I think it’s just about telling ourselves (and maybe our significant others) that we got a good deal. People don’t seem to mind spending $10K on a truck, then dumping $20K on baseline, repairs and mods in a few months time as long as they got the truck for a “good deal.” In the end, they spend $30K either way. I think some people don’t even want to admit that they have so much in their trucks, but I think we all know it’s VERY easy to do. I mean hell, I just spent near $5K for a set of bumpers! As I get older, I appreciate the value of my time and I’m willing to pay more for a truck that has already had the effort put into it. I’m not interested in a super clean stock truck for $30K, but a restored and modified 80 that’s ready to roll and already has the bugs worked out, sure I see the value in that and would (and did!) pay it for the right truck.
In my case, I wanted a 2nd vehicle for overlanding, I was between a new 4Runner or a built 80. The 4Runner would have been at least $45K after tires/lift (or a TRD Pro if I could have found one). The 4Runner is pretty dated in lots of ways, sound system sucked, I see about 50 of them a day, just hard to get excited about. For $15K less I can buy a fully restored 80 with new brakes, new cooling system, new interior with heated seats, suspension, tires, bumpers, sliders, winch, modern stereo with wireless CarPlay and really nice speakers/sub. Then I have a car that will lose almost no value over time or even appreciate and be something really unique and fun. Seems like a no brainer.