I was browsing ebay this lunchtime, and came across an amusing little story....
Someone, 20 years ago, won some money and decided to buy (but not register) a car to keep as an investment. It cost him roughly £4800.
He kept it locked away safely, and now, 20 years later is trying to cash in his profits. It's like new with only 18 miles on the clock.
The only downside was the choice of car......
It was a top of the range Austin Metro, 1.3HLE (white, with orange interior).
The auction runs for another couple of days, and the bidding has reached £1500. I think he'd have been better putting the money under the matress.
Having said that, I can't think of a single car in this price range that would have appreciated over the last 20 years, so I guess you can't win.
Ian
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they were rusty underneath when new
so it cannot be in tip top nick!
ex rover staff id = ?????? ha ha no chance
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IKR
I think his best option would be to give the producers of Drivel a ring and get them to hoike it around with some ex-Big Brother inmate at the wheel to fill up a couple of minutes between the adverts!!
I suppose he has a unique car. How many other Metros of that age still exist?
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What a fool! In all seriousness, a Metro wouldn't have been my choice of car to mothball as an investment.
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Poor choice of car, but not such a stupid idea. If he'd got it right it could have paid off handsomely. One of my great idea's which never saw the light of day was to buy a new motorcycle, still in the crate and unassembled and store it for however long.
Imagine today being in possession of a brand new Ariel Square Four or the Vincent Black Shadow in as new showroom condition with zero miles on the clock. Worth a bit, I should think.
By the way, both the above were before my time, just examples. Honest.
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Cant believe someone would bid £1500 !
Must be worth £ 50 max. Just think of all the rubber components that have perished (particular brake/suspension components).
I suppose a museum might go for this kind of car. Good example of the s***e BL were producing.
Probably should have bought one of the last MGB's. That would fetch 12-15K today, or maybe of MK1 Golf GTi ?
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Anybody who has ever restored a 'barn find' or reads magazines like Practical Classics will know of the sort of problems that are going to be faced by someone using a car that has not run for 20 years:
Many seals will have failed or will fail soon; in the engine (water pump, crankshaft oil seal etc) and brake system; tyres need replacing; wheel bearings will have suffered from sitting in the same place for so long, etc. This engine was designed for LEADED petrol! If I were the owner I would strip, inspect and rebuild all the major units. This would be a novel experience for me because for once they would not have a thick coating of gunk and filth to clean off first :-)
Remember in 1982 the Metro was considered a good (if perhaps badly built) car in that price range. Some of the other new cars around in those days: Renault 4, Fiat 127, Talbot Horizon, Morris Ital, Vauxhall Chevette, Lada 1200, Citroen Visa, Datsun Sunny, Peugeot 104...
CMark
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Why sell it?
If it's only going to fetch £1,500 and it's in roadworthy condition, what other car could you run for a year or two from new and only lose £1,500?
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Interesting bit on Top Gear.
Mini One, purchased last year for £10,000. One year later, selling for £10,500.
Damn.....
Andy
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Interesting bit on Top Gear. Mini One, purchased last year for £10,000. One year later, selling for £10,500. Damn..... Andy
Wonder what his insurance for the year was?!
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Did a new Metro really cost £4800 twenty years ago?
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March 1982 list price of a 1.3 Metrol HLS 3-door was £4948 so maybe he got a discount. The Vanden Plas version was listd at £4995.
The only car I can see from that era and price range that might have had a chance (with hindsight) of being a modest investment is the 2CV Charleston at £2882 or he could have had two 2CV Specials at £2399 each. I wouldn't mind betting someone would buy those now for over the list price then. Doubt it would anywhere near cover loss of interest, however, had the cash been invested.
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That's what makes this forum so good. I just knew there'd be someone who could quote twenty year old list prices!
Where did you find them, by the way?
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Motorists Guide to New and Used Car Prices which was a monthly then, don't know if it is still around. I still use the couple of editions I have from the 70s and 80s to check out the spec on the occasional banger oddities that come up locally. Last one looked up was an N-reg Opel Kadett so where do you get info on old model variations if you throw everything away? That's my story for my wife and I'm sticking to it.
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