Topics and replies.

Sale Prices

Postby Godfrey Dennis » 24 Jul 2017 14:50

I notice that there is an RV8 for sale on e-bay at a price of £50,000, which is quite astonishing. OK - it has a purported original mileage of 687km on the clock, is a one owner car, but £50k seems way over the top. The car looks to be a later model, Woodcote Green and imported from Japan. It is being sold by a garage called Car Warehouse. Do you think there will be a buyer out there somewhere?
Godfrey Dennis
 
Posts: 6
Joined: 18 Dec 2012 08:13
Location: Preston, Lancashire

Sale Prices

Postby Victor Smith » 25 Jul 2017 08:01

Godfrey,
I was attending a funeral in Somerset yesterday but saw your V8BB posting. I also picked up my emails on my iPad and saw that several members had also expressed their amazement at the price.
@ 7:13 AM Ian Quarrington
Sent an email saying “WOW, whatever drugs this fellow is on can I have some please?? Note his comment - classic cars are better investment than property in this current financial climate.”
@ 10.01 AM Debbie Brading
Sent an email reply saying “The area I have highlighted in blue is slightly more worrying!!! - It has the Original Michelin Pilot Tyres fitted with the date 8/1995 on them with all the pimples still very present!”
@ 12.00PM Richard Withington
Sent an email saying “Just noticed an RV8 on eBay at £50,000 with only 687 km on the clock, but is this a record for an RV8!?"

As I was driving back I was thinking about this car and that if the trader were able to find someone with an elastic wallet prepared to pay £50,000 then if the buyer used the car and clocked up say only 10,000 miles then, based on prices we have seen for Condition 1 Plus RV8s, the reduction in value of the £50,000 car would effectively cost them around £2.40 a mile! But the advertiser suggests the car might be "put away" whilst your money grows! Pricing an exceptional classic car like an MGV8 is always something traders enjoy just as much as they enjoy composing racy text for their adverts using material found in MGV8 books and online. Clearly here several areas of concern arise based on disclosures in the advert that:
> "Build number 1931" - assuming the advertiser means the VIN number then it would have been manufactured towards the end of the production run. Elsewhere in the advert refers to “Stock number 002070” which suggests the VIN might be 2070. Both VIN 1931 and 2070 were Japan spec RV8s in Woodcote Green.
> "A five-speed LT77 gearbox, derived from the Rover SD1 was used". The advertiser may not be aware that after VIN 0640 the R380 gearbox was used rather than the LT77S.
> “You could put this car away and your money will grow”. Combined with the trader’s suggestion that aged tyres with pimples are an attractive feature clearly they also suggest the car might be put away as an investment asset rather than used for pleasure as most classic car enthusiasts would want to do.
> "Has the Original Michelin Pilot Tyres fitted with the date 8/1995 on them with all the pimples still very present" - quite why aged tyres are a selling point will be a surprise for many but maybe the advertiser feels some buyers might find pimples turn them on! Unless the advertiser feels the car might go to a museum then anyone intending to drive the car on the road or a track will need to replace the tyres for a new set because the age related effect on the rubber, and after many years on the structure too, would make driving on the original tyres very unwise.

Has anyone seen this car and inspected it? You can see the advert at:
http://www.ebay.co.uk/itm/MG-RV8-MGRV8- ... Swl5dZc01~
Victor Smith
 
Posts: 479
Joined: 06 Dec 2012 15:46
Location: London SW

Re: Sale Prices

Postby Christopher Allan » 25 Jul 2017 09:52

Hello Godfrey and Victor

I can confirm that the Gaydon RV8 build records show that VIN 2070 (manufactured early Oct 1995) matches with body shell #1931.
Victor, as you mention, this was a Woodcote Green Japan spec' car.

Chris
Christopher Allan
 
Posts: 7
Joined: 19 Feb 2016 22:53

Re: Sale Prices

Postby Angus Munro » 27 Jul 2017 08:25

Classic cars have become an investment largely due to the combination of pension release funds and interest rates on savings not even keeping up with inflation. The medallion men within our society were quick to spot the opportunity to promote the concept of the enjoyment of savings while enjoying considerable profit, not least for themselves.
This concept may be about to change however. It has just been boldly announced that from 2040 there will be a ban on the sale of petrol and diesel cars. I'm assuming that means new vehicles but whether it does or it doesn't the mind set of the public, and certainly the younger public, may well be conditioned to reject the idea of the remaining vehicles owned and driven as socially acceptable. Sadly many of us will not be around in 2040 but the conditioning of the younger public mind began yesterday with the 2040 ambition announcement.
Angus Munro
 
Posts: 21
Joined: 18 Dec 2012 15:36

Re: Sale Prices

Postby Simon Austin » 28 Jul 2017 03:08

If I thought this was a realistic price for an RV8, I wouldn't have sold #590.

I agree with Victor regarding the original tire comments. If anything, that should be a bargaining chip as I'd say "looks like it'll need new tires. I'll have to consider that in my offer....".

I've never understood the thought process of buying a limited production car then not driving it. I suppose some think it will be an investment and can afford to do this. I buy cars to use as designed....drive them.
Simon Austin
 
Posts: 39
Joined: 22 Dec 2012 04:56
Location: Surrey, British Columbia, Canada

Re: Sale Prices

Postby Chris Hunt Cooke » 11 Aug 2017 19:08

I suppose it is much the same as buying a very old bottle of wine, a famous vintage from one of the top houses, which actually you never expect to drink and in all probability is quite undrinkable anyway. Certain things become valuable simply by being rare, quite regardless of whether they can be used; a VC will always be worth much more than a campaign medal because of its rarity, but neither have any actual use.
Chris Hunt Cooke
 
Posts: 2
Joined: 13 Dec 2012 23:52


Return to V8BB Messages

Who is online

Users browsing this forum: No registered users and 4 guests