I agree with Dan - trying to restore and come out ahead is typically a
losing battle. Look for a better example. I did keep track of my
receipts on my '67 MGB - which I bought in 1995 or so. Including gas,
insurance, lisence plates and all. I was up over $26,000 last I checked
(about 6 months ago), but I've put over 100,000 miles on the car, so
that's really not that bad on a cost per mile basis, but it certainly
isn't cheap either. I would never dream that I could get back out of it
what I put in - even ignoring the running costs (capital cost is somewhere
closer to $15000). I think I could get more like $3000 - $4000. In the
long run, it will need more work to - mostly to combat rust.
Anyhow, if you're going to drive these cars, don't expect to come out much
ahead. I paid $3000 to buy mine, and overspent on things like an
overdrive transmission, wire wheels, wire wheel rear axle etc. etc.
As far as the re-shelling of a B goes......I know people that went that
route thinking it would work the best. After the fact they found they
were wrong. This was when the new shells had just come out, but they were
something like $5000, the panel fit was lousy, they still had to be
painted, and everything transferred from your car to the shell, and to top
it off they were some odd conglomeration of years of body dies that could
be scrounged up. So not everything fit properly for any specific year.
Further, one guy did it and in less than 5 years had massive rust in his
"new" rockers. I'd repeat - find a better car, don't bother with a
re-shell.
On another note - if you really want to go upside down on the money - buy
a rusty porsche 911, 914, or 356 - the parts are four times what MG parts
cost. Been there done that one too.
Phil Bates
> Peter, I think you need to get rid of the car.
>
> I see words like 'invested' and 'value' and 'collector' and that makes
> me think that you are expecting a bit too much from this MGB.... Many
> people who do a nuts and bolts restoration on these cars end up upside
> down, with more invested than the car is worth. There are just too many
> B's around, even today, to make them 'collectors', unless you have the
> first couple of cars. I think you have a '66 (?), a great example of a
> chrome-bumper car, but not one that is of any special interest.
>
> My '65 project will be undergoing some bodywork but my plan is to clean
> up and put back most of the original parts. I want it to be as original
> as possible, and frankly, when I buy used parts, I am looking for those
> with built-in patina! Doing much of your own work is another way to
> keep costs down, as you noted.
>
> So, whatever you do, go into it eyes wide open. Most of us don't total
> up our bottom line for parts spent - it's too scary! We do it because
> we love our B's, and want to drive them, not invest in them.
>
> As far as reshelling, you may be better off locating a new shell from
> the south or west, where it is dryer.
>
> Dan D
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