KD in CA Posted August 5, 2008 Share Posted August 5, 2008 Does anyone here have any experience restoring classic cars? My late father in law had a '78 Cadillac Eldorado convertible that we are trying to figure out what to do with. It hasn't been started in several years, but is in fairly good shape (little or no rust, interior/soft top are in very good condition). We had a guy take a look at it yesterday and give us a general estimate of how much it would take to restore it to mint (or as close as we can get), but it seemed pretty high. I realize it could be a wide range but I'm assuming there are no major engine/other systems issues based on talking to my brother in law. Anyone have an idea of what something like that should cost (or be worth once restored)? Thanks Link to comment Share on other sites More sharing options...
DrDawkinstein Posted August 5, 2008 Share Posted August 5, 2008 that era of caddies is hit or miss, value/price wise. the electronics in them can be a major deterrent for some people. theyre sweet rides but unfortunately not worth as much as they look like they should be. got any pics to post? Link to comment Share on other sites More sharing options...
stuckincincy Posted August 5, 2008 Share Posted August 5, 2008 Does anyone here have any experience restoring classic cars? My late father in law had a '78 Cadillac Eldorado convertible that we are trying to figure out what to do with. It hasn't been started in several years, but is in fairly good shape (little or no rust, interior/soft top are in very good condition). We had a guy take a look at it yesterday and give us a general estimate of how much it would take to restore it to mint (or as close as we can get), but it seemed pretty high. I realize it could be a wide range but I'm assuming there are no major engine/other systems issues based on talking to my brother in law. Anyone have an idea of what something like that should cost (or be worth once restored)? Thanks You might want to root around Hemmings Motor News classifieds... http://www.hemmings.com/makepage/cadillac/...0&sort=year Link to comment Share on other sites More sharing options...
eSJayDee Posted August 5, 2008 Share Posted August 5, 2008 Likely a lot more than you think & more than it'll be worth. I just did a "restoration" paint job on my '68 Charger & it took me over 300 hrs. Granted, I'm slower than a pro, but I'm sure it would've taken them over 200. At $60 or whatever per hr plus a couple thousand for material, you're talking over $10k for the paint job alone. Roughly speaking, depending on the condition of the car, it's type & how pristine/exact you want the results, you're talking 1000-3000 hrs labor for a complete restoration. Not familiar w/ Caddy's, but most GM products of that era are pretty easy & cheap (relatively speaking) to get parts for. Still, you could probably find your way to spend maybe $20k on parts. Again, roughly speaking, if you're thinking of restoring a "regular" car, the parts will cost roughly what the car will be worth when done; if you have to pay someone for the labor, it's a losing proposition. On the plus side, consider it a volatile investment. If you hold onto it long enough, it may end up making you money. In the time being, you get to enjoy it (& it's 8 mpg fuel economy ). Link to comment Share on other sites More sharing options...
NCDAWG Posted August 5, 2008 Share Posted August 5, 2008 Does anyone here have any experience restoring classic cars? My late father in law had a '78 Cadillac Eldorado convertible that we are trying to figure out what to do with. It hasn't been started in several years, but is in fairly good shape (little or no rust, interior/soft top are in very good condition). We had a guy take a look at it yesterday and give us a general estimate of how much it would take to restore it to mint (or as close as we can get), but it seemed pretty high. I realize it could be a wide range but I'm assuming there are no major engine/other systems issues based on talking to my brother in law. Anyone have an idea of what something like that should cost (or be worth once restored)? Thanks The value usually depends truly on the mileage. For no matter how much restoration you do, you cannot turn back the mileage. That being said I have restored a 1965 caddy eldorado, 66 caddy conv., and a 64 convert., spent anywhere from 3,000-15,000 depending on the level of restoration. And these are by no means "showroom" cars. Had a buddy spend 30,000 on a 64 caddy that was one step below a frame off resto. I always used mine as daily drivers, because I wanted to enjoy them everyday. If it is worth it to you than do it. Link to comment Share on other sites More sharing options...
SD Jarhead Posted August 5, 2008 Share Posted August 5, 2008 Restoring classic cars is a labor of love and usually doesn't show a ROI dollar for dollar. An exception is if you had a highly collectable (i.e. old Shelby) barn find that you got for cheap. Much like the real estate market, there also is timing involved in the purchase. For example, I have a 1968 Mustang GT Fastback that I purchased in 2001 for $9k in great shape. About a year ago I could've sold the car for ~$30-35k, although I suspect with the funny money supply drying up it'd sell for less than that today. Mind you I have put extensive hours and about $10k in improvements and maintenance into it. But there's nothing like cruising and having people give you the thumbs up or meeting old people who share their memories of having a similar car when they were young. For me, it has been a way for my son and I to bond since he is in love with the car and helps me wrench on it. Link to comment Share on other sites More sharing options...
