[Sugarmaker]

my 2 pennies:
I also spent at or near the $3k mark during the restoration of a 147r. I bought the tractor cheap, but it was junk. One of those that should never have been restored. The PO had jimmied up every part of it! It needed everything, including a spare parts tractor for sheet metal and other items that were worn, missing, rusted, or busted. I enjoyed doing the project. The folks on OCC spurred me on. The wife wasn't real happy. I know its a good machine. Its not perfect, I did almost all of the work myself except for boring the engine. I did some custom items, so its not all stock. I have had fun with it at several tractor shows in the area. Yea it sounds like a lot of money. But a know cheap Big box store tractor will cost almost that much too.
I like old stuff, cars, tractors, trucks, so this restoration fit right in, I have not used the tractor for actual work since the restoration. Its one of those too nice to get dirty things. I did restoration of some implements also and that added to the cost and the work. Haven't used any of those either.
So the question is what would someone pay for these? If it appeals to the right person then they might spend the money. Maybe a IH collector or someone that wants a real nice tractor already done.
I still think even at that price say $3K to $4k its cheaper to buy one done than do it your self, especially if you have to pay for labor too.
Not a cut and dried answer here. But applies to almost all restoration work. Just check the hot rod forums, Folks put $100k into a car and sell it for $45 or less.
I now have a Allis WD that was my dads that is next in line to be a money pit. But if you smile when your done, its probably worth the trip.
New old stock Cubs are probably more rare than 63 split window Corvettes.
Have fun with your new restored Cub and be proud! Post a picture or direct me to the thread.
Regards,
Chris