Same old overpriced stuff

[David Davies]

I seem to have been seeing the same old overpriced Jensens for sale on carandclassic for months and months with very few selling. Surely there has to be another price correction at some point?

[Mark1Stu]

It’s hard not to come to the same conclusion David. Over priced if no one is prepared to buy, but for the good ones, cheap when you work out the costs of a proper restoration. But how many buyers think that way and can differentiate between a proper car and tarted up bodge of a car?

I think those who need to move their cars on will migrate to auction houses and probably take a beating in the current economic climate, whereas those who can afford to play a long game will largely stick with their existing pricing strategy and hope for the best. Can’t help thinking that the latter approach will also end up tarnishing good cars as landmarks ‘which must have something wrong with them’ - which ultimately further erodes the image of the marque.

Thankfully, some really good cars still sell for good money….or they did until a couple of months ago.

As an aside, I’ve got 2 Jensens which I shall be selling in due course. Where, when and for what price is something I’m struggling with….and that’s before coming to terms with the emotional wrench of letting go. I’m minded to advertise the price as ‘upper quartile’ on the basis they won’t necessarily sell quickly (and thus the price could fluctuate) and if potential buyers get in contact (assuming ‘upper quartile’ means anything/hasn’t put them off), steer away from ‘how much do you want for it mate’, and try and get them to lead a conversation on what they perceive as the upper quartile price range. If the view on price range is similar, then seek to progress the sale. If not, drop them and save yourself a lot of time and angst - and set a time limit how long you advertise the car.

[johnw]

It is not a liquid market, apart from the no reserve auction scene. It is difficult to sell a Jensen for a good market price, a price you could replace it for, and difficult to buy the one you fancy at a good price, because sods law says the seller of that car you want will be totally unrealistic price wise. Exactly as you say, you have seen them there on offer. You would never be able to recoup most of the price if you needed to sell it on. This has become more polarised recently I agree. Typically the car you want, say a Mk2 Interceptor with black leather, desirable, but not as quick to sell as a Mk3 with black leather, will be for sale by the person that wants silly money for the Mk2, whereas Mk3's, there will be a glut of reasonably priced ones. I have never found it particularly quick or easy to buy or sell a Jensen. It does seem to be a waiting game, perhaps more so than ever now.

[David Davies]

I’ve always been of the school when selling a classic or modern car privately to offer it at a keen price that is attractive to the buyer and then stick to it, bar say a £250 sweetener. That way I usually get one serious buyer who is not going to walk away. Usually one wants to move on to the next thing and letting it stick on the market tends to make people suspicious.

Auctions after buyer premium and vendor commission are very harsh, though there are exceptions like the recent barn find 541 which attracted the barn find premium.

There are a very very few cars that are truly concours and to original spec which immediately hit one between the eyeballs and merit very high prices to the one or two people who want that. I don’t see anything like that on the market.

[johnw]

There are a very very few cars that are truly concours and to original spec which immediately hit one between the eyeballs and merit very high prices to the one or two people who want that. I don’t see anything like that on the market.

There was this 50,000 mile Mk2 with black leather that springs to mind recently!
https://www.mecum.com/lots/KD1221-46980 ... ptor-mkii/

"Documentation includes the original Protect-O-Plate; tool kit and jack; fire extinguisher; first aid kit; service voucher book and dealer/distributor book"

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Nice original car it seemed, sold for $30,000.

I know the 541 you referred to, it did look interesting.

[Peter Rothery]

The blue convertible from Peter Vardy must be the longest running advert since it was bought from auction back in 2016 for about £68k. Price has recently gone back up to £75k with no takers. Genuine convertible with allegedly low mileage but LHD to RHD conversion which might put some off.

https://www.carandclassic.co.uk/car/C1353911