E-type déjà vu. The second rebuild
Discussion
Great investment !!
A 1966 OTS nut and bolt restoration just sold at auction in the US for $467,500 !!
http://www.rmauctions.com/lots/lot.cfm?lot_id=1063...
A 1966 OTS nut and bolt restoration just sold at auction in the US for $467,500 !!
http://www.rmauctions.com/lots/lot.cfm?lot_id=1063...
lowdrag said:
Yes, but "a three times JCNA 100 point champion". it is correct in every detail, and as such - and here comes the sad part - can never be driven for fear of the slightest stone chip.
Well it can be driven and damn the consequences. Also the leather looks very new, I guess it's had the obligatory re-trim? exkay said:
Sadly pushing the values up to where the REAL enthusiasts cant afford them any more, ridiculous price, it`ll now be put away under lock and key and wont be seen anymore probably.
That's quite a broad brush assumption? I know a few guys who have worked very hard professionally in order to indulge themselves in their hobby - cars. Many of the cars they own sadly do not get used frequently as the individuals are normally hugely busy with work commitments and a multiple of cars, but this doesn't mean that they are not "REAL" enthusiasts.
Yes, a bold statement, but very true, i saw it happen in the late 80`s when the prices were unaffordable, its happening again now,ok i`ll put it another way, most of the real enthusiasts wont be able to afford them, it`ll be the well off investors that will be buying just to make a profit, not because they love the cars,
So let me put this to you; is Nick Mason a real enthusiast? I would certainly say so! He owns some iconic Ferraris and he and his wife frequently race their Aston Martin Ulsters. Is he wealthy, of course. So is he an enthusiast, of course! Evidently one's enthusiasm for classic cars does not diminish as a square to one's wealth.
I think that in some ways I agree with you all, but somehow I come back to the days of my - comparative - youth when an old car was just that - an old car. It isn't a question of the actual value of a car to me but rather like a mortgage, an expression of the multiple of earnings needed to own such. If we go back but a few years, when the Northern Rock were offering 120% mortgages for example, we know that loans were in the range of a multiple of five times earnings and we know what that did for house values - until the pack of cards collapsed. I have spent today talking to a few dealers I know and they tell me that things are busier than they have ever been so far this year. Is that a sign that it is time to get out or to "invest"? I'm not a pessimist, nor a speculator, but somehow I am uncomfortable with my hobby being invaded by these Johnny-come-Latelies who are jumping on the bandwagon. They know nothing about the cars, their heritage, their performance or foibles, but perceive them to be a better alternative to money in the bank. I think it is perhaps time to invest in tulip bulb futures once again.
Yours
A. Luddite.
Yours
A. Luddite.
RichB said:
So let me put this to you; is Nick Mason a real enthusiast? I would certainly say so! He owns some iconic Ferraris and he and his wife frequently race their Aston Martin Ulsters. Is he wealthy, of course. So is he an enthusiast, of course! Evidently one's enthusiasm for classic cars does not diminish as a square to one's wealth.
Well said. For me, petrol runs through my veins and i've loved all the cars i've previously owned and currently own. Work 1st - to provide for my family and 2nd to indulge my car passion. I work a huge amount of hours with little holiday (my choice, granted). Am i a car enthusiast? Completely! I've found time to refinish the cam covers of my E-Type this week and will be refitting them tomorrow morning (before my youngster wakes up)My car's have done little more than a few hundred miles each this year - i haven't got time to use them any more than i do with work and a young family and work being my priority - for my wife / children primarily. Does that make me "not a real car enthusiast?" absolutely not. My priorities are just different. My first and ultimate responsibility is to provide financially for my family. Hence, work is a major factor. This luckily also provides for my passion - cars, although my spare time outside of work has to be distributed to my Wife & Children 1st - hence not being able to use my cars as much as i'd like.
Sorry for hijacking the thread
On the other hand...
I consider myself a genuine enthusiast but I've recently bought, restored and sold an early E-type for the sole purpose of making more money than I could from my savings. I couldn't have afforded to keep the car.
I don't see anything wrong with that.
