Restomods are a reasonably new category to classic cars and many people are curious about what they are worth. I did extensive research and thought I would share my findings.
So, what is a restomod worth? First, we assume the classic car has a quality restoration and so the only variables left to determine worth is how rare the car is and how many and what type of modifications have been. Without taking rarity into account, the amount a restomod is worth varies but is generally between $50,000 -$75,000 for an entry-level restomod, $150,000-$200,000 for a mid-grade restomod, while a completely custom restomod can be worth over $500,000. Rarity is another factor used to determine worth. Simply put, there are so many variables to subjectively give the “worth” of a rare restomod, let alone one with any level of professional modification/customization. However, it’s more than safe to say the worth of a professionally built restomod easily soars well over $1,000,0000.
Restomod worth is a fun topic to discuss and research as this hobby doesn’t lack for enthusiasm amongst its participants. The variety, complexity, and scale of restomods are really unbelievable and one of the reasons I enjoy them so much.
Feel free to peruse our article, What Is A Restomod, for detailed information on Restomods.
Restomod Worth – A Detailed Analysis
Restoration Review – Let’s Make Sure To Speak The Same Language
- Acquisition Cost. When determining the worth of a restomod its history is important. Was the vehicle found as a rust bucket and then improved upon? Was the vehicle purchased as a finished restored vehicle? Or, was it somewhere in the middle.
The vehicle’s history matters because worth is always based on some level of investment. Yes, the free market dictates worth and there are always some hardships that affect sellers. But, a willing buy and a willing seller are required for a normal buy/sell transaction to occur. This is why we spend time on it. Not only will a seller have an emotional tie to the process if he built it from scratch. But, the vehicle could be more valuable to the buyer knowing the seller oversaw the entire process. - Restoration. Generally speaking, there are two types of restoration:
- Frame On – In this approach, the restorer will redo the body, paint, motor, interior and trunk. In most cases, only the parts that need attention will be replaced.
- Frame Off – In this scenario, the restorer takes the entire body off the car. Next, he examines the frame and all parts will be re-conditioned, replaced, or repainted. A frame-off restoration is fairly easy to tell as most parts will be freshly painted or powder coated.
- Frame On – In this approach, the restorer will redo the body, paint, motor, interior and trunk. In most cases, only the parts that need attention will be replaced.
Remember, for this discussion around worth, we are assuming the vehicle has had a frame-off restoration. So, at this point, the car will have to be in above average condition and in very good working order – commonly called “sorted.” In other words, there is a blank canvas for someone to add the modifications they deem appropriate with time and money being the only restraints.
The worth of a typical restomod, at this point in the process, is about $50,000 to $75,000. A search for a restomods worth can be conducted quickly using a site like eBay Classic Cars. Start by putting restomod as a search term and you will get the search results quickly.
Typical Modifications That Affect A Restomods Worth
Safety
- Improved seatbelts. One of the better improvements you can make is also one of the simplest: seat belts. According to the National Highway Traffic Safety Administration, seat belts are the most effective way to save lives and reduce injuries in a crash. They’re also relatively easy to install, and they can often be hidden during car shows if you don’t want to ruin the original look of your car. While a three-point belt will offer you the most safety, an old school lap belt is still better than nothing.
- Stronger frames. The modern chassis design provides classic cars with a level of chassis rigidity, suspension sophistication, steering response, braking capability, and tire compatibility that absolutely improves the safety. Driving on a chassis of fifty years old, or more, is a risky proposition.
- Braking. Brakes are arguably the most important part of any vehicle and a restomod is no different. Most cars today have front disc brakes and rear drum brakes while others have disc brakes. There are pros and cons to each given our high-performance engine. However, the concern is that drum brakes may experience brake fading and wear over time. The end result of this is the car will pull to one side. So, for cost estimation, we assume the installation of a complete disc brake system. This will stop the vehicle faster and make the car more safe to drive.
- Tires. Traditional tires on many classics lack the stopping, steering, cornering, traction and mileage-enhancing prowess of today’s radial-ply tires so tire improvements will be made.
- Electronics.
- Headlights always come to mind when thinking about safety. The sealed-beam units on older cars don’t throw as much light as the later halogen headlights, or the high-intensity discharge (HID, aka xenon) lights.
- Backup Cameras. Not all fans of classic cars like backup cameras. Sometimes drivers start to think they don’t have to look around before backing, the argument goes. An article from the USA Today speaks to the danger back up accidents pose. Moreover, Federal regulations say that all new vehicles must have back-up cameras starting in May 2018.
Performance
- High-performance engine. There is nothing like the roar of an engine and a restomod needs a high-performance engine. For some people, that may mean 300 horsepower. Other people may utilize a crate engine with twin-turbos. For this reason, the engine is a major consideration of worth when evaluating a restomod. It’s entirely possible to have $50,000-$70,000 invested in the engine alone.
