An Example Of Restoration Costs

[jg61hawk]

I tried to cut and paste a table I have been creating since 2003 pertaining to the restoration of a driving 1961 Hawk. Often people ask on this forum "What does it cost to restore a FREE car?" The table did not paste exactly as I wanted but you'll get the idea. Note the motor and trans and steering were all OK. It is cheaper to buy one than to restore one.
STUDEBAKER RESTORATION

BEGAN JULY 2003

DATE DESCRIPTION OF PURCHASE COST YEAR TO DATE

7-1-03 PRE-RESTORATION ITEMS:FIN STRIPES 200, L/F FENDER 900,SPRINGS 1300, RADIATOR 40 2800.00
7-24-03 JM HEIPLE FENDER AND AIR DUCT 525.00 3325.00
7-28-03 CLASSIC ENTERPRISES 2345.00 5670.00
7-28-03 JM HEIPLE REAR FENDERS N.G. 650.00 6320.00
8-18-03 POR SUPPLIES 186.75 6506.75
8-21-03 STUDEBAKER INTERNATIONAL BODY PADS 77.90 6584.65
8-22-03 SEMCOR 90.10 200.00 6874.75
8-27-03 NORWOODS BOLTS 12.14 6886.89
9-9-03 POR SUPPLIES 120.25 7007.14
9-30-03 STUDEBAKER INTERNATIONAL HINGES 134.95 7142.09
10-02-03 STEPHEN ALLEN STUDIE HINGES 125.00 7267.09
10-15-03 EASTWOOD SANDBLASTER EQUIP. 84.98 7352.07
10-20-03 STUDEBAKER INTERNATIONAL DOOR STRIKERS, BODY PADS, HOUSING HEATER CORE 131.75 7483.82
10-21-03 SEMCOR SANDBLAST 9.40 7493.22
11-17-03 POR SUPPLIES 100.25 7593.47
1-13-04 DUNPHEY SMITH SHEET METAL 177.67 7771.14
4-19-04 CLASSIC ENTERPRISES 385.00 8156.14
7-1-04 JACK FROM JACK LENTZ 200.00 8356.14
7-1-04 NORWOODS ENGINE HOIST 477.00 8833.14
9-01-04 NORWOOD PAINT REMOVER 23.95 8857.09
9-1-04 PAINT REMOVER 34.82 8891.91
9-15-04 CONRAD LENS FOR HOOD 39.70 8831.61
10-09-04 SEMCOR SANDBLAST 157.25
393.90 9482.76
10-12-04 NORWOOD WAX GREASE REMOVER 9.21 9491.97
10-13-04 SEMCOR SANDBLAST 265.00 9756.97
10-21-04 POR SUPPLIES 73.75 9830.72
3-8-05 NORWOOD CUTTING TOOLS 15.86 9846.58
3-10-05 STUDEBAKER INTERNATIONAL FENDER RUBBER SEALS BETWEEN BODY 39.85 9886.43
5-5-05 INDIANA CAR MEET NEW REAR
FENDER, 2 USED REAR FENDERS 530.00 10,416.43
5-9-05 POR SUPPLIES 175.25 10,591.68
5-18-05 POR SUPPLIES 93.50 10,685.18
5-23-05 POR SUPPLIES 116.50 10,801.68
6-11-05 SEMCOR SANDBLAST 76.43 10,878.11
6-11-05 SEMCOR SANDBLAST 148.41 11,026.52
6-12-05 TWP. HARDWARE SAW HORSES 32.51 11,059.03
6-17-05 POR SUPPLIES 66.75 11,125.78
6-20-05 POR SUPPLIES 171.70 11,297.48
