Editor;
Re: Never sell anything (PM Mailbag Friday, 04 March 2016) – No one makes money on cars! I thought you were more astute than to make a misleading statement like that. What of Toyota Nissan etc. & the thousands of new & used dealers? Restoring motor vehicles was a “hobby” of mine. I was once employed by one of the largest insurance companies in Australia as a motor vehicle claims assessor. To do this task one must have mechanical certificates (which I still have). As I was in the Claims Dept. I usually had the opportunity to purchase totals before they went to auction. I also received a 25% discount of the estimated returns by auctions.
By using used or generic parts I could repair a vehicle and show a profit. As the vehicles were sold with no registration mostly the only outsourced cost was an inspection by DMR and the cost of re-registration.
My best buy was a 1952 Studebaker Sedan that had been garaged for over 30 years and was a deceased estate. I purchased the vehicle for $2000.00. It filled my weekends and spare time for almost a year. I dismantled the motor and gave it rings, valves & bearings (which it didn’t really need). Replaced all components that may be suspect. Inspection of transmission which proved to be in good order. In other words I repaired or replaced almost the whole mechanics. I did the repairs to the body and did the spray painting. The only outsourced item was the upholstery. Cost of purchase & restoration was over $8000.00 .The vehicle was snapped up by a vintage car club for $27,000 (beat me down from$30,000).
You may say $19,000 is not much to show for a year’s work. But it gave a lifetime of memories.
Ryan Patricks
