Flemke - Is this your McLaren? (Vol 5)
Discussion
Paddy_N_Murphy said:
A ridiculous thing to say I know, but no thank you.
I really feel for 'you' in so far as the complete examination and following of the car and invasion of privacy.
The 'One' I know has says he has looked to punt it on because of this 'chasing' by people and camera's everywhere.
An iPad nearly went through his windscreen the other day he told me as the loons in the car in front were leant out taking photos and dropped it, bouncing off of the road........
flemke said:
Paddy_N_Murphy said:
michael243 said:
A ridiculous thing to say I know, but no thank you.
I really feel for 'you' in so far as the complete examination and following of the car and invasion of privacy.
The 'One' I know has says he has looked to punt it on because of this 'chasing' by people and camera's everywhere.
An iPad nearly went through his windscreen the other day he told me as the loons in the car in front were leant out taking photos and dropped it, bouncing off of the road........
Although I don't enjoy the attention, and normally when driving an OTT car would prefer to be personally invisible, I think it is churlish of someone to buy one of these cars, take it out in public, and then grumble when other people, who are not in the lucky position to have such a car, become enthusiastic and want to photograph or video it. It's usually "kids", or at least younger people, who are doing this: who would begrudge them their fun?
I do not want pictures of my person publicised, but that is a separate matter. If people want to take pictures of any car on the public roads, it should not be the owner's place to complain.
Flemke,
I know you've been asked about selling before but with no.73 selling for almost $14 million last week has this prompted you to think of a value at which the car would become to risky to drive or just worth selling it on?
Also with regards to insurance, with a write off, would the insurers pay out the current market value of the car?
Thanks.
I know you've been asked about selling before but with no.73 selling for almost $14 million last week has this prompted you to think of a value at which the car would become to risky to drive or just worth selling it on?
Also with regards to insurance, with a write off, would the insurers pay out the current market value of the car?
Thanks.
I suspect that the only way an F1 would be unrepairable is in the case of a very major fire. The sort that melts the engine and completely destroys the body and carbon chassis.
There would be no parts left that the DVLA would accept as being a major part of the old car.
In theory you could take one original bolt and 'recreate' an entire car from new parts, but it would not be the same car.
I would hope that all owners of cars of this value would have fire precautions already installed in the car house...
Paul
PS. I hope this never happens to anyone.
There would be no parts left that the DVLA would accept as being a major part of the old car.
In theory you could take one original bolt and 'recreate' an entire car from new parts, but it would not be the same car.
I would hope that all owners of cars of this value would have fire precautions already installed in the car house...
Paul
PS. I hope this never happens to anyone.
Edited by Storer on Saturday 22 August 18:44
buckle88 said:
Flemke,
I know you've been asked about selling before but with no.73 selling for almost $14 million last week has this prompted you to think of a value at which the car would become to risky to drive or just worth selling it on?
Also with regards to insurance, with a write off, would the insurers pay out the current market value of the car?
Thanks.
Adjusted for inflation, the cost of repairing the car is essentially the same as it was 12 years ago when the market value was 10% of what it is today. I know you've been asked about selling before but with no.73 selling for almost $14 million last week has this prompted you to think of a value at which the car would become to risky to drive or just worth selling it on?
Also with regards to insurance, with a write off, would the insurers pay out the current market value of the car?
Thanks.
As has been said, a total, total wreck would be bad, but it would take a lot for a car to be completely written off. Atkinson's car suffered a lot, but to look at the car today one would not know that - it's fine. The car that was rolled in Italy last year suffered even worse, but that too is being repaired and will look fine. I think the operative mentality is that, if the chassis "plate" has survived, the "original" car can be restored.
As long as I have it, I would like to drive it some. Not necessarily as much as I used to do, although that is more because I lack the time to do much pleasure driving.
One is conscious that the greater the overall mileage, the less a car is worth, and that applies to all cars. I think previously here I speculated that the effect on market value of driving an F1 is IRO £25/mile. That may not seem like all that much, but if in its 20-year life an F1 has been driven 2,000 mi/yr - again, not all that much - the cumulative cost would be £1m - which does seem like all that much!
As regards insurance payout in the event of a total loss, the way it works is that the underwriter and the owner agree a maximum value, which may not exceed the estimated market value but does not necessarily have to equal it.
If the worst does happen, the owner gets paid the agreed value (less excess). If that is not enough to procure a like-for-like replacement, that is the owner's problem. In the event that the market value has declined such that the car can be replaced for less than the agreed value, the owner gets the lesser amount (or, potentially, another car, as provided by the underwriter).
