70’s MGB GT Prices and Restoration Costs?
Discussion
All, this is copied from a previous thread about ideas for a project car for my son (16). Since it’s now focussed on an MG, I thought I might get more responses from a different thread:
Completely out of the blue, a family friend emailed me last week saying that someone they knew had died, and had some cars they’d intended to restore, but never got around to it. One was an early 70’s MGB GT. They asked if I’d be interested because they knew I completely rebuilt my Dad’s ‘62 MGB back in the late ‘80’s (still got it).
I guess a GT project ticks a lot of boxes - fairly practical, very simple, good spares availability (I think), easy to tweak in terms of power increase and handling etc, and a decent following/market should we end up getting rid. I also know them inside-out.
I’ve not really followed car prices for decades Question is, how much? Obviously it depends on condition, but does anyone know the ballpark price range for this year of GT, in terms of condition:
1: Non-roadworthy - “Basket case”
2: Non-roadworthy and needs weld repair (e.g. sills)
3: Roadworthy - “Fair - Rolling restoration”
4: Roadworthy - “Good”
5: Roadworthy - “Excellent”
6: Roadworthy - “Concours”
Also, are spares still easily available at reasonable price?
Thanks!
Completely out of the blue, a family friend emailed me last week saying that someone they knew had died, and had some cars they’d intended to restore, but never got around to it. One was an early 70’s MGB GT. They asked if I’d be interested because they knew I completely rebuilt my Dad’s ‘62 MGB back in the late ‘80’s (still got it).
I guess a GT project ticks a lot of boxes - fairly practical, very simple, good spares availability (I think), easy to tweak in terms of power increase and handling etc, and a decent following/market should we end up getting rid. I also know them inside-out.
I’ve not really followed car prices for decades Question is, how much? Obviously it depends on condition, but does anyone know the ballpark price range for this year of GT, in terms of condition:
1: Non-roadworthy - “Basket case”
2: Non-roadworthy and needs weld repair (e.g. sills)
3: Roadworthy - “Fair - Rolling restoration”
4: Roadworthy - “Good”
5: Roadworthy - “Excellent”
6: Roadworthy - “Concours”
Also, are spares still easily available at reasonable price?
Thanks!
Parts are generally widely available and quite reasonably priced, but if it needs front wings, they're quite spiteful as new repro parts (as in £700 ish each).
Prices seem to vary wildly. I paid 8k for my RB to Chrome converted and 'restored' GT a couple of years ago. Doubt I'd get that back now (not least as I've put an older style badge on the back, which seems to make the MG Owners Club members froth quite nicely...)
Prices seem to vary wildly. I paid 8k for my RB to Chrome converted and 'restored' GT a couple of years ago. Doubt I'd get that back now (not least as I've put an older style badge on the back, which seems to make the MG Owners Club members froth quite nicely...)
Does he really want a 50 year old MGB?
What's he going to drive when he's learning to drive and then when he passes his test?
Would he be better learning the Highway Code and saving cash for driving lessons while tuning up an old petrol mower?
He won't learn much that's relevant to modern cars working on an MGB.
Restoring old cars tends to end up as a money pit.
If you/he want a nice old MGB, why not just buy one in decent condition? He can still tinker about with it to his heart's content and it will probably work out cheaper without the risk of getting stuck with a non-runner on the drive.
What's he going to drive when he's learning to drive and then when he passes his test?
Would he be better learning the Highway Code and saving cash for driving lessons while tuning up an old petrol mower?
He won't learn much that's relevant to modern cars working on an MGB.
Restoring old cars tends to end up as a money pit.
If you/he want a nice old MGB, why not just buy one in decent condition? He can still tinker about with it to his heart's content and it will probably work out cheaper without the risk of getting stuck with a non-runner on the drive.
Panamax said:
Does he really want a 50 year old MGB?
What's he going to drive when he's learning to drive and then when he passes his test?
Would he be better learning the Highway Code and saving cash for driving lessons while tuning up an old petrol mower?
He won't learn much that's relevant to modern cars working on an MGB.
Restoring old cars tends to end up as a money pit.
If you/he want a nice old MGB, why not just buy one in decent condition? He can still tinker about with it to his heart's content and it will probably work out cheaper without the risk of getting stuck with a non-runner on the drive.
This thread makes more sense in the context of this one: What's he going to drive when he's learning to drive and then when he passes his test?
