Honda-SOHC
SOHC.co.uk Forums => CB500/550 => Topic started by: philward on April 17, 2021, 09:13:55 PM
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Having just completed the total rebuild of my 500k2 (just waiting for DVLA registration) and after I finish a rebuild, I put together a rebuild record of receipts and photo album of the rebuild.
Thought I'd share the results for your interest.
Added up all the receipts and here are the results:-
Engine rebuild parts - £801.73
Total parts (inc engine) and tank/side panel paint labour/clock refurb (Peter Horton) - £5822.71
Bike cost - £1,320
Hence total £7,142.71!
And thats me doing everything myself except the tank/side panel paint and clock refurb. So imagine what the cost would be if I farmed out engine rebuild, ultra sonic cleaning, zinc plating, frame/etc paint, polishing, etc, etc
Its a good job I enjoy resto's as I would struggle to get my money back (its a keeper anyway).
Having a break from back to original resto's - and the above is the main reason as I retire next month.
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You probably have £1500 just in the exhausts. Surprising how quickly it adds up. When you buy the bike it always looks like it will be a quick cheap build and then the perfectionist kicks in. Fortunately I have always managed to do them for a fair bit less than they are worth. Enjoy the retirement.
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My current 400 rebuild Costs are £2900 so with purchase price I am at £4900. I estimate another £500 will cover everything except my new wheels! That said last year I would have spent a similar amount on eating out & weekend breaks. I am enjoying the challenge & working on my bike. When it has been finished yes if I sold it I would not recoup my costs but there will be a residual value and something I have enjoyed doing - I can also go out for a ride on a nice summers day. I am not running a business its a retirement hobby. If its all done by early 2022 I can always start again.
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My current 400 rebuild Costs are £2900 so with purchase price I am at £4900. I estimate another £500 will cover everything except my new wheels! That said last year I would have spent a similar amount on eating out & weekend breaks. I am enjoying the challenge & working on my bike. When it has been finished yes if I sold it I would not recoup my costs but there will be a residual value and something I have enjoyed doing - I can also go out for a ride on a nice summers day. I am not running a business its a retirement hobby. If its all done by early 2022 I can always start again.
Absolutely Ted - I've built several bikes in a similar situation over the last 10 years. I too do it for the personal satisfaction of turning a wreck into something as new and when my bikes are finished, I know they are right (which you don't know when buying one for the similar money). I only posted for the interest and debate
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Ted we are definitely not in it for the money! If that’s your total costs you have gotten off lightly. Then again it does of course depends how much restoring it requires in terms of parts etc. I’m currently restoring (although not much this last while) a 750k3. I’m already in that at about £4500 for bike and parts. Maybe another grand might hold it in (wishful thinking) 😂😂😂
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Ted we are definitely not in it for the money! If that’s your total costs you have gotten off lightly. Then again it does of course depends how much restoring it requires in terms of parts etc. I’m currently restoring (although not much this last while) a 750k3. I’m already in that at about £4500 for bike and parts. Maybe another grand might hold it in (wishful thinking) 😂😂😂
I have been fortunate that the bike is not as bad as I feared it might be - BUT this is an expensive BUT it will not be completely original /concourse when it's done but it will be well tidy I hope.
I think it would be much costlier if I went the extra distance. A sort of diminishing returns situation - perfection is expensive in time & money but beatiful to behold. As this is my first so as to speak I am at the beginning of my addiction curve - it can only get worse I suspect.
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My current 400 rebuild Costs are £2900 so with purchase price I am at £4900. I estimate another £500 will cover everything except my new wheels! That said last year I would have spent a similar amount on eating out & weekend breaks. I am enjoying the challenge & working on my bike. When it has been finished yes if I sold it I would not recoup my costs but there will be a residual value and something I have enjoyed doing - I can also go out for a ride on a nice summers day. I am not running a business its a retirement hobby. If its all done by early 2022 I can always start again.
Absolutely Ted - I've built several bikes in a similar situation over the last 10 years. I too do it for the personal satisfaction of turning a wreck into something as new and when my bikes are finished, I know they are right (which you don't know when buying one for the similar money). I only posted for the interest and debate
I agree with your comments completely - the debate going on in my head is part self justification cost v mental benefits - part knowing I am not alone in wanting a goal that challenges my abilities. Tbh for me a combination of Covid Lock Down focusing my thoughts into anything aside from how very old I have felt recently - it has been a real tonic for my psychological well being. Interestingly a neighbour of mine who has terminal cancer (his prognosis is 12-18 months max) has taken a leaf from my book - he has started doing restoration work on small old wooden items - he started with an 1890/1900 tea caddy - now he is restoring a writing slope that is circa 1850's.
I am finding my thinking time is starting to be way longer than my doing time especially as most of my strip down work has essentially been done. I suspect the actual rebuild time scale will be more difficult to manage than the fiscal aspect - thank goodness I don't need to complete it to go to work on next week! lol
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I've got mates that spend 1000s on a foreign holiday. After a fortnight it's gone. Good memories but it's over with. A restored motorbike will give many years of pleasure and a sense of pride and achievement and, the cost will only t appreciate with time.
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I think you did well at that cost Phil. Anyway, you can't put a price on the pleasure you will get from owning and riding that lovely bike.
