Concours Restoration - Is it worth the expense

[Shelby4022]

This is the 68 GT500KR - 4022 that I own. There are obvious items that need to be changed, fixed/replaced etc.  I am not sure about the rarity and or value of this particular build.  I bought from a good buddy as an investment and am interested in restoring this vehicle to "new" condition.  Whether that condition is Concours or near Concours I have yet to decide. Several questions I have,
1.  Is it worth a full "Concours" restoration? 
2.  If so, who would everyone recommend for the project?

Thanks to all in advance!!!

Shelby4022

[TLea]

I might know a thing or two about yellow KR convertibles lol. Rare? It's a KR convertible so right there it's one of 500. In the scheme of yellow KR convertibles though you've got a good color but the automatic is going to hold it back a little as far as value. You're probably looking at a high-end restored of 225 with the automatic   as far as what it will cost to get you there it's gonna take a lot more than a 20 foot shot and I'm already report. There's so much that determines cost of restoration, number one what shape is the body in as far as rust and previous damage, including the fiberglass? Number two how about original parts? Things like snorkels, air cleaners carburetors, etc. can quickly add up to tens of thousands of dollars like nothing. I always tell people if you're restoring it for the sake of an investment or value you're probably better off just keeping it as a driver but if you want it to be like a new car then that's the only way to go and you've got a good car to start with as far as desirability.

[Special Ed]

I always look at where the car was sold  and what part of the country it was driven in the first few years NE saltbelt vs SW sunbelt as that will tell u alot about what condition the undercarriage and suspension is in and how many miles were on the car and how the miles were put on the car tells u alot about how much of the car will need rebuilt or replaced especially  on a big block  unibody convertible as without the roof support (like a fastback) the convertibles start to sag in the middle from inner rocker rust and the door gaps can become a real problem as i seen some verts that u cant get the doors open and to fix a rusty convertible can be very expensive and if not fixed correctly can cause reassembly problems.

[gt350shelb]

If doing a restoration for  a profit  is the goal you need to be the restorer not the owner . and even then  its  a tight rope.  the vintage italian cars for pebble beach were  running 500-600K and 3 years of time . if you want to win .

[Steve Meltzer]

I am new to this forum, but not new to the world of vintage cars. I can't even imagine a full on restoration of most any car would be financially profitable. Having said that, perhaps it would be profitable for your own experience and pride, to complete a job like this. But, as has been said in the past, the way to make money buying and selling cars is to buy them right. This would be a long term commitment whether you farm it out or do-it-yourself, and unlike stocks and bonds, cars are not very fungible. s

[CharlesTurner]

I always look at where the car was sold  and what part of the country it was driven in the first few years NE saltbelt vs SW sunbelt as that will tell u alot about what condition the undercarriage and suspension is in and how many miles were on the car and how the miles were put on the car tells u alot about how much of the car will need rebuilt or replaced especially  on a big block  unibody convertible as without the roof support (like a fastback) the convertibles start to sag in the middle from inner rocker rust and the door gaps can become a real problem as i seen some verts that u cant get the doors open and to fix a rusty convertible can be very expensive and if not fixed correctly can cause reassembly problems.

+1 to that, definitely see consistencies in how much rust in cars based on where they came from.  It's not just the car either, all the undercarriage components end up heavily pitted and very time consuming to restore... and they will never look as good as clean rust-free parts.

[98SVT - was 06GT]

I might know a thing or two about yellow KR convertibles lol. Rare? It's a KR convertible so right there it's one of 500. In the scheme of yellow KR convertibles though you've got a good color but the automatic is going to hold it back a little as far as value. You're probably looking at a high-end restored of 225 with the automatic   as far as what it will cost to get you there it's gonna take a lot more than a 20 foot shot and I'm already report. There's so much that determines cost of restoration, number one what shape is the body in as far as rust and previous damage, including the fiberglass? Number two how about original parts? Things like snorkels, air cleaners carburetors, etc. can quickly add up to tens of thousands of dollars like nothing. I always tell people if you're restoring it for the sake of an investment or value you're probably better off just keeping it as a driver but if you want it to be like a new car then that's the only way to go and you've got a good car to start with as far as desirability.

Trust the expert. If you only own 1 it should not be a concours car as soon as you decide not to trailer it somewhere it loses points - little rock chips in the fender wells etc. Concours cars are also not fun to take to local shows where you spend more time guarding your car than looking at the others.

If doing a restoration for  a profit  is the goal you need to be the restorer not the owner . and even then  its  a tight rope.  the vintage italian cars for pebble beach were  running 500-600K and 3 years of time . if you want to win .