Would he be better learning the Highway Code and saving cash for driving lessons while tuning up an old petrol mower?
He won't learn much that's relevant to modern cars working on an MGB.
Restoring old cars tends to end up as a money pit.
If you/he want a nice old MGB, why not just buy one in decent condition? He can still tinker about with it to his heart's content and it will probably work out cheaper without the risk of getting stuck with a non-runner on the drive.
https://www.pistonheads.com/gassing/topic.asp?h=0&...
I was going to suggest a heritage shell, as these are one of the few cars where you get to (legally) keep the original identity.
But they aren’t cheap… https://www.bmh-ltd.com/body-shells/mgb-gt-body-sh...
But they aren’t cheap… https://www.bmh-ltd.com/body-shells/mgb-gt-body-sh...
My then 16 year old son and I restored a 1971 B for him.
He is now nearly 21 and still has it, will never be sold. Cheap to insure, great fun and now upgraded so much that it handles more like a Caterham than the bus it started off being.
We spent £5k on it and probably over 4 years have spent another £5k on bits and pieces. Didn’t have to paint it but refurbed engine, replaced gearbox, replaced all suspension, re-did interior (didn’t re-trim seats), replaced radiator, oil cooler etc.
It is now 100% reliable, he drove it to Scotland and back last summer with no issues (1,600 mile round trip), was a trifle deaf afterwards mind you.
Parts easy.
He is now nearly 21 and still has it, will never be sold. Cheap to insure, great fun and now upgraded so much that it handles more like a Caterham than the bus it started off being.
We spent £5k on it and probably over 4 years have spent another £5k on bits and pieces. Didn’t have to paint it but refurbed engine, replaced gearbox, replaced all suspension, re-did interior (didn’t re-trim seats), replaced radiator, oil cooler etc.
It is now 100% reliable, he drove it to Scotland and back last summer with no issues (1,600 mile round trip), was a trifle deaf afterwards mind you.
Parts easy.
there's a seller on cars and classics who sells 'new' MGB cars also GT and or V8 models, he has more ads with pictures of ready cars as examples, they also build them on new body's heritage, lovely to see.
not cheap of course, but not expensive Eight er if you see what say restomod or renewed MGB's can cost.
not cheap of course, but not expensive Eight er if you see what say restomod or renewed MGB's can cost.
ReformedPistonhead said:
My then 16 year old son and I restored a 1971 B for him.
He is now nearly 21 and still has it, will never be sold. Cheap to insure, great fun and now upgraded so much that it handles more like a Caterham than the bus it started off being.
We spent £5k on it and probably over 4 years have spent another £5k on bits and pieces. Didn’t have to paint it but refurbed engine, replaced gearbox, replaced all suspension, re-did interior (didn’t re-trim seats), replaced radiator, oil cooler etc.
It is now 100% reliable, he drove it to Scotland and back last summer with no issues (1,600 mile round trip), was a trifle deaf afterwards mind you.
Parts easy.
That's kind of what I wanted to hear!He is now nearly 21 and still has it, will never be sold. Cheap to insure, great fun and now upgraded so much that it handles more like a Caterham than the bus it started off being.
We spent £5k on it and probably over 4 years have spent another £5k on bits and pieces. Didn’t have to paint it but refurbed engine, replaced gearbox, replaced all suspension, re-did interior (didn’t re-trim seats), replaced radiator, oil cooler etc.
It is now 100% reliable, he drove it to Scotland and back last summer with no issues (1,600 mile round trip), was a trifle deaf afterwards mind you.
Parts easy.
So 5 years ago, it was £5k for what sounds like a rust-free runner? I'm assuming that if you've upgraded it to the extent you say, most of the additional £5k would have gone on upgrades?
Red Firecracker said:
Parts are generally widely available and quite reasonably priced, but if it needs front wings, they're quite spiteful as new repro parts (as in £700 ish each).
Prices seem to vary wildly. I paid 8k for my RB to Chrome converted and 'restored' GT a couple of years ago. Doubt I'd get that back now (not least as I've put an older style badge on the back, which seems to make the MG Owners Club members froth quite nicely...)
Thanks RF. We're not bothered about originality - been there, done that, and wish more money had been spent on making it drive nicely than chasing originality.Prices seem to vary wildly. I paid 8k for my RB to Chrome converted and 'restored' GT a couple of years ago. Doubt I'd get that back now (not least as I've put an older style badge on the back, which seems to make the MG Owners Club members froth quite nicely...)
