Peerless restoration project for sale

[jbohan]

1925 Peerless Model 6070 4 Door Touring Car

[Guest BJM]

Thank you for pointing that one out. That guys website is always a hoot. Way Way overpriced cars.

[jeff_a]

Bryan,

Hadn't looked at the site for awhile, but thought I'd look at the other cars besides this Peerless to see if there was anything interesting. There were a couple that looked a little high and a couple that didn't seem that bad. I'm curious as to your opinion:

'17 Ford Model T Touring, runs, has tires [$35K].........unrestored

'32 Lincoln V-8 [$40K].........unrestored

'32 Packard 903 Coupe[$75K]..........was a straight 8, it's gone, but they have a Packard V-12 to put in(?)....looks one or two hundred thousand dollars away from done

'35 H-D w/ sidecar [$45K]........looks restored, but a little pricey

'37 Lincoln-Zephyr "Pickup" [$4K]..........project w/ no bed, no motor, no headlights

'22 Lincoln 12-Pass. Bus [$12K]........really neat, if in poor condition, looks like an 80-yr-old+ conversion

'29 Chrysler Coupe [$5.5K]..........pretty good shape, really, has a six

'40 LaSalle Convertible Sedan [$12K].........I love it when sellers actually describe these correctly as LaSalles instead of "LaSalle Cadillacs"!

----Jeff

Edited April 23, 2010 by jeff_a (see edit history)

[jeff_a]

jbohan,

If we were to go by the Standard Catalog, Vol I price guides, this car as a Condition# 5 car would be worth $4,700 and as a Best-of-Show-level Condition#1 would be worth $33,000.

Obviously, the vehicle needs a lot of work. However, in my opinion, this Peerless should be worth more than $33,000 if taken to the No 1 level: a Peerless is four times as rare as a Pierce-Arrow [not to mention 16 times as rare as a Packard] and this is an extremely rare model of Peerless. There just aren't a lot of Peerlesses around. As I said somewhere else on this Forum -- if I had six Peerlesses, I would have the largest collection in the world.

I've actually seen this Peerless four times and think it's pretty interesting. It's the first one I ever saw.

Edited October 13, 2010 by jeff_a
Sometimes good writing is really just good editing. (see edit history)

[Guest BJM]

Bryan,

Hadn't looked at the site for awhile, but thought I'd look at the other cars besides this Peerless to see if there was anything interesting. There were a couple that looked a little high and a couple that didn't seem that bad. I'm curious as to your opinion:

'17 Ford Model T Touring, runs, has tires [$35K].........unrestored

'32 Lincoln V-8 [$40K].........unrestored

'32 Packard 903 Coupe[$75K]..........was a straight 8, it's gone, but they have a Packard V-12 to put in(?)....looks a couple of hundred thousand dollars away from done

'35 H-D w/ sidecar [$45K]........looks restored, but a little pricey

'37 Lincoln-Zephyr "Pickup" [$4K]..........project w/ no bed, no motor, no headlights

'22 Lincoln 12-Pass. Bus [$12K]........really neat, if in poor condition, looks like an 80-yr-old+ conversion

'29 Chrysler Coupe [$5.5K]..........pretty good shape, really, has a six

'40 LaSalle Convertible Sedan [$12K].........I love it when sellers actually describe these correctly as LaSalles instead of "LaSalle Cadillacs"!

----Jeff

Sorry Jeff. I obviously have not been active on the forum lately. My bad. Since the sale prices are outrageous I find it hard to comment. If a car is an CCCA full classic, and is complete - then price can have some merit but otherwise the most a project is worth to me is about $2000.

Virtually all of these will never be sold. When the principal retires, gets out or whatever, they might be lost or handed over to another dealer.

The Model T is way overpriced. Restored Model T's can be had for $10,000 or less. Just go to Model T Haven for examples of project prices. It's a reducing market place for T's.

As I have noted before on the Peerless, I believe, and I could be wrong - that there is only ONE buyer out there for the 24/25 Peerless Touring - ME! and we are $1,000 apart on offer and requested price so it's not going anywhere.

[jeff_a]

Bryan,

I agree with you that the price on the Model T is high. The first group of cars I listed were ones that seemed kind of "out there". The second group is a little more reasonably-priced, in my opinion. I think places like this do a service when they bring in these old relics from out of the cow pastures to somewhere you can look at them. In a way, there's a never-ending supply of abandoned cars like this. As time goes by, though, there will be be fewer of the really old cars.

