Alberta Land Rover Enthusiasts Club Forum
Classifieds => Vehicles for Sale => Topic started by: Rambler on April 10, 2019, 08:37 PM
Ouch. 15k for a project and the engine is seized ;)
https://www.kijiji.ca/v-classic-cars/calgary/1961-land-rover-series-2-project/1426408453?enableSearchNavigationFlag=true
Maybe it's because I remember buying an intact running 88 back in the 80's for about $800 but $15,000 seems nuts for a bunch of parts.
Quote from: headdamage on April 10, 2019, 09:34 PM
Maybe it's because I remember buying an intact running 88 back in the 80's for about $800 but $15,000 seems nuts for a bunch of parts.
Well, with real inflation running at about 9%, thereby decreasing the unit value of any given currency by a minimum of 50% every 5 --> 6 years, the real value of $800 in the early 80's isn't far away from $15,000 today. :)
Geez Trevor,
That a dire calculation. I'm draining my bank account before its too late and buying scrap.
People can ask whatever they want. The current asking prices for Defender is a good example. Perhaps there are people that pay the high prices, but I've not met one in person.
Quote from: Lightningpower on April 11, 2019, 09:22 AM
Geez Trevor,
That a dire calculation. I'm draining my bank account before its too late and buying scrap.
Yes, inflation is a rather nasty thing.
And the reality is governments have a vested interest in keeping the "official" inflation number low. Inflation rate is what is used to calculate cost of living increases across the entire government spectrum of payments, so a higher inflation rate means a higher payout from government coffers.
So they have gradually changed the inflation calculation method to ensure a low number is always generated. The current inflation calc used by Canada, US, and all western governments no longer represents what is actually happening. If one uses the formula's used back in the 70's and 80's, when it was not distorted AND when the rising costs of things we buy actually was factored in, you will see our actual inflation rate today is right around 9%.
And every point of inflation decreases spending power and the effective "value" of fiat currencies. So it's a double whammy.
You can track real inflation here if you are interested, and get a good (and honest) description of the history of these calculations.
http://www.shadowstats.com/alternate_data/inflation-charts
Trevor, if I read you correctly... 15K is not unreasonable, if you factor in real inflation according to the website you've suggested. (Which was shocking, by the way.) 15K, however is far from what the market will reasonably bear in our local economy. Therefore, best way to step off the inflationary grid is to buy old land rovers, as they are exempt in our local economy. Of course, the upshot is that you have to store a lot of iron you have bought in inflationary defiance and have screwed yourself because your expenses go up and your land rover didn't at an equal rate. Can you trade parts for potatoes?
I adore old Land Rovers. The increase in value in recent years is a cause of dismay for me, because I would like to gather up a nice little grouping of them to play with. Selling hasn't interested me yet in 15 years of Land Rover ownership. Some day I will have to, I suppose. And I might lose my shirt. But its cheaper than drugs and healthier than potatoes.
The real question then is: What is this guys Rover worth in our local economy? (In dollars, not drugs or potatoes).
Yes indeed, there are two things at play here. The inflationary effects we discussed, albeit very real and very relevant, do not trump the basics of what the market will bare. They are an influencing factor, not a determining one.
Quote from: Lightningpower on April 12, 2019, 10:22 AM
The real question then is: What is this guys Rover worth in our local economy? (In dollars, not drugs or potatoes).
Having bought another series in the past year (not on the road, but near enough complete) I would think something in the region of $3500 to 5000, depending upon condition and if it ran in the near past.
Quote from: Rambler on April 12, 2019, 08:28 PM
Quote from: Lightningpower on April 12, 2019, 10:22 AM
The real question then is: What is this guys Rover worth in our local economy? (In dollars, not drugs or potatoes).
Having bought another series in the past year (not on the road, but near enough complete) I would think something in the region of $3500 to 5000, depending upon condition and if it ran in the near past.
I would agree with this as realistic for this truck. While he may think it's worth more, torn apart projects that are half done aren't really that valuable as there is still a lot of work to do (and depending on how well it's done so far, to tear out and redo possibly). The parts truck doesn't add much value either.
The US prices are higher, but their influence on the Canadian market is small, as fewer people here have deep enough pockets to pay the high prices, but lots of people see that and think they can get it here too. No help that Hagerty's just published an article crowing about rising Series prices, with inflated values based upon minimal data.
The average Series truck, even nice ones are still a relatively small market of people who want them, and aren't rare enough to command really high prices. Value on the market and what you have into it aren't the same thing.
It could also be his wife is giving him grief about it, so he put it up for sale with an optimistic price to appease her, knowing it's unlikely to sell.