The old saving something that was going to be dumped in most cases is a croc. Most hot rodders require a fairly straight (and therefore probably restorable) starting point.
I have seen this more and more including a neighbour's prize winning model A coupe sold for $30,000 and the concourse metalwork removed for a mild roof chop, fabricated chassis, Chev 350 etc.
Here is my personal experience quite a few years ago.
I had spent a lot of time on a very original and rust free 1951 Ford F100. It took out "Peoples Choice" at a show before I sold it registered . Bloke flew up from Sydney, loved it and drove it home trouble free in 12 hours.
I got a letter from him 6 months later with a photo bursting with pride saying I would love my old truck. He then rang and wondered why I hung up on the dickhead.
Here is the truck he bought.
I never kept his photo but from memory this is very close to the crap he turned it into - but not as neat as this photo.