Good luck with your continued negotiations to get the 6-70, if there are any. It's too bad it's so far from you. I realize that car dealers like to start high and then work down on the price, but the asking price of $4,500 is double the new price of the car ($2,285 x 2 = $4570).

By the way, I think the description of the car is pretty accurate in the link on the 1st post, except that part about some rust in the floor. I don't think 1924 Peerlesses had any metal floor pans to rust -- this one had a wood floor with some aluminum edging strips, most of it gone except under the dash.

P.S.: In that letter I sent you about that Peerless V-8 out in California, isn't it amazing how much that "before" picture looks like this car in its present state?

Dave,

Thank you for your comments on this antique auto consignor and some of the cars there. Regarding the Peerless touring car, we at the Peerless Motor Car Club have a pretty good handle on what year & model it is. According to my research, it's 1 of 2,786 Model 6-70's built between March, 1924 and March, 1925. A few pre-production cars were built earlier, or the car probably couldn't have been introduced January 1st, 1924. This car was the 411th 6-70 built...at least according to serial number progression. IMO, that makes it a 1924.

Edited April 5, 2010 by jeff_a
Added material. (see edit history)

[Guest BJM]

Dave

Jeff is spot on. There are a few of us Peerless geeks that overanalyse the cars. Jeff is an expert on deciphering what a car is. In fact, I think we thought this was a 1925 Peerless at 1st but have since discovered it is a 1924 and has a rare Pullman body. The same guys that made the railroad cars I think.

[Richard Lichtfel]

Can you still buy Carlings? " Mable, Black Label"

[jeff_a]

The Green Dragon,

Personally, I'd prefer a six pack of Carling and a Peerless. I had a Canadian Party a few years ago and was able to buy a case of Black Label, but haven't seen it on the shelves for a long time.

Dave,

I think Bryan is thinking in terms of getting a Peerless 6 and a Peerless 8 someday, if things worked out to where it was possible, so this would fill the niche of the 6 while still being a somewhat interesting car. Though they'd be more costly, there are a couple of exceptional Peerless V-8 Sedans around (two '24's and a '28 come to mind) that would go with this car pretty well. These are all restored & of course would be driveable right now, unlike the '24 Phaeton.

I totally agree with you that you could run up quite a few bills on restoring the 1924 Peerless Touring Phaeton if you didn't do any of the work yourself. Your estimates might even be a little conservative.

Though you said that you thought the body was plain, you are welcome to your opinion. I don't know if you meant compared to some other cars, or that its dilapidated condition renders it too far-gone to bother with. As in, you wouldn't buy a Da Vinci painting if some bozo sandblasted half the paint off trying to restore it. I think the design of the body is interesting. Have you seen the photo of the Peerless in the "'New' Peerless Discovered" thread farther down the page (third post)? It's a 1923 Model 66 4-Passenger Phaeton. Though that's a Model 66 instead of a Model 6-70, it has similar sheet metal and gives us a clue as to what the Peerless in Montana would look like if: A) it were restored, or it hadn't been left outside for 50 years.

It's true that the Model 66 is a V-8, cost more when new [$2,990 vs $2,285], and has a longer wheelbase [by 2"] than the Model 6-70. Horsepower was the same, though, and surviving 6-70's are rarer than Model 66's.

I noticed that your Forum signature shows you to be the owner of three Packards. I read an interesting ad somewhere last year describing a 1921 Packard for sale in South Carolina. The car was one of the earlier Single Sixes built (I think that would be a Series 116), and the owner said that the first 1,000 of them had Pullman bodies (as opposed to the remaining Single Six Packards, with bodies built elsewhere). This Packard had nickel-plated trim on the instrument panel that was different (a little more elaborate) than the regular Packard Single Six trim, but had more restrained use of plating on the rest of the car. This car was a dark blue touring car and was more recently sold or consigned to Gullwing Motors in Long Island. Maybe you saw it. [ NOTE: I looked at the site today www.gullwingmotorcars.com and noticed the 1921 Packard is still listed, on 4/13/10.]

The above doesn't automatically mean that Pullman equals "more valuable" in the case of this '21 Packard or this '24 Peerless, but does make them a little more interesting. Bryan has a book, Great Cars of the Great Plains, that states "Pullman only built automobile bodies for Moon and Packard" (or something to that effect) during the few years they built auto bodies (1919-1925), but it looks like there was one exception.

