38 V12 restoration cost

Posted by tbirdman On 2010/2/2 20:10:36
Friends who went to the PI show said their was a 38 V12 that won best of show. The owner was stating he spent $750K on the restoration. They were questioning why someone would spend that much when on the best day at a auction, the car may bring $300K tops.

I said, look it's done every day. We all know people who have $40K into a car worth $20K. This is just a scaled up version of that. Anyway, if I was going to spend that much on a factory made Packard, it would be a 32-34 V12 or a 37 V12. However the car I heard was exquisite though it had the dash incorrectly woodgrained which seems to me a very major defect after spending all that cash.

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