Upset about a Profit Margin and Restorations! :(

Gary, You are 100% correct in your thinking, but you have to remember that the whole country is screwed up, and 180 degrees out of kilter. It is the same old story: The rich get richer, and the poor get poorer. Go to any show, and you will find people bragging about what money they have in their car. They think it makes them better than the next person. MHO

thats why i do all my own work -- its for me --its not for sale-

Gary,
I believe I understand what you are trying to say...and yes, it is price gouging. But I think the feeling behind a lot of those people willing to pay these higher prices is for ROI (return on investment). They buy the cars, they watch Barret Jackson auctions and they want to be able to do that...sell it for a profit, and they feel that if they have the "name" behind the restoration...Foose, Boyd and so on...that people who later on are interested in buying the car will then have a "justification" for the higher asking prices.

Personally I've seen some locals who can literally restore circles around the "big" names...and like you, they don't feel it necessary to hit the customer with a 40 or 50 thousand + dollar price tag. But in the same logic, the people that go to them are not looking to flip the car in a short time for profit...these are the folks who want to drive what they own.

Now there is another "reason" I've seen high prices tacked onto restorations, paint jobs, etc...sometimes the person doing it is just that damn good, and instead of telling people that they just don't have the time because of all the business, they charge a high price so that only someone really interested will still consider paying that high price, and they others will just look elsewhere...I don't agree with that, but I've seen it happen.

I don't know you personally Gary, but I've seen your posts from when you did the work for your Sisters Mustang...and I can say I was impressed...especially with the short time it seemed it took you. Now think of it this way...like Boyd and others, when they started I am sure they were like you too...worked good, charged fair, and didn't take months (or years) to do a restoration...but when they started to be recognized and more and more people came to them, or the fatefully day that a reality show producer knocked on their door...a little light that once glowed for fun and to earn a few bucks started to flare up...and it turns to profit, pure and simple. Look at Boyd...I seriously don't think he has personally done a car from start to finish in years since his name became known.

Of course, this is just my thoughts...could be completely wrong...or right on the money...who knows. But if someone really wants to get thier moneys worth, they will shop around, look around and ask around... and find the little no name fella that will charge fair and do a great job...others just prefer to go for what they see on the TV, go for that "big name" for the bragging rights and the profit later when reselling.

Anyhow, right or wrong as I may be, that is my thoughts on it.

Mike

Gary must be working out of his one car garage and not paying taxes.........

dfree- i think thats a very unfair remark toward gary

I can say this ... I restore cars for myself only ... so labor is free.

I figure since I bought it The Yellow Monster has over $35,000.00 in it.

Queenie's 67 Camaro over $20,000.00

The 54 F100 easily over $15,000.00 and it isn't even close to done.

If you save receipts it's amazing how fast things add up.

Now aside from that I am self employed ... I suck dirt, from carpet, sofas, tile and grout, I do minor flood damage restoration and repairs and spot dying etc etc.

I will be raising my prices effective tomorrow (Jan 1st) I charge what I think I am worth and I don't care what anyone else charges.

I don't advertise or solicit I just answer my phone when it rings and even though the only way anyone new finds out about me is if someone that already knows me tells them about me, it continues to ring and ring and ring.

I don't want everyone in town to call me because if they did I would not be able to do it all anyway, I just need a consistent, trusting and satisfied customer base of a few hundred of the nearly two million people here in Vegas and I can happily carry on.

I certainly don't consider myself a rip off artist, but I freely admit there are plenty of guys in my business who will do it for less and there are customers out there who call them and and keep them busy too ... and that's fine.

I don't say all that to gloat over myself ... I say it because this I America and we are free to do things for a profit and as long as folks are willing to pay for what ypou have to offer ... you will be busy.

Gary, If your staying reasonably busy and charge what you consider to be fair ... who cares

Originally Posted by deadhorse

dfree- i think thats a very unfair remark toward gary

Probably, but if he want to complain about prices being unfair he need to take all costs into consideration

Payroll Taxes, Sales Taxes, Utilities, Ect..... The biggest cause of small business failure is the failure to reconize the real cost and charge accordingly...........

You'll pay $40k for a new truck, but thats to much for a complete restoration........

I'm with Gary on this one.

We have one of those big name shops close to my home. I brought my car in for as estimate for paint.

They had no interest in my business. This is what they told me "It's just a plain 65 fastback, cars not worth the 50-60k we will charge to strip and paint it..... Now if you have some special sentimental attachment to the car and are willing to pay the 50-60k to paint it we will do it (but you will have to get in line because we have at least a nine month waiting list)"

Mr. Kitchens & I use that term Mister loosely,You are the most jealous son of a biscuit eater I have ever in 61 years had the misfortune of listening too.

A person who is as good as you say you are doesn't have to continually try to convince people that you are.You are without any doubt a legend in his own mind.

Originally Posted by Calspec

Mr. Kitchens & I use that term Mister loosely,You are the most jealous son of a biscuit eater I have ever in 61 years had the misfortune of listening too.

Calspec, you saw who the original poster was, if you dont like him, dont read his posts, or go somewhere else.
Quit trying to stir the pot. Its been fairly peacefull up until now, dont ruin it.