Wife giving me a hard time about the money

[2savage]

I'm coming towards the end of my car restoration (1973 Coupe) and my wife is annoyed when she hears the numbers.  At close to 30k gbp for the project, she's looking at comparable other sales but the prices are all over the place.

This has been a bare metal, engine out full restoration with new 'everything' and with remaining P5B Coupe car numbers in the low 100's seems to me a reasonable price.

With a bare metal resto to a high quality,  am I able to keep the wife happy with the numbers??

[Mike’S-a-loon]

Nope. Forget it.

Owning and restoring almost any classic car is not a money making exercise. It is about the joy and pleasure gained in knowing you have returned something that may have been lost to the world.

The time, love and money poured into it will never be returned in a calculable way, much like raising a child.

If she's not happy about your hobby and expects the costs to be recoverable, then the child analogy may be helpful...

Good luck! Your wife will always be more important than your car, but finding a way to keep both is a worthwhile pursuit!

[Eric R]

no chance - family or car.

[lagain]

If you watch Bangers and Cash on Yesterday you will be familiar with Derek Mathewson and one of his favourite quotes, you don't do it to make money you do it for love.
If the restoration has been done well you could get your money back. Lister Classics have a P5b at £55495, but it is not worth anything like that, the wipers are not parked properly and there does not seem to be a coach line, for top money the car has to be right.
Near me at Wisborough Green are MilestoneClassics and they recently had a P5b that had been owned by a club member for nearly 50 years, it had done nearly 300,000 miles and had been restored some years ago, it was up for £29,995 and they sold it within weeks.

[djm16]

For comparison, total up the amount you would have spent over 20 years if you were a smoker or you went to the pub every night. I would stay away from the amount she has spent on "beauty" products though!

[Eric R]

or as the boys say in the opening - there's Derek's lay and there's Derek's lay. So much for his former wife of many years.

[MK IA Norway Viking]

You can have you rmoney back and something on top aka profit if you disregard the value of the hours you have put into the project yourself.

There are three requirements you must meet;

1. Find the right buyer. This will be one who's been searching for a mint specimen for a while.

2. Document the car's potential - simplest way is to get a concours-certificate/score

3. Take time to polish up the car to 100%, either at a detailers "studio" or by yourself with machine-polishing tools and the right "make-up" to build theat deep shine/gloss.

As you correctly say, the P5B is now a rarity and so values for good examples rise comparably faster - that we have soaring inflation will help in getting the money back ...

[2savage]

Thanks for all the information.    I'm not looking to make a profit, but to justify the expense.  This has been a bare metal restoration and will result in a concourse level vehicle with professionally restored interior, wood, leather and many thousands in new parts.  My total expense is in the vicinity of 30,000 gbp including buying the car.  I don't think I'm too far 'upside down' with the value but since I'll own it until I'm barely capable of fogging a mirror the numbers really do not matter.

In my opinion when my wife and I take our first road trip (probably the NC500) she will understand why I did this.  Money is just a number and when you die you can't take it with you.

Why the P5B coupe?  Well, I'll be travelling with friends so need four doors and a decent size boot.  And let's face it, the car looks superb!!  I went with burgundy and the silver birch roof, grey carpet and it has red leather interior.

[lagain]

Sounds as if the car will look amazing, but I certainly would not take it on the NC500, of the 500 mile route about 200 miles are single track with passing places and a favourite route for camper vans, they go along nose to tail - it's ridiculous !
I go to Scotland most years in my lovely coupe and I have a friend who lives in Durness, I have been a couple of times in the Rover, but from Lairg to Durness it is mainly single track road for nearly two hours, by the time I get there I am a nervous wreck.
The NC500 is best on a motorbike.

I would head for the Cairngorms, there is an interesting car museum at Alford and then the castle trail through Aberdeenshire, Pitmedden Garden and amazing scenery over the Lecht.

[2savage]

Well, I've toured Scotland  a lot and highly recommend Mull and Skye.  Morvern is a cool remote area too and Oban has the best fish and chips!

[MK IA Norway Viking]

Oban is home to a very distinguished single malt too, offering a splendid opportunity to refill the crystal carafe that rear-seat passengers get to enjoy ...

[2savage]

Agreed.  My wife and I were in a fancy restaurant last night and she ordered the 14 year old Oban for 'dessert'.  Only $38 a glass!!!!

[2savage]

Well, it turns out that it's not really the Rover that's the problem; it's some boats I have.  Apparently I have too many 'toys'.  And yes, I agree but I'm trying to sell them.  My dad said "anyone can buy something but few people can sell them".  How true.

So, toys for sale:  2004 Mercedes SL 500 and a 50 foot ocean capable steel trawler style yacht with a range of 5,500 miles.  Anyone?  Please? 

[Sam Bee]

If it is as good as you say then I would expect 40K even 50K, given you find the right buyer. Do not whatever you go on auction figures or auction it, complete lottery with some rediculously low outcomes. Best way is to get a Club valuation, which will be for replacement value but will give you a good indication from an expert in this make of car.

Sam -Valuations Officer.