- High-performance transmission. A high-performance engine needs to be accompanied by a capable transmission. Luckily, there is no shortage of those in the aftermarket. In addition, there are also plenty of aftermarket rear ends.
Drivability
- Modern V8 with fuel injection, overdrive transmission, unleaded gas, and better wheels and tires all contribute to better fuel economy.
- Structural enhancements to frame. The upgraded chassis allows for the ride and handling qualities that most people are expecting when they assess the value of a restomod.
- Rack and pinion steering. Replacing the entire steering mechanism with a version of modern rack-and-pinion power steering is common in a restomod. That’ll give you better control and minimize driver fatigue.
- Air conditioning. A modern air conditioning system is commonplace in a restomod or daily driver.
- Reliable engines. The ability to get into a classic car with a modern engine, say an LS Engine from Chevrolet, and drive from the East to the West coast describes the allure of a restomod. In addition, it also affects how a buyer or appraiser will assess the worth of it. Variables here will include: did you install a low mile used motor, did you purchase a brand new crate motor, who tuned the motor, etc…?
So, the worth of a typical restomod at this point in time, after we have acquired it and made our modifications, as we said above, is about $125,000 to $150,000. A search for a restomods worth can be conducted quickly. Sites like eBay Classic Cars and others (just put in restomod as a search term).
How Do We Deal With The Elusive “Rarity” Variable?
Quite candidly, for the sake of this discussion, we won’t deal with rarity. True numbers matching AND rare cars are out of bounds for the evaluation of worth. For one thing, there are so many different models and options its simply too large of a question to ask and we’d need to be much more specific.
There is another reason why I chose not to let this variable affect the worth of the car. The reason being is these rare and/or numbers-matching cars are already in a class by themselves and modifying them would not only ruin a piece of history, it just probably wouldn’t be a very wise decision financially.
But, “we are supposed to do what the client wants” (if you build restomods) or “it’s my car and I can do with it what I want.” Ok, both are true and the great thing about this hobby is there is no real right or wrong answers. But, since this is my blog, I simply can’t advocate restomodding a rare car. I see the value of and appreciate a restomod as much as anyone, truly I do. However, this is really the only time I take this position.
All That Said, How Do We Get The Worth Of A Restomod To ~$500,000 Then?
Ok, I get it. You want more information about how we get from a ~$150,000 restomod to those on the higher end. Luckily, this is one of my favorite things to talk about in the world as I love incredible and professionally built restomods. I’ve spent WAY too much time researching the value and sales prices of restomods but here is just a small sampling of the results:
Auction Sites
In an article titled, “The Rise of Restomods,” Barrett-Jackson Chairman and CEO Craig Jackson cites the growing demand for professionally built restomods. A prime example was a multiple award-winning 1971 Plymouth HEMI ’Cuda. This was built by Alan Johnson of Johnson’s Hot Rod Shop in Alabama that sold for $588,500 way back in 2007. Other professionally built Resto-Mods that have made their mark at Barrett-Jackson auctions include:
- 1958 Chevrolet Corvette Custom Convertible (Scottsdale 2011) $440,000
- 1938 Lincoln Zephyr V12 Coupe Street Rod (Scottsdale 2004 $440,000
- 1936 Cadillac Custom Convertible (Scottsdale 2015) $440,000
- 1963 Chevrolet Corvette Split-Window Custom Coupe (Scottsdale 2019) – $385,000
- 1955 Chevrolet Bel Air Custom Convertible (Scottsdale 2019) $363,000
Professional “Custom” Restomod Builders
Restomod Academy Video Gallery
Click Here to Visit The Restomod Academy Video Gallery on YouTube To See More Professional Builds
What Makes It A Classic Car Restmod Anyway?
I get this question from a lot of people. How old does the vehicle have to be in order to be considered a classic car? The answer is rather straightforward, 20 years.
Great, Now What Increases Value?
We already discussed how rarity affects the value or worth of a restomod. But, there are a few other things as follows:
- Condition
- Popularity
- Quality of the model
At the end of the day, a restomods worth is based on a combination of the factors listed above. In other words, a limited production luxury vehicle in great condition can be exceptionally valuable. A highly popular, less expensive vehicle where only a few are left can also be very valuable. By the same token, an extremely rare vehicle in rough condition could also be of great value.
Interview with Two Leading Authorities of Restomod Worth
An article I read of great interest was one that featured Craig Jackson, of Barrett Jackson Auctions and Tim Fleming at Kelly Blue Book. They gave author Kyle Lacey a lot of valuable perspective in their interview. Here are the highlights:
Is Paint Only Surface Deep, Or Does A Splash Of Color Do More?
