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Old 9th May 2010, 14:55   #196
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This Fiat 1500 was advertised by the very same owner for 10 lacs 2 months ago, I called the owner in Mysore and this is exactly the price quoted by him, and verified by others here who also called him (the joke is the link to that ad is on previous pages on this thread). Now he is quoting Rs. 15 lacs

I bet he was getting so many offers that there is now a bidding war/outbreak.

Team-BHP Classifieds - 1966 Fiat 1500 - Powered by PhotoPost Classifieds

Last edited by Rehaan : 12th May 2010 at 16:34. Reason: Editing out off-topic comments.
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Old 9th May 2010, 23:11   #197
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I think the prices quoted by people are way too high but in the same context i would like to say, most of the people who are making fun of such owners should refrain from doing such because the owner can ask for whatever he wants for his car and if it doesn't suit a buyer then he doesn't have to buy it. Similarly most people don't have high budget to buy old cars,they think you would get at price which you got them 20 years or 30 years back and with the prices the way they are many people can't buy old cars. I would request if you guys can refrain from cracking jokes on the owners of certain cars who ask for Sky high prices.

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Old 10th May 2010, 12:23   #198
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There is NOBODY in India that can justly claim to be an authority on vintage and classic car valuations.

We can all come to a conclusion on a reasonable value on a case by case basis but that too might not be correct.
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Old 10th May 2010, 19:48   #199
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Anyone had a look at the Morris advertised in classified.

Now thats what we call pricing.

Team-BHP Classifieds - Morris Minor, Classic Car - Powered by PhotoPost Classifieds

Anyone who can debate on this valuation.

That car is certainly worth more than that price.
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Old 10th May 2010, 22:41   #200
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Quote:
Originally Posted by PAVAN KADAM View Post
Anyone had a look at the Morris advertised in classified.

Now thats what we call pricing.

Team-BHP Classifieds - Morris Minor, Classic Car - Powered by PhotoPost Classifieds

Anyone who can debate on this valuation.

That car is certainly worth more than that price.
I would certainly disagree that the car quoted here is under priced. The minor was a mass produced car and would not in any ways be termed as a must have car in any large collection. Earlier people who were bitten by the vintage/classic bug used to start with a Morris Minor. Today people start with fiats. We had bought a single owner Morris Minor in 91 for 17K and remember having sold it in 94 for 35K. We upgraded to a Morris 1000 which was certainly more superior to the Minor.

This is a fair valuation in the sellers mind considering the current condition and efforts which have gone into to bring this car to this state. We know the restoration capabilities of Mr. Ananth and I have now doubt that this will be a trouble free. Iwould not like to comment on the valuation but I would like to wish Mr. Ananth the best of luck for the car needs a buyer who is committed to maintain this car in this wonderful state.

Cheers

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Old 10th May 2010, 22:54   #201
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Quote:
Originally Posted by PAVAN KADAM View Post
That car is certainly worth more than that price.
Ok agreed. Why? The answers would help this thread.
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Old 11th May 2010, 12:24   #202
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Originally Posted by Spitfire View Post
Ok agreed. Why? The answers would help this thread.
Simple, I have seen some horribly restored, un-original Morris for sale here on the forum many times before. At what a ridiculous prices.

Taking those into consideration, this car looks clean. well restored and lot original. Hence i felt, the price is apt.

I would personally like to now stay away from this thread, since its becoming too political.
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Old 11th May 2010, 12:45   #203
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Quote:
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Simple, I have seen some horribly restored, un-original Morris for sale here on the forum many times before. At what a ridiculous prices.
You are getting in the grey areas here. A ridiculous price as per whom? You or the seller?
  • If the seller is asking for it he has all the right to. His car, his money, walk away, thats the right price, blah blah.
  • What we want to see is why ridiculous?
The first point about the seller is intangible, which quite surprisingly a lot agree to. And is even adjudged as the way to sell vintage cars in India.

The second is what we "reformers" are trying to get an handle on. As that sounds more logical to us/me. We cant call it ridiculous even if it seems so to us. We should move on and get a car priced within our budget. The thought as to why ridiculous and not rational is lost. And its not even a monopoly.

Quote:
Taking those into consideration, this car looks clean. well restored and lot original. Hence i felt, the price is apt.
Exactly.

Quote:
I would personally like to now stay away from this thread, since its becoming too political.
Bad move. But then you are free to chose.

Last edited by Spitfire : 11th May 2010 at 12:49.
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Old 11th May 2010, 15:50   #204
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Quote:
Originally Posted by Spitfire View Post
You are getting in the grey areas here. A ridiculous price as per whom? You or the seller?
  • If the seller is asking for it he has all the right to. His car, his money, walk away, thats the right price, blah blah.
  • What we want to see is why ridiculous?
The first point about the seller is intangible, which quite surprisingly a lot agree to. And is even adjudged as the way to sell vintage cars in India.

The second is what we "reformers" are trying to get an handle on. As that sounds more logical to us/me. We cant call it ridiculous even if it seems so to us. We should move on and get a car priced within our budget. The thought as to why ridiculous and not rational is lost. And its not even a monopoly.

.
this is the first time I am noticing a MM sedan being quoted over 3lakhs.
although the car appears to be in concourse condition the price quoted is TOO OVERPRICED''.
a 1968 morris minor sedan single owner driven with full originality and similar condition(maybe better) in Kerala still remains in the owners hand even though he quoted half of what this seller is asking,
it seems that car is a steal at that price.

another funny thing is this same respected gentleman seller from Chennai wants to get cars for small bucks when he dons the hat of a buyer.