6-25-05 NORWOOD SUPPLIES 4.40 11,301.88
6-29-05 POR SUPPLIES 112.75 11,414.63
7-25-05 POR SUPPLIES 121.00 11,535.63
7-26-05 POR SUPPLIES 60.50 11,596.13
8-10-05 POR SUPPLIES 67.25 11,663.38
8-17-05 POR SUPPLIES 137.00 11,800.38
8-27-05 TWP. HARDWARE BOLTS ETC. 25.44 11,825.82
9-03-05 SEMCOR SANDBLAST 190.57 12,016.39
10-12-05 STUDEBAKER INTERNATIONAL
CHASSIS MANUAL 45.70 12,062.09
10-21-05 POR SUPLLIES 154.00 12,216.09
11-12-05 SEMCOR SANDBLAST 59.52
189.90 12,465.51
12-19-05 STUDEBAKER INTERNATIONAL:
SHOCKS 131.25 12,596.76
1-9-06 POR SUPLLIES 99.85 12,696.61
1-9-06 ARC AUTOBODY 2000.00 14,696.61
1-17-06 TWO NEW MEXICO DOORS (WRONG DATE) 434.86 15,131.47
1-17-06 STUDEBAKER INTERNATIONAL : RUBBER AND HOOD INSULATOR, AND HOOD SPRINGS 595.05 15,726.52
1-17-06 VARIOUS SPARE DOORS (WRONG DATE) 200.00 15,926.52
1-19-06 SEMCOR BLACK BEAUTY 58.30 15,984.82
1-19-06 NORWOODS AIR COUPLERS 42.00 16,026.82
1-23-06 STUDEBAKER INTERNATIONAL : SCREWS AND CLIPS 107.10 16,133.92
1-25-06 TWP. HARDWARE PAINT SUPPLIES: TAPE AND DROP CLOTH 15.97 16,149.89
1-26-06 NORWOOD BOLTS / CLIPS 10.55 16,160.44
1-26-06 STUDEBAKER INTERNATIONAL : NAIL SCREWS 6.00 16,166.44
1-28-06 HOME DEPOT SAW HORSES 58.29 16,224.73
1-30-06 ARC AUTOBODY 2700.00 18,924.73
2-8-06 ARC AUTOBODY 1840.00 20,764.73
2-8-06 PHANTOM INTERIOR 1310.00 22,074.73
2-9-06 NORWOODS RUBBING COMPOUND 63.75 22,138.48
2-14-06 STUDEBAKER INTERNATIONAL SEALS ETC. 29.00 22,167.48
3-28-06 STUDEBAKER INTERNATIONAL ANOTHER WINDOW CHANNEL AND CLIPS 44.95 22,212.43
3-29-06 SASCO WIPER MOTOR 152.27 22,364.70
3-31-06 B&B GAS TANK RENEW 450.00 22,814.47
3-31-06 STUDEBAKER INTERNATIONAL FUEL HOSE, SENDING UNIT, WIPER GASKET 108.55 22,923.25
3-31-06 STUDEBAKER INTERNATIONAL MISC. 189.60 23,112.85
4-24-06 STUDEBAKER INTERNATIONAL WATER VALVE AND MOTOR / TRANS. MOUNTS 196.15 23,309.00
5-4-06 STUDEBAKER INTERNATIONAL GROMMETS AND GASKETS 86.80 23,395.80
5-4-06 NORWOODS OIL AND FILTER 27.90 23,423.70
5-11-06 STUDEBAKER INTERNATIONAL SEALS AND SILL PLATES 172.05 23,595.75
5-12-06 DICK’S AUTO ELECTRIC STARTER REBUILD 37.10 23,632.85
5-12-06 R&S TRANS FLUID, AND CLAMPS 13.31 23,646.16
5-18-06 NORWOOD BELTS AND ANTI-FREEZE 48.43 23,694.59
5-20-06 R &S HEADLIGHT BULBS 29.66 23724.25
