Midas Cars Forum - www.midascarsforum.com

Found on eBay - not sure about the coment about a "1983" convertible being properly registered and Q's arn't................


http://www.ebay.co.uk/itm/MIDAS-GOLD-CO ... 33a08f4a9b

He's quite optimistic about its value, too. I really don't think it's worth anything like that in its current condition.

It's not as if it's a Mini Marcos, after all...

DavidL wrote:He's quite optimistic about its value, too. I really don't think it's worth anything like that in its current condition.

It's not as if it's a Mini Marcos, after all...

Well he bought it for £820.99, just over a month ago - http://www.ebay.co.uk/itm/MIDAS-KIT-CAR ... true&rt=nc

That's inflation for you

Definitely overpriced considering the interior needs a full trim.

As regards the Y-reg or Q-plate. We all know that Q was introduced for cars of indeterminate age and was applied to most kit cars and even some imports and stolen-recovered, when it was introduced until there was a backlash (because Q-plates cannot be transferred or changed) and in the end they introduced a point scheme, where if major components were carried over from the donor then the donor registration could be retained.

ACourtney wrote:

DavidL wrote:He's quite optimistic about its value, too. I really don't think it's worth anything like that in its current condition.

It's not as if it's a Mini Marcos, after all...

Well he bought it for £820.99, just over a month ago - http://www.ebay.co.uk/itm/MIDAS-KIT-CAR ... true&rt=nc

That's inflation for you

Great, that's trebled in value in a month. So, given that I've had mine for about 3 years, about 36 times as long, and it cost me £950, it must be worth about £142 quintillion by now.

Drinks are on me!

His remark regards the Q reg is utter 80110X

I thought I'd enquire as to a further explanation about the Q reg being incorrect as he is such an expert I wonder if he replies ......

Well here it is guys and girls.........

New message from: classicminiworks (935)

Hi

After a certain year it's not possible to use the donna cars identity and they are registered as a Q reg, this has been registered before therefore having a proper registration not a Q reg

Thank


Amazing eh clearly a very knowledgeable chappy indeed. Utter utter 80110X

I hope he gets the asking price. Its nice to see the financial recovery is underway.

In some ways it would be nice to see him get the asking price. Its just that, as we know all too well, our cars are greatly undervalued. Especially if you compare them with a Mini Marcos in equivalent condition.

I can see his logic, he lays it out in the description. Remember, he is coming from the Mini restoration scene and nowadays Mini owners are generally happy to pay to have things done properly as they will see a return in the value of their car.
As he lists it out, it has a 1.3 MG Metro engine - something that many Mini owners would pay around £500 for alone. It also has the 4 pot calipers, again something that Mini owners are happy to spend a couple of hundred pounds on. The car is correctly registered as a Midas and has a V5C - so thats £450 worth of IVA test avoided. He also mentions the subframes, which if in good order (it has been stood in dry storage for most of its life so they should be) would also add to the value of the car. Adding that lot together, then a realistic value should be of the order of £1200 to £1500, but is it likely to fetch even that? I think that it would need to have an MOT on it to fetch that in the current market.

This guy is a trader and will want to turn a profit. He took a risk on buying the car because there was a question mark on its ownership and it hasn't run for more than a decade. Apart from the £820.99 he paid for it on ebay, he will have paid out £25 to get the V5C and also the cost of collecting the car from Solihull. So it has probably already cost him around a grand so far. What is not clear is whether the car is a runner, or if all he has done is wash the dirt off the car since collecting it. It does seem to me that £2.5k is a bit, shall we say, optimistic.
If he has got it running then he should MOT it. The lack of interior trim shouldn't put people off, but an MOT certificate will go a long way towards removing any other doubts.