MGBGTV8 and MG RV8 price guide
Market overview
During 2015/16 there has been a growing interest in owning and enjoying classic cars, combined with genuine investment potential for certain examples, so prices have grown in most segments of the classic car market. Whilst popular "classic car cherries" like Astons and Jaguars have tended to attract high-rolling investment buyers in recent years, the popular feeling within the classic car press and those with an eye on the market, is good MGBGTV8s are now finally being recognised as a rare, powerful, practical and desirable classic representing exceptional value for money that MGV8 enthusiasts have always known them to be! Values have correspondingly been seen moving up. A significant trend is that many enthusiasts seeking a classic car like an MGBGTV8 are choosing a good quality car in terms of the condition, not least the bodywork, because there is a general awareness that cars built in the 1970s had poor corrosion protection and cosmetic and structural rust can develop. Major bodywork refurbishment, or a more serious rebuild, is very time consuming and costly. A further trend is fewer people feel they want to commit the time, or indeed have the skills and tools required, for carrying out refurbishment work on their own, so they seek a good quality car where the need or likelihood of repair and maintenance work is small. The consequence of these two "quality demand" factors is a growing price differential between Condition 1 and 2 cars. Similar trends are seen with RV8s but with a slightly lower rate of price growth so far, although surely the exceptional value of an RV8 will be recognised more widely over the next year. See our MGV8 prices and market review at May 2016. More

See our market review and price guide update, including charts for each model which compare our guide prices for 2010, 2014 and 2015: Report May 2016.
There is also a note on the economic factors influencing the price of MGV8s by Victor Smith, not least the VED exemption benefit which has now covered very nearly all the original Factory MGBGTV8s. See our price guide as charts for each model: MGBGTV8 and RV8.
MGBGTV8 prices
Condition is the major factor determining V8 prices, particularly of the bodywork, because major bodywork refurbishment, or a more serious rebuild, is usually very costly. So if a buyer is able to find an V8 with good bodywork, generally they are to some extent flexible over body colour. PriceWatch V8

The V8 body colours chosen by the British Leyland group in the early to mid-1970s are, by today's tastes, seen as brash and they attract some strong feelings for and against. The popular colours with enthusiasts with relatively conservative tastes are seen as Damask, Teal Blue and Glacier White. Another group of bright colours - typically Bronze Yellow, Bracken, Flamenco Red, Tahiti Blue, Aconite and Black Tulip - are seen as giving a V8 a period appearance. A further group of less bold colours - typically Harvest Gold and Tundra - is seen as near neutral, but there is a group of colours which many regard as the least popular choice - for example Citron Yellow (commonly known as "puke green"), Chartreuse and Mirage (which some feel looks like gloss undercoat). But these comments do not attract universal agreement! Many members are very fond indeed of Citron, Tundra, Chartreuse and Mirage!

Chrome bumpered cars attract a slightly higher price as they tend to be the preferred choice of most buyers.

A growing preference for Condition 1 V8s has resulted in a significant price differential with Condition 2 cars. Consequently sellers of Condition 2 cars will be tempted to describe their car in terms which might suggest Condition 1 (they may genuinely believe their car is in the Condition 1 category), so buyers will need to inspect a car very thoroughly and if required get a specialist inspection because serious corrosion in areas like the cills may not be obvious to an untrained eye. The costs of replacing cills and the consequential restoration work could easily lift the resulting overall cost of poor Condition 2 car above the value of a Condition 1 specimen. This is the driver for the price differential. In addition the cost of major restoration or a rebuild work is very rarely recouped in the resulting value of the car.

With Condition 3 cars the high cost of major restorations or rebuilds and the economic attraction of breaking V8s for spares, mean many Condition 3 cars are at increasing risk.
MG RV8 prices
Prices depend very much on condition, body colour, specification and mileage.

Condition is a clear factor in RV8 prices but the fundamental advantage the RV8 has is the bodyshell and panels were manufactured with a corrosion resisting phosphoretic coating, so the incidence of rust both cosmetic and structural is reduced in a major way.

Colour - there is a premium for colours (Other Colours) other than Woodcote Green, particularly for Nightfire Red and Oxford Blue. This is because some 64% of RV8 production was produced in Woodcote Green, very nearly all of which went to Japan with 11 RV8s in Woodcote Green the UK or the European export market. So only 402 RV8s were produced in an "Other Colour", some 21% of the production run.

Specification - the other major factor is whether the car is a UK or Japan specification car. UK spec cars attract a premium, which is slightly puzzling as the Japan spec cars include air conditioning fitted as standard. But a possible explanation is that only 307 cars were supplied to the UK market with the balance, almost 80% of RV8 production, exported to Japan. Over recent years the flow of RV8s leaving Japan as reimports to the UK and as exports to Australia has had a major effect on prices in the UK and Australia. For details of the numbers of cars in the various colours and specifications (UK/Japan), see our production statistics note. More

Mileage - curiously cars exported from Japan tend to have relatively low mileages. Those reimported to the UK and Mainland Europe markets have tended to condition buyers to expect RV8s offered for sale will have low mileages. The checks we understand have been seem to show these low mileages appear reasonable and we have seen no proof of any general mischief in engineering false mileage readings.

Exceptional cars have achieved high prices. An RV8 in Le Mans Green with a low mileage sold at around £30,000 through the V8 website, well over our Condition 1 price guide figure. Other exceptional RV8s have been offered in recent months at prices well over £25,000. See our PriceWatch reports. PriceWatch RV8

Issued: 160519
Condition 1
Generally excellent
No obvious areas where expenditure is required. The car is road legal, original and unrestored, or recently restored to an authentic original specification with documentary evidence. Service history commands higher prices. "Top-end" Condition 1 cars are close to "near concours" condition.

Condition 2
Sound but some areas need cosmetic attention or refurbishment
Usable, presentable and road legal car which may have had an earlier restoration. Some minor mechanical work needed. Any rust present should not compromise the structure (for example serious corrosion in the cills), although there may be some areas of corrosion that will require attention, possibly with replacement panels.
Condition 3
Running but needing restoration
May or may not have a current MOT but will be in need of fairly major restoration work or a rebuild - body panels, cills, engine overhaul, interior refurbishment etc. Cars in this category are unlikely to be completely original, but they will not have any major items missing. They are not basket cases except cars at the bottom of this category.