MGV8s sold at the Mathewsons' auction

Our Pricewatch volunteers have spotted the results of the Mathewsons' auction in Yorkshire on Saturday 1st June 2019.


Mathewsons' auction was very well attended
Local member, Douglas Pickering, reports the auction was very well attended and the village was almost grid-locked. It seems Mathewsons featuring on a television series has raised their profile and the level of interest in their auctions for classic car enthusiasts.
See Mathewsons' website

MGV8 Price Guide update
Last update to the end of April 2019 released early in May. More

Updated: 190605

Mathewsons auction listing
Saturday 1st June 2019
1974 MG MGBGTV8 - Teal Blue 1752 - Lot 162
Estimate: £18,500 to £22,500
Finished in Teal Blue with lovely tan leather, this Factory MGV8 also benefits from a Webasto sunroof, rear seat conversion (more luggage space), original rear seat accompanies the car as does the original engine and gearbox (Matching numbers). Now fitted with an uprated V8 engine and a 5 speed gearbox, stainless steel exhaust and has a lot of paperwork history.
Mathewsons auction listing
Saturday 1st June 2019
1995 MG RV8 - Old English White - Lot 13
Estimate: £20,000 to £22,500
RV8 reimported in 2008, total mileage is 14,650 with papers substantiating the figure, comprehensive maintenance schedule listing dates and works completed, basic workshop manual and an original RV8 sales brochure and a repair information manual on a CD.
Auction result
Sold to the winning bidder for £22,288 - this is the figure shown online but on checking it seems that figure only includes the buyer's commission and not the VAT thereon. So the total amount payable by a UK buyer would be £22,595 which includes both the commission and the VAT thereon. So on that basis the hammer price would be £20,750 and the seller would receive that amount less the seller's commission plus VAT thereron, only £18,905.
Mathewsons' buyer & seller fees

Auction listing estimate range
£18,500
£22,500
Mid point
£20,500
Hammer price
£20,750
+ 1.22%
     
Our Condition 1 guide price
£21,009
Our Condition 1 plus & minus
£24,500
£18,950
Paid by buyer
£22,595
+ 7.55%
Received by seller
£18,905
- 10.01%
     
Total fees/VAT on hammer price
£3,690
17.78%
See our MGV8 price guide & charts


Comment
This MGBGTV8 has been advertised on the V8 Website since 15th February 2019 for £22,000 and it's puzzling why it had not sold there bearing in mind the offer included the addition of the original engine and gearbox, two valuable items surely worth together at least between £1,000 to £1,500. The seller did not want to split the sale of the original engine and gearbox from the sale of the car, but if you deduct the value of the engine and gearbox (say £1,500) then the net price for the buyer would be £21,095 compared with our Condition 1 guide price of £21,009.
Auction result
Sold to the winning bidder for £19,350 - this is the figure shown online but on checking it seems that figure only includes the buyer's commission and not the VAT thereon. So the total amount payable by a UK buyer would be £19,620 which includes both the commission and the VAT thereon. So on that basis the hammer price would be £18,000 and the seller would receive that amount less the seller's commission plus VAT thereron, only £16,380.
Mathewsons' buyer & seller fees

Auction listing estimate range
£20,000
£22,500
Mid point
£21,250
Hammer price
£18,000
- 15.29%
   
Our Condition 1 guide price
£20,351
Our Condition 1 plus & minus
£23,200
£18,500
Paid by buyer
£19,620
- 3.59%
Received by seller
£16,380
- 19.51%
     
Total fees/VAT on hammer price
£3,240
18.00%
Note: our Condition 1 guide price is £20,351 and Condition 2 is £16,506. Condition classes

Comment
This MG RV8 has an exceptionally low mileage of 14,650 miles and is in the rare colour of Old English White (only five were produced in this colour) so if the car was in Condition 1 (we were not at the auction and able to inspect it) then the price (£16,380 net of commission and VAT) achieved was disappointing for the seller but a bargain for the buyer (£19,620 including commission and VAT).