Quote:
Originally Posted by Othen
As we have discussed previously (before Xmas) this one is hard to value. On the plus side it is an historic vehicle, which adds 50-100% to the value - and it is a very early motor car. The negatives are that it is LHD, it doesn't have its original motor and it is pretty scruffy inside and out. The fact it is a 242 is difficult to assess: that makes it rare here in the UK (but not rare at all elsewhere, the 242 was just a cheap version of the 244 in other markets) and so something of a curiosity - but I don't know whether that adds or detracts from its value.
The dealer is obviously having trouble selling it: 4 months on and he/she is still hawking it around on public auction sites. His/her problem is the market for this motor car will be tiny: he is trying to sell a down-market, non-original, LHD motor car in slightly poor condition at a large premium because it wasn't sold in the UK and so has a curiosity value. There probably aren't more than 10 punters willing to pay a curiosity premium for an otherwise cooking motor car in the UK.
It will be interesting to see what it makes at public auction (shill bidding aside). My guess is that it will not make its reserve and it will go through the strainer a few more times.
:-)
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Exactly as predicted… the 242 didn’t receive any more bids than the £3,600 from several days ago (that I suspected was a shill bid anyway) and so didn’t make it reserve.
We may see it advertised several more times before the dealer realises it isn’t worth so much due to the tiny market,
Alan