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He lives in the Hamptons and probably paid a lot more than that for the restoration.
That's why its selling at a discountNice Bezel!!!
That's an example of a museum quality, better than new, nut-and-bolt restoration. That type of work alone costs around 50-100k+. It's located in the Hamptons, and for the right buyer the price doesn't matter (although it's about $20k too much for comparable vehicle restorations). It'll be sitting beside a Ferrari in a heated garage when it does sell, if it sells.
Really? 100k+ worth of restoring?
Wow.