What is a Healey worth?
You always hear that a thing is worth whatever the buyer is willing to pay for
it... But it is also worth only what the seller is willing to demand for it.
If you ask $20K for it when selling. -That is what it is worth.
Supply, demand, ....what sets the market value? How do you wind up with $2000
bottles of single malt scotch, and $500 bottles of Champaign? Cost of
manufacture? No. Limited production capacity? -Only by design. You get those
prices because the holder of the stock has convinced the buyer of the
product's value. -And because there is no similar supplier willing to sell for
less.
Objects of art, cars, paintings, fine liqueurs, --Collector items with no real
intrinsic value, have prices determined in part by both seller and buyer. And
I for one, have never understood the willingness of Healey owners to part with
their cars for far less than what it cost them to buy and restore them. One
would assume that if the owner is investing far more than he can recoup, then
he'd be doing so with no intention to sell the car. -Or, knowing what he could
"get", that he would limit his cost of restoration to the value of the car.
You don't seem to see XKE owners arguing against the idea that their cars are
worth $75,000 and up. Morgan owners seem to always feel that their cars are
undervalued. -But then, perhaps they identify with even scarcer marques than
Jaguar and Morgan, while we still identify with more common marques than our
Healeys.
No question that a concours restored Healey costs $70 - $90K to build. (When I
have looked at the cost of mine in the past, I have always shied away from
trying to calculate my labor value). But maybe there are still just a few too
many Healeys out there, to allow the same kind of pricing discipline that goes
on with XKEs. It is a mystery to me that there are enough Healey enthusiasts
to spend money and time to RESTORE a Healey at a cost of $70-$80K, and keep
the shops and suppliers open, but we still balk at the idea that one is worth
that much, already restored.
-And they won't generally be "worth" that much, as long as the next guy lets
his go for half of what it cost him to restore it.
----- Original Message -----
From: Gus
To: healeys@autox.team.net
Sent: Monday, January 31, 2005 4:35 PM
Subject: RE: Barrett-Jackson Auction - Reporter on the scene...
That may be, but Healeys aren't worth $90,000. and just because it might
take $90,000 to build one to "concours" (better than factory) standards
doesn't make it so.
I love Healeys but anyone parting with that kind of money to acquire one
either knows nothing about the cars or money is merely not a factor in the
purchase. Or put in simple terms, the guy's a nutcase.
-----Original Message-----
From: Michael Salter <michaelsalter@rogers.com>
Sent: Jan 31, 2005 4:14 PM
To: 'David Nock' <healeydoc@sbcglobal.net>,
'Reid Trummel' <editor_reid@hotmail.com>, healeys@autox.team.net
Subject: RE: Barrett-Jackson Auction - Reporter on the scene...
Hear hear David!!!
I have always maintained that it takes almost 1000 hours to correctly
restore a typical well beat Healey. $90K is about right.
Michael Salter
www.precisionsportscar.com
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