01 Dec

Meet the Restorers: Veteran specialist Kent Bain weighs in on the classic car market

Kent Bain with the Aston-Martin DB2/4 he raced in the 1992 Carrera Panamericana

Kent Bain with the Aston-Martin DB2/4 he raced in the 1992 Carrera Panamericana

Stratford, Conn. – There were times when art was the best investment, or antiques, or real estate, but these days it’s hard to beat the appreciating value of old cars. The price for once-common cars such as the Porsche 911 or the Jaguar E-Type have risen so astronomically that you may be able to retire on the profits from selling that old rust bucket in the garage.

To get a snapshot of where we are today, you can start with Automotive Restorations in Stratford, Connecticut, headed by a more than 30-year veteran of the business, Kent Bain.

Bain works with a 32-member staff (many of them from England, where old-world craftsmanship is still alive) in restoring everything from priceless Ferraris, Alfas and Cisitalias from Italy, to Ford Woody wagons and vintage Cadillacs, with the odd Toyota Landcruiser thrown in. He does it all; body fabricating, upholstery, painting, engine rebuilding. Recently a group of the company’s English craftsmen were hand-forming body panels for a 1950s-era Cunningham C4RK, building it up from a chassis that was left in a Connecticut garage for decades. At the same time, another British fellow was spending a day crafting a headliner for a Jaguar XK140 Drophead.

Bain was a designer who turned his car-fixing hobby into a business in 1978. “When I started, the old car hobby was a small group of relatively committed individuals,” he said. “Now there’s something wrong with any hedge fund manager who doesn’t have a collector car in the garage. It’s a phenomenon. And it amazes me that my avocation has expanded so dramatically.”

This 1965 Mustang convertible could maybe fetch $35,000 today, but dock it down to $20,000 with a six under the hood

This 1965 Mustang convertible could maybe fetch $35,000 today, but dock it down to $20,000 with a six under the hood

It’s a sad truism that the market is slowing down for pre-war cars, because their natural constituency is aging out of the hobby. So most of the hot marques today are 1940’s and newer. Baby boomers with money are making nearly any 1960’s car, even the four-door sedans, collectible. Some examples of soaring values:

“A Porsche 912 nobody wanted because it had a Volkswagen engine has gone from maybe $2,500 to $60,000. They’re being bought up by people who really want to get into the hobby but can’t afford a $100,000 1969 911S.” Even the bread-and-butter Porsche 914 (not even the sought-after 914/6) is bringing big money.

“Microcars like the BMW Isetta are really in the spotlight, too. It’s funny, because they may look cool but they’re terrible to drive.”

Porsches are blazingly hot as collectibles, especially convertibles like this 356

Porsches are blazingly hot as collectibles, especially convertibles like this 356

“Jaguar E-Type coupes are selling, not just the convertibles. Even the poor-relative 2+2 models are very collectible now. Also, Lotuses, and four-cylinder post-war Alfa-Romeos from coachbuilders like Pininfarina.”

Everybody wants Jaguar E-Types, and even 2+2 coupes are selling

Everybody wants Jaguar E-Types, and even 2+2 coupes are selling

“Older Ferraris are doing really well. Some collectors’ think they can do just as well buying a new Ferrari and having it appreciate, but that may not happen. Ten years ago, if you bought a Ferrari 330 for $75,000, big money then, it would have appreciated a lot. And you’d be doing much better than if you’d bought a modern Ferrari instead. Old is the way to go.”

This 1947 Cisitalia Vinale 202 SC came out of Argentina; no two are alike

This 1947 Cisitalia Vinale 202 SC came out of Argentina; no two are alike

Bain points out that the hobby is now full of purely financial buyers. They may not know a lot about cars, but they love the idea of a rapidly appreciating asset. They could be in for an unpleasant awakening when they find the car, unlike a painting, needs to be exercised regularly to keep its value. And it can drip oil on your pristine garage floor.

Because of the Carroll Shelby connection, Sunbeam Tigers are now $50,000 and up

Because of the Carroll Shelby connection, Sunbeam Tigers are now $50,000 and up

“The exercise thing is critical,” Bain points out. “Machines don’t sit well,” he said. “Their blood pressure needs to come up. Everything dries out,
including the brake seals and the valve cover gaskets. That means warming them up and driving them regularly.”

Before you get too excited about the big bucks, Bain says there has been some market softening over the past year. Woodies, for instance, have seen some price decline. And there are more people on the hunt. “The notion of ‘stealing’ cars doesn’t really exist anymore,” Bain said. “The sharks are everywhere.”