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I've got mates that spend 1000s on a foreign holiday. After a fortnight it's gone. Good memories but it's over with. A restored motorbike will give many years of pleasure and a sense of pride and achievement and, the cost will only t appreciate with time.
Couldn't agree more. My workmate has just dished out 7k for 2 weeks in the Maldives at the end of this year. Now for me that would be a heart breaking waste of money. He has no hobbies really, but if all your interested in is holidays you could have gone away three times for that amount.
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Very interesting post Phil and some great observations from the others,
There was a time years back when I did do it for pocket money to buy or finish another project - they were usually cosmetically challenged write offs when Nick at West Coast was trading. My £200 350/4 came from him, as did the GL1500SE, both of which I still have. I was also very fortunate to have bought stuff from DS when prices were very low - 400/4 complete exhaust/silencer system for £150 and a genuine 333 system for the 350 - £75 each pipe. Now that prices have gone through the roof (£75 for a 400/4 clutch cable guide!) I doubt than any of us are in it for the money anymore - not for a complete restoration anyway.
As previously said, the psychological benefits of our hobby during lockdown(s) cannot be underestimated and as said, we still have the result to admire. A relative of mine was into Porsches and he hankered after a particular 'special edition', one came up and he lost £10k on the previous one in 1 year. The replacement has also gone but he won't say what he lost on that one!
Also I don't think there's much Covid in my shed, and don't feel inclined to jump on a plane to risk catching it and spend money for a fortnight in the sun.
Ian
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My project was very definitely a therapy thing. I was suffering from depression and I needed something to focus my mind and give me something positive that I could spend my time on. Failing that....I picked up an old 750-4
Cost was not something I was really focused on as the big spends would happen when I could afford them, and the small things were perfect for those birthday/christmas gift ideas from relatives who have no idea what to buy for me. Don;t get me socks.....get me a brake rebuild kit! Forget the Christmas jumper and buy me an oil seal kit..... my Christmas gift idea list became a part number list :)
I'm taking my time...spending as little as possible...but there are lots of places where time can be used instead of money.
What scares me, though, is what happens when I am done. You old hands know what happens next. Another project happens next.... and incidentally...I would love to restore an old 70cc Dax for shits and giggles....
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As a spotty teenager I had to buy bikes on a tiny budget and never seemed to have enough money to do what I wanted to do with them. Later on, of course, I started earning decent money and could run a better bike.
They got a lot more reliable so rarely needed more than routine maintenance. A modern bike is great to ride, but I hadn't had to strip an engine for donkey's years.
I really fancied getting an old bike to properly get my hands dirty again and that's why I got the 400f. I've never before been into an engine as deep as this one. I've learnt new tricks (mostly from you lovely people! ) and attempted tasks that I wouldn't have attempted before. I've loved every minute of it, apart from a few choice words now and again! There will be more. 😁
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Who cares what it costs? We do it for the love don't we?
I'm probably £2,800 into the 400/4 with about another £1800 to spend on the pipes and paint and a few other bits like tyres, consumables and the wiring but its saved me going bonkers in these awful times and like you all say, at least you can take it for a ride when you're done and feel as proud as punch with a massive sense of achievement.
Whether its holidays, cars, bikes or horses; if you can justify the time and cost (no matter how high or low) just go enjoy yourself!
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If you need to justify it you can’t afford it. It’s the age old cost vs value argument. I’m in at around 4k including purchase price with around £1500 yet to burn on chrome and paint and it won’t be as nice as the item currently for sale on this forum. If I knew then what I know now I’d be hooking up the trailer and driving to Horncastle.
Having said that, I’m having some fun rebuilding mine and learning a good deal in the process. My new Beema loses about £800-£1000 quid or so a year in depreciation. My ‘rationalisation’ is I only need to own my CB for a couple of years and the cost vs resale value has beeen diminished by the equivalent new bike depreciation. It might even gain in value. In the mean time it gives me more pleasure than many of the other shallow activities I’ve perused and have cost significantly more. It’s a selfish, indulgent activity and I love it.....just my view by the way. 8)
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I too do it for the enjoyment, but have to keep an eye on the cost as only have limited funds. My 550 was supposed to be a budget job, stands me at about 3-3 1/2 k and could easily spend more. The problem is getting the project bike at a decent price, the popular models are now getting above my budget.
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That's the key, getting the bike at a good price. My 350F cost me £700 delivered and although rough was a complete bike. The total still hit 4k though. If I was to repeat that now even rough bikes are selling for 2.5k so no way could you build it for less than it's worth.
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I have never lost £££ on any bike yet :o just lots of time.
I get many emails from people asking me to totally restore there bike and how much would it cost. The minimum hours involved in a full resto is around 100 hours and at £65 per hour plus parts, this always too much for them.
Every bike that i have restored and used for 2 to 3 years has given me years of pleasure and my money back that i have spent on parts. It is getting harder to find a good bike to restore these days, most projects that come up are people that have give up watching you tube vids and made a right mess. Met a woman in a petrol station yesterday who bought a CB550 in 1988 for £15, used it to get to and from work for 3 years and sold it for £55 :o
Did OK on my last 500K0 i bought, went to pick up a £250 project and the seller gave me another 500 as he was having a clear out. Sold most of the parts from the second 500 which paid for the 500K0 and my fuel. Now i will chuck £4 to 5K at it and get her looking and riding great again. ;)