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Keith’s Blog: Revenge of the Classic Cars

Keith Martin

SCM’s lovely, low-miles original 1971 Jaguar E-type V12 coupe has gone to a new home. On BaT, it sold for $52,763.  I thought this was a good value, especially considering the recent decline in the classic British sports car market.

Speaking of… if you ever wanted a Big Healey, now is your chance. I’ve seen some very nice examples sell for half of what they were bringing a year or two ago.

The Jaguar was exceptionally kind to our pocketbook. We put 10,000 miles on it and racked up just $7,000 in maintenance and repair costs.

However, the other cars in our collection are taking away what the Jag gave.

In the last 30 days, here is the baby bundle of invoices I have found wrapped in swaddling blankets in my inbox.

My son Bradley’s Gen-Z daily driver 1998 Volvo V70 wagon got a massive  tune-up, cost: $3,500. (Cost of car: $3,000.)

Our 14,000-mile, automatic 1991 Alfa Romeo S4 Spider’s convertible top window split after being stored in the cold outdoors for the first time in its life. That cost $2,000 to repair. (Value of car: $15,000.)

At the same time, the passenger’s side power window failed. This is common, as the factory cable is too thin. When I had the driver’s side cable replaced with an aftermarket fix, I should have had the passenger window done too. Let’s call this $500, all-in.

The newest surprise came from our newest car. I purchased the 2005 Porsche 911 C4S, with 72,000 miles, the week before for $32,550.

On the way to a local Porsche club tour, we picked up a nail. The tire deflated and before we could get off the highway, the sidewall was destroyed. Luckily there was a Les Schwab shop nearby. We bought a pair of Michelin Pilot Sport Cup 2 tires, size 295/30ZR18, for $1,513.94. Yikes!

So the total in Jag repairs over five years was $7,000. And the Alfa, Volvo and Porsche repairs have cost $7,513.94 in the last 30 days. I’m sure there is a lesson to be learned here, but I’m not sure I’m in the right mood right now.

Would you have delayed fixing anything? Put tape on the Alfa window? Leave the passenger window halfway down? Buy a single no-name Chinese-made tire for the 911? Not have given the Volvo the major service it needed?

I guess owning old cars means you are always going to be making a series of choices, not “if” choices but “when.” I dodged a bullet for five years with the Jag, and now the classic car gods are having their way with me.

Will the next 30 days see another $7,000 in repairs? (Did I mention the IMS bearing in the 911 has not yet been serviced?) What are your suggestions about my path forward?

One of them needs a new top
Lets me keep my money in MY pocket
First service cost as much as the car
$1500 for a pair of tires

Read my previous blog posts here.

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Keith Martin Avatar
Keith Martin
Keith Martin has been involved with the collector car hobby for more than 40 years. As a writer, publisher, television commentator and enthusiast, he is constantly on the go, meeting collectors and getting involved in their activities throughout the world. He is the founder and publisher of the monthly Sports Car Market, now in its 37th year. Keith has written for the New York Times, Automobile, AutoWeek, Road & Track and other publications, has been an emcee for numerous concours, and had his own show, “What’s My Car Worth,” shown on Velocity. He has received many honors, including the Lee Iacocca Award, the Edward Herrmann Award, was inducted into the Concorso Italiano Hall of Fame, and more. He has served on the board of directors of The LeMay Museum and Oregon Ballet Theater, and was formerly the chair of the board of the Meguiar’s Award.

15 responses to “Keith’s Blog: Revenge of the Classic Cars”

  1. Bob FitzSimons Avatar
    Bob FitzSimons

    In the words of Hyman Roth, This is the [hobby] we have chosen.

    I figure a Godfather reference is safer than the various ways of saying BEAUTY COMES AT A COST, many of which will get you canceled or slapped. Or a chance to see how comfortable the sofa is.

    Reply
  2. Joe Sweeney Avatar
    Joe Sweeney

    I, like you, would have attended to all. What surprises me is the $1500 for the two 18″ at Les Schwab. I understand getting caught in an emergency situation but owning Porsches myself and having managed tire stores for the majors in my 20’s and early 30’s, I am sure Discount Tire would have been in the $800 range the same Pilot Sports.

    Reply
  3. Leslie Roberts Avatar
    Leslie Roberts

    I hope the $2000 on the Alfa was for a whole new top? I probably would have done the Porsche and Alfa repairs. On the other hand, my 2001 750iL Sport has been lurching around with a suboptimal transmission because it warms up and smooths out, and the new transmission costs $8000 when I last quoted it, probably much more now, if it’s even available. I’ve put nearly 30k miles on it in the last 10 years and it hasn’t quit completely yet. So I might not have done ALL the Volvo repairs.

    I do occasionally wonder what the 750iL driving experience would be like with a perfectly working transmission.