Edited June 8, 2010 by jeff_a
Added some more comments. In addition -- I mislabeled one car as a 1924 rather than a 1923. (see edit history)

[jeff_a]

I saw a comparable to this 1924 Peerless advertised recently.

A 1924 Packard Series 226 Six, 54 h.p. one of 15,067 Packards sold in 1924. $2,750 new. Estimate $80-100K.

[30DodgePanel]

Many of his cars are mislabled- the 1929 Chrysler s not a 65; the 1930 Desoto is not a 1930... be careful that the Peerless is the model and year he says it is.

That's exactly what I was thinking. Know what your getting.

Not to hijack but that 29 Chrysler he's selling isn't even close to what he has it advertised at. He first claims the car is complete then he list's all the missing parts and things wrong with it :confused:. I find it ironic that he doesn't even mention anything about the butchered top on the vehicle, which is now some sort of patch job to put it mildly and when you view the pics that's pretty evident.

For the longest time he had it for $5,500 and claimed it was a 1928 then a 29 65 series complete with NO RUST, but after he was prodded into doing some research recently (cause I got tired of looking at false advertising) he quickly realized he had a 1929 75 series and was missing a ton of parts, but even so for some reason now the price jumped to $7500 thinking he's got a runner or some sort of gold mine . He also claims he has titles to all his cars but when asked about this one he says he doesn't have it but can get one. :confused:

High priced is right, and the info that's available is way off.

Granted the 75 Chrysler is a nice find especially with the rumble seat/golf bag door option for that year but with all the parts that are missing and the shape it's in one would think $4000-5000 would be more in line to current market value even if it is a 75 series. The total for restoration cost's could never justify that unless you just loved the car and had to have it even if it meant losing on it, which I completely understand by the way. I do love that style of Coupe though.

Edited April 1, 2011 by 30DodgePanel
Typo (see edit history)

[Guest captainstevo]

Well seems like you boys are all experts on someone else's business, what an Aalfin' Joke. And I see that "Chrysler30" is the genius David Young in Phoenix Arizona that wasted a lot of my time masquerading as a buyer. Next time around maybe I will post all his snotty-nosed smart-arse know-it-all emails he sent me about the Chrysler. It really isn't a good idea to go around slandering other people's business, it might not turn out well for you. My partners and I, all serious collectors, do not appreciate the bad-mouthing as stated by some of you above. We've all been in the business a real long time and don't cotton to people bad-mouthing our reputations. I am surprised than the moderators at AACA allow such slander and I will bring it to their attention.

For your information, my prices are my prices and if you don't like them, buy something else. Or in many cases, go try to find one somewhere else, good luck. Below is my standard reply to people who don't like my prices:

"Thank your for your inquiry and offer concerning the price of the (vehicle). I do not take offers or make deals as stated in my Sales Policies, Terms and Conditions. I am inundated with sales from all over the world and do not need to make additional sales based on discounts. I wait any period of time until I find a buyer who appreciates the vehicle for it's value and is willing to pay the price. Accordingly, I will only sell you the vehicle at the listed price. You are certainly welcome to search for and find a similar vehicle in the marketplace that meets your criteria for quality and price. Thank you very much for your interest in DesertClassics. Please contact me if I can be of any additional service to you in the future."

I have no shortage of buyers from all over the world who are happy to buy our vehicles and pay LIST PRICE every time.

Finally, be sure to check on this link to see about 30% of the vehicles we have sold all over the world.

Featured Classic and Vintage Vehicles Sold Archives

Best regards,

Steve Murphy, Owner

DesertClassics

Butte Montana USA

Edited September 14, 2011 by captainstevo (see edit history)

[Guest BJM]

Mr. Murphy

I for one appreciate you coming on and providing commentary. This is the Peerless forum and perhaps the Chrysler talk got a little out of hand, not sure.

It is true that there is often a difference in opinion of value in vehicles. Buyers want to pay a fair price and have to weigh a lot of factors.

Sellers, like yourself, are out to maximize your profit, and I have no issue with that.

I think a lot of your vehicles remain for sale for a long time, but apparently I am incorrect. You are indicating that you sell all of your inventory for your listed price - and do it in a reasonable time frame. I applaud your business skills.

I have a garage and storage area filled with what some would consider desirable cars. I have a 36 Buick Roadmaster, a 48 Packard Custom 8, a rare 49 Kaiser Virginian 1st year hardtop, a 49 Chrysler New Yorker 8 cylinder club coupe and a 47 Chrysler 8 cyl club coupe.

