When your pride and joy becomes an "Ornament"

[Far Cough]

Due to the recent rise in appreciation for things like the GT3 RS, I now know 2 friends that have effectively retired their cars as they are concerned about damaging what has become a very expensive ornament almost overnight. One is a Gen 2 3RS and the other a gen 1RS. The third mate has just sold his gen 1RS after owning it for 10 months and putting 7k miles on it and generally abusing it! Bought for £75k sold for £110k. Not bad in anyones book !

So , the question is , what to do ? Even if they want to track them the cost of insurance is now prohibitive and they are being quoted £500 per day currently but the rumblings are that this will increase as underwriters are now shying away from trackday cover having caught a cold over it. So , at what point when your car becomes an ornament to polish and leave in the garage for fear of adding miles or damage do you jump ship to enjoy the thrill of driving again ???

[utgjon]

Far Cough said:

Due to the recent rise in appreciation for things like the GT3 RS, I now know 2 friends that have effectively retired their cars as they are concerned about damaging what has become a very expensive ornament almost overnight. One is a Gen 2 3RS and the other a gen 1RS. The third mate has just sold his gen 1RS after owning it for 10 months and putting 7k miles on it and generally abusing it! Bought for £75k sold for £110k. Not bad in anyones book !

So , the question is , what to do ? Even if they want to track them the cost of insurance is now prohibitive and they are being quoted £500 per day currently but the rumblings are that this will increase as underwriters are now shying away from trackday cover having caught a cold over it. So , at what point when your car becomes an ornament to polish and leave in the garage for fear of adding miles or damage do you jump ship to enjoy the thrill of driving again ???

At what point? The intersection where the "benefit" of driving the car an extra mile is outweighed by the opportunity cost of potential value rise.

What you will find is that this is very mileage dependent.

E.g. if a car has done 62k miles, driving it an extra 6k miles is unlikely to affect it's value. However, the cost of the next 2k miles will affect the value, as the car will cross the arbitrary 70k mile threshold.

[Trev450]

Cars are made to be driven - not looked at. If and when the time comes that you are reluctant to use something because of its value, then the pleasure of ownership is lost imo.

A very good friend used to own a genuine Audi Quattro Sport SWB which he purchased for £42,000. He was quite happy doing a few trackdays and using it on the road for jollys as and when the mood took him, but when some six or so years after buying it the value doubled, he elected to sell it because he didn't want to drive it as it was intended with the 'new' value it had acquired.

[Inverted]

At the moment my 7.1 RS is worth about 30k more than I paid for it. The way im seeing it is I never bought it with the intention of making money and its never going to be worth less than I paid for it so I might as well drive it. Your a long time dead and a lovely orange GT3 wont be much use when im 6 feet under..

[V8KSN]

I bought my GT3 to drive first and foremost.
I love driving it, tis the reason why I bought

It's value has gone up since I bought it (which is nice) but because its worth more it doesn't mean I want to drive it any less......if that makes sense.

I thought about selling it and 'cashing in' but the idea of never getting to drive one again scared me out of it!

So...
1) I didn't buy it to make money on it.
2) I expected it to be worth less when I sold it.

I dont think it will ever drop below £55k which is what I paid for it so I am going to continue to drive it...... unless it gets to a ridiculous value and then I will sell it..... I think..... Oh I don't know!

[CRA1G]

Trev450 said:

Cars are made to be driven - not looked at. If and when the time comes that you are reluctant to use something because of its value, then the pleasure of ownership is lost imo.

A very good friend used to own a genuine Audi Quattro Sport SWB which he purchased for £42,000. He was quite happy doing a few trackdays and using it on the road for jollys as and when the mood took him, but when some six or so years after buying it the value doubled, he elected to sell it because he didn't want to drive it as it was intended with the 'new' value it had acquired.

Doubled...??? £495,000...!!! I think your friend might wish he sill had it...!

http://www.howardwisecars.co.uk/index.php/classic/...

[Trev450]

CRA1G said:

Trev450 said:

Cars are made to be driven - not looked at. If and when the time comes that you are reluctant to use something because of its value, then the pleasure of ownership is lost imo.

A very good friend used to own a genuine Audi Quattro Sport SWB which he purchased for £42,000. He was quite happy doing a few trackdays and using it on the road for jollys as and when the mood took him, but when some six or so years after buying it the value doubled, he elected to sell it because he didn't want to drive it as it was intended with the 'new' value it had acquired.

Doubled...??? £495,000...!!! I think your friend might wish he sill had it...!

http://www.howardwisecars.co.uk/index.php/classic/...

This was about seven years ago and his was no where near as low a mileage as the one advertised. But he was aware that keeping it longer would have resulted in a higher selling price, but wasn't prepared to keep it and not use it.

[jackal]

Rag it habitually .... or sell it.

Nothing inbetween.

[GT3cs]

Inverted said:

At the moment my 7.1 RS is worth about 30k more than I paid for it. The way im seeing it is I never bought it with the intention of making money and its never going to be worth less than I paid for it so I might as well drive it. Your a long time dead and a lovely orange GT3 wont be much use when im 6 feet under..

Exactly .

I got a new 991 GT3 , 3 weeks ago . All my pals are saying I'm nuts not to sell and make £20k . I say your a long time dead and would I get more enjoyment out of 20k ......No

[keep it lit]

jackal said:

Rag it habitually .... or sell it.

Nothing inbetween.

STANDARD ! ^




... but not in this weather

[IMI A]

keep it lit said:

jackal said:

Rag it habitually .... or sell it.

Nothing inbetween.

STANDARD ! ^




... but not in this weather

Love it. Even looks fantastic without wheels! Almost bought this car but thought it would have been wasted on me.

[Inverted]

keep it lit said:

STANDARD ! ^



... but not in this weather

True.. Mines sleeping until April. Haven't even seen it since August. 8 months hibernation when I finally get to drive it. Road trip around Northern Scotland booked for then.

[LaSource]

keep it lit said:

STANDARD ! ^




... but not in this weather

Love the lay up image...even looks nice on stilts

[Slippydiff]

keep it lit said:

STANDARD ! ^




... but not in this weather

Tart

Oh hold on. 2005, happy days

[Scooty100]

Inverted said:

At the moment my 7.1 RS is worth about 30k more than I paid for it. The way im seeing it is I never bought it with the intention of making money and its never going to be worth less than I paid for it so I might as well drive it. Your a long time dead and a lovely orange GT3 wont be much use when im 6 feet under..

Spot on drive the nuts off it as there are so many saddos now that hide them away without using them for the right reasons.

I sold my RS to get a car I can drive regardless of mileage etc. As you say life too short

[ttdan]

keep it lit said:

STANDARD ! ^




... but not in this weather

Why no wheels? Anti theft device or are you under there with a toothbrush?

[jackal]

keep it lit said:

STANDARD ! ^




... but not in this weather

Lol, looks like a sacred temple

[keep it lit]

ttdan said:

Why no wheels? Anti theft device or are you under there with a toothbrush?

Correct preening.

[ttdan]

keep it lit said:

ttdan said:

Why no wheels? Anti theft device or are you under there with a toothbrush?

Correct preening.

Mine has its face off and away getting new lipstick.

[keep it lit]

jackal said:

Lol, looks like a sacred temple

ha ha I'll post another picture when it's finished