What is it worth?

**JDNSW** · 14th June 2008, 07:19 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

**cartm58** · 14th June 2008, 08:32 AM

What u spend on it has no mention to what is worth, yeah so true spent fortune on ex partners in maintaining and keeping them during the relationships and paying them out once the relationship ended. New partners of my ex's got them for free as l never got a cent out of the deals.

**Sleepy** · 14th June 2008, 09:06 AM

Well said John.

It's more about "what is someone prepared to pay for it" rather than “what is it worth.”
I have always thought I paid a little too much for my SII and could have perhaps got one a bit cheaper. But not a lot come onto the market, I liked it, I was happy

so I bought it.
I don't have any idea what it’s worth now or what it will be worth when I'm done and I don't really care. (It’s a hobby………some people play golf!)

**Disco_owner** · 14th June 2008, 09:24 AM

Hi Paul;

Very Interesting point you brought up , some of my mates Just don't understand why I spend sooo much on my Disco , They think I've Lost my mind and or am going thru some sort of midlife crisis ,they don't get it But to me it doesn't really matter , It's a Hobby and I'll continue to spend until it's set up the way I want it , On The other hand it's like my other friend who spend $7-8K on a Digital Camera Body , I just don't understand why but it's his Hobby??

**PAT303** · 14th June 2008, 09:47 AM

I think that if you have a hobby you aways start out small and as you go into it more you update and get better gear.Cars are like anything,if you enjoy it thats fine but don't do it thinking you will make money.I don't smoke,use drugs,drink a carton a week but I do shoot and 4wd and that is my pastime.I spend money but that is why I earn it.I don't live to work,I work to live. Pat

**Sleepy** · 14th June 2008, 10:07 AM

Originally Posted by Disco_owner

.... it's like my other friend who spend $7-8K on a Digital Camera Body , I just don't understand why but it's his Hobby??

Yeah, the reason for the "golf" comment was overhearing two blokes at work who'd spent $3000 on golf clubs (then add green fees, etc.). I remember thinking I could get a nice old landy for that money

. (Always thought playing Golf is a good way to ruin a good walk!!

- Each to his own

)

**rovercare** · 14th June 2008, 10:16 AM

Originally Posted by PAT303

I don't smoke,use drugs,drink a carton a week

I do, well not the drugs, that was a looong time ago

mike 90 RR · 14th June 2008, 11:08 AM

worth of a car??
We have all different approaches to this subject
Some will blow a fortune on boats / beer / dinner and then suddenly complain about the price of car

Most of us do this because it is our Hobby

It is a shame to "openly" put down the value of a restored car, as it holds back the true value of what it's worth on "it" and it only deters proper works being completed

Take the T Bucket rods for instance ..
Years ago, they would spend up to 20K and could only get 6k for them
NOW they command between 25 to 50k

The Ford GT shaker has seen a price of 750K
A Torana (Brocky bathurst style pack) also went for huge dollars (500k???)
.. but i feel this is driven by investors and is collected for "Investment value" rather than collection ... (Bit like the Picaso painting)

The good thing is that while prices are low, the bad ones are being junked ... which inturn makes your present car 1 step closer to being .. "Rare" and therefore increases the value of your car

My RRC started off @ $2800 .. (Good price for a salvageable bomb @ the time) (Perth prices 2yr's ago)
I have bought parts @ $6000
I have painted her myself ... Value ... who knows?
I do all the mechanics ... Value ... who knows?
Maximum value in insurance hand book is 8k
Maximum insurance value via Shannons is 12K
My replacement value of this car if totaled up, is about 15K with another 5k to go

I will never get my money back .. But then .. I am not selling it either

All the above is not to be taken as "statements of fact" .. but just consider as food for thought

My 2c worth

Mike

**JDNSW** · 14th June 2008, 12:20 PM

I think you have raised another good point. Just because you will not get your money back from money you spend on your car is no reason not to spend it.

Many people would look askance at someone spending, say, $5000 on a car worth only $3000, and which will be worth little more after spending the money. But that is not the way to look at it. If you spent the $5000 on replacing the car, it might be slightly better than the $3000 one, and you still might find you need to spend a lot of money on it tomorrow. At least the one you already have, you know what is wrong with it.

And consider this example. My 110 is probably worth less than $10,000 at present, and at some time in the next few years I will probably have to spend $10,000 or pretty close on that to overhaul the engine, possibly more by the time you do the other jobs that are likely to come up when it is apart. And after this it will be worth perhaps $15,000 at best. But it will be a lot better than anything I could get for that money. If you compare it to buying a new Defender, that will cost perhaps an extra $45,000 on top of the trade-in - I could just about bring the 110 into new condition for that amount of money (if I had it), and in many respects would have a better vehicle, as well as having one that I am very familiar with.

John

mike 90 RR · 14th June 2008, 01:11 PM

Try this perspective ... Have you really lost money??

Buy a brand new 4WD = 65k??? (Disco / Tojo / Nissan)
Sell it in 5yr's = 30k
minus interest rate over 5yr's
Total left in pocket = 10k??
(lost 55k)

My car = 20k total
Sell it in 5yr's = 4k
no interest rate (cause i spent "portions of" over time)
Total left in pocket = 4k??
(lost 16k)

I AM IN FRONT by at least 39k

... So i see this as good news
I now have 39k to go for all the upgrades such as
Supercharger / Detroit diffs / Suspension lift kits / Wolf 3D ... if i wanted to

Mike

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