How to value a potential project

[MikeH]

Ok, I've been shopping beetles for awhile looking for a winter project. Prices and conditions of these cars are all over the map.

If you see something that looks interesting, how can you decide in a non-emotional way, if its worth it?

I've tried to come up some rules.

1. What would the approx selling value of the car be in an accurately restored condition?
2. What would the approx selling value of the car be in your version of restored or modified condition?
3. What price do you think you can get from the seller.
4. What is the cost of parts and outsourced labor to achieve number 1 or 2 above?

If 3+4 > 1 or 2 then its not a good deal unless (here's the emotional part) when its finished you will love it and drive it and be satisfied to keep it rather than sell it.

I've become convinced that there is no way to make money on this deal and that the emotional connection to keep the car is absolutely critical to justify the cost and effort.

I passed up a really nice project car last night because it wouldn't get me to that emotional place when it was done.

Has anyone else figured out there is a way to have fun restoring these cars and still get your money back out of it when its done?

[ghiastein]

This is my theory

I am currently interested in a 1969 Westy Camper. The year was chosen because of tons of research.

Personally I am not worried about resale value. I just do what I want to like it or leave it.

Back to my future Bus. My plan it to purchase one cheep that does not run and or has mechanical issues but a fairly good body. I have no problem with spending the time out in the garage because it is my hobby. After I finish the mechanical issues the wife and I are going to do some camping. This way we can see if we like camping in a vintage VW.

If the wife likes then I will start my creation from a blank canvas and just go nuts customizing it to my tastes not worrying about if I can gain a return on my investment.

If the wife hates it I will just sell the Bus. My labor is free to me because it is something I enjoy. For example Bus cost $2,500 installed $1,000 worth of parts total investment is $3,500 if I sell it for $3,501 I am a head because I have made a dollar on what I enjoy. I did not have to pay to have fun. I got paid to have fun. Of course I would ask for more money but this is just an example.

Also if the wife hates it I will use my money toward an other VW that I feel fit to use for a blank canvas.

This is just what I feel
AJ

[Southpaw]

Value - is between a buyer and a seller . If in your hart your toy is worth more than what someone is offering just say no . If someone offers more than what you think you toy is worth just say yes and smile .

[bren]

Hmm. both my cars ended up being more work than anticipated and more $. I guess I am not a good judge for this type of thing.
Take John with you. He will tell you it is a piece. You will really think about it before you buy!
Seriously, take 2 or 3 VW people with you to evaluate any car. That helps take the emotion out of it and they will see things that you will miss.
My blue '67 probably should have been walked away from. But, I really wanted it and don't plan to sell it so I ignored John's advice.

[Dustin]

I want them all and I always buy them pos or not because I believe they are worth saving. Every last one because as the years pass they are getting older and theres always going to be a declining number of them.