Panamax said:
Does he really want a 50 year old MGB?
What's he going to drive when he's learning to drive and then when he passes his test?
Would he be better learning the Highway Code and saving cash for driving lessons while tuning up an old petrol mower?
He won't learn much that's relevant to modern cars working on an MGB.
Restoring old cars tends to end up as a money pit.
If you/he want a nice old MGB, why not just buy one in decent condition? He can still tinker about with it to his heart's content and it will probably work out cheaper without the risk of getting stuck with a non-runner on the drive.
It's just a car we want to work on together, to take from non-roadworthy, to roadworthy, or at least to improve its condition. I started with lawnmowers at a young age, and my MGB when I was 18. There's a huge difference in satisfaction between using a lawnmower you've restored, and driving a car you've restored. Obviously there's a time and cost difference, but it is what it is.What's he going to drive when he's learning to drive and then when he passes his test?
Would he be better learning the Highway Code and saving cash for driving lessons while tuning up an old petrol mower?
He won't learn much that's relevant to modern cars working on an MGB.
Restoring old cars tends to end up as a money pit.
If you/he want a nice old MGB, why not just buy one in decent condition? He can still tinker about with it to his heart's content and it will probably work out cheaper without the risk of getting stuck with a non-runner on the drive.
I know what's involved in restoring cars from the ground-up, having done two, plus on of those was an MGB, so it's unlikely to be left on the drive.
My remaining concern is one of safety in the event of a crash, but it's unlikely to be a daily driver, so the risk is reduced. End of the day we could sell it, and depending on how accurately we evaluate it initially, and forecast costs, we wouldn't lose too much either way.
Yertis said:
Panamax said:
Does he really want a 50 year old MGB?
What's he going to drive when he's learning to drive and then when he passes his test?
Would he be better learning the Highway Code and saving cash for driving lessons while tuning up an old petrol mower?
He won't learn much that's relevant to modern cars working on an MGB.
Restoring old cars tends to end up as a money pit.
If you/he want a nice old MGB, why not just buy one in decent condition? He can still tinker about with it to his heart's content and it will probably work out cheaper without the risk of getting stuck with a non-runner on the drive.
This thread makes more sense in the context of this one: What's he going to drive when he's learning to drive and then when he passes his test?
Would he be better learning the Highway Code and saving cash for driving lessons while tuning up an old petrol mower?
He won't learn much that's relevant to modern cars working on an MGB.
Restoring old cars tends to end up as a money pit.
If you/he want a nice old MGB, why not just buy one in decent condition? He can still tinker about with it to his heart's content and it will probably work out cheaper without the risk of getting stuck with a non-runner on the drive.
https://www.pistonheads.com/gassing/topic.asp?h=0&...
Hol said:
I was going to suggest a heritage shell, as these are one of the few cars where you get to (legally) keep the original identity.
But they aren’t cheap… https://www.bmh-ltd.com/body-shells/mgb-gt-body-sh...
Thanks, but that's off the table due to cost.But they aren’t cheap… https://www.bmh-ltd.com/body-shells/mgb-gt-body-sh...
Chap and his lad not far from us are doing something similar, but on a bit newer car - Volvo 360GLX (Or GLE, one of them anyways). 1982 I think it is, they've made a really good job of it so far, i'm guessing going down the "unusual retro 80's rides" path.
Good luck with whatever you choose, enjoy the tinkering time!
Good luck with whatever you choose, enjoy the tinkering time!
A thought: while I admire the idea of bringing youngsters into the hobby (and intend to do something similar when my oldest reaches 17 later this year), I'd urge a degree of caution regarding upgrades and modifications to older cars when it comes to insuring them.
I recall from the OP's other thread that there isn't necessarily a requirement for this to be a road car, but if it is then insuring even something like a BGT with modifications will surely be a financial stretch for a youngster.
Contrary to popular belief the MGB is quite capable of keeping up with traffic in standard, grit-your-teeth-and-rev-it-to-5500rpm guise.
I recall from the OP's other thread that there isn't necessarily a requirement for this to be a road car, but if it is then insuring even something like a BGT with modifications will surely be a financial stretch for a youngster.
Contrary to popular belief the MGB is quite capable of keeping up with traffic in standard, grit-your-teeth-and-rev-it-to-5500rpm guise.
