I have a 1983 FJ40 I have had for sale for a few months (also listed on mud classifieds). Really haven't received much interest in it which surprises me. It does not currently have ac or power steering. My question is should I bargain basement the price or start a long restore. I have most everything needed to restore it including rear quarter panels, power steering and ac. Just afraid with todays market a restore may not be worth it time and money.
Thoughts welcomed.
I have a 1983 FJ40 I have had for sale for a few months (also listed on mud classifieds). Really haven't received much interest in it which surprises me. It does not currently have ac or power steering. My question is should I bargain basement the price or start a long restore. I have most everything needed to restore it including rear quarter panels, power steering and ac. Just afraid with todays market a restore may not be worth it time and money.
Thoughts welcomed.
I don't think anyone would know the answer to that question better than you. You have case studies and data on many past restorations for how much a true restoration costs. Sometimes its not about the money, but about the process. Do you love the process or do you do it to make a few bucks? I personally cannot figure out how anyone makes money on speculation restorations that are primarily subbed out unless they value their personal time at or near $0/hr. I feel like the numbers get even worse when you self perform everything because it extends the project out so much longer.
My personal opinion is an unpainted survivor is more appealing that a re-painted perfect 40, but I wouldn't spend $30k+ on a 40 with the rust that this one appears to have. The fact it is an '83 really doesn't do anything for me even though I know it is unique and rare in the 40 world, power steering or AC wouldn't change that either. It appears to be mostly in good shape except for the rear of the tub and rust on the frame? Maybe it just needs to be a body off, with frame and axles all cleaned of current rust and painted/powdered, and just fix/paint the rear of the tub if that is all that needs rust repair? Don't blow the whole thing apart and paint every inch, just clean it really good and polish the paint that remains and blend it into the new paint.
Not having AC or PS is a drag on this, as one of the main wants on these 'late models' is those modern conveniences.
And yes, rust scares most of the general public.
This would have been a ~$8k truck before the china virus, so appreciating to $30k in 5 years is hard to handle. I sold a way less rusty running and driving FJ40 that had PS and AC for $8k about 6 months before wuhan was let loose. And the demand was not super strong even at that price. (i hate myself everyday for doing that, but thats another issue)
As with anything, its worth what someone will pay.
Thanks for the responses. Problem is I am a restorer and not sure how to do a "fix up". With my restorations it is not for the money or I would not do them. I do it for a hobby. If you count your time you would be way in the hole. I normally have a waiting list for restorations. I just completed a 1982 restoration. No waiting list and it took me a little while to sell. I came out all right $$ wise but the time it took gave me cause for concern. This one would be a complete frame of restoration if I go that way. I guess I could fix the rust in the back, paint that area and try for a sale. I just am not familiar with patching things up.
Thanks for the responses. Problem is I am a restorer and not sure how to do a "fix up". With my restorations it is not for the money or I would not do them. I do it for a hobby. If you count your time you would be way in the hole. I normally have a waiting list for restorations. I just completed a 1982 restoration. No waiting list and it took me a little while to sell. I came out all right $$ wise but the time it took gave me cause for concern. This one would be a complete frame of restoration if I go that way. I guess I could fix the rust in the back, paint that area and try for a sale. I just am not familiar with patching things up.
If you're going to blow it apart I'd add p/s and ac and make it a good driver. I think right now average 40's and other avg. collector car types are not moving and prices are low. I think currently, quality builds will maintain higher prices and there maybe more interest in them at this time. Restomods seem to be very popular too. Things may change in the next year or so. Watching @Jdc1 's documented quality 40 build on BAT should be a good indication of what's going on in the market. I hope he puts a reserve on it.
