing useful inside, then it would take quite a bit of coin to restore just the body, let alone everything. And once you have finished the restoration, the project might not sell as much as you spent on it because it’s a fairly popular classic car.
 |
Image
source: youtube.com |
Some classic car models are just incredibly difficult to restore given the lack of parts. For classic cars that didn’t sell as much on purpose, seeing the job on paper should be enough for you to turn it down. For example, the Chevrolet Camaro ZL1 can be restored and can sell up to nearly $800,000. However, there were only 69 models ever made according to Eugene Bernshtam. This makes it almost impossible to restore if you are new in the business.
Eugene Bernshtam is a real estate developer and head of Avalon Holdings, LLC and its affiliated entities. An Eastern European immigrant, he graduated from the Loyola Business School with a bachelor's degree in finance and received both series 7 and series 63 certification to sell investment securities. For more reads on classic car restoration, visit this website.
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