Market Value

[xvivalve]

Three Sprints in varying condition coming up for fairly high profile auction over the next few weeks; it'll be interesting to see how the 'investor market' values them real time...if they actually sell...

[yorkshire_spam]

I'm not aware of the specific details of the vehicles or the auction, but my guesses are as follows:

1) Any vehicle that is a pile of rust with a V5 will fail to meet reserve due to sellers crazy expectations.
2) Any vehicle that needs full restoration will sell for a bit more than we expect
3) Any vehicle that needs full restoration but is advertised as a running usable classic will fetch a lot more than it should
4) Any honestly described runner that's not concours will fetch about what we expect, maybe a bit more
5) Any concours car will either fail to meet reserve or sell at a price lower than it really should.

[xvivalve]

I'd concur with every point! It'd be funny were it not so true! Caveat emptor!!

Fortunately for those genuinely seeking a good car, the apparent best (in my opinion) is being auctioned first, so that removes a dilemma for some. Of the other two, the apparent better is being auctioned last...

[Carledo]

I'm not aware of the specific details of the vehicles or the auction, but my guesses are as follows:

1) Any vehicle that is a pile of rust with a V5 will fail to meet reserve due to sellers crazy expectations.
2) Any vehicle that needs full restoration will sell for a bit more than we expect
3) Any vehicle that needs full restoration but is advertised as a running usable classic will fetch a lot more than it should
4) Any honestly described runner that's not concours will fetch about what we expect, maybe a bit more
5) Any concours car will either fail to meet reserve or sell at a price lower than it really should.

Now lets translate that. People who want a Sprint, mostly don't buy them for investment value, or to hunt silver, they buy them for the driving experience.

I for one am grateful for this, it keeps the cars inside my budget and allows me to go on enjoying the driving exprience. I'm not interested in any subjective "value" placed on my car except to make sure my agreed value insurance can buy me another in similar condition (not that there IS another Sprint remotely like mine anywhere for me to buy)

But I will await the results of this impromptu survey with interest. Just to see how accurate the predictions are!

Steve

[xvivalve]

In my opinion. most folk who bid at this calibre of auction are less interested in the car, moreso in how much they can make from it, either by short or longer term investment; those who win are, from observation, often not even in the room!

The Inca car apparently sold at auction back in the summer for over £25k, yet here it is again with a guide of £20k...

Having followed Iconic (formerly Silverstone) for a few years now considering some potential 'bargains' as an investment myself (but without indulgence due to the effects of buyer's premium!), I've witnessed many sold cars 'resurface' at later auctions.

[xvivalve]

Sapphire Sprint with <12k miles: hammer dropped at £18,000
https://www.iconicauctioneers.com/1974- ... 188&pp=100

Inca Sprint, tuned engine, bodywork non original': hammer dropped at £20.392
https://www.historics.co.uk/auction/lot ... 6&pn=1&g=1

[Carledo]

In my opinion. most folk who bid at this calibre of auction are less interested in the car, moreso in how much they can make from it, either by short or longer term investment; those who win are, from observation, often not even in the room!

The Inca car apparently sold at auction back in the summer for over £25k, yet here it is again with a guide of £20k...

Having followed Iconic (formerly Silverstone) for a few years now considering some potential 'bargains' as an investment myself (but without indulgence due to the effects of buyer's premium!), I've witnessed many sold cars 'resurface' at later auctions.

Now that i've seen the price range you are looking at, I can see what you mean about this "calibre" of auction. These cars are literally too expensive to risk driving them on the road.

If all the pundits are right (not sure they are) and the bottom is, or is about to, fall out of the classic car market then a few buyers are gonna be very upset.

[Sprintparts]

Sapphire Sprint with <12k miles: hammer dropped at £18,000
https://www.iconicauctioneers.com/1974- ... 188&pp=100

Inca Sprint, tuned engine, bodywork non original': hammer dropped at £20.392
https://www.historics.co.uk/auction/lot ... 6&pn=1&g=1

Irrespective of what we might all think our cars are worth, ignoring sentimental value, it is what they sell for that sets the bench mark.

These auctions also show the difference in value of vehicles in different markets. In the Australian market you would be very lucky to see these numbers for any Dolomite Sprint, but I noted that there was a AM DB9 (lot 125 )that sold for 14.500 UKp, which I would buy in heart beat if I could, as these cars are advertising from $85,000 (44,000 UKp) and up in the Australian market.

