Classic trucks restoring worth it? Advice for 1955 Chevrolet 3100 2nd Series Pickup

[goldenyear]

Hi,
 

I'm wondering about 1955 Chevrolet 3100 2nd Series Pickup, the car from https://dyler.com/cars/chevrolet/3100-for-sale/1955/357602/chevrolet-3100-2nd-series-pickup-trucks-pickup-1955-blue-for-sale. I see a lot of classic cars for sale weekly and they considering restoration. How can people ensure they are getting a fair price, and is restoring classic trucks like this worth it? Any story sharing appreciated!

 

 

Edited August 2 by goldenyear (see edit history)

[keiser31]

It's only worth it if you are excited about it and not doing it for a profit.

[John_S_in_Penna]

38 minutes ago, keiser31 said:

It's only worth it if you are excited about it and not doing it for a profit.

That is the succinct summary for all restoration.

 

People enjoy restoring cars and trucks, or pay to

have the work done so they can enjoy a vehicle.

It never PAYS to have the work done in monetary 

terms, but we are preserving history and bringing

overlooked vehicles back to glory.

 

Proper restorations can cost many tens of thousands

of dollars, even $100,000 to $200,000.  And a restored

vehicle may then be worth only, for instance, $30,000!

Any work done must be done to a high standard, or the

lower quality will be obvious to knowledgeable people.

 

However, you can enjoy the truck without having to

spend such amounts.  Get it running well.  Maybe a few

years later have it repainted ($10,000 to $15,000 for

excellent work).  Later, redo the interior if needed, with

100% correct and authentic materials.  And share the

truck with others for great satisfaction!

[John_S_in_Penna]

59 minutes ago, goldenyear said:

How can people ensure they are getting a fair price...? 

I don't follow truck values, but there are some

respectable pricing services available on the internet.

One is at Hagerty, which is an insurer of collectible vehicles,

though they don't have values for everything:

https://www.hagerty.com/valuation-tools

 

Another is bound (4 times a year) into the

publication Old Cars Weekly:

https://pricing.oldcarsweekly.com/pricing_guide/

 

You will find that asking prices are often FAR

higher than a car's realistic value.  That's especially

true of old-car dealers, whose prices can ludicrously

be double true value.  Rarely are they sold for such.

So you have to keep your eyes out and be patient.

[1912Staver]

These trucks are currently VERY popular.  Worth restoring for what purpose ? Your own use ? Re-sale ? Their high demand makes them usually quite expensive compared to what they actually are { usually an old , used hard , workhorse that probably needs everything } Good part is that pretty much every part needed to re- build one is available. And they are very simple , uncomplicated, durable design vehicles. { unless you go stupid with twenty first century chassis modifications. Then you stand a good chance of having close to $100,000.00 into a truck that you might be hard pressed to sell in the 40 - 50 K range.

 But unless you are exceptionally lucky , the only people making money on these are established shops doing work on customer trucks.

 

 

 

Edited July 28 by 1912Staver (see edit history)

[TerryB]

The link in the original post goes to a dealer type listing shows the asking price to be $26,500.  Some modifications to the truck are listed including a lowering kit for the suspension and a 5 speed transmission.  Personally I would hang out on bring a trailer website and possibly Hemmings auctions to see what similar vehicles are bringing.  Trucks are indeed popular these days and prices have increased accordingly.

[Bhigdog]

If you can do excellent work and do most everything your self including the painting, and if you didn't over pay for the truck, and if you don't count the over head of your shop, and if you keep track of EVERY penny for the IRS bite, you can come out dollars ahead if you sell before it gets too "used".

Of course, time wise, you will have come out way better if you had spent those hours being a greeter for Walmart...........Bob

[GARY F]

I wouldn't buy this because it is a street rod and to me the price is out of line.