The Automotive Restorations shop floor is filled to overflowing with mouth-watering cars

The Automotive Restorations shop floor is filled to overflowing with mouth-watering cars

Around the ARI shop floor is an array of mouth-watering vehicles in various states of composition. A ’40 Ford Woody was fully restored, with a brand new hand-crafted wood body. Next to that was the Aston-Martin DB2/4 that Bain raced in the hell-for-leather 1992 Carrera Panamericana in Mexico (but no longer owns). That car is huge fun, but building one like it is an illustration of why vintage racing — becoming hugely popular — is not for sissies. The basic car might be $250,000, and then the same amount would go into it preparing for a demanding course like the Carrera Panamericana.

A tidy 1965 Ford Mustang convertible with a pony interior was worth maybe $35,000. Bain pointed out that a similar car with stock interior and a six-cylinder engine would be downgraded to $20,000.

This 1940 Ford Woody has all new wood, they all need it, and it doesn't diminish the value that it's not "original”

This 1940 Ford Woody has all new wood, they all need it, and it doesn’t diminish the value that it’s not “original”

A 1967 Volvo 1800 coupe was bought for a market-topping $32,000, but still needed a fair amount of work, including removing a silly hood scoop and fixing the horribly orange-peeled paint job. A nearby Triumph Stag, brought in for evaluation, was an example of a car that looked superficially restored but would become a money pit if all its issues were corrected.

Here’s a rundown. A ragged-but-drivable XK Jaguar in a corner needed 300 hours of bodywork, plus at least 50 hours (at $90 to $120 an hour) to install the interior kit. The bottom line would be 500 to 600 hours of labor to make it ready for the concours stage. The cost could be over $100,000 for the work, when the car is only worth $125,000 in that condition. It’s probably better, said Bain, just to get it running, fix the rust, and touch up the bare spots with a paint brush. And if you drove it that way you could actually have fun.

This Bugatti is brought in for further work when its owner-mechanic needs a rest

This Bugatti is brought in for further work when its owner-mechanic needs a rest

Also cautionary, a Mercedes 300SL roadster, bought as “restored” at the height of the market, that needed a full engine and transmission rebuild.

Here’s a good way to approach buying a collector car: Meet the owner, and get their measure. Have the car fully checked out before money changes hands, go through any available records, and buy with full transparency.

Watch Kent Bain on video, discussing the state of the market today:
https://www.youtube.com/watch?v=MqnflUzff7M

Article and photos courtesy of Jim Motavalli, adapted from Mother Nature Network

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Welcome to Automotive Restorations, Inc.

Founded in 1978, we are well established practitioners of the art and craft of vehicle restoration, preservation and care. We have grown to encompass a broad range of services with a staff of over 40 highly skilled, enthusiastic and motivated individuals.

Link to us online at www.automotiverestorations.com
Or call or visit us at:

100 Lupes Drive
Stratford, CT 06615
Phone: 203-377-6745 Fax: 203-386-0486

18 May

Sleek Alfa Romeo Guilia SS coming to Mathews Park in Norwalk for Father’s Day Car Show

Aerodynamic styling: 1963 Alfa Romeo Guilia SS (Photo ARI)

Aerodynamic styling: 1963 Alfa Romeo Guilia SS (Photo ARI)

Norwalk, Conn. – The Bertone-designed Alfa Romeo Giulietta Sprint Speciale was introduced in 1957 at the Turin Motor Show. This rocket-like interpretation of the Giulietta Sprint Coupe, inspired by Alfa Romeo’s famous BAT concept cars, was penned by designer Franco Scaglione and achieved a record (for a production car) .28 coefficient of drag, not bested for over twenty years after the car’s introduction. With its aerodynamic body, the car was capable of over 100 mph with a tiny1290 cc twin-cam engine. In 1963, disc brakes were fitted and the engine grew from a 1300cc to a 1600cc, which accompanied a name change from Giulietta to Giulia (the ‘grown-up’ Giulietta). Some small interior changes were made also but the exterior remained unchanged, save for the name badges. With twin Weber carburetors, the new 1600 cc engine, made 112 bhp and with a 5-speed transmission allowed a top speed of 113 mph and a 0-to-60 time of 10.9 seconds, comparable to the Lotus Elite and Porsche 356B of the same vintage.

A beautifully restored example of this model will be displayed at the Father’s Day Car Show at Mathews Park in Norwalk on Sunday, June 19th from 10AM to 3PM. It will be shown by Automotive Restorations Inc. of Stratford, Conn. as part of a celebration of the Alfa Romeo marque which is making a return to the U.S. market after a 20 year hiatus. ARI completed an extensive restoration on the car in 2015 including a new interior and body refinishing. Somehow, the Giulietta and Giulia Sprint Speciales were long overlooked by collectors. Brian Rabold, Hagerty’s Valuation Services Senior Manager, explains that the Speciales were, “long ignored by Alfisti because of their wild styling and heavier weight.” But that “Sprint Speciales came on strong in the market four years ago and values are now more than 140% higher than in 2010. Today, cars in excellent condition can cost in excess of $150,000, which could have landed 5 or 6 similar examples 10 years ago.”

