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What does a hobby cost?


Rogillio
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I posted this in the Dodge forum then I realized it applicable to most any restoration. 

 

I lose money on every restoration but I make it up in volume! 

 

The big unknown is the condition of the motor.  If I have to have it rebuilt…..well….uh….let’s not go there yet.

 

At any rate, I’m not sure how many rounds of golf I could have paid for with but I’ve never been a fan of chasing a little white ball around the woods.

 

1926 Dodge Brothers Coupe Restoration

 

Refurb to be done Cost Get front glass back from shop $200 Install glass and windshield   Install battery (might be shot) $100 Rewire horn   Rewire head lights   Rewire cowl lights   Rewire brake light   Get dash back from shop   Mount gauges on dash   Mount dash in car   Get floor metal back from shop   Install floor metal in car   Install last floor board   Replace clutch cover   Grease all zerk fitting   Find/make dash light $10 Wire dash light   Check tire pressure   Plug vacuum hole on carb   Put gas in tank $10 Check tank for leaks   Check fuel pump for operation   Fix fuel leaks    Shroud lacing $5 Switch lever $10 Clean front axle/steering   Replace rear differential seal $25 Pull water pump   Have water pump rebuilt $150 Reinstall water pump   Get radiator shroud back from shop   Mount radiator in shroud   Install radiator and shroud   Flush bock cooling system $5 Fill radiator with 50/50 $15 Take 6V generator off old DB   Pull POS gen off new DB   Install 6V gen on new DB   Replace passenger glass $100 Fix front shroud around crank   Rebuild running boards   Undercoat running boards $5 Undercoat fenders and trunk $10 Rebuild trunk boards   Build dovetail box for behind seat   Make/install headliner $30 Rebuild/cover door panels $20 Interior cardboard $20 Interior trim $10 Make temporary fat man seat $20 Get insurance on car $100 Register car $20 Mount vintage plate   Fix passenger door handle $50 Find/install rearview mirror $25 Paint fenders black $150 Paint interior black   Paint green  $200 Paint headlights   Install headlight support rod   Fix rivets on left fender $7 Clean front hubs and steering   Install hood lacing $10 Install hood pads $10 Install hood corners $10 Find/replace window crank $75 Replace plug wires   Paint wind frame   Clean wind crank assy   Total $1,402         Completed to Date   Cost of Car $6,000 5 new tires $875 5 new tubes $200 5 new rim rubber $100 Remove old tires/tubes   Powder coating 5 rims $250 Mount new tires x 5    Gas tank cleaning $40 Gas tank powder coating $40 Sun visor powder coating $40 Radiator shroud powder coating $80 Floor metal powder coating $40 Window frame powder coating $80 Rebuild Carburetor $30 Replace carburetor float $50 New plugs $32 New plug wires $24 Buy and install electric fuel pump $30 New 6V coil $30 Drain oil and siphoned sludge   Remove/clean/reinstall oil pump   Make gaskets for oil strainer and pump   Rebuild roof with cherry   Material for roof $120 Rebuild flooring cherry wood   Rebuild back dash wood with cherry   Misc SS screws/staples/tacks $20 Rewire coil   Wire in electric fuel pump   Degreaser $25 Clean/pressure wash car and engine           Total $8,106     Balance to Go $1,402     Grand total $9,508     Estimated man-hour - so far/to go 100/300     Estimated Car value when done $8,000     Net gain of restoration -$1,508     Value to Mike of restoring Priceless
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A very wise man told me years ago "you restore a car because you love it, not because you want to make money off of it. For if you have only the money in mind, you will lose your money and your heart". I love the old Dodges, in fact if it wasn't for Crosleys, I'd probably be working one one today!!!

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Log on to the US Social Security website and do the math. Total your life's income to date. If you played the hobby moderately you are likely to have skimmed off about 8% for the cars and activities. If you bought and sold, dealt in parts or services, you can probably add another 2%, with all kinds of exceptions, but in general.

So if you are an old guy and accrued $2,000,000 in paychecks over the last 50 years you, nominally, spent about $200,000 on the hobby and have $50,000 to $80,000 of hobby residual sitting in the garage; could be a little less if it's strewn about outside the garage.

 

Oh, figure in the garage. Especially if you let your new stuff sit outside.

Bernie

Edited by 60FlatTop (see edit history)
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Format got hosed  up.  Here is a better view IMO.

 

I tell my wife all the time...."Baby, If I bought a new bass boat it wold cost me about $50k....and in 20 years will be worth about $10K" 

 

I think all I've done is manged to screw myself out of a new bass boat......

 

 

post-142600-0-46351300-1437417970_thumb.

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To date, I haven't lost a nickel on any of my old collector cars ... because I haven't sold any of them yet!  When the sad day does come that I have to turn loose one or more of my "beauties" (that's in the eye of the beholder), I'm sure that I'll be sad for more than one reason.  I don't keep any detailed written records on what I've spent on any one car to get it running, but maybe that's a good thing ... maybe not.  I probably don't want to know what they cost.  I haven't restored any of my cars in the classical sense, I only get them running, make mechanical repairs and do necessary body repairs.  I do enjoy driving them though, even if the paint looks like a thick coating of dust ... oh, wait, I meant patinated finish. :P

 

I just get 'em runnin',

Grog

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The only exact expenses I know for my cars is right to the nickle of crummy, half-assed work  someone did for me...... every... time... I... stick... the... key... in... the... ignition...

