The thing is that I myself could be seen as part of the problem if I take Mark's post literally (though hopefully I'm not ! ). I have always bought and sold the odd Mini, still do if one turns up cheap.
Not in the slightest Pete. I don't think I said anything about dealers or people who buy & sell the odd car for that matter.
I did say that this crazy situation was a consequence of straight forward supply & demand & to some extent people who know squat buying cars as an "investment".
I do however disagree with you as to whether this is a bubble heading towards a crash though. I cannot see for the life of me, how if this situation continues as it has for the last 5 years or so, that early Minis will be the first commodity in history to buck the bubble & crash cycle. I sincerely hope that you are right.
It's like my dad pointing out to the council tax people that his house was not a £700k house, it is an £11k house, as that's what he paid and he has no intention of selling it! Band A. lol.
I paid £1500 for my wrong shelled 66 cooper. (66 Super Shell), cooper parts. Another £1000 or so in parts, including a load of classic rally stuff, 1430 engine, just run in, set of 4.5 TD minilites.
As it has sat in the shed, I would sensibly value it at £2.5k. Anything more is frankly silly. I will still have it after the bubble has burst, which it will. I'd say a decent Mk1 mini in roadgoing order has to be around £4k. A cooper £8k and an S £10k. This bubble is just madness, but it reflects people and their irrationality.
It started going silly when I got badly burned with an £800 64 super. It had a 5 p sized hole in the end of the sill. I got the grinder out and discovered the whole thing (resprayed beautifully) was made out of filler and cornflakes packets. I broke it on ebay and made £1000 clear profit. That was the start of the silly behaviour.
Washer bottles are frankly mad, NOS choke cables at £100 are mad and it reflects the stupidity of people. I assume they are buying these things, because it makes their £8000 car a £16000 car.
Let's get back to some sense. Lots of people are into minis for lots of reasons, whether it be trailering their 59 number 3 around, being excited about their original S, putting a bike head on a 1560, bolting fibreglass stuff to it or whatever. I bought mine because against my advice, my GF at the time bought an 83 City E as her first car. I needed it for work one day and I was working the other end of an exciting B road. The rest is history. Got an early one (I'm a purist), tuned it to it's limit, drive it to it's limit. Blew the engine up.....in the shed!
It appears some people have got on board the game for investment reasons and really, they take something away from all of us.
I (like mark) have got a bit bored of them to be honest, I still own a small part of the rally mini but that will go as soon as the show scene starts.
I have given myself a goal of restoring 3 cars this year and made the plunge monday and bought a Mk1 golf gti, the next one lined up is a 1968 Lancia fulvia - oddly they are both front wheel drive so retain a very minor similarity!
Minis just dont give me the "buzz" anymore....
Just have to make sure I dont get guru-itis and buy a hustler!
I'm with Mark on this one, I'm keeping what I've got, and although I would really like a MK1 1275 S in Surf Blue I know with the normal financial commitments most of of have I wont be able to get one any time soon. I'm lucky to have lots of friends (I think )in the World of Mini's, and to be able to use a car for the occasional Sprint and Hillclimb (road going class, driving to the event, and hopefully home again!) but I don't go to many static shows anymore, I'd rather be driving my 'investment'
the problem with them is that the front is compromised by the height of the engine and spoils the rest of the shape, plus the front arches always look a bit odd
a rear engine marcos with a lower front would look great
theres no beating a gtm for the overall shape i dont think - which is why so many where sold i guess
please note, these are my own, individual sales, nothing whatsoever to do with my employer, minispares
Dean wrote:Prices have gone stupid. Or is it that some people have deep pockets, well a lot deeper than mine
I bought my mk1 off eBay 5 years ago and only set me back £350. Yes it was a non runner and needed a full restoration. but that seems a fair price
Most cars theses days can bring more money stripped for parts, than sold as a whole car, but I know it would never happen ,but I can't see £6000 odd in spares on that car. ( unless it's sold on eBay with " works ,cooper s,Downton,speedwell" written in front of it. )
They say that the reg is worth £3000 odd but don't most cars this age have there reg numbers non transferable, meaning it's worth nothing. So really can't be added to boost the price of the car.
As long as people are happy to pay theses price and continue doing it I can't see it stopping or reducing.
I agree. Prices have gone stupid.
A mini needing quite a bit of restoration is currently on eBay now for around £2200 pounds!
Will post the link later.
Last edited by Mk1Lover on Wed Jan 30, 2013 5:13 pm, edited 2 times in total.
I think mk1's have been undervalued for a long time and needed to go up in price a bit (not as much as they have done) i sold my mk2 s 6 years ago concourse full service history 100% genuine cost a fortune to restore and struggled to sell it for £8000.
Parts are expensive and nos rare parts have always been expensive and always will be as the after market stuff is poor quality,i agree £400 for basicely a jam jar is rather silly.If someone is looking for a mk1 theres one for sale on here now which i think is the right money sounds a good car to me.
If people get their fingers burnt buying cars as investments tuff luck,i don't want other makes of car always had mini's always will and when you start to look at other cars properly you will realise they are as overpriced as mini's except for the rubbish.
The ones i feel will lose money is the muppets paying £10,000 plus for late low mileage mpi's and reshelled cooper and s you can still buy near concourse mk1's for under 10k which think personally is the right price considering properly done restoration costs.
). I have always bought and sold the odd Mini, still do if one turns up cheap.
