Jump to content

Nice Mk2 Spitfire for sale


Paul H
 Share

Recommended Posts

And yet the Courier insurance valuations page shows a concours mk4 at £12k.

We all know prices are going up, but the insurance page remains the same, year after year. 

I brought this up a couple of months ago and was assured it was reviewed annually. 

Maybe someone with a pile of old Couriers could tell us how long a concours mk4 has been £12k

Doug

Link to comment
Share on other sites

That is a really lovely example of a MK2 with everything original and just like it came from the factory. I'm really glad that it exists and that somebody has spent so much effort to make such a perfect example, but I wouldn't buy it, or even want to own it and I can't imagine why anybody would. I'll explain myself by relating how I spent today. I got up early and was on the road to Brands Hatch, in my Mk 2 Spitfire, before 8am for a day of watching mixed club racing. From Eastbourne that's a drive of about 90 minutes and I really enjoyed keeping up with the pace of the moderns on the A and B roads and the M25 too. I keep to the speed limits but I drive it in the way it was intended to be driven. Today was perfect top-down weather but I would have taken the Spitfire even if it had been raining. And this is my point; mechanically, my car is how I want it to be. I have cut out all the rust and replaced anything suspect with strong repairs. It has modern electrics. However, my comedy respray could be used as a teaching aid for all the possible faults that you can get with poor spray technique and that stops me getting too precious about the car. It will never be perfect and I have made too many modifications for it to be an 'example of the breed' and so it isn't an investment either. It's my daily transport and I really enjoy driving it.

I'm sure that I wouldn't be happy driving this perfect Spitfire as I would always be feeling that every mile makes it less perfect without hours of cleaning and touching-up every week and it could only be a "garage queen'. Some people might see it as an investment and I'm sure that values will continue to rise for a few years but what happens when petrol becomes less widely available? How long do we think that we have left of the current availability? 10 years? less? Perhaps it could be converted to electric but that would rob it of all its charm for me, and so it isn't really a sound investment either.

So, not only wouldn't I swap my shabby looking Mk2 for this one I can honestly say that I wouldn't want it at any price. It isn't a sports car it's a museum piece and the responsibility of ownership is too great.

Adrian

 

Link to comment
Share on other sites

18 hours ago, dougbgt6 said:

And yet the Courier insurance valuations page shows a concours mk4 at £12k.

We all know prices are going up, but the insurance page remains the same, year after year. 

I brought this up a couple of months ago and was assured it was reviewed annually. 

Maybe someone with a pile of old Couriers could tell us how long a concours mk4 has been £12k

Doug

Spitfire4 concours value 22k, mk2 19k. So the advertised car is valued as per insurance value, (sales values usually about 30% under insurance valuation, so the values may need looking at??)

I remember 25 years ago, the late cars always had greater values than earlier, after all, who wanted a mk1 GT6? now of course that is all reversed with the earliest cars being the most sought after. 

As to how long a concours mkIV has been valued at 12K, a while I would suggest. But probably the least desirable model? (this is from somebody who owns the earliest mkIV in the country I believe, though not very original) But I agree with Adrian. Owning a mint car is a worry. Our mk3 is extremely good, and that has been hit twice by other drives while we have been stationary in queues. All in a couple of thousand miles. My mkIV has been hit once, same circumstances, driver accelerated from standstill in a stationary queue for some mad reason. Gets annoying!

Link to comment
Share on other sites

42 minutes ago, dougbgt6 said:

Ah, in my lethargic lock down state I've mistaken a 4 for a IV :wub: However my question about insurance values remains. I'm assured the Courier page is annually reviewed, but WHEN was it last amended?

Doug

February 2020, previous change was sept 19 though I didn’t notice any changes though wait to be corrected

Paul 

Link to comment
Share on other sites

  • 1 month later...

Hi All

Com are constantly looking at insurance valuations as the market is always evolving, approximately three years ago we started putting the date of the last review on the bottom of the valuation sheet, last review Feb 2020

Some cars values change a lot others not have not changed a lot in years,  it all depends on the market for that vehicle.
 

Insurance valuations are to cover the vehicle in a total loss situation and are only a guide, vehicles can be valued over the guide price as well as under.

Vehicle rarity and condition as well as originality or modification can all have a huge effect on value.

I hope this helps 

 

Chris 

Tssc chairman 

Link to comment
Share on other sites

thanks  and yes  but many see the 2018 has the same figures as feb2020   so in 3 years there been no upward or downward trends ...really ???

certainly if buying the trend has been upward increasing values buying has not been static ???

as for 2000 salo0ns i dont see the logic of a A1+ being£ 6300  and a shift to concours makes suddenly  £13000

mine isnt concours but doubling puzzles  me and ive just valued a TR5 at £80,000  so yes i do a good few valuations over the year .

Pete

 

 

Link to comment
Share on other sites

On 04/08/2020 at 12:10, Pete Lewis said:

  a concours jumps to £13000 ..................  Nuts !!!!!!!!!

Pete

 

33 minutes ago, Pete Lewis said:

ive just valued a TR5 at £80,000  so yes i do a good few valuations over the year .

Pete

Concours usually is... nuts... when they get to the stage of wiping the inside of the exhaust to see if it's clean, that's a bit excessive. At one show a while back the only way they could pick a winner from two identical Fords was to debate the condition of the paint on the boot floor. 

However: discussion time: £80,000 for a TR5? It's all very well claiming a high price for a car, but Insurance Companies are going to start raising premiums to cover these excessive values; the values of our cars seem to be rising very fast, and it's not reflected in the sale prices or on the market. Insurance Companies won't lose money, believe me. If they start paying out seriously inflated values, they'll hit us all in the pocket.

Link to comment
Share on other sites

If you are paying a top end company to restore your TR5 at £100 ph or whatever, it does take long to get to £80k, once you have purchased a starting point, which will probably cost you £25k. So cost to replace with the same will be much more,

Most classic insurers load the policy of the insured against value, but it only needs a couple of big payouts and especially if they are "dodgy" and every one will pay.

The big saloon prices are definitely not quite right in my view.

Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
 Share

×
×
  • Create New...