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Author Topic: Buying an investment classic.  (Read 14755 times)

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VXL V6

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Re: Buying an investment classic.
« Reply #15 on: 30 March 2016, 21:36:04 »

I scrapped an SD1 for £50 many years ago... Now SD1 Vittesses are going for some serious money and the vast majority of parts (including all body panels) are available from Rimmer Bros....

Stupid Boy Pike.

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Jukeboxnut

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Re: Buying an investment classic.
« Reply #16 on: 30 March 2016, 21:52:40 »

Forget cars which can and will rot, get damaged etc. and buy a good jukebox instead.  The prices are booming and show no sign of slowing down due to overwhelming demand and a dwindling supply of good machines.  200 selection machines of the late 1950 era are the best buys.

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YZ250

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Re: Buying an investment classic.
« Reply #17 on: 30 March 2016, 22:03:39 »

I scrapped an SD1 for £50 many years ago... Now SD1 Vittesses are going for some serious money and the vast majority of parts (including all body panels) are available from Rimmer Bros....

Stupid Boy Pike.

I got £250 for my Moonraker SD1 Vitesse TP in PX for my MG Montego Turbo. The SD1 had failed the MOT on steering rack play and I couldn't pack it enough  ::) to get it through.
Was still an excellent runner though.  :y
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2boxerdogs

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Re: Buying an investment classic.
« Reply #18 on: 30 March 2016, 22:37:49 »

In August 1973 I purchased a new Ford Escort Mexico in Monza blue with white Mexico logos ,the price £1,230 OTR they are now fetching around £25,000 if only I could have mothballed it !
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dbug

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Re: Buying an investment classic.
« Reply #19 on: 30 March 2016, 23:23:13 »

When I say classic, Im not thinking Bugatti Royale. Something from the late 70,s early 80,s is more realistic. I could have bought a low mileage Mini (30th anniversary model iirc) for 2 grand a couple of months ago, but I wasn't thinking along these lines then - which is typical.  ::)
Quite like the idea of an old Fiat 500 actually, for some reason.  :)
Then again, theres motorbikes. Ducati 916, early RI/ Fireblade. Or even a 70,s Kawasaki that needs a bit of TLC.  :-\

Slightly off topic here, but worth mentioning.......  any investment will require some sort of security. Only recently there was an article on the BBC news website about the 70s & 80s cars being stolen and broken down for parts / sold on by unscrupulous kerb life.

On another note, a friend bought a Ferrari 15 years ago for £16k, spent thousands every year on maintenance and hardly ever drove it, then sold it last year for slightly less, so worth bearing in mind your investment can go up or down..... nothing's certain in this world.

Been looking to buy another Ferrari for a while as an investment/fine weather toy, and have just put in an offer for this one  http://www.ebay.co.uk/itm/FOR-SALE-Ferrari-360-Spider-F1-2003-/111914210252?hash=item1a0e9b53cc:g:pmAAAOSwe7BWzHrb - time will tell if he accepts my offer.
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Andy B

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Re: Buying an investment classic.
« Reply #20 on: 30 March 2016, 23:43:30 »

When I say classic, Im not thinking Bugatti Royale. Something from the late 70,s early 80,s is more realistic. I could have bought a low mileage Mini (30th anniversary model iirc) for 2 grand a couple of months ago, but I wasn't thinking along these lines then - which is typical.  ::)
Quite like the idea of an old Fiat 500 actually, for some reason.  :)
Then again, theres motorbikes. Ducati 916, early RI/ Fireblade. Or even a 70,s Kawasaki that needs a bit of TLC.  :-\

Slightly off topic here, but worth mentioning.......  any investment will require some sort of security. Only recently there was an article on the BBC news website about the 70s & 80s cars being stolen and broken down for parts / sold on by unscrupulous kerb life.

On another note, a friend bought a Ferrari 15 years ago for £16k, spent thousands every year on maintenance and hardly ever drove it, then sold it last year for slightly less, so worth bearing in mind your investment can go up or down..... nothing's certain in this world.

Been looking to buy another Ferrari for a while as an investment/fine weather toy, and have just put in an offer for this one  http://www.ebay.co.uk/itm/FOR-SALE-Ferrari-360-Spider-F1-2003-/111914210252?hash=item1a0e9b53cc:g:pmAAAOSwe7BWzHrb - time will tell if he accepts my offer.

New clutch needed in under 15000 miles  ???
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dbug

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Re: Buying an investment classic.
« Reply #21 on: 30 March 2016, 23:58:14 »

Be a while though, wouldn't intend more than 4k miles pa.  Anyway if investing that sort of money, you may need to protect that investment and the cost of a clutch is not a lot in the overall scheme of things  ;)
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johnnydog

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Re: Buying an investment classic.
« Reply #22 on: 31 March 2016, 00:03:43 »

