Hitting the $20,000 milestone

dougson

I just paid for the restoration of the doors and hood ($2200) from my '54 Hornet coupe and have gone past the $20,000 milestone (including cost of car) in my restoration. I hope the car's worth it! I still have the engine rebuild to pay for (labor), seat cover, and final body work and paint :S . I've already passed the NADA high resale value of the car, but I know coupes go higher than suggested retail value. I have no intention of selling the car any time soon so I guess it doesn't really matter how much it costs to restore, but it will be up there :ohmy: !

kamzack

Being the proud owner of a restored and enjoyable Hudson is priceless.
And I'll add, I'm jealous. Get in, sit down, shut-up, hold on and you'll be ear to ear grins. Can't go to WalMart and buy that.
Kim

dholck

If you don't have at least twice what it's worth into it, you are behind the power curve, my man! As I like to say; I have the finest $20,000 coupe that $40,000 can buy.:silly:

[Deleted User]

I am a licensed collector car appraiser, I have viewed no value guide that I feel is accurate on Stepdown Hudson prices, especially the 1951-54 Club Coupes..... don't worry about it, sounds like you are doing well in your project cost-wise

Unknown

According to nadaguides.com, the 1954 coupe values are:

Hornet Club Coupe (average/high)
$10,050 $19,500

Hornet Special Club Coupe (average/high)
$8,950 $17,300

Based on comments I've seen on this forum, those values are at least $5,000 too low. Is that about right?

I was surprised that the 4-door sedans were actually valued higher. Aren't they considerably more common?

[Deleted User]

I've got a 41 hudson sedan I'm restoring now for six years. After about four years I was thinking of selling it. for anything farther along with less work. I mentioned that to my wife. She said ,how many Hudsons do you see at car shows . Rarely see one. I about ready to paint it. Now Glad I kept it. I know I'll have more in it than its worth,but its worth it. I think putting on the redone chrome pieces will be the best part, besides driving it.

Chris Smith

I have to believe that NADA guides and the like can only value a 54 Coupe by monitoring previous sales of like cars. Well, how often do remanufactured 54 Hornets come to market? I say hardly ever, so their valuation is crap. When mine is done someone will have to bring a wheelbarrow full of cash and I mean FULL, for me to ever let it go. I havent kept a close record of expenses on my project but it would not matter to me anyway. An NOS part is a drug for me so when I find it I buy it if I can afford it. If I didnt buy car parts,the money would go somewhere else that I could not account for. I can always sell a nice part if I need the cash for another nice part. Parts is Parts and I like and have lots of parts. Did I mention I like parts? I wish I was rich so I could make hard to find parts.

[Deleted User]

please PM me (or email me at caribbean53@yahoo.com) if you have a very nicely restored (or darn nice original) 51-53 Hornet coupe for sale for 20k or below, I'll take every one you can send me....... AND i am NOT a dealer, no spray painted chrome- bondo'ed up restorations please....

Browniepetersen

After looking at the NADA I always move over to Old Cars Weekly. They break the 54's down into 4 classes for the Stepdowns and then break them out by coupe, 2 door sedan and Hollywood HT. They go something like this:

Wasp 2d Club Coupe $18,500 to the Hornet 2d Club Coupe at $21,000
Wasp 2d Hollywood HT $21,000 to the Hornet 2d Hollywood HT $23,000


I have seen a few of these on Ebay and they never make it above $15,000 and fail to meet reserve.

The few that I have seen at Auction have sold between $30,000 and $35,000 and with Ebay and the Auctions it does not seem to matter if it is a 2d Sedan, or 2d Hollywood.

Now, to the clincher (supply vs demand) my wife will always say that they are not worth anything until you sell them. When you sell them they are only worth what someone is willing to pay. Just some of my thoughts.....

Edwin L. "Brownie" Petersen
Petersen Historical Automobile Appraisals

jefepeters wrote:

According to nadaguides.com, the 1954 coupe values are:

Hornet Club Coupe (average/high)
$10,050 $19,500

Hornet Special Club Coupe (average/high)
$8,950 $17,300

Based on comments I've seen on this forum, those values are at least $5,000 too low. Is that about right?

I was surprised that the 4-door sedans were actually valued higher. Aren't they considerably more common?

[Deleted User]

Brownie, there isn't enough money to buy my 53 Club coupe. I buried a fortune in it and am enjoying it more than any new high price car. I can back it out of my garage and head to the east coast. which I've done 11 times so far, total 134,000 miles and still runs like the day it came out of my garage in 1998. Our cars are worth what ever the owner put on it. $20,000 just about would cover the chrome job and the paint job with every piece bead blasted right down to the unit body/chassis framework. Walt.

54SuperWasp

How much time will it take to have a brand new $40000.00 luxury car be worth only $20000.00? 3 to 4 years maybe? You change for a brand new one and go through the same process... What you loose on these two "modern cars" will pay a very nice Hudson I am sure. When was the last time somebody followed you to you're home and get in your driveway and say: "Hey sir! Wow! What a car you have! What is it? A Chevrolet? What year? A 2008? Oh! It's my dream car you know!"

Dreaming of a Hudson is Good! Having one ( Even a parts car) is Better! Driving one is Priceless! Michel.

[Deleted User]

When ever I leave my garage door open to work in Margaret's flower garden, yes, she lets me do it, I hear brakes squeal and then they back up to ask me what kind of car is that? Most have never heard of a Hudson, and when they walk around and look it over, then I let them sit in it and they can't believe what they are looking at. I've had more offers to sell, but they all get the same answer, you do not have enough money to buy this car. In Maryland, I was offered a blank check and a ride to the bank to cash it and plane fare home. We still have the car. Walt & Margaret Mordenti OH yes, it was a five (5) year job.

[Deleted User]

Am I glad to hear you guys go on and on about what you have sunk into your cars. Now I feel better about what I have put into my 54 Special. I have daydreamed about what I would do if someone made me an offer "I couldn't refuse" as the Godfather said. It would be a no brainer, no sale. I have done most of the work myself and know every nut and bolt in that car.

Doug

Aaron D. IL

Old car price guides is all guessing on Hudson's especially since most Hudson's do not change hands on the open market. Most cars sell between HETers in our chapter cars have gotten passed around, a little work done by each owner and sold again. Also those price guides have no clue about scarcity of certain models.

They traditionally have not kept up value with big 3 classic cars. Sedans are most common and will never fetch as much as Hornet coupes. As someone else pointed out though true value can only be counted where the rubber meets the road when the cars actually get sold. I bet you'd be surprised how far below list price a lot of those Ebay cars eventually get sold for. As Gus Souza said "there's never a reason to pay full price for any car because there's always more for sale than there are buyers."

As I tell non-car guys all the time, money is the wrong reason to get into this hobby because a car is never really an investment, they may hold their value with inflation and most old cars don't have the depreciation but they're not an investment. Get into any car because you love it, don't care if you get stuck with it, and are not worried if you never get your money back out of it. Also people who buy restored cars outright probably never get the same satisfaction as those who restored the car themselves.