ausmini :: View topic - How much should i pay?

Mike wrote:

Its all about it being well sorted - ie if all the small things have been done too so the car is a good looking and reliable as a daily drive. this costs money to do and is worth money when sold.

That's what I was thinking... I mean... there's 7 grands worth of work and parts done to it even before you even take into account the body.

Reco an engine and gearbox, fit disc brakes, headwork, extractors, 12" wheels, extra Smiths guages (oil pressure, temp, amps, tacho), electric fuel pump, brand spanking new windscreen and wipers... I'm sure it would add up. And then there's the bare metal respray on a body that was never rusted out.

Is that fair? I say all of the above but I also know that people can never regain money they spend on cars.

Author:	Molina [ Sat Jul 09, 2005 4:27 pm ]
Post subject:	How much should i pay?
Ok guys... i am going to make a decision on a mini this afternoon or early tomorrow... I just need to know that it's priced fairly. I understand that to make a proper assessment on the value of a car that it needs to be seen in person but I can't take you guys there so I'll just have to describe it. It's a 1967 Morris Mini Deluxe... British racing green with white roof. MG Metro engine bored to 1330cc... SU carby... The previous owner had the bare shell bead blasted about 5 years ago so there's no rust on the shell. Over $1200 spent on cylinder head -street/comp port, CC and valve job done by Headstud Development. Full gearbox rebuild, new gearsets and diff, all bearings and thrusts. Mild Wade camshaft with custom profile. C/R 9.4:1. Duplex Rollmaster Timing Gears and chain.1 3/4 " Carby, LSB extractors. New carpet, hood lining, recently repadded custom dashboard in period racing style & Hounds Tooth Print seats. Full set of Smith's gauges, all reconditioned, including original 60's Racing Smith's Tacho in spun aluminium case set-up, to suit new electronic ignition system, no points! Front discs fitted to suit 12" wheels, near new Falken tyres, new Cooper rear spacer drum brakes and shoes. Leather Bonnet straps, comp bump stops all around, hydrolastic suspension. It also comes with a small box of spares which includes stuff like headlight chrome, quarter window, heater, wing mirror etc... I got the guy to have it checked for roadworthy and it needs CV joints, ball joints, new ADR seatbelts and i think it needs a new handbrake cable... He got a quote for $700-800 and when stating what you reckon the car's worth assume that the seller pays for these items because I think he's expecting to. What do you guys reckon it's worth? I can say that the paint is in great nick with no scratches or dings (except for a small parking ding in the rear bumper)... No a spot of rust or questionable areas of paint. Drives good although very loud. I need to make a decision soon or it might get snapped up by someone else.

Author:	9YaTaH [ Sat Jul 09, 2005 4:36 pm ]
Post subject:	four grand to start
Maybe 4 to 6 grand up?? You don't want to pay too much do you? make an offer

Author:	FatMaserati [ Sat Jul 09, 2005 4:45 pm ]
Post subject:
If it's as good as it sounds, then $6000 sounds reasonable. Though, I wouldn't go much higher. Has he actually got a price in mind?

Author:	Molina [ Sat Jul 09, 2005 6:00 pm ]
Post subject:
He bought it for $10,000 last year in October... I spoke to the previous owner who verified this price. The previous owner outlined the extensive work that was done to the car over the 10 years that he had it for. He said he spent 2 grand on the head alone and the engine and gearbox was rebuilt a few years ago. The whole car was stripped back to bare metal and bead blasted inside and out. He had all the seams welded on the inside as well. Double spot welds. The previous owner is a mechanic for Mercedes and I recently found out is an old mate of a friend of mine. I'll post some pics... they're not really showing the car as shiny as it is in person. The dash is a bit tacky looking but it was being built up to race and thus has more guages and no comforts like a heater.

Author:	FatMaserati [ Sat Jul 09, 2005 6:11 pm ]
Post subject:
$10,000... Mmmm... That's a tad high. Offer $7000 maybe.

ausmini https://www.ausmini.com/forums/

How much should i pay? https://www.ausmini.com/forums/viewtopic.php?f=2&t=8928	Page 1 of 2

Author:	Molina [ Sat Jul 09, 2005 6:19 pm ]
Post subject:
$7000 is what I was going to pay... He wants more but I think i can get it for 7. Is that too high... there is a lot of comfort in the fact that i know the guy who put it together was a genuine bloke who knew what he was doing. Most cars you buy you just have to take the seller's word and trust that they aren't an arsehole who's selling a lemon. I don't know if anyone remembers but there was a series of RACV ads where celebrities were acting like they were going to buy cars that were unsuitable for them. Well in the ad Andrew Gaze was looking at buying a mini. This was the mini that appeared in the ads. Oh, and you may have misinterpretted me... the current owner bought it for 10 but isn't expecting to sell it again for that much.

