In short classic car buyers got wiser. They realised that "unfinished projects" generally meant a bodged mess which will cause alot of pain and a hell of alot of expense, more than if you bought a good car. Yup, I've bought my share of projects and have stopped for this reason.
Why? Here's a good example.
I bought an "unfinished" project of a Stag for not much. It was sold as needing a few weekends work. Forgive me if this sounds familiar. In short, despite the car having an MOT.
-The gearbox blew itself to bits on the drive home
-The brakes were non existant ; the servo (£100 for a rebuild kit), brake pipes and master cylinder were all shot and blocked.
-Due to the shot servo and iffy carbs the engine ran like dog turd
-The interior despite being retrimmed needing completely refoaming.
-The roof was a bodged and patched mess.
I'll be honest here. I put £5k on top into that car. 3 years later I still had issues and it still wanted cash spending. If I'd have kept it I've done:
-Dampers all round ; they were shot as the new owner told me and I suspected
-Engine leaks ; You have to love old gaskets and old sealant to make things fit
-Interior ; it was transformed with a new set of doorcards but at £150 a doorcard....
-Drivetrain ; the rebuilt gearbox went iffy but it really wanted new driveshafts, a diff etc.
Since I've sold it the new owner has:
-Fitted a new CV jointed prop and CV jointed driveshafts
-An uprated header tank over the stock fail prone item
-New doorcards
-Full set of Halogen lights ; I only fitted two to get it roadworthy.
-Koni Dampers all round
-New Contis
-Another gearbox but this time with new lines and cooler
-A diff I provided him
-Other bits.
I understand he's breaking the car. Ultimately once a car becomes too neglected it can soon become a cash cow.
For this reason I was very picky when I bought my M3. Tyres all round can be £1k, and discs aren't much cheaper. All of a sudden a £6k car with many faults looks like a moneypit.
That's my opinion anyway . People don't wear rose tinted specs as much as they used to.
Why? Here's a good example.
I bought an "unfinished" project of a Stag for not much. It was sold as needing a few weekends work. Forgive me if this sounds familiar. In short, despite the car having an MOT.
-The gearbox blew itself to bits on the drive home
-The brakes were non existant ; the servo (£100 for a rebuild kit), brake pipes and master cylinder were all shot and blocked.
-Due to the shot servo and iffy carbs the engine ran like dog turd
-The interior despite being retrimmed needing completely refoaming.
-The roof was a bodged and patched mess.
I'll be honest here. I put £5k on top into that car. 3 years later I still had issues and it still wanted cash spending. If I'd have kept it I've done:
-Dampers all round ; they were shot as the new owner told me and I suspected
-Engine leaks ; You have to love old gaskets and old sealant to make things fit
-Interior ; it was transformed with a new set of doorcards but at £150 a doorcard....
-Drivetrain ; the rebuilt gearbox went iffy but it really wanted new driveshafts, a diff etc.
Since I've sold it the new owner has:
-Fitted a new CV jointed prop and CV jointed driveshafts
-An uprated header tank over the stock fail prone item
-New doorcards
-Full set of Halogen lights ; I only fitted two to get it roadworthy.
-Koni Dampers all round
-New Contis
-Another gearbox but this time with new lines and cooler
-A diff I provided him
-Other bits.
I understand he's breaking the car. Ultimately once a car becomes too neglected it can soon become a cash cow.
For this reason I was very picky when I bought my M3. Tyres all round can be £1k, and discs aren't much cheaper. All of a sudden a £6k car with many faults looks like a moneypit.
That's my opinion anyway . People don't wear rose tinted specs as much as they used to.