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Moke Values Rising - 'better Get One Now' - Also Project Costs.


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#1 conrod

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Posted 11 October 2018 - 08:17 AM

I have been following Mokes and Van prices for a while now and the prices to purchase seem to be on a logarithmic scale/curve, or is that an exponential curve. That doesn't seem to matter whether it is a ferrous challenged one or a pristine version. I sold a tea strainer Moke as a rolling shell about 4 years ago and nearly got a thousand dollars for it. I couldn't believe it. I'm sure this is also happening with many other classic car marques. The Mini and the Moke used to be an excellent first car for us as youngsters but if I had to buy one now I would be struggling to find the funds.

So... you buy a half decent one for anything up to AU$10K (GBP5K) then you are up for (well the sky is the limit) on a restoration. Lets say Minimum another AU$10K. That might get you a decent running and average painted car, which is what I am aiming at. I'm sure some folk here have spent much more on their little beauts......which means we are starting to see cars in excess of AU$40K appear in adverts. I'm not trying to scare folk off buying them but if you don't get in now it might be out of your reach in a few years time. A bit like the housing market.

On the other hand anyone selling a Moke in the next few years and into the future should be sitting pretty if they have kept their Moke for a decent amount of time. It used to be bricks and mortar that were a sure investment....I'm not so sure now.

I am doing a restoration right now and not shooting for the stars but when it is finished I will have an idea of costs including purchase back in 2012 and should have an idea of sale value to see how much it differs. I don't see me selling it for many a year but it will be an interesting exercise.

I am not a purist either as I get just as excited with a modified Moke. I know the way I am with cars and even though I'm retired I still get a buzz working on them. What I mean is it doesn't matter to me if I spend more than I will ever get back on it, so for me it is an exciting time to achieve something I couldn't afford to do during my working life.

Sorry its been a bit of a ramble but I was just wondering if anyone had figures for their projects and would be willing to share them here. It might give prospective restorers an idea of what they/we are in for. I will be breaking mine down into body, paint, seats, electrics, engine and gearbox, brakes and so on, hoping to be helpful/informative at least at a moment in time.  



#2 Moke Spider

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Posted 11 October 2018 - 09:13 AM

For some it might be about the money and what they can get for their cars, but I think most don't really care for that and just enjoy their classic cars for what they are.

 

Me, I couldn't care less what they are worth in dollars & cents, the enjoyment my family and I get from them is priceless. They have no monetary value to us.

 

If considering the money side of it, it's not just Minis & Mokes that are going gang busters. The Australian Real Estate Institute recently said that THE single best Investment over the past 20 years has NOT been Stocks or Real Estate, but Vintage Cars. I've seen Cooper S's sell in Aust for between $48k and $96K over the past 2 years, these were only clean examples with nothing else remarkable about them. Likewise, I've seen Mokes go for around $40k. Even back in the early 90's, we had 2 club members who each got $32k for theirs.

 

They are all only going one way in value. If you are going to buy something to 'flip' it's generally more likely that you'll go backwards, even if you do the work yourself, which should be valued in to it, but even if not, you'll at best only make crumbs.



#3 mav

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Posted 11 October 2018 - 10:32 AM

Well doing it right or to your spec is as you say, sky is the limit. I have $43000 in my moke. And I only paid for the paint job. I did all the body work myself. And my friend built the engine for free. I dont know if I will ever see my money back. But I dont care. It's not for sale. And when I find more money. I'm pumping more into it. Rear discs. Power steering. Custom dash. It will never stop.
But it's a labor of love for me.

Mav

#4 Bat

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Posted 11 October 2018 - 12:18 PM

Hi,

It's similar in the UK

I took a look at my classic car insurance, saw I had the car down at £8000 on the policy.

Had a look round and found even project needing welding went for £17k.

I upped the insurance to £20k fitgurif itsi got to be worth that as it's got an MOT.

Car club valued it for £25k.

Luckily if selling, house prices are going up to .

My £90k project, 10 years on, is now worth around £200k!!!

Cheers 



#5 AlanS

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Posted 11 October 2018 - 11:16 PM

When out and about in my Moke people come up to admire and reminisce about when they or a relative had one and eventually the conversation comes around to what is it worth and I always reply to whom.

I know what it cost me, I know what I have put in it and I also know how much enjoyment I get out of it.

And the last time this question was asked of me I was in the mountains and explained to gentleman that if I didn't have the Moke I wouldn't be here and therefore the price has just gone up.

I am not ready to sell so do not put a real valuation when asked, and when I am ready to sell will be that old I won't be in control of my own affairs so as they say I am just a caretaker for my generation.

 

Alan


Edited by AlanS, 12 October 2018 - 10:26 PM.





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