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FF11 £105K

Posted: Thu Jun 18, 2015 9:05 am
by taximan
http://www.paleclassics.co.uk/1970-jensen-ff.html" onclick="window.open(this.href);return false;

Shaun.

Re: FF11 £105K

Posted: Thu Jun 18, 2015 10:28 am
by sentimental journey
Cheaper than restoring one.

Great car.

Re: FF11 £105K

Posted: Thu Jun 18, 2015 1:22 pm
by AH1951
Crikey!
How much does it cost to restore one?
Please don't say "More than £105K."

Re: FF11 £105K

Posted: Thu Jun 18, 2015 2:21 pm
by montpellier
AH1951 wrote:Crikey!
How much does it cost to restore one?
Please don't say "More than £105K."
And a few years maybe too...

Re: FF11 £105K

Posted: Fri Jun 19, 2015 12:48 am
by sentimental journey
AH1951 wrote:Crikey!
How much does it cost to restore one?
Please don't say "More than £105K."
To that standard, lots of money and years off the road.

Everyone has a different version of restored it seems!

Re: FF11 £105K

Posted: Fri Jun 19, 2015 2:54 pm
by Richie
Given the Hagerty valuation of an "excellent", but not concours (which is £139,000) FF being £118,000, on that basis the price seems fair...

Re: FF11 £105K

Posted: Fri Jun 19, 2015 3:08 pm
by Chris_R
It's not the asking price that is significant, what it actually realises is the important number. And that will most likely remain private between seller and buyer. There is plenty of evidence of high asking prices but much less evidence of such prices being achieved.

Re: FF11 £105K

Posted: Sat Jun 20, 2015 11:00 am
by AH1951
That's why auction results are so interesting.
The most recent FF auction sale I've found was £78,400 for this Mk I at Brooklands. http://www.historics.co.uk/buying/aucti ... f.aspx?p=4" onclick="window.open(this.href);return false;
Buyer would pay a 10% premium and so would the seller. (+ VAT on each)

Re: FF11 £105K

Posted: Sun Jun 21, 2015 5:58 am
by colin7673
Wonder what the commission rate would be on this one then?

Re: FF11 £105K

Posted: Sun Jun 21, 2015 4:59 pm
by Steve Groves
AH1951 wrote:That's why auction results are so interesting.
The most recent FF auction sale I've found was £78,400 for this Mk I at Brooklands. http://www.historics.co.uk/buying/aucti ... f.aspx?p=4" onclick="window.open(this.href);return false;
Buyer would pay a 10% premium and so would the seller. (+ VAT on each)
I saw this one just before it sold, it did need a fair bit and had rust issues especially in the chassis tubes, I'd suggest it was some way of excellent so the £78k probably isn't far off the hagerty valuation for it given the work needed

Steve

Re: FF11 £105K

Posted: Mon Jun 22, 2015 10:50 am
by AH1951
colin7673 wrote:Wonder what the commission rate would be on this one then?
I think it's 10% from the buyer and 10% from the seller.
With VAT on top of those, over £97,000 has been forked out for the purchase of the FF.

Re: FF11 £105K

Posted: Mon Jun 22, 2015 11:10 am
by ascotts1
I think it's 10% from the buyer and 10% from the seller.
With VAT on top of those, over £97,000 has been forked out for the purchase of the FF.
Correct me if I am wrong but I believe the VAT is only calculated on the commission, not on the overall price which would make the price closer to £87k ??

Re: FF11 £105K

Posted: Mon Jun 22, 2015 11:17 am
by AH1951
You are correct about the price to the buyer.
Hammer price was £78,400.
Buyer's premium: £7,840 + 20% VAT = £9,408.
Seller's premium: £7,840 + 20% VAT = £9,408.
Total paid out: £ 97,216. (Between buyer & Seller.)
Seller receives: £68,992.
Buyer pays out: £87,808.
Auction house gets: £15,680.
Taxman takes £3,136.

Re: FF11 £105K

Posted: Mon Jun 22, 2015 12:05 pm
by Rotor-G
Will the lack of original detail (especially in the engine bay) not devalue the car?

Re: FF11 £105K

Posted: Mon Jun 22, 2015 1:03 pm
by zacmarshall
Rotor-G wrote:Will the lack of original detail (especially in the engine bay) not devalue the car?
The only non original part I can see in the engine bay is the chrome air cleaner, a common fitment to FFs given the clearance issues.

With the interior it has a plate on the centre console for the radio, not sure what is underneath it.

This is Darren Barnes' car (membership secretary and forum moderator). Darren took the car on the Dutch Autumn weekend last year (see https://www.joc.org.uk/club/videos for a video featuring the car and other videos. Darren also has his fantastic early 541 and a C-V8.

The car was owned by someone that ended up in jail for embezzling money from his employer to finance the restoration of the car, the restoration was then completed by Applyeards (I think as Andy Brooks own car), Darren then made him an offer for it...