Actual Worth vs Sellers Expectations

I quite fancy a series 1 if I can find one for sensible money and as such am constantly looking on ebay to see what is about and at what price. If you ignore all of the austrailian imports for full restoration there are never that many from private sellers. however the ones that are never seem to make the reserve price. They tend to get up to what I would consider about right for a running vehicle in need of a little work (about 8-9k) but then do not sell because the seller wants more money.
I have seen the same thing regularly happen with other classic cars. I also quite fancy a spitfire, again running but needs work, but on an auction they get to what I consider to be a sensible price (3-4k), but they then end with the reserve not met.

Are people just expecting too much for there old British classics or are the people looking to buy old British classics just not will to spend money? I would have though that an ebay auction is well enough advertised that the price it reaches after many bids is more or less what the vehicle is worth.

Has anyone else found this with vehicles?
What would people expect to be a fair price for a running but not perfect series 1?

Of course they have raised expectations. Look at all the PR nowadays- Goodwood, James Bond DB5 for sale etc etc. Most classic car websites quote ludicrous prices for S1's and Spitfires etc. IMHO that's not the way to get your hands on one. Personal contact and local knowledge, Gumtree, local media etc. Within a 20 mile radius of where I am I know of at least three S1's of which one could be bought at the right price knowing that the owners can be persuaded but I don't have the interest (yet). If you extrapolate this situation there's loads of off market opportunities. Last place to buy should be the internet or auction that's for peps with more money than sense.

I don't bother with the prices asked for as to gauging how much I'd spend on ebay .. Use the search function to look at the prices things have actually sold for to get a better market value, if you want to do it that way.

But yes, people have an inflated sense of value when they're selling ...

When I was buying my 90 it was more about finding a seller with realistic expectations than finding the vehicle that was right. As you have said 90% believe the hype and are asking 30% - 40% more that the vehicle is actually worth. I saw one 90 close to me listed for a week each time re listed 7 times as each time the seller would knock £250 off the price. It never did sell.

Stupid Money for MGs at the moment. Not worth it & the price of parts going up quicker than a Landrover. Then no space inside.

Landrover
Import the item straight from Australia & cut the middle man out.
Family Was offered a S1 107 in the container as there was space for 3k
But this was turned down as already have one. They Purchased flat back 2B as none good/reasonable priced

If I want a good motor I find a phone call & a cash/bank transfer offer works when I'm there. Most will accept. I turn up with a trailer & will drive off if the deals not good which puts the seller straight on the back foot

Paul D said:

...don't bother with the prices asked....Use the search function to look at the prices things have actually sold for to get a market value...

Click to expand...

^^^^^^^^ this

Paul D said:

I don't bother with the prices asked for as to gauging how much I'd spend on ebay .. Use the search function to look at the prices things have actually sold for to get a better market value, if you want to do it that way.

But yes, people have an inflated sense of value when they're selling ...

Click to expand...

I already do this, I am not referring to the buy it now or classifieds, these are auctions with a reserve. So they get bid up to a sensible or even high price but still do not meet the reserve the seller has put on. They tend to all get bid to about the same price but this is not enough to beat the reserve!

John S said:

Of course they have raised expectations. Look at all the PR nowadays- Goodwood, James Bond DB5 for sale etc etc. Most classic car websites quote ludicrous prices for S1's and Spitfires etc. IMHO that's not the way to get your hands on one. Personal contact and local knowledge, Gumtree, local media etc. Within a 20 mile radius of where I am I know of at least three S1's of which one could be bought at the right price knowing that the owners can be persuaded but I don't have the interest (yet). If you extrapolate this situation there's loads of off market opportunities. Last place to buy should be the internet or auction that's for peps with more money than sense.

Click to expand...

I know of three locally which are in storage rather than on the road, two of which are parked at the edge of a field. I have already asked the owners and the one in the barn rater than the field I have asked ever year for about 6 years. I know they will not sell them, and when they eventually do there will be very little which is salvageable! I know of a series 2 in the same position.

Hicap phill said:

If I want a good motor I find a phone call & a cash/bank transfer offer works when I'm there. Most will accept. I turn up with a trailer & will drive off if the deals not good which puts the seller straight on the back foot

Click to expand...

I have done that before when buying other cars. It tends to focus the sellers mind a little when you turn up to view and test drive with a car trailer. Although I have still had sellers refuse this and insist on letting the auction run. That annoyed me as it was about 4 hours away and I was up that day for work anyway, it was a £100 nissan micra with a weeks mot, I was going to race so no chance I was travelling back up again!

Not as bad as looking as looking at a fender noticing the numbers were different & the person on the end of the hpi call saying please wait for the police.. & it was a nice motor with a hpi done off the logbook so seller not happy.
I know what you mean about the trailer. I would say park it round the corner but some one may nick it.

I'd be great to have a localised market like what it used back in the day.

You could try joining the Land Rover Series One Club , or more specifically their forum . Series ones , in all shapes and sizes ,are regularly offered for sale , usually by people who are enthusiasts and are not out to make a fast buck .

Remora107 said:

You could try joining the Land Rover Series One Club , or more specifically their forum . Series ones , in all shapes and sizes ,are regularly offered for sale , usually by people who are enthusiasts and are not out to make a fast buck .

Click to expand...

Thanks, I will have a look at that, I am no rush and happy to travel with a trailer it is just finding one that does not require a complete strip down and is still going for sensible rather than unreasonable money.