Valuing an unusual car for sale

There are a few.

https://grassrootsmotorsports.com/forum/grm/meet-nigel-brimstone-the-ls1-mgb-gt/36685/page1/

https://grassrootsmotorsports.com/forum/grm/first-drive-of-the-mg/28367/page1/

https://grassrootsmotorsports.com/forum/grm/the-ls1-mgb-loose-on-the-streets/29198/page1/

https://grassrootsmotorsports.com/forum/grm/time-to-do-a-checkup-on-the-v8-mg/161664/page1/

Keith Tanner said:

frenchyd said:

Kieth I think Bring a trailer is the perfect place to sell it. Not sure about the summer doldrums though. The markets get weaker late summer. 
But first list it here. You have a Sterling reputation and this site will probably value your work best of all.  

Which circles back to the original question - if I do list it here...how much?

I'll start the bidding at $2021. 
 

oh, you mentioned Craigslist, so $2021 CASH TODAY!

In reply to Keith Tanner :

Don't forget your video.

Steve_Jones said:

Keith Tanner said:

frenchyd said:

Kieth I think Bring a trailer is the perfect place to sell it. Not sure about the summer doldrums though. The markets get weaker late summer. 
But first list it here. You have a Sterling reputation and this site will probably value your work best of all.  

Which circles back to the original question - if I do list it here...how much?

I'll start the bidding at $2021. 
 

oh, you mentioned Craigslist, so $2021 CASH TODAY!

 

$2121 here!

How do you value it? You try to sell it. Two ways to do this: 

1. Auction, and if it is advertised correctly and in the right auctions (BaT, probably), it will get what it is worth (or more)
2. Set a price that you're reasonably confident is slightly too high, and see what offers come in and negotiate from there. 

To me, this smells like a $15,000 car. If it was stock, I think it would be around $8k. If it was in restored condition, I think it would be around $25k up to $40k, depending on how deep the resto part of the restomod went. The V8, plus the work, plus the fact that it is rust free, and chrome bumper, all tell me that someone somewhere would pay $15k for it. 

mtn said:

How do you value it? You try to sell it. Two ways to do this: 

1. Auction, and if it is advertised correctly and in the right auctions (BaT, probably), it will get what it is worth (or more)
2. Set a price that you're reasonably confident is slightly too high, and see what offers come in and negotiate from there. 

 

To me, this smells like a $15,000 car. If it was stock, I think it would be around $8k. If it was in restored condition, I think it would be around $25k up to $40k, depending on how deep the resto part of the restomod went. The V8, plus the work, plus the fact that it is rust free, and chrome bumper, all tell me that someone somewhere would pay $15k for it. 

I was thinking almost exactly the same numbers. 

Not that I have ever priced LS/T56 MGB GT 

Keith Tanner said:

1972 chassis, 1998 drivetrain - on average, I guess it's a 1985 :)

The nice thing about it being a 1972 chassis is that it can be registered in CA without needing to meet smog rules.  That should boost the # of prospective bidders by a lot.

codrus (Forum Supporter) said:

Keith Tanner said:

1972 chassis, 1998 drivetrain - on average, I guess it's a 1985 :)

The nice thing about it being a 1972 chassis is that it can be registered in CA without needing to meet smog rules.  That should boost the # of prospective bidders by a lot.

Local-ish too. 

The first number that popped in my head was $15k, so there's 3 for that number. The problem is we might all 3 be way off and not know it. I also think it's more of a cars and bids than BAT type car. Any recent photos of the body/paint?

15k seems like a steal (jeebus I'd be scrounging everything I could pull together at that price). What does a quality swapped LS miata go for? MGBs and Miata's are priced very similarly for a stock vehicle before the swap. 

mtn mentioned something about condition.  I watched the video and the car itself looks really solid with a nice interior and decent paint, so I'd say $15 would be the low side.

I think in today's market I would post it at $30-35k just because of 2 things. 

1. It's a unique car coming from a known builder. Keith, your name does add value here.

2. It seems like a complete no issues and ready to drive car. 

If I actually fit into an MG properly, I would probably be making my second trip to grand junction for a car.

$15,000 seems way, way too cheap. I was thinking start it at $25,000 and see where it goes.

Cars like this tend to sell for 50-60% of what it cost to build. That means no sweat equity, but recouping at least part of the build cost.

It is a problem when the owner builder thinks they should sell for double what they have in it.

I've been asked what my Jamaican MGA is worth.  Who knows??  Similar problem to Keith's.

calteg said:

$15,000 seems way, way too cheap. I was thinking start it at $25,000 and see where it goes.

Yeah, we are major cheapskates on this site.   I think on a BaT type site it would go for $25k+ easy.   

Absolute lowest I could see this sell for is $20k. The first number that popped in my head is $30k.

BTD said:

As someone who used to work for BaT, I would be surprised if they weren't willing to take this, assuming the paint isn't totally thrashed. Even then, it's a neat enough build to where I think they would be open to the conversation. The curation team will be happy to give you their thoughts value and where a reserve should be set, and they tend to be pretty frank with both numbers. Keep in mind that the reserve is always going to be less than what the "market value" will be. 

I'd say you should submit it with a detailed build list in the submission form, so that they can have as much information as possible. IMO, you'll likely get the most money there, especially with good photos and a nice driving video to show off the V8. 

Hey, I had some BaT questions for you. Don't want to derail the thread, could the email me?  cucumber    one   one zero  at the hotmails   yes, that's my real email address.

I think this car would be $25k+ starting off. I think its more suited for BAT. Cars & Bids seems to under perform on cool stuff, in my opinion. 

Anyway

I always loved this car and would buy it for asking price if I had disposable income to throw around!

I think you need to talk with a  couple BAT pros and see how they think BAT  figures the reserve , 

do you ask for the high number , knowing they will counter with a lower number ?

I doubt if you gave a low reserve that they will tell you to raise it :)

BATs job is to have your car sell so they make a commission ,  just like any other auction , 

Good Luck

OHHH   how do you time your auction so that the Monterey auctions do not  take your bidders ?

Okay, I finally read through all the GRM threads, and the BritishV8 thread.  If you were to offer it up for $15K, I'd have to seriously consider a quick trip to Colorado, and the liquidation of some of my toys.

I agree with others to at least check with BAT.  I suspect you could get at least $20K there, and a lot more if a couple people decide they really want it.

I still have to get signoff from SWMBO, it was meant to be "her" car. I was just trying to get an idea of how to set a value! I'd rather try to sell a car like this directly to GRM than try to maximize profit by dealing with an auction, but I didn't want to come up with an unrealistic price in either direction.

In reply to Keith Tanner :

If it stays in the family you might be able to get it back one day.