The most I paid for any one car is $2,000. The average price is about $1300.

I have a 73 Buick Centurion 2 door Idaho car with 34,000 original miles I paid $1500 for.

I have seen some ebay salvage yard cars sellers get very upset at the inference that their prices are inflated. I have seen one - a 1940 Buick Roadmaster Club Coupe for $3500 - on there for at least 6 years, and the sellers comments seem to mirror yours. If you don't like it, go somewhere else.

In a way, we have. This is an AACA supported forum and discussion of cars, their value and such is topical. That is, it's not in bad taste given that until you joined in the discussion, we did not involve you.

We think, as a group, your prices are somewhat high. I pointed out a website I frequent, www.modelThaven.com that routinely advertises Model T's and other cars for sale, some projects, a few restored.

I can't afford their restored cars and some of their projects. Their projects, like a current circa 1924 Buick roadster on there now, are typically complete and highly valuable. Some of your cars show extreme weathering and the cost to restore, in my opinion, would be more then I can afford.

As I stated, I have 8 cylinder cars, typically, and all high enders (New Yorkers, Roadmaster etc.) and I have less then $10,000 in all 6 of them. They are all solid projects, many of them run.

Now I really want the 24 Peerless as a project. But I am the ONLY one in the world willing to buy it and restore it. It's a mess, you know that. It's likely the last one in existence. You may know that. I offered $1500 and was turned down by Paul L. He says $2500. I think your website says $4500.

So I don't know what's real and what's not but $4500 is more then the one buyer in the world is willing to pay for it, so it remains deteriorating high desert lawn art. And that's OK. It's your or your clients car to do with what he wants.

The only caveat is, that I would restore it. You, as a businessman, may not care what peopel do with the cars once they are gone. But I am a huge stewardship guy - a car guy - that's wants to save these cars and let the next generation appreciate it.

I also make normal middle income wages, and Jeff A and I know this car would cost more then my house to properly and authentically restore. Therefore, it is my only interest to get it's initial cost as low as possible to justify spending part of my daughters college fund to restore it.

Or work a 2nd job....

But I want to stress I appreciate you coming on and commenting. I have some further questions which would really help me understand the asking price, if you would be so kind to comment.

You don't have to specify any particular car.

But say you purchase a 1935 Ford 2 door sedan that needs full restoration, needs everything. But it has a solid western body and the old V8 is sitting in there. How much do you buy it for? And then how much do you turn around and list it for?

I think some of us have the misguided impression that you purchase these cars for $500 then turn around and slap a sales price of $6,000 on it. That would seem unfair to us. But please share your knowledge. I would appreciate it.

Again, I apologize if I offended you. I tried to buy the Peerless. I was re-buffed and I have not gone on to slander or make false statements since. You have a price, I have a price, we both have our reasoning and I appreciate yours. Fair enough?

[Guest BJM]

Steve

The only thing I might add on your SOLD archives is that we have no way of knowing if the car indicated sold for the price you asked.

I randomly clicked on a 1941 Buick Roadmaster convertible. When I saw the photos, I was looking at a vehicle accident. The car looked destroyed, badly damaged - and your price was $15,000.

Did it sell for $15,000? Can you divulge the selling price?

Or , to put it another way. If the total asking price for all the cars in your SOLD archives came to $1 million, what's the actual price sold for in percentage? 100% 90% 85%

Edited September 14, 2011 by BJM (see edit history)

[Guest captainstevo]

We sold the Peerless today for the asking price. It is none of your business what we pay for vehicles and it is also none of your business what the selling price was, but I can assure you I don't come down and I don't make deals. There is a whole world out there who buy vehicles compared to small local markets of cheap buys and cheap sells, like. We often buy vehicles for very low amounts and sell them for what they are worth, that is our business. To sum it up, my business is none of your business. You don't like the price or the vehicle go somewhere else but do not bad mouth this company. FYI Paul L does not own the Peerless, it belongs to one of my partners and now it is sold.

[Guest BJM]

Steve

Thank you for your kind words and for helping us understand the economics of your business. It is appreciated. Have a nice day.

I used to live in Helena and traveled frequently in your area. It's beautiful country out there. Thanks again and good luck with your business in the future.

[jeff_a]

Dear Staff at Desert Classics and Montana Classic Cars,

That's GREAT to read here on the Peerless Forum about you selling that Peerless 6-70 5-Passenger Touring Phaeton! I've been telling people about the car for years. I'm glad to see that the combination of photo-sharing site, high-traffic sales locations, HMN, and other selling methods have paid off.

