And judging by the new pictures in the gallery: damage and rust on bonnet, lots of manky hoses and just about everything in the engine bay corroded. I mean, no offence to the owner or anything, but £16k is ridiculous. If I were looking for one right now it'd need to be more like half that, based on what else I've seen sold recently.
Personally I don't think these kind of prices are a good thing at all. Surely your car being worth lots of money is only any good to you if you consider it as an investment, plan to sell it and don't want to buy another one? Otherwise all it means is more expensive insurance, parts prices go up, and it represents greater financial risk and more to worry about. But maybe that's just me, because mine isn't one of the minters and I'd like to still be able to afford a really good one in the next couple of years.
I completely agree that they are definitely undervalued and under-appreciated. I just see that as a good thing for anyone wanting to own and run one and I'd rather it stayed that way so I can still afford to!