This car was the subject of the book "The Mighty MG Magnettes of 33" written by Graeme Cocks. There was a special edition of the book which came with a slip case - I have one which is numbered K3 126. It is certainly a well researched and very well illustrated book.
The car is K3003 which was owned and restored by P Bayne-Powell. The late Peter Briggs purchased the car in 1986.
Off course that's a lot of money in pounds sterling or dollars but I've seen cars auctioned off for a lot more money that aren't anything as historical as this car.
i just idly looked this up in the Hawke history of mmm competition cars. Am i misreading it, it looks like the original K3003 that Eyston etc drove in Mille Miglia only a handful of parts survived in Germany in 50's after long career racing , rest of the car no trace . The "other" K3003 (K33) was a K3 chassis at Thomson &Taylor Brooklands in 30's, built up as single seater with ex K3007 body. Ended up in scrapyard with no body. philip Bayne Powell restored it with Ulster TT pattern body. Reg JB1475 issued. sold to Peter Briggs. So is it the The Eyston car or not? Just interested if someone can clarify?