Factory
MGBGTV8 in Tundra
"Incredibly original V8
with only 4,425 miles"
Estimate: £30,000 to £35,000
The auction listing says "in May 2014 with just 4,059 miles,
it was purchased by its most recent owner who has a penchant
for totally original, low mileage classics and added to his
collection storing it correctly and using it only occasionally.
Although in lovely original condition, a little fettling and
detailing to the engine bay would bring the car to the next
level and, given that top examples of this model are now making
substantially more than the estimate suggested here, this low-mileage,
well-historied, four-owner V8 should amply reward the remedial
tidying-up now required. What a great find!" Auction
website
Silverstone Auctions, NEC
(November 2019)
Comment
Preparation of the car - the auction listing says "little
fettling and detailing to the engine bay would bring the car
to the next level" which begs the question why the seller
has not made an effort to deal with that so the car is prepared
for auction as a truly "exceptional and original"
example of the model to attract potentially record breaking
bids.
Full nut and bolt MGBGTV8 restorations by well regarded
specialists can cost owners up to £37,000 and occasionally
more.
Exceptional cars - a mint, rot free car means a lot to
the right buyer. An example with such a low mileage is very
unusual and if that mileage can be proven a buyer with deep
pockets may see a record price achieved particularly an auction
located within such a large classic car motor show at the NEC
in November.
Price estimate - the auctioneer's estimate with the addition
of their buyer's premium at 15% on the hammer price and VAT
thereon will be £35,400 to £41,300 !
History - this car was seen on offer with Hairpin in
December 2018 for £35,000 and believed to have been sold,
although the auction listing says the "it was purchased
by its most recent owner in May 2014".
Authenticity
- if you are buying a car on the basis it has all the original
features then the badging on both front wings is incorrect as
is a switch on the righthand side of the crackle-finish dashboard.
A couple of replacement parts in the engine bay are not original
either but to be fair they are all that are available from most
parts suppliers.
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Factory MGBGTV8 in Damask
Sold at Historics auction in
May 2019 for £33,600!
One of our Pricewatch volunteers attended the H&H auction
at Brooklands on Saturday 18th May 2019 and says the "very
high value lots were within the restricted auction area - for
example the Aston Martin DB6 and its peers. Surprisingly, the
MGBGTV8 was also within this restricted area, given its somewhat
low estimated price (£13,000 to £18,000) and I can
vouch for a continued high level of interest shown in this MG
over the seven hours I was at the auction. Bidding was strong
resulting in the exceptional price including buyers premium
and VAT thereon of £33,600".
See our full report. 190520
& Auction
site
Historics, Brooklands (May
2019)
Comment
Fully restored
car smashed the previous marque record
Classic Car Weekly had a feature on the sale of a "recent
nut and bolt restoration of a genuine Factory built MGBGTV8".
"Utter authenticity during restoration"
The auctioneer, Historics, is reported as saying "this
was a classic case of quality is king. It's a a truly exceptional
car, the skills lavished to maintain utter authenticity during
restoration has paid dividends through a sale price that has
shattered its previous sale estimate". The CCW article
adds "the previous highest price realised by an MGBGTV8
was £17,600 achieved by a car at a CCA auction in 2016".
Authenticity? -
"it's a pity that given the high level of restoration undertaken
on this car to "maintain authenticity", a number
of aspects were not original - for example the random placing
of the nearside wing badges, non original offside wing badges,
leather seats and trim and steering wheel".
Bidding with deep pockets drives prices up
CCW's auction guru Richard Hudson-Evans, said "it's extraordinary,
but it's also what happens at the top of the market when two
or more people decide that they want a car - the money is irrelevant
- they are prepared to pay whatever it takes for it".
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