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Just how reliable a measure of inflation is the current CPI method, or RPI for that matter? Well, if you include classic cars, possibly not a very accurate measure at all according to the following:
Here is a very nice Triumph TR7 in 'Kermit' green that sold at auction in early May this year for £8640.
https://angliacarauctions.co.uk/classic/results/saturday-1st-sunday-2nd-may/1981-triumph-tr7-convertible/
If only you had been quicker, because just a few days later, the same car could be bought off eBay.
https://www.ebay.co.uk/itm/164920747215?hash=item26660ae4cf:g:Tk0AAOSwoKBglpIU
It's doubtful the seller will get the £12995 asking price, but if he should, I make that a 50% increase in less than a week.
Do I live in Britain or Zimbabwe?
I have seen many examples of the above over the last year or so. My poor old share and gold portfolio lost well over 10% in the last week. Would I swap that for a TR7? Not in that colour - in blue.....maybe. Then again, maybe not.
Purdey, from the New Avengers had a yellow TR7, but it kept breaking down.
https://www.youtube.com/watch?v=3wnabXEDtAg
So, you'd be better off with Mrs Peel's Lotus Elan.
https://www.youtube.com/watch?v=P41clz5_Rp0
However, whichever you choose, make sure it has a large glove compartment.
https://www.youtube.com/watch?v=UviwWIcOFQ8
The TR7 was something of a poor relation: frowned upon by traditionalist enthusiasts of the older TR models, it hadn’t been around quite long enough to gain classic status purely on account of its age, while Harris Mann’s edgy wedge was perhaps a reminder of the decade we were trying to forget as we forged ahead into the ’80s and ’90s.
Nowadays though, things have very much changed and while a TR5 might rumble past a group of teenagers without raising an eyebrow, a TR7 – especially a coupe in the striking Triton Green – will turn heads. In that respect the passage of time has been kind to the TR7, even if the BL-era build quality struggled to shrug off the effects of successive British winters.
Some (not me) think the best-driving of all the TRs, the four-cylinder engine giving it handling balance the nose-heavy six-cylinder cars can’t match and its modern monocoque construction doing away with the separate chassis. and the suspension etc are from a different era with its MacPherson strut front end and four-linked rear axle.
The TR& was designed very much as a continuation of the TR2-TR6 line although its maker by then being part of British Leyland, the TR7 was the last car to be developed independently by Triumph. It’s also quite brisk and even the regular four-cylinder car can match a mid-’90s GTI.
As a classic today, the TR7 has excellent parts support thanks to the specialists and there’s very little you can’t obtain.
The convertible has survived in greater numbers than the coupe but there are plenty out there who prefer the hard-topped Seven simply for its look h means prices of the once-unloved coupes are now strong!
R7 now 37 years old and production having been carried out under BL, clearly structural rust will be the big issue. It’s thought that Canley and Solihull cars were better protected by the factory but there’s still plenty of scope for rot and unlike older TRs the unitary shell can’t be lifted off the chassis to make repair easier.
The sills are critical and on the TR7 they run behind the front wings, meaning that a quick repair with the dreaded ‘over sills’ may have left weakened rotten metal hiding in that critical area. BEWARE If cover sills have been welded on to the outside, this makes lifting the carpets to check the inside can give a better idea of the car’s solidity, unfortunately they were glued down originally this isn’t always possible.
Elsewhere, check the strut tops under the bonnet carefully and at the rear, examine the boot floor and spare wheel well.
All panel edges need a look, rust between floor and sills will indicate problems & bubbling in the seam along the top of the rear wings can be expensive to fix & rot in the joint between sill and rear wing & Inner arches, but less obvious is a corroded screen surround, Very expensive!
paint peeling off the aluminum headlamps is common, it’s the paint rather than rust.
Why do Governments simply take a look at the price of gold,,,,,May 1972 US $ 42 . Jan 2006 $ 534 .
Now unbelievably high,,,that is the rate of inflation.
What we are witnessing is failed Government policies, and gradual deterioration of Fiat currencies.
Not forgetting Pensions and savings, if true inflation figure were added to just pensions increases Pensions and PPF would have to default. The only other investment that sidesteps that inflation is the prices of houses , but of course when you die and pass it on ,there is inheritance tax.
Physical Gold can ,with thought ,can bypass tax and inflation.
The Gipsies have it right ,along with the Asians, coins and heavy jewellery.
End of sermon.
TR7 cont
The slant-four Triumph motor is usually pretty long lived IF maintained properly. but many weren’t looked in the years when values were very low.
Apart from the obvious common oil leaks, the biggest problem with the engine will be a warped cylinder head due to differential expansion between the iron block and alloy head – not due to owners failure keep up the anti-freeze concentration, vital for its corrosion-inhibiting properties. this will manifest itself in head gasket failure and the serious problem will be easy to spot via the oil and water mixing. If the engine quickly starts to overheat when left idling after a run this shows that all is not well in the head gasket department.
