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MkIV for Auction

Started by ANF289, September 03, 2015, 18:46:51

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dkp_cobra

Expected £120000-140000, sold for £61,600.
   
   Not a real good estimation.

nikbj68

Oh wow, someone got a bargain! I would have thought £75k-£95k with commission would have been realistic!

ANF289

quote:
Originally posted by nikbj68
   
Oh wow, someone got a bargain! I would have thought £75k-£95k with commission would have been realistic!
   

   Not really, I think it's true market value. It looks like US and European prices are equalizing.

AC Ventura

This car was black, but with a brown interior and also LHD, not a popular combination for the UK market. It's been advertised for around 12 months at least and I'm not clear if its actually UK registered. Prior to acquiring AK 1500, I enquired with the vendor, a trader apparently, who said he paid £80,000 for it and was asking £105,000 I think. At least it sold at auction, a rare thing. The other MK IV at Silverstone Auctions earlier this month didn't sell, but that was an auto.

Hobo

A very nice car in fantastic conditions (as far you can see on photos).
   O.K. the brown interior a little rare.
   To my knowledge you have to pay the "buyers premium" (commission) to Sotheby's which is 25% on top of the hammer price  plus sales tax of 20% on the total amount .
   Therefore the buyer's price finally was £92.400 equal to 127.000 Euro which is an incredible high price for continental Europe.
   MkVs have been sold the last 3 year between 80.000 to 100.000 Euros on the Continent.

nikbj68

Ouch! I was guessing at 15% commission, and hadn`t allowed for sales tax; that and a high £-€ rate certainly make it an expensive car in Europe!

Hobo

As an example: A year ago or so this car was offered for 95.000US$ now marked as sold
   http://www.rosnermotorsports.com/1985-autokraft-ac-mark-iv-cobra-roadster.htm
   Some hard negotiation and cash in your pocket and you may end up with let say 85.000 US$.
   Build 1985 it is deemed as an vintage car with an reduced import tax of 6% in the Netherlands plus shipping (max. 3000 US$) you would have ended with a final buyers price of 83.500 Euros !!
   3-5 years ago you could find some nice MkIVs for US$ 60.000-70.000 in the market, a lot of them found their way to the EU. These days are over, as the US-Sellers are now really aware of the European market prices.

nikbj68

Yes, I remember how much the REV paid for AKL1408, as you say, those days are gone!

Hobo

Oooohh look at this!
   Found the car I mentioned above again.....now in Switzerland.
   
   http://www.autoscout24.ch/de/d/ac-cobra-cabriolet-occasion?allmakes=1&index=6&st=2&typename=cobra%2c%2c&vehid=3214364&vehtyp=10&returnurl=%2fde%2fautos%2falle-marken%3fallmakes%3d1%26st%3d2%26typename%3dcobra%2c%2c%26vehtyp%3d10%26r%3d5
   
   Ok, not imported as a vintage car, therefore more import tax payed. I estimate buyers price than was approx.  100.000 Euros (inside Switzerland).............. but look:
   
   The car is now offered for 183.000 Euros - nearly doubbled the Price !!!
   This is why car traders have a such bright smile in their face !
   
   As all traders playing the same game, potential buyers more and more believe this level is the real market price on the other hand MkIV-Owners are quite happy with such a development.

dkp_cobra

quote:
Originally posted by Hobo
   ... on the other hand MkIV-Owners are quite happy with such a development.
   
   

   
   Only, if they want to sell the car. If they want to use it such a development is not good: the insurance fee rise and the car gets into the focus of professional thieves.

AC Ventura

quote:
Originally posted by Hobo
   
Oooohh look at this!
   Found the car I mentioned above again.....now in Switzerland.
   
   http://www.autoscout24.ch/de/d/ac-cobra-cabriolet-occasion?allmakes=1&index=6&st=2&typename=cobra%2c%2c&vehid=3214364&vehtyp=10&returnurl=%2fde%2fautos%2falle-marken%3fallmakes%3d1%26st%3d2%26typename%3dcobra%2c%2c%26vehtyp%3d10%26r%3d5
   
   Ok, not imported as a vintage car, therefore more import tax payed. I estimate buyers price than was approx.  100.000 Euros (inside Switzerland).............. but look:
   
   The car is now offered for 183.000 Euros - nearly doubbled the Price !!!
   This is why car traders have a such bright smile in their face !
   
   As all traders playing the same game, potential buyers more and more believe this level is the real market price on the other hand MkIV-Owners are quite happy with such a development.
   
   

   
   Yes this is the car Rosner were selling and was previously purchased at auction in the US. I also enquired after this too, when they were asking $95,000 USD and the $/£ rate was 1.6. They also had it over a year. Unfortunately the car wasn't exactly 30 years old and 30% UK Duty and Vat would have been applicable. That plus shipping killed the deal. Also the federalised lights and bumpers would cost a lot to delete if you didn't like them.
   Incidentally, with UK Auction prices Vat is levied on the commission, not the entire hammer price!!! I also imagine the £61,600 includes all that, as auction houses like to maximise their results.
   At this level the difference between what the vendor receives and what the buyer pays is around £15,000. Quite a nice hourly rate isn't it [:D][:D][:D]

Hobo

"....................Unfortunately the car wasn't exactly 30 years old and 30% UK Duty and Vat would have been applicable. That plus shipping killed the deal........"
   
   Yes, exactly this was the situation. However – and in my opinion - when I saw the car I thought that a tough and serious interested potential buyer should store the care inside the USA at a safe place until it gets 30 years old. Storage cost for a few month would be far cheaper than import tax of 30% + VAT(in the UK) or 20% in Continental Europe.
   
   ".................Incidentally, with UK Auction prices Vat is levied on the commission, not the entire hammer price!!!................."
   
   Interesting detail I could to learn today.............many thanks!

Hobo

".................Only, if they want to sell the car. If they want to use it such a development is not good: the insurance fee rise and the car gets into the focus of professional thieves............."
   
   Yes Peter,
   I hear the masters voice.........
   ............however, if you own a MkIV – and you own a very pretty one - you are getting richer and richer based on non-realized "marketprices".
   Paying some more insurance duties is the consequence........always a matter of your luxurious problems.
   If it is properly insured, do not care about thieves, with exception that there are some emotional aspects which can not be reflected in money.

French Frie