sells at auction for £33,600
In our market report
released on 20th May one of our Pricewatch volunteers mentioned he
saw a "nut and bolt restoration" of a Factory chrome bumper
MGBGTV8 was sold for £33,600 at the Historics auction at Brooklands
on Saturday 18th May 2019.
MGV8s for Sale
See our two MGV8s for Sale webpages for our online adverts of members'
MGBGTV8s & Conversions
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MGV8 Price Guide update
Last update to the end of April 2019 was released earlier this month.
Updated Price Guide
Tasteful upgrades are almost an established feature of the market
In our previous market reports we felt there were signs the attraction
of tastefully upgraded MGBGTV8s was growing in the marketplace. That
trend seems to have continued over the last six months and has become
an established feature of the market, but there are nonetheless signs
two parallel markets for Condition 1 cars continue one
for near original Factory spec cars and another for upgraded cars,
often tastefully upgraded with leather seats and trim and a bodywork
colour change during restoration. Buyers in the upgraded sector seem
less interested in and maybe less aware of originality, but simply
see the car as they feel it should be.
MGBGTV8 in Damask sells for £33,600!
One of our Pricewatch volunteers attended the H&H auction
at Brooklands on Saturday 18th May 2019 and says the "very
high value lots were within the restricted auction area - for
example the Aston Martin DB6 and its peers. Surprisingly, the
MGBGTV8 was also within this restricted area, given its somewhat
low estimated price (£13,000 to £18,000) and I can
vouch for a continued high level of interest shown in this MG
over the seven hours I was at the auction. Bidding was strong
resulting in the exceptional price including buyers premium
and VAT thereon of £33,600". 190520
doubles its estimate
Fully restored car smashes the previous marque record
The latest issue of Classic Car Weekly out today has a feature
on the sale of a "recent nut and bolt restoration
of a genuine Factory built MGBGTV8" over a week ago.
"Utter authenticity during restoration"
The auctioneer, Historics, is reported as saying "this
was a classic case of quality is king. It's a a truly exceptional
car, the skills lavished to maintain utter authenticity during
restoration has paid dividends through a sale price that has
shattered its previous sale estimate". The CCW article
adds "the previous highest price realised by an MGBGTV8
was £17,600 achieved by a car at a CCA auction in 2016".
a pity that given the high level of restoration undertaken on
this car to "maintain authenticity", a number of aspects
were not original - for example the random placing of the nearside
wing badges, non original offside wing badges, leather seats
and trim and steering wheel".
Bidding with deep pockets drives prices up
CCW's auction guru Richard Hudson-Evans, said "it's extraordinary,
but it's also what happens at the top of the market when two
or more people decide that they want a car - the money is irrelevant
- they are prepared to pay whatever it takes for it".