A newly discovered dream find speedster project!

[JTR70]

Well, just when you thought the pond was all fished out another one resurfaces! A new holy grail Speedster find!! Same owner since '71 and long since parked in his Southern California backyard!!
On Ebay now: http://cgi.ebay.com/ebaymotors/1957-Porsche-356-Speedster-/130942294171?_trksid=p3984.m1438.l2649&ssPageName=STRK:MEWAX:IT&forcev4exp=true#ht_500wt_1021

Now taking wagers on what it will ultimately sell for. Sitting at 79K but I'm thinking north of 150K at auctions end. I also believe the auction will be ended early in a private sale. My thanks to Mark Erbesfield for the heads up!
Here are some shots! Why couldn't I have been this guys next door neighbor!!

can you imagine your excitement upon peeking over that old wood fence and spotting this under the schrubbs.



The years of overgrowth just mowed over those sidecurtains.









Obviously freed and back at the lucky devils shop who discovered it.



Rusty floors and a missing motor; not a bad jumping-off point! What a mouth watering find to us terminal 356 nuts!!!!!!!!!!

[Trevor]

I love it, but who wouldn't! I hope it doesn't get restored, just left as is. Maybe if I'm lucky it will show up at Jack's shop...

[JTR70]

I agree Trevor, clean and make it road worthy but leave all of its warts alone. If Jack gets the job you'll have to keep us posted but I have a strong feeling it will be leaving the United states when its over.

[merbesfield]

From the looks of that door ID plate it looks like the door jambs have never even been repainted.

[JTR70]

It sure looks that way.

[bbspdstr]

The only GOOD thing about that is the crazy inflated values of Porsche's original entry level 356 vs the relative ease of restoration. Less in, more out if it's 'flipped.'

Funny how "dreams" shift. In the mid-to-late '60s, in my teens and early 20s, when daily-driving my Speedster, I would go slowly past junkyards hoping to see a disc brake donor C, or a 'slightly hit' 904.

In the early '70s, I found a Speedster in New Jersey, next to a barn, mostly stripped but otherwise whole in appearance similar to the one in this thread. It was given to me sans paperwork,(like "OH, you'll take it away for free?") but the metal turned out to be so thin it couldn't be saved (at that time, it wasn't worth it!) After all, the farm grew tomatoes and lots of bushels were rested on that Speedster and the acid did more than the acid rain to which it was also exposed, so after removing ALL of the remaining parts, I threw it away. No record of the number, I just remember it was red.

Hummmm, so 40 years later a better result will come from SoCal? If so, I continue to be jealous of that environment!

[Restomod]

So lets see, guess of $150k sale, get it running a fluff and buff. Do it yourself and spend as little as you can (get the best deal) you end up with say $180 - $200 (MINIMUM) in it. Then what set on it 10 years if you can or try to flip it again.
My .02 here (not being able to afford it) is the ONLY guy that will make out is the guy selling it now.........

[MMW]

Or the resto shop that might get the build. I really don't see it going for 150K, it doesn't even have an engine.

[merbesfield]

[quote="Restomod" post=9744]So lets see, guess of $150k sale, get it running a fluff and buff. Do it yourself and spend as little as you can (get the best deal) you end up with say $180 - $200 (MINIMUM) in it. Then what set on it 10 years if you can or try to flip it again.
My .02 here (not being able to afford it) is the ONLY guy that will make out is the guy selling it now.........

I agree. And I also think it will hit $150K. I already think it is over priced tho. IMO.

[MMW]

So you guys think 150K? Wow is all I can say. 150+ maybe another 50+ to restore = 200k?

[JTR70]

I always love hearing stories of the way things were back in the day Bruce. It really makes my mind race! It must twinge a little to see what these cars are doing now and the choices made back when they were worth nothing. No different than passing on cheap real estate out in the middle of "nowhere" just before a population boom I suppose. Its that painful perspective of hindsight...

Hey Mic,
Below are shots of a 60-80K "project" speedster.


For the price you'll get the right to reserrect the chassis # and maybe a coupe donor as your new platform. If you're real lucky you might even get a few speedster related parts too but chances are you'll be on the hunt for most of them. Then there is the cost of buying new "speedster" body panels from a guy like Steve Hogue. Probably 10-20K for his time. Then if you hire out the "reserrection" there is easily 40-50K+ in labor for someone who knows what they are doing like Bruce. So this intact speedster up for sale now is really a more cost effective way to go even at 150K. You would be miles ahead of the game and its all original. I think the last really prestine pushrod speedster just finished at action for 230K or somewhere in that range. So you've still got some room.
The Europeans are always clamoring for a project speedster so with the exchange rates as they I think they will easily pay 150K US which is why I would be shocked if it remains here after the sale. We'll probably never know the real price because I'm sure at this very moment someone or several have offered him Stupid money to end the auction now..
I agree with Brock, the guy selling it probably picked it up for 20K. "sure I'll come on over and get that Nasty old eye sore out of your way and give a nice chunk of change while I do it"

[merbesfield]

quote="MMW" post=9753]So you guys think 150K? Wow is all I can say. 150+ maybe another 50+ to restore = 200k?

Mic, I think it would take more than $50K just to do the metal work alone. At least I know if I were doing the work, it would cost that much for me to do it, and I would probably not make any money at that price.

[bbspdstr]

It may be ending soon or just getting started...who knows?

About 10 years ago, a guy for whom I restored a C Coupe found the Speedster he'd always wanted......a CA car! It drove when it reached the east coast, with the rubber mats keeping the driver from seeing the road go underneath the major holes in the floor. He paid 26k sight-unseen on an Internet deal. It needed the whole front outer sheet metal and a lid...and a full battery box. heavy front hit with NOS mis-used (very frustrating to see!) and an inch of mud to make it all fit and then the bumper brackets had to be welded ON TOP OF the channels they were supposed to be bolted into. Utter butchery. Minor collision damage on the rear, fixable metalwork there and everywhere else.

The great thing was that all the hard-to-find parts were included, Windshield, top frame, seats 'numbers matching' engine and trans, date-plausible wheels, etc.

We snickered behind his back....."He paid WHAT...for THAT???" Ha, ha.

The guy got sick, the car got sold overseas and he made x10 what I made on the restoration. Sold for 150k when that was 'all the money.' The only good news there is that I'm still fairly healthy physically, the sad part is that he is only financially better off.

Prior to that, a formerly raced Speedster owned by that customer since the early '60s (and therefore ostensibly 'free')came in and was completely restored for under 70k and sold too-soon after (needed money for 'other things' and haven't spoken to him since)for 125k when that was the max. He 'invested' 70k for a couple of years and 'made' 50k on that investment. Not shabby.

The brokers make the most for the least involvement, the owners usually make the most (at least with a Speedster) and those who do all the work (well) make the least but make the rest all possible during these peaks. I can't say it's not fun now, but I'll say it's not as much fun as it was 40 years ago.

[Restomod]

Two other things about this bother me, 1: low feedback seller and low feedback bidders....in my 13 year ebay experiance those are not good things.

Justin, if anyone really paid $80k for that they were a damn fool!

[merbesfield]

quote="Restomod" post=9757]Two other things about this bother me, 1: low feedback seller and low feedback bidders....in my 13 year ebay experiance those are not good things.

Justin, if anyone really paid $80k for that they were a damn fool!

Call me a fool, but I would by that car in a second for $80K. That being said, it is not for sale at $80K and I believe it will go for much more. I think there are a lot of folks with more money than us that are eager to get their hands on an unrestored, i.e. unmolested, Speedster project.