Author Topic: Peel P50 for sale!  (Read 24032 times)

Jim Janecek

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Peel P50 for sale!
« on: November 02, 2009, 09:14:18 PM »
someone named "Mike" in the UK allegedly has a Peel P50 for sale.
Been in storage for many years.

He wants £50,000 for it.
says he turned down an offer for £40,000 last year.

anyone else heard this?

Stuart Cyphus

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Re: Peel P50 for sale!
« Reply #1 on: November 02, 2009, 10:07:09 PM »
 Blob! I thought it was just Nobel's & Frisky's you had in that back garden of yours!!!!!   :o   ;)   ;D
1963 Wrigley Electric Chair. A different Peel P50

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Peelpower

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Re: Peel P50 for sale!
« Reply #2 on: November 02, 2009, 11:05:58 PM »
someone named "Mike" in the UK allegedly has a Peel P50 for sale.
Been in storage for many years.

He wants £50,000 for it.
says he turned down an offer for £40,000 last year.

anyone else heard this?

Would like to get further informations about this myth !

Jim Janecek

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Re: Peel P50 for sale!
« Reply #3 on: November 02, 2009, 11:27:57 PM »
Would like to get further informations about this myth !

The part about him asking £50,000 is not a myth
The part about having a previous offer of £40,000 is the myth as far as I am concerned.

unfortunately I do not know the serial number of the vehicle , but he did say at one point that the car was "definitely" one of the "early" versions as the windscreen wiper is on the bottom and not the top as later models.

P50

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Re: Peel P50 for sale!
« Reply #4 on: November 03, 2009, 07:28:42 AM »
Would like to get further informations about this myth !

The part about him asking £50,000 is not a myth
The part about having a previous offer of £40,000 is the myth as far as I am concerned.

unfortunately I do not know the serial number of the vehicle , but he did say at one point that the car was "definitely" one of the "early" versions as the windscreen wiper is on the bottom and not the top as later models.


The wiper statement is utter nonsense.  All P50's had their wipers roof mounted.

Although values are an entirely different thing alltogether.  The Peel market is non-existent although I know of a few that have changed hands by private treaty.

Why would anyone sell their car? when it seems..

1, you'll never have the chance to but another. 2, prices appear to continue to rise.



You can't "wish" values down and dismiss them because they were cheap once.  One has to look at other Classic Cars to see massive rises i.e.. 2.7 RS 911   


Supply and demand.  I know of no other machine that has such little supply as Peel..
I suppose it's the Top Gear effect.
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Bob Purton

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Re: Peel P50 for sale!
« Reply #5 on: November 03, 2009, 09:39:27 AM »
But do the cars really sell for these prices? I have heard of TG500 selling for 30-40K, it seams every time the subject of values comes up someone doubles them! Is this a matter of owners trying to hype up the value of their cars? Lets have some proof , examples etc.

blob

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Re: Peel P50 for sale!
« Reply #6 on: November 03, 2009, 10:51:37 AM »
Quote
Blob! I thought it was just Nobel's & Frisky's you had in that back garden of yours!!!!!

Yes it's me, who wants to give me 50K ;)... as for values of P50's, when Top Gear's Clarkson announced the current price he hiked it up, but then he’s told to say whatever is on the autocue. Then those not in the know (i.e. the general public) start saying, "ooh! I'd love one, but a genuine example’s £40,000" and owners quiet rightly go along with it. Values rise as a result of misinformation and when some nutter pays well above and beyond it’s actual value because he hasn’t a clue, it's like the old Chinese whisper effect.

blob

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Re: Peel P50 for sale!
« Reply #7 on: November 03, 2009, 12:45:48 PM »
Quote
Damien Hurst sells dead animals in formaldehyde for millions - I would rather own a Peel Trident

Well it's about time they ended up as art, as they're pretty useless as cars.  ;D

P50

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Re: Peel P50 for sale!
« Reply #8 on: November 03, 2009, 01:38:07 PM »
£35,000 to £40,000 seems to be the current sales value for both the Peel P50s and Tridents - if you can find one. Most deals take place by private treaty, not on the open market so it is difficult to give hard statistics. £50,000 may appear a little steep, but don't forget  Bruce Weiner sold  a Peel Trident at Christies (12 years ago) in 1997 for £33,781.25p (£25,000 hammer price +£3,750 commission + £5,031.25p VAT) At the time that was about the same price as a Tg500 - but now a decent Tg500 sells for  £80,000 to £100,000 
Its all down to supply and demand.  I guess at £50,000 it will get snapped up.

Are TG's worth that much? With the imploded pound I suspect they are. 80k Euros was not so long ago 50k sterling. Which was TG money as we all know. Why sell cheap? Would any owner?!

Indeed a lot of nutters abound.  But market forces drive prices.  Half a cow in a fish tank aint worth £1m! Or is it? Who says it's not?

Mr Hirst can make more crap art but only a finite amount of Peels exist.  I'll keep mine ta very much as enjoy owning them more than the cash in the bank making .5% P.A

Peels are crap cars. But charming odd crap cars. Let's not forget that...   



     
"Men of worth act like men of worth, and men of genius, who produce
things beautiful and excellent, shine forth far better when other people
praise them than when they boast so confidently of their own achievements."
-Benvenuto Cellini

Bob Purton

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Re: Peel P50 for sale!
« Reply #9 on: November 03, 2009, 02:03:40 PM »
Well, come on then, lets have some examples of TG's recently sold for £100k.

