In fact, I have sold two cars at a profit this year. I know that the Niche Pursuits crowd is into all sorts of different ways to make money. I have a classic Mustang obsession that started even before I could drive. My first car was a Mustang Coupe. I restored it from rust-bucket to a driveable alongside my father as a father-son project. He bought a Mustang Coupe for himself which he worked on in the garage stall right next to me. During this clasaic I also got a job working part time at a local shop that specialized in classic Ford Mustangs. I basically was the kid who stocked products, but they had me do some basic work on upholstery and the interior of some of their lower end cars.
Classic Car Restoration: Laying the Groundwork
For anyone who loves cars, buying and selling classic cars for profit may be a dream. But there’s going to be a lot of work before you can make makign dream come true. Knowing how to replace a carburetor or bang out a dent in a bumper is certainly important, but much of the business of selling cars is going to be leg work — that is, finding cars at prices that you can make a profit on. As Mary Wickison, a year veteran in selling classic cars, points out in AxleAddict, the price you pay for the car will determine whether or not you make money when it comes time to sell. So the key to a profitable business is keeping your original investment as low as possible. There are several ways to find good deals on used cars, but kicking tires at car shows isn’t one of. Barn Finds: Classic cars stored away in a barn for a couple of decades are rare treasures for car enthusiasts. Kept out of the elements, often kept under a tarp, these can be in great condition, though probably quite dusty. Hobbyists: Most men, and quite a few women, have thought about fixing up an old car and flipping it, but not everyone has the time, patience or resources to get the job.
Mechanical Considerations
Their forgotten projects can be a great source for cars that were rescued years ago and kept safe in a garage. Repair Shops and Scrap Yards: Like the half-hearted hobbyists, there’s a chance you will find a makung car that has been set mnoey in these places. The owner is offered an old car for a cheap price and decides he might fix it up, only to postpone the project indefinitely. Driving around hunting for cars can be a time-consuming endeavor — fun for a hobbyist, but a time-killer for a business owner. If you do have to hunt for cars yourself, Wilkinson suggests using Google Maps’ satellite view or even using a drone to scout the countryside.
The eBay Community
Discussion in ‘ Shiny Things ‘ started by headhunter , May 15, Log in or Join. Adventure Rider. Dismiss Notice. Become a site supporter for a free shirt and ad free viewing. Restoring a car for profit.
BUSINESS IDEAS
If you want to score a Plymouth Deluxe Sedan, a s Porsche, or a s Corvette or Mustang, this is the place to go. The Scottsdale car show from Jan. The TV star could not immediately be reached for comment. It too has no reserve price. Everybody loves classic cars.
BUSINESS IDEAS
They can be gorgeous to look at, own, and — in some cases, at least — to drive. Two researchers went through the auction data of 29, car sales going back to the late s. Their conclusion? Most of these cars have been mediocre investments — at best. Gross returns from classic and vintage cars overall worked out at around 5. But that was before deducting all the costs involved in buying, owning and eventually selling the cars. The gross returns figures looked better than most stocks and bonds over the same period, the authors note. But it was a poor period for stocks, as it making money restoring classic cars near the peak of the s bubble and encompassed two big bear markets, financial experts note. And stocks, unlike classic cars, cost next to nothing to ship, store, restore, insure or maintain.
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