“FOR MANY YEARS, CUSTOM CARS STRUGGLED TO BRING TOP DOLLAR,” CRAIG EXPLAINED. “WE’VE SEEN CORVETTES THAT ARE NUMBERS MATCHING AND MAYBE NOT THE ULTRA-RAREST, BUT A DESIRABLE CAR NONETHELESS, BE OUTPERFORMED BY A RELATIVELY SIMPLE RESTOMOD. I WOULD ALSO SUGGEST THAT MY 1961 CHEVROLET IMPALA BUBBLE TOP BUILT BY BOYD CODDINGTON – WHICH IS CONSIDERED BY MANY AS ONE OF THE MOST EXOTIC CUSTOM, CLASSIC CHEVROLETS IN THE WORLD – WOULD BE WORTH MORE THAN A BARN-FIND BUBBLE TOP.”
CRAIG JACKSON, BARRET JACKSON
“Many options enhance the value of a vehicle, especially technological improvements that haven’t been widely adopted across the industry just yet,” Tim explained. “Over time, as these options become more prevalent across all makes/models, the value of these options declines, as we’ve seen with A/C, power windows, ABS, and numerous other features. This will be true of many features being added to vehicles today, many of which are safety-focused, such as rear-view cameras and automatic emergency braking.”
TIM FLEMING, KELLY BLUE BOOK
Is There Added Value By Loading Up Options?
“The collector car market continues to evolve. Many new people are coming into it, and the rules from 50 years ago don’t really apply today.” Craig explained. “ Again, it really depends on the buyer’s preference as to how much of the original components are intact or have been upgraded. So many collectors today want the convenience of modern technology and performance. They love the look and feel of a vintage car, but have also been conditioned to appreciate contemporary high-tech vehicles.”
CRAIG JACKSON, BARRET JACKSON
“Many options enhance the value of a vehicle, especially technological improvements that haven’t been widely adopted across the industry just yet,” Tim explained. “Over time, as these options become more prevalent across all makes/models, the value of these options declines, as we’ve seen with A/C, power windows, ABS, and numerous other features. This will be true of many features being added to vehicles today, many of which are safety-focused, such as rear-view cameras and automatic emergency braking.”
TIM FLEMING, KELLY BLUE BOOK
Value of wheels and tires?
“Unless the wheels are the original equipment that was on the car when it rolled off the production line, it usually doesn’t matter,” Craig explained. “Wheels and tires are both easy to upgrade or switch out. Plus, it’s getting to be almost impossible to buy high-performance versions of the original tire sizes. So instead of putting 15-inch radials on a car, many prefer to go to 17-, 18- or even 19-inch performance rubber. Ultimately, if you want to make upgrades, just keep the originals.”
CRAIG JACKSON, BARRET JACKSON
“We see a lot of data here, and it indicates wheel size has a more substantial impact on the value of a vehicle than the style of the wheel. Of course, better tires should be more valuable than discount ones, but being a wear item, their added value will be limited in many cases.”
TIM FLEMING, KELLY BLUE BOOK
How Do We Feel About Upholstery, Stereo Equipment, And Drivetrain Upgrades?
“I’m not an advocate for modifications unless you’re going for a full custom to change dash and everything,” Craig detailed. “If tastefully done, these can be very popular. The most important factors are incorporating moderate technology. Tablets, sound systems, and wireless charging are often the driving force behind these alterations. More comfortable seats are no longer the biggest reason interiors are upgraded.”
CRAIG JACKSON, BARRETT JACKSON
In general, yes,” Tim explained. “It varies depending on the class of the car, but a premium audio system from a name brand is generally worth a couple of hundred dollars on a 3-year-old vehicle. This value will diminish as the vehicle ages.”
TIM FLEMING, KELLY BLUE BOOK
Ridler Award Vehicles
In 1964, the Detroit Autorama’s highest honor, The Don Ridler Memorial Award was established, to honor the memory of the show’s earliest promoter. He was also the individual who really got the show off the ground and helped create the long-lasting legacy the event now enjoys. Ridler vehicles are at a completely different level and can cost several million dollars.
Related Questions
First, we assume the classic car is in very poor condition and the following areas will be completely restored and modernized: interior, exterior, suspension, brakes, engine, fuel system, electrical, and exhaust system. The cost to build a restomod varies but is generally between $90,000-140,000.
Pro touring refers to a kind of classic muscle car that has been fundamentally enhanced to either meet –– or quite often surpass –– the performance standards of a modern performance vehicle. Restomod is an approach that involves restoring a classic car so that most –– or all –– of its esthetics match the original version, but significant high-performance upgrades have been made to the engine, transmission, and other systems and parts.
Pro touring refers to a kind of classic muscle car that has been fundamentally enhanced to either meet –– or quite often surpass –– the performance standards of a modern performance vehicle.
A restomod is a classic car that has been restored and modified. Not surprisingly, the term restomod raises plenty of questions and opinions about classic cars, restorations, and modifications. In a nutshell, a restomod is a combination of the words “restored” and “modified” and is a seamless combination of both the old and new.
