MGBGTV8 "barn find" for restoration sells on eBay

A number of V8 members found the auction of this MGBGTV8 interesting and followed the bidding which closed yesterday with a final winning bid of £7,399.99 which surprised some observers. The base price for a car in a really bad condition will sadly be its value broken for spares - and there are many parts no longer available which command a good price. Naturally V8 enthusiasts prefer to see an MGBGTV8 like this purchased for a rebuild, but what about the realities of the economics of a major rebuild of a barn find like this?

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Posted: 201022

1973 MGBGTV8 "barn find" for restoration
Bidding for this car on an eBay auction ended on 21st October 2020 with a winning bid of £7,399.99. The car was offered for sale by JC Motorwise near Reading in Berkshire.

Condition of the car looks grim with serious corrosion all over the cills and body panels. You can see a set of photos of the car with this link. Set of photos

Price achieved at auction - selling for close to £7,400 was a surprise because assuming the buyer's aim is to carry out a rebuild ending up with a Condition 1 MGBGTV8, then based on our last price guide released in early May 2020 the range of Condition 1 prices there is:
Condition 1: £20,032
Condition 1 Plus: £23,900

So the difference between the purchase price of the barn find and the likely value on completion of a rebuild to a Condition 1 is around £12,632. The key question is could a satisfactory rebuild be carried out with that amount as the rebuild budget - even for a home rebuild? Currently a replacement MGBGTV8 bodyshell is listed on the British Motor Heritage website at £14,322 including VAT.

This barn find is a bit of a mystery
Steve Bowley reported the advertiser had said the Car No/VIN was 0224 and he added he recalls seeing the car listed in a Member's Handbook, released by the V8 Register in July 1995, as located in New Zealand. The V8 Registrar noted a part registration of the car with the V8 Database at that time as Glacier White 0224 by a member in New Zealand. Checking 0224 with a copy of the MG Factory production records the V8 Registrar reported the original engine number was: 4860 0118A.

Ralph Hardwick learned from the seller that the original engine number noted on the V5 is 48600266. The V8 Registrar then reported "I have traced engine number 0266 to an MGBGTV8 GD2D1 363 G which was a car produced in Damask and then following engine number 0266 into the V8 Database see Damask 0363 is registered back in the 1990s with that number there but now has an engine number 4860 0157. Interestingly the copy of the MG Factory records shows engine number 4860 0157 was originally fitted to another MGBGTV8 GD2D1 266 G.

So the puzzle with the engine number change and when the car was returned to the UK from New Zealand remains.