Can you make money selling your Rat Rod

[mikec4193]

Hi Everyone

I have been thinking about this question for a while and I thought I would throw it out to you experts.

I have bought sold many cars and some projects too over the years...nothing super cool but most of them I got bored with or ran out of money or they had issues I didn't want to deal with...

So have any of you folks on here ever build a running driving Rat Rod and then went to sell it and actually made a profit?

I don't count hours as part of the equation. Just parts that you had to purchase to complete the project. I am seeing a lot of stuff for sale and the prices seem kinda high in my estimation. I could see if it was 3 window or a 5 window all steel Ford but some of the stuff isn't even close.

Just wondering if the market is strong enough for some of these prices that I am seeing for some rather odd makes and models. And are they actually selling them.

Example: the Road Kill show bought an old but running flat fender Willys for like $4,000.00 and it was a cobbled up mess when they started trying to drive it.

Any insight would be great.

thanks in advance

MikeC

 

[sgtpontiac]

An old car sales guy once told me....

There's an A$$ for every seat....whether or not you make money on it is the question....I would think that there is a market for them like everything else...not everyone can build one..just like other rides....so somebody out there is probably going to want it.....the question is for how much and what is it that you expect to make from it....?? Not an answer but more JMHO....

 

[donsrods]

It is rare for someone to sell a car for nearly what they have in it. I have considered turning out one car occasionally to help defray the cost of our shop, but by the time you buy the parts and do the work you would be making about a dollar and hour, if you made that,

I guess some people do it, but they are the exception.

Don

 

[echnidna]

It is rare for someone to sell a car for nearly what they have in it. I have considered turning out one car occasionally to help defray the cost of our shop, but by the time you buy the parts and do the work you would be making about a dollar and hour, if you made that,

I guess some people do it, but they are the exception.

Don

It's similar in Australia.
and why spoil a great hobby by trying to make a business out of it

 

[soltz]

accually yes

56 F100, 14 yr. driver, 100,000 miles on it and sold it for what I had invested. 69 F100, 20 yr parts chaser / back up, made a few bucks
42 willys flat fender hot rod style, doubled my investment
I like building so I build and sell, maybe i'm just lucky[S hope to do the same on the current project, 71 jimmy sprint

 

[Sam_Fear]

If you don't count labor, I could definitely make money on my Olds. Maybe 200% profit.

 

[zzrodder]

I always make about 20 percent over investment (no including labour of course !!). I keep accurate records of every expense, right down to gas spent on parts chasing, every nut and scrap of sandpaper. Key is doing it all myself except for upholstery - I can't afford to pay others to work, it's a budget buster. Boneyard scrounging and hunting for deals, also not going overboard on expensive zooty parts are essential to keep costs down along with starting with a low cost car, I hate paying more than $1000.00 for a project car.
Another trick is selling it before getting to many miles on it and messing it up (and getting attached to it).

 

[MercuryMac]

IMHO, I take issue with you guys who don't like to charge anything for your time. You are artists, guys, special artists, maybe 1% of the people of the world can do what you do, yet you are happy to cheat yourself out of you labour [a labour of love, mind you] just so you can sell your creation to someone else. Now, I know that you can't actually sell your car if you charged an extra $100,000 for your time. I used the shocking number for two reasons, one, it's rounded off,[1000 hrs work X $100=$100,000] and two you're not just throwing away your labour, you're not counting your artistic expertise, your shop, all of your tools and your small machinery, used in this creation.
Keep on tinkering.

 

[donsrods]

IMHO, I take issue with you guys who don't like to charge anything for your time. You are artists, guys, special artists, maybe 1% of the people of the world can do what you do, yet you are happy to cheat yourself out of you labour [a labour of love, mind you] just so you can sell your creation to someone else. Now, I know that you can't actually sell your car if you charged an extra $100,000 for your time. I used the shocking number for two reasons, one, it's rounded off,[1000 hrs work X $100=$100,000] and two you're not just throwing away your labour, you're not counting your artistic expertise, your shop, all of your tools and your small machinery, used in this creation.
Keep on tinkering.

Yeah, but the problem with art is that no one will pay money for the artwork until the artist is dead !!

Don

 

[von-zipper]

IMHO, I take issue with you guys who don't like to charge anything for your time.

These are very experienced guys answering your question but feel free to charge the going rate for your time and throw it out there on ebay and let us know how you do. In my experience, you'll be lucky to get the parts value back on a ratty much less the hundreds of hours spent.

Zipper

 

[billy]

maybe i could recoup the cost of the parts.
but i would still be out big for the electric,welding gas,consumables,odds n ends etc.
so i would have to say .
no.
i took a beating on my willys jeep.
lost a ouple thousand bucks just on parts alone.

 

[Willowbilly3]

I'm with MercuryMac. My time IS worth something, even if my car isn't. But if I never sell it, then I don't have to acknowledge the fact.

My buddy just sold his 39 binder with the 4BT for 11 grand. He had maybe half that into it. If I had 11 grand, it's sure not what I would have bought.

 

[BigIrish]

I think it depends entirely on what car it is. If it's a popular car that the even the guys who really don't know much about old cars, yet want one, but have no skills to build one, but have some cash to spend, then yes.

