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Friday, May 27, 2016

You Won’t Believe the Asking Price of this Teeny, Tiny Peel P50


Copyright © 2016 Bold Ride LLC.

Typically, people pay more for… well, more. This is the notion behind multi-million dollar 16-cylinder Bugatti Chiron supercars and obnoxious six-wheeled Mercedes-Benz pickups. But sometimes the opposite happens. Sometimes, less costs more, and in the case of this diminutive little car… much, much more.
For the uninitiated, this is a Peel P50, the three-wheeler famously referred to by Guinness World Records as “the world’s smallest production car.” A scant 47 were built on the Isle of Man between 1962 and 1965, and of late, these microcars have skyrocketed in value.

Though this isn’t one of the original cars (of which only 26 are believed to still exist), it is still a Peel 50, and one claimed to be a 50th anniversary edition, built in 2014, though supporting documentation would be welcomed. Its eye-opening asking price? Brace yourselves—a massive $125,000. And breathe.


While that $125,000 asking price is certainly out-of-this-world for such a small (and new) car, it isn’t totally unheard of. Recently, an original 1964 Peel P50 (expected to net upwards of $100,000) went up for auction in Florida, where it eventually sold for $176,000. That however was an original car, and not one of its modern day siblings (like this one), which interestingly went back into production in 2010.

The reborn Peel Engineering Company now markets two new versions of the iconic Peel P50, an electric-powered variant (for £12,399, or about $18,000) and a traditional 49cc gasoline-powered version (for £12,999, around $19,000), as seen here.

By comparison, when new the original cars were famously referred to as “almost cheaper than walking” and returned incredible fuel efficiency of 100 miles per gallon. The price in the 1960s? Just £199 (about $280 in its day).


So will anyone end up paying this 2014 Peel P50’s steep asking price? That looks highly, highly doubtful given that you could buy another new one for significantly less. Nevertheless, these are interesting cars that you certainly don’t see everyday.