New TVR still under wraps! (Vol. 3)

[LucyP]

sixor8 said:

Penrhyn said:

A very tidy TVR as appeared on an Auction site

https://www.manorparkclassics.com/auction/lot/lot-...

Well Manor Park got it right. They estimated it at £19K to £21K and it sold, almost bang in the middle at £20,125. With commission, that's £23,143.75, and after commission, it's £18,917.50 to the seller.

[tvrolet]

Byker28i said:

Coming in a few hours Jay Leno's garage and a Cerbera

Decent enough video - reminds me of just how great the Cerbera looked and was packaged, especially the 4.2s with the original lights and wheels -absolutely loved mine in yellow. I would have bought the Griffith as I had a deposit down, but not a patch on the looks of the Cerbera - it still looks fresh. Quite a shock to realise it's 25 years old. I can ignore the 'TVR still active' comments from the vid, but $70,000 for an old one in the US

[Byker28i]

Came out in 1996, so they are 28 years old. Mine is a 97 so 27 years old. The US have relaxed rules for cars over 25 years

[keynsham]

I have found a source of spare parts for the new Griffith!!!!! It seems nothing is available though!

[Viper201]

Even worse at Euro Car Parts. Its not even recognised at all under UK69 TVR.

[sixor8]

LucyP said:

Well Manor Park got it right. They estimated it at £19K to £21K and it sold, almost bang in the middle at £20,125. With commission, that's £23,143.75, and after commission, it's £18,917.50 to the seller.

Except they didn't. All published sale prices include the fees. I was watching the auction, the top bid was £17,500. And the top bidder stuck to his top bid and got it. 15% fees (Inc VAT) gets you to £20,125.

About half the lots that actually sold were at under reserve or negotiated after the hammer went down.

Edited by sixor8 on Friday 23 February 21:18

[Jordie Barretts sock]

Hang on a minute!

They got 25% (front and back) on a £20k car???

That's outrageous.

[sixor8]

The seller fees are much less, perhaps 6%, I'm using my phone so can't check at the moment. Manor Park, to be fair, charge no entry fees. CCA / Historics / Iconic etc charge £150 - £250 just to go in their shiny catalogue, depending on if you want 'professional' photos, ie avoid the dodgy bits If it doesn't sell, they don't get anything, and they are running a business! SWVA don't charge entry fees either at present and only 8% buyers fee. 12.5% is a bit steep I grant you but it's the buyer's choice; I always factor this in when I bid.

[Viper201]

Now, talking of money, until recently LE was the biggest shareholder by some margin with 660,000 ordinary shares and 462,500 ordinary A shares.

Today's Confirmation statement for TVR Automotive Ltd shows that Ensorcia holds 2,261,351 ordinary shares plus 1,355,067 ordinary A shares.

There are a handful of new shareholders including EV SPV LP with 211,426 ordinary and 126,693 ordinary A shares, who are a new company installing charging stations around the country, and EAEVM LLC with 609235 ordinary shares and 365071 ordinary A shares.

The Welsh Ministers still have their 100,000 ordinary shares which represent their £500,000 'investment'.

So, the total number of shares issued is 9,857,686 with a total nominal value of £6,200,960.62 which is exactly double the figures from 2022.


https://find-and-update.company-information.servic...

[GeneralBanter]

Viper201 said:

So, the total number of shares issued is 9,857,686 with a total nominal value of £6,200,960.62 which is exactly double the figures from 2022.

Meaning what?

[MustangGT]

GeneralBanter said:

Viper201 said:

So, the total number of shares issued is 9,857,686 with a total nominal value of £6,200,960.62 which is exactly double the figures from 2022.

Meaning what?

Probably means more people losing their investment.

[Fifty]

Mikebentley said:

Maybe it could be the prize in a Squid Games style TV show where it’s a battle to the death. The car that never was.

Ooh, you mean like the PH Lotus?

[Wacky Racer]

This forum is going to the dogs.

We haven't any updates on turnips and lettuces for a while.

[QBee]

MustangGT said:

GeneralBanter said:

Viper201 said:

So, the total number of shares issued is 9,857,686 with a total nominal value of £6,200,960.62 which is exactly double the figures from 2022.

Meaning what?

Probably means more people losing their investment.

It means it isn't a loan that needs repaying at some stage, it's actual cash invested in the business to keep it going.

[glow worm]

Wacky Racer said:

This forum is going to the dogs.

We haven't any updates on turnips and lettuces for a while.

I've moved to Homes & Gardens , there's more FACT and less FICTION

[PAUL.S.]

Although the current iteration of TVR and its clearly now defunct Griffith are dead in the water, the brand still has a potential future value I guess, which Les and the new investors are banking on I imagine.

[Byker28i]

QBee said:

MustangGT said:

GeneralBanter said:

Viper201 said:

So, the total number of shares issued is 9,857,686 with a total nominal value of £6,200,960.62 which is exactly double the figures from 2022.

Meaning what?

Probably means more people losing their investment.

It means it isn't a loan that needs repaying at some stage, it's actual cash invested in the business to keep it going.

Standard isn't it - cash gets invested in return for shares, diluting the original share value?

[LucyP]

PAUL.S. said:

Although the current iteration of TVR and its clearly now defunct Griffith are dead in the water, the brand still has a potential future value I guess, which Les and the new investors are banking on I imagine.

It isn't theirs to bank, if it all goes belly up. All the IP is mortgaged as security and will be "repossessed" by the lender. It will be the lender's to sell just like your house, if you don't pay your mortgage.

That is assuming that it doesn't still belong to Smolenski and he just licences the name to Edgar.

It will be worth nothing, just like all the other defunct names. BMW are sitting on a pile of the old BL brand names. GM USA are the same. How much would you pay for Triumph or Pontiac?

VAG and Stellantis have too many active brand names. Does anyone look at Lancia or DS and remember the glory days? VAG struggled with Seat, so they invented Cupra and have been much more successful with it.

Edited by LucyP on Wednesday 28th February 13:18

[Oldwolf]

Wacky Racer said:

This forum is going to the dogs.

We haven't any updates on turnips and lettuces for a while.

I planted out my onion sets yesterday.

HTH

[Gazzab]

LucyP said:

PAUL.S. said:

Although the current iteration of TVR and its clearly now defunct Griffith are dead in the water, the brand still has a potential future value I guess, which Les and the new investors are banking on I imagine.

It isn't theirs to bank, if it all goes belly up. All the IP is mortgaged as security and will be "repossessed" by the lender. It will be the lender's to sell just like your house, if you don't pay your mortgage.

That is assuming that it doesn't still belong to Smolenski and he just licences the name to Edgar.

It will be worth nothing, just like all the other defunct names. BMW are sitting on a pile of the old BL brand names. GM USA are the same. How much would you pay for Triumph or Pontiac?

VAG and Stellantis have too many active brand names. Does anyone look at Lancia or DS and remember the glory days? VAG struggled with Seat, so they invented Cupra and have been much more successful with it.

Edited by LucyP on Wednesday 28th February 13:18

But maybe he is hoping to find another mug who will not conduct any due diligence and will see value in the brand.