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Re: What is an old car worth?

To: <info@theyeagergroup.com>, <6pack@autox.team.net>
Subject: Re: What is an old car worth?
From: "Kai M. Radicke" <kmr@pil.net>
Date: Fri, 28 Dec 2001 11:07:15 -0500
> http://www.theyeagergroup.com/triumph_tr6.htm
>
> When I got back to the classic car world from the academic world I
> have seen silly prices for  TR6s ($15,000 - $18,000).

These aren't silly prices, when someone is willing to pay them.  There has
been a boom in TR6 prices since mid-summer for whatever-the-reason.  And
I've seen a TR6 that was listed at $18,500 even sell... and that was at a
dealer who specialised in classic British cars, so I'm sure the price didn't
come down all that much.  I recommended about a month ago that an
acquaintance raise the price of his TR6 $1000 to $15,500... because I knew
it was worth it, and would sell for that price.

Now for your car?  Whenever I've valuated a car, for personal purchase or
otherwise, I have started with the price the car would sell for in perfect
condition.  We can start with the "silly" price of $15,000.  As you said,
your car's paint is beginning to need attention.  Good quality paint jobs,
down to bare metal and the work to get perfect panel lines will be about
$4200.  So subtract $4200 from $15,000... $10,800.  No Overdrive, $1000
penalty.  $9,800.  Replace the 15 year old tires... deduct $300.  $9,500.
Interior retrim (going by your To-Do List on website), $800.  Hydraulic
system overhaul, $300ish (depending on parts and labor).

$8,400 is where I'd list your car, and probably is quite reasonable.  The
performance mods are a plus, but not a selling point.  Everyone has their
own idea of what performance mods are good and bad, and someone many view
your downdraft webers as a silly addition given your exhaust header, cam and
head work.

If I'm buying your car, which I'm not, I'd probably make a point of arguing
that you don't have a factory hardtop either and I would offer you $7800.
(boy how quickly the price came down from $15,000!)

These are real prices, based on the local shop who does top notch TR work
and they have quite reasonable labor rates and discount their parts by 10%.

Old more original cars obviously get the premium prices, and the more
optional original equipment you have installed the higher the premium again.
Overdrive, Air Conditioning, Hardtop... in that order.  Although so many TRs
lack A/C it isn't something to count against the car, but it is something to
count when the car has it... and commands probably another $1000 if fully
functioning and converted to R132 use.

Cheers,

Kai

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