What on earth is happening to Griffith prices?

What on earth is happening to Griffith prices?

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Simpo Two

Original Poster:

69,944 posts

210 months

Sunday 29th May 2016
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Apols if mentioned before but two years ago £17K was a fair price for a 1997 500.

Now I see http://www.pistonheads.com/classifieds?Category=us...

Same is happening with DB7s as well - up 10K in a few years. Is it real or are just people/dealers trying it on?

roseytvr

1,652 posts

123 months

Monday 30th May 2016
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Same with to morals, t350, cerberas etc. Definitely an upward trend and long may it continue😀

Simpo Two

Original Poster:

69,944 posts

210 months

Monday 30th May 2016
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I wonder why? Supply is not suddenly short and the economy is not booming...

lockhart flawse

1,669 posts

180 months

Monday 30th May 2016
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Rise is overdue in my opinion and looking at Fernie's and Agger there are hardly any for sale as well.

You may or not be surprised at the cost of a decent E-Type or a Healey 3000 these days. I was.

There is nothing like a Griffith out there nor is there likely to be and prices have some considerable way to go I think.

BJWoods

4,908 posts

229 months

Tuesday 31st May 2016
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There seems to be less for sale privately. People hanging on to them?. And dealer stock means higher prices. ie prepped for customers who just want to get it and drive a car in excellent condition..

Classic car scene in 10 yrs taking into account for every one Griffith built.. Jaguar built 72 E-types.

coetzeeh

1,810 posts

181 months

Tuesday 31st May 2016
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Prices for most classic and limited production cars have increased materially over the last 3 years. Good that TVR prices are benefitting from the trend too.

SMB

1,429 posts

211 months

Tuesday 31st May 2016
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I'm not one for pushing up prices for the sake of it ( no intention of selling) but if it means it becomes viable to restore and repair more cars thats a good thing.

Englishman

1,882 posts

155 months

Tuesday 31st May 2016
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Exactly. If everything needs doing, to professionally restore any TVR costs ~£20K, so getting close to viable for all Griffs, if not Wedges, S's and Chims yet.

Jurgen Schmidt

610 posts

146 months

Tuesday 31st May 2016
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A few reasons that spring to mind...

- Economics - Supply/Demand - Not many for sale, placing upward pressure on prices
- A finite number in circulation, no more Griffith's being made, coupled with, and overtime, vehicles being written off
- A classic car from the 90's - and like me, had a poster of it on the wall as a lad, and now have the means to buy one
- Onset of Spring/Summer - Seasonality
- Population growth and higher disposable income
- TVR Parts - http://www.tvr-parts.com/ Provides confidence to new buyers of keeping the car on the road
- TVR brand, is back in the public domain once again as a going concern and a live entity


mike74

1,372 posts

77 months

Tuesday 31st May 2016
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It's called an asset price bubble, fuelled by cheap and easy credit.

It has nothing at all to do with a particular marque or model becoming more desirable and everything to do with people loading up on freely available debt to buy into an asset class that they seem to think is going to keep increasing in value.

The bubble will pop.

SMB

1,429 posts

211 months

Tuesday 31st May 2016
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in the case of the griffith i think its a little more complicated than that, although I agree thats likely the cause for more mass produced cars like Porsche etc. It doesn't account for existing owners retaining cars, the fact that raw basic cars just aren't made anymore, and the fact that compared to porsche tvr prices are still very low

Edited by SMB on Tuesday 31st May 13:14

Danattheopticians

374 posts

47 months

Monday 6th June 2016
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Loads of "Modern classics" are going up in value at the moment, it's just something I wish I knew 2 years ago, I was almost tempted to look at a cerbera then for £15k, now the same car would be £20k+. I have a theory. It's a strange one but bare with. Modern cars have gone all hybrid, safety conscious or small have turbo engine 1.4's that still pump out 140 bhp. Also a bunch of the kids who remember these 80's and 90's cars have since grown up and started driving but are running out of options for a car with normal old school engines. You'll part with £30k+ theses days for a good Saphire Cosworth, really it's nowhere near as good to drive as a £30k BMW 3 series in reality and it's uncomfortable but it's light and simple and when people of a certain generation were growing up it was the puppies paws!!!
This next bit is going to pain me to say, TVR's are technically pretty terrible cars. Now the comeback speech, a TVR will make it's owner smile every time they take it out, It's fast, loud, simple, will try and kill you but most importantly when it was launched nothing else around would come close and this is what these people who are looking for them now remember. The modern engines put in cars are chosen for efficiency then power and will one day have a bunch of enthusiasts all of their however these cars will be unusable classics when that happens, as will every petrol car, because, I'm sorry to suggest this but one day we will all be forced into fully electric cars frown

Old andCrankie rev1

7 posts

44 months

Monday 6th June 2016
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[quote=mike74]It's called an asset price bubble, fuelled by cheap and easy credit.

It has nothing at all to do with a particular marque or model becoming more desirable and everything to do with people loading up on freely available debt to buy into an asset class that they seem to think is going to keep increasing in value.

