Resale Value?

[superbb]

First off, I'm in the Midwest of the USA. I am real interested in building and owning an Ultima GTR, and although it's a great bargain, it is still a lot of money for me to swing at this point. This idea popped into my head the other day to build one and sell it, essentially turning my spare time into a few extra dollars (hopefully!), and helping me to afford one of my own. I'm sure there are many of you here that could tell me if this is a realistic plan, or can give me a reality check.

Thanks,
Matt

[x19.driver]

Uhhh, if you can't to afford to build one for yourself, how can you afford to buy one and build it in order to sell it?

[JoulesCanAm]

Get real.... A reasonable quality build is going to require a $75 - $100K investment. Builder invested the latter and just sold his for $55K 99% complete, just requiring a few minor finishing touches.

Julian

[superbb]

Wow, well in that case I guess I should just keep an eye out for a used one. I see one on ebay right now for 169k, maybe they are dreaming or looking for a sucker?

http://cgi.ebay.com/ebaymotors/2010-Ultima-GTR720-...

Anyway, thanks for sharing this example situation.

JoulesCanAm said:

Get real.... A reasonable quality build is going to require a $75 - $100K investment. Builder invested the latter and just sold his for $55K 99% complete, just requiring a few minor finishing touches.

Julian

[GTRCLIVE]

I think alot of us where under the impression that we might be able to sell for more than it cost us to build in Parts etc.. But it seems only the factory are able to sell above the 50K Pounds bracket...

I sold my GTR for about a 5K Pounds loss. The build is great to do your self but the reality might be that if your just into the Driving and owning experience then It might be better to get a second hand one.

I'm a "build it" kind of guy and would always find some thing that the builder missed, that would bug me to death.... but that's just me....

I'm in Alberta drop me a email if you want... Have built 2 complete cars and worked on loads of others..

[Stig]

GTRCLIVE said:

.. But it seems only the factory are able to sell above the 50K Pounds bracket...

It depends largely on the spec/desireability of the car, but most of all, on finding the right buyer! My GTR went for over the £50k threshold by some margin.

[V8 Vum]

Think the guy selling that 720 is trying to hook into the 'Oh-so-much-money-I-don't-know-what-to-do-with-it' brigade ...and no warranty? Jeez!
Is that normal in the States?

Even if I had the dosh...would I, without warranty....not a chance!

Mind you, if some well-known film-star-numpty bought it, and it is seen on the news, then that would be a result for the Factory! ...so, go on, you film-star/ rock-star people! Go get a test drive today!

Keith

[pilbeam_mp62]

Stig said:

GTRCLIVE said:

.. But it seems only the factory are able to sell above the 50K Pounds bracket...

It depends largely on the spec/desireability of the car, but most of all, on finding the right buyer! My GTR went for over the £50k threshold by some margin.

If you build your car properly, using NEW parts, to the correct spec., then it will sell for well over £50k....My car sold for over £60k. People are always prepared to pay for quality, and if you skimp on the build (or, IMHO, stray TOO far from factory spec.) then you will reduce the size of your potential market when you come to sell.

Regards

[JoulesCanAm]

superbb said:

Wow, well in that case I guess I should just keep an eye out for a used one. I see one on ebay right now for 169k, maybe they are dreaming or looking for a sucker?

Are you set on a GTR or would you consider a CanAm? I will sell my CanAm for $90K, it's a less than 2K miles professional build by Brammo Motorsports, 600HP AS aluminum block, dry sump engine with Kinsler EFI mated to a beefed up CMS G50/52 with spray bar and cooler. Build cost was close tp $140K. Only reasons I am selling are a) I want to get a Lola and go vintage racing and b) I won't get it into Canada when I have to move back at some point.

Julian

Edited by JoulesCanAm on Tuesday 26th October 16:27

[superbb]

Thanks for the offer but I'm not going to be in financial shape to buy for another year.

JoulesCanAm said:

superbb said:

Wow, well in that case I guess I should just keep an eye out for a used one. I see one on ebay right now for 169k, maybe they are dreaming or looking for a sucker?

Are you set on a GTR or would you consider a CanAm? I will sell my CanAm for $90K, it's a less than 2K miles professional build by Brammo Motorsports, 600HP AS aluminum block, dry sump engine with Kinsler EFI mated to a beefed up CMS G50/52 with spray bar and cooler. Build cost was close tp $140K. Only reasons I am selling are a) I want to get a Lola and go vintage racing and b) I won't get it into Canada when I have to move back at some point.

Julian

Edited by JoulesCanAm on Tuesday 26th October 16:27

[Jp ultima]

I have been told that my dads workmate, after seeing my dad's screensaver of a bright yellow gtr (ours will be green) and asked him about it. he then told My dad he had just bought a complete race spec gtr for £60k (right now about 110k dollars.) that was about £8k/14k dollars more than the original owner bought it for. that gives me the impression that if you look hard enough you will find a cheap one.

[spatz]

yes pretty much you can get one what the part costs are, if you want a new from the factory that is another story.