Post by charliefarlie on Apr 8, 2021 16:48:05 GMT
But as discussed elsewhere there are other marques including the MX5 that are going bonkers in price but I wouldn’t buy one of those or any other car for that matter.
Motorcycles are doing the same but for a different reason...
Back in 2006 I could buy a Yamaha R1 for 6K. To buy a 2006 R1 today in proper condition is the same 6K.... Some ask even more. For a 14 year old bike.
But a new R1 today costs upwards of 16K....... So the demand for the older bikes has risen cos very few can afford 16K for a new one. Utterly mad in my opinion but there it is..
The price of anything is determined by what someone is prepared to pay for it. If you wanted a 4XV R1 in great condition you'd pay anything up to £15K for one; the dearest 4XV in MCN today is £10.5K. That's for a 23 year-old bike and more than twice its price new. But someone will pay it and be pleased with it.
That's the thing, Charlie, people will pay for what they enjoy; there are folk who will happily take out loans to fund their 3 or 4 overseas holidays or cruises per year because that gives them pleasure. To you or me that sounds crazy but to them it's their hobby, if you like. People buy old cars or watches or whatever because that is their particular passion; I've got more watches than I need or can wear at one time but I love each one of them; does that make me bonkers? Maybe. Would I have kept our 3-dr RAV if we'd had the space for it? Yes, most likely I would have. You have got, what, 3 cars? Two are because you are a petrolhead and those 2 give you a buzz. Your money, your choice.
Jay Leno's garage is worth millions and includes cars that don't have any particular investment or classic/vintage value but that he just likes for their own sake. Should he get rid of them because someone else thinks that he is nuts to have paid for them?
Everybody's different but how they choose to spend their money is up to them. Have a look at Classic Cars magazine to see what some people are prepared to pay for stuff that wouldn't appeal to all of us.
It may be to my detriment but my heart seldom rules my head when it comes to purchases of this type. I just won’t subscribe to the paying through the nose because some greedy seller is asking bonkers money.
As David said above and it’s fact. As long as folk will pay the sellers will grab their money. None of mine though 👍👍
