Published on September 12th, 2021 | by Daniel Sherman Fernandez0
Why Are The Prices For The Classic Land Rover Defender Stagnant
They were rising fast a decade ago and now the Toyota Land Cruiser has overtaken them.
Slightly more than a decade ago there a noticeable rise in the number of restored classic Land Rovers in Malaysia. Yes, it is well known fact that Malaysia has one of the highest number of Land Rovers in the world. Mostly because of the farmers in Cameron Highlands and our various public service departments.
As the iconic 4×4 vehicle gained popularity around the globe with celebrities and even catwalk models, some Malaysians looked at having a Land Rover as their weekend vehicle or their ‘dusun’ mobility machine.
Restorations were moving along swiftly as government owned Land Rovers were being auctioned off at low prices (we have seen 3-door pickups and wagons as low as RM23k to 28k and the longer 5 door wagons from RM29k to just RM39k).
From simple ‘back to showroom’ restorations to ‘007 Bond’ bad guys mean machine re-builds that had owners forking out hefty sums. We ourselves were bitten by the bug a few years ago and looked at a 5 door wagon with a 200 TDi engine. It had raised suspension, large and wide wheels and front bucket seats. Priced at RM70k negotiable, it was tempting, however a cash purchase meant our kids education fund would be used and common sense stopped us from making an offer.
Meantime, a number of well appointed luxurious Defenders were imported into Malaysia from exclusive Defender modders in England like Project Kahn and the Chelsea Truck Company (there was a unit recently on sale for a princely sum of RM388k) to name a few.
Prices of these ‘next level’ restored Defenders sit between RM250k to RM350k which is quite insane when considering a used Range Rover is much cheaper.
Still, it is the iconic look and the ability to be seen driving a rather unique classic Land Rover 4×4.
So, as the years passed a shift happened. It seems that in the past 2 to 3 years’ prices of classic Japanese 4×4 vehicles like the Land Cruiser and Isuzu Trooper have started rising and the asking prices of the classic Defender has sort of stagnated and in some cases, dropped a smidgen.
Then in the last year, prices actually moved downwards a little for locally restored Defenders, especially the pickups and the 3-door versions. The 5-door wagons were still holding on to their values and the UK imported modded versions were also holding on.
A classic Land Rover Defender ownership represents an opportunity to own (the best version we think will be the Defender Works V8 Trophy) and enjoy an iconic vehicle that might increases in value in the coming years as the economy picks up and the travel and camping bug hits Malaysians again.