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Author Topic: What is it Worth?  (Read 15333 times)
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tmerivale
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« Reply #15 on: Monday, 05 April, 2010, 04:02:52 AM »

what a champ, thanks mate
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CyCo
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« Reply #16 on: Monday, 05 April, 2010, 05:22:35 AM »

Going from those photos, with the new loom and the ea81 Scooby donk, I'd say around the $8,000 to $10,000. It may be even around the $12,000 as there's only so much photos can tell you (other than it appears to be a F4 with a Colleen Long Rear Valance).

Prices above that (the $20,000 + range), are if you can find the right buyer. And finding those is harder than finding a 'reek for sale that's on road.  
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Eureka? Youbetcha!   8]

cruetoone
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« Reply #17 on: Monday, 05 April, 2010, 09:30:09 AM »

no problem trev .. Wink i've put a pm in your inbox to... Cool
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ak0412
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« Reply #18 on: Monday, 05 April, 2010, 10:16:18 AM »

Hi All,

Thanks for your feedback.

I have added a few more photos

http://s767.photobucket.com/albums/xx320/ak0412/What%20is%20it%20Worth/

My dad is taking a more new photos shortly, so I will post some more in the next few days
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The Metalsmith
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« Reply #19 on: Monday, 05 April, 2010, 10:20:52 AM »

Tom,
         I thought I might expand on your original questioning a bit.

Quote
I am struggling a little bit to understand the sorts of values put on Eurekas on this list and in the classifieds?

I should firstly say that above all else I do not wish to cause offense. I am aware that this topic could cause ruffle some feathers. I have found this list to be a great resource & everyone on it to be very friendly and helpful, so please don't take this the wrong way.

The above car does look to be a good one, however I can't understand how $25,000 is a reasonable value?

As you are aware, a reek is it's own shape: it's not a direct replica of any other car. So while you might be able to make an AC Cobra replica for around 50 G's and have it maintain or even increase it's value over the following years, a reek is in another category.

Unfortunately, a reek is closely related to a VW so public perception will always focus on this. VW freaks are a completely different type of freak compared to your average petrolhead, just as we reek freaks differ from everyone.

So intially the prices of resold reeks plummeted like any other car off the showroom floor. Throw in factors like their assembly by questionable backyard mechanics and the fact they appeal to the few rather than the many and the prices would stay low.

Fast forward 25 years or so and public perception has changed somewhat. No longer the knuckle dragging V8 mentality ruling the roost. The JDM import scene has proved a good shape with loads of fibreglass can be cool, and more importantly, accepted.

Throw a couple of high quality reeks out there and you'd get respect, rather than abuse. I watched it change first hand over a few years at the Summernats with my reek. Low and behold, the prices of reeks start going up. And look, in the big picture we're all happy to have our pride and joy increase in value. It does mean the days of cheap reeks and replacement panels are going (or gone) but we'd all rather have it this way.

Having said this, it's early days and reek prices are still low compared to some of the other cars you've listed. Two things: (a) you get what you pay for: if the guy has reciepts for 20 G's of work he's going to want most of his money back on a sale, and (b) just like any car in the upper price range, it's going to need to be one of the better examples to be asking that money. For a reek, anything over about 18 gorillas is gotta be good.

I hope this has helped out a bit!

     Simon
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He's out there, somewhere, hoping to finish his reek before he's too old to drive it....
Agroeureka
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Why does every part need a modification or paint


« Reply #20 on: Monday, 05 April, 2010, 10:24:49 AM »

HI
Nice car 
Love the colour
Some of the mods are like mine

All the best (Wish i had the money)


Andrew
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"Just add the blower it will be fine" he said

Then all hell broke loose with large amounts smoke
tmerivale
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« Reply #21 on: Monday, 05 April, 2010, 10:44:24 AM »

tom another thing to take into consideration is the numbers on each car that had been produced, there was only something like 683 or 687 ever built. these are simliar number to the phase 3 gtho that go for now 3/4 mill and more, not to say that our cars will ever be worth that but i think you get my drift in that our cars were never mass produced. its also a piece of australian history that your buying.

to get back on topic, ak0412 this car looks immac!!! i wish your dad luck in selling it, but at the same time i hope he doesnt sell it because he will be kicking himself when it goes.
dont sell it too cheap! from its looks i would not be selling it for anything under 10, but id be chasing closer to the 15 mark maybe even more.
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ak0412
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« Reply #22 on: Monday, 05 April, 2010, 11:35:32 AM »

Another question...

is there a way to get the car "club" registered?

it gets a little expensive to keep paying rego of $600 per year and new batteries just to drive 50-150kms a year

I've seen one pic of a Eureka with Club plates.

