Car collectors, Sunday drivers, and savvy shoppers looking to avoid the dramatic depreciation rates associated with brand-new cars are investing more frequently in the restorations of older models.
That’s causing a stir in the auto industry as well as on the roads, as passersby crane their necks and marvel at jewels from the past.

Dr. Bob Kirkwood, chairman of Radiology at Baystate Medical Center, hopes to put one of his family heirlooms to good use this summer, maybe even rolling over 100,000 miles in the 1966 Mercedes 250 SL he inherited.

Similarly, Kirkwood’s wife plans to tool around town in her 1984 Mercedes 450 SL all summer long. And that’s how it has always been in the Kirkwood family when it comes to their vintage cars even the original owner of the ’66 Mercedes, Dr. Kirkwood’s father, drove it to work everyday. The only reason the mileage barely crested 80,000 over 30 years was that his job was only a mile away from home.

It’s a coincidence that Dr. Kirkwood’s father and his wife’s mother each drove Mercedes and left the cars to their children. But the couple made a conscious decision after inheriting the cars to keep them on the road, enduring months without them while they were restored in order to eventually zip about in them on weekends.

They represent a growing faction of drivers: would-be car owners who are forgoing the instant gratification of driving home a brand new luxury model from the showroom floor, and instead choosing to create their own masterpiece over the course of many months.

The process could lead to a new addition to an elite collection of automobiles, or to a vehicle that will hit the streets and stay there as soon as the paint dries. But regardless of the end use, auto restoration is a labor of love that is becoming more common, and often the reasons why are as unique as the vehicles themselves.

The trend is due in part to the increased visibility and availability of a diverse set of vintage automobiles, thanks to the preponderance of such models on the Internet. But nostalgia also plays a large part in many people’s decisions to invest in the restoration of a car; some hope to create a replica of their very first car, or the automobile they dreamed about as a teenager.

And while restorations were once limited to devout car enthusiasts and collectors who would restore a vehicle but rarely drive it, that increased availability and a rich history of older, high-end automobiles from which to choose that extends all the way into the mid-1990s, is calling attention to the practice of automobile restoration, and introducing it to a more diverse set of consumers. Today many people are allocating funds to the restoration or repair of exotic, rare, vintage, or discontinued models for all kinds of use: never, rarely, or all the time.

"People are bringing in specialty and higher-end cars for restoration more than ever before," said John Robison, owner of J.E. Robison Service on Page Boulevard. in Springfield. He added that the draw of older cars and vintage automobiles is a tempting one because of the unique, creative statement they make, but is becoming more pervasive because more consumers are beginning to recognize the financial benefits of the restoration process as well.

The notion of investing in an automobile, rather than watching its value depreciate as soon as it rolls off of the lot, has emerged, said Robison, noting that the Internet is in many ways changing the dynamic when it comes to auto restoration. Indeed, the Web provides new opportunities for buyers and sellers alike, enabling people to locate the perfect car for them — and not the best car they could find through traditional means.

What’s more, Robison said restoring a vintage ride to mint condition isn’t reserved for merely the older, well-to-do set; it’s becoming a lifestyle choice for many, including Robison’s brother, best-selling author Augusten Burroughs, who, at 39, recently purchased a 1987 Rolls Royce Corniche now receiving some needed sprucing at Robison Service (see story, page 39.)

"Older, high-end cars have a lot of appeal, and we see restoration work more among the older, affluent set in Western Mass., but many younger people are getting into it, too," Robison explained. "They realize the depreciation rates of new cars, and they’re making a conscious decision to put money into an older car and to make it new again."

Economic Drivers

Still, restoration isn’t a cheap one and it’s not for everyone.

John Abrahamson, owner of Enfield Auto Restoration in Enfield, said his business specializes in some of the older, more luxurious models of vintage cars, such as Rolls Royces and Bentleys, and for an antique or rare model, a restoration could begin at $50,000 and soar to upwards of several hundred thousand dollars.

He added that "ground-up" full-scale restorations are not only costly, but time consuming for both the service establishment and the owner; the instant gratification that consumers have become accustomed to in many arenas, from purchasing a new car to having it serviced, doesn’t apply when working on a rare automobile.

"One thing people may not realize at first is we have to make a lot of replacement parts ourselves, especially for older, rare cars," he offered as an example. "There’s no parts store. If it needs a new fender, a lot of times we have to create one, and that’s also when you start getting into the high dollar figures."

Paul Larini, owner of Mechanical Restoration Services in Hardwick, Mass., agreed that the costs associated with restoration can be prohibitive for some.

"There’s a lot of emotion associated with restoring a car," he said. "Sometimes people have inherited it, or bought the same car their father drove Ö they want to restore these cars to varying degrees, but they may not realize that many times the cost of the restoration exceeds the value of the car."

Despite those lofty price tags, though, and his company’s relatively small size, Abrahamson said service requests remain robust, and Larini confirmed that he has seen service calls pick up recently.

