Prices still on the way up!

[Martyberg]

http://www.wheels24.co.za/AutoTrader/mercedes-sl-rare-mustang-these-classic-cars-could-sell-for-r56-million-in-sa-20161111
Hope the above link works. Lots of interesting stuff on classic car prices and particularly the Pagoda. Looking good to get R2 500000 for a 280SL in South Africa on auction (US$1= R14). Also one for sale in Cape Town for R3 500000! Classic cars, especially the Pagoda are proving to be very good investments😀.

[cfm65@me.com]

Hi Marty,
Yep, I suppose the prices are going up and up all over.
There are 3, that I know of, advertised for R2,2/2,3 million Rand in our local Junkmail and Gumtree online smalls, at the moment. The R3,5 is probably a bit steep but bear in mind he is an Auctioneer advertising the sale of classic cars owned by a famous cricket player.
The way things are going over here, I would not be suprised if ordinary people invested their life savings in classic cars in stead of pension funds, stock exchanges, etc. The last 12 months have been nerve racking, to say the least.
Regards
Chris
Cape Town

[Martyberg]

Hi Chris,

Yes, with the unbelievable volatility in the Rand, I'm not surprised that people are investing in US$ based investments! I see you have a 250SL as well, is it RHD?

Cheers,
Martin

[cfm65@me.com]

Hi  Martin,
I retired last November and also invested in US because of the Rand. Have been biting my nails for the last year and especially now.
My SL is a LHD Auto, my fourth one in the last 40 years and all lefties. There are lots of lefties here, in fact, I would not be supprised if we have more LH ones than RH. Our country never had an issue with LHD.  IIRC, the impotation of LHD cars were forbidden from 2000 in order to protect the local market from 2nd hand imports. It was never a big issue as in Australia. I had a LHD MGB for 30 years and changed it over in 2010 only because I stumbled upon a RH dash and steering box and thought it would be a nice challenge. It wasn't, in fact it was a walk in the park.
We recently had a Pagoda get together, which was attended by 40 cars, unfortunately I was on a vintage tour with my Chevy at the time.
Take care
Chris
Cape Town

[Martyberg]

Hi Chris,

40 Pagodas at a gathering in SA is quite an achievement. I left SA in 2000 and really didn't think there were that many around. Is there a dedicated Pagoda club over there? I would be amazed if they achieve those asking prices in South Africa. It might be worth buying a decent one for around US$50k in the States and importing it to SA. BTW who is that famous cricketer?

[cfm65@me.com]

Yes 40 Pagodas in Robertson is quite something. There must be a few more hiding away.
We don't have a dedicated SL or Pagoda club as far as I know. As I mentioned, I have been involved with Pagodas and 190SLs for many years. One of our members, Bernd Rohloff, now retired in Knysna, has been running a Pagoda news letter for many, many years. SL Chatter.
It seems as if the lemons are coming up to a million, so 2M for a descent one seems to be the going rate. How much and if they really sell is another story, but honestly, I think they do.
Importing LHD cars are not permitted since 2000. Further more at 14 to 17 Rand per US$ + 110% import duty, + shipping, +14% VAT, etc. It has become out of reach for most of the Japies.
I think Clive Rice was mentioned as the previous owner of the Pagoda, Mustang and Cobra parcel.
Cheers
Have a lekker day.
Chris

[Martyberg]

Hi Chris,

Ok, those import duties are pretty steep, no wonder the local prices are high. Clive Rice, what a legend, I hope they get good money for his estate. That mustang looks fantastic!

Keep well,
Martin

[ricrose]

Hi Guys

Really interesting thread for me - we came over from Cape Town in 1989 and I know that there were 4 Pagodas listed with the Crankhandle Club in Cape Town. I have a listing here (1986, when I was Chairman for a few years) but I am sure there were a few others not listed.

Cheers
Richard

[cfm65@me.com]

Hi Richard,
I have found that quite a few Mercedes club members are also 'old car' club members.
In the Cape they also belong to the Crankhandle club, in Johannesburg and Pretoria the Piston Ring club and here where I have recently retired in the Southern Cape/Garden route area most of the Mercedes club members are also members of the Southern Cape Old Car club. Google Mercedes Bens club South Africa and also Southern Cape Old Car Club.
Regards
Chris

[Martyberg]

It is interesting to see how the price varies from country to country. The best value is still the States (around US$50-80k) and it seems South Africa the most expensive. Australia, the asking prices are up to Au$200k although there is one for around $90k on cars.com.au but seems it needs a bit of work. One just sold on auction in Hong Kong for HK$650k (US$80k). When I bought mine, I convinced my wife it was an "investment" and she laughted......

[Martyberg]

Just read this article and apparently the Pagoda is the model "most in demand"😎

[steven harris]

Not sure the highest prices are in South Africa or Australia. #1 restored cars in the US seem to be north of $200k - even more for 5 Speeds. There have been 5 or 6 sold at auction in the last year or two in that range. I think what is happening is that as the cost of restorations go up, perfect original or restored cars are about the same price as a concours restoration on a $60k car.

[Raymond]

I would be interested in the trend of the average age of purchasers.  I wonder if the post-baby boom generations will, in any significant numbers, have an appreciation and desire for any piston-powered machines.  I know a few, but the love of automobiles doesn't seem to be the zeitgeist it was for teen-agers of even the 1980s.

[JamesL]

It gets worse (or better if you have some man-maths to do)
http://www.bonhams.com/auctions/23596/lot/26/?category=results&length=90&page=1
280SL/ZF
€230,000

[Rolf-Dieter ✝︎]

You can say that again James, it be $373,346.00 Canadian with our 13% tax not including shipping and handling should some Canadian decide to get it LOL

I know to import something at this price to Australia must be very high with the import duty and taxes etc.

Dieter

[Garry]

For australia it equates to $330k then a 10% GST tax and shipping.

Way too much money.