Mk3 Triumph Spitfire Appreciation

[Matthew]

Hi all, 

I wonder about the the rate of appreciation for these beauties? 

I own a near mint example and I thoroughly enjoy driving it around and getting to know the car but I did buy it in the hope that it will increase its value. 

Does anyone have any thoughts on how much, how quickly, it would increase its worth, if at all? 

Regards, 

Matt. 

[dannyb]

I have a 1500 Spit which is worth a lot more than I paid for it 16 years ago. But I have probably spent more money on it than I would like to admit to my wife. I would also never think of selling it as it has become part of me. To me it's all about the enjoyment of driving and looking after a classic car. If you have a mint MK3 and wondering about appreciation then you would never enjoy driving it.  I know lot of owners of classic cars and bikes that never drive them because adding mileage will reduce the value.  Just get out there and drive it rain or shine.

[Clive]

I wouldn't be surprised if prices plateau or soften over the next year or 2.

My theory is that classic car prices rapidly increased, partly because the pension rules changed meaning many retirees were flushed with cash and a classic car seemed a good idea.And then a bubble started to develop, and has continued to do so. At some point, as previously, reality will bite and prices will drop. Add the whole Brexit mess, uncertainty will cause chaos with prices of everything.

Of course, that is my theory. probably best accompanied by a large pinch of salt. But the reality is nobody knows.

[dougbgt6]

Mark,

I suspect you're not a TSSC member! We get a monthly magazine, the Courier and in there you will find a page regarding agreed values for insurance purposes on all models. My own car is worth an eye watering amount, however most of us, like Danny, have spent far more on our cars without thought of financial return.

Doug

[Matthew]

Thanks for the responses. 

I am a TSSC member but didn't know about the valuations page so thanks. I do enjoy the car immensely but I also think it's reasonable to wonder if it will retain or increase it's value over the years. People buy classic cars for a mix of reasons I suspect. 

And it's Matt, Doug. Not Mark 🤣

[Waynebaby]

Matthew,

There's an article in the latest Practical Classics magazine on buying Spitfires which contains the attached graph showing the increase in price over recent years. Whether this trend is going to continue is anybody's guess. I wonder if anybody else has spotted the deliberate mistake in this article? Apparently the rear spring is a pig to fit without a spring lifter! Can't say I've ever seen a rotoflex spitty.

Wayne

   

[Clive]

8 minutes ago, Waynebaby said:

Can't say I've ever seen a rotoflex spitty.

Wayne

   

 

I have 2!

[thescrapman]

My Mk3 spit has doubled in value in the last 30 years.

not great appreciation.

should have bought a TR

[Adrian]

It's definitely an interesting question. Its nice to know that any money you have invested in your classic would result in an uplift in value and that it doesn't turn into a money pit. BUT that's the chance you take isn't it. When you buy a car that has been restored you pay a premium so value is solely dependent on market forces in the future or if you buy a basket case and work on it yourself you pay a premium on parts as a non-business but save on labour but you end up being invested in the car having literally spilt blood over its restoration. I bought my gt6 3 years ago for £6600, I haven't dared add up the parts yet but I'd say it brings the total to well in excess of £10K but its academic as the journey and learning process has been invaluable to me.

I've probably spent more than I would get back on the Mini (at the moment) but again not intending to sell but enjoy.

As Clive said our car values will be more susceptible to market forces but I suspect will slowly creep up in value overall. Whilst we like our cars I don't think they will ever be in the same league as the jags, Astons, Jensons or the more moderns that have exploded in value such as the Audi Quattro and Cosworths.

It's ironic really as the GT6 is the poor mans E-type yet the GT6 is much, much rarer than the E-type.

Adrian

[dougbgt6]

3 hours ago, Matthew said:

And it's Matt, Doug. Not Mark 🤣

Sorry Matt, My eye sight's not what it was! 

I used to work with some Russians who spelt my name Dog.

Doug

[Colin Lindsay]

That PC graph is based on opinion more than fact. Cars are only worth what you think they are, and not what everyone else thinks, especially someone who wants to buy one. Insurance values don't reflect the real world price, but are a combination of factors. I'd never get £18000 for my GT6 even though it does win prizes locally. 

I'm also debating the wisdom of the line: "Originality is only prized with the earliest cars"... really? That's from someone who probably uses the term 'modern classic' a lot.