Although a simple engine by modern standards, head removal is problematic due to the steel studs fitted at an angle corroding into the alloy head making removal of the head impossible with the studs in place.
Some cars may have an electric fan as a preventative measure so don’t be too suspicious of a car which has one fitted.
Timing chains are renowned for getting noisy although they may still carry on well for many miles, but the factory’s recommended change interval was 25,000 miles!
Also engine issues have been traced to water in the fuel due to the location of the filler cap which gathers water in the recess. this problem will be bad enough for the tank to rust out and replacement involves dropping the rear axle.
TR7 engines came with hardened valve seats from the factory,so the cars can run on unleaded fuels without additives.
Four and five-speed gear boxes synchromesh becomes weak over time,most learn to live with it as the shift action will tend improve when the engine and gearbox get warm, or a good tip is to use automatic gearbox (ATF) fluid!
Clunk on hard acceleration can be nothing more sinister than a worn prop shaft joint or simply the bushes in the trailing arm mounts, fixable at a price.
Rear axles tend to be louder on five-speed cars, but unless you can't hear the radio don’t be too worried!
Restoration projects cost under £2500 -3000 although they are disappearing due to cannibalisation or restoration .a usable car will cost around the £4000ish for a coupe, with convertibles probably £5500 then values rise with condition or rarity to the £12,000 ish mark, here you’ll also find plenty of V8-converted cars and few example with Sprint running gear.
Still fancy a TR7?
From all the TR7 examples that I have come across and those that came into my friends Bosch franchise for work I wouldn't be tempted, really terrible cars that should never have been created.
The UK motor industry instead should have come up with something along the lines of the Mazda MX5 and badged it an MG or Triumph,now that would have been a winner!
So be careful about which classic you may bid on!
In the 70 s. I recall seeing a Jag XK120 for sale at £120.
I was earning £3 10 shilling a week paid monthly, as Articled Clerk in a Chartered Accountants, before going into English Electric as Cost Accounting at double the salary.
Happy days ;-(.
Later had TR2 rot box, with Standard Vanguard engine. Simple basic mechanics .
Pay was crap then, mechanic -grease monkeys were earning 3 times more.
But the early knowledge paid off later. :-).
Sorry if a little off topic ,but linked with inflation.
Hi Mr Bond,
Governments don't want ordinary mortals like us to realise the true rate of inflation, that's why they have departments whose role is to come up methods of measuring inflation based things like a basket of shopping (what's in the basket and from what shop?)
Why the Government prefers the CPI – at least when it comes to pensions 20 March 2012
Public sector pensions will increase more slowly in future after the Appeal Court threw out an attempt to stop them being increased in line with the consumer price index (CPI) rather than the retail price index (RPI).
The CPI typically runs at a lower rate, thanks to the way in which it is calculated. When introducing the switch the Government argued that this was a fairer measure of inflation – as it did not include certain housing-related costs, such as mortgage interest payments or council tax!
These changes don't apply to MP's or the senior Judicery who ruled on the appeal case!
I'm sure most people have read this, but I'll put the link in here just in case. It's about the Fed's apparent change of heart!
https://moneyweek.com/economy/us-economy/603423/the-fed-springs-a-surprise-on-investors-are-there-more-to-come
Well, Western governments need to inflate away their debts, so I agree with the author about how far the 'taper tantrum' must run before they change track again.
My eldest sister's husband was a panel beater all his working life, and has helped me buying cars over the years. When I was a student, I saw a Triumph TR7 at a local garage and he came along to view it. The verdict was: 'as rotten as an old pear'. It was a blue one with the roof, not convertible, and I could see all the wheel arches had filler in and underneath was rotten. It was 1986 and the car was probably about 8 years old - I think the insurance for me was about £850.
I eventually bought an Austin Metro when I started work. It was about 18 months old, purchased from a main dealer, and after a week, I went to go to work one morning and there was about 3 inches of water in the passengers footwell. I took it back. They kept it for about 2 weeks, told me it was fixed, and about 2 days later, the footwell was full of water again. My to-ing and fro-ing to the garage happened a couple more times with no success. After a comment from the sales manager to me, which even in those days was extraordinary, I threw the keys at him and said I didn't want the car anymore.
My brother-in-law said that finding water leaks in cars is such a difficult, time consuming process, that they just didn't want to make the effort. So, one cold Sunday morning in January, we were out on my parent's house driveway with the car. He was upside down inside the car and I had a hosepipe which I had to allow the water to trickle from starting at the lowest point on the door/wing. It took ages to find, and the leak point was found to be on the roof edge, hidden by some black trim. The factory sealer had not covered properly and the water just poured in. We put some black sealer on, replaced the trim, and it was fine after that.