Kirkwood concurred that were he to sell his Mercedes, the profit probably would not be huge following the restorative measures he has taken on his father’s car among them a new paint job that took a year to complete, the addition of a new fuel injection system, and a new soft-top, a step made necessary thanks to the handiwork of some discriminating chipmunks.

"To get it running right required a lot of effort," he said. "I was without the car for a long time and I wrote a lot of checks. But I definitely haven’t thrown any money away."

Robison explained that costs are accrued over time when maintaining a vintage car, and as a vehicle goes through a transformation determined by the buyer. Although Kirkwood said his car is "running like a gem," his work isn’t done the interior is the next task he’ll have to address.

But the virtual marketplace has made restoration simpler and more affordable in some respects. Robison said the increasing predominance of Internet-based car and parts sales among car dealers, private owners, and auction sites like eBay have presented more options to consumers in the restoration arena. When initially searching for the car or the replacement part they want, he explained, buyers can often save on the purchase price, reserving those savings for more-extensive restoration.

Now, he said, buyers can purchase a car from virtually anywhere in the world on their own, often at a lower price than if they had gone through a dealership. That, coupled with the fact that restoration often increases the value of a car, helps to left the costs associated with the investment for many people, although those costs are high.

"It’s all relative," he said. "Restoration is definitely expensive, and it’s time-consuming. But compared to the cost of buying a new car, which will only decrease in value, the cost makes sense. It’s like buying an old house Ö the dollars are spent making it more valuable."

Robison added that the accessibility the Internet provides is also driving the initial cost of vehicles down as it eliminates the need for consumers to employ the services of retail establishments in order to compare models before buying.

"Search engines have made everyone an expert," he said. "A buyer has more power than ever before. Anyone can find a Porsche 911 or a Range Rover by themselves now, and probably pay not much more than wholesale. A car that might be $35,000 at a dealer and $25,000 through an auto auction could be $28,000 on eBay, so essentially we’re operating in an environment of reduced margins.

"That was unheard of three years ago," he continued. "My business has always been stable, but now I have high-end cars arriving on my doorstep in a steady stream. People can also buy faster and they aren’t limited to any one geographic area, and my business is seeing the direct effects of that."

Restoring Faith

The restoration aspect of Robison’s business (he also sells rare, restored, and exotic cars) has grown exponentially in the last two years, and the rate of restoration jobs on high-end models made by Mercedes, Jaguar, BMW, Range Rover, and Rolls Royce is higher than it has ever been in Robison’s 20 years in business.

And the shift in the industry can be seen on Western Mass. roads. Just a few years ago, he said, only a handful of people had notable, recognizable cars in their garages the late Peter Picknelly, for instance, was famous for driving down Boland Way in one of his vintage Rolls Royces. But now, Robison said, drivers should expect to crane their necks just a little more often as a fully-restored Rolls, Jag, or Benz zooms by.

"I’m seeing a lot more high-end or exotic cars on the roads," he commented. "The market has expanded to the point that I notice these cars out and about."

The restoration requests he fields range from work on hard-to-find vehicles that have a sort of cult following, like Porsches and Jaguars, to vehicles that are no longer produced but are still relatively simple to find, such as some older model Land Rovers.

And while nostalgia plays a part in the restoration craze, some consumers are taking that route because they are more concerned with the comfort, smoothness, and overall longevity of a car, rather than its high-tech gadgetry, and are gravitating toward older models with just such qualities.

"Some people are put off by the level of computerization in today’s cars," Robison said. "More and more, we are seeing a fundamental misalignment between the desires of car manufacturers and car buyers. The new, high-end models are being designed by the best and the brightest to be the next great thing, but often a car buyer is more concerned with how smooth the car drives or the overall feel."

Robison cited newer models put on the market by Mercedes in recent years that have dropped in the J.D. Power consumer satisfaction ratings, despite their bells and whistles. Older model Mercedes though, from those popular in the 1960s all the way up the early 1990s, are still regarded by auto aficionados as some of the best cars on the road.

"Those cars are very sophisticated," Robison said, "and their level of reliability is better in some ways."

He added that as technology moves forward in the automobile industry, many consumers will stick to what they know, even when shopping for a higher-end model. The more gadgets a car has, Robison said simply, the more there is to break.

"In many people’s minds, technology in cars has moved too far too fast for them," he continued. "With so many computerized aspects, cars now run the danger of crashing, literally and figuratively."

Sweet Little ’66

Kirkwood agreed that his Sunday drives are made that much more enjoyable by the reliable, smooth, uncomplicated nature of his 1966 Mercedes. He added that the continued attention to the car’s quality will keep it ready for his daughter, who said she’s interested in taking over responsibility for the car later on in life.

"So we’re keeping it in the family," he said, "But mainly, I enjoy driving around in it. This car is fun."

Jaclyn Stevenson can be reached at stevenson@businesswest.com