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Chicagoland MG Club: Driveline
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  Chicagoland MG Club:Driveline
Left hand drive The Steering Column
From your Co-chairmen
Jim Evans
Jim Evans'
Left Hand Drive

Imagine that you tuned in the network news tonight and found that the sports reporter skipped over the Bears, Bulls, Cubs, and Sox in order to deliver a piece on your local high school team. What would you think? You might ask: “What is going on here? Why is he covering these guys instead of the major leagues?” You might also ask that question if you have been following the collector car auction reports for the last few months and have noticed the presence of (formerly) lowly MG models along side the GTO’s, Roadrunners, Corvettes, and other high priced cars usually getting exclusive coverage. What, indeed is going on here? And are those reported prices really true?
If you have followed the collector car market for any period of time, and especially if you have done so with some cynicism, you would probably agree that: 1) some car values escalate way above common sense; 2) some buyers are really not enthusiasts but investors who buy only in the hope of a price rise; and 3) that this combination has lead to some interesting history in the collector car market over the last few years. And what does that have to do with us? Well, after years of neglect, it seems that our MG’s and other British cars are now starting to show up at these auctions and they are starting to draw prices that most of us wouldn’t expect.
Some examples: 1966 MGB $26,000 rated average condition (Barrett-Jackson, 1/07), 1957 MGA $19,500 average condition (King Auction Atlantic City 2/07), 1960 MGA $32,500 top condition (RM, Phoenix, 1/07), 1977 MGB $11,000 rated above average (RM, Novi, 4/07), 1967 MGB $22,000 and 1961 MGA $24,750 both rated above average condition (Russo & Steele, Monterey, 9/06). And how about this: 1975 Midget seen at swap meet and featured as a good car to own in April 2007 Hemmings? And did you know that Hemmings Magazine has selected a rubber bumper MGB to restore and sell as their company charity project this year? Wouldn’t you have expected a Mustang or Model A? That project should generate some further publicity for MG’s as the publication features progress on this car in their upcoming issues this year.
So maybe our cars – for better or worse – have now started to come to the attention of a wider audience than in the past and are beginning to experience a rise in market value. While it’s thrilling to see news of a $26,000 MGB the downside is that those kind of prices may impact any of us who need to repair or replace our existing cars. Since driving season has arrived and our cars are now back out of hibernation, it might make sense to check your coverage with your insurance company, in light of firm or increasing prices for our MG’s, to make sure that you could replace your car if you needed to.

Safety Fast!   Jim Evans

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