I never really liked the car, though, and kept it about 2 years before selling it. I really should have bought either a Mini or an Escort - much more a young person's car in those days. I know a little about car repairing from my brother-in-law. One thing he did say was that finding a really good painter was so difficult. The cars would be repaired really well, only to be almost entirely ruined by painters throwing on a load of paint which looked terrible.
To buy a classic today, I think joining the owners' club is the best thing to do. So much knowledge and willing helpers. I did join the Jensen Owners' Club for a year when in my early 30s. I liked the Jensen Healey but found that they weren't particulary good cars. I also had a young family then, so it was completely out of the question anyway. I was just learning the ropes for later in life.
Hi Redsparrow,
Good news about Former Commons speaker John Bercow has announced he is joining Labour as he launched a scathing attack on Boris Johnson.
Lashing out at the prime minister, he said the Conservatives today are a “reactionary, populist, nationalistic and sometimes even xenophobic” party.
Your brother is is right on all counts, unfortunately although at the time it was Lord Stokes then Michael Edwards whose brief to save British Leland was questionable and in order to cut tooling costs he decided to keep keeping using the huge surplus of post war components on supposedly new generation cars.
Admittedly this had been the norm post war , Austin Healey sports cars had the same basic engine block and even gearbox that was in the Austin 5 ton army lorries, MG'S the Austin and Morris brands were using outdated lever arm suspension and wish bone suspension which would just collapse unless it had been greased up on a regular basis.
Remember the first Range Rovers, now in concourse condition going for 100K, they used Morris Marina switch gear and door handles, although the Rover V8 engine was superb and the car was basically simple, no stupid ECU's or electronics making them true off roaders that were easy to maintain ., more than can be said for today's Joke called Range Rover!
Remember the Austin Allegro , no surprise the Austin Allegro has been voted world's worst car.
They were banned from the Blackwall tunnel as dangerous to tow, because their shells would bend and back windscreens pop out.
The rectangular Quartic steering wheel was branded unsafe by the police and there were quite a few owners who watched their rear wheels fly off and over take them.
That's before you start on the questionable aesthetics.
I n the Harris Mann in his original sketches. It was actually a very handsome car.
The villain of the piece was Lord Stokes, head of British Leyland, who insisted on using seats from the Maxi and trim from the Marina, and spoiling Mann's visionary design.
The Allegro - nicknamed the All-aggro - is the world's worst car, not because it was a bad design by one man, It was ruined by a committee of meddling fools!
Hi Mr Tibbles
Unfortunately, Boris Johnson and the Austin Allegro have one thing in common. They are both duds.
So, what of the markets this week? Another week like last week, and I'll be an unhappy bunny. In fact, I may start thinking along these lines:
I wish I loved the Human Race;
I wish I loved its silly face;
I wish I liked the way it walks;
I wish I liked the way it talks;
And when I'm introduced to one,
I wish I thought 'What jolly fun!'
Sir Walter Raleigh (not Victor Meldrew).
Poetry Monday has come early this week.
Best of luck to all.
Hi Redsparrow,
Thought you would appreciate this, some brave Irishmen who tried to stand up for what was right against the tyranny and greed of their employers!
March 27, 1876, the murder trial Molly Maguire member Edward Kelly began in Pennsylvania.
The last of the Molly Maguires were hanged in the Carbon County Prison in Mauch Chunk, Pennsylvania (known today as Jim Thorpe) on June 21, 1887. Below, we look at the group execution of Molly Maguire members that would go down in history.
It was one of the largest mass execution of any group by the US federal government in history. Between 1877 and 1879, 20 Irishmen known as the Molly Maguires, a labor movement working and organizing in the Pennsylvania coal fields, were executed. Among them was John Kehoe King of the Mollies who was pardoned fully 101 years later.
https://www.irishcentral.com/roots/history/molly-maguires-executed
Hi Mr Tibbles
I've never seen the film.
Mining is a highly dangerous activity. Bitcoin mining is safer, although not very safe on your wallet, I suspect!
Good news on John Bercow joining Labour? Are you really happy to champion someone because they hate Boris? Have you seen Bercow's previous voting record? Did you know he was a member of the Monday Club? Look that one up. Do you approve of bullies? The guy is desperate to get into the HoL. For goodness sake!
That's for MrT BTW
Bercow is not a nice man....lots of bulling for such a small man!
