1966 Roadster Value

[Chris Picken]

Hi...

I know this is a 'how long is a bit of string' question, but i need a ball park value for an MGB I'm looking to buy.
It's a 1966 roadster in old english white with knock on wires. It has a switch for an OD, so I'm guessing one is present. The body is generally very sound (from what I've seen so far... I'm getting it up on a ramp this weekend for a proper poke about), but the paint is scruffy, especially on the front wings which look like they've been replaced with new panels and so badly sprayed that the paint is peeling off revealing the black primer beneath. The other point of concern (so far) is some surface rust appearing through the paint on the beads that run along the front and rear wings. The rears worry me the most because of the way they're spot welded in place. The interior is pretty poor, with the carpets and most of the door/side panels needing replacing. There is no hood or hood frame with the car, but I'm told there is one 'somewhere'. The car has been laid up indoors for the best part of 2 years, but was MOT'd and being used right up to the point when it was parked up. Mechanically... well, there's an engine under the bonnet and no pool of oil underneath, which is promising, but after that, I have no idea.
I've guessed a value at £3000 to £3500, but the owner thinks it's worth more (but i don't yet know how much more).

Can anyone tell me if they think I'm close/miles out etc etc??

Thanks in advance :)

Cheers,
Chris

[Peter Cresswell]

Hi Chris
You are right in thinking it is almost impossible to put a value on a project car without seeing it, so I'm not going to try! However some things to think about when you see the car and can have a poke about.
1. Really the value is whatever you are prepared to pay for it, so think of it in terms of an auction purchase and set yourself a limit that you are prepared to go to if you decide to make an offer, and be prepared to walk away if the seller doesn't accept your top offer. There are plenty of MGBs for sale!
2. Take a look at adverts in magazines and papers like Classic Car Weekly and Classic Car buyer to get an idea of value once it has been restored.
3. Early cars, narrow transmission car Mark 1 cars have a higher value but the most sought after is the pull handle mark1 with 3 synchro box, overdrive and 3 main bearing engine. Original unrestored cars command the highest values, once it has been restored it has lost the patina that comes with age. A 1967 car should have the 5 bearing engine, but with the 3 synchro gearbox. If you can't try out the mechanical side, then assume it will need rebuilding. A reconditioned engine, gearbox and overdrive will be around £3,000 in total unless you can do the assembly yourself.
4. If the wings need replacing they are around £500 for each corner plus fitting.
5. Interior trim is fairly expensive so don't assume you can fix that cheaply, especially if the seats are in poor condition. Again, an original interior is a premium in terms of value.
6. A quality respray will cost anything up to £3,500 depending on where you live and assuming you provide them with a bare shell! You need to find someone that understands the look of the paint finish is important. Two Pack paint is most likely to be used and produces a finish that is too shiny for a 1960s car! It needs to be flatted then polished after spraying. Also it might be hard to find someone who will do a whole car as most sprayers are geared up for replacing and spraying accident damage for insurers.
7. You can see that to restore an MGB can quickly cost more than the car is worth, so you can be better off financially buying a car in better condition or one that has already been restored. Good MGBs are regularly advertised in the £7,500 to £12,000 range, the middle of which is the price of a Heritage shell!
Hope this helps you when you see the car this weekend. Good luck!

[George Wilder]

Chris
I endorse every Pete has mentioned.

I also suggest that you take along an extra pair of eyes.
Need not be an expert on MGBs as it can be surprising what others can see.

Good luck
George
PS Useful to add your location area

[Chris Picken]

Hi Pete and George,

Thanks for your replies, both very much appreciated!

Just to pick up on a few of the points made, I trained as a mechanic (although I've never done it professionally) and a coachtrimmer, so I'm going to be quite happy doing mechanical and trim work myself. Bodywork I've not done, but everyone has to learn sometime right (*cough* how hard can it be)?
From what I've seen of the car in question so far, the majority of the paint looks sound, with not much more than a good cut and polish needed to bring it up. The front wings definitely need stripping and spraying, but they appear sound as it's only the top coat that has peeled and the primer looks intact. My biggest worry is still the beading along the tops of the rear wings, but every car, unless a fresh restoration, is going to have it's issues... part of the fun really :)
Ideally, what I want is a rolling restoration. I'm not really interested in a concours car, more something solid and enjoyable. If i can do bits on it in the winter, then enjoy it in the summer, that'd be perfect!
The sale of this car is being done via a mechanic with lots of classic car experience who is also a family friend, so I trust his judgement. He'll be under the car with me on Saturday, so I'm pretty confident he'll pick out any faults if I don't.
Ultimately, I want a fair deal on this car... I don't want to be ripped off, and equally I don't want to rip off the seller.

I'll let you know how it goes :) If this isn't the one, then like Pete said, there are plenty more out there.

Cheers,
Chris