Reply to: Motorbike Collection

[Olly]

I'd love to indulge in something like this at my company's expense but my concern is that this would be seen as a loss making hobby than a legitimate company investment.

Also, what business use could we claim for the bikes? Would we ever ride them? Would this be business or private mileage? Or would we just fudge over this and not declare it? Park the bikes and never ride them?

I really doubt that HMRC would see it as a legitimate business expense especially if it's completely unrelated to the company's core business.

Yes it could be viewed as that but then again it's all about how you run things.
There's no "business use", this is an investment like a painting or stamps or something. Any mileage would be in the course of maintenance of the machines (at least in the first iteration)
If I bought a very valuable painting as company investment and kept it in a humidity controlled vault or paid for it to be cleaned and had it insured wouldn't that be ok? Classic bikes are identical surely?

[Wanderer]

I too wish to invest retained profit in a collection hopefully appreciating motorbikes.

I'd love to indulge in something like this at my company's expense but my concern is that this would be seen as a loss making hobby than a legitimate company investment.

Also, what business use could we claim for the bikes? Would we ever ride them? Would this be business or private mileage? Or would we just fudge over this and not declare it? Park the bikes and never ride them?

I really doubt that HMRC would see it as a legitimate business expense especially if it's completely unrelated to the company's core business.

[Olly]

Thanks for the advice about the business...thinking of setting up a company with my son or buying the biked privately...

Current shopping list is a Ducati 996 SPS Foggy rep currently negotiating) the Exup, and the first blade...I think these will all be good investments and just as importantly, they all appeared on my bedroom wall!

The aim is to build a collection that increases in value, but also gives me pleasure along the way.

Your thread seemed to turn into people advising on bikes which I'm sure wasn't the intention.
I too wish to invest retained profit in a collection hopefully appreciating motorbikes.
I've just bought a BSA A65 in my name and know of 916 SPS for a fair price. Anyway, please let's not this thread in the Accounting / Legal section become about bikes.

I'm wondering how you're progressing and have a few questions:
When you purchase a bike does that become a business expense that year?
What about the maintenance and storage aspects, are you letting garage space to your Ltd?
Specialist tools etc? Buying those through the company?
Did you find suitable business insurance?
How are the bikes registered in the company name, is that easy enough?
Are you insured to ride them (for maintenance purposes of course )
If it goes well I'm thinking to expand it slightly to offer classic rental, is that something you'd considered?

Thanks

[Fred Bloggs]

Good luck, originality is everything with regards to whether the bike appreciates or not. My advice is to avoid anything that has had irreversible modifications made to it.

[Vito]

Thanks for the advice about the business...thinking of setting up a company with my son or buying the biked privately...

Current shopping list is a Ducati 996 SPS Foggy rep currently negotiating) the Exup, and the first blade...I think these will all be good investments and just as importantly, they all appeared on my bedroom wall!

The aim is to build a collection that increases in value, but also gives me pleasure along the way.

[Support Monkey]

Classic Scrap - 1991 Yamaha FZR1000R EXUP Vs Suzuki GSX-R1100 - Road Tests: Used - Visordown

Ahem, I rest my case. Yes I had RD400's and a GT380 (and a 550) in my time. They weren't great bikes in their day but they sold well, so people like me and Fred hark after them. If you look at what's collectable now, it's bikes like the RC30 or RVF750 so does that mean the Desmosedici will become collectable? You bet, but it's £35k now so not exactly pocket money.

Here's some suggestions worth thinking about now - VFR750 (the first one with gear driven cams); '92 FireBlade; FZR1000EXUP; '98 R1; GPZ900; All vaguely ground breaking in their day.

GPZ1100 and 750, RC30 and RC45, Ducati 916 and Monster, RD 350,500lc and YPVS, R1, and if your in it for the long haul the Triumph 675

[Fred Bloggs]

How about this one then:
Ultimate Trackbike 5: Chili's WSB Ducati 916 - Snippets - Visordown

I wasn't thinking of anything like that. But it fits the bill nicely.

[xchaotic]

Add an early 916 Ducati to that list.

How about this one then:
Ultimate Trackbike 5: Chili's WSB Ducati 916 - Snippets - Visordown

[Fred Bloggs]

Add an early 916 Ducati to that list.

[Dearnla]

http://www.visordown.com/road-tests-...100/11224.html

Ahem, I rest my case. Yes I had RD400's and a GT380 (and a 550) in my time. They weren't great bikes in their day but they sold well, so people like me and Fred hark after them. If you look at what's collectable now, it's bikes like the RC30 or RVF750 so does that mean the Desmosedici will become collectable? You bet, but it's £35k now so not exactly pocket money.

Here's some suggestions worth thinking about now - VFR750 (the first one with gear driven cams); '92 FireBlade; FZR1000EXUP; '98 R1; GPZ900; All vaguely ground breaking in their day.

[Fred Bloggs]

Don't agree. X7s and GT380s are pretty collectable and turn up regularly at bikeshows in the 'classic' displays along with FS1Es etc from the same era. I had both in the past and have kicked myself when you see what they sell for now.

Doesn't mean they aren't absolute rubbish as bikes though. I have ridden them all when I was youth and the pick of the 250/350/400cc class of that era is without a doubt the 250 and 350 Yamahas. Honda 400/4's were cute though.

[TestMangler]

You're falling into the trap of thinking "old" = "classic". Of those three, two of them were total POS bikes even when new and age will not have been kind to them. GT750, fair enough. Not a great bike but quirky enough to be a "classic". The problem is, just which bikes will be true future classics? I have a 1990 Buell RS1200, one of only a few made and completely original. A classic? Possibly. Value? Almost worthless (cost new in 1990, £13995!). A good prospective future purchase now that Buell are gone? Maybe.

Don't agree. X7s and GT380s are pretty collectable and turn up regularly at bikeshows in the 'classic' displays along with FS1Es etc from the same era. I had both in the past and have kicked myself when you see what they sell for now.

[Fred Bloggs]

One bloody thread and I'm wasting my afternoon on ebay scouting for a for some classics...

Now, which was the first Kawasaki to feature that green-in-your face paint?

My money would be on H1R race bike followed by H2R race bike followed by KT250 trials bike. Just a guess though, for pure road bike, I don't know.

[xchaotic]

One bloody thread and I'm wasting my afternoon on ebay scouting for a for some classics...

Now, which was the first Kawasaki to feature that green-in-your face paint?

[Fred Bloggs]

Originality is everything. You have to be completely anal about it, but that's where the money is longer term IMO. You're right the earliest models that were seen as "mould breakers" in their time are the ones to go for. Looking back it's the early Z1's that are worth the money now when totally original, and later Z900's, Z1000's are nowhere near as desirable for example. Follow that line of thinking and yes, a totally original and unmolested very early R1 is probably worth buying (if you can find one).