Price of "Bs" going UP!

[PAUL161]

Just thought you'd like to know that I was just offered $21,000.00 for our 72 "B". Yes, I turned it down and No, it's not for sale. But I love the offer! /ubbthreads/images/graemlins/thumbsup.gif /ubbthreads/images/graemlins/thumbsup.gif PJ

 

[rick_ingram]

Someone from Nigeria?

/ubbthreads/images/graemlins/grin.gif

 

[Mickey Richaud]

Send him over here! (Just kidding.)

There's a '70 or '71 B on a car lot near the house for $3500. Haven't looked at it, but when I asked about it, the owner of the lot said he had traded it for a tricked-out Eclipse. He said the guy who had it had "upgraded" to an electric fuel pump /ubbthreads/images/graemlins/rolleyes.gif.

Back to your offer - I'm sure you did love it!

Mickey

 

[PAUL161]

My dentist, and he's driving me crazy about it! Maybe I should sell it to him and get some of my money back. I think I've put at least one of his kids through collage. /ubbthreads/images/graemlins/rolleyes.gif PJ

 

[53caddy]

that is a nice offer for a B. I am impressed.

 

[GB1]

Very Nice

 

[jlaird]

Afraid I would have to think long and hard. Long enough, sold.

 

[kennypinkerton]

Yep... I'da had to sell... you could buy 2 more nice ones for that much money.

 

[hottvr]

Any pictures? Love to see it. Hope prices of LBC's stay low and don't skyrocket like muscle cars because of Barret-Jackson.
Rick

 

[tony barnhill]

Paul - take the money & run! You can buy 2 B's for that any day of the week

Or better yet, point him my way...for $21,000, I'll sell him my 1-owner '79!

 

[Guest]

[ QUOTE ]
My dentist, and he's driving me crazy about it! Maybe I should sell it to him and get some of my money back. I think I've put at least one of his kids through collage. /ubbthreads/images/graemlins/rolleyes.gif PJ

[/ QUOTE ]

Ya gotta watch those dentists, they lie! How would I know?


Bill

 

[mgb4tim]

I'd sell it, then find a new dentist. Don't want to find out the hard way that he's not handy, especially when he's got a needle in my mouth. /ubbthreads/images/graemlins/tongue.gif

Really, you could build a brand new heritage shell car, and might have some $$ to spare.

 

[PAUL161]

Well, It's plan to see that he doesn't know the present market value of MGBs. He only saw the car once and evidently fell in love with it. Of course, we all know that dentists are loaded anyway and he wants it badly. But there's a higher authority in our family that says it doesn't get sold. [Get my drift]? On a second note though, what controls the price of our little cars anyway? We do! And, if we all thought that way, we would ask a little more in price to help compensate for the hundreds of hours we spend on restoring these little gems. Not even mentioning the $$$$$ out of pocket. A photo enclosed. /ubbthreads/images/graemlins/cheers.gif PJ

 

[DrEntropy]

Quite pretty, Paul! Tell him he needs a Boxter and wait 'til it's out of warranty six months... HIS management department will demand he get rid of it...

you could have a B ~and~ a Porsche (cheap)! /ubbthreads/images/graemlins/devilgrin.gif

 

[kennypinkerton]

/ubbthreads/images/graemlins/thumbsup.gif Tell me how I can get one for $20 or less /ubbthreads/images/graemlins/jester.gif

 

[Guest]

[ QUOTE ]
Of course, we all know that dentists are loaded anyway...

[/ QUOTE ]


They are??? Nobody told me that!


Bill, DDS

 

[R6MGS]

My Dentist drives a Camaro /ubbthreads/images/graemlins/jester.gif

I've kept a close eye on the LBC market since the 70's.....and it's true that prices have gone up, even recently most of our little treasures have seen an increase. BUT alot of this is kind of a 'false increase' a few owners feel their car is of a certain value, they advertise it at that value and of course in a limited market influence the prices of similar vehicles. Problem is buyers are rarely willing to go along with this and the majority of these higher priced cars, despite how nice they might be, see very little interest and slowly the owner brings his price down until the car is sold.
Another factor is demand...As the people that remember these cars from when they were new reach an age where they are no longer interested in buying new toys and projects the amount of buyer out there looking for these things is decreasing. Sure there are younger guys getting into the hobby for their own reasons, but not in the numbers that we saw 10-15 years ago....Then I could sell an average condition TR6 or MGB with one newspaper ad without any price negotiations...The demand was just that high.
See, unlike the muscle cars we don't have a bunch of shows promoting our cars to younger generations.

 

[PAUL161]

[ QUOTE ]
Really, you could build a brand new heritage shell car, and might have some $$ to spare.

[/ QUOTE ]
Well, It seems that you should take a closer look at the cost of doing a Heritage car. By the time you get the shell in your shop, with shipping and all, you'll have spent around $8000.00 already and you haven't even started yet. The paint job alone could run from $3000 to $6000. I thought about doing one and to do it right, every part in the car should be rebuilt to zero time or replaced with a new exact duplicate with original manufacture markings. The cost to do this would be horrendous! I'm not talking about "hot rodding it up" with a variety of parts from any year. If you want to build a 72, then you use nothing but 72 parts or what ever year you want the car to be. You would be astonished at the final estimated cost. /ubbthreads/images/graemlins/crazyeyes.gif PJ

 

[Guest]

[ QUOTE ]

Another factor is demand...As the people that remember these cars from when they were new reach an age where they are no longer interested in buying new toys and projects the amount of buyer out there looking for these things is decreasing.

[/ QUOTE ]

My take on this might be slightly different. As we Boomers come of age, myself being the oldest (60), we (even us rich dentists) might find ourselves with some disposable income and want to relive the days of our youth. This will reflect from the top of the market (Big Healeys, Jags, etc.) down to the lower levels (MGs, TRs, etc.) and we see these cars being sought out in record numbers. Taken into consideration the value of the dollar (both US and CA) and inflated values of the LBC, the shear ravages of time causing many examples of collectable cars to dimenish, I see the initial cost of acquiring the car of your dreams as going up, up, up. I have kept a very close watch on the value of the average TR6 (and other TRs) and have seen them essentially double in the last 5 years. The average cost of any rebuildable TR6 seems to be somewhere in the neighborhood of $5K, with decently restored cars averaging in the low teens. Nicely done models go for $20K and up.
Prices going down is not an option. Indeed, the NASCAR crowd seems centered on Harleys and American Muscle, but those of us that think always gravitate back to classic cars that offer a bit of panache and verve. Methinks that the market is just opening up and the numbers interested are just starting to swell.



Bill

 

[jlaird]

The simple fact is that more folks after a limited number of items is going to drive the price up and up.

By limited I mean no more new ones and fewer old ones daily so the number available is actually going down while the number of folks after them is going up.