Why is nobody buying this?

[Reverend Frog]

This mk1 GLS has been for sale on carandclassic for at least a year if not more.

It is immaculate in the flesh (I saw it on the street in London in 2013) and, although not cheap, is not overpriced either. It seems a decent, standard, mk1 for roughly what the market's demanding these days.

Any guesses as to why it's still available?

[mark1gls]

It does look tidy in the pictures and don't know why it's not sold, I guess it's just to much money?

Any one seen it "in the flash" recently?

[mr.brown]

Are you sure that's what the market is demanding these days? There was an original (and more much desirable IMO) GLi on here for less not long ago. And I'm sure that owner would have taken an offer.

[Reverend Frog]

Are you sure that's what the market is demanding these days?

Well, not really, no

I just see a few mk1s popping up priced well over the £10k mark, but I suppose they aren't necessarily selling either.

But this particular car is (was, four years ago) in really very good condition, obviously someone's pride and joy, and wouldn't need restored from what I could see.

The £2,800 Storm that was advertised on here might seem like a better bet, although I'm sure it would need a comprehensive stay in Nottinghamshire to bring it up to scratch, which would probably bring its price up closer to what is being asked here (I guess).

[mark1gls]

Here is 1 for £12500, again a GLS in good condition.

http://www.carandclassic.co.uk/car/C792953

[Reverend Frog]

Here is 1 for £12500, again a GLS in good condition.

http://www.carandclassic.co.uk/car/C792953

exactly - so the other one seems good value by comparison

PS this is not my car, in case anyone thinks I'm hawking for a sale :)

[james butler]

maybe without being snobby its because its a bit .... well ..... beige?

not the sort of colour inside and out or spec i would fork out £8000 for.
not to say its not worth it as its a very clean car and a credit to its owner its just the car mark1gls pointed out looks so much better imo,
granted not £4500 worth better but i know which i would prefer, so i think someone in the market for one of these is going to want to keep it origenal given the price, so is going to invest in the one they want and unfortunately means there must be more buyers who favour other cars over this one for one reason or another even if this ones a bargain by comparison

[BlackGTX]

costs £7995 insurance value £1500

[hiltow]

Mk1s are selling for greater sums than this. I've been surprised by the lack of response to the update of 'the £19k Mk1' thread that I made weeks ago - a lot on here were sceptical that it would ever sell, and apparently it did!

The market is at a turning point with prospective buyers now thinking twice before paying 'the new going rates'. The difference here is that the car you refer to looks to be a private sale as opposed to a dealer in the example I'm quoting. Generally, folk feel more confident paying larger sums of money to a dealer than 'a bloke standing on his drive' because of the perceived dealer support and customer rights / peace of mind. Dealers also tend to market cars better as well; studio quality pictures showing things off like a brochure.

Not that the dealer support is really worth much when it comes to selling classic cars - they are old cars and, no matter how mint, buyers should not be expecting the standards of buying a two year old car.

Finally, it will cost a lot more to restore properly the Mk1 Storm project up at £2800 this week than the extra cost of buying a £7/12/14k example.

[Reverend Frog]

Mk1s are selling for greater sums than this...it will cost a lot more to restore properly the Mk1 Storm project up at £2800 this week than the extra cost of buying a £7/12/14k example.

Exactly. Hence my surprise that it's still for sale. I think someone would be very happy with this car. Although I do recall that he bumped the price up from £7495 to £7995 a while ago. Maybe seems greedy?

[GTXTRA]

I exchanged messages with the previous long term owner before it sold for, I believe, 6k.
Within weeks it was back up for sale at 8k so clearly someone thought they could make a quick buck.
My concern now would be lack of use in that time??

Values are at a bit of a tipping point for sure and it'll be interesting to see if the other red car, seen at Stanford Hall a few years back after a full restoration, achieves its asking price.

[the edmundator]

Are you sure that's what the market is demanding these days? There was an original (and more much desirable IMO) GLi on here for less not long ago. And I'm sure that owner would have taken an offer.

He did.