Silly Prices For Mk1's??

Most of the Mk1's (Campaigns) I have seen over the last couple of months I would rate at 'E' on the price guide, restored but in need of some minor cosmetic work but overall in good shape… ?2750?? If this is true why does everyone want between ?3500 - ?4000, are these cars beeing sold for that money and what has happened over the last 12 months to justify this massive hike in price?? I remember seeing a Lhasa Greem Campaign at the Harewood House show at Leeds 18 months ago For Sale, it was in great shape with full history, Mot & Tax.. he wanted ?1000. From what I have seen over the last couple of months that would now go for ?3500!! Whats going on??

You see i have seen the same happen in many different scenes.

I am into my VW Beetles and Camper Vans. I have seen the prices for Bugs go through the roof and Camper Vans have just gone ballistic at the moment.   I have seen people given vans from neighbours that they just wanted off the drive. Now the same rot boxes are fetching three grand.

The same happened with Lambrettas and Vespas, prices rocketed last summer and have come down again. They will go up again I have seen it happen.

Is as much about fashion as the vehicles themselves.

Retro is cool at the moment look at programmes on the telly such as 'Life On Mars" it's had a direct effect on retro Fords !!!!!  

 

Happend with MK1/2 escorts. 4 years ago you could get a 2dr for ?50 in rough condition, now a rotten but salvageable shell will make ?500! Solid cars ?1500… And that's for now special just an 1100…

Supply and demand as stocks diminish rapidly…

TT

twinturbo said

Happend with MK1/2 escorts. 4 years ago you could get a 2dr for ?50 in rough condition, now a rotten but salvageable shell will make ?500! Solid cars ?1500… And that's for now special just an 1100…

Supply and demand as stocks diminish rapidly…

TT

I know exactly what you mean in regard to MK2 Escorts but that is because there is genuinely very few left in a salvagable state, but Mk1 Golfs there is a hell of a lot more knocking around. So to me that is not the reason for the hike.

nma said

twinturbo said

Happend with MK1/2 escorts. 4 years ago you could get a 2dr for ?50 in rough condition, now a rotten but salvageable shell will make ?500! Solid cars ?1500… And that's for now special just an 1100…

Supply and demand as stocks diminish rapidly…

TT

I know exactly what you mean in regard to MK2 Escorts but that is because there is genuinely very few left in a salvagable state, but Mk1 Golfs there is a hell of a lot more knocking around. So to me that is not the reason for the hike.

This explains the supply side. Its also possible that demand has gone up, as the Mk1 gets older it will differentiate itself from modern cars more and more. If you don't want to spend that much, you can always seek out a Mk2, should be able to get a decent one for less money. But, the Mk1 has (somewhat intangible) attributes over the Mk2 which have pushed the prices up.

Its also possible that owners are advertising their car with inflated prices as a 'feeler' and they are not selling. In other words, they are merely trying to gauge its value. So you'd have to go back to the ads you've seen, phone the seller and ask how much it eventually sold for, if it did.

paul_c said

Its also possible that owners are advertising their car with inflated prices as a 'feeler' and they are not selling. In other words, they are merely trying to gauge its value. So you'd have to go back to the ads you've seen, phone the seller and ask how much it eventually sold for, if it did.

I've done all that! They are not for budging on price and I know Mk1's I've owned them for past 15 years but I don't think they are worth what they are asking.. so I aint paying but I will never know if they actually sold for that, It's alright asking a price but it's still only worth what someone wants to pay? I've now decided to knock it on the head and keep the VR cos the people I have had dealings with have been right muppets and total dreamers!

It seems unwise to sell a car with an advertised price and then not move on the price. Everyone knows that with secondhand cars you'd barter a little bit, its part of the etiquette of dealing in cars! The trick is to set your advertised price low enough to attract interest, yet high enough to leave some space in between it and your lowest price you want.

Its very hard to know what prices cars actually go for, especially for cars that fall into the Mk1 Golf age range - its so dependent on condition, that its really hard to generalise prices for particular models or years.

Its an overused phrase, but a car is worth what someone is willing to pay for it. If for example someone was after a very particular colour and model of Mk1 with certain features, then they might pay over the odds to get that exact spec even though the price might be deemed over the odds by someone who is not fussy about particular models and just wants a Mk1.

The fashion effect can't be underestimated either - many things 70's/early 80's vintage are now deemed to be cool retro, and that goes for cars as much as anything else.

If looking you just have to be prepared to put in more legwork than the next person and be sure of what you want and your budget. Something will turn up eventually, but it may take a while and you will have to look further than ebay / on-line classifieds to get the true bargains.

When selling it seems common sense to ask for slightly more than you want for an item - in my experience, especially with cars people will always try and haggle you down. If you want to sell in a reasonably short amount of time though you have to be prepared to drop your price eventually until it sells.