Jim Janecek

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Re: Peel P50 for sale!
« Reply #10 on: November 03, 2009, 02:45:27 PM »
But do the cars really sell for these prices? I have heard of TG500 selling for 30-40K, it seams every time the subject of values comes up someone doubles them! Is this a matter of owners trying to hype up the value of their cars? Lets have some proof , examples etc.


very true!  I know someone who recently purchased a Tg that is now privately telling people he paid DOUBLE what he actually paid.
and since there is no public record of the sale, few people know the truth.

I also think the "Top Gear effect" as mentioned has something to do with this as well.
Just saying "they go for £40,000" is not enough to make someone actually pay that.
I am working on a story right now about a rather rare microcar (a one off, so I guess it is rare) that the owner had "professionally appraised".
It was appraised at 300,000 Euro.
Now, perhaps for insurance purposes you could do that, but to sell it at that price?  No.
However, they tried to sell it for 300,000 Euros.   No takers, no offers.
They then tried to have a high-end consignment house sell it for them (the consignment house assured them the vehicle was worth 300,000 euros)
No takers.
They still own the car as far as I know and have dropped the price considerably.  (almost half now I think).

I think the actual market value of the thing is around 30,000 Euro.  But they have had not one, but TWO "trusted" authorities tell them that is was "worth" 10X that amount.
So they don't want to get sell too cheap of course!  But they will be stuck with the car now and when they die it will be sold at their estate sale for the actual market value.

Jim Janecek

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Re: Peel P50 for sale!
« Reply #11 on: November 03, 2009, 02:52:25 PM »

One of the ex Werner Hafner Tg500s sold for 100,000 Euros in Germany this year (£92,000) and a well known red  UK Tg needing restoration  for 62K 
Wasn't Bruce was asking 200,000 US$ for a yellow one last year. (£122,000)


Do you have anything to back up those prices?  Seriously.
I know what the asking and sale price was on the yellow Tg and it was not $200,000
Every time someone mentions that car, the price seems to go up.

The actual price could be easily ascertained by anyone but few people bothered.  It would appear that speculation is more interesting than facts.

Stuart Cyphus

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Re: Peel P50 for sale!
« Reply #12 on: November 03, 2009, 03:18:10 PM »

I am working on a story right now about a rather rare microcar (a one off, so I guess it is rare) that the owner had "professionally appraised".
It was appraised at 300,000 Euro.
Now, perhaps for insurance purposes you could do that, but to sell it at that price?  No.
However, they tried to sell it for 300,000 Euros.   No takers, no offers.
They then tried to have a high-end consignment house sell it for them (the consignment house assured them the vehicle was worth 300,000 euros)
No takers.
They still own the car as far as I know and have dropped the price considerably.  (almost half now I think).


 That wouldn't be the Likeness Monster would it be?  That story has that thing's owner's hallmarks all over it....   ;)
1963 Wrigley Electric Chair. A different Peel P50

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Jim Janecek

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Re: Peel P50 for sale!
« Reply #13 on: November 03, 2009, 03:55:29 PM »

The recent Tg500 sale  prices are common knowledge among the Messerschmitt owners club mafia.
What proof do you need - copies of the receipts?

well, given that people are prone to exaggeration and speculation and I have seen this first hand, over and over, I have to say that these prices you have quoted are probably wildly inaccurate.
At least one of them is WAY off, so if the information on the other 2 sales was obtained in the same manner, I would have to say that there is no basis in fact for any of the prices you just quoted.
If the "Messerschmitt owner's club mafia" is saying that Bruce's Yellow Tg sold for $200,000 they are just flat out wrong.  For you to pass this on as "fact" is also wrong.
Did you know that it was also "common knowledge" that Messerschmitts were made from old aircraft parts?

Quote
The simple and common sense solution to end this "silly speculation" over Bruce's yellow Tg  would be to tell us what it sold for.

No, the simple way to end "speculation" is to stop "speculating" and passing on rumours of what you heard or what someone else "heard".
The details of the sale are not mine to disclose. Anyone could have easily found out the asking price at any time.

Quote
To my knowledge all potential buyers were asked to hand over  their credit card details  just to find out the asking price - no wonder it caused speculation.

That is sort of correct.  They did not have to pass over any "credit card details" they just had to put down a FULLY REFUNDABLE deposit of $1000.
All you had to do was put down the deposit, find out the asking price, then say "no thank you" and the deposit was immediately credited back to your account.
It was that simple.
But for some reason people kept trying to get the asking price without putting down the FULLY REFUNDABLE DEPOSIT.
A FULLY REFUNDABLE DEPOSIT from a credit card that costs you NOTHING but 5 extra minutes of time.
They were not interested in purchasing the vehicle.  They just wanted it's value so they could use that information elsewhere.

getting off Tiger speculations and back to Peel P50, which is what this thread was about....
all the above discussion (which is quite lively and entertaining) seems to back up my theory that this guy got his £40,000 "offer" from watching Top Gear and that there really is no buyer for the car at that price.
I could be wrong but right now I don't think so.


Trident

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Re: Peel P50 for sale!
« Reply #14 on: November 03, 2009, 06:47:40 PM »
 :)
« Last Edit: February 12, 2011, 12:04:43 AM by Trident »