MGB Original MGB Owner - How Much should he ask ?

[Don Elliott]

The owner of a 1980 BRG MGB with 25,000 miles on it wants to sell it and doesn't know what price to ask. He paid $18,000 for it new in 1980. Five years ago, he was awarded 2nd in the judged concours at Stowe Vermont and it has been sitting in his garage for the last 3 years.

How much should he be asking ?

Don Elliott, Original Owner, 1958 TR3A

 

[Steve]

I got $11k for mine, Pageant Blue with the same miles.... I was the third owner. It really was mint, sounds like his is very similar, worth a little bit more if the roof is in good shape.

 

[tony barnhill]

He paid too much for it new....my '79 was a little more than half that new with OD, wire wheels, luggage rack & factory hardtop! But, what he paid new is irrelevant.

And you need to discount it for the 3 years its been sitting...all the hydraulics will have to be gone through, hoses, possibly new tires, drain/drop/clean gas tank, rebuild Zenith Stromberg, etc. before it can be put on the road depending on how he prepped it for storage.

$10,000 to $12,000 is a good price range since its not an LE.

 

[rick_ingram]

He paid too much for it new....my '79 was a little more than half that new with OD, wire wheels, luggage rack & factory hardtop! But, what he paid new is irrelevant.

And you need to discount it for the 3 years its been sitting...all the hydraulics will have to be gone through, hoses, possibly new tires, drain/drop/clean gas tank, rebuild Zenith Stromberg, etc. before it can be put on the road depending on how he prepped it for storage.

$10,000 to $12,000 is a good price range since its not an LE.

Yup.

If he paid $18k new, he got raped. $8k to $10k new was the norm.

 

[Don Elliott]

Maybe I'm wrong on what he paid for it new. What he wants is some idea of what to ask for it now. There was a gray 1956 TR3 (smallmouth grille) that was offered by an original owner from Pennsylvania on E-bay last month. It only had 32,000 miles on it from new. It went for $39,100.

Are MGBs worth less than TRs?

BTW, when I bought mt TR3A brand new in May 1958 I paid $2550 for it with overdrive. And when I drive it today, I feel I'm still 20 years old.

 

[Silverghost]

A TR3 in 1958: $2550
A TR3 in 2008: $32,500 (?)
The feeling the original owner gets when he still drives it: PRICELESS!!! :laugh:

 

[RTR52nd]

If he were closer to my neck of the woods, I'd say about $150 would be perfectly reasonable...

 

[swift6]

Maybe I'm wrong on what he paid for it new. What he wants is some idea of what to ask for it now. There was a gray 1956 TR3 (smallmouth grille) that was offered by an original owner from Pennsylvania on E-bay last month. It only had 32,000 miles on it from new. It went for $39,100.

Are MGBs worth less than TRs?

In general yes, there were many more MGB's made than all the TR's combined, including the wedges. There is also a huge difference between a 1956 car with 32,000 miles vs a 1980 car with 25,000 miles.

 

[AngliaGT]

I don't think anyone would have paid $18K
for an MGB in '80.

- Doug

 

[toysrrus]

Hello Don,

I have to agree with the majority. Your friend payed "WAAAAY" too much for the MGB. (18K - WOW)!!

Relative to todays selling prices; It probably would sell for $8K / $12K max.

Yes; The TR3s are worth much more! The "Primrose Yellow" TR3 that your talking about was a real beauty (I have it as a screen saver) but I would`nt have pd. $39K for it but thats what it sold for! Its in the eyes of the beholder & their pocket book.

Just jump onto ebay & you`ll get a pretty good idea of the avg. selling prices for `80 MGB.

Regards, Russ

 

[PAUL161]

Maybe I'm wrong on what he paid for it new. What he wants is some idea of what to ask for it now. There was a gray 1956 TR3 (smallmouth grille) that was offered by an original owner from Pennsylvania on E-bay last month. It only had 32,000 miles on it from new. It went for $39,100.

$18,000.00 for a 1980 MGB when new? Should be more like 7 or 8. I agree with the rest in saying the figures are definitely off! Your comparing Apples to Oranges here. You can't compare what someone possibly got for a Triumph to what someone should ask for an MGB. Each car should be judged on it's own merits and a close inspection by someone who knows what to look for is really the only way to determine this. That's like saying, I got 50Gs for my 72 Jag, so my 72 MGB should be worth the same. Doesn't work that way and I'm glad it doesn't!

 

[WA1KWA]

I paid a little over $14,000 for a new BMW 320i in 1981, There were plenty of left over 1980 MGBs at the time they couldn't give away & they were significantly less than the BMW I bought.

Colin

 

[JacksonMG]

Canadian exchange rate make that much of a difference?

 

[tony barnhill]

Canadian exchange rate make that much of a difference?

Heck no! Your Looney is worth more than our dollar!!

 

[RickB]

Think about it - remember what the exchange rate was in 1980?
One dollar Canadian was about 50 cents US.
$9K US would have been $18K Canadian.
His numbers are right, for 1980 Canadian currency.

How that relates to value now? Not a whit.

The value is what someone is willing to pay for it now, hasn't got a lot to do with how much was paid back in the day.
Has more to do with how many of them are available in that condition and how many people want them.

You have to find current / recent sales of cars in that condition preferably close to your area.

 

[rick_ingram]

Think about it - remember what the exchange rate was in 1980?
One dollar Canadian was about 50 cents US.
$9K US would have been $18K Canadian.
His numbers are right, for 1980 Canadian currency.

You're correct. Without specifying Canadian dollars, I (incorrectly) assumed US dollars.

My bad.

 

[tony barnhill]

Think about it - remember what the exchange rate was in 1980?
One dollar Canadian was about 50 cents US.
$9K US would have been $18K Canadian.
His numbers are right, for 1980 Canadian currency.

You're correct. Without specifying Canadian dollars, I (incorrectly) assumed US dollars.

My bad.

As did I...just goes to show the fallibility of internet conversations!

 

[Roger]

Think about it - remember what the exchange rate was in 1980?
One dollar Canadian was about 50 cents US.
$9K US would have been $18K Canadian.
His numbers are right, for 1980 Canadian currency.

How that relates to value now? Not a whit.

The value is what someone is willing to pay for it now, hasn't got a lot to do with how much was paid back in the day.
Has more to do with how many of them are available in that condition and how many people want them.

You have to find current / recent sales of cars in that condition preferably close to your area.

No, no, no. In 1980, a US Dollar was about $1.20CAD. So 18kCAD was about 15kUSD. It don't add up!

 

[tony barnhill]

Think about it - remember what the exchange rate was in 1980?
One dollar Canadian was about 50 cents US.
$9K US would have been $18K Canadian.
His numbers are right, for 1980 Canadian currency.

How that relates to value now? Not a whit.

The value is what someone is willing to pay for it now, hasn't got a lot to do with how much was paid back in the day.
Has more to do with how many of them are available in that condition and how many people want them.

You have to find current / recent sales of cars in that condition preferably close to your area.

No, no, no. In 1980, a US Dollar was about $1.20CAD. So 18kCAD was about 15kUSD. It don't add up!

Ah, the plot thickens....

 

[RickB]

Well - my memory just doesn't cut it any more.

I see that in 1980 the Canadian dollar was at about 85 cents US.
It has fluctuated a great deal over the years, hitting a low of about 62 cents in about 2002 and now up to 99.6 cents US.