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John Mee
United Kingdom
209 Posts |
 Posted - 07/04/2016 : 14:54:19
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Get it running and use it. it's got to be worth the guide price with a free engine. It may be more original than some of the over restored cars we see.
John Mee |
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greg
United Kingdom
833 Posts |
Posted - 09/04/2016 : 15:57:50
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Richard Hardy
United Kingdom
2159 Posts |
Posted - 09/04/2016 : 16:51:24
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The auctioneer has no grounds to object to the accuracy of my comment and about the engine being seized as this was correct at the time. The auctioneer confirmed to me just this last week that they had freed the engine.
Maybe, instead of moaning to the MMM Register, they could have simply confirmed the engine was now free although I realise this would have then conflicted with their original / current catalogue description. Their video was incidentally only uploaded on 7th April (the day Dick Morbey's comment appears), so well after I had physically brought the problem to their attention on 19th March.
In the auction room today it was again stated that the engine had been regularly turned over. It was possibly not an appropriate time to explain how an engine becomes seized solid between regular turning over. I guess, just one of those mysterious mechanical enigmas nobody will ever be able to answer.
The rest of the observations I raised were also 100% accurate although this auctioneering company are not MMM specialists, just auctioneers seeking best commission fees.
Saw no other general spares with the car if they were to be included however.
The car attracted quite a bit of interest, various people I suspect did not bother bidding until bids were already too high for their pocket and one could ascertain in the room who some of these were. There were also 7 telephone bidders holding. It looks like the car went to an enthusiast anyway, as opposed to a dealer which is always comforting.
Hammer price including buyers commission - £26,880, the vendor I suspect receives £19,670 looking at the auction site commission rates which appear to be £7,210. What is the true value of the car therefore? Maybe less than the hammer price if it was sold in the car park outside.
To return to concours, the car would easily swallow up £10K including a decent paint job and a sorted engine, although excluding general labour, so no bargain today, more like maximum value for what it is i.e. a nice little runner, although with some general recommissioning work required first.
Rich
Vintage MG Parts |
Edited by - Richard Hardy on 09/04/2016 18:28:00 |
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Oz34
United Kingdom
2538 Posts |
Posted - 10/04/2016 : 19:15:21
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The web site says "Not Sold" at present; any comments on that?
Dave |
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George Eagle
United Kingdom
3238 Posts |
Posted - 10/04/2016 : 20:17:38
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See under Traders - Barry Walker states the car sold for £24, total including fees etc £27000.
George
L2023 |
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sam christie
United Kingdom
3101 Posts |
Posted - 10/04/2016 : 22:34:31
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......curiouser and curiouser............
Sam |
Edited by - sam christie on 10/04/2016 22:36:19 |
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Ian Bowers
United Kingdom
941 Posts |
Posted - 11/04/2016 : 07:51:48
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So, either the highest bidder reneged, or the reserve was even higher than the highest bid.
Ian Bowers
OD 6791
J3 3772 |
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Barry Walker
United Kingdom
230 Posts |
Posted - 11/04/2016 : 11:59:46
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I have just spoken to Tennants, and the car DEFINITELY sold at £24K, +10% premium + VAT.....£26880.
If any body wants a revised valution on their MMM car for insurances purposes!, as a listed valuer for the main insurances companies, I'm always happy to do this frre of charge to members, providing a full set of good photos are supplied. We do however charge for full reported inspections when help is needed in purchasing a MMM car.
All best, Barry Walker. |
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KR200
United Kingdom
54 Posts |
Posted - 15/04/2016 : 22:13:04
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A full tear down resto on this thing will cost thousands.
I've been watching the prices of classics of late and we've shifted into a new paradigm.
Asking prices are utterly eyewatering. I see no reason why'd they will soften in the near future.
It is gentlemen a rich mans world. |
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