G'day
I keep a close eye on the auction lists and while I agree that US$200K plus
is a lot to pay for BN7 Mk2 especially when it's a long way from original.
Personally I wouldn't buy any Austin-Healey that's painted in a metallic
grey over red, but then again I don't frequent such auctions as a buyer.
However I have attended such auctions and have found the atmosphere at such
events to be charged with excitement and expectation. People go there to see
the Ferraris bring the many millions that they are currently bringing. Some
are genuine enthusiasts while many are investors who know that $$ spent
today will be worth $$$$ tomorrow. Such cars are restored in attractive
colours that appeal to the investor, not the knowledgeable enthusiast.
The excitement at such auctions is palpable and $200K to an investor, who
has just spent some millions of an exotica is really small change. However
that person knows that properly maintained that same AH when offered at the
same form of auction a year or two down the track will be worth $250K which
is a return of 25% return over two years. Not a bad investment if you just
look at the figures, plus while I don't know what it's like where you are,
it's tax free in this country.
That car would have not been bought by an Austin-Healey enthusiast, but an
investor. Later it will be sold and depending on where the greatest return
at the time the $$$$ may go into wines, paintings or even Scotch whisky.
We have to face the fact that Healeys and Austin-Healeys are very much in
the food chain of international investment objects.
Hoo Roo
Patrick Quinn
Blue Mountains, Australia
-----Original Message-----
From: Healeys [mailto:healeys-bounces@autox.team.net] On Behalf Of Tom Felts
Sent: Wednesday, 20 August 2014 8:58 AM
To: Steven Kingsbury; Randy Hicks
Cc: healeys@autox.team.net
Subject: Re: [Healeys] Monterey Auctions
they are going crazy! A 66 E-Type OTS just sold at auction for very close
to $300K-------CRAZY.
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