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Topic: Back to reality? (Read 573 times) previous topic - next topic

Back to reality?

Hey guys, as we know prices for Mk2s have gone through the roof last few years.
Now I can't say if they've been selling for the prices advertised, I assume not and I guess a lot of the inflated asking prices have been people trying their luck. I've seen non-runner full resto projects listed for £2.5-3k  ::)

But I've started to see some more sensible prices being set, with road-legal, running cars for under £2k, and even an £800 project (I'm sure that ad will be removed and relisted for twice that when they get inundated with messages though). 

I was always expecting the values to level off after the 'mad' period and I wonder if we're being to get into that phase now.

Granted fully restored, pristine examples will still fetch £12k+ and I'd expect decent examples, either original or modded for around £4-8k. But if some entry-level cars are still available sub £2k I think that's a good place to be for every budget.

I'd say to do a decent job on a resto, without paying too many other people to do the work, you want to have at least a £7-10k budget so starting with a £2k makes it more viable.

Re: Back to reality?

Reply #1 –
Occasionally I'll have a look at 205 prices and I'm going to speculate that they're even more all over the place than those of MK2's.

Like you say, as with anything, what you see advertised and what someone ultimately accepts are two very different things, that gulf may be even greater with vehicles as it's an expected part of the buying process to haggle.

Don't know if anyone on here is a trader of any kind, but I'm saying the following on the assumption our cars were principally bought / continue to be owned to be used and enjoyed and not solely as an investment... that's something else entirely.

If you do have reason to sell and all things considered make on the deal, I'd say that was more good fortune or circumstances than a given.

Infact I'd got farther and say you should really be expecting a hit if you're honest with yourself and factor in true ownership costs / inflation etc. as well as purchase price.

About 2 years ago when I was looking around, before getting the 205 I settled on there was another one for sale nearby.

It wasn't even in the running because of the price.... £24000+.

I later saw it advertised for £16000+ then dissappear.

Saw it up for sale again (dealer using a classic auction) late last year with an estimate of £14000, don't know if it sold or if so for how much.

Didn't give it another thought until a few weeks ago and it's now with a different dealler, looking nearly £19000.

I'm going to go out on a limb and say that car (as nice as it was) won't sell for anything near what any of it's recent previous owners are asking for it. It's been doing the rounds of dealers / auctions for two years and genuine buyers aren't interested.

I think that traders / speculators and specialist websites are distorting perceptions and aren't the true gauge of values.

I suppose it boils down to the old saying... it's only worth what someone's willing to pay   

 

 

Re: Back to reality?

Reply #2 –
Congratulations, just noticed... you're now an 'administrator'!

Re: Back to reality?

Reply #3 –
Quote from: L90E on
Congratulations, just noticed... you're now an 'administrator'!

That happened a while back, I didn't ask for it and still don't really know how to use the power, but I think Shelly upgraded me as I'm on here so much  :)) that said, I started my new job at the beginning of January, so I don't know if it's been noticed but I've been a lot busier and as a result have not been on as much as I used to.

Re: Back to reality?

Reply #4 –
Saw a few of the newly joined dodgy members getting kicked off sharpish and thought it might've been down to you getting upgraded.

Going off on a tangent... when I re-joined recently it highlighted to me that it was just a case of putting in any old email address and I was immediately accepted, able to search / post etc. which suggests it's an automated process with no checks?

Some of the user names / website links in their profiles don't leave you in any doubt they're not legit. Might it cut down on the spammers / porn and other stuff being put up if it weren't so simple to get access / vetted beforehand?

 

Re: Back to reality?

Reply #5 –
one can still find a 54 hp cl in good shape for 1-2k euros, in germany. maybe twice as much as 15 years ago.
cars, which have been driven in the mountains however, start out as rusty as much of yours.

@L90E: making things harder ? anyhow, with a google captcha, i would not be here.
 

Re: Back to reality?

Reply #6 –
Legitimate people wanting to join the forum shouldn't have an issue with there being some sort of administrative approval before they're given free access to everything that's posted / existing members profiles etc... will only benefit them when they get in.

Don't know how Captcha works but it seems to be widely used elsewhere, may be part of the solution.

Anything that helps prevents or at the very least deters bogus members getting access is a good thing.

Unfortunately it's a fact of life now, there's people out there whose sole aim is to get as much info. about you as possible.

You'd be amazed what you unwittingly let others see... apart from the obvious like email addresses and car registrations, pics. can give away a mass of stuff eg. house numbers on bins in the background and much more!