I'm surprised that this motorcar didn't sell earlier. I'm used to the general public....and even a few old car guys...not being familiar with Peerless and its place in automotive history, but surviving Peerlesses are even rarer than Model J Duesenbergs and this one is one-of-a-kind. There are a lot of people who would rather have a Peerless from the 1910s or maybe a straight-8 Peerless from 1929-1932, but I think that this Peerless Pullman Phaeton is an important car, even unrestored. Just because it's a bit rarer than a Duesenberg doesn't make it worth more money than one, of course.

It's probably the only 6-cylinder 1924 Peerless.

It's probably the only surviving Peerless 6-70 from any year.

All the other surviving Peerlesses from 1923-1924 (the Cadillac-lookalike-years) are V-8s...so this is much rarer even than the V-8s.

My friend Bryan was interested in buying this Peerless, and I sent him quite a bit of information about the model. At first I thought it must be one of several Six-70s out there, as I knew 10 or so 1924s and 1925s were still around. After hundreds of hours invested in Peerless research, it seems that this is the only one. I believe he would have bought the car already if he had seen it in person -- it's much bigger than it looks in the photos -- or maybe seen a photo of a person next to it. The restored car would stand an imposing 76" tall. I could be mistaken, but I think a '61 Lincoln Continental has a shorter wheelbase. Bryan may have also bought it already if he lived closer and didn't have to spend a grand or two on transporting the car (no way to avoid that). That's all beside the point, since it sold already.

I have been interested in this Peerless since I saw it in 2006. If I had the combination of money, storage space and sufficient staff to restore it I may have bought it, too....but I don't. At first glance, it looks like a very difficult restoration and a car that requires a major restoration facility to even attempt, but I suppose that someone who is a methodical craftsman could succeed, also. Its beauty lies not so much in its present condition but in its future condition for someone with the ability to see it.

Thank you for having this auto out on your lot all this time....well, until last week. It inspired me to begin my study of the Peerless Motor Car Company and join the Peerless Club. If the new owner has any questions about the Peerless one day, I would be happy to help. It will be a great-looking Superb Six Phaeton someday!

Sincerely,

Jeff Brown

Edited September 19, 2011 by jeff_a (see edit history)

[Guest captainstevo]

MT Classic Cars has nothing to do with the Peerlesss and never did. We just stored it on their lot.

[Guest BJM]

Jeff

Got your PM. I guess I wasn't the only one interested in the Peerless but I think with the advent of the internet, that the word got around that way.

If you google 24 or 25 Peerless, most of these AACA posts and discussions, including some I started up in the AACA General section on wood, pop up.

Just my hunch but I think many of the project cars from the project car sellers go out of the US. Maybe not but even I sold a 64 Buick to a guy from Sweden that personally came over and trailored the car to Los Angeles for transport, and it was a project car.

So, the 24/25 Peerless sat at MT Classic cars for years with little or no interest, then someone, somewhere did a google search and located this forum.

Somebody alerted Desert Classics to the forum posts and discussion.

I'll let you know what I find at the Edmiston auction. I will be there early on Friday Sept 30 to scope it out.

[Guest captainstevo]

The Peerless has been for sale since 2006 on my website and has been stored on the Bozeman lot all that time. I found the forum last week when searching for more Peerless information for the new owner. FYI, 70% of all our sales are exported.

[Guest BJM]

We sold the Peerless today for the asking price. It is none of your business what we pay for vehicles and it is also none of your business what the selling price was...

I was pretty sure this would be the result. This is a rare opportunity to understand the project cars/classic car dealers mindset. I was pretty sure I was going to get the "it's none of your business" result.

Too bad. Was trying to keep it civil. I am by far not the only one to find pricing from collector car dealers outrageous. It has been topical for years from the hobby side. There are tons of posts upside of the Peerless forum on dealer pricing.

It's been a fascination of mine for years. I'm not being nosy. It has to do more with my interest in sociology then anything else.

The economic "bubble" we are in, that is, the baby boomer generation and the wealth accumulated in 401ks, pensions and the like is what in my opinion caused the huge demand in all things classic car/muscle car/specialty car in the last 30 years.

You saw baby boomers that worked hard for their retirement years and now either 10 years before or right at retirement instead of keeping a large nest egg, they "splurged" and bought a 69 Camaro or a hot rod or a 50's Tri-Five Chevy.