Similarly if I had a spare £100k+ I would rather it was in a car than a bank. Even if I couldn't really afford to use that car regularly for fear of devaluing it.
I do agree with the point that these higher values are unfortunately taking some old cars beyond our (enthusiasts) reach and it's a shame when the majority of them end up as investments. It's a difficult one.
I consider myself a genuine enthusiast but I've recently bought, restored and sold an early E-type for the sole purpose of making more money than I could from my savings. I couldn't have afforded to keep the car.
I don't see anything wrong with that.
Similarly if I had a spare £100k+ I would rather it was in a car than a bank. Even if I couldn't really afford to use that car regularly for fear of devaluing it.
I do agree with the point that these higher values are unfortunately taking some old cars beyond our (enthusiasts) reach and it's a shame when the majority of them end up as investments. It's a difficult one.
In 1976 I dragged a forlorn and very early 3.8 series 1 fhc out of a shed for the sum of £250.
It was in a bad state, f/glass doors plus rust.
However, a further £250 on engine/gearbox/clutch and brakes produced a very fast road rocket that was used for commuting from Southampton to Liverpool.
It never hit anything re the brake bellows issues and only once stopped re broken drive belt.
Like earlier post, it had to go when no spare money for rebuild, family first etc and sadly waived it goodbye at £1000.
Fast forward to 2000 and goodwood auction, into my life comes a series 1 4.2 fhc and this time the funds do allow the proper care and attention plus some upgrades.
Nearly 14 years on its still brings the most huge smile and feelings of affection for this fine car.
In my view E Types are so special, good value and stand there ground with the rest of my fleet of various quality quick cars, HWB...........my special mechanical friend, sometimes its even gets a sly pat in the garage, simply because its been so safe, faithful and almost predictable until its performance exceeds my skills.
It was in a bad state, f/glass doors plus rust.
However, a further £250 on engine/gearbox/clutch and brakes produced a very fast road rocket that was used for commuting from Southampton to Liverpool.
It never hit anything re the brake bellows issues and only once stopped re broken drive belt.
Like earlier post, it had to go when no spare money for rebuild, family first etc and sadly waived it goodbye at £1000.
Fast forward to 2000 and goodwood auction, into my life comes a series 1 4.2 fhc and this time the funds do allow the proper care and attention plus some upgrades.
Nearly 14 years on its still brings the most huge smile and feelings of affection for this fine car.
In my view E Types are so special, good value and stand there ground with the rest of my fleet of various quality quick cars, HWB...........my special mechanical friend, sometimes its even gets a sly pat in the garage, simply because its been so safe, faithful and almost predictable until its performance exceeds my skills.
SESH said:
Great investment !!
A 1966 OTS nut and bolt restoration just sold at auction in the US for $467,500 !!
http://www.rmauctions.com/lots/lot.cfm?lot_id=1063...
Not so perfect with it's wonky front bumperA 1966 OTS nut and bolt restoration just sold at auction in the US for $467,500 !!
http://www.rmauctions.com/lots/lot.cfm?lot_id=1063...
I don't think classic cars are the only facet of life where those with wealth can indulge their whims for financial reasons. Houses, fine wine, going to sporting events etc - there is no doubt that there are many more knowledgeable people in all these categories that cannot afford to indulge their passions. That is the way if life - rare things that interest people become too expensive for those on normal incomes.
Back on e-types- popped in to a garage yesteday and found the owner had a lovely white e-type on the ramp. Lovely to see a proper, non-concourse car with a bit of rust here and there being brought back into use.
Back on e-types- popped in to a garage yesteday and found the owner had a lovely white e-type on the ramp. Lovely to see a proper, non-concourse car with a bit of rust here and there being brought back into use.
vpr said:
SESH said:
Great investment !!
A 1966 OTS nut and bolt restoration just sold at auction in the US for $467,500 !!
http://www.rmauctions.com/lots/lot.cfm?lot_id=1063...
Not so perfect with it's wonky front bumperA 1966 OTS nut and bolt restoration just sold at auction in the US for $467,500 !!
http://www.rmauctions.com/lots/lot.cfm?lot_id=1063...
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