"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?
See our MGV8 Price Guide. More
Market review & price guide
a car with a VES search
on the GOV.UK website. More
a car's MOT history on the GOV.UK website.
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
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.