[7th Son]

40 minutes ago, TerryB said:

The link in the original post goes to a dealer type listing shows the asking price to be $26,500.  Some modifications to the truck are listed including a lowering kit for the suspension and a 5 speed transmission.  Personally I would hang out on bring a trailer website and possibly Hemmings auctions to see what similar vehicles are bringing.  Trucks are indeed popular these days and prices have increased accordingly.

 

The subject truck is what I would call a "mild rat-rod", having all the trademarks except for a hodge-podge body and custom external features. It appears tp be refurbished mechanically as well as the interior having been cleaned up. The body and original finish has either been oiled or clear-coated to produce the shine. It's lowered as noted before.

It's probably a reliable driver, but for 1/3 the price, you could purchase an untouched old beater truck (as this would appear to be to the general public), and begin to refurbish it at your own pace.

I think $30k is more than optimistic for what this truck really is.

[ramair]

Best advice I have ever received that I did not follow until late in life was, go buy the best example you can buy! You will save a fortune in the long run.  Pickups are popular now, however as others have stated that you can have well over $100,000 in a complete restoration unless you put in some sweat equity, either way it will be worth $50,000 or less the day you bring it home from the restoration shop, ask me how I know!

however I am not sorry as I am happy with the results and more importantly it was a family heirloom. My last couple of cars I applied the “buy the best example” and I still had to spend money on them, but no crazy surprises and more importantly I has able to drive and enjoy them a few months after I bought them instead of decades later.

[TerryB]

The shiny patina treatment only goes so far in adding any value.  I like pickups, had a 1937 Dodge Brothers for a long time.  They do ride like trucks and are noisy and hot inside compared to a car of equal vintage.  Trucks are inherently tall and lowering them just distracts from the “truck” look.  But, if you like it then go for it!

[John_S_in_Penna]

8 hours ago, TerryB said:

The link in the original post goes to a dealer type listing shows the asking price to be $26,500. 

Mr. Goldenyear, the truck you pictured has

a dealer's asking price of $26,900--for one

needing lots of work.  In contrast is another

one (this a 1952 Chevrolet) in apparently

excellent condition and priced at $36,000.

It may be overpriced too, but in comparison,

it's a better value by virtue of its better condition:

https://www.hemmings.com/classifieds/listing/1952-chevrolet-3100-ocoee-fl-2801147

 

Edited July 29 by John_S_in_Penna (see edit history)

[mrspeedyt]

nice trucks. but greatly overvalued.

[1939_Buick]

10 hours ago, goldenyear said:

I'm wondering about 1955 Chevrolet 3100 2nd Series Pickup, the car from https://dyler.com/cars/chevrolet/3100-for-sale/1955/357602/chevrolet-3100-2nd-series-pickup-trucks-pickup-1955-blue-for-sale. I see a lot of classic cars for sale weekly and they considering restoration. How can people ensure they are getting a fair price, and is restoring classic trucks like this worth it? Any story sharing appreciated!

Quote

1955 2nd series pickup trucks original paint (patina)283sbc 500cfm 4barrel new coated headers,REBUILT 5 speed 26 spline tremic transmission, new clutch, new brakes lines and emergency brake, new sway bars, REBUILT 10 bolt rear end, new old school SID'S dropped axle and springs, new power steering kit, new wheels and tires,new front disc brakes, new front seat, drive nice and has that cool old school look

A lot of "modifications", but not uncommon. A lot of $$ to restore back to stock.

Keep looking.

Edited July 29 by 1939_Buick (see edit history)

[TAKerry]

Not sure how much merit there is to it, but I was watching a bit of Mecum in Harrisburg off and on over the weekend. There was a beautifully restored late 50's chevy pickup. It was better than new factory correct with original inline 6. Looks like it could def be a high scoring AACA truck. It sold for $18,000. The guy probably had half of that in the paint job. 2 cars later the exact model and year pickup crossed the block. This one was hot rodded with a modern v 8 motor, over the top interior, custom wheels etc. Nice looking truck. It sold for $45,000.

