I strongly agree with doing whatever gives you most enjoyment. The main opposition I have to that with my usage is you can’t get the bloomin spares when you need them and for an S1 some spares are now near impossible.
You can get every part for a 1960s MGB, and I used mine extensively. A cracked wheel smashed clam or rear hatch on an S1 is a major problem.
In the long run originality will be king in my mind. A 1960s Fender stratocaster will cost you £25k, one with a repaint will be £12k, one with mods will be £6k. A new custom shop strat is 5k and is as good as any. Value comes from rareness, not being better, rare is usually old and original.
Low mileage original cars will be where the money is in years to come for sure.
The guys who converted to Honda and Audi power will in time be desperately trying to locate the original engines.
I cant think of a single classic car that is worth more with a non original engine fitted, who would want a triumph stag with ford v6 fitted or an etype with a chevy v8.
Its a similar story with modified cars, collectors don’t want 3 dr sierra cosworths with 450 bhp and loads of bling under the bonnet, they want a totally standard original car, s1 exiges when their time comes will be exactly the same, we aren’t there yet but will be in another 5 years time.
Honda/Audi conversions are great and really are giant killers on the track, originals are slow in comparison but they have character that no converted car can ever replicate
I had a call from Sytner BMW yesterday , they’ve just paid 75k for a LOW MILES 1M …
That’s nearly double what they sold for new just 5 years ago.
Mileage and boggo standard is what stands the time test.
Benja KEEP your 1M !
When i part x’d my S2 Exige ( 54K miles) the mileage didnt appear to be a factor in the deal . I was more than impressed with the trade in value , i got £2K less than i paid for it 5 years previously and had put 35k miles on the car . That’s what i call car satisfaction !
I’m plenty old enough to remember the bubble that burst in 1990 when over-hyped classic prices plummeted overnight (e.g. Ferrari 512BB advertised at £225K when a new Testarossa was about £65K) and speculators were left with cars they couldn’t financially shift.
I guess that as long as capital gains is exempt from cars this trend will continue in cycles for years to come. The trick is when to buy and when to sell. All this I think applies to cars 15 - 25 years old. Once they become 35 years + old the rules change.
Having seen a recent television programme on ‘Extreme Embalming’ where some guy was buried in a clear casket, riding his Harley, I shall be keeping my S1 permanently…VERY permanently!
It is a great car and I love it but I would not part with £75k for one. Like has been said its just prospectors picking up the low-mileage cars that never get driven hoping to sit on them and make a capital-gains free buck. I bought mine because I wanted one and it came up for sale privately and I made the mistake of going to see it. I use it and enjoy it and whilst the mileage is low for a 5.5year old car (27k miles) its probably never gonna be in the collector stratospheric price range. In all likelihood it will stay pretty flat with year on year modest increases.
If I had the space I’d probably keep it, but I don’t so if something better suited to my requirements turns up I may well move it on.
I think low mileage, in isolation, can have a negative impact on value. Conversely, low mileage combined with low ownership (preferably one), “matching numbers” in terms of original chassis / engine / gearbox serial numbers and original and standard condition is worth paying a premium for. However, all these factors must have documented provenance in the form of continuous MOT certificates, service and maintenance invoices from reputable marque specific suppliers / garages. It is surprising just how valuable boxes of MOT’s and receipts can become! I assume everyone keeps them.
“Last of the lines” also seem to accrue an enhanced value over time. I used to run a TVR Griffith 500 which was 20 units older than the last 100 SE spec cars finished off with various then available parts such a wing mirrors, lights and wheels simply to get them out of the factory but which are now worth 30% more despite being mechanically identical to the earlier cars. Fingers crossed the same will eventually apply to RGB’s
Unlike Triggers Broom, cars are only original once which is important for some people irrespective of condition … see below at £132k !!
That Dino looks like it needs a tad work on it - to think I turned down a sound example of one of these for £3.5k because the seller wouldn’t reduce the price by £50 - his loss
I recently paid a fair old whack for a 1 owner Laser Blue S1 never tracked 12700 miles factory paint no mods with a proper service every year.
It was “off grid” and basically found me. I was actually going to look at a mint S1 boggo Elise! (but wanted an S1 Exige) and spied it sitting in the corner.
I wouldn’t mind if there were a few on the market to kick the tyres of and form a grounded take on what’s available.
The fact is there are none for sale. Not one RHD in the UK available. That sort of tells us where we’re at so to speak.
The S1 is a one off and a true balls out road racer. Very raw and a bit awkward with the VHPD. I happen to like the K motor and its foibles. The Exige was to some a track hack. Butchered and modded.
I liken the S1 to the 964RS. They were flying in from the fatherland at £18 grand a go in the early noughties. A fun cheap track smoker.