by Jackonicko » Wed 06.08.2008, 19:29
Of course, if I have anything to sell, then I'll hope that it will be worth more than i paid for it. That's human nature.
I judge what something is worth by what someone will pay for it, and a good guide to that is what recent achieved prices have been (not asking prices, as you point out). That goes for wheels, and it goes for cars, and it was looking at achieved prices over a long period that led me to the conclusion that white cars sell for cheaper prices than some other cars that are otherwise equivalent.
I'm not trying to drag down prices - especially not of items that I don't personally need (one Elan with four wheels on it, and four wheels in the garage is four more wheels than I need, ultimately). Self interest should be driving me to talk up wheel prices, as I'll eventually have four to sell!
But if wheels are going for £70-150 per set, and if pairs of tyres are slow to shift at £75, then that's what I'd say was a good guide to what wheels are worth. More if they have just been refurbed, obviously, or if they have a brand new set of matching tyres. I'm not trying to drag prices down, I'm just trying to give an accurate answer.
And accurate answers can be very helpful, sometimes. If you're trying to sell something and you ask too much for it, then you can wait forever to get a buyer. And if you're a buyer and don't know what something is actually worth, you can end up spending far more than you need to.
And I do think that over-inflated prices for both parts and Elans are generally a bad thing, since they make it more likely that cheap cars will be broken for spares (rather than enjoyed by less affluent owners) and they make the Elan more expensive to own than it needs to be.
I didn't buy my Elan as an investment, and I enjoy it so much that I'd love to see more cars being owned by people who'd enjoy them. Seeing scarcity drive up its value, (and compromise the type's affordability) would be in my own narrow self interest, of course, but would be rather sad, I think. I am a bit of a weirdo, however, and have given away an Audi Coupe and two MGBs to good, deserving homes rather than selling them.
People out there who can't afford Elans are buying MGFs and MX-5s, you know, poor things. High prices won't help them see the light.
If my Elan is stolen, I'm resigned to the fact that I'll lose out. The purchase price plus what I've spent on it totals more than it's worth in today's market, but it's been worth it to me. (It sounds as though you know what I paid, but with hundreds of pounds of window work needed imediately, dead fans and a dying clutch I paid too much!) It certainly won't be a glorious day, and I'll expect bags of sympathy. But if the market continues to decline, replacing it shouldn't be too painful, I hope.