True, but I say and have always said that you are silly (or even a fool) not to at least consider it when you do restore one. No different to a house reno. If you then choose to progress having considered all angles then you can at least console yourself that you considered it!

By consideration I mean asking yourself questions like:

Should I be restoring this car? Rust? Paint colour? Driveline?

Should I be spending $30k+ on this 6cyl HX Sandman van with windows cut into it?

Would I be better off spending $15k on a really good driveable near complete L31 M21 HZ Kingswood van and tidying it up? Or for that matter spending $18k on a clean-ish V8 Sandman that needs a tidy up and $5k spent on it, maybe paint it in 5 years time if it deteriorates a bit?

Why did I buy it? If it was because it was cheap and bought on a visible market, was it cheap because it was an undesirable car? Will it be desirable when restored? Remember GMH couldn't sell 202 powered HX Sandmans new, they were unsaleable at a profit. This is why the 6cyl was dropped from HZ Sandman. To my eyes not much has changed.