> What should I look for before purchasing it? Asking price is a
little over
> a
> $1000.
>
>1000 bucks seems way too cheap. It is either a great deal or trouble.
>Cheers,
>Darrell
Or it could be $1000 too high. ;-) As a guy that owns a restoration shop near
here once told me when I was discussing a project LBC, sometimes, its still not
worth having the car even if someone gave it to you for free. Said a
different way: If the top value of the car in prime condition is only $7,000
for example, and it will cost you $12,000 to get it in prime condition, then
even if the car were free, its not worth touching (except to break up for
parts). Granted that is only looking at it from an economical perspective. No
emotional or conservation considerations. It will also, no doubt, generate the
debate from folks who say they can restore the car for only $3,000, etc. Or
those that say they don't want to do it concours, just as a driver.
Sometimes people get stars in their eyes looking at a car and they just don't
stop to do the math. It costs just as much (or more) to restore a TR7 as it
does a car such as a TR3, TR250 or TR6 which is worth a lot more when its done.
For that matter, it costs just as much to restore a TR7 as a TR8 (which is
clearly worth more). The TR7s just don't have enough upside in price to
justify any real investment. The only way I would get into a TR7 (which I
happen to like, by the way) would be to invest in as nearly perfect example as
I could find. And someone selling one like that knows exactly what its worth.
As time goes by (for all you Judi Dench fans), the handfull of low mileage
survivor TR7s (especially the Spiders) will find a strong market among
collectors and hold respectable value. But, as with other types of collector
cars, an unmollested survivor with low documented miles and history will always
be more sought after (valuable) than a car that was allowed to fall into
poor condition and then later restored.
-Greg H.
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