Cost Spreadsheet
Thread Starter
Racer
Joined: Aug 2005
Posts: 480
Likes: 2
From: Maryland
Cost Spreadsheet
I was curious if anyone would be willing to share a restoration cost spreadsheet they may have developed for the restoration of a mid-year.
While I know labor costs can vary widely depending on location, I am more interested in getting a good handle on all the hard costs, i.e. replacement parts or restoration of such parts. It seems we tend to over look the small items which add up at the end of the day.
I am looking at a mid-year which would need a body-off and have a rough idea of the overall costs, but really would like to break those costs down. The car has not been cut up, but just really needs to be restored.....Any help would be appreciated.......Jovi
While I know labor costs can vary widely depending on location, I am more interested in getting a good handle on all the hard costs, i.e. replacement parts or restoration of such parts. It seems we tend to over look the small items which add up at the end of the day.
I am looking at a mid-year which would need a body-off and have a rough idea of the overall costs, but really would like to break those costs down. The car has not been cut up, but just really needs to be restored.....Any help would be appreciated.......Jovi
Safety Car
Joined: Jan 2004
Posts: 4,270
Likes: 561
From: Macedonia Ohio
I don't have a spreadsheet but I can tell you that my estimate was blown out of the water. I sat down to figure out the cost of restoring my 65 and added what I thought was a generous $2,500.00 extra to cover misc. I blew that away. There are a lot of hidden costs and "may as wells". If you need an accurate estimate don't overlook these.
I would think that there would be some guidelines in some of the restoration books like Nolan Adams. You may also want to contact a restoration shop in your area and ask what they would charge and exactly what they would do.
I would think that there would be some guidelines in some of the restoration books like Nolan Adams. You may also want to contact a restoration shop in your area and ask what they would charge and exactly what they would do.
Tech Contributor
Joined: May 2005
Posts: 15,576
Likes: 118
From: Conroe Texas
Again, I did NOT restore this car, just fixed all the little nagging things and got it back on the road.
Safety Car
Joined: Jun 2000
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From: St. Louis MO
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Whatever you come up with for a COST ===> Double it then add 50% to that for good measure and you will still probably be short of final $$$$
Formula
Lots of Planning == Detail Estimate
Detail Estimate * 2 == Good Guess
Good Guess + (Good Guess * 50%) == Better Guess
Final Cost == None Of the Above
BUT
When done and you are happy
Final Cost == Priceless
George
Formula
Lots of Planning == Detail Estimate
Detail Estimate * 2 == Good Guess
Good Guess + (Good Guess * 50%) == Better Guess
Final Cost == None Of the Above
BUT
When done and you are happy
Final Cost == Priceless
George
Safety Car
Joined: Mar 2001
Posts: 4,359
Likes: 116
From: AUSTIN Tx
Jovi,
If it was possible to accurately predict the cost of restoring a car, most would never get restored! I am not sure that I want to know how much it costs, before or after!
Regards, John McGraw
If it was possible to accurately predict the cost of restoring a car, most would never get restored! I am not sure that I want to know how much it costs, before or after!
Regards, John McGraw
Tech Contributor
Joined: May 2005
Posts: 15,576
Likes: 118
From: Conroe Texas
I'm restoring a 1956 Oldsmobile Holiday 98 Coupe. Factory A/C, power steering/brakes/windows/seat, factory leather interior.
I'm 460% over budget, SO FAR
Thread Starter
Racer
Joined: Aug 2005
Posts: 480
Likes: 2
From: Maryland
I agree 100%. As many have said here before, probably better to buy one which has already been done then go through the process of restoring it yourself. There is gratification in doing it yourself, but it is going to come down to drivng it or spending countless hours working on it.....Jovi
Le Mans Master
Joined: Feb 2008
Posts: 7,876
Likes: 9
From: Toronto Ontario
My wife came up with a very simple formula for estimating costs of any Vette-related project that I undertake. She tells me to cost out everything I plan to do including my "It would be nice to do now, but I can wait list". Then she takes my highest estimate and she doubles it and adds 10%. She has been remarkably close every time! 
- Pat
- Pat
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Tech Contributor
Joined: May 2005
Posts: 15,576
Likes: 118
From: Conroe Texas
My wife came up with a very simple formula for estimating costs of any Vette-related project that I undertake. She tells me to cost out everything I plan to do including my "It would be nice to do now, but I can wait list". Then she takes my highest estimate and she doubles it and adds 10%. She has been remarkably close every time!
- Pat
- Pat
Pro
Joined: Jul 2000
Posts: 653
Likes: 9
From: Ottawa, Ont. Canada
One factor in the restoration cast is travel/lodging. I went to Carlisle several times to look and buy parts, trips that were quite expensive in travel and lodging cost.
Should that be included in the restoration cost? You bet it does.
What about long distance calls, shipping fees and other misc. cost not directly attributed to the restoration? They should be included too.
Pierre
Should that be included in the restoration cost? You bet it does.
What about long distance calls, shipping fees and other misc. cost not directly attributed to the restoration? They should be included too.
