Should you restore your classic car before selling it?

If you’re thinking of selling your classic, and it's in need of some form of restoration, you might be wondering if it’d be easier - and get you more money - if you were to restore it first. Selling a fully-restored car might in theory get you a better return, but of course you’d need to think about the time, upfront costs and effort required to get to that point. 

Whether it’s better to sell a classic that’s been restored depends on many factors, so let’s have a look at the pros and cons of both restoring it, and also selling it as it is…

Is it better to sell it restored?

There’s a lot to think about here. It depends on the level of work involved - are they simple repairs and changes that are needed, or does it require a full restoration? What are the costs to you - is this something that you can afford to do? Also think about the length of time it will take - the restoration might take a long time and the car may be out of action for a while, so you might not be able to sell it for some time. 

Are you thinking about doing it yourself, or paying someone else to do it? The latter could soon mount up in costs. Will you get a good return in the end? To get a rough idea at least, you might want to add up what you paid for the car, plus the costs of restoration, and then look at recent sold prices for your car’s make, model, year and similar condition.

So here’s some of the likely pros for restoration:

- You might get a higher resale value (but do the sums first to check!)

- Ultimately your car is likely to have better performance (and perhaps improved safety) due to the newly replaced parts, which will likely appeal to buyers
- You might attract a bigger potential audience of buyers if it’s restored
- You get to see the process and have some satisfaction from seeing your car being restored

And here’s some of the potential cons:

- It may cost you a lot up front and there might be discontinued or rare parts to find and purchase
- If a lot of work is needed, it’s likely there won’t be a quick turnaround so there might be a delay before you can sell it
- There’s no guarantee that you will get the price you require when it’s done - which is unfortunately often out of your control.

Is it better to sell it in its current glory?

There’s a few things to consider here. One question would be - will you get a decent enough amount of money in its current state? Some people might be put off by the amount of work needed, and there might be a quicker sale if no work is required. Think about your own situation, however - you may just need the space, the money or might just want your classic to go to another good home for other reasons.

Remember that just as the market fluctuates, buyers’ needs are different too - some people want to buy a project, and some don’t.

So here are some of the potential pros of selling ‘as it is':

- You may get a quicker turnaround for the sale, as no work is needed to be completed
- It won’t cost you anything up front
- You may appeal to the DIY car lover who is looking for a project

And here are some of the potential cons:

- In some circumstances, you might find the market appeal is lower for an unrestored car
- People may try to negotiate more due to the car’s current condition, which could result in you being offered less for it than you’d like.

Now, as you can see, this isn’t an exact formula, and definitely depends on your priorities, and often the car in question. It also depends on the classic car market at the time, the demand for that make and model, and the condition even when restored (for example, the car might have a lot of miles on the clock). 

If you choose to restore your car, do get a couple of valuations first based on having the work done - and, importantly, not from the restorer doing the work! As with many car sales, regardless of the condition in which you are selling, you are just looking for the right buyer at the right time, and sometimes that comes with a little helping of luck.

Let us know your thoughts below on this topic!