Self serving , looking for the limelight and just how much did he spend on his wallpaper in office and fancy meals out-tens of thousands . He is milking the money now he has gone freelance...all the same right/left and in the middle
There are very few if any honourable politicians after 4 years all on the gravy train at the expense of ordinary people/tax payers
Hi Mr Z,
Most likely John Bercow is very keen to stay on the political gravy train, although he has admitted his mistakes (prejudices ) of the past, as yet his motives for joining Labour may still be in question, although just like anyone else who has expressed regret for their past he deserves the opportunity to make amends.
Bercow claims his prejudices and political attitudes were due in part to peer pressure from his father, having experienced similar treatment from my father I can have some sympathy with that, although he accepted his father's "Doctrine of predestination" and achieved great political success.
(My father a successful scrap metal dealer/road haulier had similar right wing views and demanded that if I were to live under his roof that I would vote Tory, when I disobeyed he sacked me from his business so I took a job as a bus conductor (joining the TGWU), we had rows every day until after a fist fight in which we fell down the stairs I moved out. years later we agreed a truce although never changed our views, but I held his hand as he was dying.
So all our decisions in life right or wrong are at a price and all have consequences.
The former Speaker added: “What was really significant and bad for me. I took the wrong course and made a very foolish decision was that I listened to what Dad said about Enoch Powell.
He was “deeply ashamed” of his connections to the Conservative Monday Club and his admiration of Enoch Powell. Mr Bercow held committee positions on the Conservative Monday Club (an extremist, ******, anti-immigration pressure group) when he was 20-years-old. The Conservative Party suspended the club because of its race policies in 2001.
https://www.express.co.uk/news/politics/1240300/John-Bercow-Brexit-latest-news-update
https://unherd.com/2020/02/the-strange-tragedy-of-john-bercow/
John Bercow was always a misfit. The son of a Jewish taxi driver from north London, grandson of a Romanian immigrant called Bercowitch, bullied at his local comprehensive for his precocity – while his friends scrapped, he would read the Times. At university, while his friends quoted Monty Python, he would quote Disraeli. He was bullied for being Jewish and for not being Jewish enough (his mother was a convert) as well as for his diminutive size and the teenage affliction of “really very severe acne”.
https://www.newstatesman.com/politics/politics/2012/09/john-bercow-ive-never-liked-little-cliques
As Speaker, he broke the crucial convention of impartiality admitted voting remain. He caused outrage by manipulating parliamentary procedure , first to force Johnson to delay Brexit and then apparently scuppering the referendum result altogether by siding with Labour and Tory rebels.
https://www.dailymail.co.uk/debate/article-9706741/ANDREW-PIERCE-John-Bercows-defection-terrific-coup-Tories.ht
Boris lies and deceives the electorate and his Brexit has brought nothing but misery and increased expense for the future!
Hi Mike,
Politicians that are "Nice" rarely climb the political ladder, political success has a price and unfortunately honesty,morality,genuine compassion and understanding of society are quite insufficient to cover that price!
Boris certainly doesn't care a jot about inflation or us ordinary people !
Boosting British Trade, My ar*e!
Boris Johnson’s plan for a successor to the Royal Yacht Britannia is “silly populist nonsense”, former chancellor Ken Clarke has said.
Lord Clarke said the £200 million national flagship demonstrates that some in No 10 believe there is “free money” despite the stretched state of the national finances.
Cabinet minister Matt Han**** insists the vessel will pay for itself by boosting British trade with countries where it can dock.
It shows there are people in No 10 who just think there’s free money and who think that waving a Union Jack and sending yachts and aircraft carriers around the world shows what a great power we are
Lord Clarke
Lord Clarke’s criticism came as official figures showed that government borrowing stood at £24.3 billion in May – down from £43.8 billion a year earlier at the height of the pandemic, but still the second highest figure for the month on record and £18.9 billion more than in 2019.
https://www.msn.com/en-gb/news/uknews/boris-johnson-condemned-by-ken-clarke-over-silly-200m-flagship/ar-AALiJYd?ocid=msedgdhp&pc=U531
MrT. His motives? It turns out he literally begged Jeremy Corbyn for help to snaffle a peerage and even wrote his own reference and nomination! I care for his upbringing as a defence. Some of us have very tough upbringings and just get on with things instead of finding excuses for questionable behaviour.
*Don’t care
Mr Z,
We don't have any way of checking on the authenticity of the allegations that he begged Jeremy Corbyn for a title, although from my past experience of dealing with both politicians and political parities nothing nothing surprises me anymore.
In the past I met Jeremy Corbyn at union and party conferences, he was never regraded as potential party leader and to be fair he never showed any desire for the role, he certainly was'nt a fan of the awarding of peerages though as he felt it went against Labour party principles, just like Tony Benn, now he was a politician with integrity and priciples1
As was his son, Paul Foot. A very trusted journalist, by all accounts.
Sorry, got my Benns and Foots mixed up - just come in from the garden, thinning the Victoria plum. Mind numbing, as you can see!