911 Dilemma, WTF |
|
Porsche, and the Porsche crest are registered trademarks of Dr. Ing. h.c. F. Porsche AG.
This site is not affiliated with Porsche in any way. Its only purpose is to provide an online forum for car enthusiasts. All other trademarks are property of their respective owners. |
|
911 Dilemma, WTF |
euro911 |
Jul 15 2014, 10:12 PM
Post
#1
|
Retired & living the dream. God help me if I wake up! Group: Members Posts: 8,849 Joined: 2-December 06 From: So.Cal. & No.AZ (USA) Member No.: 7,300 Region Association: Southern California |
I recently posted on a thread about 1964 911s on the Pelican site. A few days ago, a guy PM'd me from the Bird, asking about my '64 911. Technically it would be a M-Y 1965 if sold in the US at that time, but is considered a 1964 (ROW), as it is one of the unique 232 'first year cars' that were made and sold (in 1964). It is also currently registered as a 1964 with the CA DMV.
The guy has been a established member on Pelican since 2006, and is local in the Los Angeles area. I kind of know who he is, although we'e never met or conversed previously. There are pix in my 'Garage' on the Bird, so he's seen the car, although we all know that pix don't tell all ... His PM starts off with "What a great 64 911... What are your plans with it? Are you going to restore it? Would you consider an offer to sell it? I look forward to hearing from you." I told him that I do have plans to restore it, but if I were to think about selling it, an offer would have to be in excess of $150K. He responds with "Thank you for getting back to me. I am still interested in your 64. Is is a numbers matching engine? Does the engine still turn over?" I replied and provided him with a lot of info about the car, it's originality (matching engine and transaxle, etc.), current condition (roller with drive train removed), and all the repairs that the car needs to be a completely restored specimen. I didn't hold back any negative info regarding rust repairs (front suspension pan, and other sections of the structure/body), and informed him that I possess a full set of floor pans, suspension pan, inner and outer rocker repair panels, etc. Over the past several years, I've also collected a lot of the rubber parts needed. He responded again with "Great response. I look forward to talking with you. I am very excited to hear that it is original numbers matching. That is important to me. You can reach me anytime at ###.###.####. I look forward to hearing from you and hope we can do a deal." My wife thinks I should think seriously about it (well, duh) ... I haven't priced all the repair work yet, but the metal work, paint and the upholstery would all be done by 'professional' shops ... I can do the mechanical work (drive train), and have shot from the hip that $50K~$75K would be my total investment into the project (dollar-wise), not including my time. Restored examples have recently sold in the $250K~$300K range on the world-wide market, and appear to continue upward as time marches on. So I do have a dilemma on my hands. Should I continue on my restoration path, or should I consider selling the project if we can reach an agreement for a cash deal at the price I have in mind (IMG:style_emoticons/default/idea.gif) Anybody think I'm nuts if I sell it now ... or want to talk me out of it? (IMG:style_emoticons/default/confused24.gif) (IMG:style_emoticons/default/popcorn[1].gif) |
orthobiz |
Jul 19 2014, 06:53 AM
Post
#2
|
Senior Member Group: Members Posts: 1,754 Joined: 8-January 07 From: Cadillac, Michigan Member No.: 7,438 Region Association: Upper MidWest |
Insurance and potential hassle of ownership of a true classic was mentioned in an earlier post.
As a side note, I caught up with John Paterek last year, he had sold his Porsche America for a princely sum. I saw it a few times in the 80's when I lived out east, what an amazing vehicle. He paid less than 20K, which was a boatload of money back then. But part of selling was he was the worry associated with the classic. He originally stored it in a rust-free purpose-built hole under his house but as values rose he had to insure it, stored it elsewhere and he became worried about theft and damage. Then he drove it to Hershey and an unaware SUV cut him off accidentally. No, he didn't get into an accident, but he reluctantly sold after that. He realized he could no longer enjoy it. Paid off the house, kids college, bought a 356 and had some left over. Paul |
naro914 |
Jul 22 2014, 07:16 AM
Post
#3
|
Losing my mind... Group: Members Posts: 2,476 Joined: 26-May 06 From: Charlotte, NC Member No.: 6,073 Region Association: South East States |
Insurance and potential hassle of ownership of a true classic was mentioned in an earlier post. As a side note, I caught up with John Paterek last year, he had sold his Porsche America for a princely sum. I saw it a few times in the 80's when I lived out east, what an amazing vehicle. He paid less than 20K, which was a boatload of money back then. But part of selling was he was the worry associated with the classic. He originally stored it in a rust-free purpose-built hole under his house but as values rose he had to insure it, stored it elsewhere and he became worried about theft and damage. Then he drove it to Hershey and an unaware SUV cut him off accidentally. No, he didn't get into an accident, but he reluctantly sold after that. He realized he could no longer enjoy it. Paid off the house, kids college, bought a 356 and had some left over. Paul I knew Paterek's when we lived in NJ and remember that car, it was his pride and joy...but eventually the 'joy' started turning into a bit of 'fear' for exactly what you said. At one point I think he turned down an offer from the factory. Not sure who he eventually sold it to, but he actually had the look of relief next time I saw him. They bought a 'driver' 356 that they could enjoy and not worry about as much. Sure, if you're a Leno, Seinfeld, Ingram, Canepa, etc and have the facilities and resources to store and protect such a car, that's great. But some of us mear mortals typically can't expend those resources just for one car...then again, maybe I'm wrong?? Good luck with whatever your decision!! |
Lo-Fi Version | Time is now: 16th May 2024 - 10:06 PM |
All rights reserved 914World.com © since 2002 |
914World.com is the fastest growing online 914 community! We have it all, classifieds, events, forums, vendors, parts, autocross, racing, technical articles, events calendar, newsletter, restoration, gallery, archives, history and more for your Porsche 914 ... |