My dad had it up for sale in 2000, but only had little interest... it had a RWC back then and has travelled less than 1000km since. No oil leaks, still serviced, to me... Immaculate

But he never knew this site existed, until I came across it a few months ago... Thus he didn't know there was an interest still in the car


Thanks for your help
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tmerivale
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« Reply #23 on: Monday, 05 April, 2010, 11:46:57 AM »

this has already been discussed a few months back so try this one. http://eurekacarclub.com.au/forum/index.php?topic=414.0 there is an easy way to justify the money... drive it more often Smiley sorry not trying to be too cheeky
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mrtomt
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« Reply #24 on: Monday, 05 April, 2010, 12:35:56 PM »

Hi Simon,

Thanks for your email. You have some interesting points that I agree with.

For the record I do know it is a unique car design. I have been aware of Eureka's since that unique cars ad in 1990, & also visited the factory in the same year.

BTW, just a bit of trivia... I have heard people comment that the car design is based on a Lamborghini Countach or Miura, & I Always thought the Ferrari 512BB was also an inspiration, but have a look at the Marcos Mantis XP... also a bit of an influence I think...

There are really two ways of looking at this I think... Is it a 'sellers market' or a 'buyers market'?

I get what you are saying about the guy who has sunk huge $$$ into his car & if he's going to sell it he's going to want it back, but that all depends on whether the buyer is trying to buy it off him, or if he is trying to sell it to a buyer.

Believe me I have sunk plenty of money into cars over the years & restored quite a few & you never get all of the money back. The 2nd unfortunate part about that is that the more a car does gain a following or a perceived value, the more the mechanics and parts vendors start charging mega $$$. I'm sure you have started/will start to see this more & more in the VW world.

Sorry to sound grim, & maybe I'm rambling a bit... I guess my concern is really the same as yours. I have a passion for these cars & want to see them survive. I like the idea of their values rising, & want to do the best job I can in building the best car I can.
I've been tallying up all of the likely jobs I will need to do, & I'm sure as you know, it gets expensive very quickly....

Anyhow, thanks for the replies to my question. It's all been very interesting.

Cheers,

Tom
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cruetoone
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« Reply #25 on: Monday, 05 April, 2010, 01:29:07 PM »

hey ak0412 ... what state are you i am sure some one would love to see it up close ...and do you know about the club registration plaque for your car ....http://www.eurekacarclub.com.au/page/register.htmhttp:// not sure if that will help with rego an help keep track of it after it's sold .. Smiley
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ak0412
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« Reply #26 on: Monday, 05 April, 2010, 10:55:26 PM »

The Car is in Rowville Victoria.

We have sent the club registration form off a couple of weeks ago, but i'm not sure when we get the plaque tho...

Thanks for your help

Regards

Adrian
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cruetoone
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« Reply #27 on: Tuesday, 06 April, 2010, 09:59:02 AM »

your welcome.. Wink Cool i like the added photo's in the photo bucket...  Cool Cool Cool Cool Cool
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StReek
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« Reply #28 on: Tuesday, 06 April, 2010, 02:30:02 PM »

I'm no expert, but I do have two Reeks in the garage, both are registered and both are on the road frequently (three of the four days this long weekend).  I don't anticipate offering either of them for sale in the near future, but if I did decide to part with one of them, I would be wanting well more than 12k for either of them and would lose no sleep in asking for more than that.  In fact, on this long weekend, I was asked 'What they were worth' and told an American Muscle Car owner and enthusiast that he would have to part with between 15 and 25k for one if he could find one for sale and he replied, 'Is that all, I would have thought they were worth more than that'.....

That's my two bobs worth on the subject.....

  S t R e e k   .  .      . 
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cruetoone
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« Reply #29 on: Tuesday, 06 April, 2010, 02:43:32 PM »

hey StReek ...
did he know it's a eureka an not a ferrari... Wink Smiley
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