stuckincincy Posted August 5, 2008 Share Posted August 5, 2008 Restoring classic cars is a labor of love and usually doesn't show a ROI dollar for dollar. An exception is if you had a highly collectable (i.e. old Shelby) barn find that you got for cheap. Much like the real estate market, there also is timing involved in the purchase. For example, I have a 1968 Mustang GT Fastback that I purchased in 2001 for $9k in great shape. About a year ago I could've sold the car for ~$30-35k, although I suspect with the funny money supply drying up it'd sell for less than that today. Mind you I have put extensive hours and about $10k in improvements and maintenance into it. But there's nothing like cruising and having people give you the thumbs up or meeting old people who share their memories of having a similar car when they were young. For me, it has been a way for my son and I to bond since he is in love with the car and helps me wrench on it. Nicely said. My guess is that KD's '78 Eldo convertible likely has running gear problems, not having been started for several years - lubricated parts frozen in place or below good operating condition, gas tank, brake lines, electrical motor parts, suspension bushings and the like. Since the body, interior etc. is said to be in good shape, I'd work on the mechanicals, and like you, enjoy the classy ride. Link to comment Share on other sites More sharing options...
apuszczalowski Posted August 5, 2008 Share Posted August 5, 2008 It all depends on what kind of restoration you are talking about for expense and what kind of condition its already in, plus what needs to be done. You could just get whatever is wrong fixed on it, and maybe a freash coat of paint and be done, or you could have someone do a full frame off resto where they disassemble everything and rebuild, that would be the most expensive, but probably unnecessary unless its in rough shape. Personally, I can't stand having a "showroom piece". I love classics, but I want to drive them all the time. I want something that can be used and I'm not affraid to take out. Its tough to make money off the vehicle doing a full resto having someone else do it, and I am assuming that since its a family vehicle you want to keep it in the family, so you will probably want something you can use and not something to flip and try to turn a profit with. Honestly, i would say have anything needed fixed fixed, and have it look good and drive it. Cars were meant to be driven and enjoyed. Link to comment Share on other sites More sharing options...
KD in CA Posted August 5, 2008 Author Share Posted August 5, 2008 Thanks for the replies guys; i'll have to do a little more digging and get another estimate, but it sounds like $10k to get it road worthy in nice shape is probably not out of line. I'm pretty sure we want it as a driving car, not a showroom car. Certainly want to be able to sell it eventually for at least what we put into it and hopefully enjoy it for a while first. This just got dumped onto us, but if I end up with this as my weekend ride in the fall I'll be pretty psyched! Link to comment Share on other sites More sharing options...
gmac17 Posted August 5, 2008 Share Posted August 5, 2008 I just did a "restoration" paint job on my '68 Charger & it took me over 300 hrs. dude, maco would have hooked you up up for $400! how do you spend 300 hours on a paint job? I can't even fathom that (assuming a restoration paint job also involves a lot of body work??) Link to comment Share on other sites More sharing options...
Buffaloed in Pa Posted August 5, 2008 Share Posted August 5, 2008 This is what I do for a living. Auto-body. I restored my 68 ss camaro. It took me a couple yrs. It won some best of shows. Anyway a caddy that year really isn`t worth restoring to really be worth that much. But hey if it has sentimental value to you and you like it ,go for it. Link to comment Share on other sites More sharing options...
MattyT Posted August 5, 2008 Share Posted August 5, 2008 My neighbor used to REALLY be into classic cars....until he got his hose stuck in the tailpipe of a '68 Mustang. (sorry in advance) Link to comment Share on other sites More sharing options...
Alaska Darin Posted August 5, 2008 Share Posted August 5, 2008 dude, maco would have hooked you up up for $400! how do you spend 300 hours on a paint job? I can't even fathom that (assuming a restoration paint job also involves a lot of body work??) Because he did it right. If you block a car properly, it takes freakin' forever. Link to comment Share on other sites More sharing options...
eSJayDee Posted August 5, 2008 Share Posted August 5, 2008 how do you spend 300 hours on a paint job? It didn't need much body work as I had painted it in lacquer about 13 yrs ago & I don't drive it much & it's always garaged. Disassemble and sand it down to bare metal. Each panel got primed & sanded about 3 times in order to get it perfectly smooth. (Most places will skim coat it w/ filler instead, which is quicker but results in thicker material & less sharp lines.) Paint. Color sand (by hand) and buff. Then reassemble. I'll add if you've ever seen 40 yr old bare steel based sheet metal, it's anything but straight & smooth. Time adds up. Link to comment Share on other sites More sharing options...
Buffaloed in Pa Posted August 6, 2008 Share Posted August 6, 2008 It didn't need much body work as I had painted it in lacquer about 13 yrs ago & I don't drive it much & it's always garaged. Disassemble and sand it down to bare metal. Each panel got primed & sanded about 3 times in order to get it perfectly smooth. (Most places will skim coat it w/ filler instead, which is quicker but results in thicker material & less sharp lines.) Paint. Color sand (by hand) and buff. Then reassemble. I'll add if you've ever seen 40 yr old bare steel based sheet metal, it's anything but straight & smooth. Time adds up. WHAT?? I have 30 yrs Exp. Your killin me Link to comment Share on other sites More sharing options...
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