I like your restored car analogy. To take it a little further, if the restorer understands the market will support a 10,000 price that is what he should ask. Accordingly, my price for the carbon boat acknowledges it is not class legal. However to suggest that the craftsman who built the car is only entitled to the cost of the paint and the raw materials used is a pretty exterme point of view. You could ask him to sell it to you for $100 but he is likely to immediately kick you out of the shop! If the basis of your $100 dollar offer is that it no longer looks like the stock model car, so what? There are people might appreciate the restored car just because it performa better than the stock car, or because they appreciate the craftsmanship, or, jut because they want something different.

Kevin