Russo Steele Auction - BJ8

[Marvin Gruber]

Steve Byers gave me this link. Looks like my old GMB car is going up for Auction in Scottsdale.
https://www.russoandsteele.com/collector-car/1967-Austin-Healey-BJ8-3000/75322

Marv

 

[HealeyRick]

Sold for $49,600.00 according to the website. Seems like a really low price for what appears to be a nice car.

 

[drambuie]

I agree, it sold at a very low price! Very beautiful Healey, however that red/gold color combo throws me off! But on the other hand it's nice to see a different color combination for a change!

 

[AN6-TX]

Just curious, who did the restoration?

 

[Editor_Reid]

The color looks far, far darker than original, or was it just the lighting where they took the photos?

 

[MarshgrassA]

Guess I should have gone to Scottsdale instead of trying to talk to the folks in Kissimmee. I have only seen 1 Gold Healey and it was at our show in October ( not a registered car but parked nearby). Gold with Red and drop dead beautiful. Do not know who owns it but would love to see it again.

 

[Brinkerhoff]

Marvin says its his old car , did you do the restoration also Marv?

 

[bighealeysource]

Wow, that was a great buy for someone. Certainly could not reproduce it for that !

 

[Marvin Gruber]

I did the restoration about 5 years ago. Very surprised at the sale price. He paid me more than that for it. Wonder where it went.

BTW color looked a lot darker, must have been the lighting. It was the correct paint,

Marv

 

[Brinkerhoff]

I always like it when a speculator loses money on a car , it brings balance back to the market.

 

[rjc157]

If that car only sold for 49 then people on ebay need to take a closer look at what they have seems like a new benchmark for these cars

 

[drambuie]

Seems to me, The auctions in America and the high roller bidders are not that informed and lack knowledge when it comes to British cars. I have have seen very un correct or not the most desirable Healeys go for much to high of price....and the other way around! I do think the auctions in Europe have a much better handle on current values and the bidders are more knowledgeable when it comes to Healey's and other British cars. It's very possible I may end up selling my Healey to a overseas buyer for more money when the time comes to sell.

 

[Keoke]

always like it when a speculator loses money on a car , it brings balance back to the market.

Well if he can afford to initially pay more than the selling price for the car, he can probably also afford to write his loses off. Maybe that was what he was doing.????

 

[Brinkerhoff]

I disagree. I think it sold for what it is worth based on the pictures given. The door fit alone does not push this car into the premium price arena and I think its indicative of a better educated buyer in the market. Just because two cars can look pretty much the same , doesn't mean they are even close to the same condition especially at this level. I think the seller thought he had a better car than he did.

 

[christophe]

I disagree. I think it sold for what it is worth based on the pictures given. The door fit alone does not push this car into the premium price arena and I think its indicative of a better educated buyer in the market. Just because two cars can look pretty much the same , doesn't mean they are even close to the same condition especially at this level. I think the seller thought he had a better car than he did.

Other recent auctions would beg to differ. I dont like the color, but it looks like it was a very well restored car. However, i have seen many a car that looked well restored in photos turn out to be turds in person. I have no room to talk though, i let my father pay this much for a turd at auction that ended up needing a full restoration...should have gone with him to look at the car!!! So, that goes back to drambuie's argument, that a lot of people in the U.S. dont know shart about British cars and therefore, at times, bid way over the market value. I agree that this is the case a lot of times, but well restored healey's are still bringing very good money, if you have the right color combo! Two 100's brought 65 and 75 at auctions this month. the 3000 series at the recent barrett jackson auction brought decent money as well and they looked far less restored than this car.

 

[andrewss]

Guys,

I thought that I would give you the heads up on current Healey values here in Europe by providing a link to a European site....

https://www.autoscout24.com/ListGN....e=15670&model=16005&pricefrom=1000&ustate=N,U

These are mainland Europe cars as the UK look mainly for RHD cars.

I buy cars in the US quite often for clients here in Europe. If you want an indication of your cars worth here you have to add the following costs and then divide your dollar cost by the current exchange rate of 1,35.

Transport from you to the nearest sea port - $300 to $500
Container on boat costs - $1000 - $2000 shared or single container
Insurance - $100
Transport from the boats arrival to you $400
Import duty of 10% on the purchase price, carriage, and insurance (Holland being the exception where you can avoid import duty on most oldtimers)
VAT - 20 to 23% on the total of the above costs.

So based upon this car sold for $49,000

Inland US transport $500
Container $2000
Insurance $100
10% import duty $5100
VAT at 21% on the total cost to land the car $11907
Transport mainland Europe $400

Total cost - $69000 / 1,35 = €51000 Euros

Based upon the photos and my experience of the market here the value of this car (or to be more precise the price I would try and sell it for) would be around €60,000 Euros.

Food for thought gentlemen..

 

[Bob_Spidell]

... Food for thought gentlemen..

My thought is, 'Thank goodness our forefathers had the foresight to buy 90%+ of Donald Healey's products.'

Smart dudes, them forefathers.

 

[why]

Wow, that was a great buy for someone. Certainly could not reproduce it for that !

I hope anyone thinking about restoring a junker or buying a nice driver will have that comment branded into their brain.
This whole "investment" approach to our treasured jewels maks me a bit sick,

 

[Marvin Gruber]

Looks like my old healey is now on EBAY for $74k, description is a bit overstated. Its a decent car but anyone wants more detail just PM me.

Marv

 

[why]

something, especially an old car, is worth what someone DID pay for it. All the nonsense about figuring out value if only........is just that, nonsense. When I sold my Elite and TC I happily took about 15% discount to asking price to the first truly serious enthusiast the folk in respective clubs confirmed was just that. Sort of like when people ask me which car is my favorite the usual answer is: "which one of your children do you like best." A good home is worth more than a few extra bucks.