JDNSW
14th June 2008, 08:19 AM
Several recent posts have made me think about the question "what is it (a particular Landrover) worth?". See for example an apparently good condition Disco V8 bought for $2500, and posts commenting on the high asking prices for a Series 2b and a Perentie.
The short answer is - it is worth what it sells for. Which does not help if you are either selling and want to know what price to put on it, or are buying and want to know whether the price is reasonable and if not what you should offer.
For popular Landrovers, such as Discos, where there is a substantial number on the market at any time or place, sources such as Red Book give a reasonable figure, although once a vehicle gets to be more than perhaps ten years old, condition, extras, mileage and service history become much more important than either age or mileage - and factors such as that "V8" is a dirty word these days may have a much bigger influence than shows up in the necessarily historic sales data.
When you get to still relatively common vehicles such as Series 2a/3, a look at recent sales is probably the best guide, but bear in mind that condition is all important in this group - a reasonably good 1962 S2a may be worth a lot more than a 1982 S3 with terminal rust. There is beginning to be a trend for greater demand for S2/2a than for S3, and this is likely to make prices higher for them than for an S3 in similar condition, although I doubt the effect is very large yet.
However, if we look at those Landrovers that are fairly uncommon, without being really rare, such as the Isuzu engined 110/120 or S3 five door wagons, then, while as with the previous group price is heavily influenced by condition, the price is also likely to fluctuate wildly, as each sale depends on having a willing buyer and a willing seller, preferably in the same part of the country, and at the same time - so if you need to buy now, you can expect to pay a lot more than if you can wait, and the converse if you are selling. But it is extremely difficult to set a definite value at any particular time. You can say "one just like it sold for $x last week" - but that seller and that buyer are no longer in the market, and the market is so thin that this week there may actually be NO buyer or NO seller this week.
When we move into the area of rare vehicles, for example Series 1 80", any fire engine or any forward control, for example, it is the same as the previous group only more so.
Then there is the really rare vehicle. This would include pre-production and prototype vehicles, any Tickford wagon, probably all 1948 models etc. Strangely the prices, while still very dependent on condition, become more stable - because they are now valuable enough that the overseas prices paid are an influence (it is possible this may begin to influence all Series prices if they become more popular collectors items in the USA - while the UK is a lot closer, and there are a lot more, they are also a lot rustier!). In this category probably the biggest influence though is originality - that 1948 80" might be a better performer with the 2.25 engine in it, but it just lost probably 50% or more of its value!
One thing you will notice has not been mentioned. This is how much money the seller has spent on it! Spending money on a vehicle will have very little influence on what it sells for, although it may make it easier to sell. Of course, in most cases, a good clean and detail will also help sell it, although rarely will it affect the price, except if it is really bad it will give the buyer something to beat the seller down with. Same applies to obvious defects - but don't expect that if you spend $1000 fixing the brakes (or gearbox or anything else) that you will get $1000 extra. You won't. And bear in mind that if the vehicle is registered it must be roadworthy.
John
The short answer is - it is worth what it sells for. Which does not help if you are either selling and want to know what price to put on it, or are buying and want to know whether the price is reasonable and if not what you should offer.
For popular Landrovers, such as Discos, where there is a substantial number on the market at any time or place, sources such as Red Book give a reasonable figure, although once a vehicle gets to be more than perhaps ten years old, condition, extras, mileage and service history become much more important than either age or mileage - and factors such as that "V8" is a dirty word these days may have a much bigger influence than shows up in the necessarily historic sales data.
When you get to still relatively common vehicles such as Series 2a/3, a look at recent sales is probably the best guide, but bear in mind that condition is all important in this group - a reasonably good 1962 S2a may be worth a lot more than a 1982 S3 with terminal rust. There is beginning to be a trend for greater demand for S2/2a than for S3, and this is likely to make prices higher for them than for an S3 in similar condition, although I doubt the effect is very large yet.
However, if we look at those Landrovers that are fairly uncommon, without being really rare, such as the Isuzu engined 110/120 or S3 five door wagons, then, while as with the previous group price is heavily influenced by condition, the price is also likely to fluctuate wildly, as each sale depends on having a willing buyer and a willing seller, preferably in the same part of the country, and at the same time - so if you need to buy now, you can expect to pay a lot more than if you can wait, and the converse if you are selling. But it is extremely difficult to set a definite value at any particular time. You can say "one just like it sold for $x last week" - but that seller and that buyer are no longer in the market, and the market is so thin that this week there may actually be NO buyer or NO seller this week.
When we move into the area of rare vehicles, for example Series 1 80", any fire engine or any forward control, for example, it is the same as the previous group only more so.
Then there is the really rare vehicle. This would include pre-production and prototype vehicles, any Tickford wagon, probably all 1948 models etc. Strangely the prices, while still very dependent on condition, become more stable - because they are now valuable enough that the overseas prices paid are an influence (it is possible this may begin to influence all Series prices if they become more popular collectors items in the USA - while the UK is a lot closer, and there are a lot more, they are also a lot rustier!). In this category probably the biggest influence though is originality - that 1948 80" might be a better performer with the 2.25 engine in it, but it just lost probably 50% or more of its value!
One thing you will notice has not been mentioned. This is how much money the seller has spent on it! Spending money on a vehicle will have very little influence on what it sells for, although it may make it easier to sell. Of course, in most cases, a good clean and detail will also help sell it, although rarely will it affect the price, except if it is really bad it will give the buyer something to beat the seller down with. Same applies to obvious defects - but don't expect that if you spend $1000 fixing the brakes (or gearbox or anything else) that you will get $1000 extra. You won't. And bear in mind that if the vehicle is registered it must be roadworthy.
John