[Fot] rebuildable TR3A value?

[Justin Wagner]

TeriAnn....

I've generally found that Triumph pricing is pretty much tied to how 
much parts and painting would cost to bring the vehicle to a good 
restored standard.   What's not in the calculation is labor (except for 
labor involved with body work, rust repairs, etc. by a reputable shop).

Subsequently, if you want to bring the car up to a quality of 
restoration that would likely be worth $15,000 in today's market, you 
figure out what bodywork/paint would cost and what the needed parts 
would cost.... to bring it to that level....    i.e.   $6000 in parts, 
$4000 paint job....  means that such a car is worth about $5000.

You mentioned your find needs new floor panels....  and possible rust 
issues.... would likely need a new transmission... engine rebuild, 
etc...  this can really add up...

So now, take note....   labor for restoration work other than body 
work/painting doesn't seem to ever be part of the equation....

The point there is....   the market rarely rewards you for your labor 
with these cars.   Subsequently, the only people that can restore these 
cars to "flip"... for a real profit.... are those that can really bring 
down their parts and labor costs....   i.e. an established shop with 
access to parts cars, wholesale parts pricing, etc. 

Of course there are exceptions...   putting in the extra elbow grease 
and dollars, to make the car an extremely good restoration... can equate 
to a significantly higher selling price...much more than the example of 
$15K,  but then you're looking at the old, "it takes money to make 
money"... as you'd have to put all the more money into parts and all the 
more of your time and labor...

On occasion, you can simply get a deal.     Sometimes those "new parts" 
collected for that restoration that never happened are worth as much as 
or  more than the car.... and yet the seller just lumps it in and you're 
really getting those parts for free, etc.   So it may be worth going 
over this inventory of spares more carefully.

I'm always amazed to hear of some great deals...  usually it's because 
someone saw a Triumph parked in a field or behind a building, etc., that 
looks like it's been there for a long time... or maybe they noticed it 
sitting there for years... and they made inquiries... and the owner just 
let's the car go for peanuts.   It happens.

That said, I'm generally pretty amazed at how you can look at photos of 
Triumphs for sale, and the prices inevitably correlate very closely to 
what it would take to bring them up to snuff.   The traps are usually 
the cars that are a hell of a lot more clapped out than you think...  
These are the ones to watch out for.  

It appears you're  in California, as I am...  trust me... you can find a 
TR3 that doesn't have any rust issues....  That can be difficult for our 
friends in parts of the east coast, etc.     You can save a lot of money 
and headaches by starting with a relatively rust free car.    I recently 
purchased a 1954 TR2....  and rust is not an issue....period.    It's 
worth inspecting the rust issues closely, especially when it's already 
apparent that it needs new floor boards.

Just my thoughts...  Cheers.

--Justin




TeriAnn Wakeman wrote:

>There is a TR3A (TS768 something) that might be up for sale.  The owner 
>is trying to sell his house and the 3 must go.  The vehicle is located 
>in the Santa Cruz, California.  If I went through the effort to rescue 
>it then turn it over I am wondering what a project TR3A is worth these days.
>
>It was originally sold in France, resold to an American serviceman who 
>brought it to the States.  It was later sold to the present owner who 
>decided to restore it about 20 years ago.  He quickly discovered he 
>didn't have the body work skills so the project sat &  he restored a '55 
>T-bird that didn't need body work instead.
>
>The car: 1960 BRG.  It appears to be a solid project vehicle that is at 
>least 90% complete. It needs new floor panels, may or may not need outer 
>sills.  There is a little rust here & there but most looks like surface 
>rust from  old unpainted primer.  The engine turns but has not been 
>fired up.  There are 2 gearboxes, one W/O overdrive & an overdrive box 
>without the overdrive.  It has painted wire wheels, the  steel factory 
>hard top, hood sticks, optional heater & tonneau cover. 
>
>There is a new uninstalled black interior kit and new installed carpet 
>kit plus unspecified new & used parts in boxes.  The body panels are 
>loosely bolted to the tub but it looks like a more solid base that the 
>car than mine was.  The instrument panel & steering wheel area appears 
>to be untouched and the seats seem solid.
>
>Any ideas as to that this project car would be worth in today's market?  
>I'm trying to decide if it is worth the effort to dig out, go over it to 
>better ascertain condition, locate the assorted parts , see what's there 
>& put it up for resale.  I'm not thinking about top dollar, just a 
>reasonable price to someone who would restore it or convert it into a 
>race car.
>
>Any thoughts?
>
>Teriann
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