More MGBGTV8s coming back from long term lay up with recommissionings, major refurbishments and restorations on the rise?

Following research by the V8 Registrar the number of MGBGTV8s Taxed and SORNd has risen steadily since 2012 to the current level of around 949 in 2018 Q3 - approximately a 11% increase since 2012 with 92 more MGBGTV8s taxed or SORNd. There are indications that considerable interest in refurbishing and more often undertaking major restorations of MGBGTV8s has been encouraged by the substantial rise in MGBGTV8 prices since 2010. The two charts alongside and accompanying notes highlight what appears to be a link.

Changing ownership of classic cars
The lead article in the Business section of The Times on 19th January 2019 looked at how the ownership of collectible cars appears to be passing from the Baby Boomers (1946-64) to Generation X (1965-79). Our Pricewatch NEWS item that day highlighted anecdotal evidence suggesting the present ownership pattern of the two leading MGV8 models is still mainly with the Baby Boomers, but over the next 5 years more younger MG enthusiasts are likely to buy MGV8s, particularly as long term owners decide on reaching their late 70s and more that it may be time to sell. See the NEWS item. More

Larger copies of both charts
You can see the detail in both charts alongside by viewing larger copies available at: More

MGV8 Price Guide update

Last update to the end of October 2018. More

Posted: 190121
Using the statistics available on the "How Many Left?" online database, the number of MGBGTV8s registered in the UK fell to a low point of 857 in the fourth quarter of 2012. At that time the prices of MGBGTV8s were seen to have been rising by around 28% from the flat levels seen in 2010 and in May 2013 our Pricewatch Price Guide for Condition 1 chrome bumper MGBGTV8s indicated prices had risen by 42% from the 2010 levels. Looking at the statistics for the number of MGBGTV8s Taxed and SORNd, from the low point in 2012 the aggregate number of has risen steadily to the current level of around 949 in 2018 Q3 - approximately an 11% increase since 2012 with 92 more MGBGTV8s taxed or SORNd . We are still waiting for the 2018 Q4 statistics to be released on the "How many left?" website (that will probably be in April 2019), so 949 is an estimate based on the statistics available for 2018 Q1, Q2 and Q3.

Looking at the two charts above there appears to be a link - it's likely the substantial improvement in MGBGTV8 prices from 2010 has encouraged a number of MGBGTV8s to be registered again, presumably after being laid up in long term storage and not road taxed, not SORNd and not MOTd for many years, with some of them in long term lay up from the late 1970s or 1980s. The V8 Registrar has identified a number of MGBGTV8s that were registered with the V8 Database in those years where no subsequent registration of the car has been seen. On then carrying out a Vehicle Enquiry Search for a sample of those cars using the GOV.UK website, in a high proportion of those cases the report shows the car was last taxed in the late 1970s, 1980s or 1990s. So clearly the car had been laid up for a long time. Sadly some may have gone to the scrapyard of course. From these charts the indications are that considerable interest in refurbishing and more often undertaking major restorations of MGBGTV8s has been encouraged by the substantial rise in MGBGTV8 prices since 2010.

How many MGBGTV8s and MG RV8s are left in the UK?
See our note with the charts available on the "How Many Left?" website.

How many MGBGTV8s may be in long term lay ups?
Looking at the records of MGBGTV8s registered with the V8 Database and comparing the number there with the MGBGTV8s shown as Taxed and SORNd on the "How Many Left?" (HML) website, it appears there could be around 250 in long term storage or lay up. Our V8 Database shows 1,196 MGBGTV8s are registered by owners in the UK and the HML website data shows the Taxed and SORNd total is 948 indicating some 248 in a lay up. How many of those cars could come out for sale or a restoration during 2019?