[Ben Bruce aka First Born]

2 hours ago, TAKerry said:

Not sure how much merit there is to it, but I was watching a bit of Mecum in Harrisburg off and on over the weekend. There was a beautifully restored late 50's chevy pickup. It was better than new factory correct with original inline 6. Looks like it could def be a high scoring AACA truck. It sold for $18,000. The guy probably had half of that in the paint job. 2 cars later the exact model and year pickup crossed the block. This one was hot rodded with a modern v 8 motor, over the top interior, custom wheels etc. Nice looking truck. It sold for $45,000.

 

  Kinda flies in the face of " modification causes value to drop" does it not?

 

  Ben

[TTR]

If speaking strictly in financial terms, every old car or truck is always worth restoring, but not necessarily to those doing it themselves or paying for having it done, even if they get it for free to begin with.

 

Every restoration is always worth something to those who have a business or otherwise make a living supplying parts, materials & professional services for any restoration, like engine and other mechanical component rebuilders, body & paint or upholstery shops, etc.

 

And in most cases, a restoration can be or usually is worth a lot to those who buy it after it’s been done and paid for by someone else, i.e. "buy the car & get the restoration for free" or vice versa.

 

 

Edited August 10 by TTR (see edit history)

[28 Chrysler]

A good friend of mine sold a highly detailed restored rust free 1957 that was same color but it had a white roof for $32,500.

A good price would be 1/2 of the asking price of the $27.000  -  if the truck runs and drives well.

[George Cole]

This is not a 'classic truck.'  It's a hot rod and doesn't belong here.  When added to the bloated asking price, to undo the modifications which have been done to it and put it back to some semblance of original would cost far more than the truck would ever be worth.  Someone made it their own personalized hot rod...that's all it will ever be. 

 

As has happened so many times before, the OP dumped this here with an open-ended question, and hasn't been back in over 24-hours.  

[60FlatTop]

Many years ago I figured out every $4,000 a person spends on refurbishing/upgrading a car will add about $1,000 to the selling price. It may be a little less today. Expenditures of less than the $4,000 are usually negligible.

 

With 60 years of experience I have found that the best old car deal is to pay a premium (like limited to $10,000) for a really clean, well maintained 15-20 year old car or truck. I like to think of that Duesenberg sitting in a back row used car lot in 1951 for $450. It's my mind. If I want to think I repeated history and it makes me feel good, it's going to happen.

[Dr B]

3 hours ago, Ben Bruce aka First Born said:

 

  Kinda flies in the face of " modification causes value to drop" does it not?

 

  Ben

Interesting, I used to think that to. However, with aging baby boomers who can no longer get into older cars, and don't like to sweat, and don't like to wrestle with a steering wheel, these resto-mods are frequently bringing more money than the same car restored to original condition, especially if it's not something unique.

 

Robert

[TAKerry]

And most of the hot rods/resto mods I see are driven by people that look to be older than myself (60).

[TTR]

1 hour ago, TAKerry said:

And most of the hot rods/resto mods I see are driven by people that look to be older than myself (60).

Now, that makes perfect sense to me.

Assuming of course you’ve seen me driving mine in past +/-35 years, as I am and presumably have always been little older than you.  😉

[Bob Giles]

This ‘55 will never see  AACA Showfield, buy it makes a good Founders or Divisional Tour vehicle.

[pkhammer]

Just for comparison sake, I have a friend that owns this beautiful Advance Design Chevy. Flawless paint, runs and drives great, perfect interior, no mods except dual exhaust and the wheels. This truck is as clean on the underside as it is on top. He's been trying to sell it for two years now. He started at a touch over $30k and is currently at $28k and would certainly consider offers over $25k. Almost every potential buyer moves on because it doesn't have a V8, automatic and A/C.

