This is an interesting question that will never have a suitable answer.
But here is a possible rule of thumb. Let us suppose that someone buys a
TC new in 1948 and drives it 60 miles per year for 52 years, so that
there are some 3120 miles on the clock. Other than that it has been
garaged for the whole period. Regular, loving maintenance. What should
such a car be "worth" today. One way to go is to figure purchase price,
maintenance cost, an average $100 per year storage, and a seven to eight
percent profit plus inflation, compounded daily. In other words, the
owner might expect to get back all costs plus a suitable profit for
having the forsight to buy a TC and the scrupulousness to keep it cherry.
I am guessing between $20,000 and $25,000 for that car (I don't have my
tables handy).
In principle, a restoration should never cost more than this car, no
matter how much was spent on the restoration. Because, in principle, no
restoration can have as much value as this car.
But that's just hypothetical.
Mark Hineline
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