Monday, 27 February 2012

Morgan Values

While I was at the dealers having the Morgan serviced I decided to have a word with Dave Randall in order to get some idea as to what the car was worth if I decided to sell it. It is a failing of mine, at least I'm told it is, that whatever large item I purchase, whether it be a car, boat or otherwise, I always like to keep a close track of current values, sort of suggesting that the pleasure I am deriving from it is really of no consequence and not part of the equation!

I was, on one occasion, given a real 'dressing down' by a fellow member of the Club for adopting this sort of attitude...." why would you ever want to do this, I never even consider anyone else owning my car, for goodness sake just get out there, use it and enjoy every minute, what the hell!"  Well it was roughly along those lines anyway and at the time I felt thoroughly ashamed, although as you will have noted, not sufficiently to change my attitude that mainly stems I think from the fact that my wife and I haven't got limitless amounts of dosh to throw at things!

There were two valuations I required, firstly an agreed valuation to present to my insurers and the second, the one I was most interested in, the market value.

What a totally pleasant surprise it was when the agreed valuation was no different from the one I was given when I first purchased the car 4 years ago, but more importantly, the market value was not greatly different from the original purchase price either. Over the four years of ownership, depreciation has been at the rate of only £700 to £900 annually! Just think of the first years depreciation on an equivalently priced executive saloon! 

Quite frankly, in raw terms, if I had placed the original sum that I paid for the car into a Building Society at the interest rates and inflation at the levels we've endured during the period, it's not been a bad 'investment' at all! That's how I see it, although I'm sure that probably the financially analytical mind of an accountant might possibly challenge my simple thought processes.

More importantly, and putting things into even greater perspective, just think of all the fun and fabulous journeys we have made in it, both in the UK and Europe, and our beautiful, quintessentially English, little sports car has been one of the best buys my wife and I have made. These pleasures cannot be quantified and I am indeed a happy man.

The Morgan stays in its garage and will continue to be enjoyed to the full.

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