One day I might buy my Aston Martin, I just need to sell both my Sprints and I am sure that i would still be short.

[yorkshire_spam]

If all the pundits are right (not sure they are) and the bottom is, or is about to, fall out of the classic car market then a few buyers are gonna be very upset.

I think there are 2 factors at play here,
1) Current economic climate - fewer people with significant cash to invest in "hobby" areas.
2) The changing age profile of people who have money to spend on classic cars.

Take for example a really nice TR3. When I first got into Triumphs 12 or 13 years ago, TR3s were fetching HUGE amounts. Because people who wanted a 1950s sports car were making good money and demand drove up prices for a finite and small number of cars. Since then many of those people have either passed away or are no longer in an income position to maintain those sorts of hobbies (modest retirement income) - as a result the price of TR3s I see come up now is "much more reasonable". Conversely prices for early VW golfs, Escorts etc. have hit the roof - why? Because the people that want those cars can now afford to enter a bidding war to own them.

As I result I think the bottom is falling out of the pre-war and "early classic" market. (See prices of Bentleys, early Triumphs, E-types etc.) and the demand/money in later ones is slightly suppressed by current economic climate - but not collapsing.

[xvivalve]

These auctions also show the difference in value of vehicles in different markets. In the Australian market you would be very lucky to see these numbers for any Dolomite Sprint, but I noted that there was a AM DB9 (lot 125 )that sold for 14.500 UKp, which I would buy in heart beat if I could, as these cars are advertising from $85,000 (44,000 UKp) and up in the Australian market.

One day I might buy my Aston Martin, I just need to sell both my Sprints and I am sure that i would still be short.

If I were you, I'd be looking at a Japanese import; their second hand market for larger and more prestige cars is very limited as before you buy you have to demonstrate you have space off road to park it...and in Japan space truly is a luxury; if you have space, you can probably buy new!! All RHD too

[Howard81]

but I noted that there was a AM DB9 (lot 125 )that sold for 14.500 UKp, which I would buy in heart beat if I could, as these cars are advertising from $85,000 (44,000 UKp) and up in the Australian market.

I know someone who had a good look at that, and it had a pond in the boot! So not the best of examples, but it was cheap...

[xvivalve]

...and the last of the three:

Tahiti Sprint (converted from LHD!) closed at £16,313
https://www.iconicauctioneers.com/1978- ... 404&pp=100

[Carledo]

...and the last of the three:

Tahiti Sprint (converted from LHD!) closed at £16,313
https://www.iconicauctioneers.com/1978- ... 404&pp=100

Chassis number within 100 cars of my own Sprint so 78 is gonna be right, probably built in August or early September. Engine number looks likely to be the original. Straight enough car and the autographs in the boot surely add value (i'd be pleased to have those 2!) A fair price i'd say and a car I wouldn't be uncomfortable driving around in.

Steve

[B8WLY]

I have been following prices the last year.

What I would call good cars are around the £14-16k price range. Even these need some work.

Then there appear to be average cars going for £7-9k. These cars however with a bit of love as long as mechanically sound could prove better value.

Most Dolomites unless fully restored are always going to need bodywork on an ongoing basis. I got into a debate the other day regarding a particular car. I never say a bad word against anyone’s car as it’s their car not mine, so up to them what they buy.

On the upside I got two front seats and the rear seats in superb condition for £200 this week. Was going to refurb mine but this was a no brainer. Happy days.

[2door-toledo]

...and the last of the three:

Tahiti Sprint (converted from LHD!) closed at £16,313
https://www.iconicauctioneers.com/1978- ... 404&pp=100

Chassis number within 100 cars of my own Sprint so 78 is gonna be right, probably built in August or early September. Engine number looks likely to be the original. Straight enough car and the autographs in the boot surely add value (i'd be pleased to have those 2!) A fair price i'd say and a car I wouldn't be uncomfortable driving around in.

Steve

Are the signatures genuine though? It appears to be spelt Jerry, wasn't his name Gerry? Some googling for 'gerry marshall signature' suggests he spelt it with a G when signing. Overall I'd say the top three google image hits for his signature look nothing like what someone has scribbled on the boot. Same story for the Andy Rouse signature, looks nothing like what's coming up on Google.