Alan Dahl asks:
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What is the British car market like in the rest of the country?
I've been trying to sell my '78 Midget, "Hershey", here in Seattle
the last couple of weeks with very little success.
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In the SF bay area, late model Midgets seem to go for $2000-$3000
(Good condition, NO rust, recent top.) A friend just bought a '76
MGB that was always garaged for $2000 last week, they too seem to
peak at around $3000.
I'm not talking about Concours cars here, that is a specialised
market. If your Midget really is exceptional, selling it through
Hemmings, an auction house, or a broker is probably the best way
to go. A good appraisal will run $50-$100; that helps in figuring
out how much to ask. Being willing to deliver the car helps a lot
as out of town buyers will not be familiar with local delivery
services.
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Part of the problem is the car's condition, it's too nice. I've put
over $5000 (ouch) into it over the last few years
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Cars are getting to be like real-estate; people are buying them as
investments. But as the saying goes, never have the best house in the
neighborhood, you're pulling up the value of all the other houses
while they are pulling down the value of yours.
Also, there is something of a depression going on in the collector
car markets; prices on average (!) V12 Ferraris have dropped around
30% in the last six months and Britain apparently has a glut of LHD
Britcars sitting on docks.
Purely in financial terms you would have been better off putting
$5000 into a TR6. But then again, you could have put the same amount
into a Yugo.
So if you do end up selling it for $3000 or so, ask yourself whether
the enjoyment you had was worth $2000. It could be worse, Some M*ata
owners have taken a $6000 bath in the last six months.
Aran Guy guy@bevsun.bev.lbl.gov
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