The bubble will pop.[/quote
i believe more like supply and demand
What can you get thats rarer, performance, street cred or touches the nostalgia
for the price and bloody loads of fun. They are in my opinion grossly undervalued!

Nick Brough

380 posts

166 months

Monday 6th June 2016
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Also when the stock markets are volatile people start putting their money into classics, seems to go in 10 year cycles, Still hasn't got as crazy as this wink

https://www.antiquestradegazette.com/news/2016/rec...

Regards

Nick

Danattheopticians

374 posts

47 months

Tuesday 7th June 2016
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Old andCrankie rev1]ike74 said:
It's called an asset price bubble, fuelled by cheap and easy credit.

It has nothing at all to do with a particular marque or model becoming more desirable and everything to do with people loading up on freely available debt to buy into an asset class that they seem to think is going to keep increasing in value.

The bubble will pop.[/quote
i believe more like supply and demand
What can you get thats rarer, performance, street cred or touches the nostalgia
for the price and bloody loads of fun. They are in my opinion grossly undervalued!
Do people really get loans to buy cars still these days? Bad choice if they do!!!(unless they have no other way to buy a normal car to use, then they don't have much choice) Choices are: Lease, save up, invest cash you already hold hoping it'll make more than the lowsy inetrest rates banks are giving at the moment, but getting a loan = paying interest as you pay it off, pretty much can cancel out any gains a cars value will increase by, buying outright makes gains, costs no intrest and gains over another depreciating asset. Robbing Peter to pay Paul doesn't.

cavebloke

566 posts

172 months

Tuesday 7th June 2016
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Danattheopticians said:
Do people really get loans to buy cars still these days? Bad choice if they do!!!(unless they have no other way to buy a normal car to use, then they don't have much choice) Choices are: Lease, save up, invest cash you already hold hoping it'll make more than the lowsy inetrest rates banks are giving at the moment, but getting a loan = paying interest as you pay it off, pretty much can cancel out any gains a cars value will increase by, buying outright makes gains, costs no intrest and gains over another depreciating asset. Robbing Peter to pay Paul doesn't.
Yup. I got a loan to buy mine 5 years ago. I couldn't afford the car outright then and I can't afford the car now but I now own a Griff outright so I'm as happy as Larry. The value increase has far outstripped the interest I paid so no complaints here but it was never an investment but rather the only way I could get my hands on my dream car. I've always owned another car as a daily and I didn't rob Paul, I only borrowed from him...

On the values, I think they have a long way to rise still and expect them to settle at about 50k in ten years time. Publicity associated with new TVR, a few cars heading to the USA and the general shift from second-hand to classic will all drive the values up. It won't ever be crazy like Porsche but these are rare cars with the looks of a 60s racer that you can get anywhere else for this price.

Just my thoughts.

Simon

lockhart flawse

1,669 posts

180 months

Tuesday 7th June 2016
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As someone who was once paying 15.4% on my mortgage personally I think there has never been a better time to borrow money to buy a car that's rising in value. I looked at paying off the loan on my wife's Mini recently but the amount of interest we were going to save was so small I didn't bother.

Just Trouble

698 posts

199 months

Thursday 9th June 2016
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If you not currently a Griff owner and you think that buying a good condition model would make a small profit you may and I say may be right. But you would have to store it in a heated garage with a dehumidifier. Leave it there for at least ten years starting it up and giving it an occasional run out remembering that these cars don't fair well not being used.

Unlikely to make any money other than that. TVR's are a money pit from which you are not going to see your money back from. I bought my Griff in 2002 for 17k and have bills/receipts in excess of 13k just keeping it on the road. Even if I wanted to sell my Griff which I don't I would never get any where near the money that I have spent in purchasing/servicing. Griff's are made for driving don't ever buy one expecting to make a profit.

BJWoods

4,908 posts

229 months

Saturday 11th June 2016
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Just Trouble said:
If you not currently a Griff owner and you think that buying a good condition model would make a small profit you may and I say may be right. But you would have to store it in a heated garage with a dehumidifier. Leave it there for at least ten years starting it up and giving it an occasional run out remembering that these cars don't fair well not being used.

Unlikely to make any money other than that. TVR's are a money pit from which you are not going to see your money back from. I bought my Griff in 2002 for 17k and have bills/receipts in excess of 13k just keeping it on the road. Even if I wanted to sell my Griff which I don't I would never get any where near the money that I have spent in purchasing/servicing. Griff's are made for driving don't ever buy one expecting to make a profit.
or in another frame of mind - £13k over 14 years..

about 1k (and a bit) a year to keep a high performance sportscar on the road..

I imagine some porsche/aston/lambo/etc owners might weep bitter jealous tears...

I've had mine 18 years, given all cars need MOT/tax/servicing has anybody got any bills for keeping a 911 (for example) on the road for that length of time.

I do agree, don't buy one to try and make a profit, though, I just don't think TVR Griffiths are any worse, than similar performance cars) for keeping on the road. ie a full new set of tyres only cost me £600 fitted.

Paxo1

147 posts

219 months

Saturday 11th June 2016
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A mate of mine had an £18k service bill on a late 90's 911 turbo. In comparison and given the performance, Griffiths (and TVRs in general) are cheap to own & run !