 

The rest I forgot.

 

Bernie

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 It is cheaper to restore cars than any other recreation .

 

 Golf ends up is the 19th hole @ $7.50 a drink.                    (Plus travel expenses)

 

 Base ball causes a thirst @ $5.00 a beer.                            (Plus travel expenses)

 

Boating ends up in a marina @ $75.00 for dinner.                 (Plus travel expenses)

 

Hunting cost about $900.00 a pound for deer meat.               (Plus travel expenses)

 

 Restoring cars ends up at the refrigerator @ $1.00 a beer    (No travel expenses)

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When I was 16 years old and started looking for my 1st restoration project, my dad told me: "it takes no more time, energy or money to restore a convertible than a sedan. But the convertible will be worth a lot more if you ever sell it."  I followed his advise, and later learned that the same principle applies to multi-carb performance cars.   One  can love a convertible just as much as one can love a sedan or a hard top. And be less likely to be underwater financially at the end of the project.

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Every hobby costs money, some more than others ! Even though not a big. Money maker this is an investment that will pay a dividend at the end. This hobby I can share with my wife, children, grandchildren and friends. A small price to pay for the enjoyment I receive! Wayne

Edited by AlCapone (see edit history)
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When I was 16 years old and started looking for my 1st restoration project, my dad told me: "it takes no more time, energy or money to restore a convertible than a sedan. But the convertible will be worth a lot more if you ever sell it."  I followed his advise, and later learned that the same principle applies to multi-carb performance cars.   One  can love a convertible just as much as one can love a sedan or a hard top. And be less likely to be underwater financially at the end of the project.

I agree but some people continue to put tons of money in base model vehicles. Go figure, eh! Wayne

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I agree but some people continue to put tons of money in base model vehicles. Go figure, eh! Wayne

 

Some people (me included) just like base model vehicles.  As to convertibles, my first car was a 1958 Chevrolet Impala convertible (348 c.I., tri-power, 3 speed manual), and I'll never own another convertible.  I hate convertibles, can't stand 'em, won't ride in one and wouldn't hit a dog in the a$$ with one.  With that said, to each his own, and I do not denigrate convertible owners.

 

So there,

Grog

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 It is cheaper to restore cars than any other recreation .

 

 Golf ends up is the 19th hole @ $7.50 a drink.                    (Plus travel expenses)

 

 Base ball causes a thirst @ $5.00 a beer.                            (Plus travel expenses)

 

Boating ends up in a marina @ $75.00 for dinner.                 (Plus travel expenses)

 

Hunting cost about $900.00 a pound for deer meat.               (Plus travel expenses)

 

 Restoring cars ends up at the refrigerator @ $1.00 a beer    (No travel expenses)

 

Roger,

 

LMAO!

 

I like your philosophy regarding the relative costs of the "Classic" Car Hobby; however, I think you're way low on the costs of boating. 

 

Goin' to the garage for a cold one,

Grog

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When I was 16 years old and started looking for my 1st restoration project, my dad told me: "it takes no more time, energy or money to restore a convertible than a sedan. But the convertible will be worth a lot more if you ever sell it."  I followed his advise, and later learned that the same principle applies to multi-carb performance cars.   One  can love a convertible just as much as one can love a sedan or a hard top. And be less likely to be underwater financially at the end of the project.

 

Joel, you make an important and valid point, though I wish it wasn't true.

The net effect of convertibles and all the "flashy" cars being restored is that 

far fewer of the lesser models are seen.  Cars that were once

common, such as 1965 Chevrolet Bel Air sedans, become rare,

and cars that were once seldom seen, such as 1965 Chevrolet Impala

SS convertibles, are seen all the time!

 

The top-of-the-line 1953 Buick Skylarks, 1950's Chrysler 300's,

1958 Buick Limited convertibles--cars that may have had less

than 1000 made-- appear in Hemmings and at auctions routinely.

I've gotten to the point where, at big shows, I'll gravitate to the others.

 

Thanks to people like Nicola Bulgari who are willing to restore

the now-rare once-common cars for posterity!

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Lot of stupid things happen because someone has a car and does not really matter what it is. You can even get attached to a '60 Ford.

 

My garage cost less than a swimming pool. The cost of all my other cars together is less than what I paid for the '12. It has a DOHC 4-valve 6, 4 wheel disk brakes, and all independant suspension. And that's my tow car.

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I haven't kept track too much of car expenses ... mostly gas ... but only as part of keeping track of the gas mileage.

 

Course, the hobby costs more than just money ... smiles, events, tears, sweat & time are part of it, too.

 

 

Cort :) www.oldcarsstronghearts.com

1979 & 1989 Caprice Classics | pigValve, paceMaker, cowValve
"These times I've spent, I've realized" __ EMF __ 'Unbelievable'
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All in all, it is a great stress reliever. Don't think I've ever been without a 'vert for long, have had three Reatta convertibles in the last five years (sold 2 kept 1). Suspect my next one will be a retractable, possibly an '09 XLR once the price comes down. Can use anytime and not just October through May.

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