    Reply
  4. Bob Banks Avatar
    Bob Banks

    On the Porsche, your magazine across all sections of it has regularly and strongly recommended (1) not buying a 2005 Porsche 911 without the IMS bearing already fixed and (2) if you do, get it fixed immediately as it only costs about $3k to do. So I would suggest getting the IMS bearing fixed. As to its tires, while I realize you were in a bind it is a bit surprising to me that you would buy Cup 2s. They are racing tires adapted for the street with a soft compound and minimal grooving. Through my C7 and C8 Corvette experience I can tell you that people report they only last about 4,000-5,000 with regular driving. Since I doubt you plan to race the car, I would have suggested getting a full set of four Michelin all season Pilot Sports which would have cost not much more than what you spent on two Cup 2s (available at Costco, too). They handle almost as well as the summer Pilot Sports, last a long time and you don’t have to worry about getting caught in the rain as you do with Cup 2s. While not everyone agrees, I would also recommend run flats. I put all season Pilot Sport run flats on my C7 Z06 when I replaced the OEM Pilot Sport summer only run flats, and I have had runflats on all my BMWs for 20 years. Run flats have saved my bacon a couple of times (I like bacon) and I don’t find the ride bad at all. Do these things and you will enjoy the Porsche a long time–I loved my old C4 911 for many miles. As to the Alfa, if it were mine I would fix the things that need fixing and enjoy the car; that is the approach I took over many years with my ’67 Healey, Pantera, 308, several E Jags, and others. As noted above, this is the hobby we have chosen and old cars need fixing regularly to be enjoyed regularly. Just my $.02.–Bob

    Reply
    1. RJ Wilmoth Avatar
      RJ Wilmoth

      Total agree with the Michelin all season Pilot Sports for every day driving. I’ve used these on 968, 928GTS and 997 C4. They will go on the 991 I picked up last year when it needs tires. I love getting 35000 miles on a 911 rear tires! And the 500 tread wear rating.

      Reply
  5. Captain Dave Avatar
    Captain Dave

    You can look at it as “the repair cost x% of the value of the whole car!” or you can look at it as “for x I keep a car on the road vs. replacing it at 3x, 5x 10x, whatever.”

    Reply
  6. Ace Dunn Avatar
    Ace Dunn

    As my Mom would say:”If you want to drive like a sport, you have to pay like a sport.”

    Reply
  7. David Andersen Avatar
    David Andersen

    The old saying “ya pays yer money, ya takes yer chances” applies when buying a collector car. Once you own it, it’s “ya don’t pays yer money, ya takes yer chances.”

    Reply
  8. Hurdle Jim Avatar
    Hurdle Jim

    I was an economist in real life. You have given a short answer to a real life question. Keith has been dealing with the trade off between the utility (satisfaction of ownership) versus a budget constraint (amount to commit from total income). Keith is coping with the question of enjoyment now that age and physical imbalances have intruded into the hobby. Establish a budget limit in your mind and enjoy yourself with the hobby as you I don’t see tee budget issues bbing a real versus your ongoing professional and personal interest in owning and using old cars.

    Reply
  9. Scott Crater Avatar
    Scott Crater

    A new 911 I think starts at $120k these days, so there is that. All the tire advice above is good, especially about the all season pilot sports. I would have put off the alfa top repair, just because.
    Life with old cars…you win some and you lose some. Mostly lose.

    Reply
  10. anatoly arutunoff Avatar
    anatoly arutunoff

    years ago, ‘slime’ got an engineering award for their product. you put it in the tire when it is mounted and it’s self-sealing for a long long time–or so they say!

    Reply
  11. David Hay Avatar
    David Hay

    Another vote for Michelin Pilot Sport A/S tires. Live in the PNW and need always to be prepared for wet conditions. Right now have these tires on an ’03 S55, ’86 911 and ’88 928. Good treadwear and great performance!

    Reply
  12. Lilly Avatar
    Lilly

    Get the IMS bearing done at a reputable Porsche shop. This could come back to haunt you if it fails.
    Many 2000- 2006 owners have gotten this repair completed when the bearings started to fail, as reported by owners and service shops. Porsche was very transparent with the IMS failing way back in the model year 2000, continuing to 2006. And many savvy buyers won’t consider a car based upon the service not being completed as they know they are in for a costly repair.

    Reply
    1. Keith Martin Avatar
      Keith Martin

      You are absolutely correct. I factored in $4000 when made my offer to buy this car. There is no question the IMS is a grenade with a when, not an if attached.

      I wish I had more time to research my tire options before I pulled the trigger but I was in a tire shop parking lot with a nail in my sidewalk. It wasn’t the best time to ask if I could call around to get a better price on tires.

      Thanks for your note. Always good to hear from you. Big congrats on being Chief Judge at Hilton Head.

      Reply
      1. Lilly Avatar
        Lilly

        Thank you!
        Being Chief Judge has been a honor.
        Thank you for being a part of this Travel.

        Reply

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