Are Classics overpriced ?
Discussion
It seems to me that there are quite a few Classic TVR's that have been up for sale for quite a while. When I was buying last year they seemed to sell very quickly, blink or think and it would have gone.
Some asking prices seem to be very strong, so have they hit or maybe exceeded their ceiling, or is the number of potential buyers falling?
Moto
Some asking prices seem to be very strong, so have they hit or maybe exceeded their ceiling, or is the number of potential buyers falling?
Moto
heightswitch said:
High prices being asked on the back of a very few truly beautifully restored cars...Nothing much is selling though!!
As with anything, They are only worth what someone will pay!!
N.
I've not seen any truly beautifully restored cars advertised on PH in the TVR classic section. But I agree that on the back of that, lesser cars are being advertised for higher asking prices.As with anything, They are only worth what someone will pay!!
N.
There is some addage with old cars that rings true in many cases. Mint rebuilt car or basket case, anything in between is risky. Less so with plastic cars with a chassis that can be well inspected, but is £8K expensive for a usable calssic?
Well I sold my 1962 ali bodied lightweight S1 E type roadster at auction in July for £134,000. Thats a lot of money for some old tin. Although I know I bought well that's probably 25% up on 2 years ago. All classics are going north but only for exceptional cars or full restorations. Healeys, TRs and MGs have all gone up but unfortunately TVRs are not an iconic marque so it's patchy. Race cars have been commanding ever increasing prices for some time.
I will be selling one of my Granturas after Spa 6Hrs next weekend - to make room for the Atilla I've just bought - probably the LHD MkIII 1800S FIA race car but you won't get much change out of £50,000 (or should I say €55k as it will probably go to Europe). A bargain if you want a competitive pre66 under 2 litre FIA car - you could not build it for that. Alternatively I still have a part restored round tail MkIII rolling chassis with donor engine box etc etc. If anyone knows of a potential buyer........
I will be selling one of my Granturas after Spa 6Hrs next weekend - to make room for the Atilla I've just bought - probably the LHD MkIII 1800S FIA race car but you won't get much change out of £50,000 (or should I say €55k as it will probably go to Europe). A bargain if you want a competitive pre66 under 2 litre FIA car - you could not build it for that. Alternatively I still have a part restored round tail MkIII rolling chassis with donor engine box etc etc. If anyone knows of a potential buyer........
When I sold my TUscan I got an email from france asking if it was for sale. I replied no, unless you want to pay a lot for it. they asked me how much ( at he time 15k - not restored but in good nick with a rewire, repaint and minilites)the going rate would have been about 12.
they didnt hesitate and picked it up 4 days later. looking now some vixens are being advertised for that level whereas a couple of years ago they would struggle to get into double figures.
On another note - im also at Spa next week in Ian Bankhurts Grantura, so hello!
and 
they didnt hesitate and picked it up 4 days later. looking now some vixens are being advertised for that level whereas a couple of years ago they would struggle to get into double figures.
On another note - im also at Spa next week in Ian Bankhurts Grantura, so hello!
and Obiwonkeyblokey said:
On another note - im also at Spa next week in Ian Bankhurts Grantura, so hello! and
I know you are, I saw the post on the Cerb forum. I know Ian (and Malc) so it'll be good to meet you. and Unlike Ian's mine is pretty unproven and we've not done anything over 30 mins so we're not going to be on your pace - just don't go so fast we look like t
ts. I'll be happy with (legal) MGB pace and hope we finish.yep, we went there with Topcats in the Marcos in Britcar in June and won our class! I was driving with Neil Huggins who is sharing the car with Ian and I next week. I met Ian at Mallory on Wednesday morning and we took the car out for a few laps, everything seemed ready to go and Malc seemed happy so now we just need to make sure the beer is cold and we're all set!
sorry topic...as you were
sorry topic...as you were
its a common thing in classics....most adverts, especially the ones in magazines have set the price very high.
i´m into classic cars since 25years and it was always like that.
most sellers over-estimate the "real" condition of their cars.
when the seller thinks its in condition 2, an independent evaluator will drop it one grade lower, in most cases.
