[olds88]

I am having second thougts about restoration and wanted to get some opinions from Olds lovers. I bought the 56 olds 88 last year on ebay for $1650, odometer shows 37,000 and it runs and drives good. just recently I took it to a body shop (only one out of 5 in my town willing to work on it) and they say it can be done at $50 an hour and they will not give estimate on final price. They have done classics before and said some were as much as $12000. all depends on how much I wanted they say, like do I want door jambs and under trunk, etc. and what level of restoration I wanted, like daily driver or show car. I realize that I could probably never get my money out of it after spending that much, and it is a 4 door sedan basic model, no power steering or brakes, but does have a radio. I have already spent $850 on the front seat getting it to original fabric. other than that should I get out while I can or ? I haven't done anything to the motor or motor compartment or chrome. Maybe someone out there has been through this before and can offer some friendly advice. Thanks for listening. I'll post pic of other side too.

[rocketraider]

It boils down to, "Do you like the car?" If you do, go ahead and restore it. It looks fairly solid from the pics, and low miles with run and drive good is a plus. Probably the worst expense you'll have is chrome if the bumpers and brightwork need any attention.

What you do with this body shop is require them, by contract if necessary, to provide you a weekly report of hours spent on the car, exactly what work was performed during that week, and who did the work. You also need to spell out in writing exactly what you expect them to do.

I would remove as much trim as possible before it goes in, as even good shops are notorious for losing parts and their attaching parts, damaging hard2find brightwork, or putting things back together wrong.

If I had a 50s car that looked that solid, I wouldn't hesitate to start the restoration. You'll only make your money back if you go for a mainstream car and build it to suit the market instead of yourself, but that's compromising your own standards. Look at it this way- say you spend $12g on a full, high standard cosmetic restoration. Counting what you've already spent, you'll have less than $15,000 in the car which might sound like outrageous coin, but what decent new car can you buy for that money? And you'll have a stylish, practical car that can probably be driven and enjoyed anywhere, just like when the cars were new.

[RocketDude]

It looks like a nice straight car to start with. whether or not you should bail out ot not, is completely up to you. If you have plans to get anywhere close to getting your money out, stop today!
You don't do a car like this for profit, or even to break even. You do it because you like the car, and enjoy seeing an old car restored to it'd former glory. Being a four door doesn't help either. it obvisiously doesn't have the appeal of a two door. Some will say the four doors are beginning to gain popularity only because one day they has to be an end of the available two doors.
I am doing a 1951 Olds S-88 4-door. It's a nice staight 50K mile, one owner car, also purchased on ebay. I picked that car because it's like the one my father had when I was young. the first car I ever remember working on, before a 40+ year career as an auto tech.
It didn't take me long to discover it's a money pit, even though I do all of my own work. I love working on it, and I can afford it, so I just keep smiling, and keep going. People ask me how much money I have in is so far. I tell them I have all of the receipts, but I'm certainly not stupid enough to add them up!! I figure I have more money in chrome plating, that the entire car cost when it was new.
My body and interior are arrow straight, but it came from the snow country, so the chrome was poor, and there are a few rust holes in it. Not a lot of rust, compared to some i've seen, but enought to be a challenge.
I was able to do all of the mechanical work myself, even though I was shocked at the price of parts. I was used to picking up the phone and having parts on my counter in a hour, at a reasonable price. Now I spend as much time on ebay looking for old parts, and paying whatever price needed to get the stuff! I have had to learn great patience.
When I started on the body work, I couldn't find anyone to do the work in my area, so I signed up for an Auto body class at the local college. Not only am I learning body and paint, but I get full use of all of the shop facilities I had to give up when I retired. It wasn't long before I discovered if I was going to weld in patch panels on my car, I better lern how to weld. So now I'm enrolled in a welding class at the same college. I have been spending 15-20 hours a week in the welding lab, trying to perfect my skills, before starting on my car. that doesn't include the hours spend in the body shop class.
So, from a humble beginning, the car has completely taken over my life. If you don't love what your doing, you better find a new hobbie, because you have a long way to go.
If my chrome looked as good as yours, i wouldn't have had it redone right away. My advise is get it running, and safe and dependable first, then you can drive it and enjoy it while you do the little, one at a time. Winter is coming, lots of time for those extended tear downs.
Fifty dollars an hour for body work is the going rate. I sometimes wish I could find a quality shop to do some of my work. Most custom shops want far more than that. Remember, you don't have to do it all at once.
So if you want to continue with the project, plan on spending a lot more time and money than youplanned on, or want to, but fun is expensive. It will also keep you out of your wife's hair, that that is worth a lot!
Sell the car and take up golf, then you will discover what expensive really means..!!
Plenty of knowledgeable people here in the forum to get you through all of your tricky projects, and your down days. Good luck

[Retrorocket88]

Are you in Nevada?? I just bought a 56' and I am in Reno/Sparks. There is a Nice 56' in Reno for sale for 5k and is inpretty good shape. I can find out more about it if you'd like. Joe

[Retrorocket88]

The body looks to be in nice shape. The 2dr will bring in more $$ if you sell it. It all depends on if you like the car and want to spend the $$ to restore it.

[olds88]

Hi, thanks for your responses. Yes I really like the car and bought it because it was the same year as a car my dad had. I guess a lot of people buy old cars for similiar reasons. I enjoy driving it and the feeling of being in a car like that I just can't describe. No power steering but once it gets going it is not hard to steer. Can power steering be added and is it hard to do? I am inclined to go ahead with the restoration and appreciate your advice rocketraider about keeping track of hours and what they will do. The body shop did say they couldn't gurantee any finsh date because they would only work on it to fill in idle time, and the fact that it runs is plus for them because they can at least move it around. One thing that keeps motivating me to go ahead with it is the idea that I can contribute to saving a car and a part of history. And the longer I keep it and more I do to it the more I am attached to it. Good to know that $50 and hour is not such a bad rate for someone who knows what they are doing. The owner of the shop said he would do it right and told me stories of cars he had seen come in that were full of bondo and were going to have so many problems in the future.
I appreicate all your comments. I am finding out that people who like old cars are some of the best people around.

[olds88]

Yes I am in Nevada, Elko. Tell me more about the 56 that you know of. Because one of my thoughts was that I could buy one that either needed less work or was looking pretty good without a lot more expense, etc. thanks

[Retrorocket88]

Here you go, http://reno.craigslist.org/car/193383274.html