What on earth is happening to Griffith prices?
Discussion
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?
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?
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.
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.
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.
Classic car scene in 10 yrs taking into account for every one Griffith built.. Jaguar built 72 E-types.
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
- 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
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.
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.
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
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
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
[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!
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!
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 
https://www.antiquestradegazette.com/news/2016/rec...
Regards
Nick
https://www.antiquestradegazette.com/news/2016/rec...
Regards
Nick
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.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!
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
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.
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.
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.
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.. 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.
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.
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