have seen people advertizing their car for over 3 years (!!!) and even the car was outstanding the market did not accept this price.
on the other side (which is rather the common thing) people advertize the car for e.g. 7000. when you view the car, showing them all the neg. points, afterwrads offering them a realistic marekt price of 5000 they react upset....and finally after weeks you will get informed that they sold it to somewhere else (often a dealer) for 4500, only!!!
thats how the market works....with buying a classic car you need time. time will brng a good car for a good price.
i´m into classic cars since 25years and it was always like that.
most sellers over-estimate the "real" condition of their cars.
when the seller thinks its in condition 2, an independent evaluator will drop it one grade lower, in most cases.
have seen people advertizing their car for over 3 years (!!!) and even the car was outstanding the market did not accept this price.
on the other side (which is rather the common thing) people advertize the car for e.g. 7000. when you view the car, showing them all the neg. points, afterwrads offering them a realistic marekt price of 5000 they react upset....and finally after weeks you will get informed that they sold it to somewhere else (often a dealer) for 4500, only!!!
thats how the market works....with buying a classic car you need time. time will brng a good car for a good price.
heightswitch said:
High prices being asked on the back of a very few truly beautifully restored cars...Nothing much is selling though!!
As with anything, They are only worth what someone will pay!!
N.
As Neil says a car is worth what someone will pay for it. As with anything, They are only worth what someone will pay!!
N.
The market for certain cars and marques is very strong but as I said earlier condition/provenance is everything. Have you seen the price of DB4s and AC Aces - up maybe 7 fold in 10 years. Unfortunately this is putting some cars beyond the reach of some enthusiasts but I've not heard many complain from making a packet from seeing their classic double or treble in value with no investment in restoration.
If we look at Granturas, personally I think £32k for a road car from a well known dealer in Essex is too much. On the other hand the last race Grantura MkIII sold for almost £40k last year - in less than a week as it was under-priced IMHO. The MkIIa at last year's Goodwood Revival went for well over estimate and it was a nail - the owner could not believe his luck.
BDA Escort or GAA Capri anyone?
Fiscracer said:
As Neil says a car is worth what someone will pay for it.
The market for certain cars and marques is very strong but as I said earlier condition/provenance is everything. Have you seen the price of DB4s and AC Aces - up maybe 7 fold in 10 years. Unfortunately this is putting some cars beyond the reach of some enthusiasts but I've not heard many complain from making a packet from seeing their classic double or treble in value with no investment in restoration.
If we look at Granturas, personally I think £32k for a road car from a well known dealer in Essex is too much. On the other hand the last race Grantura MkIII sold for almost £40k last year - in less than a week as it was under-priced IMHO. The MkIIa at last year's Goodwood Revival went for well over estimate and it was a nail - the owner could not believe his luck.
BDA Escort or GAA Capri anyone?
what did the Mk11a go for last year?The market for certain cars and marques is very strong but as I said earlier condition/provenance is everything. Have you seen the price of DB4s and AC Aces - up maybe 7 fold in 10 years. Unfortunately this is putting some cars beyond the reach of some enthusiasts but I've not heard many complain from making a packet from seeing their classic double or treble in value with no investment in restoration.
If we look at Granturas, personally I think £32k for a road car from a well known dealer in Essex is too much. On the other hand the last race Grantura MkIII sold for almost £40k last year - in less than a week as it was under-priced IMHO. The MkIIa at last year's Goodwood Revival went for well over estimate and it was a nail - the owner could not believe his luck.
BDA Escort or GAA Capri anyone?
sure you could define it as "a car is worth what someone will pay for it. "
a sucker is born every minute...but a sucker will not be representative for a typical market price.
if the seller is hoping to get the car sold to such a "sucker", he is calculating only with the stupidness of an unaware buyer, which does NOT reflect a typical market price!!!
unfortunately most sellers are calculating like that!!!
thats why such forums are really helpfull if buyers would join B4 their purchase...unfortunaltely they often join afterwards.
a sucker is born every minute...but a sucker will not be representative for a typical market price.
if the seller is hoping to get the car sold to such a "sucker", he is calculating only with the stupidness of an unaware buyer, which does NOT reflect a typical market price!!!
unfortunately most sellers are calculating like that!!!
thats why such forums are really helpfull if buyers would join B4 their purchase...unfortunaltely they often join afterwards.
