ERA 1059

Spotted any ERA Mini Turbos or parts for sale anywhere?
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ERA 1059

Post by prop » Sun Jul 06, 2014 11:26 am

Is someone having a laugh?
I am re insuring my ERA and the value is difficult to work out for agreed value.
If I don't get agreed value then market value is used. I assume market value is what vehicles are selling for and not advertised. I know one went recently at auction for about £14K
Surely £40K is a joke?
If there are only vehicles available at £40K, then I suppose that is the market value. ... SS:GB:1120

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Joined: Mon Sep 24, 2012 8:50 am
Location: Tadley, Hampshire, UK

Re: ERA 1059

Post by robr1006 » Mon Jul 07, 2014 10:40 am

It is an interesting question what should the insurance valuation for an ERA be. As you have stated in the event of a total loss you are entitled to receive the retail value of an equivalent car. In the absence of any cars being available they then fall back on open market evidence such as the car that sold at Bonhams for I think £15350 including buyers premium. But then this was an unrestored 4500 mile example!! (But it did have a silver roof and bonnet stripes)

This car is the Cox car which has been for sale for 10 years or so, part of a former Rover Dealers private collection of unregistered special Minis. I remember speaking to the garage about it 4 years ago when they wanted £20,000 for it. I believe it was only registered in 1992 because otherwise it would be subject to testing as a later car or something like that.

So now it has arrived at GC Motors who in their time have probably sold more ERAs than any other British garage. It is interesting that they have failed to make the differentiation between the Jap and much rarer British version.

It is for GC Motors to decide how much to market their car for - and they do tend to price them high! So much so that they often remain unsold for years - My own car R1006 is in such good condition because they had it for sale for 11 years! So on that basis eventually inflation will ensure that the original price they offer their cars at will be proved correct.

My personal opinion is that ERAs are still grossly undervalued in comparison with Mini Coopers.

The rarest Mini Cooper is the Mk 3 produced for just 18 month, about 1700 were made and they fetch £10,000 unrestored matching numbers and £20,000 plus for a good restored example. You could obtain most of the parts from stock to make one - can you imagine trying to do that with an ERA interior and body kit??

So good luck GC Motors - I hope you sell it in this the 25th Anniversary year (Which they also failed to mention!!)

The market will eventually decide the answer!

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Re: ERA 1059

Post by paul » Mon Jul 07, 2014 9:52 pm

I've sold 3 ! For valuation I think you would be hard pressed to find a very very nice example for less than £10,000 now. Sure you may get one £6,000 but you will be spending on it to bring it up to that level. £15,000 plus for excellent very low Miles seems reasonable.

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