Re: Holly cow
From: Brian E. Buxton (BrianBuxtonBuxtonMotorsports.com)
Date: Tue, 11 Dec 2018 20:51:35 -0800 (PST)

Doug,

Late responding to this one but just had a chance to sit down and go through some e-mails not related to work ...

It's been my experience that when buying and selling an exceptionally low mileage vehicle the selling point is 1. condition and 2. rarity.  Kep in mind this doesn't always lead to value, because for that there has to be an interest in owning the vehicle.  But when there is a potential buyer can't line up 4 of the same car with the mileage to price shop.  And no matter how well you take care of a vehicle, you will never be able to keep it as nice as a car that hasn't been driven.  Hasn't been in the rain  Hasn't had bugs hit the paint and feet rubbing dirt into the carpet.  You are correct that sitting for years can dry out the rubber on tires, brake lines and various hoses and bushings.  But a 100,000 mile car will need the same things replaced from the same age combined with wear and tear.  And that car will have far worse condition carpeting, paint, etc.  And (with demand) these cars will always bring more money.  Last summer I sold a 1997 Bentley Azure with 2,700 original miles.  No leaks, suspension worked perfectly as did the top, a/c was cold etc.  The car was black with a white / cream leather and it looked new in every respect, still smelled new with the overpowering aroma of fresh leather.  I paid up for the car quite a bit, with dealers I knew telling me the car was a $30,000 wholesale car and maybe $45,000 retail.  I had 3 buyers interested (one who was a very well known Ferrari collector who also worked for Bentley and Rolls Royce in his younger years - Ron Spangler (RIP)), and the car ended up selling just shy of 6 figures.  Far more than any other Azure on the market would bring.  But as I stated above - go find another one.

The one trap I think people fall into is trying to over-maintain their low mileage cars.  Replacing things that don't need to be replaced.  Brake line and tires change for safety.  But do you need to replace a coolant hose or water pump before it fails?  It could last 2 days and it could also last 8 more years since it hasn't really had to work it's intended job.  Ferrari dealers do this because they want to charge the owners as much as possible.  Yes plug wires have age, but if they aren't cracked and are functioning correctly why replace them until they fail?  Esp when they are very easy to replace.  Just to spend money?  I had a buyer interested in a 34.000 mile Mercedes SL55 AMG I had for sale.  The guy had never owned a Mercedes before, and "heard" that the hydraulic pumps for the top will go bad.  Which is true.  But he was wanting to negotiate changing the pump into the price of the car - and there was NO problem with the top system at all.  To me that's just throwing away money to fix a non-existent issue.  Deal with it in the future *if* it becomes an issue.

In my opinion over-spending will bury anyone in a vehicle that isn't highly valued and sought after.  Although there are some people who do this simply to keep a car they love on the road, and money isn't a consideration.  Restoring rusted out Porsche 356's, etc.  Some people in this group have done this with their own Ferrari's.  The other issue you are going to deal with is are you buying a very low mileage car to drive?  If so you are throwing a $100 bill out the window every time you click 100 miles,  You are negating the very thing you're paying up for - low mileage.  Or is the car more of an investment, which then begs the question do you service the car at all until you want to drive it.  Changing a fuel cell in an undriven F40 or McLaren F1 every 6 years is a waste of money unless you're going to service the car then *use* it.


-- 
Brian E. Buxton 







On 12/8/18 12:40 PM, Doug & Terri wrote:

Brian notes “308/328 . . . . with exceptional low mileage cars [are] bringing over $100k.”

 

I personally have pondered the wisdom buying an “exceptionally low mileage car” which is now between 35 and 44 years old. 

 

I just finished a suspension overhaul on our 1978 308 GTS and I personally shudder to add up the dollars as to what it took between the “well . .  as long as we are here” and then to finally get the car back on the road - - - and I did the work myself under the auspice of the ever watchful eye of a Pebble Beach winning tech pointing the way.  Turn him loose at his going rate and to make ANY car road worthy to “exceptional” standards would be astronomical. 

 

Now here’s an example and I invite our worthy readers to slap me around if I am off track.  Except for Clyde.  :  )  Let’s say the bill, parts and labor, to bring up a low mileage car to road worthy and trusted conditions comes to $25,000.  That means I have to earn 50,000 taxable dollars to have $25,000 spendable dollars.  That puts an exceptionally low mileage (read UN-DRIVEN) car now at $150,000 for me and it may be worth only $80,000.  The math just doesn’t add up.

 

Give me a car that’s been enjoyed and driven, reasonably, and I’ll show you a car that can answer to that Sunday drive without trepidation.

 

Of course if I had just bought that 288 GTO a few years ago for $300,000, drained the fluids and put it in a hermetically sealed box . . . . but then I also passed up on a few Van Gogh’s.  LOL

 

DOUG

 


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