Classic car collecting is a hobby where experience is invaluable. By studying the classic car market in detail and watching cars sell and visiting Classic Auctions regularly the collector begins to get a feel for real value.
As others have said most Classic Cars in Magazines are seriously over hyped and overpriced. Condition rarely matches description.
Watching and learning over time will bring results. I have collected Classic Cars for years. I have consistently got better as my knowledge has increased.
Its a very enjoyable hobby and there are bargains about. Good luck to you.
As others have said most Classic Cars in Magazines are seriously over hyped and overpriced. Condition rarely matches description.
Watching and learning over time will bring results. I have collected Classic Cars for years. I have consistently got better as my knowledge has increased.
Its a very enjoyable hobby and there are bargains about. Good luck to you.
Obiwonkeyblokey said:
Fiscracer said:
As Neil says a car is worth what someone will pay for it.
The market for certain cars and marques is very strong but as I said earlier condition/provenance is everything. Have you seen the price of DB4s and AC Aces - up maybe 7 fold in 10 years. Unfortunately this is putting some cars beyond the reach of some enthusiasts but I've not heard many complain from making a packet from seeing their classic double or treble in value with no investment in restoration.
If we look at Granturas, personally I think £32k for a road car from a well known dealer in Essex is too much. On the other hand the last race Grantura MkIII sold for almost £40k last year - in less than a week as it was under-priced IMHO. The MkIIa at last year's Goodwood Revival went for well over estimate and it was a nail - the owner could not believe his luck.
BDA Escort or GAA Capri anyone?
what did the Mk11a go for last year?The market for certain cars and marques is very strong but as I said earlier condition/provenance is everything. Have you seen the price of DB4s and AC Aces - up maybe 7 fold in 10 years. Unfortunately this is putting some cars beyond the reach of some enthusiasts but I've not heard many complain from making a packet from seeing their classic double or treble in value with no investment in restoration.
If we look at Granturas, personally I think £32k for a road car from a well known dealer in Essex is too much. On the other hand the last race Grantura MkIII sold for almost £40k last year - in less than a week as it was under-priced IMHO. The MkIIa at last year's Goodwood Revival went for well over estimate and it was a nail - the owner could not believe his luck.
BDA Escort or GAA Capri anyone?
I think this one is very cheap, just came on sale in Germany, only 5.800,-euro...
it comes without engine...its made ready for calssic race I guess, and its made lighter and stronger and all old parts you get with the car wich already looks good to me for that money.
maybe good a nice v8 project...
http://suchen.mobile.de/fahrzeuge/showDetails.html...
its completely fresh build so it says and has a smooth aluminium underside etc and many new parts too.
wish i had a big garage and the money free then I did not share it here ;-)
ofcorse its made lighter so interior is stripped but comes with the car the story says.
it comes without engine...its made ready for calssic race I guess, and its made lighter and stronger and all old parts you get with the car wich already looks good to me for that money.
maybe good a nice v8 project...
http://suchen.mobile.de/fahrzeuge/showDetails.html...
story said:
TVR GRANTURA, Baujahr 1959, komplett neu aufgebaut + Gewichtsoptimiert (alle original Teile vorhanden), glatter Aluboden, Überrollkäfig, Lederlenkrad, Schalensitz, Elektroeinzelabsicherung, neue Federn Vorderachse, komplett neue Scheibenbremsenanlage vorn, Formel 1 Alu-Pedalerie (hängend), überholte Alu Trommelbremse hinten, 15" Dunlop Speichenfelgen, Gitterrohmen verstärkt, Karosserie mit 16 Schrauben vom Chassi zu trennen, Motorhaube nach vorn klappbar und leicht (2 Bolzen) kompl. abnehmbar, ohne Motor, Farbe schwarz.
its completely fresh build so it says and has a smooth aluminium underside etc and many new parts too.
wish i had a big garage and the money free then I did not share it here ;-)
ofcorse its made lighter so interior is stripped but comes with the car the story says.
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