DC10

Nowhere Man

like any other custom cars when the latest and greatest tech is not any more its just a dated used car no one wants as is. the same can be said for resto mods. the same trend can be seen in all those 90's pro street cars where as all those car restored cars to stock done in the 90's kept in good condition the value has gone up. all the first edition resto mods with LS-1 engines with C4 parts have tanked. in order to have a high value you need a LT-1 and C6 stuff. so in a few years when Chevy comes out with something better these cars will need to be redone.

the reason why those model T's, A's and other brass ere cars have tanked is they can't keep up with modern traffic and just unsafe on the road.

Procrastination Racing

Back in the '60s and early '70s, there were no resto mods because few were restoring 5 to 15 year old cars. They were just modded hot rods. With any '63 up, you already had the latest suspension. You just needed a newer and BIGGER engine, thus the LT1 powered Sting Rays and big blocks in anything. The gas crisis put a crunch on it, NCRS and Bloomington put a stigma on it, and Corvette Summer made "custom" such a bad word, no one could defend it.

But after the C4 had been out awhile, the suspension improvements made the old custom and old hot rods lacking for handling. It wasn't long until the C4 suspension was adapted to the older chassis and then whole new frames just for the C4.

Then the C5 and with it, the idea of the LS-1 engine. C4 suspension cars kind of phased out and dropped in price.

And after the C6 came out and the same thing happened.

So really, it isn't that "resto modding" is a new idea, it is just an extension of hot rodding the cars and keeping up with technology. And old tech in a Hot Rod is not all that financially desirable. After all, the point of hot rodding originally was to go faster and run better. As the years went along, that idea extended to include rides better and is more comfortable.

And while you can jump in a stock '63 Corvette, and head off down the highway at 70 or 80 mph on a trip (if you have the right gears in back), that is something you can't do with a Model T-* or a Model A in stock shape. Sure, a Model A will run 60 or so, but that will get you run over on an interstate. And at 60, you are really moving in that car, using all of it at that speed. The Corvette is using a much lower percentage of its potential, and thus more comfortable.

Same leap in technology in other cars, which is why a stock '60s car is more likely to be seen than a stock '40s or '50s cars. Most of the '70s cars have disappeared, probably due to lack of stock performance, rust, and overall undesirability.

ChattanoogaJSB

I completely appreciate original cars, but I see the supply of them being plenty for demand and generally every year more are completed- many times more than are "lost" to accidents and taken off the road.

Restomods- well built ones- are still few by comparison to restore originals or "stock style" drivers.

C2 Hot Cam Guy

Sorry thats rare ncrs changed to a restomod it happens i had a freind in Maple Shade New Jersey 30 years ago took a ncrs coupe & had split windows nicely put in . Wild things do happen but rarely . my 2 cents

Procrastination Racing

* - A friend of mine from the old Mississippi Valley Corvette Association was president of the St. Louis Model T Club in the '00s. For the anniversary of the Model T, a bunch of them drove them from St. Louis to Indianapolis. There were about a dozen of them, and they took a couple of trucks loaded with spares, trailered a couple of running cars on trailers, so if one broke, they'd drive the running one and tow the broken on.

They had to travel US 40 instead of I-70 because they ran so slow. They were marginal on speed on US 40. They could only travel in daylight because so many had either no lights or inadequate lights. Some were gas lights and they just didn't show anything.

The trip from St. Louis to Indianapolis is roughly 250 miles and slightly under 4 hours normally. It took them 3 or 4 days, I forget which he said.

This is much of the reason why the stock and original Model T cars are not high on the market. To own one is to limit where, when, and how far you drive. They are great parade cars. They are great around town cars. But it is far too much to have such limits on what should be your play car, since you can jump in your '69 Chevelle and drive from St. Louis to Indy in about 4 hours if you want. And drive back that night, too.

Loren Smith

If by original you mean restored to stock configuration, and not a survivor, the restoration still ages. No. 1 condition freshly restored cars become No. 2 cars over time with a drop (25% or more?) in value.

