KELOWNA, B.C. – It’s called the Peel P50, a three-wheeled microcar and one of the original few manufactured in the 1960’s is set to be restored in the Okanagan Valley.
Dave Thompson is spearheading the effort for his brother-in-law who bought the car for $100 more than 50 years ago at a second hand store in Vancouver.
“It was designed for a businessman in a suit and his briefcase,” said Thompson, who claims there are only six original Peel P50’s in the world from the original 41 built on the Isle of Man.
The Peel P50 Wikipedia page states there were 50 made between 1962 and 1965, and states 27 are known to exist.
Thompson says the microcar was purchased as a toy and its condition proves that. It no longer works, the windows are missing and the roof was glued back on after a mishap on the family farm decades ago.
The car is set to be restored in Vernon and will be sent to auction after completion.
Thompson’s brother-in-law is counting on any cash generated to assist their retirement plans.
Sotheby’s auctioned off a similar vintage model last month in Florida for US$176,000 (CDN$235,000), making the restoration work that much more lucrative to Thompson’s family.
The Peel Engineering company recently received investment money to re-start production of replicas for about $25,000.