Restoring antiques as a hobby

[Mosey]

I've wanted to get into restoring antiques as a hobby for a long time. The idea is to find an antique, hopefully cheap, get it running and drivable, and paint it. I also think it would be a fun thing to do with the kids to help teach them the basics of machinery. Then I could sell it to someone to use either as decoration, take to tractor shows, or just put it to work.

The question is, can this type of hobby support itself? Can I get my money back when I sell one, or even make money (tax free cash!)? I would like to make enough to cover the cost of one to keep for myself, since a second tractor would be handy to have around. I would also like to make enough to cover the cost of buying a trailer to haul them.

 

[Anonymous Poster]

Actually, Mosey; I have been doing some looking aroiund and the awful reality is that I can BUY an antique tractor cheaper than I can "antique" one from scratch. I am AMAZED at how little money restored tractors do bring. The thing about it is this: "What does restore actually mean?" Is it a bottom-up every-bolt-and-screw-original-restro, or is it a clean-and-paint job? Every time I've made any money on a tractor in the past, it has been something with maybe ONE or TWO flaws like a broken steering box perhaps; that had excellent rubber, no rust, and was a popular sized tractor with marketable features. In that case it was a clean and fix and paint job......not too bad......and kind of fun too.

 

[Mosey]

CJDave - The level of the "restore" is a big question. I'm probably not interested in doing a complete overhaul, but more than just pressure washing and painting it. My brother picked up an old Satoh for $800 and it needed a new gear in the trans (teeth were broke off). It took months to get it, but now he has less than $1200 into it and I've see them sell for $3000 or more. I guess that's the kind of thing I'm looking for.

 

[Anonymous Poster]

I see what you mean. It's like buying houses to fix and resell, you just have to be a wise buyer and as someone said recently when asked about buying tractors as a collector/restorer: "Don't fall in love with the tractor until you OWN it." Boy, is THAT ever good advice! Mistaking availability for suitability is often a problem when we go out to look at a tractor.

 

[Soundguy]

The big problenm I see with buying / selling the antiques after restoration, is that the resale is only slightly higher than the purchase. You can usually mark up for repairs/ restoration, etc.. but if you add it up in the end... it usually turns outt hat the labor was free. Just depends on how you feel about that.

Soundguy

 

[Thomas]

Indeed thats good advice!!

I restore JD M years ago for a co worker{winter project}and he show no interest of getting his hands dirty.

About half way thru the project we made a deal.
1.I would pay for all the parts,paint,free labor.
2.If he decide to sell the JD M I got first crack at it..I deduct my cost to his asking price.

Well he sold it to one of his buddies w/out contacting me..arrr /w3tcompact/icons/sad.gif

Indeed thats good advice!!

 

[s1120]

If you want to make a little money restoring tractors, Start with a lot of money./w3tcompact/icons/smile.gif

You will not make much, if any. BUT! If you like working on things, its a real fun hobby. I love restoring things. I have an old mustang I am working on now. Will I be able to sell it for what I got into it? No way. Just doing it becouse I like it. I have an old Ford convertible thats next in line. Will not be able to make money on that also. But thats OK. I don't plan to sell eather.

Now back to tractors. Want to play around, and not lose your shirt? Start with something people are looking for, the Ford N's are a good start. Find one cheap that needs stuff you can do. Fix it up a bit, throw a coat of paint at it, and sell it for a little profet. Buy anouther one, maby a little nicer. Do a little better job on that one, sell it for a little more money. Buy anouther.....etc, etc, etc. I would stick to one model, that way you get to know it, and build up a part supply, and part sourses.Also don't roule out parts tractors. Pick up a few junk $300, $400 tractors, and the little parts you scab off of them can save you big bucks down the road. Plus, some of those junk tractors, may come with some reir, hard to find parts. So good luck, and have fun./w3tcompact/icons/smile.gif Restoring things is a great hobby, and a lot of fun. Also you get to meet a lot of good people.

 

[MikePA]

One of my older sisters and a friend were in the antique furniture restoring business. Perhaps their experience will help. Here are some of the highlights.

1. Reading classifieds looking for personal sales.
2. Reading classifieds looking for auctions.
3. Calling and visiting owners found in classifieds.
4. Attending auctions.
5. Transporting purchases.
6. Buying complete lots to get a few pieces they wanted.
7. Spending most of the rest of their free time restoring what they bought.
8. Spending the rest of their free time, buying restoration supplies.

Most of the time, they sold at a profit. Depending on the piece, a nice profit. However, if they computed what they made per hour it was less than minimum wage. If restoring tractors is the same as furniture, you will find you spend at least as much time acquiring the supplies and the tractor to be restored as you do actually doing the restoration work.

I think you'd have to go into it because you enjoy the work, it'll be a family activity, etc. and if you make some money as well, then great. If you don't make and money, that's OK too. In other words, start it as a hobby. Lots of great businesses were started because someone started doing what they enjoyed.

 

[professor]

I have restored two Oliver crawlers, one 550 Oliver and one 75 model Oliver lawn mower. I have learned three important rules in restoring:
1 The restoration will take 3 times longer than you anticipated
2. The restoration will cost 3 times more than you anticipated
3. Never Never discuss costs with wife!