Having owned classic Triumphs for over 35 years, I see it all too often - someone has some spare cash and decides to buy a classic car. Having decided on make /model, they get one, but within 12 months or so the car is up for sale. Why? Having driven modern vehicles, the reality of driving a classic car doesn't quite seem as appealing once they've bought the car, with unseen corrosion showing, the frequent maintenance required and the general lack of 'mod cons'. Whilst they may remember driving cars in the 60's / 70's, the harsh reality is that cars have moved on leaps and bounds, and unless you class yourself as a fanatic of the make /model you buy, you may find that after the initial excitement of owning a classic car, the reality of ownership isn't quite as appealing and a bit of a culture shock when you go back to a classic car.
It's a bit like the person who decides to buy a sports car for weekends. Invariably, they end up for sale within a year or so, as the owner didn't use them enough or the car they bought wasn't as practical as they first thought.
The other point which should go without saying is to fully research the problem areas of the car you would like to buy; as with OOF, there is a plenty of information on the forums about what to look for, and take someone with you when you go to look. It's easy to see your 'dream' car through rose tinted glasses, and the friend with you may just pull back on the reins and prevent you buying a 'pup'. And don't buy the first one you see, unless it is the perfect car (which many turn out not to be).
And if you are not particularly handy with the spanners, who is going to maintain it for you? Finding someone familiar with your particular car who knows them sufficiently to lavish the care they may need, may not be on your doorstep (a bit like the Omega!).
Just be mindful of the availability of spares - who would have thought for instance that a Ford Granada from the 80's with a few corrosion issues would be a problem? The actual problem is that many of the panels are virtually unobtainable, and if found, cost a small fortune. Would you pay £135 for a washer bottle (no pump in that)? I was recently taking to a Ford Escort owner who had to pay that figure because of their rarity.
So it's worth doing your homework.....
Just a few thoughts for what it's worth.
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05omegav6

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Re: Buying an investment classic.
« Reply #23 on: 31 March 2016, 00:04:17 »

£80K is alot for an MR2 ???
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dbug

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Re: Buying an investment classic.
« Reply #24 on: 31 March 2016, 00:07:13 »

£80K is alot for an MR2 ???

Not an mr2 - you can get that "version" for under £20K.  Touch of jealousy perhaps?
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dbug

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Re: Buying an investment classic.
« Reply #25 on: 31 March 2016, 00:09:37 »

Having owned classic Triumphs for over 35 years, I see it all too often - someone has some spare cash and decides to buy a classic car. Having decided on make /model, they get one, but within 12 months or so the car is up for sale. Why? Having driven modern vehicles, the reality of driving a classic car doesn't quite seem as appealing once they've bought the car, with unseen corrosion showing, the frequent maintenance required and the general lack of 'mod cons'. Whilst they may remember driving cars in the 60's / 70's, the harsh reality is that cars have moved on leaps and bounds, and unless you class yourself as a fanatic of the make /model you buy, you may find that after the initial excitement of owning a classic car, the reality of ownership isn't quite as appealing and a bit of a culture shock when you go back to a classic car.
It's a bit like the person who decides to buy a sports car for weekends. Invariably, they end up for sale within a year or so, as the owner didn't use them enough or the car they bought wasn't as practical as they first thought.
The other point which should go without saying is to fully research the problem areas of the car you would like to buy; as with OOF, there is a plenty of information on the forums about what to look for, and take someone with you when you go to look. It's easy to see your 'dream' car through rose tinted glasses, and the friend with you may just pull back on the reins and prevent you buying a 'pup'. And don't buy the first one you see, unless it is the perfect car (which many turn out not to be).
And if you are not particularly handy with the spanners, who is going to maintain it for you? Finding someone familiar with your particular car who knows them sufficiently to lavish the care they may need, may not be on your doorstep (a bit like the Omega!).
Just be mindful of the availability of spares - who would have thought for instance that a Ford Granada from the 80's with a few corrosion issues would be a problem? The actual problem is that many of the panels are virtually unobtainable, and if found, cost a small fortune. Would you pay £135 for a washer bottle (no pump in that)? I was recently taking to a Ford Escort owner who had to pay that figure because of their rarity.
So it's worth doing your homework.....
Just a few thoughts for what it's worth.

Understand your comments, and generally you are correct.  I have a '67 TR4A, owned since late 70s, and completely restored by me at that time, now garaged but easily put back on the road.

Actually easier now than then in getting sensibly priced spares for the TR, including all body panels off original tooling.
« Last Edit: 31 March 2016, 00:12:43 by dbug »
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johnnydog

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Re: Buying an investment classic.
« Reply #26 on: 31 March 2016, 00:18:31 »

I scrapped an SD1 for £50 many years ago... Now SD1 Vittesses are going for some serious money and the vast majority of parts (including all body panels) are available from Rimmer Bros....

Stupid Boy Pike.

My experience of the majority of reproduction parts from Rimmer Brothers is that the quality is poor. I'm not on my own in saying this. I know a lot of classic car owners who have had issues with parts and had to return them due to premature failure. NOS (new old stock), if you can find them, are always a far better bet.
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dbug

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Re: Buying an investment classic.
« Reply #27 on: 31 March 2016, 00:27:38 »

I scrapped an SD1 for £50 many years ago... Now SD1 Vittesses are going for some serious money and the vast majority of parts (including all body panels) are available from Rimmer Bros....

Stupid Boy Pike.

My experience of the majority of reproduction parts from Rimmer Brothers is that the quality is poor. I'm not on my own in saying this. I know a lot of classic car owners who have had issues with parts and had to return them due to premature failure. NOS (new old stock), if you can find them, are always a far better bet.

Agree re Rimmers, some parts ok, some not.  However for TRs Pete Buckles managed to obtain almost all of the original TR tooling (with some investment by the TR Register), and those products are still available through Moss.

The TR Register is continually funding development of high quality repro parts, generally to original specs or better.
« Last Edit: 31 March 2016, 00:29:54 by dbug »
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05omegav6

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Re: Buying an investment classic.
« Reply #28 on: 31 March 2016, 00:34:07 »

Not at all... If I had that stuffed down the back of the sofa, it wouldn't be going on a Ferrari, and certainly not a dark blue one :-X

But different strokes and all that...
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dbug

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Re: Buying an investment classic.
« Reply #29 on: 31 March 2016, 00:48:58 »

Not at all... If I had that stuffed down the back of the sofa, it wouldn't be going on a Ferrari, and certainly not a dark blue one :-X

But different strokes and all that...

Well you haven't, and I have, so your comments are not really relevent.  Still you could always buy your choice of wheels on finance again. ;D
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