37 replies to this topic

[MaxAndPaddy]

Sorry Ghost but I'd sell

I try to always keep investment in mind, failing that covering my costs. If Oliver had of been a later MPI Cooper Sport or an Le or similar I would be urging you to keep him

Its hard because you do get attatched and feel like you have to follow things through to the end. But If I was investing that kind of money into a resto it wouldnt be him

[Black.Ghost]

It wouldn't really be a reshell though. There is enough rust on the other major components that actually the only thing I could really keep would be the engine - and even that I will be doing a gearbox rebuild and a new head.

Its not even registered in the UK either. Because I got posted to Germany, I had to de-register and re-register it with the Army over there. When it came to bringing it back, because it wasn't on the road, I had to cut some corners. So although I have all the paperwork ready to go, I don't actually have it registered in the UK at the moment.

As a pure investment, its a no brainer. However, as my mini I don't really want to sell it And its not really an investment as such, as I intend to use it as the daily driver rather than sit collecting value.

Having had a look around, there are some bloody expensive minis around at the moment!!

Edited by Black.Ghost, 31 December 2012 - 04:57 PM.

[blacktulip]

i say it depends on what the car means to you? if you are emotionally attached then i say do it. if you are willing to learn how to weld,have the money, have the space and time then choose this option and buy yourself another mini to have on the road or another car if that floats your boat.

in the end you will still have your pride and joy and even more... it will be done with no bodges for peace of mind.

i did think about selling blacktulip but since i have it back i know i wont find another and with no bodges. plus i would cry lol.

[AVV IT]

Spend £5-6k on sorting out an spi??? ...... Erm No!! No way!!

With the market as it is at the moment you could replace it with an already restored version for half that amount, (true you could also pick up something in the same state of repair as what you already have for that amount too, if you don't know what you're looking for.)

I do appreciate sentimentality to some extent though, my mini has been in my life longer than my wife has and over double the amount of time that my kids have, so I'd probably spend a bit more on keeping it live than I would any other car, but that said there are still limits as to how much I'd spend on it.

So unless you have taken leave of your senses, I would either take it off the road and do the work yourself for a fraction of the cost, reshell it (legally before anyone starts), or just cut your losses, sell it on and buy another. I certainly wouldn't spend 5-6 times what it's worth on probably only making it worth 2-3 times it's current value.

[Black.Ghost]

The sad thing is, it really doesn't look that bad from the outside. A lot of the cost is estimating at the moment as well, until I know what the guy will charge. That is also factoring the new stage 3 head (a big chunk of the money) and a few other bits. But financially, I know you are right.

Emotionally, I wouldn't say attached. But a part of me also doesn't want to prove people right - they said I wouldn't get it done blah blah blah.

Are SPis really worth that much in parts?

[AVV IT]

Have you budgeted for an upgraded cam? If the engines coming out for a gearbox rebuild anyway, then for the sake of an extra £150, it makes sense to fit the spi performance cam as well, in order to get the most out of the stage three head.

[Black.Ghost]

Everything is coming off the car for the rebuild. But the actual engine spec will be done in consultation with someone who knows a lot more about these things than I do. It might not matter now though...

[Shifty]

If reason came into most mini restorers would be out of buisiness!!

Its a hobby and is much cheaper than drinking or smoking, if you've got the money and are happy in the knowledge that you'll not see a return on your money then go for it.

[Black.Ghost]

I have just spoken to the gf about it as well. She is also of the opinion that its probably too much to spend, and she also thinks I should sell him and get another one. She said I'll be upset for a month and then forget all about it

I'm not convinced about selling it, but I am definitely coming round to the idea of teaching myself how to weld and giving it a go. But if I end up having to pay for a garage every month for a garage, for a few years, it will start to cost quite a bit.

I think I should have sold it ages really and saved all this trouble I also think a new mini in as good a condition as I can get is in order, just need to make up my mind on selling or fixing.

[ginsters]

I'm not convinced about selling it, but I am definitely coming round to the idea of teaching myself how to weld and giving it a go. But if I end up having to pay for a garage every month for a garage, for a few years, it will start to cost quite a bit.

I think I should have sold it ages really and saved all this trouble I also think a new mini in as good a condition as I can get is in order, just need to make up my mind on selling or fixing.

[ginsters]

I'm not convinced about selling it, but I am definitely coming round to the idea of teaching myself how to weld and giving it a go. But if I end up having to pay for a garage every month for a garage, for a few years, it will start to cost quite a bit.

I think I should have sold it ages really and saved all this trouble I also think a new mini in as good a condition as I can get is in order, just need to make up my mind on selling or fixing.

9 minis later and im still relaying others.

[Midas Mk1]

Save it, you'll regret it in the future looking back, dont give up on it. If it means it'll take longer, have a go at it :) good things come to those who wait...

[Tomlad]

Option 3 I'd keep it mate our mini has a load of bodges that we weren't aware of it just means it will take longer but as others have said you will end up learning about it which can only be a good thing if you are going to be owning one for a period of time plus you will be able to do all your own repairs.

I think if you do sell it you may regret it, I sold my first mini from about 7 years ago and still sad thinking about it. That said it is up to you

[mattdc2r]

Since my mini will only be used in good weather and will never see salted roads, i'd go for option 1. However, if you are using it as a daily, i'd be tempted by option 3 and then have another car that isn't a mini, otherwise you'll just end up with 2 projects. How about an MG ZT estate, that way you can use it for throwing all the welding gear and panels that you'll need for your re-build.

[CHUNKY365]

Simon. I'll be Emailing you seperately with a costing, but please bear with me.

I've kept quiet on this subject as obviously I have a vested interest, but have been watching with interest some of the comments made.

I have taken note of the options you have listed and to be honest, if the car was any worse than it is I would be advising a complete re shell or indeed cutting your losses and selling.

But as it stands, selling what there is at the moment won't make much money for you to invest in another car.

So looking at the bigger picture.

Just selling as it is, isn't going to turn a big profit and considering the monies you have already invested, this option seems a waste of time and cash.

Buying another shell could present just as many problems (if not more) than there is already, so another waste of money.

The option of trying to weld the car up yourself could work, but will take a long time and as Shifty quite rightly says, us car restorers do know our stuff!

I can assure you that once I've been over the car and repaired the various bodges that already been done, the shell will be sound and solid and ready to accept the mechanicals.

Someone mentioned about guaranteeing against rust. Of course no one can guarantee against that (even top flight manufacturers!).

But your shell will have the benefit of having had all the rot cut out, replaced with fresh steel and protected against the elements in a better form than it was sent out from the factory!

Not only that, pictures will cover the bodges discovered and repaired as I go.

Please wait for my email, I'll think you'll be pleasantly surprised at the result.