Alan Bemoans:
>I've been trying to sell my '78 Midget, ... with very little success
>Part of the problem is the car's condition, it's too nice.
You have 2 problems- one is that you've put more $$ into the car than
it's end value- a very common situation. But you seem willing to
accept that, and get a reasonable price for the car.
I've seen folks pour hundreds or thousands into a car that's just not
worth it, and end up with expensive junk, or overpriced common stuff.
And some of them expect to get back what they spent! It's real hard
to rocoup large dollars spent on a cheap car. Even harder if you pay
someone else to do the work. It's not even that easy to get a return on
your money spent on a more desireable car. The good end of all this, is
that if you're willing to spend the money up front, you can sometimes
get a much better deal on a car that someone else has poured their $$
and time into than you can by doing it yourself.
The main problem you're having is the market for a speciality
car. There aren't really that many people looking for them. (Except
everyone who beats you to the real deals!) It seems to be easier to
find someone looking for something cheap to fix up, or just drive,
than someone looking for a truly nice car. (You'd think 3,400
would be cheap enough!) There's a guy here abouts who's given
up doing reasonable repair/restorations on the cars he gets
(MGB's, etc.), cuz he can't get ready buyers. He finds he does
much better taking a sloppy car, filling holes, doing a quick respray,
mayby some new side chrome, and little more. They're cheap, and
they go pretty quick. He's got a real nice Sprite, well worth the
3,800 he's asking, (according to book, solid restoration, etc.),
that he has hardly been able to get a nibble on.
If you you've got a grade 1 or 2 car, it's probably going to take
a lot longer to find a buyer. Those top prices we see don't come
easy for "common cars". I'd think about advertising it in club
newsletters, at shows, and other places where those who can appreciate
a better car hang out. Even then, they're not all looking for another
car.
Here's an interesting quirk: In the Old Cars Price Guide,
which seems to be a very reasonable guage of prices for many cars,
the price of Sprites has been steadily increasing with respect to
Midgets. Currently, a #1 61-64 Sprite lists for ~13K+ (!), #3 for 6,500,
while a 62-65 Midget lists for #1- 6,500, #3- 3K.
Go figure. Most publications usually lump them together, for around the
Midget price. In England, the MG is more desireable. These prices come
from aucutions, and confirmed sales. The Sprites seem to be riding on
the shirt-tails of the 3000's. Mayby, if the car's clean enough,
you should offer it for 9K, and give somebody a real deal at only 8!
The South Lansing Centre has been hopping this week, starting to play
musical engines with MGB's. I can now pull an engine in around three
hours. Of course, it takes at least that long to clean the suckers
up once they're out! Not to mention cleaning & reconditioning
all the other bits. If I'd just spent my money on a clean car to
begin with.... But, then, I couldn't have all this fun! :-)
________________________________________________________
Roger Garnett (garnett@BATCOMPUTER.TN.CORNELL.EDU)
The South Lansing Centre For Wayward Sports Cars
"All donations of stray, orphaned, odd, neglected, etc.
sports cars and bits in need of a good home accepted."
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