40 replies to this topic

[wingnut]

i only saw this on  his website last night and looked again this morning and its already had a deposit paid on it.

[r3k1355]

i only saw this on  his website last night and looked again this morning and its already had a deposit paid on it.

 

Only saw what?

[wingnut]

Sorry,if you look at mab01uk's ebay listing you'll see what i mean

[Archived2]

All this money spent and very little use/fun. Seems some cars are just investments for capital gain.

Big shame

[CityEPete]

If I won the euro millions I'd buy it and use it as my daily driver, well after I'd taken the stupid wheels off it :)

[r3k1355]

Sorry,if you look at mab01uk's ebay listing you'll see what i mean

 

Interestingly a few months ago I saw someone trying to sell a Mini they'd got from the same seller.

 

The paid near 20K and had it on eBay a few times, price dropped to mid-teens IIRC and didn't find a buyer.

[Itsaminithing]

'If two antique dealers were marooned on a desert island with just one chippendale chair they would both make a good living'....

The same can be said for two classic car dealers with one mini.

[bikerjohn]

All classic cars are going the same way.

Motor-sport is/was never cheap and to be competitive costs a lot of cash.

 

Unless you are committed to historic rallying, you could get an MG-ZR or Rover 25 with the 1.4 twin-cam engine. I had one for endurance rallying and, even with a virtually standard engine, as required by the regulations, it was quicker than my full-on 1293 Cooper 'S' Mk.1 on twisty tarmac and much quicker on gravel. Very low-cost (in relative terms) as well.

Hence why I've been saving bits and collecting parts for the last 5 years and fingers crossed the build will start in 2018

[mab01uk]

970cc Cooper S 

£53,000

http://www.carandcla....uk/car/C931878

[sansamn]

And remember that profits made on the sale of classic cars are exempt from capital gains tax.

To the tax man a classic car is a wasted asset as it is a piece of machinery - something at deprecates over time as it does not last forever (unless it’s an ex-works rally car of any marque that can be written off, reshelled, crushed, crashed an cloned a dozen times and still exist – but that’s another issue…)

 

You buy a load of shares in Big Bankers Buttplugs Inc and sell them a year later for £100K profit the tax man wants his share

 

However if you buy a nice classic car and sell it a year later (especially if you go through a large “reputable” auction houses who seem to like to advertise cars with some spurious claims around its history: “This lovely example of a 1983 Fiat 126 was reportedly used by Queen Elizabeth II and Elvis for a secret affair that took place before her majesty’s coronation. Quite often would they both, accompanied by a squad of the household carvery squeezed into the back with a couple of corgis, drive this delightful little car down to Portofino to take afternoon tea with the Pope”) and make £20k profit that goes straight into your pocket

 

Stupid really as a wasted asset is something that has depreciated over time. Some classic car dealers seeming to increase the price of their stock almost daily – the complete opposite of depreciation

[CityEPete]

I want a household carvery now! Mmmm meat :)