Money Maker: 1960 Austin-Healey 3000 Mk 1 BT7 Project – Sold!

Jan 2020 | Classifinds, Sports Car Saturday

Update: This one got away, but if you have your heart set on something similar, email us the details of what you’re looking for or call Rudy directly at (908)295-7330

Nearly every Austin-Healey project we come across is priced to ensure the next caretaker will lose money in their attempt to restore the car.  However, the 1960 BT7 we found on Craigslist in Orange, Virginia appears to have the potential for the next caretaker to actually make a bit of money just by getting the car roadworthy again.  The Hagerty Insurance Online Valuation Tool confirms the seller’s asking price is $400 less than the #4 “Fair” (Daily Driver) estimate of $20,900.  

Here’s our argument:  first, the seller states this is originally a western car with “minimal rust” and from the underside, pictures provided it appears to of the surface variety with no structural issues to address.  Second, the seller indicates the motor turns freely and ran one year ago.  Third, while slightly disassembled, the seller’s description and the pictures indicate you’ll be buying a complete car.  So, with Hagerty’s #3 “Good” estimate of $33,200 we would get the car back to running condition (along with a full engine detail), clean up the frame, restore the interior, re-install the exterior trim over the existing patina, and then drive and enjoy the car to every Cars & Coffee and local show we could with a “For Sale” sign on it.  The pool of potential buyers willing to pay for a mechanically sorted, patina’d example they can drive will increase dramatically.  Do you agree with our assessment?  Comment below, let us know, and good luck with the purchase!

Here’s the seller’s description:

“For your consideration is a 1960 Austin Healey 3000 BT7. The car is in unrestored condition, but would serve as an excellent platform as a driver or full restoration. The engine is free and was run approximately a year ago. The 4-speed transmission progresses through all of the gears. The interior will need to be completed, but the seat covers are in good condition if the new owner wanted a tan interior. Most of the exterior trim has been removed, but it is included with the sale of the car. The 48 spoke wire wheels are wrapped in new tires. The car came from the west, so the frame shows minimal rust and only a few areas on the body would need to be addressed.

The intention was to restore the car, but other projects warrant time and money. Instead of letting the Healey sit until it could be restored, it is being offered for sale to someone else who might like to return this car to its previous glory.

Please don’t hesitate to ask any questions.

Do you have an Austin Healey story you’d like to share?  Comment below and let us know!

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