Quote:
Originally Posted by CNGBiFuel
Completely right. When some idiot shouts "It's not worth that" when it clearly is, I'm left perplexed. Artworks go under the hammer for £90 million, why? Because somebody paid it.
In RT's case, he reckons he's overpaid by £1-2K? So be it. Yet when this example is the car he thought he was buying, ie at Stage 1, it'll be worth £10ishK all day long. And here's the good bit. It's an 850R for chrissakes, if it's bright, without too much effort, there's always another ready to stump for it.
Compare that to walking into today's dealership with 10K, and see how that holds in 2-3 years? With depreciation the larger cost, my money says, long-game today's £1-2K over-payment soon looks very wise.
Compared to how most buy cars, the thing will hold its price. This kinda' makes for near free motoring. It's an 850R for chrissakes.
I said, "you'd not prise from me for £7-8000". Like RT's 10K figure, you really would have to pay me £7-8000 or more to get it from me. In truth it's not worth that, yet it's a known quantity, thus worth that to me. Because to find its match would cost me time, this before we even think in terms of money? And I can't find the arsedness to do it all again. Which I suspect is the same place RT gets his notional 10K from.
Done right, with thought - £9-10K for a 25 year old car is not dim at all, it's cheap motoring.
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Just had this debate in the office today - a colleagues husband has just sold one of his 280 Brooklands' Capri's on e-bay. It was a rolling project, described honestly, priced at what they thought was high and within 2 hours there was 250 watchers and it was being laoded onto a trailer after a bank transfer - the buyer paid them £100 more than the asking price to hold it for 2 hours whilst he travelled from North Yorkshire to Leeds. He had an e-bay alert set so any Capri's get listed - he gets a text message.
There's a point with cars when most of the bad ones have rotted away and the better ones are become classic and rare, the values start to go up. But as time goes on more of them get scrapped, crashed, stolen, broken for parts etc and due to age and whatever they become more desirable. You then reach a point where you can say there currently isn't another one available - anywhere - that's when you can almost ask whatever price you want and get it.
There must be a few people around aged say 60+ who had a 850 T5/T5R company car back in the 90's who have a bank full of money as they haven't been able to go on holiday or eat at Carluccios twice a week for 16 months who will be hankering after being a classic car owner.
If I'd kept both the XJS's I've owned and sold for relatively modest sums in the past 15 years, I could probably pay off my mortgage now.
It's not just cars, it's anything old, interesting and functional. I've got an interest in classic hi-fi (70's & 80's) and the values of some less common obje dar examples of that have nearly doubled in the past 2 years.
Who wouldn't want zero depreciation motoring?? I'm thinking of looking for a low mileage 480 Turbo...