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Post by Colin McA on Mar 2, 2014 22:35:12 GMT
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Post by Phil Nottingham on Mar 2, 2014 22:42:28 GMT
I agree but for that price I would buy a Bentley R Type!
Its not BRG either!
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Deleted
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Post by Deleted on Mar 3, 2014 9:39:07 GMT
Looks lovely apart from the silver belts. Might be around for awhile at that price!
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Post by Roy of the Rovers on Mar 3, 2014 13:55:47 GMT
I know that car! Used to belong to a local member who had lots of trouble with dirt from the petrol tank making the engine cut out. It happened so often the car lived in the owners garage rather than out and being used.
It turned up last year to the South East Rover Rally I help run. Its the first time I'd seen it in many years. It is a VERY clean car! No expense spared.
As for the price, what is top money for a top car nowadays?
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mh007
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Post by mh007 on Mar 3, 2014 15:02:24 GMT
I agree but for that price I would buy a Bentley R Type! Its not BRG either! It is a hefty price tag ! Is the colour Arden Green perhaps ? |
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Post by Mr Pelham on Mar 3, 2014 16:00:37 GMT
Mmm... Just under 3 grand seems very interesting...oh no wait 30grand!!!!
I could replace all the rust on mine for solid gold and diamonds and it still wouldnt be worth that!!!
Its worth whatever value it realises and if i had a big pile of money i would love to have such a low mileage original car, assuming all is as it should be. Whatever colour it is its not as green as my envious eyes.
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Post by Dean Hovland on Mar 5, 2014 20:10:17 GMT
I think your underestimating the value of your cars .
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Post by guidedog on Mar 5, 2014 22:33:54 GMT
I agree with you Dean, It would nice if this is the case my little baby has 43,000 on the clock, That could make mine at £ 25,000  |
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gollop
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Post by gollop on Mar 8, 2014 22:28:47 GMT
I reckon mines in as good nick, my carpets are certainly better. 40k anyone
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Post by guidedog on Mar 9, 2014 15:37:25 GMT
In all serious lady's & gentlemen if the car in question achieves 25% of its asking price. I think we should think about revaluing our cars.
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Post by Mr Pelham on Mar 9, 2014 20:07:49 GMT
Salient point Guidedog, i am going to re-evaluate my agreed value as i wouldnt get much of a P5 with the current value which i have.
Not going to up it to 30 grand but the amount i would need to replace mine with something to equal standard if the worst happened (going off a bridge into a river perhaps film fans!!!)
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Post by PeterMadden on Mar 14, 2014 15:35:09 GMT
Guidedogs point is very appropriate.
This car sold for 'an offer very near it's asking price', the vendor reports that he could have sold it several times over and would very much like to get more.
We are looking at giving some updated guidance on car values to valuation officers.
In my personal opinion these very high prices will only be achieved by extremely good cars that have something extra, like very low mileage, not that very low mileage is necessarily a good thing.
I think in the past people have perhaps thought that they shouldn't seek to place too high an agreed value on a car. Now if an insurance company consider it is set too low they will consider you to be under insured and this may affect payouts particularly when a car isn't or perhaps shouldn't be a total loss.
Demand for high quality cars continues to be strong and supply of the same is limited.
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Deleted
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Post by Deleted on Mar 14, 2014 16:51:19 GMT
Thanks for the update Peter. I believe the car sold quickly because it was a good one (even allowing for the silver seat belts!)but I'm not sure that it fetched close to forty thousand.
Having witnessed similar situations before it can be that both seller and buyer feel a big "status push" by agreeing that an inflated price was achieved. I dont know that that happened here but it is entirely possible. Do we know who valued it and for how much it is now insured? Was there an inflated trade in?
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Post by PeterMadden on Mar 14, 2014 19:10:18 GMT
Evening Peter,
It was listed at £29k.
I presume it was valued by the garage I'm not aware if it was ever valued by the Club, it's not a car I know of personally.
From conversations with interested parties I am told that Hurst Park would expect to achieve a sale price in excess of £20k for a very good P5B Coupe.
If nothing else it makes me feel a little better about spending some money on my car!
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Deleted
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Post by Deleted on Mar 14, 2014 20:52:47 GMT
Guidedogs point is very appropriate. This car sold for 'an offer very near it's asking price', the vendor reports that he could have sold it several times over and would very much like to get more. We are looking at giving some updated guidance on car values to valuation officers. In my personal opinion these very high prices will only be achieved by extremely good cars that have something extra, like very low mileage, not that very low mileage is necessarily a good thing. I think in the past people have perhaps thought that they shouldn't seek to place too high an agreed value on a car. Now if an insurance company consider it is set too low they will consider you to be under insured and this may affect payouts particularly when a car isn't or perhaps shouldn't be a total loss. Demand for high quality cars continues to be strong and supply of the same is limited. When I renewed the Insurance on my P5b Saloon last year, I increased the agreed value to £10k.This was done without an independant valuation but I had to supply plenty of photographic evidence and find other Saloons selling circa £10k and there weren't that many around. Coupe's are more sought after, and therefore more expensive, so perhaps Peter's words about an updated set of guide lines for valuation officers might be good sense. I also think there is exceptional demand for excellent originality probably more so than a rebuilt car unless the rebuild work has been done to the standards set by John Wallet.It's also clear that the valuation gap between the P5 and the P5b is going to get even wider because the P5 is not particularly sought after. I recall dealing with a club valuation officer some years back and we never got as far as meeting because I had the distinct impression that he was going to seriously undervalue my car. Hopefully, attitudes have now changed. |
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Deleted
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Post by Deleted on Mar 15, 2014 11:02:31 GMT
I stand corrected. That takes care of the first 10k I couldn't believe! Hurst Park's number seems about right. 24/25k is on as far as I'm concerned when the car is perfect and there is no competition.
Its good prices are moving up. There aren't just 3.8Mk II's ou there and this club and this forum will have played it's part in that process. 5 years ago there was quite a lot on offer but there is hardly anything now.
Will be interesting to see if P5 prices rise as P5B supply remains dry. Phil has been pushing them as superior for long enough!
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Post by lagain on Mar 15, 2014 18:52:19 GMT
Slightly depressing, really, our cars should be driven and enjoyed, which I shall continue with mine.
With rising values will come increased theft, we need to take all possible precautions. One suggestion is that if you garage your car away from home put it on blocks, if it is left through the winter and take the wheels home.
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