Thread: 1953 Ser 1

I was interested till I saw the price tag

Originally Posted by DeeJay

I was interested till I saw the price tag

It's easy to say that until you try to do a complete restoration.

It will cost you around $5,000.00 just for an engine recondition including the parts from the U.K. The steering boxes can only be properly restored by a company in London and yes you have to send your box over there to do it.

A friend had a quote for a re-spray of a series 1 (Orange NSW) $10,000.00 so there is $15,000.00 in just 2 items, although I will accept the the paint job in the ad is not a $10,000 job however that aside. That is the price that 80" Land Rovers should be going at, it IS what they are sold for overseas and a lot less than the $25,000.00 1950 that went from Cooma last year. And that vehicle was worth every cent of $25,000.00.

Diana

Originally Posted by Lotz-A-Landies

It's easy to say that until you try to do a complete restoration.

It will cost you around $5,000.00 just for an engine recondition including the parts from the U.K. The steering boxes can only be properly restored by a company in London and yes you have to send your box over there to do it.

A friend had a quote for a re-spray of a series 1 (Orange NSW) $10,000.00 so there is $15,000.00 in just 2 items, although I will accept the the paint job in the ad is not a $10,000 job however that aside. That is the price that 80" Land Rovers should be going at, it IS what they are sold for overseas and a lot less than the $25,000.00 1950 that went from Cooma last year. And that vehicle was worth every cent of $25,000.00.

Diana

A particular 80" may be "worth" that amount. However, justifying the price you are asking for any vehicle on how much it cost you to restore it is, in most cases, self deception.

The value of anything is what someone is prepared to pay for it, not how much it cost you, and this is nowhere more apparent than in vehicles (although houses may come a close second). Take any car that is a goer, and recondition the engine for example - you have made almost no difference to what you can sell it for, just made it easier to sell, even if you have just spent $5-10,000 on it. For example, my 110 is currently worth about $5-7500; if I reconditioned the engine for $10,000, it might have risen in value to as much as $10,000, but I'd probably still be lucky to get $8000 for it.

And for something as bulky as a car, overseas prices have to be tempered by the cost and difficulties with shipping - this even applies within Australia.

John

[quote=Lotz-A-Landies;707163]It's easy to say that until you try to do a complete restoration.

It will cost you around $5,000.00 just for an engine recondition including the parts from the U.K. The steering boxes can only be properly restored by a company in London and yes you have to send your box over there to do it.

A friend had a quote for a re-spray of a series 1 (Orange NSW) $10,000.00 so there is $15,000.00 in just 2 items, although I will accept the the paint job in the ad is not a $10,000 job however that aside. That is the price that 80" Land Rovers should be going at, it IS what they are sold for overseas and a lot less than the $25,000.00 1950 that went from Cooma last year. And that vehicle was worth every cent of $25,000.00.

As John says, restorations are never cost effective. I based my comment on the fact I have a mate who has tried several times to sell his similar "55 - and not used at all since restored, for ten grand. According to the Vic LROCV guru its worth is not that much.

Son: "Hey Dad...there's an add in the Post for a Series 1!"

Dad: "What's he asking?"

Son: "15k!"

Dad: "Tell him he's dreaming!"

Apologies to the 'Castle'.

It's all very good to decry that an old Land Rover (or Jeep) for that matter "isn't worth" what a seller wants because a few years ago they were (unrestored) languishing in a paddock and could be bought for almost nothing.

There is also a difference between people who think they can cheaply get an old vehicle running and confusing that with restoring and rebuilding it properly.

From the photos it looks to be a nice vehicle and the seller will probably sell it at the price or close to it considering it's registered, obviously runs okay if it is a daily driver (after all they were all daily drivers once) and has other parts that are all worth money. Any good 80" hardtop complete has got to be worth + $600. A PTO winch is worth money and a complete capstan winch that will fit straight on is worth more $. Vehicles like this one have sold at that price recently.

Who would have thought genuine Falcon GTs, Chargers and Monaros would have had such meteoric increases as we have seen in recent years. After Cooma there will be more interest in restoring Land Rovers of all types.

Anyway here is an old take on restoration:

Purchase weekend newspaper to read For Sale advertisements 1.20
The actual purchase of a ton of rust on four wheels 1,500.00
Flowers for wife to break the news 25.00
Dinner at restaurant after argument with wife 70.00
Restoration costs -engine reconditioning and chassis rebuild 8,000.00
Parts and endless trips to Swap meets 1,250.00
New lounge suite to balance ledger and keep wife happy 2,800.00
Restoration costs -new upholstery and hood 5,900.00
Flowers for wife to save buying a new kitchen suite 25.00
Dinner at restaurant after argument with wife 75.00
Family trip to to compensate for 1000 hours spent in thegarage 2,000.00
Restoration costs -panel beating and spray painting 4,500.00
New outfit for wife to save another argument 225.00
Dinner at restaurant after argument with wife 70.00
Registration, other on road-costs and stamp duty 1,000.00
Dinner at restaurant to celebrate finished project 70.00
Visit to hairdresser after wife's first ride in open tourer 30.00
BBQ to invite neighbours in to see the finished project 50.00
Repairs to paint work after neighbour's son drew a crayon picture 1,500.00
Settled out of court for clobbering neighbour's son 450.00
New slacks and cardigan for wife to go rallying in 290.00
New shoes to go with slacks and cardigan 75.00
New handbag to go with shoes, slacks and cardigan 45.00
Dinner at restaurant with wife after asking her to economise 70.00
New clutch after teaching wife to drive vintage car 250.00
Dinner at restaurant after shouting at wife to release clutch slowly 70.00
Repairs to mudguard after wife's second driving lesson 1,250.00
Dinner at restaurant after shouting at wife to look where she's going 70.00
Speeding fine after wife drag raced young lad at the lights 250.00
Candlelight dinner at home, can no longer afford restaurant 20.00
Advertisement in weekend paper "Vintage Car For Sale 14.00
Total 31,945.20
Proceeds of vintage car, due to market downturn 12,500.00
Balance - outstanding loan added to mortgage 19,445.20

But you should also bear in mind some restored vehicles keep rising in price and keep many auction houses going.
Bob

Originally Posted by bobslandies

It's all very good to decry that an old Land Rover (or Jeep) for that matter "isn't worth" what a seller wants because a few years ago they were (unrestored) languishing in a paddock and could be bought for almost nothing.

There is also a difference between people who think they can cheaply get an old vehicle running and confusing that with restoring and rebuilding it properly.
............

I'm not saying it is not worth it - what I said is that what it cost to restore is pretty much irrelevant to its value.

In fact 80" Landrovers are getting to be pretty scarce, and their value is certainly on the upward trend, and it is possible that this one IS worth that much. If it is, someone will pay that much for it!

John

Originally Posted by JDNSW

If it is, someone will pay that much for it!

John

John

Pretty much on the mark there, a vehicle is worth what someone is willing to pay for it. If you are considering a quick liquidation of an asset, old Landies may not be the right sort of investment.

If you have one of these, you should consider what it is worth to you, hold onto the price and eventually you may find a buyer. Otherwise you still have your beloved "asset", when all the old farm WRX have been found the market will eventually find your value. Unfortunately you may be dead first!

Diana