It’s The Latte Latte Delta Tea Break 2018

[bauble]

Originally Posted by zefarelly

Likewise my 1200 deluxe Cortina, just over 20 000 miles on it now, original paint and I refuse to sell it, I know exactly what would happen to it if I ever did.

Darn it! Why did I let the Astra go? Foolish me.

[GORDON STREETER]

I used to make a few rapid Anglia's for mates in the 60s early 70s and one guy in particular brought a 3.8 E Type to use as well, I forget how much he paid for it but it was a bit of a "banger" and within a year it wanted a new clutch. He just left it outside for the next year and somebody offered him £200 for it and he took it !!!!!
However back then they didn't seem to have a good second hand value and I remember a low mileage immaculate one on the garage forecourt that I was working at hung around for ages with an £1100 price on it !

[Lancsbreaker]

Somewhat belated birthday Felicitations, Iain.

Sure I've told the tale before but back in the early 70s I bought a 66 Lotus Cortina (minus engine) from a mate after he'd blown it up (again) Actually swapped him for an Imp I'd just revived. Stuck a 1500GT engine in the LC and out to play.

Sometime later on the way home after running a rally on Anglesey I'd had to block off the rear brakes after a pipe burst, and ended up locking the brakes and crashing right through the town sign for Llanerchymeth into the stone wall behind. Recovered the car a week or so later and stripped the mechanicals out in parent's back yard and scrapped the rest......it was just an old Cortina.....

RIP EBV383D (sob)

[zefarelly]

At one end of the Cortina scale people are restoring shells which are way way past their prime, at the other end mint standard cars are being converted into racers. The upshot is original unmolested cars are extremely scarce now. Over 1m made and around 2000 left worldwide. I'm sure the same can be said for most mass produced working class cars. I bet survival rates for posher stuff is much higher.

[PeterMorley]

Originally Posted by Mike Harte

Depending on the investment house of choice, but it is sometimes more apt to say that your investment can plummet as well as fall.

Meanwhile the investment house/dealer/auction still take their cut when the "investment" is sold, so they don't really care whether the price is higher or lower than when they sold it.

[Mike Harte]

Originally Posted by PeterMorley

Meanwhile the investment house/dealer/auction still take their cut when the "investment" is sold, so they don't really care whether the price is higher or lower than when they sold it.

Not quite so, Peter. Most "middlemen" that you mention usually charge a fixed percentage fee regardless whether that is for purchase or sale, meaning that their cut is lesser the lower the sale price achieved.

This is one of the myriad reasons that there has been behind the consolidation within the life assurance industry. As returns on investments saw investment funds either stagnating or even losing value, so their fees and charges reduced. This left many companies unprofitable.

[PeterMorley]

Originally Posted by Mike Harte

Not quite so, Peter. Most "middlemen" that you mention usually charge a fixed percentage fee regardless whether that is for purchase or sale, meaning that their cut is lesser the lower the sale price achieved.

This is one of the myriad reasons that there has been behind the consolidation within the life assurance industry. As returns on investments saw investment funds either stagnating or even losing value, so their fees and charges reduced. This left many companies unprofitable.

Hence me saying they don't really care, unlike the investors they still profit from a loss.
OK their income is reduced if the price goes down, which will have an upsetting affect on their bonuses etc. but their suffering isn't the same as the (now poorer) people they advised/encouraged...

The race to the bottom on fees etc. usually ends up with some companies becoming unprofitable, the question is who ends up bailing them out.

[grantp]

Originally Posted by Mike Harte

Not quite so, Peter. Most "middlemen" that you mention usually charge a fixed percentage fee regardless whether that is for purchase or sale, meaning that their cut is lesser the lower the sale price achieved.

This is one of the myriad reasons that there has been behind the consolidation within the life assurance industry. As returns on investments saw investment funds either stagnating or even losing value, so their fees and charges reduced. This left many companies unprofitable.

Many investment pots too. At least compared to everyone's expectations when they were set up.

That said when my mother died and it came time to sell her house the Estate agent selected managed to talk a good talk but achieved absolutely zero results despite the property being in a desirable area and the market being reasonably buoyant at the time.

But it was 5 miles from their local office in a nearby town so perhaps not "on their map".

