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+--- Thread: They are still out there! (/showthread.php?tid=2750)
RE: They are still out there! - Mick Hobday - 11-05-2019
The auctioneer started the bidding with a commission bid of £6000, quickly followed by other interested bidders up to about £8000 when two bidders in the room eventually took it to £9500. Add on the dreaded buyer's premium of 18%, plus VAT on the premium (i.e. a total add-on of 21.6%) means that the buyer paid £11552.
RE: They are still out there! - Nick Salmon - 11-05-2019
Thanks Mick. Rather thought it would get to that sort of level.
RE: They are still out there! - Ian M - 11-05-2019
(11-05-2019, 04:45 PM)Nick Salmon Wrote: Rather thought it would get to that sort of level.
Indeed. Price-wise, it seems that oily rag is the new fully restored!
RE: They are still out there! - Tony Griffiths - 11-05-2019
It's difficult to say what merits the car had to attain that sort of price - for adding £8000 (?) for a largely DIY rebuild to fully functional and roadworthy condition and that's a considerable expenditure for which one could buy - at recently-advertised prices - from a number of very fine, professionally-restored examples. Still, the appeal was obviously there, and the two bidders happy to bid it up. You pays ya' money - and takes ya' choice.
RE: They are still out there! - Ian Williams - 11-05-2019
I think at long last people are realising that originality can never be replaced and the woefully over restored show dog is starting to have had its day. I would not like to comment on how original this particular Chummy is, I feel from the pictures that it was probably an older restoration, however it maybe still had enough to warrant the attention two bidders decided to give it. Sometimes people want a car where they do not have to undo previous restoration attempts and are willing to pay for that privilege, times change and each to their own.
RE: They are still out there! - Tony Betts - 11-05-2019
Hi IAN,
I attended, I don't think it was all down to an oily rag over polish.
The winning bidder stood 12 foot to my side, he looked ok at £7.5k but at £8.5k and £9.5k his face changed knowing he was over its value.
But do you loose it for a bid? £500 at a time, or should I say just over £600 inc fees. He didn't.
I think a lot of the interest was his friends felt it was original paint, it wasn't. And that it was a local car.
The main thing with this perchase is that the new owner looks around or under 40 year old. And has made a step into the seven world.
You all keep saying there are not enough young people coming into the hobby.
So welcome him in.
Tony.
RE: They are still out there! - Tony Griffiths - 12-05-2019
"I think a lot of the interest was his friends felt it was original paint, it wasn't."
Which leads one to wonder, if a car like that was extracted from a 92-year-old hiding place in moth-eaten but otherwise absolutely original order (and complete of course with the now compulsory "auction dust"), just what it might make? 30K, anyone?
RE: They are still out there! - Ian Williams - 12-05-2019
Yes Tony if a totally original and unadulterated car were discovered I would think it would be so unique the sky would be the limit as far as price were concerned, the more difficult question is how you would then conserve such a car. They are in reality so few and far between these days that it is not a question many of us will actually need to deal with.
RE: They are still out there! - Mike Costigan - 12-05-2019
The auctioneer published photos of the car in the 1970s when it was then a clearly newly-restored and very shiny example; this car was definitely not an oil-rag original.