Lightweight e-type sells for ?4m

[MarkE]

I can make you a copy of a ?50 note but it won't have any value.

Very good!

There is definitely something going on in the classic car world, to do with prices, that is quite negative and seems to be unnerving a lot of folks. I go onto a few forums and every one of them has a topic running about the rapid rise in prices, boom and bust, enthusiasts vs investors, drivers vs collectors. The tribes are sub-dividing, each claiming that theirs is the right way.

Unfortunately, I've seen quite a few lose interest in their once prized cars purely because they have become so valuable that they feel that they can't use it. Often the car sits in a garage for a while unused, gets re-commissioned, and then gets sold on.

Quite a few of those though have re-discovered the fun of cars by buying something much newer for very little money that can be used and used hard. One such friend, a confirmed petrolhead, recently bought a 12 year old Porsche Boxster S for ?5k from a neighbor, and she wasn't a hairdresser. He spent around ?3k on it for a noisy exhaust and a few bits to make it more suitable for the track, and runs a few track days a year, having a ball.

He uses the car just about every day just for fun, and sadly the other classics in his garage rarely get a look-in. These are a 1980s 930 Turbo with 25 k miles on the clock, and a car he bought in the early eighties for a song, a 1970s 911 Carrera RS. Together those two are currently worth over ?500k, and they are just sitting there in their Carcoons, ousted by ?8k worth of Boxster. They are now just part of the pension pot, and hold no interest for him other than that.

He's just bought a Aston Martin Vantage for ?20k, and is in the process of stripping out all the driver aids, air bags and the other paraphernalia that usually goes wrong with Astons...just keeping the ABS. Again, he's having a ball, and is developing a stunning, fast and very appealing car for very little money.

So to those who are getting upset and obsessed with values, or are just not enjoying their E types to the full, sell up and re-discover cheap fun motoring (as E Types were in the 1970s / 80s). There is a raft of stunning cars from the 90s onwards that are on the floor price-wise, and with a bit of imagination and some skill can provide terrific guilt-free fun without worrying about residual values.

And for those who think that demand for 1960s classics will just continue rising over the next 10, 20 or 30 years, go and talk to guys under the age of 40 at any car show and see what cars do it for them. 9 times out of 10 it's not cars from the 1960s!

[Alty Ian]

Not all classic car prices are rising, most pre-war and post war saloons have effectively depreciated in the UK in the last few years. It just seems that the more exotic sports cars and very high end marques have rocketed in price due to historically very low and steady interest rates, more older wealthy poeple with high disposable income wanting to realise their youthful ambitions There are still lots of affordable classics around, just not the really desirable ones. The market will settle down eventually,.... I think :?

[Heuer]

go and talk to guys under the age of 40 at any car show and see what cars do it for them. 9 times out of 10 it's not cars from the 1960s!

Well apart from early 911's and E-Type's and DB5's and anything red with a prancing horse obviously.

I can't see more modern cars achieving this cult status if only because the complex electronics are almost impossible to fix economically when they fail and manufacturers build them with a design life of seven years. Try running a Porsche 928GTS! As Ian says, anything mundane (in the eye of the beholder) is depreciating - people want something exotic in their garage. Just look through the cars for sale at that RM auction and there is nothing plebeian (if I am allowed to use that word after Mr Mitchell's contretemps) there.

[Tony]

Having recently bought a 2007 XK ots with 22k on the clock for 22k, you are right to say there are fun cars to pick up for relatively little money, and nice performance. All aluminium body , so no rust and almost a practical day to day car. May never become a classic ( in my life time anyway) but has the feel of open top sport car driving and very comfortable.
Not everybodies cup of tea, but I am enjoying it. As for the E Type that will be for the wife or children to decide. The wife will sell the day after the funeral and the children will take a little more time while they haggle over the split.

They are not really like that but I do not think the E type will be passed down the line. They have their own priorities.

[PeterCrespin]

As Ian says, anything mundane (in the eye of the beholder) is depreciating - people want something exotic in their garage. Just look through the cars for sale at that RM auction and there is nothing plebeian (if I am allowed to use that word after Mr Mitchell's contretemps) there.

"People" have always wanted something nice in their garage. Seems we are all officially agreeing that only people with a shed-load of folding stuff need apply. A consequence of which will be that many of those that do will generally be too nervous to use the things, let alone drive them hard and wear them out.

As a teenager I got into classic bikes (except they were just cheap old bikes I could afford then). I still ride but for 30 years in the bike hobby one of the nice things was the common bond between people from all kinds of backgrounds who shared the unique amazing thrill and risk of riding. If E-types become the preserve of the wealthy, the hobby will lose something valuable IMO.

[SteveG]

So to those who are getting upset and obsessed with values, or are just not enjoying their E types to the full, sell up and re-discover cheap fun motoring (as E Types were in the 1970s / 80s). There is a raft of stunning cars from the 90s onwards that are on the floor price-wise, and with a bit of imagination and some skill can provide terrific guilt-free fun without worrying about residual values.

Much to be said for that. My E is undergoing a slow (for that read very slow) restoration as other projects, house, garden, work and family commitments continue to get in the way. The E-Type is tucked away in the garage maybe getting about 20 hours of attention a month at the moment but it is a long term project and I knew that when I took it on having purchased it from my father.

I know it is a fairly 'safe' investment, even in it's present state it is unlikely to be worth less than I paid for it four years ago, but I bought it as it has been in the family since 1978 and only had two previous owners. In my opinion we are all custodians of these masterpieces and I never thought I would be lucky enough to own one. That said, as David alluded to earlier, there are a multitude of other classics I would have spent money on and still would if I had the time, space (and more understanding wife!), a Lancia Fulvia, TR6 or Frogeye spring immediately to mind.

In the meantime I purchased a BMW Z4, the full fat 3.0 with more than enough power to play with when the sun is shining. I don't care about the value, it's just a good fun car to drive and was a good low mileage, fully serviced car for 7k! More bangs per buck than a lot of 'moderns' on the road at the moment and that silky straight six is pure joy.

Horses for courses. Pay your money and take your choice... 8)

[paydase]

Biggest issue of cars from the nighties onwards, as said above, is the impossibility to fix all the electronic issues.
You will have, more than often for a used car, to procure expensive electronic modules.
Not the funny stuff that we enjoy as enthusiasts today on our E-Types or alike...

[Simon P]

I wish the "enthusiasts" would stop crying into their milk about how "their car" has gone up so much in value. Everything desirable has and I bemoan the fact I should not have bothered with an E-Type in 1999 but bought the other cars I was offered - a DB5 Volante, Ferrari Dino and a Carrera 2.7RS for about the same money

More reason to regret not buying the Porker....

http://rmauctions.com/ve15/villa-erba/l ... ht/1073477