I placed it with the village Estate Agent and got an immediate bite and sale purely for the local convenience factor. The trouble was to try to judge whether the fact that the EA was also selling the buyer's apartment was a positive or negative thing.

On the one hand the buyer was unlikely to drop out. She had a business in the village and her daughter and family lived within 50 yds of my house.

On the negative side the EA had no reason to anything more than sit and wait whilst the lady's buyer dicked about for around 6 months failing to get his act together to complete the transaction despite having no property to sell. With interest rates as they were at the time and the costs of keeping the property insured, etc, that idiot's messing around cost me several thousand pounds and my buyer several months of aggravation. The market probably rose quite a lot during that time as well and my agreed price to sell had been based on the expectation of a quick and easy 3 person chain.

It would have been in the interest of an independent EA to discuss ways to speed up the process or adjust the price. But as my chap was gaining commission from both parties he had no real interest to do so and, of course, the client staying in the area was potentially far more useful to him than I would be.

I look at my few investments over the past decade and note that the values now are much what they were then (or less) and only those taking fees seem to have had any benefit even before we consider the effects of inflation. Even then one suspects they have not really profited so much as generated some turnover.

[Mike Harte]

Grant, estate agents are a whole different kettle of fish, and unfortunately in my opinion, too many are real bottom feeders with some bordering on criminal.

As an example, some many years ago I was selling a large commercial property that my company owned. I placed it with various agents that dealt in the commercial side, plus I also approached a number of my business neighbours advising them that I was selling up, in case one of them wished to expand.

It transpired the one of my neighbours actually did want to buy the site to convert it into multiple units for leasing to smaller businesses. We agreed a price, shook hands and my solicitor started the sale process with buyer's lawyer.

Imagine my surprise when a couple of weeks later I received a call from one of the agents, a pretty well known nationwide agency ( with a second name that rhymes with thieves) that is still trading, that they had a potential purchaser who would only be prepared to pay something like £200,000 less than the price that I had struck with the neighbour. They then let slip that the potential buyer was the same man that I had struck the deal with.

What they were intending to do was to purchase the site through a nominee, and the sell it on to the real buyer for the same price that I had agreed with him a couple of weeks previously. How they found out that he wanted to buy remains a mystery to both of us to this day. And in the end it didn't matter because we completed the deal some months later.

However, a word of caution to anyone purchasing a property in the future, and this is something that many estate agents don't warn you about, you need to be aware that once you have exchanged contracts, the buyer is responsible for insuring the property against all risks. In the case of the above site, one of the buildings had a full sprinkler system which burst it's pipes a few weeks after contracts were exchanged, flooding the building.

The buyer's solicitor contacted me to advise me that I needed to call in my insurers to deal with the substantial damage. I had to remind him that it was no longer my responsibility to maintain cover, and that it should have been his duty to ensure his client had organised insurance for that purpose.

That simple mistake cost him a building.

[midgetman]

I'll post the following in "Drivers" Forum, but in case some competitors don't get over there, I've had a missive from TRS regarding harnesses for 2018 that may be relevant:

FIA have introduced a NEW standard for harnesses, 8853:2016. For FIA regulated motorsport, NEW harnesses purchased from January 2018 must be to the 8853:2016 standard. They will also be identified with a Gold coloured FIA hologram label.

Unfortunately the changes may result in delays to some orders, so please pre-order in advance. We are currently working to a 6 week lead time.

Here is the current status of key harnesses we offer:

Magnum 8853:2016 Saloon harnesses are homologated
2018 Pro Saloon & Pro Formula Harness are still awaiting confirmation from the FIA. In most cases the Magnum saloon harness can be used. We also have some 2017 pre-made stock available.

If you are currently using an in-date 6 point harness that is made to the old harness 8853:98 standard this is still valid until its end date. This will have a Silver coloured FIA hologram label. As part of the changes the only harness that will be allowed within the new 8853:2016 standard are 6 point configuration harnesses.

If you require any other harness configuration then the only option is:

4 Point Harness to the OLD 8854:98 standard, this can only be used in certain historic championships if their regulations allow it. They can still be purchased new, however only to the OLD 8854:98 standard.

5 Point Harness these can continue to be used under the OLD 8853:98 standard if they are within date. They CANNOT be purchased new as of January 2018.

