The $128,000 Question

Jim Kilday
Jim Kilday Expert Adviser
edited November -1 in HUDSON
It looks like it will cost somewhere north of $50,000 to restore the Hornet Special on E-Bay and that amount will likely produce a car in No. 2++ condition.



Based on my experience with my '46 Coupe, I think the restoration cost estimates are pretty accurate.



Now, assuming a No. 2 heading for a No. 1 condition Hornet Special with a professional restoration, what could this car be sold for if you weren't in a big hurry to sell it?



Jim K

Comments

  • Aaron D. IL
    Aaron D. IL Senior Contributor
    $20,000 .... to a non- HETer. LOL
  • HornetSpecial
    HornetSpecial Expert Adviser
    I am restoring a 54 Hornet Special that my Dad once owned. I am way above $50.000. I know I should not have done it, but it was Dad's !! And hopefully it will stay in the Hudson family. I guess there are worse ways to blow your money!! As long as you can get the little women to agree, that is the trick. Hope to see a lot of our Hudson friends at DOC'S meet in Front Royal Va. 7th 8th and 9th of May.:)
  • 53jetman
    53jetman Senior Contributor
    While this one is only a "Super Wasp", it will give you some idea of what the car could look like when completed
  • Aaron D. IL
    Aaron D. IL Senior Contributor
    A coupe Special with every possible option including power steering and the right paint job would be the most rare and desireable Special I could imagine. (I'm pretty sure no Hollywoods were made.) and being a 1954 only model might be enough to push it into good money from the right collector. Although the Club sedan/ Brougham was the only year that was offered as a Hornet I'm not so sure that on appearance someone would consier it as desirable (that's just my theory.) even though it's more rare.

    Most of the hobby is into muscle cars now and I think anyone on the open market would want "the racing one." If Hudson could ever have been said to have made a muscle car a '54 Hornet Special Coupe with Twin H is pretty much it.
  • Browniepetersen
    Browniepetersen Senior Contributor
    How about a little reality check here. If you plan to spend north of 50K on this project, then I think you need to consider it a labor of love that you intend to keep, drive and enjoy. I work with a couple of "High end" restoration shops and I am the first to admit that they charge big bucks for their work. No question that their work is excellent. If they are able to convince you that their work is the quality that you want and you feel comfortable with the price then I say "go for it." I have always been confused by how well any particular car will do in a first class judged show. Quality of restoration is not the only factor that goes into getting a high score.



    With that said, I have never seen this model of Hudson sell for a high figure. I have never seen one go for above 30K. Very nice Hudson Stepdowns, coupes and Broughams are going in the marked of 20K to 25K. Granted, convertibles will pull in a price of 50K or higher but to date I have not seen this in other Hudson's. I really like the Hudson broughams. The 54 is my brougham of choice and given the option of buying a new Corvette or a Hudson Brougham (equal bucks) I would take the Hudson any day of the week. That is personal preference and for a lot of folks that would be a big leap from reality. That said..... I's buy the car and enjoy the process....



    E. L. "Brownie" Petersen

    Petersen Historical Automobile Appraisals
  • hdsn49
    hdsn49 Senior Contributor
    I restored my '49 Brougham a few years ago. It actually took me 26 years to complete. I have in excess of $50,000 in my car. About $20,000 was the result of a bad restoration shop. They had the car for over 6 years and I paid them about $8,000. They called me one day and told me that they were bankrupt and come get the car. I ended up bringing the car to another shop and they had to do everything over that the previous shop had done. In addition the first shop sold a lot of my parts and I had to purchase new ones.



    The car came out great. It gets a lot of attention at shows and I have won several best of show trophies. I never looked at the car as an investment. I always wanted to restore a Hudson to as close to a new car as possible. I have two sons that grew up in our club and have a strong love for Hudson as their dad. All my cars will some day be passed down to them. In the mean time I get to drive the car and enjoy it.



    I look at it this way. I could of bought a brand new car or truck for $50,000 and driven it for a few years and it would be worth a lot less than the Hudson.
  • [Deleted User]
    [Deleted User]
    I saw an unrestored, VERY nice original car, same make, model with 3 speed o/d at Pomona last weekend for an asking price of $13K OBO. For the money, that car is a much better deal and it is in nice enough original condition to show in car shows. It may have not sold. It was owned by HET member Pete Naberhaus in Pahrump, NV. His phone is (702) 596-1957
  • [Deleted User]
    [Deleted User]
    The light blue Super Wasp with the for sale sign was once mine. It was sold new by Harry Luff in Salt Lake City. The lady who bought the car "gave" it back to the Harry Luff Hudson dealership in the late 1960's when she became too old to drive. It was a low mileage car but sat outside for many years and the weather hurt the car badly. Although the upholstery looked nearly new, it had dry rotted. I sold the Super Wasp to Ted Wilming in 1992 and he later sold it to Steve Traudt. Steve restored the car with upholstery that was like the original.
  • RL Chilton
    RL Chilton Administrator, Member
    Jim-

    All good advice here, as usual. I'll add to the " . . . if you weren't in a hurry to sell it?":

    All desirable older cars are going to appreciate in value. Always have, always will. That said, the unknown is the amount of time one is willing to sit on his investment to at least re-coup the cost of a top-notch restoration. Farming it out requires a higher initial investment and a longer time frame before the investment can become a reality. Could be 5, 15, 20 years or more before a '54 Hornet Special Brougham is a 50K car. It's hard to say, so many variables. Hudson step-downs took a slight increase in value after "Cars". We'll probably see another upturn when the sequel comes out, if Doc is in the movie. Hype always drives up demand, which drives prices up, particularly when the supply is limited.

    I'd go with the do it for the love of the marque, for passing on the passion or just for the feeling of accomplishment and sheer joy for now. Let the money work itself out (which it will eventually), but put the cost on the back burner, if you are able to.
  • hdsn49
    hdsn49 Senior Contributor
    RL Chilton wrote:
    Jim-





    I'd go with the do it for the love of the marque, for passing on the passion or just for the feeling of accomplishment and sheer joy for now. Let the money work itself out (which it will eventually), but put the cost on the back burner, if you are able to.





    Great advice.
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