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Hey car guys, what would you offer??(7 posts)
|Hey car guys, what would you offer??||PaulCL|
Nov 1, 2001 11:05 AM
|Get this one.
A seventy+ year old lady client of mine, who, by the way, is legally blind and cannot drive, mentioned to me a car she owns. Here it is...she is the original owner of a 1969 Jaguar XKE V-12 convertible. Its' been sitting in a garage for ten years. She has some guy who starts it up and drives it around a few miles every month or so just to keep it in "shape". I love these cars. I almost fell off my chair. I immediately asked her if she would sell it - my ultimate divorce be damned!
Whaddya think is a fair price?? Money, sexual favors, begging, doing her laundry???? What???? Keep in mind that if I buy this car, I will have to live in it since my wife would throw me out.
Nov 1, 2001 11:42 AM
|If she's a "client", you gotta be careful and pay fair market. (I assume you mean client in the sense of some type of trust relationship.)
Look it up in Hemmings. Hard to say without seeing it and driving it. I could need thousands in work, or it could be a show car.
|re: Hey car guys, what would you offer??||DINOSAUR|
Nov 1, 2001 12:09 PM
|Hmmmmmmmm sounds interesting. 1969 was a good year for cars of all makes. A V-12 convertible? Not too many of those around. Sounds like it might be a collectors car. Must be some Jaguar clubs on the internet. Hard to say though not knowing what kind of shape it is in. Kinda think that parts are hard to get for this model. I have trouble getting parts for my old classic Mopar, it's worth a fortune in parts alone.
It would take my wife less to throw me out. Now I'm eyeing a Mondonico.
I know what is going through your mind though, cars like this don't come up very often. If you let it go you might be kicking yourself in the rear for the rest of your life.
I think you need to work on your wife some more, easier said then done.....
Nov 1, 2001 12:55 PM
|The reality is that if my clients desides to sell it, I'll probably not be the buyer.
Why?? The cost would be about $30,000 to $50,000 or more. Probably out of my league for a 'third' car, particularly one that just might need a lot of work. As for convincing my wife...not a chance. Also, I really doubt that she would ever part with that car. But, I'll keep hinting at it with her (her being client and wife).
Nov 1, 2001 2:13 PM
|Try the "investment opportunity" angle. Maybe that'll fly. If not, you just might be out of luck. :-)|
Nov 2, 2001 6:38 AM
|I broached the subject with the wife last night in the form of telling her the story like I did on this board. Her comment was "wow"...OK...I gotta chance. Then I jokingly said that we should 'invest' in the car. The snappy retort was "yeah, right". On to plan "B"
Maybe its' time to use the chinese water torture system of dripping the suggestion on her over several months......Problem is all the things I would have to give up to buy the car...my colnago, my bed, my home, sex.....maybe not worth bringing up the subject....only if the stock market was at early 2000 levels! Damn.
|Couple of things...||cory|
Nov 2, 2001 10:32 AM
|Most of the important points have already been made, but I've seen a lot of people get burned with "investments" in old cars...
The E-type is everybody's favorite, which is good. Last time I checked, though, the somewhat bulbous and overdone V-12 was less desirable than the six-cylinder. Not a factor if you plan to drive it and love it, but possibly one if you're thinking of it as a portfolio.
Parts are readily available, because nobody ever throws the cars away. They haven't reached the point, like some exotics, where it's impossible to total them (where it would always cost less to fix than to write it off), but the value's high enough that you can spend a lot and still be OK.
Jaguars generally are, uh, questionable as daily transportation. The newest ones, since Ford got involved, seem to be better, but everything before that was liable to go pffft occasionally. Electrical systems were the big problem, I think (typical British). Work is expensive.
The real issue, though, is whether it qualifies as an "investment." I did a magazine story in the early '70s on cars you could buy then and put away for the future, and one of them was the E-type. The Los Angeles Times was full of them in the $1200-$1800 range. Haven't checked lately, but I think they're going for $25,000-$40,000 now ('66 Mustangs in the same story were $200-$500!). That's good for the guy who bought in 1973, but who knows if they'll beat the stock market in the next 20 years? Don't forget, when the economy tanks, your list of potential buyers drops off in a hurry. When the dotcom boom busted, the classified ads around the Silicon Valley were packed with Porsches at thousands under what they were theoretically worth.