Vintage race eligible: 1968 Ginetta G16/001 on track at Sebring (Photo ARI)

Vintage race eligible: 1968 Ginetta G16/001 on track at Sebring (Photo ARI)

Alongside of the Guilia SS, ARI will display a 1968 Ginetta G16 race car. The first of seven cars built by Ginetta Cars, Ltd. to compete in the European FIA 2 liter GT Championship, this car was campaigned in SCCA races on the West Coast for two seasons and then parked for the next 18 years.

In 1987, G16/001 was purchased by Trevor Needham, a well-known Ginetta racer and restorer, and returned to England where it underwent a complete rebuild. The original Coventry Climax 2 liter engine having been sold previously, the car was fitted with a period correct Lester Owen BMW M10 2 liter engine. Trevor raced G16/001 in the International Supersports Cup series in Europe from 1992-1997, taking numerous class wins.

The car was sold to its third and current owner in November, 1999 and shipped to the US where it was mechanically restored and brought up to US vintage racing standards by Vintage Racing Services of Stratford, Conn. It has been successfully raced in many events on the vintage circuit including the Monterey Historic Races, as well as winning the SVRA Group 5 and overall Endurance Championship.

Anyone interested in showing a car at this year’s Father’s Day Car Show may pre-register HERE – it’s only $10/per car to pre-register ($15 at the show entrance). Spectator admission is free. Dash plaques will be available for the first 100 cars to register.

New England Auto Museum
The New England Auto Museum will be an exciting new attraction for the state of Connecticut and throughout the Northeast. This non-profit organization will build a first class facility dedicated to preserving, interpreting and exhibiting historic automobiles and automobile artifacts. It will serve as both an educational learning center as well as a display center to highlight an ever changing evolution of car history and its impact on society. Find more information at www.neautomuseum.org

29 May

Rare Kurtis 500S on display at NEAM Father’s Day Car Show in Norwalk Sunday, June 21st

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Norwalk, CT – In December 1953, Road & Track wrote “Frank Kurtis of Glendale, California deserves full credit for being the first man in America to attempt to produce an American production sports car.” In 1956, Motor Life added “the Kurtis 500S practically owned West Coast sports car racing for a couple of years.” A 500S broke the Del Monte Forest track record by five seconds in 1954, and another was on the pole at 1955’s 12 Hours of Sebring. As the accolades mounted, Frank Kurtis earned his place in sports car history. Like all of the cars built by Kurtis, the 500S is a healthy slice of the American automotive pie.

From its beginnings in 1935, Kurtis Kraft built midget cars, quartermidgets, sprint cars, Bonneville speed record cars and USAC Championship cars. According to historian Alan Girdler, from 1950 until 1964, every winner of the Indy 500 was either built by Kurtis or directly influenced by his designs. The heritage shows in this example, as presented by Automotive Restorations Inc. of Stratford, CT; the 500S profile is pure Indy roadster. Its chassis is a classic Indy car design right down to the torsion bar suspension and quick change rear end. The build quality and details of each of the 500S models are also worthy of an Indy car, showing it was planned by a man who had done this sort of thing many times before.

kurtis2

Fewer than 30 of the 500S models were ever produced. Many like this version were sold as kits with complete chassis, wheels and suspension parts. In this instance, Cadillac motor mounts accompanied the kit when ordered by original owner Darrel W. Johnson of Ferndale, MI. Although started by Johnson, the car remained unfinished for many years until purchased by Warren Wetterlund of California, who commissioned its completion by John Wyals and noted hot rod builder Roy Brizio. As was the custom of the time, a lighter small block Chevrolet engine was substituted for the original and more powerful Caddy. Everything on the body and suspension panel layout was left as Kurtis intended for its original customer in 1956.

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Also to be featured by Automotive Restorations at the Father’s Day Car Show in Norwalk will be a race-prepared 1964 Morgan 4/4. Equipped with a 1700 Ford crossflow engine featuring twin Weber carbs and dry sump oil system, the car produces 173 horsepower. It’s fast and easy to drive with an excellent power to weight ratio and is a consistent finisher in vintage racing with only minor maintenance required during the season. A great looking vintage Morgan, this car will go head-to-head with Porsche 956’s and Jag XK’s all day long.

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The Father’s Day Car Show, sponsored by the New England Auto Museum, will be held at Norwalk’s Mathews Park, adjacent to the historic Lockwood-Mathews Mansion Museum on June 21st from 10 AM to 3 PM. Admission to the show is free, with a donation to the New England Auto Museum building fund gently suggested and appreciated. Tours of the mansion will be conducted from 12 noon to 4 PM and the next door Stepping Stones Children’s Museum will also be open for visitors of all ages. The show will feature over 100 antique, classic and a broad variety of collector cars along with food, ice cream and a chance to select your favorite car.

Story and photos courtesy Automotive Restorations Inc.