Volvo Owners Club Forum - View Single Post - 1978 Volvo 245 DL in Orange

john.wigley · Apr 2nd, 2021, 12:14

Here goes ...

Agreed, Alan, but only if you exclude the intrinsic value of your time and very obvious talents that you have invested in bringing the RB up to it's present standard. You have clearly done those things for the pleasure and satisfaction that it brings you, but that, I suggest, is leading you to value the car purely in financial terms.

Let's say that I had purchased 'your' car for the 'fair and reasonable' (sic) figure of £2,000 instead, but, unlike you, I was unable or unwilling to do the work necessary bring it up to the standard that you have done. How much it would have cost me if I had to pay someone else to do that I hesitate to guess. How long have you spent on the car and how do you value your time? Let's assume a conservative 200 hours and a modest £10 per hour - that's two grand - plus what you have spent in parts and the purchase price.

I fully understand that the RB is not for sale, but if ever you were to offer it at £2,750 I think that you would also have seriously undervalued it. In it's present condition, I would have no hesitation at advertising it at £4,995 and be prepared to 'shake' on four 'G's. You would need to find the right buyer, but I do not think that is unrealistic.

If, like you with the RB, I was looking for a 244 for nostalgic reasons, I would certainly be prepared to spend that amount for yours. The car we are discussing here is so like my old 245 that it is uncanny - about the only difference is in the registration number. That is why I said that if I wanted that car I do not think that £5,000 would be too much to pay - where would I find another?

That said, as Stephen suggested, I would also want the car professionally inspected prior to entering any serious negotiations - I'm not that green!

Cold logic may be fine when one is valuing a modern car that is 'in the book', but the purchase of a 'classic' car is more usually a matter of the heart and the value, like beauty, is in the eye of the beholder.

Long may you enjoy the fruits of your labours with the RB.

Regards, John

Apr 2nd, 2021, 12:14	#10
john.wigley VOC Member since 1986 Last Online: Today 07:00 Join Date: Jan 2007 Location: Leicestershire	Here goes ... Agreed, Alan, but only if you exclude the intrinsic value of your time and very obvious talents that you have invested in bringing the RB up to it's present standard. You have clearly done those things for the pleasure and satisfaction that it brings you, but that, I suggest, is leading you to value the car purely in financial terms. Let's say that I had purchased 'your' car for the 'fair and reasonable' (sic) figure of £2,000 instead, but, unlike you, I was unable or unwilling to do the work necessary bring it up to the standard that you have done. How much it would have cost me if I had to pay someone else to do that I hesitate to guess. How long have you spent on the car and how do you value your time? Let's assume a conservative 200 hours and a modest £10 per hour - that's two grand - plus what you have spent in parts and the purchase price. I fully understand that the RB is not for sale, but if ever you were to offer it at £2,750 I think that you would also have seriously undervalued it. In it's present condition, I would have no hesitation at advertising it at £4,995 and be prepared to 'shake' on four 'G's. You would need to find the right buyer, but I do not think that is unrealistic. If, like you with the RB, I was looking for a 244 for nostalgic reasons, I would certainly be prepared to spend that amount for yours. The car we are discussing here is so like my old 245 that it is uncanny - about the only difference is in the registration number. That is why I said that if I wanted *that* car I do not think that £5,000 would be too much to pay - where would I find another? That said, as Stephen suggested, I would also want the car professionally inspected prior to entering any serious negotiations - I'm not that green! Cold logic may be fine when one is valuing a modern car that is 'in the book', but the purchase of a 'classic' car is more usually a matter of the heart and the value, like beauty, is in the eye of the beholder. Long may you enjoy the fruits of your labours with the RB. Regards, John __________________ Time flies like an arrow, fruit flies like a banana .....