SBR

That's true if the car is driven or not stored properly. Try recouping your $$ in a ten year old resto mod. I guarantee that the loss will be more than 25% The well heeled buyers want the latest and greatest on their rides. At the end of the day, do it for your enjoyment, afterall this is a hobby.

Frankie the Fink

The facts state otherwise, I know of more than a few high end restomods that have been sold and resold over the years and still bring top dollar...at, near, or even exceeding their initial sales figure.

If well done, their values hold... This car was done several years ago (maybe 5 years back), IIRC I drove it once after it was freshly finished...and has had several owners. Jeff Beck being the latest.

Its obvious its value is plummeting..

mike coletta

I think that my 67 looks pretty SILLY!!! To each his own.

mike coletta

Car was built in 09. LS2, 6 speed, Corvette Correction chassis (C4). Still worth 135K or better. Maybe with the Jeff Beck attachment, a little more. I spoke with him last week, and he has no intentions of selling. I sold the car to Greg Wyatt, and he sold it to Beck.

mike coletta

Novice view. The market is VERY strong for these cars. TANKED is a really poor choice of words. Nothing is going to TANK!!! I am working on my last car. A 63 roadster, triple black, two tops, LS3, 5 speed, Corvette Correction chassis (C4). I sold it 3 weeks ago for 145K.
I've been DOING it for 17 years, and have done 30 cars. The market has accelerated. I can't build enough cars to meet the demand. I get at least 1 call each week, with someone wanting to build a car, or buy a car. Price has got to be right. The 4th car that I built (2007), just traded hands for $115. NO LS engine. ZZ4, with a 700R4. C4 suspension. I sold the car at the Mecum auction in Jan 2008. Here is the mecum promotional video.

Everybody gets to choose what they drive. I'M driving a restomod.

Mike Coletta

emccomas

I would venture to say that Mike C. knows this market as well as anyone, and probably better than most.

My observations in searching for a restomod match his.

The market is strong, even for older restomods. This assumes that they were done correctly.

mike coletta

Another "fake news" comment. I just gave an example in one of the posts above. There sure are a lot of unfounded comments in this thread. If you don't have facts, please don't make things up to support your opinion. It makes you look bad. Please understand, I don't give a rats behind what you drive, and I'm happy for you and your choice, just don't slam what I do, because YOU don't like it. As I said above, everyone gets to choose what they drive, and I'm driving a restomod. BTW, this car is going through the Louisville Mecum Auction tomorrow. I'm saying it bids to 250K, and is a no-sale (a customer of mine wants it, so I know that 250 is real money). I did not build this car.
https://www.mecum.com/lots/LS0917-29...tte-resto-mod/

Nowhere Man

Mike C what do you think the percentage is of well done resto mods that will demand a high re-sell value vs a thrown together resto mod that is not has nice is. Would it be is there are few builders of high end nice restomod cars. And more home grown cars. Not that there is anything wrong with home grown. But as we all know there is things people do that should never be done. Does also depend on location becouse I know there is none in my area.

SBR

I agree that car in Louisville will do very well, it's beautiful. That said, it's far from being an old build.

65GTO

Very interesting thread.

I enjoy my 'original-ish' type cars. They are relatively affordable, to the casual observer look fantastic, I get the horn beeps and thumbs up from people of all ages from 10 years old through 80 years old.

They also provide me with a sense of accomplishment after each project is completed, provide me a 'outlet' from the stresses of prof life when I just need the simple pleasure and mindless activity of block sanding something. This hobby does have something in it for everyone.

Surprising as it may seem, among the 15 or so hobby cars I have that cover every decade from 1930 - 1960, the one that gets the most cheers, thumbs up, people getting out of their cars at gas stations to come over (many times with kids smiling ear to ear), offers to buy it on almost every drive, everyone wants a picture of them with it, is my foolish little dune buggy. Somewhere between ratty and a decent driver quality.