Turbobanana said:
A thought: while I admire the idea of bringing youngsters into the hobby (and intend to do something similar when my oldest reaches 17 later this year), I'd urge a degree of caution regarding upgrades and modifications to older cars when it comes to insuring them.
I recall from the OP's other thread that there isn't necessarily a requirement for this to be a road car, but if it is then insuring even something like a BGT with modifications will surely be a financial stretch for a youngster.
Contrary to popular belief the MGB is quite capable of keeping up with traffic in standard, grit-your-teeth-and-rev-it-to-5500rpm guise.
I’d be considering an Econotune head and appropriate cam, plus engine balancing.I recall from the OP's other thread that there isn't necessarily a requirement for this to be a road car, but if it is then insuring even something like a BGT with modifications will surely be a financial stretch for a youngster.
Contrary to popular belief the MGB is quite capable of keeping up with traffic in standard, grit-your-teeth-and-rev-it-to-5500rpm guise.
My ‘62 3-bearing engine and 3-synchro box isn’t brilliant on the motorway, but I expect a mildly tweaked 5-bearing and o/d gearbox would be pretty ok.
Insurance might be an issue, but assuming he keeps the car, then at some point it should be do-able. I can always drive it I guess.
dr_gn said:
That's kind of what I wanted to hear!
So 5 years ago, it was £5k for what sounds like a rust-free runner? I'm assuming that if you've upgraded it to the extent you say, most of the additional £5k would have gone on upgrades?
Yes. We could have not changed much aside from wear and tear things. But the gearbox was loose so we replaced (£1,300), the clutch, all brakes etc were probably another £600 and the suspension was £1,800 I think as we upgraded to a front line system. So 5 years ago, it was £5k for what sounds like a rust-free runner? I'm assuming that if you've upgraded it to the extent you say, most of the additional £5k would have gone on upgrades?
We both learned so much doing it and really bonded more over it.
Happy to help if you have any questions.
dr_gn said:
Turbobanana said:
A thought: while I admire the idea of bringing youngsters into the hobby (and intend to do something similar when my oldest reaches 17 later this year), I'd urge a degree of caution regarding upgrades and modifications to older cars when it comes to insuring them.
I recall from the OP's other thread that there isn't necessarily a requirement for this to be a road car, but if it is then insuring even something like a BGT with modifications will surely be a financial stretch for a youngster.
Contrary to popular belief the MGB is quite capable of keeping up with traffic in standard, grit-your-teeth-and-rev-it-to-5500rpm guise.
I’d be considering an Econotune head and appropriate cam, plus engine balancing.I recall from the OP's other thread that there isn't necessarily a requirement for this to be a road car, but if it is then insuring even something like a BGT with modifications will surely be a financial stretch for a youngster.
Contrary to popular belief the MGB is quite capable of keeping up with traffic in standard, grit-your-teeth-and-rev-it-to-5500rpm guise.
My ‘62 3-bearing engine and 3-synchro box isn’t brilliant on the motorway, but I expect a mildly tweaked 5-bearing and o/d gearbox would be pretty ok.
Insurance might be an issue, but assuming he keeps the car, then at some point it should be do-able. I can always drive it I guess.
What a great son/father project, cars never interested my Dad.
Riley Blue said:
dr_gn said:
Turbobanana said:
A thought: while I admire the idea of bringing youngsters into the hobby (and intend to do something similar when my oldest reaches 17 later this year), I'd urge a degree of caution regarding upgrades and modifications to older cars when it comes to insuring them.
I recall from the OP's other thread that there isn't necessarily a requirement for this to be a road car, but if it is then insuring even something like a BGT with modifications will surely be a financial stretch for a youngster.
Contrary to popular belief the MGB is quite capable of keeping up with traffic in standard, grit-your-teeth-and-rev-it-to-5500rpm guise.
I’d be considering an Econotune head and appropriate cam, plus engine balancing.I recall from the OP's other thread that there isn't necessarily a requirement for this to be a road car, but if it is then insuring even something like a BGT with modifications will surely be a financial stretch for a youngster.
Contrary to popular belief the MGB is quite capable of keeping up with traffic in standard, grit-your-teeth-and-rev-it-to-5500rpm guise.
My ‘62 3-bearing engine and 3-synchro box isn’t brilliant on the motorway, but I expect a mildly tweaked 5-bearing and o/d gearbox would be pretty ok.
