Classic Griff prices
Discussion
I'm looking for some views on classic Griff prices.
Having just read about Gizzer's pride and joy being sold, i find myself in a similar situation. Before my twins arrived i was covering 3-4000 miles a year but since the family doubled in size i've done no more than a few hundred miles
The question is can i justify keeping the Griff based on price appreciation. Cost of ownership is around £750-1000 per year on average based on low mileages. Does anyone have any views on appreciation vs running costs.
If i am out of pocket then i might as well sell up and get a new toy in a few years with 4 seats. If i'm quids in then i should keep it and enjoy the few times a year when i get a chance to use it.
Having just read about Gizzer's pride and joy being sold, i find myself in a similar situation. Before my twins arrived i was covering 3-4000 miles a year but since the family doubled in size i've done no more than a few hundred miles
The question is can i justify keeping the Griff based on price appreciation. Cost of ownership is around £750-1000 per year on average based on low mileages. Does anyone have any views on appreciation vs running costs.
If i am out of pocket then i might as well sell up and get a new toy in a few years with 4 seats. If i'm quids in then i should keep it and enjoy the few times a year when i get a chance to use it.
Running costs v. depreciation.
Assuming Griffs cost c. £1k p.a. maintenance + £5-600 pa tax/ins on average plus extra fuel costs eg if 4k pa @20 mpg = extra £600 pa compared to 'normal' car with 40mpg ie £2200 pa all in (or add'l £1600 if comparing to other cars as tax/ins. is similar.
All Griffs are now holding their value well and if bought/maintained well will increase in value thus justifying keeping hold of it even if minimal use.
Compare this to owning cost of owning another car depends on age/cost etc eg Mundano depreciation alone at £2-3k pa for the first 5-7 years so the Griff makes sense. (Have used this argument successfully
on many occasions over the last 14 years).
Finances aside you cannot put a price on the feeling of knowing you have it sat in the garage and it's yours - I have tried to quantify this over the years (and am well qualified as I have waved goodbye to more than my fair share of Griffs and other TVR's) and the price of running one is worth it alone for just being able to look at it - therefore all driving pleasure is pure bonus and essentially 'free' :-)
I could go on about prices and my view but will leave that for another thread...
Assuming Griffs cost c. £1k p.a. maintenance + £5-600 pa tax/ins on average plus extra fuel costs eg if 4k pa @20 mpg = extra £600 pa compared to 'normal' car with 40mpg ie £2200 pa all in (or add'l £1600 if comparing to other cars as tax/ins. is similar.
All Griffs are now holding their value well and if bought/maintained well will increase in value thus justifying keeping hold of it even if minimal use.
Compare this to owning cost of owning another car depends on age/cost etc eg Mundano depreciation alone at £2-3k pa for the first 5-7 years so the Griff makes sense. (Have used this argument successfully
on many occasions over the last 14 years).
Finances aside you cannot put a price on the feeling of knowing you have it sat in the garage and it's yours - I have tried to quantify this over the years (and am well qualified as I have waved goodbye to more than my fair share of Griffs and other TVR's) and the price of running one is worth it alone for just being able to look at it - therefore all driving pleasure is pure bonus and essentially 'free' :-)
I could go on about prices and my view but will leave that for another thread...
I strongly suspect the answer is you won't make the money you spend on her back. I am fairly certain they will/are going up in value (the good ones) but probably not covering the annual upkeep cost.
Before you sell on that basis alone though I'd urge you to factor in the non financial cost of selling. Regret is a powerful thing! It dogged me for 10 years before I bought another one. I hardly use it but will never sell having sold before unless I absolutely have to liquidate the asset.
If you can afford not to, don't
Before you sell on that basis alone though I'd urge you to factor in the non financial cost of selling. Regret is a powerful thing! It dogged me for 10 years before I bought another one. I hardly use it but will never sell having sold before unless I absolutely have to liquidate the asset.
If you can afford not to, don't
i think you either want it enough to keep it, and accept that itll cost X, or you dont,
i dont think you can financially justify keeping any toy car....unless youre prepared to take a big punt into a speculative gamble on its future value, in which case your justification is just a fabrication of your own creation.
i dont think you can financially justify keeping any toy car....unless youre prepared to take a big punt into a speculative gamble on its future value, in which case your justification is just a fabrication of your own creation.
I bought my Griff because; I always wanted one, loved the styling, the noise, relative ease and accesibility of maintaining in a home workshop. I do not get any hang-ups with how much prices are going up or down. I do not smoke but really love cars and the enjoyment of top down motoring. With so many things being taken away from us now days, and the continuous bleating of do-gooders and politicians - let's enjoy why we can and while it is affordable to us ordinary folk! All the best, Pete
pjac67 said:
Running costs v. depreciation.
All Griffs are now holding their value well and if bought/maintained well will increase in value thus justifying keeping hold of it even if minimal use.
Is that true? I think they peaked last year and seem to be coming down now. The yellow one at Sebring was £22k it's now £18k, there's an SE up for £25k and yet last year people were banging on about SE's reachin £40k. The same sort of thing is now happening with Sags, people getting carried away about future values.All Griffs are now holding their value well and if bought/maintained well will increase in value thus justifying keeping hold of it even if minimal use.
I agree with other posters it doesn't matter what the car is worth if you like it and can justify the outlay required to keep it on the road.
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