A REAL Speedster - right in Vince's neighborhood!!!!

Oops! Sorry, but it's a Cabriolet, but it's in spectacular shape.

Check it out....and a mere $115K BIN price!!

http://cgi.ebay.com/ebaymotors/ws/eBayISAPI.dll?ViewItem&item=180257336654&ih=008&category=6428&_trksid=p3984.m107&_trkparms=algo%3DMERI%26its%3DK%252BI%26itu%3DUCI%26otn%3D25%26po%3DOp1%26ps%3D18

Nice example, but the price is ridiculous. This and $200K Speedsters is a bubble that just has to burst, right?

I figure the guy has about $115K just in the restoration.

Think of it this way.......CMC quoted 40 hours to build their kit, and most of know it really takes 400-600 hours to build one.

If you had that done professionally for, say, 500 hours at $70/hour, that would be $35,000 just for labor, right? And that's only eleven weeks of 40 hours each!

Now let's look at 6 months (26 weeks) of show-quality restoration of a steel car; Labor alone would be $72,800, paint should be $5,000, Interior restoration (including top) should be $6,000, Engine rebuild should be $5,000, transmission rebuild should be $2,000 and tires about $500, so that's about $91,300 and I'm only guessing. That leaves a buffer of about $24,000 for "profit".

Some of the original 356 guys are thinking that $115K for this car isn't all that bad, while others think it's a tad high. Either way, it'll be interesting to see what it goes for and where it goes after that (probably Europe).

gn

It's <60,000 pounds sterling and not a lot more in Euros...

That car has been up on Ebay a few times. I'd say you're being conservative on your guess-tamites Gordon, I think it would be a little more than that to restore that to the condition it's in, so you're right on with the justification of the price.
There's always someone out there that wants something and someone willing to sell it to them. A couple weeks ago I saw a 1969 Mustang FB with a Boss 429 go for $325K at auction. And the kicker was a 1968 Cobra 350 FB went right after it for $175K.