Insurance might be an issue, but assuming he keeps the car, then at some point it should be do-able. I can always drive it I guess.
What a great son/father project, cars never interested my Dad.
All modifications declared. First year was £900, second year was £450, this year was £550, in his name. He also blew all his savings and a 50% loan from me on a £25k V8 Vantage 3 months ago (which is is paying me back with 50% of his take home pay each month), his insurance on that in his name, no no claims (as it is in use on the MGB) is £1,200.
Even though he has a V8 Vantage to drive around in he still takes his MGB half the time. Today he is off to remove the MGB’s rear back box as he is convinced that “straight piped” it will sound better. That experiment will last a few minutes I am sure….
ReformedPistonhead said:
Riley Blue said:
dr_gn said:
Turbobanana said:
A thought: while I admire the idea of bringing youngsters into the hobby (and intend to do something similar when my oldest reaches 17 later this year), I'd urge a degree of caution regarding upgrades and modifications to older cars when it comes to insuring them.
I recall from the OP's other thread that there isn't necessarily a requirement for this to be a road car, but if it is then insuring even something like a BGT with modifications will surely be a financial stretch for a youngster.
Contrary to popular belief the MGB is quite capable of keeping up with traffic in standard, grit-your-teeth-and-rev-it-to-5500rpm guise.
I’d be considering an Econotune head and appropriate cam, plus engine balancing.I recall from the OP's other thread that there isn't necessarily a requirement for this to be a road car, but if it is then insuring even something like a BGT with modifications will surely be a financial stretch for a youngster.
Contrary to popular belief the MGB is quite capable of keeping up with traffic in standard, grit-your-teeth-and-rev-it-to-5500rpm guise.
My ‘62 3-bearing engine and 3-synchro box isn’t brilliant on the motorway, but I expect a mildly tweaked 5-bearing and o/d gearbox would be pretty ok.
Insurance might be an issue, but assuming he keeps the car, then at some point it should be do-able. I can always drive it I guess.
What a great son/father project, cars never interested my Dad.
All modifications declared. First year was £900, second year was £450, this year was £550, in his name. He also blew all his savings and a 50% loan from me on a £25k V8 Vantage 3 months ago (which is is paying me back with 50% of his take home pay each month), his insurance on that in his name, no no claims (as it is in use on the MGB) is £1,200.
Even though he has a V8 Vantage to drive around in he still takes his MGB half the time. Today he is off to remove the MGB’s rear back box as he is convinced that “straight piped” it will sound better. That experiment will last a few minutes I am sure….
I guess these days you also save on Tax on a classic car, so that offests insurance cost a bit.
Riley Blue said:
dr_gn said:
Turbobanana said:
A thought: while I admire the idea of bringing youngsters into the hobby (and intend to do something similar when my oldest reaches 17 later this year), I'd urge a degree of caution regarding upgrades and modifications to older cars when it comes to insuring them.
I recall from the OP's other thread that there isn't necessarily a requirement for this to be a road car, but if it is then insuring even something like a BGT with modifications will surely be a financial stretch for a youngster.
Contrary to popular belief the MGB is quite capable of keeping up with traffic in standard, grit-your-teeth-and-rev-it-to-5500rpm guise.
I’d be considering an Econotune head and appropriate cam, plus engine balancing.I recall from the OP's other thread that there isn't necessarily a requirement for this to be a road car, but if it is then insuring even something like a BGT with modifications will surely be a financial stretch for a youngster.
Contrary to popular belief the MGB is quite capable of keeping up with traffic in standard, grit-your-teeth-and-rev-it-to-5500rpm guise.
My ‘62 3-bearing engine and 3-synchro box isn’t brilliant on the motorway, but I expect a mildly tweaked 5-bearing and o/d gearbox would be pretty ok.
Insurance might be an issue, but assuming he keeps the car, then at some point it should be do-able. I can always drive it I guess.
What a great son/father project, cars never interested my Dad.
It's a great bonding thing to do - a day working on the car, then having a chat about it over tea, and pouring over spares catalogues. happy days.
As a side benefit - I am absolutely sure that as a teenager, having a car rebuild on my CV at that age helped me not only with university, but getting subsequent engineering jobs. You need to stand out on a CV, and building a car shows you have a genuine interest in engineering, and probably have a greater understand of why things are designed the way they are.
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