5-22-06 HOME DEPOT GROMMETS 10.04 23734.29
5-24-06 STEPHEN ALLEN KICK PANEL RETAINER 36.00 23770.29
5-24-06 STUDEBAKER INTERNATIONAL BOLTS MOLDING KIT, CLIPS 406.95 24,177.24
5-26-06 TWP. HARDWARE PAINT GLOVES SANDPAPER 10.44 24,187.68
5-26-06 TWP. HARDWARE 10.77 24,198.45
5-31-06 TWP. HARDWARE 7.62 24,206.07
6-1-06 TWP. HARDWARE 15.96 24,222.03
6-9-06 STUDEBAKER INTERNATIONAL DUCT, VENT SEAL KIT, GLUE 80.60 24,302.63
7-16-06 R &S LUCAS POWER STEERING SEALER 20.00 24,322.63
7-20-06 MIDAS MUFFLER 728.00 25,050.63
8-3-06 PHANTOM INTERIOR HEADLINER ETC. 311.00 25,361.63
9-20-06 MYER’S STUDEBAKER VENT SCREEN 30.25 25,391.88
10-24-06 MYER’S STUDEBAKER VENT SCREEN 15.75 25,407.63
10-25-06 ACE INTERIOR INSTALL HEADLINER AND WIND LACE AND TRANS COVER 300.00 25,707.63
10-25-06 ARC AUTO BODY DENT IN FENDER 750.00 26,457.63
3-3-07 SOLD PARTS (NEGATIVE FROM TOTAL) (350.00) 26,107.63
3-3-07 TAILFIN COVERS (YORK) 275.00 26,382.63
3-3-07 HEATER MOTOR (YORK) 30.00 26,412.63
3-3-07 OWNER’S MANUAL (YORK) 10.00 26,422.63
3-14-07 STUDEBAKER INTERNATIONAL FIN MOLDING, MIRROR GASKET, HORN LENS 151.10 26,573.73
5-1-07 STUDEBAKER INTERNATIONAL HEATER DUCT, WIPERS, EXHAUST EXTENSIONS 233.15 26,806.88
11-10-07 GREEN’S PERFORMANCE CENTER RESTORE CARBURETOR 385.00 27,191.88
11-30-07 GREEN’S PERFORMANCE CENTER INSTALL CARBURETOR AND SET UP TIMING 133.75 27,325.63
1-18-08 STUDEBAKER INTERNATIONAL STABILIZER BAR PARTS, AND POWER STEERING SEAL 86.95 27,412.58
1-19-08 DAVE THIBEAULT FUEL PUMP 88.00 27,500.58
4-16-08 STUDEBAKER INTERNATIONAL RADIATOR BAFFLE AND JACK RETAINER 42.15 27,542.73
4-24-08 STUDEBAKER INTERNATIONAL HOOD PROP CLIP 6.00 27,548.73
4-26-08 NORWOODS WAX / GREASE REMOVER 12.34 27,561.07
4-26-08 TOWNSHIP HARDWARE PAINT SUPPLIES 7.25 27,568.32
5-5-08 STUDEBAKER INTERNATIONAL SOLENOID AND WATER PUMP 108.50 27,676.82
8-9-08 LIONEL STONE AIR CLEANER HOUSING 142.74 27,819.56
9-18-08 STUDE. INTERNATIONAL MEET ROOF DRIP TRIM 100.00 27,919.56
10-7-08 GREEN’S PERFORMANCE CENTER INSTALL FUEL AND WATER PUMPS 256.80 28,176.36
10-20-08 STUDEBAKER INTERNATIONAL TUNE UP KIT AND LICENSE PLATE BRACKET 191.80 28,368.16
2-25-09 STUDEBAKER INTERNATIONAL WHEEL SEALS 20.80 28,388.96
4-21-09 STUDEBAKER INTERNATIONAL BRAKE PARTS 381.60 28,770.56

