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The BMW was purchased by Mike for just shy of £5,000 before it underwent an extensive restoration.
The car was fitted with a new fuel pump and hoses as well as a new battery and a brake system.
The engine was given a full service with new spark plugs and fluids also installed on the model.
After all the work had been completed, the model was sold for £23,415 which generated profits of over £9,000 once restoration costs had been taken into account.
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Mike’s 59MGA was just the third car retired in America in Series 15 and underwent a full transformation.
| UPDATED: 10:10, Mon, Feb 15, 2021
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The historic 1960 MGA roadster is already worth between £8,000 and £12,000 in its current condition but some extra repair work could see prices soar. The car is believed to have sat in a garage in Dorset unused for possibly 20 years before the car was discovered by auction specialists at Charterhouse.
The car s interior has been completely refitted (Image: DriveTribe)
Mr Greenhouse added: “He drove it, decided he didn t want to take the risk, ‘oh the diffs widening. oh it s a little rattle’. It s a 70-year-old car.
“When you make a cake you don t do the icing first do you, you get the ingredients you start from scratch and make it nice.
“Anyway, we’ve got to the stage now where its all got to come back to pieces again.
“We’ve got to take the engine out but on this car that could be quite tricky because it s a very narrow engine bay.
The 1966 Ford Thunderbird would mark the last convertible model produced until the two-passenger retro Thunderbirds came out in 2002.
It was a remarkable car for its times, as the convertible top retracted into the rear compartment after the trunk automatically opened backwards to swallow the top. Once the trunk closed automatically, the car was a full convertible. It was wonderful technology for its era.
Mike and Loretta Schmidt had wanted a special car when they tracked the ’66 convertible down in Penticton. After $20,000 changed hands 25 years ago, they decided to have some upgrades made including rust repair. Little did they know that the restorer would cover up rust holes in the trunk with tin pop riveted in place and covered with roofing tar.
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Fast forward to 2015 and the kit had been ordered, 24 months later the car was built with no experience other than changing the oil and brake pads on his motorbike. Kit cars are exactly what they say on the tin, road cars or racers delivered in parts and constructed by the owner themselves.