That price is on top of buying the car. Top shops are charging up to $200 an hour and they are the only ones to trust a true restoration to. Don't go by what you see as a "restoration" on TV. Those are generally no better than a good hobbyist can do in his garage and I haven't seen one yet that paid attention to the little points eating details. Bottom line figure out the cost v value and see if it pencils out for you. I can assure you you'll be upside down - but who knows if you plan on keeping the car 5-10 years the value may catch up to the expense. If us boomers keep buying the cars we couldn't afford when we were 18.

[nightmist67]

Ultimately, how wise a decision it is to go the full concours restoration route on any vehicle as an investment depends upon how much a potential buyer is willing to pay, less your initial purchase price of the vehicle and its subsequent restoration costs.  Since the value of any collectible is fluid, your car may not necessarily be worth what a similar car reached as its hammer price at a recent B-J or Mecum auction.  One can easily find oneself in the negative range of that equation, which is dependent upon the general structural, mechanical and cosmetic condition of the vehicle at its starting point, as well as whether or not it retains any of the parts that are unique to that year, make, and/or model.  To echo earlier comments, you could, for example, spend relatively modest money for an exhaust system from NPD for a roadworthy ride, or you could spend several thousand dollars for one of Scott Fuller's concours exhaust systems.  From an investment strategy, then, your decision what to do would be driven by how you want to sell the car:  do a quick flip or play the long game.   

[shelbymann1970]

Here is just one part that your car has that mine does also; a PS Idler arm C7ZA 3355 B .I just purchased a rebuildable with extremely nice numbers according to Dan at Chockostang and had him rebuild it and am waiting for it's arrival. My end cost is under 300 bucks and I'm real happy as they go for more than twice that much if you can find one. That is but one "mundane reg Mustang part" that on a non concours car you could get for probably 30 bucks at an autoparts store like too many we seen on cars at Auctions(BaT). I paid 400 bucks for a Flying Fred date coded correct restored button top  fuel pump for my 351W(428s I suspect are more). Just 2 examples of parts that when you go the concours correct route quickly add up like Tim said. Control arms are another. What yuo plan on doing with the car should determine what route you want to go. Trailering it or having it shipped to a judged event isn't cheap plus the entry fees and hotels so what are your end goals for the car should help determine what you want to do.  Good luck on your decision.

[shelbydoug]

To me, Concourse is just a competition that some participate in for the challenge.

Yes it has historical value.

Some of the level of judged perfection is almost unattainable in the procedure that exists today. It probably will never change.

It's up to you to determine the value but likely the intensity that is necessary to get the car there and then maintain it there will keep you out of the bars and the "Nudie club" for quite a while. It is going to take up most of your free time for sure. 

[gt350shelb]

Concours Restoration = super model "don't touch me"

Quality Driver = Cute Girl next door  " hey lets go get a beer"


Life is based on good decisions pick wisely   

[Side-Oilers]

^^^ Nailed it!  The perfect explanation.

[hurlbird]

i once had a couple try to buy my car from me at a local car show (great offer but I wasn't ready). Similar to your car i suspect. One i drive and enjoy. They had just finished a concourse restoration of their coupe. He said it cost huge dollars for whatever that is worth. Anyway, he wanted my car because he said his is a piece of art work that hangs on a wall. cant use it just look at it. His wife wanted a convertible which i have. Any place i go with my car its like being with a celebrity even though its mostly original and not perfect. By the way 99% of all folks who stop to speak with me say do not touch this car its great to see originality, chips and bruises.....

[TLea]

Concours Restoration = super model "don't touch me"

Quality Driver = Cute Girl next door  " hey lets go get a beer"


Life is based on good decisions pick wisely   

I don't get it, is there a reason you can't take the supermodel out for a beer? Seriously I think there is a misperception of what a concours car is. Yes most are trailer queens/museum pieces because people don't want them to degrade and there are those that build cars and never put fluids in or run them but a concours car is simply a car that is restored to as delivered condition (which is why I would never consider a car thats never been run or tested as complete). A concours car should be able to gas up, hop in and go and drive safely.  All the cars I own personally are restored like this and driven and every car I restore for others has same ability

[shelbydoug]

Concours Restoration = super model "don't touch me"

Quality Driver = Cute Girl next door  " hey lets go get a beer"


Life is based on good decisions pick wisely   

I don't get it, is there a reason you can't take the supermodel out for a beer?

I'm still waiting and the likeliness is that the wait won't be over ever?