Looking for a MG 260 Cash Buyer

[precious metal]

I suppose the old saying is true to a certain extent, "a cars only worth what a buyer is prepared to pay" and at this time, there are not a lot of buyers wanting sub 20mpg, group 20 insurance etc.

I have three people wanting 20mpg, group 20 ins english built V8 engined MG saloons, so the market is there although small for these beasts that are getting rarer and i think now the prices have seen rock bottom and will go back up with time.

if a CAT D MK1 with no history makes over £5,000 then a decent one will certainly make more than £6k privately, and quite rightly so.

AM's car is worth upto £7k privately all day long

JB @ Elite

[stevemiller]

I am afraid the good ones are few and far between. I paid £10450 15 months ago and I expected the values to drop cica £6k. I also thought the price's would then firm up.

I will not be selling as the car is now promised to my son. He is 14 and would never forgive. Even with no son in the equation if offered more than my £10.4k now I would not sell as I think I would not be able to be assured of a better car for that in the near future. This will be in part down to two factors.

First there are less good ones around and this will become more common due the the current low price and the purchasers ability to maintain the car in top condition.
Second owners such as myself unwilling to part even when offered top book value +.

This is why my car will be rust proofed later this year at rustmasters to preserve the car for as long as possible.

Therefore 7K seems good value for a good car, if the car is all you want in a car then I would not be too unhappy to increase my offer closer the the asking price. Thats my tuppence worth.

Steve.

[ColinE]

I am afraid the good ones are few and far between. I paid £10450 15 months ago and I expected the values to drop cica £6k. I also thought the price's would then firm up.

I will not be selling as the car is now promised to my son. He is 14 and would never forgive. Even with no son in the equation if offered more than my £10.4k now I would not sell as I think I would not be able to be assured of a better car for that in the near future. This will be in part down to two factors.

First there are less good ones around and this will become more common due the the current low price and the purchasers ability to maintain the car in top condition.
Second owners such as myself unwilling to part even when offered top book value +.

This is why my car will be rust proofed later this year at rustmasters to preserve the car for as long as possible.

Therefore 7K seems good value for a good car, if the car is all you want in a car then I would not be too unhappy to increase my offer closer the the asking price. Thats my tuppence worth.

Steve.

For my tuppence worth - I think Steve's covered it admirably

[obiwan]

Seeing as though tuppences are the order of the day, here goes:

Anything is only worth what someone will pay for it. At the moment there seem to be a steady pool of buyers willing to part with more than £6k for decent examples.

I would think that if any good examples went on the market at £6k they would be snapped up before you could say "future classic".

I also think this is evidenced by people like W88CHY posting on this forum saying they've got cash waiting at below-market £££ - got to get in early if they are going to come up at that sort of price!

W88CHY - maybe you should go for a test drive - my guess would be you'd soon be justifying a little more in the budget! (OK so I'm probably a little biased...)


Ben

[ColinE]

(OK so I'm probably a little biased...)


Surely not........

[Phil]

I suppose a car is worth what someone is prepared to pay, only if you are desperate to sell, though.

Mine is a '55 reg, one owner with less than 20k miles, and has an agreed, guaranteed value of 12k from Peter Best insurance. Agreed by sending a series of photographs. My point is, they must know the replacement value of these cars, and are prepared to stand by their valuation.

It is not a good time for car and property values at the moment, but the best examples will be sought after in years to come. Also, some cars which did not leave the factory as an SE model, have now been fitted with aftermarket and OEM accessories which are far and away better than the originally fitted equipment on the SE. For instance, the Sat Nav was out of date when the car was launched and non-upgradeable. After market DVD based units from Pioneer, Alpine and the like are far superior. Even the later BMW ones can be retro fitted to a 260 which did not have one when it left the factory.

I think some good points have been made on this thread, and condition is starting to vary, compared to when we first started this group, and they were all fairly new and in the same condition.

The rarity value of the 260 is also a point to consider, with only a few hundred of each type ever made. In this way, they stand comparison with S Type Jags, 330s etc. which are much more common.

If someone needs to sell, then they will have to take what someone is prepared to pay, subject to negotiation, but I don't believe that reflects the true value of the 260, which will only become truly apparent in years to come. Precious Metal is right, though. There is still a demand and enthusiasm for powerful cars, regardless of all the media PC twaddle.

I suppose the conclusion is that top and bottom values are really starting to widen and each car has to be valued on its own merit, rather than saying that they are all worth roughly the same.

[RedzedV8]

Hi Andrew
I may well be looking at a 260 after the family holiday is out of the way- can you send me some pics please - mg.ztt@virgin.net.
Thanks, Lindsay.

[cooltide]

Anybody know what other 5 year old V8 saloon / estates can be bought for 7 grand?

Money well spent i'd say, and bar yet more stealth taxation, should not fall in value any further.

I've driven many rear drive cars and a few v8's included, and have never felt so confident to push on through bends, and mine didn't have traction control. Very solidly bolted together, sublime handling.

An S6 would show it a clean pair of heals on any road, but is 6k going to buy you one from this millenium?

The 540 German Cortina, smooth as silk to drive, zero fun

Personally, I would be prepared to pay over 6 for the right car with impeccable history that hasn't been used as a shopping trolley.

If 6 is the limit you can forget low mileage SEs

[Charlie]

I seem to have rocked the boat with my view on what I value the ZT 260 at.

As many have said, yes others have agreed with what I said - a 260 is only worth WHAT A BUYER IS PREPARED TO PAY - in this case, the buyer is me, and I am prepared to pay £6k.

It doesn't matter how much members THINK these cars are worth, unless of course the members are actually a serious buyer like myself.

At the end of the day I am not holding a gun to a sellers head, they have a choice of my cash right now, or wait for another buyer to appear whenever that may be.

Oh, food for thought..... (and YES I am looking into it, but keeping an open mind if others crop up)

http://www.pistonheads.com/sales/1139780.htm

[stevemiller]

I seem to have rocked the boat with my view on what I value the ZT 260 at.

As many have said, yes others have agreed with what I said - a 260 is only worth WHAT A BUYER IS PREPARED TO PAY - in this case, the buyer is me, and I am prepared to pay £6k.

It doesn't matter how much members THINK these cars are worth, unless of course the members are actually a serious buyer like myself.

At the end of the day I am not holding a gun to a sellers head, they have a choice of my cash right now, or wait for another buyer to appear whenever that may be.

Oh, food for thought..... (and YES I am looking into it, but keeping an open mind if others crop up)

http://www.pistonheads.com/sales/1139780.htm

You are correct and if you stick to your guns there is every possibility you will get a good one for 6k. I was only pointing out what I believe to be the case. I look forward to further posts. When I was looking I was horrified at the condition some of these cars were in and at that time people were holding out for 10k.

Good luck

Steve.