Well the $40k in receipts could certainly be legit. Doesn't mean that it's worth that, but I didn't really get the impression that the seller was trying to say that it was either.
If the guy bought a 67 Malibu "runner" from Craigs-list or EBAY for, say, $5000-7500 or so then started having work done on it at a shop the $$$ could certainly add up quickly.
- Paint/body = $10-15k
- Engine/tranny (EFI/700R4)+ installation = $10-12k
- Drivetrain/suspension/brakes, ect... $6-8k
- Interior???
- Tires/wheels???
Paying someone else to source and install all the parts, plus a likely retail mark-up on the price of the parts on top if labor.
Labor is usually twice the cost of the parts, so ya, it can really add up at the bottom line.
Sad but true. In the end it's probably going to be a $15-18k Chevelle when it comes down to it, in spite of all the money spent by the owner.
If the guy bought a 67 Malibu "runner" from Craigs-list or EBAY for, say, $5000-7500 or so then started having work done on it at a shop the $$$ could certainly add up quickly.
- Paint/body = $10-15k
- Engine/tranny (EFI/700R4)+ installation = $10-12k
- Drivetrain/suspension/brakes, ect... $6-8k
- Interior???
- Tires/wheels???
Paying someone else to source and install all the parts, plus a likely retail mark-up on the price of the parts on top if labor.
Labor is usually twice the cost of the parts, so ya, it can really add up at the bottom line.
Sad but true. In the end it's probably going to be a $15-18k Chevelle when it comes down to it, in spite of all the money spent by the owner.
