Values
- Thread starter 911 targa
- Start date
Immoral NOoooo. Arthur Jones has turned down an offer of £50k for his.
You should have been contacted by Chris re the June PP.
You should have been contacted by Chris re the June PP.
Great thread, thanks for starting it Paul. As you say, some are going to take advantage but I'm concerned that there are other dedicated owners that own nice, but under insured cars, that wont be able to replace their pride and joy if the worst happens. It's amazing how in recent years values have shot up. Please, please everyone keep your valuations current if there is a chance your car may be worth more than the market value - you may be surprised so get it checked! A number of times I've experienced how members really can't believe how much their classic car is now worth. The Clubs member benefit of free valuation, provided by Steve Kelvin motorsport manager, will be more consistent during Steve's busy racing season as it will be supported by Albert Walsh, Register Director, who has many years experience in the motor trade. The direct web site link for valuations seems to have moved so I suggest contacting Clubhouse on 01608 652911 or use the https://www.porscheclubgb.com/contact enquiry form to request a valuation.
Steve
Steve
graham tompkins
New member
During an enforced lay up lAst year,, I dug out some of my old Porsche mags ....10 years ago you could buy a very decent 3.2 for £15k, I sold a pristine 89 Carrera 3.2 , show winner 30 k miles for £22k and regreted it a week later, same mags, 924GT for £15500 from a reputable dealer, 911 Turbo £28k ! Now I look at my pension statement.... THATS IMMORAL 
graham tompkins
New member
Following on from my previous post, and Steves post regarding valuations , it may be worth clarifying the basis of valuations as far as insurance is concerned. Conventional motor insurance is based on "market value" as a basis for settlement of a claim. I've just bought an X5 and my insurers know I paid £45k on day one but as soon as I dirive it down the road its depreciated and in 12 months probably -40% and so on so on.
With collectors/classic car insurance the market value settlement does not apply. It's either Declared value or Agreed value. With declared value you simply state a price, however that is not necessarily what you will get in the event of a total loss if the declared value cannot be substantiated post event..in any case you won't get more than the declared value irrespective of the actual value at the time of loss. Having said that insurers do have a conceptual understanding of values so you can't really declare an over blown value.
Agreed value is slightly different in so much that you need to provide evidence of valuation , usually photographs and a condition report that you fill in yourself. Insurers will look at this and possibly refer to a valuer for confirmation if they feel it is high end. If this is supported by an independent written valuation from an acceptable source then this is a better option. You still wont get more than that figure no matter what , And that on day 1 . We only insure our cars once a year so potentially with an appreciating car you are always going to loose out. What is the answer?
With collectors/classic car insurance the market value settlement does not apply. It's either Declared value or Agreed value. With declared value you simply state a price, however that is not necessarily what you will get in the event of a total loss if the declared value cannot be substantiated post event..in any case you won't get more than the declared value irrespective of the actual value at the time of loss. Having said that insurers do have a conceptual understanding of values so you can't really declare an over blown value.
Agreed value is slightly different in so much that you need to provide evidence of valuation , usually photographs and a condition report that you fill in yourself. Insurers will look at this and possibly refer to a valuer for confirmation if they feel it is high end. If this is supported by an independent written valuation from an acceptable source then this is a better option. You still wont get more than that figure no matter what , And that on day 1 . We only insure our cars once a year so potentially with an appreciating car you are always going to loose out. What is the answer?
The really obvious answer is get it regularly updated by speaking to your insurance company and give them a substantiated valuation from a reputable source! You don’t ‘insure your car once a year’ and forget about it with cars like these - make sure you keep abreast of the value of your car and you hopefully won’t ‘lose out’ in a bad situation.
Don't forget that the 'insurers' do well out of the ever increasing values of our classic cars as the annual premium is based on value.
My cars have increased considerably over the last 20 years and the insurers have taken an ever increasing annual premium from me - fortunately with me never having to make a claim.
Having said that, my insurance company have always been very helpful and accomodating re advice and valuations etc.,
My cars have increased considerably over the last 20 years and the insurers have taken an ever increasing annual premium from me - fortunately with me never having to make a claim.
Having said that, my insurance company have always been very helpful and accomodating re advice and valuations etc.,
So very true- I sold my '86 Supersport Targa 4 years ago for £16k and that was after several months and many time wasters! But for health and financial issues, I would still have it, never mind, better to have loved & lost etc! Steve Kevlin & I are happy to provide valuations but please bear in mind that both of us are busy and giving us plenty of notice is very much appreciated, obviously if you are desperate for a quick response, please let us know and we will endeavour to turn them round as quickly as possible. Albert Walsh, Register Director
Had my 88 66K mile mostly original paint and far far from needing rust repair targa valued at £50K. Madness. Irrational exuberance. Lunacy.
For an '88 66k is low mileage and that commands a high price for a good car. Madness maybe but reflects what you'll have to pay to replace it, that's the way prices have gone over the last few years. I haven't got to the bottom of what's fueling it but I think the rise has cooled off this winter. Spring, now it's here, could bring a new flourish.
Steve
Steve
bellaboots
New member
The value of any vehicle is what someone is prepared to pay you for it just drive it and stop worrying about its value cars stuck in garages are like houses they never move but still need a lot of maintenance
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