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Asking $2.5 for a Spit. A record ?

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  • Sideslip
    Rank 5 Registered User
    • Apr 2012
    • 634

    #21
    Originally posted by Stepwilk View Post
    ]

    These are not the reasons why people bay $35 to $50 million for vintage cars. Not even close.
    I would suggest the reason being that they have all got far too much money and don't know what to do with it. Why else would you shell out millions for a metal box with a wheel in each corner?
    Work! You don't know what work is. When I was a boy...

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    • Mark12
      MEANS MOTIVE OPPORTUNITY
      • Jan 2000
      • 10835

      #22
      ...or perhaps it just might be that some of the top end cars, and aircraft, have proved to be damn fine investments over the middle to long term.

      Price of a fly away Spitfire just after the Battle of Britain film in 1969...12,500.

      Mark
      "...the story had been forensically examined and was deeply impressive. I knew that the whole story was a load of myth and baloney"

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      • DazDaMan
        Rank 5 Registered User
        • Aug 2003
        • 18660

        #23
        Wasn't P9374 up for sale for about 3.5mil recently?
        Daren Cogdon

        Spitfire fanatic

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        • Sideslip
          Rank 5 Registered User
          • Apr 2012
          • 634

          #24
          Originally posted by Mark12 View Post
          ...or perhaps it just might be that some of the top end cars, and aircraft, have proved to be damn fine investments over the middle to long term.

          Price of a fly away Spitfire just after the Battle of Britain film in 1969...12,500.

          Mark

          And what sort of people do you need to make them such 'damn fine investments' The sort of people I mentioned perhaps?
          Work! You don't know what work is. When I was a boy...

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          • Sabrejet
            Rank 5 Registered User
            • Mar 2010
            • 1698

            #25
            Originally posted by Stepwilk View Post
            ]

            These are not the reasons why people bay $35 to $50 million for vintage cars. Not even close.
            Kenneth is on the button: it's why racers such as GTOs (with minimal history of note) fetch more than double or triple Le Mans winners: degrees of the 'which one can you drive to the shops?' statement.

            Daft but true: Spitfires and other historic aircraft come in the same bracket as impractical historic racers (vs racers and other autos which are less impractical). As a rule, if you can use it on the road and has two seats or more, then it will cost more than a monposto, irrespective of the latter's history. It's one reason why Irvine Laidlaw got rid of a lot of his collection a while back - got rid of the cars he couldn't easily drive on the road that is. By no coincidence, those which he retained just happened to be those that would have a high price tag.

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            • Propstrike
              Rank 5 Registered User
              • Mar 2004
              • 3947

              #26
              Originally posted by Mark12 View Post
              ...
              Price of a fly away Spitfire just after the Battle of Britain film in 1969...12,500.

              Mark
              About the price of a good four-bed house in the home counties, which might now be ,say, 750K (?)

              In that respect ( return) the Spit has performed well, though the house has the fringe benefit of providing 45 years worth of free accommodation

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              • WebPilot
                Rank 5 Registered User
                • Jan 2000
                • 1898

                #27
                Using the UK Rate of Inflation index, 12,500 in 1968/69 equates to a current value of 189,000. A very good rate of return.

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