In a message dated 8/27/98 10:56:17 AM Central Daylight Time,
karim.marouf@cancom.com writes:
<< But even among the more scrupulous
advisors, you'd have to think that there'd be a conflict of interest. >>
I certainly did not mean to impugn the reputations of the "panel of expert
market consultants" (Kent Bain, Jack Boxstrom, David Gooding and Mark Leonard)
for Vintage Racecar Journal and Market Guide. I did not intend to impute bad
motives to their opinions. I know two of the gentlemen personally (Kent Bain
and Jack Boxstrom) and think very highly of them. Nevertheless, the values
listed do not reflect actual sales, but seem to mirror the asking prices of
cars currently being offered or the price they might wish to receive for their
cars.
Here are the cars listed, their "values" in the magazine, and actual sales:
Lotus 9 -- Value in magazine -- $50,000. A #1 condition
ex-Monterey winner
sold in August 1998 for $40,000. The premier IX sold in England for $35,000 a
couple of years ago.
Lotus Eleven -- Value in magazine -- $70,000. An English
auction house
sold one this year for $37,500. If anyone has $70,000 they wish to spend on an
Eleven, please contact me and I will be to give them the names of 10 Eleven
owners who will gladly part with their cars for that price.
Lotus 19 (Climax)-- Value in magazine -- $180,000. Both Jack
and Kent have
had 19s available at that price for a couple of years. The Jerry Grant 19 (V-8
powered) has been offered at $115,000 in the last few months. None have sold.
Lotus 23 -- Value in magazine -- $75,000. Last #1 condition
one I know of
traded for $55,000, but I have heard rumors of one trading for under $50,000.
The real point is a vintage racer is only worth what others will pay for it
and should never, IMHO, be viewed as an investment. If it is worth more when
you sell it than it was worth when you bought it, great, but the pleasure of
owning and running the car should be the primary motivation for buying an old
race car.
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