[TTR]

1 hour ago, pkhammer said:

Just for comparison sake, I have a friend that owns this beautiful Advance Design Chevy. Flawless paint, runs and drives great, perfect interior, no mods except dual exhaust and the wheels. This truck is as clean on the underside as it is on top. He's been trying to sell it for two years now. He started at a touch over $30k and is currently at $28k and would certainly consider offers over $25k. Almost every potential buyer moves on because it doesn't have a V8, automatic and A/C.

Could be the photo and its green background, but that truck appears to have other mods, including (green) tinted glass and radial tires, which I would suspect didn't come with it originally.

OTOH, it does prove the worthiness aspect since whoever "built" it probably spent a lot more than $30K in time & materials, even if DIY.

You might also advise your friend that "trying" is often far cry from "selling" and latter is much easier when you just put your mind to it. 

Just about every car/truck (dozens) I've ever bought for/owned myself and later ended up selling, went to the first person interested enough in it and almost all for the full asking/expected price.

[pkhammer]

@TTR You are correct about the radial tires. The glass however is not tinted.

[Dr B]

You know what I really like about this group, even through the original poster has yet to follow up (if he ever does), we have still had a great meandering conversation about old trucks, sales, restorations, and restomods. Par for the course. You guys are THE BEST!

 

Robert

Edited July 30 by Dr B (see edit history)

[ramair]

Some of you have heard me before give my opinion on how frustrating it is to spend time answering someone and they never look back. Sometimes it is unavoidable, there are a lot of distractions in life.  However it has gotten to the point of me deciding that when I see a new question from a new OP I check and see when they joined , when they asked the question and the last time they checked back,  this saves myself a lot of time trying to word things politely, check my grammar and spelling. Not that I mind having a conversation with all the great people on this forum, just saying

[goldenyear]

Thanks a lot EVERYONE for your opinions and taking the time to share them! Cheers! 🍻

[Dr B]

5 hours ago, goldenyear said:

Thanks a lot EVERYONE for your opinions and taking the time to share them! Cheers! 🍻

YOU CAME BACK!!! THAT'S GREAT!

 

[Packard enthus.]

MODIFICATIONS BEYOND 'STOCK'  CHANGE VALUE?

 

Wouldn't that depend on the vehicle and era?

 

For example,  who would want to "modify" a pre-war Cadillac V-16, Duesenburg, Packard, Lincoln, or Pierce-Arrow?  They were and still are valued for  (assuming properly maintained)   their fine quality and superb performance.   I believe that is probably still true for, oh, say a "mint" '55 Cadillac Fleetwood.

 

Now let's compare that "mint" '55 Cadillac Fleetwood with a "mint"  '55 Chevrolet pick-up.    The difference in performance,  passenger comfort,  overall quality.  What comparisons would be relevant to drive them on today's roads?

 

Those who know what that Cadillac is like to drive,  know they often came with "factory air".  They could cruise literally loafing at 80 mph,  in near silence.    I rather doubt if anyone has experience driving a factory-stock '55 Chevrolet pick-up at 80 mph...!  Or, for that matter,  just try and keep up with modern inter-city traffic on today's "Interstates".....!

 

Dont we all enjoy creature comforts?  Dont we all enjoy being out in public with nice old vehicles reflecting what we identify with?    Who can argue that for pleasant modern driving, wouldn't it make more sense to "gut" that old Chevrolet,  install whatever modern components meet our needs?

 

It should not surprise anyone that a properly done modified vehicle that meets a customer's needs,  would command a higher price than "stock" vehicles in the class of old Chevrolet pick-ups.

 

 

 

Edited August 2 by Packard enthus. (see edit history)

[goldenyear]

I agree with you that the value of a vehicle can change a lot depending on the type of car and the market. 🫡

[zeke01]

I came of age with the Advance cab Chevrolet pick ups They were ubiquitous. I loved them in 1956 and still like them today. However, the going prices of these trucks dissuade me from purchasing one of them. Maybe one day someone will say"They are no longer cool" and I will have one.  Long story short, Too expensive  Zeke

[goldenyear]

Thanks Zeke!!