4-28-09 TOM K. SOUTH BEND BRAKE HUB –REAR 50.00 28,820.56

9-21-09 STUDEBAKER INTERNATIONAL EMBLEM AND NEW EXHAUST TIPS (JACK-ACCIDENT)
199.55
29,020.11



1-15-10 PHANTOM AUTO WORKS SEATS, ARMRESTS, AND TRUNK DIVIDER
2,125.00
31,145.11
4-15-10 STUDEBAKER INTERNATIONAL SEAT HINGE COVERS
148.90
31,294.01
4-23-10 FINISHING TOUCH CHROME BUMPER GUARDS
756.00
32,050.01
5-28-10 FINISHING TOUCH CHROME FRONT AND REAR BUMPERS
2,799.92
34,849.93
9-7-10 STUDEBAKER INTERNATIONAL TWIN ANTENNA KIT
223.90
35,073.83
9-25-10 N.O.S. GRILL AT STUDE MEET 80.00 35,153.83
1-14-11 FORRESTER’S CHROME – FRONT SIDE GRILL SURROUND AND HEADLIGHT RIMS
559.00
35,712.83
3-15-11 SNYDER’S STUDEBAKER CHROME SIDE GRILL
237.00
35,949.83
5-31-11 STUDEBAKER INTERNATIONAL BRAKE HOSES AND MIRROR HEAD
160.50
36,110.33
6-9-11 GREEN’S INSTALL BRAKE HOSES AND SET UP TIMING
525.91
36,636.24
6-20-11 STUDEBAKER INTERNATIONAL BRAKE DRUMS AND DOOR HANDLE
489.10
37,125.34
7-2-11 TOM K. SOUTH BEND BRAKE HUB – REAR 41.00 37,166.34

[kmul221]

I learned to by one done ! It's cheaper & a lot less agrivation.There are two 61 Hawks on Ebay that look decent & are about $20k less than you have spent so far.I have a 63 GT that I have $14k into & I done a fair amount of the work myself.I would do well to break even if I sold it.Being in the hobby can be fun but digging ones-self into a finacial hole is plain foolish.You will have a lovely car when done as a concilation,so keep it and enjoy it.

[kmac530]

You can not build a classic or vintage car for a profit normally. If you love a particular car and want one, buy it OR build it yourself so you can have the joy and pride of saying "I built this"....but you have to do it because it is what YOU want, not to sell it for profit. A car is only worth what someone will pay for it, OR how bad you want it.

[mbstude]

Yes, but... You have a beautiful car!

Brad Johnson photo.

[garyash]

It used to be that a marriage license only cost $2. Moral: don't keep track of the costs for marriage or car restoration - and never show the restoration bills to your wife!

[jclary]

One thing that helped for a CASO like me was being resourceful and being in the right place at the right time. People would be shocked at how little I have in some fairly nice cars. I bought them right, and did about ninety percent of the work myself. When I was about 5 years old, my mother told me I could do about anything as long as I would learn to read and follow instructions.

Selling industrial supply, air tools, spray booths, finishing systems, etc. gave me insight and opportunity I would not otherwise be exposed to. If a customer was shutting down a production line and selling off tooling, I would buy tools at penny's on the dollar. I did much of my bodywork in my back yard. When it came time to paint, I traded services like repairing spray equipment for the use of a customer's spray booth. While demonstrating electrostatic equipment at a NASCAR teams shop, they gave me hundreds of dollars of free DuPont paint to use on my project.

I had an upholstery shop that was (at the time) one of the premier antique car restoration shops in the nation for vintage classics. They often did Pebble Beach quality cars. They used several obsolete Binks spray guns for their contact adhesive applications and were needing parts that other suppliers said were no longer available. I not only found the parts for them, but repaired the guns for them. I also went in after hours and properly re-plumbed their compressed air system to function properly. For that work, they upholstered two of my cars for me.

When I needed some body panels welded in, I got quotes from some body shops. After seeing the quality of their work, I bought my own welder and an instruction book. I am sure it took me longer, but it kept me out of trouble and saved me a ton of money. Now I am retired, the old upholstery shop workers have passed away, most of my old industrial customers are out of business and I have lost my contacts. These days, I do more "thinking" about projects than doing them.

All I need now is to figure out what to do with all these tools and left over parts!

[studebaker-R2-4-me]

I have not restored my Hawk, but it's pretty nice with the garage rash and all. I've keep every bill that I have spent on the car. I've never added it up,...too afraid too for the above reason. I have always maintained that my Hawk is cheaper than my ex-wife, never negative, never condescending and one hell of a lot more fun, so why bother to add it up.

Allen

[Bob54]

I must admit, if I had know the expense of putting my Mom and Dad's '54 where Dad would have liked it, I would never have started the process. What started out as an act of love, turned into a financial nightmare. I have leaned a great lesson, though. Certainly would enjoy writing a book about the entire experience.

