Re: What are these guys thinking???
Posted: Thu Jan 24, 2013 8:00 am
I have been to Hamptons a few times and their prices are a bit nuts. Ok not a bit, they are one clown short of a full circus.
Every person has a different view and its not neccesaritly wrong but here is mine.
I believe that cars are worth what you are willing to pay for it. So if it was your first car and you found it again and pay double market value to get memories back go for it.
I like to buy cars that makes good financial sense. I am willing to take a old car spend money and restore it.
Paying above what the general market thinks does not bother me IF I WANT THE CAR AND IT MAKES SENSE. There are a few rules though. I bought Figs Samba for what most would think is to much money but its a calculated plan. Before I bought the Samba I spend two days calculating the price of a concourse restoration and then seeing what a bus like that in perfect nick is worth. It made sense so I did it.If I ever sell the car (really hope I never have to) I can get the money I paid because there is someone out there that will think it worth that much as well. Worst case I will export it to get money back (hope that never happens either). So according to me a classic car is something to enjoy o have fun with and at night you sit in your garage just looking at the beauty. BUT and very big BUT, If you buy a classic and fall on harder times you should be able to turn that classic for close to the same amount of cash or preveriably more than what you paid for it.
The problem with Hamptons is
1. they ask top dollar for cars that are not top cars. I saw a black 911 there a while ago thats worth around 250k it had cracks in the paint and needded a respray but they want 395k.
2. They are making commision on the car thus on this 60 k beetle they probably make at least 15k. So even if you tak it back to them a month later you will loose 15k
3. They try to get high street customers that have an emotional connection or something to a car that really no worth as much.
4. The upper class classic dealer does have a problem in South Africa. There are not that many old cars around. Many was shipped out and the other gets traded in the junkmail so they have to make huge money on a small amount of cars to keep the doors open. The rent in thier location will also make it more difficult
5. I dont think they know what the hell a good real classic is. They hould grade cars and decide if they want to sell it.
6. They google european prices. I was in there a while ago looking at a 1969 Porsche 911S. They wanted 900k. They go onto internet see what they charge in Europe and then demand that price. The car was not onto Eurpean standard and had no certificates like the european 900k have. The car had no optional extras and was a plain old car. My opinion its worth 700k. The sales lady even told me that this is what its woth in Europe.
I dont think they are crookes I think they are trying to make the best of the South African market but this is not easy. They also try to keep up with Europe but we live quite a distance from it.
This is what happen if you have lots of cars to choose from. I have been to these guys...its amazing
http://www.autosalon-singen.de/en/
Every person has a different view and its not neccesaritly wrong but here is mine.
I believe that cars are worth what you are willing to pay for it. So if it was your first car and you found it again and pay double market value to get memories back go for it.
I like to buy cars that makes good financial sense. I am willing to take a old car spend money and restore it.
Paying above what the general market thinks does not bother me IF I WANT THE CAR AND IT MAKES SENSE. There are a few rules though. I bought Figs Samba for what most would think is to much money but its a calculated plan. Before I bought the Samba I spend two days calculating the price of a concourse restoration and then seeing what a bus like that in perfect nick is worth. It made sense so I did it.If I ever sell the car (really hope I never have to) I can get the money I paid because there is someone out there that will think it worth that much as well. Worst case I will export it to get money back (hope that never happens either). So according to me a classic car is something to enjoy o have fun with and at night you sit in your garage just looking at the beauty. BUT and very big BUT, If you buy a classic and fall on harder times you should be able to turn that classic for close to the same amount of cash or preveriably more than what you paid for it.
The problem with Hamptons is
1. they ask top dollar for cars that are not top cars. I saw a black 911 there a while ago thats worth around 250k it had cracks in the paint and needded a respray but they want 395k.
2. They are making commision on the car thus on this 60 k beetle they probably make at least 15k. So even if you tak it back to them a month later you will loose 15k
3. They try to get high street customers that have an emotional connection or something to a car that really no worth as much.
4. The upper class classic dealer does have a problem in South Africa. There are not that many old cars around. Many was shipped out and the other gets traded in the junkmail so they have to make huge money on a small amount of cars to keep the doors open. The rent in thier location will also make it more difficult
5. I dont think they know what the hell a good real classic is. They hould grade cars and decide if they want to sell it.
6. They google european prices. I was in there a while ago looking at a 1969 Porsche 911S. They wanted 900k. They go onto internet see what they charge in Europe and then demand that price. The car was not onto Eurpean standard and had no certificates like the european 900k have. The car had no optional extras and was a plain old car. My opinion its worth 700k. The sales lady even told me that this is what its woth in Europe.
I dont think they are crookes I think they are trying to make the best of the South African market but this is not easy. They also try to keep up with Europe but we live quite a distance from it.
This is what happen if you have lots of cars to choose from. I have been to these guys...its amazing
http://www.autosalon-singen.de/en/