Author:	Mike [ Sat Jul 09, 2005 6:41 pm ]
Post subject:
6K c'mon - if its a well sorted roundnose, in a good condition, with relatively new box and engine etc - 8k is a reasonable price. I wanna see anyone buying a rebuilt car with a good paintjob for 4-6k. Its all about it being well sorted - ie if all the small things have been done too so the car is a good looking and reliable as a daily drive. this costs money to do and is worth money when sold.

Author:	Molina [ Sat Jul 09, 2005 6:48 pm ]
Post subject:
Mike wrote: Its all about it being well sorted - ie if all the small things have been done too so the car is a good looking and reliable as a daily drive. this costs money to do and is worth money when sold. That's what I was thinking... I mean... there's 7 grands worth of work and parts done to it even before you even take into account the body. Reco an engine and gearbox, fit disc brakes, headwork, extractors, 12" wheels, extra Smiths guages (oil pressure, temp, amps, tacho), electric fuel pump, brand spanking new windscreen and wipers... I'm sure it would add up. And then there's the bare metal respray on a body that was never rusted out. Is that fair? I say all of the above but I also know that people can never regain money they spend on cars.

Author:	9YaTaH [ Sat Jul 09, 2005 8:09 pm ]
Post subject:	sounds good eh...
Molina wrote: Mike wrote: Its all about it being well sorted - ie if all the small things have been done too so the car is a good looking and reliable as a daily drive. this costs money to do and is worth money when sold. That's what I was thinking... I mean... there's 7 grands worth of work and parts done to it even before you even take into account the body. Reco an engine and gearbox, fit disc brakes, headwork, extractors, 12" wheels, extra Smiths guages (oil pressure, temp, amps, tacho), electric fuel pump, brand spanking new windscreen and wipers... I'm sure it would add up. And then there's the bare metal respray on a body that was never rusted out. Is that fair? I say all of the above but I also know that people can never regain money they spend on cars. Hot rodders have this problem all the time..."but I've spent 60K in chrome alone".....its a car mate!...and theres rust under the seat.. Noone can expect to fully recoup the big outlay on a car..everytime...especially if it is stuff you can't see...reciepts or no. Offer him your 7K firm, if you can afford it, and see what happens.

Author:	drmini in aust [ Sat Jul 09, 2005 10:12 pm ]
Post subject:
We paid $7K for Barney, a good ground up rebuild and it only had a good 998/1098 in there.. also had Honda Civic discs. So I'd say at ~$8K yours is fair. $7K it's a bargain.

Author:	ELMO [ Sun Jul 10, 2005 1:04 am ]
Post subject:
Molina , I paid $7000 for my deluxe sight unseen from Melbourne because of the same things i.e. Reco engine and box ,reco rack , new disc's and master cylinders new rubbers and windscreen.... etc..etc.. I still had to finish the interior and tweek the rest of the car , instruements, bumpers and more . Try building a car yourself without spending years or calling in lots of favour's. As the good DR said $8000 was a good buy for him but it was still a starting point for him to complete to his satisfaction, i.e new motor, carby's , dizzy etc Steve

Author:	Molina [ Sun Jul 10, 2005 12:17 pm ]
Post subject:
I think I'll buy it... I just need to convince my folks that it is a good idea to buy a tiny little tin can that is probably as unsafe as you could get. It's also the noisiest car i've ever been in so I'll need to do something about the exhaust if i am to drive it round the burbs. I'll offer him 7 and walk away if he doesn't take it.

Author:	Harley [ Sun Jul 10, 2005 2:40 pm ]
Post subject:
Rego included? That car has been for sale for ages. In Seaford isn't it? $7k is certainly better than the $12.5k he wanted some time ago. Quote: ....tiny little tin can that is probably as unsafe as you could get. I'd rather be in my mini than my excel or other modern plastic car.

Author:	Mike [ Sun Jul 10, 2005 3:03 pm ]
Post subject:
But if you do end up paying the 7 or 8k - there's a lot of allowance there for you to comb this car like a nit picker, making sure that its as good as they say it is, and pointing out all defects and also estimate for yourself how much it'll cost to rectify them.

Page 1 of 2	All times are UTC + 10 hours
Powered by phpBB® Forum Software © phpBB Group http://www.phpbb.com/