Ford coupe/roadster, tri-5 chevy, mustang, etc. If its too unique, then those guys aren't sure if it's "cool", b/c they havent seen one on TV.

I've made money on some, lost my butt on others. The oddball ones without a big following are money losers.

 

[Poor Mator]

I think it depends entirely on what car it is. If it's a popular car that the even the guys who really don't know much about old cars, yet want one, but have no skills to build one, but have some cash to spend, then yes.

Ford coupe/roadster, tri-5 chevy, mustang, etc. If its too unique, then those guys aren't sure if it's "cool", b/c they havent seen one on TV.

I've made money on some, lost my butt on others. The oddball ones without a big following are money losers.

Big money days...started from 80 to 90%. Now, miss it so much, starting from the weeds up. Economic change will grow my experience or prove me a fool but man this is fun. And Oh yeah did well on some lost on some.

 

[chuckp]

On my F100......YEP! I had it on C/List for 8minutes before a guy wanted it site unseen for 15 times what I have in it (at that time) well that started a family fight so pulled it,
My time working on Klunkers is time I'm not watching T.V rotting my brain,I dink around with stuff on the weekends only (usually after 9am & I've been up for 4hrs planning)
The break down of my 53 F100..
Truck $100
wheels $100
engine & tranny $200
sold 2 of the shinny rims that were on it + $60
scrap metal to make motor mounts & tranny mount $free
Total so far $340.oo
still need wiring harness/drive shaft/gauges/plates.

 

[Country Misfit]

I agree with Don+Zipper+the other guys.I think it would be hard to make $ on a Rat sale.Parts +stuff just cost to much these days,it kills your profit.Maybe if you own a junkyard or something like that you could make $.[just my 2 cents worth]

 

[Torchie]

So here is my opinion.
Back when I started screwing around with cars it was fairly easy to buy a car, work on it. Sell it and make a few bucks.
In fact up until about 5 years ago I never lost money on the cars I've sold including costs for my materials and labor. Always made a fair return.
But lately things seemed to have changed.
Cars in decent to good condition are way over priced. Even **** that we wouldn't have bothered to drag out of the woods for free is expensive now. And if you go the RR route by the time you come up with the parts or the cost of the material AND your time to build everything there really is very little chance of turning a good profit. I agree that unless you are strictly in it for a hobby(Which is what I do) you have to figure in your time and labor.
Just look at chopping a top. Current Shop quotes go for around a grand an inch. 4"chop = four grand. WTF
Keep it as a hobby. Don't ever let it take food off your table. Have fun with it and burn your recipts.
Torchie.

 

[jfg455]

I say 95% of the time the answer is no. I have been in this game a long time (starting in my dads MG resto shop) You will do way better buying peoples abandoned projects for pennies on the dollar of the parts and either A: cleaning up what is there and turning it around as a project still (very little labor or new parts added) or B: parting the project out as they are always worth more as a sum of their parts than all together.

I will give an example on a 70 chevelle project I did a bit over a year ago.

Here is my equation: (*disclaimer* that works for me)

A: look at the project objectively - Asking $2500 for 70 Chevelle project

(1970 chevelle, $7100 in new parts included, 1/2 the body metal work done but not well, BBC motor parts all apart, TH400, back road, divroce forces sale)

B: figure out what you can easily get for it on resale - (my estimate $4K quickly, maybe $5k if lucky)

C: offer no more than 1/2 what you honestly think you can get for it - $2k tops

D: Make the offer and be prepared to walk away (hint: there will always be another deal)

E: Do not fall in love with it!!! - See D:

F:If the answer is yes then get it paid and out of there as quick as possible!! Always good to be there with cash and trailer right then and there.

G: get it home and get to avaluating, cleaning, advertising it. Get it sold and move on.

The 70 chevelle I bought for $2k, drug it all home, sold off the motor parts ($400), kept the rebuilt TH400 ($0), sold off the interior kit (all new in boxes $600) Ebayed the chassis and body (all new bushings, lines, tank, sender, steering box, brakes, quarters, fenders, rockers, inners, new SS dash complete and glass) $4200. profit $3200 +Th400 for free. Guy who sold it got to pay bills and keep his house, guy who bought it couldn't build it for that and I got money to go hunting again.

 

[chuckp]

Keep it as a hobby. Don't ever let it take food off your table. Have fun with it and burn your recipts.
Torchie.[/QUOTE]

^^^^^^^^ Good piece of advice right there!^^^^^^^^^ I never let any of my toy come from my pay check! I do a lot of swapping! granted I do buy parts but always pennies on the dollar or trade work for it, buying peoples abandoned projects as jfg455 stated is usually good way to flip for cash,
As I said above I have $100 in a 75-80% complete truck,I bought a project & traded for a 61 Corvair traded it for a 76 Pinto & traded that for my truck because it needed work & the guy needed a running vehicle.. a lot of guys think they can build a vehicle in nothing flat (ya can with DEEP pockets)but in the real world they find out they're in over their head or run out of $$ or fall out of love with it.

 

[UncleDonnie]

It is very hard to make money on car stuff cause your up against the guy that just knocked up the girl friend and he is selling for dimes on the dollar. So buy it and flip it or part it on eBay like the previous fella stated. You young guys less booze and more condoms.

Don