Then they cruise (at least in Iowa) the town festivals (each town has a corn festival, a 4th of July festival etc) and plop their chairs behind the cars, open the trunk and lay out the restoration photo album.

Of course they didn't restore it, they bought it that way.

40 years ago it was no big deal for dad to use half the garage to tear into a collectible car. Now "Mom" won't have anything of it, let alone the neighbors in the cul-de-sac.

So it's more a human interest then me being nosy. We know the dealers buy low, sell high and the folks buying high are typically the baby boomers noted above who could care less if they overpay as long as they have the toy.

We know from your post the Peerless sold for $4500, full price. I guess that's all we are getting.

[1912Staver]

Hi group, dealers are in my opinion a necessary evil with regards to the old car hobby. They perform a valuable service in that they make available project cars or parts cars that otherwise would be lost forever to the other cash buyer THE SCRAP MAN !!! High priced or not, at least you can decide if the item on offer is something you need. Once the scrap man gets it it's gone, and with the price being offered these days a lot of good stuff is being lost.

I have never dealt with the business in question, and would agree that the prices being asked look to be on the high side. However the Sold archive reveals that at least some of the offerings were priced in the reasonable range. In particular the 48 Allard looked like an attractive deal.

Projects like the Peerless that is the focus of this discussion are never going to make sense from a financial point of view. Only known survivor or not the car is going to be a major money pit, and therefore needs a very dedicated owner. Perhaps the new owner underestimates the scope of the job he has taken on and the project will be on the market again in a few years. With any luck the project will have advanced at least a little, and the price may be more reasonable. Otherwise there are still quite a few "lost cause" projects out there. Do some looking and please be at least one step ahead of the scrap man {the real villain of the old car hobby}.

All the best Greg in Canada

P.S. the European old car hobby is quite a bit different from the one in North America. Here if it's not pre 1915 {or early 30's and up}it's of relatively little interest. The 1916 to late 20's cars are a comparative bargain to European buyer's. In Europe anything pre 1925 or so is considered a true antique car and has a strong following.

Edited September 19, 2011 by 1912Staver (see edit history)

[Guest captainstevo]

There is a huge worldwide market for classic project vehicles. The reason we are successful is DesertClassics is marketed worldwide and we reach the whole world. World market buyers are delighted to find these vehicles and they pay the asking price. They also buy from us because we handle the entire transport and export process. The remaining 30% are sold in the USA and when a buyer wants a vehicle, he calls up and wants to know how to send the money and there is almost never a discussion about the price. Regarding what we mark up, it is based on what believe the retail value is and has nothing to do with what we paid. If we buy a vehicle for $500 and it is worth $5,000, that is what we get for it. It may take decades to make the sale. We have a huge amount of capital tied up in these long term investments. I sold a 59 Apache pickup this morning that we have had since 1977.

Best,

Steve

[Guest captainstevo]

In regard to Greg's comments, we comb Nevada, Dakotas, Idaho and Montana from spring until fall. This means many guys on the road and lots of hauling and work from sun-up to sun-down. What we do is save these project vehicles from the crusher in most cases. Even with these efforts, way too many are going to the crusher before we get to them.

[jeff_a]

Looking forward to hearing from whomever bought the 1924 Peerless Six-70. It has been six months since your purchase. In the event that you have any questions I would be more than happy to help you! Over the years I have sent out quite a bit of information about the 6-70 model to people whom I thought were great candidates to restore it and I hope that one of them -- or perhaps someone else with considerable skills and resources -- is making a little progress.

1912Staver,

"Projects like this Peerless that is the focus of this discussion are never going to make sense from a financial perspective. Only known survivor or not the car is going to be a major money pit, and needs a very dedicated owner."

I'm not aware of any antique car restorations where one makes money, once all the expenses are factored in...even if you own a body shop. It's all about whether or not you want a vehicle restored, in my opinion. I know of a Peerless owner who gladly sold off a '69 Dodge Daytona(yes, the one with the wing) to pay for a little restoration work on a Peerless, and there are a number of car collectors to whom cost is quite secondary(I'm not one of them). Point well taken about a lot of dollar bills going into the restoration of a car like this, but that's true for new, used, antique and condition 1-5. Yesterday I saw a newspaper ad for a new Ford pickup, on sale at $50,700. Yikes!

I think that the potential of this motorcar for both Before and After Photographs and Classic Car Club of America "Full Classic" status after restoration is enormous.

Edited April 11, 2012 by jeff_a (see edit history)