A true valuation needed!

[barefoot]

Today I emailed http://www.classiccarshop.co.uk/ asking if they would be interested in a part ex with my Mark 2 that I have posted about on this forum here http://www.jec.org.uk/forums/viewtopic.php?f=110&t=6334 I put my car up for sale originally at £49995 and recently dropped it to £44995 as the car stands me at over £70k and after looking at JD classics and other cars that have been restored in a similar vein to mine that start at around £70k I thought my price was pretty fair.

They have a 05 Merc SL55 at up at £32950 that I was interested in and they came back with my car plus £10k to swap which values my car at best £22950. To be honest I was offended at that price and emailed them back saying so and I told them I would post on this forum to see if that was the general consensus of other Jaguar owners which then sent the guy I was dealing with into a bit of a strop! He has threatened me with legal action if I lie or defamate his business which I have no intention of doing.

But in fairness to him I ask the question is his valuation correct should I be selling the car at around £23K and is the SL55 truly a great car that will hold its value like he says it will? I have seen a same year SL55 with 68,000 miles and near enough the same spec as his at £14995 on eBay so if I gave him £10K and my car is that a good deal ?

Kev

[piman]

Hello Kev,

the way to get the best price is to hold on for a private sale, how long this could take is open, of course? Personally I don't think part exchanging it for a modern Mercedes is a good idea financially unless you are desperate for that particular car?
Generally dealers who offer a lot with warranties for older cars, delivery, etc sell dear and buy cheaply to be able to have sufficient margin to operate in that manner.

Good luck.

Alec

[Buzetti]

Hi Kev, at the risk of sounding cynical, I can honestly say that I have never had a really 'good experience' when dealing with the motor trade. I acept they have a living to make based purely on their margin, but many of them really do take the mickey and chance their arm. Seems they aim to 'double their money' - he would probably buy yours for £25k and try his luck at selling-on for closer to £50k I imagine.To me, a 'good deal' is one which leaves both parties feeling satisfied, not where one party feels 'ripped-off'.
Your car looks fantastic - love the You Tube video (and the super MGB and horse - you clearly have an eye for thoroughbreds), but because it is such a long way from 'standard specification', it will have a more limited/ specialist market than a 'standard' car - but, clearly given the existence of JD and similar outfits, plus the popularity of Beacham and Vic cars, there is 'a market' for upgraded cars like yours. A lot of people want the style of a MK2 but with all mod cons - your car could easily end up abroad I would think. I could see someone in, say, Japan fancying it.
You have recognised that you won't recoup your £70k investment which is a good starting point, and I think you may be pushing it a little bit to get to £40k+, but what this dealer has offered you sounds pathetic - the AMG sounds horribly over priced in the first place and frankly will be worth half what you paid in 12-18 months (I doubt they will ever be a 'classic' - too many of them around, and not all that pretty) - for rarity/ potential future classic status, the AMG 63 12 pot version would be a more interesting buy in my view, if it has to be an SL.
My strategy would be to continue to seek a private sale of the MK2 and then, armed with cash, look to strike a good deal on an AMG - there are lots of them around and 'cash is king' in this market.
In terms of selling your MK2, I would look to cover off the following:

1. Maybe drop the price to £39,995? But be pretty firm on that price.
2. Ensure you have it advertised on e Bay (world's biggest shop window) and Car & Classic web site - I would set up a Picassaweb or similar on-line photo album, fill it with photos and give potential buyers a link to that - and/or make a longer, really detailed 'tour of the car' video including lots of it running/ being driven and post that on You Tube - again, provide a link in your ads. Marketing is absolutely key here.
3. Include an advert in next JEC magazine or see if you can get them to do an article on it (that would be a good advert in itself!)
4. Ask JD or a similar specialist MK2/ Classic Jag seller to take the car 'on consignment' - they will display in their showroom, offer a warranty and be able to ask a far higher price than you can - they would probably list your car at £50k+ and return you close to £40k (I am guessing here) - they love this as it's quality 'free stock' - they will guarantee you a minimum price and they keep the difference - sale or return.
5. Consider entering into a top quality auction (Bonhams or similar)

I don't know if this helps, but please don't allow this 'nice' car dealer to rip you off. If I didn't already have a MK2 (https://picasaweb.google.com/1018170782 ... directlink) and was looking for an upgraded car, I could see myself thinking 40k looks about right for yours.

(I really did like that MGB - sounds lovely!)

Good luck!

Buzz
(Poole, Dorset)

[barefoot]

Thanks for the advice the dealer is now threatening me with legal action as I sent him a copy of my post he is now saying he never said my car was worth £21K or £23K he says it is maybe worth £40K which when he emailed me initially he said my car plus £10K for his SL 55 would have been a very fair deal (his words) now he is saying my car is worth £40K that "very fair deal" is not looking very fair methinks!

[stuarthardy]

Hi Kev

Why is it that when I walk away from a car dealer's forecourt I often feel violated?

I know someone who bought a brand new SL55 AMG in 2008 and had no end of trouble with it. He kept it 6 months and got rid of it. Having paid £105k for it, he got £60k back after just 6 months. Unbelievable!

I'm afraid you are experiencing what many others have done before you. There are a great many dealers and so-called marque experts who's only aim is to fleece anyone that walks through their door. They know there are people around with a great deal of money to spare and it is their mission to part them from as much of it as possible. I've seen it in the world of antique clocks as well as cars and boats. This is where the grossly inflated prices come from. The more expensive it is, the more desirable it must be. Did you see the £155k asked for an ordinary E-Type last year? Have we lost sight of the fact that there was 63000 of them made?

Yes, if you sell it you are likely to take a bath on your car but I assume you didn't build it to make money out of it. However, the dealer you spoke to was clearly trying it on and who could blame him? There are a lot of people not sufficiently in touch with reality that might (and will) fall for it. I saw a couple buy a lovely 1968 Porsche 911 and then take it to a marque specialist to do a health check on it. They were presented with a quotation for £38k worth of remedial work, including a £12k engine rebuild! Guess what, they authorised the work. Suddenly the car stood them a nearly twice what they paid for it and there wasn't anything particularly wrong with it in the first place, it was just a little care worn.

Don't fall for it. Stick to your guns and you will eventually get what you want for it and that SL55 AMG will be depreciating further in the meantime. They still have a way to fall in value and don't forget that many of them were lease cars.

Legal action? No-one in their right mind would instruct solicitors over something like this. They are just going to be bled dry by it.

Stick to classics, you are less likely to catch a cold with them and I agree with Buzz, yours does look like a £40k car. Its a pity that our hobby has turned into a cash cow for some people.

Regards