Hi John:
I think that you are forgetting that most decent "new" cars cost at least
$20,000. (I am using Cdn.dollar figures) An MGB-equivalent is
unobtainable unless one buys a Miata which here in Canada can cost up to
$30k. Restoration costs are high, so that the cost of properly restoring
an MG to "like-new" condition will easily exceed $6,000 - not including the
initial price of the car.
Ultimately, the price of any used car is determined just as the price of
any used goods, be they antiques, houses or Barbie dolls. Supply and
demand. MGs are hot, XJs are not. Their reputation has preceded them. A
used Bentley for $10k is still a used LBC with questionable reliability,
pricey difficult-to-find servicing, overpriced parts with little
aftermarket support, and a known fragility to our climate. An XJS will
always be ugly, cramped and unreliable.
A used MGB at $6k shows a value around what it was worth new 20 years ago.
This is the mark of a good collector car. If it has reached its original
value in 20 or so years it is a good investment. The MGB is one of the
aftermarkets best-supported collector cars. A used Bentley at $10k is very
underpriced relative to its new cost but it's not as good an investment.
See above for the reasons. You get what you pay for.
Remember that inflation marches on. 35 years ago - when the MGB was
introduced, a half-decent used car cost $100. Ten years ago the same $50
car was $500. Now its more like $1,000. You're just suffering from
used-car sticker-shock. The cure is to walk through a couple of new-car
showrooms.
John McEwen
> It seems to be today that a decent MGB is gonna cost about $6000. When I
>bought my first convertible MGB, my MGB-GT, and then the MG Farina Magnette
>(I needed four doors and four seats), they were considerably cheaper cars.
> The MGB, in perfect mint wonderful condition was $4000, the nice GT was
>2250, and the great original Magnette was 1700. But now, with the exception
>of the Magnette, I don't think any one of them would be easy to find for less
>than $6000.
> $6000 is another price bracket entirely. Now that MGs are so damn
>expensive, what else do they have going for them? I bring this up because I
>bought an 86 XJS, against all recommendations, for $5500. It has 66,000
>miles and looks brand new. I put another 2,000 miles on it without incident,
>except the alternator belt broke. I've done a tune up and tracked down an
>electrical fault and can safely say it is the easiest car to work on that
>I've ever dealt with. It's faster, more comfortable, etc,etc, than the MGB.
> Some people are paying as much as $10000 for MGBs! Why an MGB when 10000
>buys a Bentley T1? Why $6000 for an MGB when a XJ-S is $6000? I ask this
>because if I don't watch out I'm gonna end up sell all the cars and getting
>an Aston DBS. Expensive cars are cheap and the cheap cars expensive... WHAT
>GIVES?
>
> John
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