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28 Feb 2023, 10:19 (Ref:4145220) | #376 | |||
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As Duddha says one part of this market is like the art one. |
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28 Feb 2023, 10:36 (Ref:4145226) | #377 | ||
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I don't know whether any of you watch the TV programme Bangers and Cash which is about a vehicle and memorabilia auction firm up in North Yorkshire, but they are constantly amazed at the prices that are achieved for the sale of any "hot" Ford, whether it be a Sierra, Fiesta or Escort etc. no matter what state it is in.
They just get sold for really silly money, and unfortunately some of them are just parked up in private warehouses by the new owners to "preserve" them for the future. |
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28 Feb 2023, 10:37 (Ref:4145227) | #378 | ||
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I completely agree with the comments that cars should be enjoyed by driving them and can fully understand how, as the 'values' of the cars increases, the risks of damage, or worse still, being ambushed & the car stolen would severely reduce the enjoyment factor. This is what I meant about the price of the car moving them away from the true enthusiasts (who would enjoy owning & using the car) and just onto investors whose only enjoyment comes from seeing the value of their investment increasing.
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Incognito: An Italian phrase meaning Nice Gearchange! |
28 Feb 2023, 11:48 (Ref:4145236) | #379 | ||
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According to the auctioneer on the day the winning bidder on the RS500 was an online bidder from Dubai, so it might well be small change for them.....
I was equally bemused by X reg Mini Cooper Sport, one family owned, reputedly serviced and MOT'd every year, but with only 734 miles on the clock - 200 or so of which had been added in the last couple of years. Hammer price of £24500. What do you do with it, apart from hanging it on the wall? |
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Richard Murtha: You don't stop racing because you are too old, you get old when you stop racing! But its looking increasingly likely that I've stopped.....have to go back to rallying ;) |
28 Feb 2023, 11:53 (Ref:4145237) | #380 | ||
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On an entirely different topic, MSUK are starting to make a big thing of all Clubs having to have a Club Safeguarding Officer, who must be licenced by MSUK and must be Disclosure and Barring Service checked.
Does anybody else think this is some sort of "gold-plating", except perhaps for those clubs involved in say junior karting, where there are likely to be a lot of under-age yougsters around? MSUK have a team of 3 in the Safeguarding unit! |
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Richard Murtha: You don't stop racing because you are too old, you get old when you stop racing! But its looking increasingly likely that I've stopped.....have to go back to rallying ;) |
28 Feb 2023, 14:17 (Ref:4145264) | #381 | |||
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By the way, Bangers and Cash/Derek Matthewson were in the news yesterday for other reasons! |
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28 Feb 2023, 14:18 (Ref:4145265) | #382 | |||
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What great use of licence holders' money. |
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28 Feb 2023, 18:52 (Ref:4145295) | #383 | |||
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Sent from my AC2003 using Tapatalk |
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Midgetman - known as Max Tyler to the world. MaxAttaq! |
28 Feb 2023, 19:18 (Ref:4145301) | #384 | ||
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I'm always suspicious when during auctions there are phone bidders. If you're show off oriented why would you buy an old Ford for crazy money? Apart from real enthousiasts, an RS 500 is not really interesting imo. Genuine or not.
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28 Feb 2023, 20:47 (Ref:4145310) | #385 | ||
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Don't let us forget the loss that took place at the end of the 80s in the "classic car" market. I had a musician customer that "against my advice at he time" bought a couple of Aston Martin cars at the top whack.
He kept them in a shed under cover for a year and as he wanted to move house he tried to sell them. After a lot of tyre kickers and people effing him about he eventually sold them for almost 100k less than what he paid for them. That was a good investment then !! |
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Balls of steel (knob of butter) They're Asking For Larkins. ( Proper beer) not you're Eurofizz crap. Hace más calor en España. Me han conocido a hablar un montón cojones! Send any cheques and cash to PO box 1 Lagos Nigeria Africa ! |
28 Feb 2023, 21:09 (Ref:4145311) | #386 | |
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Looking at the values or costs of enthusiast encouraged cars can be very puzzling.
The Cossie is extreme, in my opinion, but people will pay similarly silly prices for some old nail or previously (badly) refurbished "thing" that was, allegedly, once owned by some sort of celebrity. And then there is the Restomod arena. The Redux BMW M3 would be an example. It was originally advertised as £330k but must be more than that by now. And from memory you may have to provide an original car to start off with. The special builds of Mk 1 Escorts, Opel Mantas and Chevette HSRs probably start at over £150k and head towards £250k. Even the regular car market is becoming disproportionate. 30 years ago (just to pick an era) a typical "family" car (expectations of what that was then may vary) probably cost about half a typical family "breadwinner"'s annual income. Now, if one is thinking electric future, it may be more like a whole year of income. Something, considering the budgets of the masses, will have to give way. It may not be the amount of cash those in Dubai have to play with, so a top end silly market may well persist in glorious isolation. |
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28 Feb 2023, 21:31 (Ref:4145314) | #387 | |||
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When I bought my first house my Father was appalled that I had a 25 year mortgage at 3x my (sole) annual income. And that was for a house in Yeovil. Now people are taking out mortgages at 4 or 5 times joint incomes for up to 40 years. |
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1 Mar 2023, 07:47 (Ref:4145341) | #388 | |||
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One theory I've heard is that someone wants to set up a car museum in Dubai and that's where these high priced cars are headed. Time will tell. |
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Incognito: An Italian phrase meaning Nice Gearchange! |
1 Mar 2023, 10:02 (Ref:4145364) | #389 | ||
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I think the classic car market is just like stocks n shares, if you can't afford to loose you can't afford to buy.