6 Point Harness these are the only harness allowed to the NEW 8853-2016 FIA standard. Also they are only allowed with a moustache crutch strap, no “V” straps allowed.

For 2018 - 1pt and 2pt crutch straps CANNOT be purchased as an individual item to be added to 2018 dated 4 point harnesses.

[grantp]

Originally Posted by Mike Harte

Grant, estate agents are a whole different kettle of fish, ......

True.

But the result of their operations are usually relatively visible and the numbers large enough to notice.

Skimming from investments and service charges for moving stuff around to "improve the portfolio" are a different matter and much more time consuming to try to track.

One can come to understand the latter by considering the former - at least in outline.

The general concept of being able to make huge wealth transfers by active trading on business failings as share prices tumble makes me wonder about the logic of investing for the long term benefits of both the investor and our social systems as a whole.

[Mike Bell]

Originally Posted by midgetman

I'll post the following in "Drivers" Forum, but in case some competitors don't get over there, I've had a missive from TRS regarding harnesses for 2018 that may be relevant.

Thanks for posting the info, Max.

No immediate panic but if anyone is needing a new harness now, sounds like the availability / choice will be limited by need for homologation.

I’ve got one car using 5 point, so that will need to be modified to fit 6 point eventually. Not so easy with a fibreglass car...

BUT... I see we now get GOLD hologram FIA label! Worth changing for that alone.

[Peter Mallett]

As it happens I'll be in the market for a new harness later this year. In fact two.

Here's a question. Do you need to replace the tethers on a HANs device if you have suffered and impact?

[midgetman]

I can't see why you wouldn't as a matter of course. They're not that expensive in the grand scheme of things, and why risk it?


Sent from my EVA-L09 using Tapatalk

[Gerard C]

Very interesting point here. Shouldn't the helmet be checked too?

[Mike Bell]

I’m excitedly waiting for the postman to arrive with my invitation to the wedding.......

No doubt bauble will be going.

[bauble]

Originally Posted by Mike Bell

I’m excitedly waiting for the postman to arrive with my invitation to the wedding.......

No doubt bauble will be going.

See you there then Mike.

[Peter Mallett]

Originally Posted by midgetman

I can't see why you wouldn't as a matter of course. They're not that expensive in the grand scheme of things, and why risk it?


Sent from my EVA-L09 using Tapatalk

Agreed, next question, can you buy them separately?

[Peter Mallett]

Originally Posted by Gerard C

Very interesting point here. Shouldn't the helmet be checked too?

Yes I'm thinking the same thing.

[Gerard C]

From my understanding, tethers can be purchased separately, two different types homologated depending on what kind "hook" you have on your helmet. See homologation numbers engraved on the helmet and the tethers.

[Mike Bell]

Originally Posted by Peter Mallett

Agreed, next question, can you buy them separately?

There used to be several types / makes of tether available on their own, but can only see Schroth ‘sliding’ set and HANS ‘quick release’ versions in the DT catalogue. Maybe worth enquiring......

Usually helmet checked by scruts at circuit after an accident if impact suspected. Or are you thinking of strain on the clips from the FHR?

[Peter Mallett]

Originally Posted by Mike Bell

There used to be several types / makes of tether available on their own, but can only see Schroth ‘sliding’ set and HANS ‘quick release’ versions in the DT catalogue. Maybe worth enquiring......

Usually helmet checked by scruts at circuit after an accident if impact suspected. Or are you thinking of strain on the clips from the FHR?

Well my helmet didn't suffer impact but I'm thinking of strain on the posts.

[Mike Bell]

Originally Posted by Peter Mallett

Well my helmet didn't suffer impact but I'm thinking of strain on the posts.

That's what I meant- for some reason they call them clips in DT book!

Good question, but I'm not sure who is qualified to give an answer....

[Peter Mallett]

I just spoke to DT and they don't sell my type of HANs anymore, they sell the one with the sliding tethers. To be safe it looks like I need to buy a new HANs.

Edit, checked back and they have them in stock! Have now ordered a set.

My HANs is pretty old, it's carbon fibre but it must be ten years since I bought it. Time flies.

[Mike Bell]

Early adopter, eh? We're lucky they aren't dated like seats, by the sound of it......

Sliding tethers definitely an advantage. Pleased mine has them.