Agreed valuation: Spitfire Mk1

[mrgarybrooks]

Hi Everyone,

 

Haven't been on here for a while - but it's great to be back! Just wondered if you could help me. A few years back I restored a Spitfire Mk1 back to full working glory. It's not concours, but it was a nut and bolt up job retaining all the original bits I could to give it the right period feel.

 

I have an agreed valuation of £7000 but would really like to know your thoughts on whether this should be more. As you can appreciate, the Mk1 is a rarity these days so estimating a price that my insurer will go with is tricky (obviously I'd like it to be as high as possible) as there are few sales to compare it against. 

 

I've attached a pic for your reference. What target agreed value should I go for?

 

Best wishes,
Gary 

[Darren Groves]

Hi Gary,

 

No pics attached to your post.

 

The latest car values are here: http://www.tssc.org.uk/tssc/uploaded_files/2017%20Insurance%20Car%20Values.pdf

 

If you get the valuation done at one of the TSSC events, you can certainly have a bit more influence over what the valuation comes out at.

 

Darren

[dougbgt6]

Gary, if your car is in the same condition as "several years ago" it could well have doubled, or more. As Darren suggests read the valuations and the application form definitions of condition, A2, A1, A1+ etc and then you'll get an idea.

[mrgarybrooks]

Thanks Darren and dougbgt6,

 

Appreciate your advice. I changed my agreed valuation in line with the club recommendation (I was clearly way off the mark!). Just need to ping the insurers a few photos as confirmation.

 

Once again, thanks for replying.

 

Best,

Gary

[Pete Lewis]

If you use a club panel insurer send photos and form to Hq

 

let them mediate with the ins co.

And agreed value is backed by the club

 

if its not a panel insurer your on your own

 

pete

[Guest]

Hello Gary.

 

I phoned all the TSSC Insurance Panel companies and the quotes went from mild to wild - I did a separate thread on this about a month ago.

 

In the end I went with Peter James due to price and package - each applicant will have different quotes but it's certainly worth taking 30mins out to contact them all and I think you may be surprised by the differences. I should say that I was unable to contact Lancaster as their phones seemed to be down on the day.

 

Then had the Vitesse valued at the SEM and all sorted.

 

As Pete says it is a gift that TSSC are lucky to have and for members to benefit so I would urge all to think about getting an Agreed Insurance Value carried out.

 

Good luck.

 

Richard.