SydneyBridge said:
I don't think an F1 would ever be written off and paid out on- however damaged it would always be more more economical to repair/rebuild it. The only issue would be availability of parts or if it needed a new engine.
Yes, the F1 is in the rather unusual position of having been built in small numbers but having an engine that is unique to it, resulting in there being very few engines in the world.Nonetheless, although I am not certain, I strongly suspect that even a new/replacement engine could be sorted along with everything else, and still the total cost would be less than market value of the car.
Storer said:
I suspect that the only way an F1 would be unrepairable is in the case of a very major fire. The sort that melts the engine and completely destroys the body and carbon chassis.
There would be no parts left that the DVLA would accept as being a major part of the old car.
In theory you could take one original bolt and 'recreate' an entire car from new parts, but it would not be the same car.
I would hope that all owners of cars of this value would have fire precautions already installed in the car house...
Paul
Agreed.There would be no parts left that the DVLA would accept as being a major part of the old car.
In theory you could take one original bolt and 'recreate' an entire car from new parts, but it would not be the same car.
I would hope that all owners of cars of this value would have fire precautions already installed in the car house...
Paul
That P1 is achingly pretty and a stunning piece of engineering. Lovely colour too.
The chap who oversaw the rebuild (from the insurance standpoint - it was his company) of Rowan's F1 is a good friend and the complexity and depth of response from McLaren cars at the time (bringing out the original moulds and re-employing some retired technicians and engineers from the original project) was quite outstanding. I love the colour on that car too.
I suppose that particular car (showbiz affiliation aside) shows how a regularly maintained, high mileage crashed-and-rebuilt car with provenance can still accrue value (although for many, Jay Leno et al) the desire of owning a rare and sublime piece of automotive engineering far outweighs the monetary value. If you can, you can. I tip my hat to them. If my numbers came up I would too.
I agree that a market 'crash' will occur on certain so called 'rare' models of super cars especially Ferraris. The bubble will burst at some point. When it does, I'll try to grab a nice 412 for £15k
That said, who would have thought that a mundane (but lovely) AVO escort would hit £60k in Twin Cam form? That market, fuelled by that film franchise no doubt, has seen the basic Mexico and RS2000 AVO cars hit crazy money. Who knew?
The chap who oversaw the rebuild (from the insurance standpoint - it was his company) of Rowan's F1 is a good friend and the complexity and depth of response from McLaren cars at the time (bringing out the original moulds and re-employing some retired technicians and engineers from the original project) was quite outstanding. I love the colour on that car too.
I suppose that particular car (showbiz affiliation aside) shows how a regularly maintained, high mileage crashed-and-rebuilt car with provenance can still accrue value (although for many, Jay Leno et al) the desire of owning a rare and sublime piece of automotive engineering far outweighs the monetary value. If you can, you can. I tip my hat to them. If my numbers came up I would too.
I agree that a market 'crash' will occur on certain so called 'rare' models of super cars especially Ferraris. The bubble will burst at some point. When it does, I'll try to grab a nice 412 for £15k
That said, who would have thought that a mundane (but lovely) AVO escort would hit £60k in Twin Cam form? That market, fuelled by that film franchise no doubt, has seen the basic Mexico and RS2000 AVO cars hit crazy money. Who knew?
Crockefeller said:
Who lives in Scotland and has 3 F1's? Can only think of one possible Pretty hard to sell them and keep the seller anonymous.
SydneyBridge said:
Crockefeller said:
Who lives in Scotland and has 3 F1's? Can only think of one possible Pretty hard to sell them and keep the seller anonymous.
Looking at it from the opposite perspective, if you lived in Midlothian and wanted to sell £25m worth of F1 road cars, would you choose a local car dealer who had no experience in buying or selling them?
jamies30 said:
flemke said:
Atkinson's car suffered a lot, but to look at the car today one would not know that - it's fine. The car that was rolled in Italy last year suffered even worse, but that too is being repaired and will look fine.
That's quite a specific choice of words.
flemke said:
One is conscious that the greater the overall mileage, the less a car is worth, and that applies to all cars.
Not sure I agree with the 'all' cars part there.With the very few iconic cars that were build in tiny numbers (250 GTO, F1 etc) I would have thought mileage is less important.
Nick Masons 250 GTO must be one of the most used examples but I can't see that have any effect on value if it ever came up for sale.
With so few cars in existence you can't afford to be too picky or you would never get to own one.
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