Need funding?
Need funding?
I need to be a better mechanic :) I can set them up and I can do parts development, but I’m not in the same league as the current FM techs when it comes to building a jewel.
Can you tell us about the owner's tube frame projects?
Keith Tanner said:I need to be a better mechanic :) I can set them up and I can do parts development, but I’m not in the same league as the current FM techs when it comes to building a jewel.
Maybe you just need to hire some of those mechanics away from their current jobs... Wait, that would probably be a conflict of interest, wouldn't it? :)
I'd invest.
It needs an East Coast division of operations...
In reply to Keith Tanner :
This listing has more "reportedly" than the usual "allegedly" in most listings. Maybe copy editor got an adverb swapping tool?
The auction finished at $46,500 with at least five people in the mix for the last minutes. There haven't been many of these change hands in the past year or two, so it's good to see that values are not just holding but actually appreciating.
Heh heh heh.
Interesting! Meanwhile, a similar condition C5 Z06 which would have been my benchmark when looking to buy something like this 10 year ago would be worth, what, half the price? I wonder if the seller ended up money ahead on the ownership. Seems likely. I'd say, well bought! (At least, for the original owner, and likely for the current owner if they take care of it.)
The seller bought that car new, so when you factor in new car depreciation he definitely didn't end up money ahead. The new owner should be pretty confident of maintaining resale value, though. I think they're appreciating.
It's definitely fared better than the always-an-option $20k Z06 in terms of resale, but then again it's a very different kind of car. It's about as different from the Corvette as an Elise is from a Pontiac Vibe. I'm just happy that the market values these cars higher than a DIY level build, it's very satisfying from a professional standpoint.
LarryNH said:In reply to Keith Tanner :
This listing has more "reportedly" than the usual "allegedly" in most listings. Maybe copy editor got an adverb swapping tool?
Letterkenny has influenced use of "allegedly"
In reply to Keith Tanner :
You're probably right; he likely paid what around $22k for the car then maybe $25-$30k for the v8 conversion? Meaning a total of about $50k. A new z06 would have been right around $50k at the time. The z06 would be worth about $20k now, versus the $46,500 the Miata sold for. Definitely a better return, but yeah not actually money ahead.
I agree that the z06 and v8 Miata are different, but not as wildly different as an Elise and a Vibe. That's more than a bit of an overstatement. They're both rear wheel drive v8 powered sports cars. It's like the difference between a 911 and a Corvette, or a Mustang and an Aston Martin v8 Vantage. Different, yes, but more similar than different.
He paid more than $25-30k for the conversion. That's not even the price of parts alone, never mind the labor to strip the whole car down, seam weld, modify the chassis, modify the rear subframe, change out the bushings and bearings, Lizard Skin the interior, paint, reassemble, build the car, tune the car, etc. At the time we we built this car, MSRP on the conversion was $49,995.
Unless there's a red prancing horse on the hood, not many people make money off a new car. But the values on these have stabilized or are climbing, so the new owner will do well.
I just got off the phone with him. He's excited :)
In reply to Keith Tanner :
Gotcha. I bet. Having owned one of those is at this point like having owned a real Cobra, only even more exclusive.
And with working AC and power steering and a cooling system that won't overheat on a 40 mph cruise through the mountains. We did a comparison test with a "real" continuation Shelby a few years back, and had to abandon the Cobra on the side of the road for a while...
Keith Tanner said:And with working AC and power steering and a cooling system that won't overheat on a 40 mph cruise through the mountains. We did a comparison test with a "real" continuation Shelby a few years back, and had to abandon the Cobra on the side of the road for a while...
Friend that runs a miata shop here autocrosses an exocet, and another local has a former Factory Five Challenge series car. The friend swapped cars with the Cobra for a few autox runs and said the cobra was trying to kill you, power on oversteer, lift off oversteer, not enough tire with the max tire size you can run on a "stock" body cobra. The cobra owner said he was amazed that the exocet just went where you wanted it to. I imagine a v8 miata would handle slightly better than a cobra.
That is a great color
Keith Tanner said:And with working AC and power steering and a cooling system that won't overheat on a 40 mph cruise through the mountains. We did a comparison test with a "real" continuation Shelby a few years back, and had to abandon the Cobra on the side of the road for a while...
This is exactly why I think I will be calling FM often in 2021..... Heck I could go all in now but I want to do it with cash.
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