Gene Ondrusek is a man who should have known better. In the
late 1980s, prices for Italian exotics were heading for a level they have still
not recovered. Just as with American muscle cars today, it wasn't only
short-wheelbase Ferrari 250 California Spyders that exploded past the
seven-figure mark, but a rising tide that elevated prices of anything with a
Ferrari, Lamborghini or Maserati emblem on it. A look at Hemmings Motor
News from 1989, when Gene bought his 1975 Lamborghini Urraco, shows
Italian cars a year or two old selling for twice their list price, and only a
handful of Lamborghinis for sale among page after page of "cars
wanted" ads.
Gene's reasoning was that in a market as hot as that, no
project was off limits. Even if you poured your heart, soul and equity into a
car, you'd be assured of coming out ahead if you chose to unload it down the
line. "Everyone was looking for the rusted exotic in someone's barn,"
said Gene. And he found it, in an ad in the Dallas Morning News.
That logic developed out of more than a sense for the
market. Gene's prior car was a Lotus Europa, into which he realized he could
sink tens of thousands of dollars, and still end up with a wonderful, $9,000
car. He was also contemplating a Renault Alpine, but the same reasoning
suggested that, all things being equal, it made sense to put his time and money
into something that he could at least feel made financial sense. "Which
abyss of cash did I want to get into? I thought, 'the Lambo may have more
potential.' There's a saying: If the car was popular when it was released, it
will be popular when it's restored."
Thankfully, the V-8 had eaten only four of its 16 valves,
which meant that later on when a tiny package containing the new ones arrived
COD at his door, Gene only had to cut a check for $3,000. "Luckily, there
were no kids to send to college. They call it the poor man's Lamborghini."
And now you know why.
"But if you do it right, and make a few updates, it can
be fairly reliable." Metal mesh fuel lines in place of rubber and
polyurethane bushings may result in a slap on the wrist from judges, but if you
own a car that must be driven to stay driveable, it makes sense.
Gene sent the engine out for bottom end work to Louis Unser
(uncle to Al and Bobby) Racing in Los Angeles. Louis, then known for building
offroad truck engines, has since died, but Gene remembers it as a
straightforward rebuild, and states they did have the crank balanced.
The valves weren't the only sickeningly expensive small part
on the car. When putting the engine together, three oil return tubes had to be
crimped into place on each side when the head was torqued tight, and a call to
GT Car Parts in Phoenix, Arizona, revealed they ran $150 apiece. Gene's
mechanic noticed they looked an awful lot like a VW oil return tube, so Gene
took one over to the Off-Road Warehouse, which supplied the dune buggy, and
thus VW, market. "How much?" he asked. "We've got a big box of
them," they said. Forty bucks for all six, and he was out the door.
Despite GT's dire warnings, they seem to have handled the intervening 15 years
just fine.
In the last days of leaded gasoline, he contemplated
modifying the valvetrain in the 10.4:1 compression engine for unleaded, and
ultimately decided that if it required assistance, he'd use lead substitute. In
the end, he's run it on straight high-octane pump gas without a supplement, and
hasn't seen any evidence the valve seats are about to burst into flames.
He ended up at Off-Road Warehouse again when rebuilding the
four Weber 40 DCN carburetors, used on many Italian cars, and popular with
racing VW engine builders. He's not sure he'd be able to complete the
restoration as easily today, as at the time he could take small parts to any
number of local shops for cad or chrome plating. Environmental regulations have
since driven many of those operations out of state, out of business or
underground.
A few more items turned up in the interior. Behind the dash,
Gene found a rat's nest of wiring from an earlier stereo installation, and was
able to simplify the loom dramatically and reuse it. The car was originally
shipped without a radio, so he tracked down a period Becker tube receiver to
finish the dash. "The factory manual wiring schematic wasn't too helpful
without an electron microscope, and you had to speak Italian," he
mentioned.
He was also able to use some of his Lotus experience and
construct new fiberglass enclosures for the rear speakers, which Lamborghini
mounted above the rear seats, and had disintegrated beyond saving.
When the car went out for painting, "To some little
hippy dude my mechanic knew," the body man came back and asked him how
many collisions it had been involved in: None, to Gene's knowledge. The largely
handbuilt car was full of body filler from the factory, smoothing out the
hammer dents from Sant'Agata.
Gene didn't replace insulation around the exhaust, which was
fiberglass and aluminum: "It was ugly and it didn't do much, so I didn't
replace it. Now, it's more-or-less got headers." He also uses a K&N
air filter arrangement, saving the large factory airbox for shows. The result
is an even louder version of the V-8's already triumphant scream.
As the major parts were completed, it was time to think
about reassembly. "Two years later, I was looking at all the Ziploc bags,
with all my notes, and wondering, "What did I mean when I wrote that
down?" They no longer made any sense." He tracked down another local
car, and made several visits to compare.
To reinstall the engine, he ended up using his rented engine
hoist to raise the body, and dropped it over the engine, which is on a separate
support, located with six large bolts. He speculates that this was a service
decision made by the factory. "They must have thought you'd be taking the
engine out so often, it should have its own subframe," he said.
With the car in working order, Gene took a short shakedown
cruise to the local Pep Boys for supplies, and pulled into a parking spot at
the end of a row of handicapped spaces. As he sat in the car, he watched as
"some grandma-mobile, a Chevy Citation or something, saw all these empty
handicapped spots and pulled in inches away from me. She opened the door and
smashed it into mine. I went ballistic." He squeezed himself in between
the cars, "And I told her not to get out. She's telling me to let her out
and I'm thinking, I'm going to hell for cussing out someone's mother." The
beautiful, Bertone-designed razor crease along the door was half-an-inch
flatter than before, and back went the door to the hippy dude.
The Urraco could have made Gene money instantly. Immediately
after buying it for $18,500, the broker who sold it to him tracked Gene down
with offers up to $25,000. "Who knows what the future holds? I'm sure the
market will continue to vacillate, but it will incrementally be worth more
because it's old, it's a Lamborghini...and it's perfect. An Italian exotic such
as this needs to be reserved as automotive art," he said. "Besides,
it's my longest-term relationship."
Source: Feature Article from Hemmings Sports & Exotic Car
December, 2006 - David Traver Adolphus
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