I'll back Mr. Cooter by quoting Mr. Jay Leno.
"If you restore a car, and you do it right, and you [sell it and] make money on it, you did something wrong."
I once helped prepare an $83,000 estimate to restore a '72 Ford LTD. The Customer thought we were crazy. But then we provided an itemized list of everything - parts, labor, labor to FIND rare parts, dissasembly, bagging/tagging, etc... We showed everything, and he was convinced.
On disassembly ALONE we went over budget because everything on the car was rusted solid, and because someone (previous owner, selling dealership, who knows) sprayed a dozen cans of rubberized undercoat underneath the car, so that even removing the TRIM from the fenders took around 4 hours...
Chip Foose built cars on Overhaulin' in just a week... But he had a crew of 20+ people working on it, and many working 20-hour shifts... 7 x 20 x 20 = 2,800 hours. Factor in an average rate of $25 an hour, you're at $70,000 just for labor. But they don't tell you THAT during the show, do they.