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MG TD TF 1500 - OT but WOW

This one is so awesome that I had to share some information on it.

I was visiting a friend that I am refreshing a 79 Triumph Spitfire for. This gentleman also had a 57 MG ZB (that I got running and sold for him) and has a 48 YT (that I am hoping to purchase) He also has a 26 Lafrance fire truck.

So we are sitting around talking cars today and he says. Oh, I also have another car at my other house. When he told me what he had, I was literally speechless. You hear about people finding rare vehicles, but never think it will be in the garage of someone you know.

It's not a British car and I can't give any details or tell the name of the car at this point, but lets just say that I think he won the lottery. He knew a little about the car, but had no idea how rare and unique the car is.

The car is a prototype of a vehicle that never got built. As far as we can tell there are only three of these that exist. The story behind the car is what also adds to its value.

He was joking that maybe Jay Leno might be interested. I told him that I think Jay Leno would make a personal visit to his house for this car.

My friend is raising money for a scholarship fund that he wants to set up. We were talking about selling his 26 fire truck to finance it when he drops this other car on me. Well, I think this is going to fund his scholarship program and a whole lot more.

Once the news of this car's existence gets out, I am sure you will read about it in the news. It is that unique.

There are some things that we need to check on, and then will probably be looking for a broker. I will post more once I get the ok to talk more about it.
Bruce TD4139 Cunha

Bruce, can you send to me your email address?

Jesus
J Benajes

Bruce,

I thought you said you would share some information? :)

A few thoughts:

I'd stay away from brokers. Trying to find an honest one will be very difficult. Most have their own little customer base that they are more loyal to than a seller that has one thing to sell. They are also there to maximize their cut.

He'd probably be better off with one of the reputable auction houses to maximize the value. If it is truly a news-making discovery, the auction houses would probably want to make it a centerpiece item at one of their major auctions. That means that they would negotiate or eliminate their seller's fee, publicize the hell out of it, and make sure the clients they know that would be most interested in it would be bidding. Also, if the proceeds are to go to charity, that often pushes the price up more due to the tax advantages the buyer might have. That element would get a bigger play in an auction rather than through a broker, as well.

If it is a non-American make, he would be best to go with an auction firm that has an international draw, like a Sotheby's or a Gooding, rather than a Mecum or Barrett-Jackson. Generally speaking, European cars will draw buyers from across the world, while American cars tend to be most interesting to Americans.

Sounds exciting!
David Littlefield

I think Laverne will have plenty to say about auction houses.

Bill Chasser Jr

This is probably more of an American interest. A Barrett-Jackson is a potential, but their no reserve is a concern. I will research the auction houses to learn more.

This will probably be something that will end up as a museum piece. As it is a very early prototype, I don't know if it can be licensed.

I was thinking of someone like Wayne Carini from Chasing Classic Cars. He has a pretty good reputation in the broker business and can afford to purchase it himself if he wanted to. Besides, this one would make a great TV story.

As soon as we get some issues worked out, I will be able to tell you more.
Bruce TD4139 Cunha

When you look at it Bruce, take a "good" camera with you, Take a zillion pictures before you touch it. Don't wash it...don't clean it. I watch "Chasing Classic Cars" and I have seen a trend on the show.

1. You never see what Wayne pays for a private purchase.

2. The privately owned cars that Wayne takes to auction rarely have a reserve and frequently don't come near their estimate.



In the first case, I would imagine that you would be "low balled" as his intention is to make money for himself. Just another "flipper" in my book.


In the second case, when Wayne takes "his" cars to auction, more often than not he has them on a reserve and doesn't take a beating very often. With the private owner cars, he simply shrugs his shoulders and says ' that's the way it goes sometimes" , shakes the clients hand and collects his commission I imagine.


At Barrett Jackson, If the car has an estimated value range of around a half million dollars or more, than it can go with a reserve. But you will still be eating commissions and fees even if it doesn't sell. The Scottsdale venue still draws huge crowds but the feeding frenzy and "dick waving" that went on at the auction houses 10 years ago has passed. All of these places want a cut...usually a large cut.

A rare car may not always have a huge value, but if this one is tied to a significant ie popular and valuble mark... say for example an original prototype of the Shellby Cobra... I would imagine it would bring big money. Same for say a Corvette.

Others maybe not as much as you might think,
documentation may be everything.

I know the director (not well) of a local auto museum ( Tammey Allen's) that has ties to Hendrix's Museum in Gateway, Colorado. His museum is striclty all about the history of American made cars. You may remember the 3 million he paid for the Olds concept. If you want to email me the details I can approach him and see if there is interest before you wade in with the sharks. There is a good chance he may be headed back to work for Hendrix.
MG LaVerne

obviously I am anxious to see what you found,,,,
Wayne Carini (25 miles from me)does find some waaayyy cool cars,,, but quite frequently it seems like he and his "mechanic" just pour some fuel into a very rare or expensive car that's been sitting for 10, 20 30 or more years, and try to start it!! With out doing any exploration into what is going on inside that block!! Not even oiling the cylinders, not even a check to see what condition the oil is in ! Gummy, full of water,, sugared maybe?? Doesn't even take the Valve cover off to see if everything is moving as it should,,, Kind of a recipe for disaster !!!!

Steve
Steve Wincze

Steve, glad you're a Carini fan too. I have watched all episodes and I believe and they always seem to do the things you are talking about. They use Magical Mystery Oil and all that good stuff. I think what we see on camera is a small portion of what they do. They have a big investment in those cars too!
Hey, I even met him in person out this way this summer!
Ed
efh Haskell

LaVerne. Drop me an e-mail at cunhab52 at gmail dot com

I met Wayne some years back. prior to his TV show. Seemed like a personable guy. Hope the fame has not changed him.

One of the things I do like is that while his shop has all kinds of exotic and rare cars, he normally also has an MG there also.

For a number of seasons, there was an MGA in the show room. In the recent show when he found a Datsun 280 Z with a few thousand miles, there was a TD in the background in the shop.
Bruce TD4139 Cunha

Oh dear, I hope that he didn't find that Bucciali I've been chasing for a while now....... ;-)
Willem van der Veer

This thread was discussed between 11/12/2015 and 13/12/2015

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