Pierre
Burning Brakes
Joined: Aug 2001
Posts: 1,104
Likes: 1
From: Frederick Md
MS Works
I was curious if anyone would be willing to share a restoration cost spreadsheet they may have developed for the restoration of a mid-year.
While I know labor costs can vary widely depending on location, I am more interested in getting a good handle on all the hard costs, i.e. replacement parts or restoration of such parts. It seems we tend to over look the small items which add up at the end of the day.
I am looking at a mid-year which would need a body-off and have a rough idea of the overall costs, but really would like to break those costs down. The car has not been cut up, but just really needs to be restored.....Any help would be appreciated.......Jovi
While I know labor costs can vary widely depending on location, I am more interested in getting a good handle on all the hard costs, i.e. replacement parts or restoration of such parts. It seems we tend to over look the small items which add up at the end of the day.
I am looking at a mid-year which would need a body-off and have a rough idea of the overall costs, but really would like to break those costs down. The car has not been cut up, but just really needs to be restored.....Any help would be appreciated.......Jovi
It's not in regular excel.
Le Mans Master
Joined: Feb 2008
Posts: 7,876
Likes: 9
From: Toronto Ontario
Thread Starter
Racer
Joined: Aug 2005
Posts: 480
Likes: 2
From: Maryland
How about when she says I just need to pick up a new Coach purse and comes home with 6 pair of new jeans, 3 purses and a host of other #%&*%##. $300 just went to $1800......
Melting Slicks
Joined: Feb 2007
Posts: 2,937
Likes: 163
From: OP Kansas
C2 of Year Finalist (appearance mods) 2019
Anyone that has been around cars for any length of time knows you should never put a spread sheet together.
It will just depress you and you probably won't go through with it.
I feel it's best just to do what you can when you can and have a short memory.
Good luck on what ever you decide to do.
It will just depress you and you probably won't go through with it.
I feel it's best just to do what you can when you can and have a short memory.
Good luck on what ever you decide to do.
Burning Brakes
Joined: Dec 2005
Posts: 1,098
Likes: 1
From: west babylon new york
i just tell people between 80/100 grand, then look at their body reaction to see if they flince ,as most if not all are not willing to spend this amout, but it is better to know upfront how much before they tear their car appart for no reason ,i have heard of storries about cars sent out for paint then they get upwards of 30,000 or more with body reconstruction,i did my 61 for 15000 plus ,3tho purchase price 3000 hrs labor ,a free chassis straightening [checking] and a free paint job by 2 local shops that i send work plus lotsa free parts by my local parts distributers ,no cost trans rebuild ;free rear rebiuld bearings seals nuts,lugs, it gets very expensive so if you can,t or don,t want to do it yourself just freshen it up a little at a time you get the picture
Team Owner
Joined: Mar 2002
Posts: 44,681
Likes: 1,830
From: Huntsville AL
Very true statement, I did all the labor on the 65 myself and based on what I have in parts alone, it would cost someone about 80K to hand a restoration project of this size off to someone.
Burning Brakes
Joined: Jun 2004
Posts: 1,123
Likes: 2
From: Sandia Park NM
I hope your not going to tell your wife who just saved $500. but spent a grand, to save you the 500.
Picked up my project 1100 from home. Paid $15000. and had a body shop who was charging me $8000. to do all the body work and remove the body so I could do the chassis. Cost another 850. to put it on a straightener because it was not aligning right.
Got the chassis back and went to work stripping the rest of it down that was not in boxes [see pics]. Packed it all up including everything I could have powder coated included seat frames a-arms and so on 650. and change.
I updated everything as I did not want to take it apart again. Ask me and I did it and it turned out great including the T-5 speed recently installed. a 1.5 years after completion. Your never done.
Probably spent between $25-30,000. on top of the purchase price.
It is a brand new car with air and all the updates, and is a great car to drive. PM me and we can trade phone # if you would like to discuss more.
Dennis
Picked up my project 1100 from home. Paid $15000. and had a body shop who was charging me $8000. to do all the body work and remove the body so I could do the chassis. Cost another 850. to put it on a straightener because it was not aligning right.
Got the chassis back and went to work stripping the rest of it down that was not in boxes [see pics]. Packed it all up including everything I could have powder coated included seat frames a-arms and so on 650. and change.
I updated everything as I did not want to take it apart again. Ask me and I did it and it turned out great including the T-5 speed recently installed. a 1.5 years after completion. Your never done.
Probably spent between $25-30,000. on top of the purchase price.
It is a brand new car with air and all the updates, and is a great car to drive. PM me and we can trade phone # if you would like to discuss more.
Dennis
Last edited by OCS1667; Nov 27, 2008 at 02:22 PM.
Drifting
Joined: Aug 2000
Posts: 1,689
Likes: 1
From: Peoria AZ
There are SO many variables as well..are you doing it to NCRS? How complete is your car already...are you going to have to go out and get date coded starters, alternators, and so on. Date coded glass vs non date coded etc. Are you going to use reproduction parts or try and get all original parts restored or try and find NOS parts. Every restoration is different with different starting and ending points as well. I would agree with the others and say DON'T try and figure out what you have in it...just do it or sell it as is and buy what you want already done.