Danny Rendleman wrote:
>
> This might or not be an interesting thread: How is the value of our
> cars decided? By an appraisal? By how much we have in them? By how
> much they mean to us? This week I had my 74 appraised for insurance
> and was told my $2450 vehicle was worth $4500. Which is close to
> what I have in it after a front end job. But would I sell it for
> that? What would you sell yours for? And why? Obviously, DIY is
> hard to put a value on, as is love. But...
AHHHH, good question!
Having recently sold 2 LBCs, I can say that you do not get what you put
into them.
I had around $7,000 into the Mini, it sold for $2,000 after asking
$5,000 for over a year. I took a $5,000 lose. But I it was the second
most happy day in Mini ownership that I ever had, the first being the
day I brought the thing home.
I also recently sold a Bugeye, I over restored it, I know this because I
put what I thought was the best of everything in it. Being over restored
I was affraid to use it therefore I sold it for about what I spent
restoring it. The price was basically parts. Labor, 7 years worth, was
not included. So all I lost was my own time but I did learn a valuable
lession.
On the other hand I have made money on our low end LBCs. I pick up dead
Spridgets for $200 or less, get them running and resell them for up to
$1500 depending on their condition.
I am not getting rich at this, in fact I'm positive the loses out weigh
the profits many times but I am having a good time doing it.
Another example in my garage is my 59 Austin A40 Farina, one of only 12
(so I'm told) that have been imported to the US. Some one asked me what
I would sell it for, I thought a minute and said $10,000! Then I asked
that person if he would pay that for it, his answer, "are you nuts?"
I'll give you $2500 tops for it. I told him that's why it is NOT for
sale!
The true value of our cars is in the "fun per mile driven factor"
What other car made today can turn as many heads, feel the road the way
ours do, sound the same as ours, leak when it rains, drip oil all over
the place, and keep us worrying about every strange noise we hear?
Certainly not some beige jellybean!
The only way we will get big bucks for our LBCs is if some drug dealer
sees it, happens to have a suitcase full of cash with him, and stops you
on the street and offers you 20K + for your pride and joy. If this
happens, take the money and run. FAST!
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