In a message dated 10/5/98 7:41:58 PM Eastern Daylight Time,
barneymg@ntsource.com writes:
<< >....
>Most of our LBCs will never be worth as much as we spend on them. ....
WHAT? I agreed with everything else said up to this point, that our LBC's
are reasonably reliable if properly maintained, and lots of fun to drive,
etc. But I have to take great exception to this latest statement. I
believe MY LBC is indeed worth every penny of what I spend on it, and I'm
not talking about love of labor or the value of the enjoyment of driving
it, I'm talking straight cost vs service here.
>>
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Sorry Barney, I didn't mean that YOUR MGA wasn't worth what you spent on it!
<BG> In all the books I've read about buying and restoring an LBC, the
general consensus of opinion is that it is a labor of love, rather than a
financial investment. We fix and maintain because we love these cars, and
MOST of us will not be able to recoup all that was spent on the car if it is
sold.
I agree that some of the older cars, esp. big Healeys and Jags, and MGAs, TR2s
and TR3s, are starting to climb in value. But a professional, frame-off resto
on a big Healey could easily cost $30K to $40K and the car will then be worth
about $20K. Since the cost of DIY is less, you may be totally correct.
Once again, this is the stuff I have read in some books, and I really don't
have the practical experience (yet) to dispute your claims of fiscal prowess.
Personally, as the future owner (a few weeks) of a 1977 Midget, I don't think
I will ever be able to make the claim that my car has increased in value to
the point that I would make a profit in it's sale, unless I hold the car for
another 20 or 30 years. Actually, that doesn't sound like a bad idea!
BTW Barney, you have THE BEST web site on LBCs I have ever seen.
(http://www.ntsource.com/~barneymg/) Thank you for all your good advice to
all of us. I am looking forward to comparing what I can from your experience
with the MGA to the experience I am about to have with my Midget.
Allen Hefner
'77 Midget
'92 Mitsubishi Expo LRV Sport
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