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MG TD TF 1500 - Getting Pricey

I just happend to check auction prices for the B-J (Arizona) and noticed two TD's, that sold for approx. $29,000 each. Seems like thats a lot of money for a restored TD, when you consider A-H were going for the mid $30's.

Guess we had better be happy we have ours.

colin stafford

Which A-H's? I would think for 100's this would be pricey but OK for 3000's. I have seen 3000's in perfect shape go for 50k

Chris
Chris Couper

If speculators are buying into classic cars again, we must be due another crash in prices!
Tatty

I was at the Barrett-Jackson auction, this last week in Phoenix. I love to go and see the crazy prices people will pay for cars, and also get back home to see my folks. I looked at the TD's they had for auction, and they were nothing special. Restorations were average, paint jobs were first rate, but rubbers on one of the cars was deteriorating, the bushings on several of the cars needed replacing especially in the front suspension. An additional disadvantage of this auction is the inability to fire up the engine and drive the car. Imagine paying a premium price for a car and not being able to drive it!! People are nuts, but then again that is what the B-J auction is all about, people with more money than brains. The vast majority of the cars sold there, will be trailer queens, not surprising considering the cost of most of the cars. One neat thing, I did have the opportunity to meet and talk to Carroll Shelby. What a guy, 80 years old, 10 years out from a heart transplant, and still knows and loves to talk about cars. If you ever have the opportunity to go to one of these auctions, do so. Where else can you rub elbows with famous people who share your interest in cars and see raving lunatics get wrapped up in the bidding process and spend incredible amounts of money on classic cars. Nothing like seeing bidding on a car go to $950,000 and the reserve not be met.
Cheers, Rob
Rob Silverman

Thanks Rob for the "insiders" report. I have watched the auction on TV from time to time and often the British cars seem "reasonable" compared with the money offered for American Iron. This probably reflects the frenzy of this event and my lack on interest in the latter.
My assessment of the current market is that T series cars are pretty good value at the moment. They are cheaper in N.A. than they are in the U.K. and you can still buy a good original driver or a well restored car for less than the cost of a home restoration. What surprises me is the number of unrestored or partially restored cars that keep coming out of the woodwork (or should that read without woodwork?).
Tony Cove

Good report on B-J auction. I like to really know what these 30 grand MG's look like. Several years ago a 1954 TF (from S. Africa) sold at auction for about $35,000 US and was said to be the highest price paid for an unrestored TF. I have pictures of this car and I don't think it compares to mine, which was bought for one third of that price. A local club memeber recently bought two TD's for about $4000. Both were stored in a warehouse for 30 years and were pretty dirty, but original and restoreable. Even got a complete NOS transmission, fuel pump, and tool set.
That stuff is out there and still cheap compared to B-J.
colin stafford

I spent time in the auction business with a friend. Let me tell you, it was buyer beware. Almost all the cars that I was familiar with were way over valued and had lots of problems (lots of non original parts/work). I am willing to believe that almost all the cars that were there were the same.

Sometimes good cars went through but they rarely made thier reserve. Also a common trick is to put a car through one of these knowing it won't meet the reserve and then sell it privately later. Another trick is to advertise a like model in the local paper in the weeks prior to try to bump the price up. Like a TC listed for $60k once when they had never sold for more than $30k. I called on one of these once and only got an answering machine. Yeah right.

Chris
Chris Couper

This thread was discussed between 23/01/2003 and 25/01/2003

MG TD TF 1500 index

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