Is it worth it?

General Chat with an emphasis on BMC Minis & Other iconic cars of the 1960's. Includes information on MK1 Action days.
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surfblue63
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Joined: Wed Jan 12, 2011 9:13 pm
Location: NE England

Re: Is it worth it?

Post by surfblue63 »

The only way to assess what a car is worth is to go and view it. Poor cars can look good when photographed and bad pictures can make a good car look poor.
If you want to see the true values, then watch the auctions for about 6 months.
In the case of your 1993 low mileage example, I guess the seller thinks that the low mileage justifies the higher price when compared to an average mileage car. There are a lot of low mileage late Minis about and the asking price is usually £15,000-£20,000, and in some cases more. With this type of car you need to realise that if you use it, it will lose money. If you do not use it, then you need to store it properly and also if you do not use it, then what is the point of having it?
If you are looking to buy a car, then go and view as many as you can to get a feel for the market.
And do not forget, the asking price is not the selling price. Some sellers need to sell, and some do not.
:?:
BucksMk1
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Joined: Sun Feb 22, 2015 4:59 pm

Re: Is it worth it?

Post by BucksMk1 »

Interesting replies, thank you.

I already have a Mk1 which I have owned for 24 years and set me back £120 at the time. It's a matching numbers, 1 prev keeper '65 A Super Deluxe. 61k and painfully original. Currently about £6k into a preservation with an estimated £7k to go.... ish... mostly on panels and paint.

The value of the car to me is significant, so much so that I don't intend to part with it any time before I'm put in my coffin unless circumstances left me absolutely no alternative. I'd hope that over the coming years it'll increase in financial value as it'd be good to know that if needed my investment has returned some gains. Once back on the road it'll be interesting to see what agreed value the insurers offer.....
Striped shirt
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Joined: Tue May 31, 2022 12:33 am

Re: Is it worth it?

Post by Striped shirt »

Here is a tail that honestly happened today.
Opposite my house is a private block of garages. I've got a couple there, had them for 20 odd years. One of the garages next to me I have never ever seen open or seen anyone open it. It has always been said that 'there is an old Mini in there'
So... This morning there was a fella there and it was open and bugger me, there is a Mini in there.
Could it be a lost works car?? An original '59 or a 970S....No is was a W reg 850. Very nice in it own way, but not the treasure I was hoping.
The story goes the fella crashed it about 25 years ago when he was 18, put it in the garage and there it stayed.
The point of this tail is that the fella, nice chap, is not around Minis or classics other than watching the TV shows. He intends to get usable, fair enough. But he said, 'it's worth doing, as its been valued at 10k in this condition.'
It's obviously not and I'm not having that conversation with him, but the point is the world outside the 'scene' simply accepts whatever they are told and so it becomes a fact and that is slowly absorbed into the outside world of pricing.
Old English White
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Location: Southern England

Re: Is it worth it?

Post by Old English White »

People are easily led - especially if it suits them. Thing is, if he's been paying rent on that garage for the last 25years, how much has he got to get for that old Mini even to get the rent back :shock:

An old colleague of mine once asked me to help him sell an Austin A40 Farina. It had been sold new in the early 1960s by the garage he and I worked in and because he was the mechanic who had generally serviced it, she gave it to him when she gave up driving in the 1970s. He paid rent on a council lock-up garage and stored it for well over 20years before realising that he would never do anything with it. Engine was seized, brakes were seized, tyres were perished and flat. The body was still sound and the seats still had the original plastic covers on them but the car was only worth a few hundred £. Nothing like the money he'd paid to store it poor fella :(
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WMU 211G
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Location: Warwickshire

Re: Is it worth it?

Post by WMU 211G »

The logical conclusion of the old ''it'll be worth loads one day, then I'll get round to restoring it'' scenario... a very early Vignale built Mk1 Jensen Interceptor in Walcote near Lutterworth, gradually sinking into the pavement until most of it had to be scooped up with shovels...

WALCOTE s-l500A.jpg
WALCOTE s-l1600C1.jpg
WALCOTE s-l1600Mqq.jpg
I used to drive past it regularly for years wondering if it would ever be restored, in the end it was sold to a bloke who paid £1500 for it and it's now an ornament sitting in a field!
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Nidge

1968 Mk2 Morris Cooper

1968 Mk2 Morris Cooper S

1992 Maserati Biturbo 430 2.8 litre V6
peasantslife
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Joined: Thu Jun 29, 2017 2:48 pm
Location: Pen-y-bont ar Ogwr (S Wales)

Re: Is it worth it?

Post by peasantslife »

I did wonder what had happened to it a month ago when I took that road from the motorway....I owned the same MK2 twice, in late 80's and mid 90's. £1500 first time and £2500 second. I'm afraid I do like big engine auto's.
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Peter Laidler
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Location: Abingdon Oxfordshire

Re: Is it worth it?

Post by Peter Laidler »

The very WORST offenders are those '.....I'm going to restore it one of these days.....' dreamers. They rarely do but imagine that while the condition of the car goes down, the price goes up. Striped Shirt (above) ought to be honest with the W reg 850 (is it W prefix or W suffix ?) and tell him the reality of the situation and more so, the value NOW versus the cost of restoring it against the value when restored. And let the chickens come home to roost.

I have got the same scenario with a local alice-in-wonderland, 'going to restore it one of these days.....' dreamers. That's got me going now.... As a true get-up-and-go bloke. I'll feel pissed off all day now!
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Costafortune
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Location: Sheffield On Thames

Re: Is it worth it?

Post by Costafortune »

There was an Anglia 105E sat on the drive of a house in Abingdon for years - decades even. It was as rotten as a carrot and various folks, myself included on behalf of an Anglia owning mate , enquired. As the years rolled by, the 'gonna do it up one day' stories became increasingly bizarre. The story I was told involved fitting Sierra Cosworth running gear.

Yeah mate. Riiiiiighht....... :roll: :lol:
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WMU 211G
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Re: Is it worth it?

Post by WMU 211G »

peasantslife wrote: Sat Sep 17, 2022 10:43 pm I did wonder what had happened to it a month ago when I took that road from the motorway....I owned the same MK2 twice, in late 80's and mid 90's. £1500 first time and £2500 second. I'm afraid I do like big engine auto's.
It's been gone a while now, within a couple of weeks it's spot on the pavement was filled by a black Bentley Turbo, not sure if it's there now though.
Nidge

1968 Mk2 Morris Cooper

1968 Mk2 Morris Cooper S

1992 Maserati Biturbo 430 2.8 litre V6
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Peter Laidler
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Location: Abingdon Oxfordshire

Re: Is it worth it?

Post by Peter Laidler »

Houses in Abingdon..... The white Anglia was joined by an MGF for a while and both went to the scrap yard at Drayton. At Ladygrove, there was a nice looking (?) Sunbeam Stiletto thinggy in the drive alongside the house outside the garage that was full of crap.....

Oh, don't get me going about these day-dreamers.......
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