Good as new, but will it make a profit?
This 20-year-old VW Golf GTI with just EIGHT MILES on the clock will be sold at auction this weekend alongside five other barely-driven classics. The 2002 Golf GTI is a 25th Anniversary model of which just 1,800 came to the UK costing £18,660 new. It has been stored for the best part of two decades and shows just 8 miles on the odometer. Experts predict the sale figure could exceed the top value of the most collectible original Golf GTI cars.
Cars are designed to be driven – but in some instances, they’re models earmarked as lucrative investments by buyers hoping they will dramatically appreciate, if stored the right way and temptation to take it for a spin ignored.
Collectors are pretty savvy, too, purchasing limited-edition models from new, immediately putting them into storage and not letting them see the light of day until their value has sky-rocketed and they can provide a pocket-busting return.
This latest example shows it’s not just happening with ultra-exotic machines; this 2002 Volkswagen Golf GTI – one of 1,800 sold in the UK – is set to go under the hammer at a classic car auction this weekend with just eight miles on the clock. However, there are some doubts around how lucrative the decision to keep it locked away for almost 20 years has been, given the predictions for its sale value from experts.
It will feature at Silverstone Auctions’ Classic Sale at Silverstone on 31 July alongside a raft of collectible motors – take a look at the five additional lots we’ve picked out with staggering low mileage.
Good as new: This 2002 Volkswagen Golf GTI is being auctioned this weekend with no reserve. That might not sound all that interesting, but there is one major USP…
From new, it has covered just 8 miles. That means that has covered an average of 0.47 miles for each year of its existence
Volkswagen celebrated the 25th birthday of its iconic Golf GTI in 2001 by producing a small run of special edition versions of the Mk4 generation that was on sale at the time.
The limited run saw just 1,800 delivered to the UK, 900 with a 1.8-litre turbo petrol engine with 180bhp and the second 900 with a 1.9-litre diesel producing 150bhp.
The 25th Anniversary Golf GTI, despite the low number, came as a three-door only, and in three colours: tornado red, back magic or silver.
This one is a petrol model in reflex silver and is number 718 of the UK-delivered examples, which is stamped on the plaque inside the car.
It was first registered on the 1 October 2002 – and seemingly locked away shortly after and has only surfaced again now.
Records show it has just one keeper ahead of the auction, and they’ve barely put a print on the leather steering wheel.
It will feature at Silverstone Auctions’ Classic Sale at Silverstone on 31 July.
Volkswagen celebrated the 25th birthday of its iconic Golf GTI in 2001 by producing a small run of special edition versions of the Mk4 generation that was on sale at the time
The limited run saw just 1,800 delivered to the UK, 900 with a 1.8-litre turbo petrol engine with 180bhp and the second 900 with a 1.9-litre diesel producing 150bhp. The car being auctioned in the former
Silverstone Auctions confirms it has a mere eight miles indicated on the odometer – that’s 0.4 miles for every year it has been registered on the road.
The auction house states that it has recently been recommissioned – including its ‘first pre-delivery inspection’ – by a VW Dealer, having barely turned its 18-inch wheels in its entire lifetime.
Costing £18,660 when new some 19 years ago, the unused Golf GTI will go to the block tomorrow (Saturday) with no reserve.
When pressed by This is Money to give a ‘ballpark figure’ for what it might sell for, a Silverstone Auctions spokesperson said: ‘As it’s offered without reserve, it could sell for anything.’
There isn’t a blemish on the seats or a print on the steering wheel given that it has been kept in storage for its entire life.
A plaque inside the car – as well as a host of documentation – confirms this is number 718 of 1,800 UK right-hand drive 25th Anniversary editions of the Mk4 Golf GTI
Costing around £18,500 when new some 19 years ago, the unused Golf GTI will go to the block on Saturday with no reserve. Experts say it might get close to £30,000
To get an idea of what its value could be ahead of Saturday’s auction, we asked John Mayhead at classic-car valuations company Hagerty to put a price on the little-used Golf.
He told us: ‘The Golf is a really special car. The 25th Anniversary models are already becoming collectible with “normal” mileage examples selling for up to £9,000.
‘This one though is effectively a new car and Hagerty would not be surprised if it reached £20,000 and could even exceed the top Hagerty Price Guide value for the Mk1 Golf GTI which stands at £27,900.’
If it does reach only £20,000, the one keeper is set to make just over £3,000 profit. Once you add storage costs and anything spent on its upkeep for 19 years to the equation and the reality is they’ll struggle to break even.
Factor in the impact of inflation and the original 2002 purchase price equates to £27,804 today. That means the winning bid needs to be well above the higher-end Mk1 Golf GTI value for the vendor to make anything but a loss.
As you might expect from a car that’s covered just 8 miles, the engine bay is pristine. The powerplant of a 19-year-old car rarely looks like this
The auction house states that it has recently been recommissioned – including its ‘first Pre Delivery Inspection’ – by a VW Dealer, having barely turned its 18-inch wheels in its entire lifetime
What differentiates this 25th Anniversary edition from a standard Golf GTI at the time is a bunch upgrades, including BBS alloy wheels, Recaro sports seats, modified bumpers at the front and rear and a one-off rear spoiler and apron.
The not-yet-run-in 1.8-litre, four-cylinder turbocharged engine is mated to a six-speed manual gearbox that will be as sharp as the day it left the factory.
That means it should easily achieve its 138mph top speed and 0-to-60mph acceleration time of just 7.6 seconds.
The big question revolves around the decision to treat cars like this as an investment rather than use it for what it was designed to do – provide bounds of fun for the lucky few who got their hands on one.