For us "normal" people who "try" and play the field is a lot different to some people who can afford to lose a million quid like they are just buying a pint! |
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Balls of steel (knob of butter) They're Asking For Larkins. ( Proper beer) not you're Eurofizz crap. Hace más calor en España. Me han conocido a hablar un montón cojones! Send any cheques and cash to PO box 1 Lagos Nigeria Africa ! |
1 Mar 2023, 10:24 (Ref:4145366) | #390 | ||
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1 Mar 2023, 17:21 (Ref:4145411) | #391 | |
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1 Mar 2023, 18:02 (Ref:4145415) | #392 | ||
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However, if we look at the basic absolute necessities that people might demand for their comfort zone we could consider Maslow's triangle to be representative. So food, shelter and security make the 3 core components. I'm not sure where "travel" fits into that, but we might simply apportion an amount across all 3 categories. In recent times we in the west in general, but UK in particular seems to have been pushing shelter into "property ownership" and reducing the perceived value of food and security in favour of shelter by making it an "investment". In the modern world "shelter" implies bricks and mortar in the UK, other construction methods elsewhere in the world. Either way one should consider that war, earthquakes, weather patterns and simply age of a structure can eliminate the investment value and so eliminate the shelter benefit it offers. One might consider, therefore, that the focus on shelter (as investment rather than protection) has weakened the spending on food and security. That may not be a good outcome in the medium to long term, especially for an "advanced" economy. And then there is Energy ... Still, so long as there are people around who can afford to buy trinkets at oddly high prices I suppose we should not worry too much ... should we? |
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1 Mar 2023, 20:43 (Ref:4145445) | #393 | ||
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Unfortunately some people have far too much money and on a whim will outbid somebody just for the hell of it. Then it sits for a year or so in a centrally heated garage just to show to their friends. So most of us won't even get a look in.
As we know it happens in auctions for just about anything and with internet bidding from all over the world it only made it worse. A very good friend of mine that helped finance my racing has several road cars that have registration numbers in an ascending 2 figuration like X2 X3 etc. I wont say what they are but he wanted one more to make up the set. He saw that it was coming up for auction and put in a bid of £50k that was immediately upped to £100k ! my friend dropped out after a couple more attempts and after that a certain "someone" came in with £500k bids against 3 other people. That certain person eventually paid several million for it !! |
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Balls of steel (knob of butter) They're Asking For Larkins. ( Proper beer) not you're Eurofizz crap. Hace más calor en España. Me han conocido a hablar un montón cojones! Send any cheques and cash to PO box 1 Lagos Nigeria Africa ! |
2 Mar 2023, 11:12 (Ref:4145477) | #394 | ||
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£ 50k for a registration number is already quite a lot imo. Whatever the car. 50k, 500k, one or several millions makes no difference. A good idea for your friend, let him sell one or several numbers and buy cars with the money…
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2 Mar 2023, 16:44 (Ref:4145511) | #395 | ||
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Amidst all the hype over the RS500 I thought this was cheap (and yes I know it isn’t a real FRP), wish I had realised.
https://www.silverstoneauctions.com/...57&pn=1&pp=100 |
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2 Mar 2023, 19:44 (Ref:4145530) | #396 | ||
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My boss used to say "When you have so much money, it isn't about the cash but keeping score."
He was right Sent from my AC2003 using Tapatalk |
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Midgetman - known as Max Tyler to the world. MaxAttaq! |
2 Mar 2023, 20:07 (Ref:4145531) | #397 | |||
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Life should not be a journey to the grave with the intention of arriving safely in a well preserved body, but rather to skid in sideways, chocolate in one hand, wine in the other, body thoroughly used up, totally worn out and screaming "WOO HOO what a ride!" |
2 Mar 2023, 22:54 (Ref:4145538) | #398 | |||
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https://www.silverstoneauctions.com/...77&pn=1&pp=100 Bargain! (or must be summat wrong with it) |
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a salary slave no more... |
3 Mar 2023, 00:06 (Ref:4145541) | #399 | ||
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Not a bad little toy at the price by the looks of it. |
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3 Mar 2023, 07:20 (Ref:4145559) | #400 | |||
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Elise’s are going up in value and not difficult to source parts for, even if there is “summat wrong with it”. Cheapest one otherwise is probably somewhere around £12k for a Cat N and £15k for an ok one. |
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Born in the Midlands, made in the Royal Navy |
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