Factory
MGBGTV8 in Tundra for sale
"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 very 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 was 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 listing for the NEC auction 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 incorrect badging on both front wings and a switch
on the righthand side of the crackle-finish dashboard is disappointing.
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.
Posted:
191108
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Factory MGBGTV8 in Tundra sold
Auction result - not sold at £28,000 and
later sold for £31,500
Surprising postings on the auction website
Auction: the hammer appeared to have gone down at £28,000
which was a way short of the auction guide price of £30,000
to £35,000. The bidding started at £20,000 and
rose in £1,000 increments to £28,000 and there
is stuck until the hammer fell. The bidding was partly by
telephone with a few bids from the auction room.
But later the auction webpage for the car said "Not
sold"!
But later the auction webpage for the car said "Sold
for: £31,500"
Auction website
Silverstone Auctions, NEC (November
2019)
Comment
The rapid changes after the end of the bidding are
interesting. It seems likely a sale was concluded a short
while after the auction. The price of £31,500
shown on the auction website appears to be the hammer price
plus the buyer's commission of 12.5%. With the addition of
the VAT on the buyer's commission the buyer would have paid
£32,200. See our calculation below:
Chart
The chart at the head of the webpage shows the hammer price,
price paid by the buyer and the net sale proceeds received
by the seller.
See a full
size chart.
The engine bay was a mess and one can only wonder why with
an "exceptional" car with a high auction estimate
the vendor did not invest modest funds to tidy up the engine
bay to match the general appearance of the car. The engine
bay had a black antirust coating everywhere spilling over
on to the slam panel. For a car with less than 5,000 miles
from new, it was puzzling why a chrome grille surround had
been used to replace the original anodised aluminium unit
which would have been a valuable originality feature. The
Dunlop composite wheels did not have chrome rims but a grey/silver
polished finish. Photo
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