Image by Barrett-Jackson
A friend emailed me the other day, explaining that the time has come to sell his 1995 NAS D90 with 300k+ miles on the odometer. He asked me how much he could expect to sell it for, considering that it had minimal rust and a decent interior but needed some attention to the motor (a motor rebuild would soon be required). To his probable dismay, I replied that, based on recent Bring a Trailer (BAT) sales of the same model vehicle, he could expect to get in the region of $30,000. The same vehicle would probably sell for close to $100,000 if it had been through a well-executed nuts and bolts rebuild (recently, a rebuilt D90 sold for as much as $155,000). The trend is clear: wealthy buyers (the word “enthusiast” would imply knowledge) want rebuilt and restored Land Rovers, but there is nothing that could possibly explain a 1981 Land Rover Santana 109 selling for north of $400,000.
The Land Rover in question was sold via Barrett-Jackson auctions; the description is as follows:
“Ground-up complete restoration. Includes matching Series 3 88 camper/trailer. Titled as 1981 Land Rover Santana 109. Sold as a pair with Lot #1116.1. This custom 1981 Land Rover Series 3 with trailer resembles a “Jurassic Park” support vehicle. It is powered by a newly rebuilt 300 Tdi engine from a later ’90s Defender, mated to an LT77 5-speed transmission. It is finished in Flat Green military-style external paint dressed in a custom front runner roof rack, pick, axe and shovel. The interior features custom faux gator seats and a custom dash, full wave rubber floor, and a Bluetooth external sound system. It also features an all-terrain trailer with pintle hitch, a SparrowXL custom full pop-up camper tent with full camping gear (including stove, cooler, cooktop, table, and chairs), custom safety devices and a roll cage under a custom canvas top.”
The Series 3 Santana was manufactured by Santana Motor in Linares, Spain, from 1958 to 1994, and these vehicles are, debatably, not considered as desirable as Solihull-built vehicles, and a Santana in very good, original condition can be bought for as “little” as $20,000 online. This particular Series-3 Santana was beautifully restored by Rover Trophy out of Bridgeport, Connecticut. Rover Trophy meticulously custom builds vintage vehicles such as the Land Rover Series, Defender, and Chevy Blazer, and vehicles listed on their website generally hover between the $200,000 to $300,000 range. The Series 3, listed as the Trophy Wolf on the website, was actually one of the lower-priced vehicles at $165,000 and was sold on auction by Barrett-Jackson Auctioneers for a reported $425,000, according to the updated Rover Trophy listing.
The response to this sale on social media swings wildly between disbelief, outrage, ridicule, speculation, and, believe it or not, a few who think that the purchase price was justified. Adding to the frenzy was a contradictory post on a Facebook enthusiast page claiming the vehicle was sold for $480,000 and $438,900. There were even hints that the purchase of the Land Rover was some kind of fine-art-style tax write-off or money-cleansing operation. Hysteria! But, inevitably, the further you scroll down the comments, the more the conversation evolves as the business opportunities seduce the enthusiasts. “Hey, you need to bring more over. I’ve got some at the port. I’ll DM you.” In my humble opinion, this sale was well earned by the seller, but it was a fluke nonetheless. There were at least two competing buyers at the auction who did not know the market, did not know what they were buying, and might be shocked to discover what they could have bought for the same money in the clearness of day.
The reality has been for a while and will be further entrenched by this sale, that there are two vague markets for old Land Rovers: original and relatively affordable or rebuilt and astronomically expensive. That is great news for people like me (I own a 2003 Land Rover Defender 130 that I bought for $8,000 back in 2009) and my friend with the 1995 D90. All we need do is invest $50,000 in a complete, professional nuts and bolts rebuild of our vehicles, list our vehicles for sale via a premier auction house, and pray that a billionaire with a mouthful of champagne is in the mood to drop half a million on our old oil leakers. Add one Camel Trophy sticker or Jurassic Park T-Rex sticker for maximum effect.
Images by RoverTrophy
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