First Question: Whats it worth?
It is not lost on me that most of you who are interested in this restore start with the question, “How much did it cost?” and, “What do you think it’s worth?” These are fair questions.
Let me start by recognizing the current value is not the sum of the dollars spent in restoration and customization during the course of the project. Quality, age, timing, demand, uniqueness and ego determine how people ascribe value. So the best answer is, I don’t know. But this community does know. It is worth whatever delight this community ascribes to perhaps the lowest mileage, US based example of a late model (2006) V70R (1 of 823, 186 of them Sonic Blue, paint code 470) that has been restored. So in large part, the value lies in what you say it is. So post whatever you want.
For me, it’s been worth a return to the nostalgia of buying my first Volvo, a teal 850 turbo wagon. And then, a black 850 sedan. And then, a black V70R AWD. It has been worth the camaraderie of craftsman, mechanics, and other specialists who have contributed their skills. It has been worth the anticipation of the results of long wait for a full respray. I have enjoyed the research and advice of many of you. And it has given me a distraction and things to work on in the era of Covid.
As for the investment, or better put, expense of this project, I purchased the basic car, sight unseen, for $11,200 (plus shipping to KS). It was a single owner California car, totaled, then brought back to life by Millennium Motors, in Portland Oregon, who bought it at auction. I purchased from them after a Pre-purchase inspection by a Volvo shop.
With what I have done, it may be that I could have bought a new V60, at least a T5 Momentum. I considered it. But I already have a late model XC 90 Inscription, which is too similar, as well as a new BMW X3 M40i, both of which have all the modern bells and whistles. So I chose to pick doing a project car that fit my personal taste and desires and would result in a comfortable and fun daily driver for me and my German Shepherd dog, Nikko.
Hagerty has insured the car at an agreed upon value of $40,000. I’m not quite sure of what that will mean in case I ever have an unfortunate accident, but I feel like I have some backstop in that scenario. Since I don’t plan on selling, I am not really interested in resale value. But stay tuned, as my son is not the Volvo fan some of you are, so upon my death you may be able to score a deal.