Last edited by ajay99 : 11th May 2010 at 15:52. Reason: =
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Old 11th May 2010, 15:59   #205
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Quote:
Originally Posted by PAVAN KADAM View Post
Anyone had a look at the Morris advertised in classified.

Now thats what we call pricing.

Team-BHP Classifieds - Morris Minor, Classic Car - Powered by PhotoPost Classifieds

Anyone who can debate on this valuation.

That car is certainly worth more than that price.
Quote:
Originally Posted by canonball View Post
"That car is certainly worth more than that price.
"



Quote:
Originally Posted by Spitfire View Post
You are getting in the grey areas here. A ridiculous price as per whom? You or the seller?
  • If the seller is asking for it he has all the right to. His car, his money, walk away, thats the right price, blah blah.
  • What we want to see is why ridiculous?
The first point about the seller is intangible, which quite surprisingly a lot agree to. And is even adjudged as the way to sell vintage cars in India.

The second is what we "reformers" are trying to get an handle on. As that sounds more logical to us/me. We cant call it ridiculous even if it seems so to us. We should move on and get a car priced within our budget. The thought as to why ridiculous and not rational is lost. And its not even a monopoly.

Exactly.

and . your last post states it is priced aptly.

If you read mine & spitfires response's we are agreeing with apt & KPS but you are saying 2 things. Do re-read it as we have made good offline progress at being friends . Not to mention common interest in keeping things real.
Bad move. But then you are free to chose.
Why leave the thread don't take the post above seriously dud we are all friends besides you have stayed away long enough and I found your latest post to be a logic bound start/contribution[/quote]




I did not put in the right words in the end

I would vouch, that that price is right for a car of that originality and detailing.

This thread will go on the way it is, deviating from the fact, that the whole idea by Nikhil to start the thread was to create awareness to a noob when it comes to buying a classic or a Vintage car.

Lets stick to the basic topic of the thread.

If i have wrongly put in words, i am sorry.

Please Re-read. the car as per me is aptly priced.

Last edited by PAVAN KADAM : 11th May 2010 at 16:00.
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Old 11th May 2010, 19:15   #206
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Funny thing is that this car, the Morris, has drawn such diverse reactions for our members and even some of the "reformers" are also not on the same page with regards to its value.

Comments on its Price :

Canonball - "felt price is apt"
Ajay - "TOO OVERPRICED"
PAVAN - "price is right"
Spitfire - "also feels price is apt"
KPS - feels it is "underpriced"

So what is the final verdict on the pricing.

So many different opinions are diaplayed just here. This is exactly the reason I keep saying there is no simple formula for vintage car and bike pricing in India.

It all comes down to ones personal opinions as expressed here.

Usually it boils down to who wants the car or bike and how bad they want it that determins the final price. Passion dictates the price finally.

It remains to be seen how much dear Mr. Ananth will get at the end of the day. If he is willing to disclose it then we may at the least have a glimpse of how things work in real life insted of just being putting forward abstract "theories"

Last edited by wasif : 11th May 2010 at 19:18.
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Old 12th May 2010, 12:45   #207
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Quote:
Originally Posted by wasif View Post
"
KPS - feels it is "underpriced"
Quote:
Originally Posted by KPS View Post
I would certainly disagree that the car quoted here is under priced.
Just to clarify, I do not think that the car is underpriced.

However let me give my two cents.

As much as I would agree that it is the sellers absolute right to quote the a price and it is for the buyer to decide whether he wants to pay for it or not, there is a serious cascading effect. The prices of unrestored/restorable cars are shooting up like crazy. If a Morris Minor is quoting @ 4.75L then a seller of an unrestored minor will start quoting for 2+ which not a desirable trend. I have seen unbelievable prices been quote for junk pieces on the premise that the completed car is quoted at x+ price.

We had a Jaguar MK X, 4.2 Litre which we sold 2-3 years back. The car was complete but not in running condition. Today people tell my dad that he should have not sold the car, etc and it would have fetched price of 50L. If you look at international auction results your will see prices between $13500 to $39500, no where near the 50L people are speaking about in India. I call this paper price (like paper tigers). You go to bed and have a good night sleep based on the paper price and imagining what you will do with all this money, an ego boost! Hence sellers quoting high prices will run the risk of having a paper pricing as the cars will never be actually sold at that price. This is what I tell my Dad.

The other disturbing trend is that the same car is quoted at increased prices after a few months without any perceived improvements /restorations in the car. If the car was not sold earlier at the lower price then why will it sell at a higher price? The seller is being influenced to quote higher prices and this poor fellow will end up having a paper price and prices of restorable cars shooting up!

I enjoyed the views given by Vintageman in Post # 197 and I think it was most valid for all of us. Thanks Vintageman.

Cheers

KPS
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Old 12th May 2010, 13:26   #208
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KPS & Vintageman this is exactly the stuff we have been trying to establish..good to get acquainted with you guys..do keep contributing and observing as we move along. cheers
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Old 12th May 2010, 13:39   #209
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Quote:
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there is a serious cascading effect.
Brilliant post KPS. And an apt example there. The tribes growing.
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Old 12th May 2010, 15:49   #210
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The "cascade effect" is in theory again as at what price the cars actually sell for is nowhere near what the sellers have been asking for to start with.

It all comes down to how badly a seller and buyer want said car !

Quote KPS

"As much as I would agree that it is the sellers absolute right to quote the a price and it is for the buyer to decide whether he wants to pay for it or not"

This is what I have been saying all along and I nowwhen someone else says it becomes "brilliant" !!
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