[JBOYLE]

When I got my Avanti I started a spreadsheet to keep track.
About halfway through I quit.
Why?
If my wife sees it, I'm done.
I have enough reasons for being depressed without seeing them on a computer.

[woodysrods]

I too am restoring a 61 Hawk for my wife Sandi. When I started with what was a relatively good car at a cheap purchase price, I knew roughly what it was going to cost and knew then that I could and should have purchased a finished car for her. As I restore cars for a living, with the rule that you NEVER build cars on spec, or you willl go broke!
But, I am enjoying the build and I know what she will have when we are finished.
We do plan on keeping thre car and putting a ton of miles on it, so that helps to justify the cost.
Note: I spent over a $1000.00 on the car yesturday!
Good Roads
Brian

[Bob Andrews]

It is cheaper to buy one than to restore one.

No doubt about it. But as a practical matter, it can be risky to buy one finished, since it's very difficult to see what the work under that shiny paint is really like. If you build it you not only get exactly what you want, you know what was ans wasn't done.

Of course, if you can't/wont do your own work, your chioces are limited.

[karterfred88]

Or you could look at it like me. What brand new car can I buy for what I'm spending?? For instance, what 2 door sporty rear wheel drive coupe could I buy that will turn heads and I would enjoy driving for my investment--without having a car payment left over. For you, an under $40K car might be a new pony car-would that satisfy you as much as your Hawk? Probably not. For, me an equivalent to my "in progress" Avanti ,it would take a Cad CTS-V coupe--not in my future at $68K !! Looking at it that way, after the car is restored to "as new" condition it makes sense to do what we do. After all, that $68K Cad won't be worth more than $30K in five years, but my Avanti will still be worth a "fortune" to me.

[warrlaw1]

Oh ya, I spent $50,000 on a car that appraised in at $30,000...and it's still a driver. Only way to get my investment back is to enjoy it, and I certainly do. Like Allen's R2 Hawk, it gets driven and gets a few marks. In my business I know the cost of an ex-wife and Allen is right on about that, too. Regrets? Some of the work I paid for had to be redone. I found out a few friends were not really friends. Then, again, I found SDC and the new friends more than make up for it. Cheers!

[new2drive]

There is also another factor.... funding. In the long run, a restoration project will cost many times over what buying a complete car outright would, but as fate would have it.... I cannot afford to drop 30-20-10 or even $5k on a car in working order. I have to really work to get the cash together... For me, it is a labor or love and it will take a while to even get my 40 running... I am finding I can swallow small costs in small bites... even though I know the end bill will be more than the vehicle is worth.

I have to be honest though... I never was a motor head.... and at 41 now... birthday was Tuesday... I am quickly finding that I love what I am doing.... with help of course, but I will be able to say "I did this". And I am finding the work very rewarding as I am learning somehting everytime I work on the car. I am also VERY fortunate because I did get one of the cars I wanted. I love suicide doors and the 40 commander is really a beauty body wise to me. If I could, I would have had a 39 commander as I really love the headlight that are outside the wheel wells... beggars can't be choosers and my number 2 car is the 40 because it, to me, represents the pinnacle of Studebaker manufacturing before the war.

Back on topic... labor of love. The input will never equal the output except in joy, where it will be manyfold more. Also, many small costs is still more doable if you are on a tight budget... even though you pay more in the long haul.

[RadioRoy]

There is yet another factor to consider. Many "restored" cars that look good are only restored cosmetically. mechanically they may be quite iffy or even downright poor. I've been playing with Studebakers since 1972. I always buy the ratty ones that are not messed with. neglect is easier to fix than someone else's tinkering.

Some years ago I bought a car that looked good. The paint was new, the top was new, the upholstery was recent. But mechanically it was a mess. I've got a lot of work into that car. It still looks fairly good, but it was a lot more work than it looked like.

If you buy a "restored" car. it makes sense to understand the workmanship quality, and know what was done and by whom.