I think there is always going to be a audience for our cars, until petrol becomes obsolete, or banned, or severely restricted in its use. Thus based on my real world observations, I am not very concerned that the greatest generation, Korean war, Vietnam generation will loose interest or die off and no one will want these in the end, objects of appreciation and desire of many.

I agree with one poster on this thread that 'if we wanted all the creature comforts of a new car from of our old cars, I would just by a new car.'. I in fact did.. bought a 370 Z rag top for weekend get away's when I wanted a fun driving, open air, no worry car. In the end, I hated it and sold it. I felt hermetically sealed in the thing even though it was a rag top. It totally lacked the visceral connections to sight, sound, wind in the hair, smells, and the personality that 'lack of contemporary precision' gives us in these old cars.

Back to the resto-mods... So there is a audience and a market in this hobby for all. Potential buyers just need to ensure that the 'buy into the hobby right'.

I can also say that at the very large local cruise night held atGillette Stadium (NE Patriots) every other week... not corvettes.. but the number of hot rods for sale is high.. with clearly a ton of $$$ and fabrication built into these works or art... but the for sale signs on them have been there all year, and many of the same for sale last year. So these owners are upside down on these cars for sure. My intuition tells me the resto-rod corvettes would have the same fate.

As with most projects in this hobby, if one is doing the work in large part themselves, as a passion, then the costs remain within getting your $$ back (or some loss).. .but we are doing it as a act of creativity and passion, and we accept that 'we are not in it for the $$$'. The hobbyists that just farm out all the work and write checks loose their shirts. I can see the parallels here with Corvette resto-mods and high $$ hot rods, where the owners involvement in the project was limited to writing checks. Those $75k - $90k hot rods, as beautiful and well executed as they are, have been sitting with For Sale signs on them a year or more. And the Pro-Mod look hot rods are telling how far they have come out of favor in terms of appeal (again... well executed, creative, but now just simply out of favor like all 'fashion' eventually becomes).

mike coletta

Keith,

I believe that about 50% of the restomods being built are "budget" builds to some extent. I don't think that anyone sets out to "throw a car together", but I do think that everyone doesn't have the budget to replace every piece of glass, new leather, new power plant, etc. These cars are not a bad thing, and certainly reflect the efforts and love of the builder, but will tend to fall into the "hod rod" or modified category for resale. Typically, (almost always), the buyer for a high end car is not a builder/tinkerer. Like anything, supply and demand will have some effect on price, but so does quality of work, and expense. I've seen cars built that were "half-baked" in all regards, and the builders were trying to catch a piece of the market, and sell them as high end restomods. It is my belief that well built, high end cars, regardless of latest technology will still command good or rising prices for the time being. We'll probably all be powered by electric in the next 20 or so years, and gasoline will go extinct, so it won't matter.

68hemi

What did the owner have in this car when built 9 years ago? Meaning initial car cost and all cost of the build? Regarding added value for celebrity ownership we can't use this regarding resale value of the car as apposed to initial cost weather it be a restomod or an NCRS car as it is not part of the original cost.

Many interesting comments in this thread and a lot of fact based examples of where the market is today.

I am a little unclear of the labels given these cars. To me a pro touring or what ever you want to call it cars and a restomod are the same thing???? Anyone care to tell me if there is a distinct difference?

IMHO, I think all facets of the hobby are a fade to some extent and will pass and sometimes with come back around again often 30-50 years later. We see it in clothing, home decorating etc. The exception to this would be original or restored to original cars that although cyclical in price will always have an audience mainly because there is a known standard these cars can be compared to, where as restomods, streetrods or any other kind of custom that are just that CUSTOM and have no standard to compare to. It has to find someone that LOVES it as much as the original owner did and built for THEIR taste. The tread with streetrods is that the older ones (meaning the ones that don't have the current, latest greatest tech) drop like a rock in value and find it hard to find a buyer in that crowd. They are quite fickled.

mike coletta

I was the owner. I had about 70K in it (no labor). Sold it to Greg Wyatt for 100K, and I THINK that Jeff Beck bought it for around 130K. I agree with the celeb ownership value (probably nothing).