Values

[Radiation Man]

Sorry if this is an often asked question but I can’t find an answer...

After 25 years away from owning a spitfire and gt6 I think I am back in the market having made space in the garage.

I was trying to find an upto date guide of what cars are perhaps worth as concours / a1 etc so I have a rough starting point.

Hope to be in a spit 1500 soon if I can find the right car.

Thanks

Ian

[Clive]

https://www.tssc.org.uk/tssc/uploaded_files/20 Insurance Panel Values Web .pdf

Those are for insurance valuations. Selling prices approx 2/3rds. 

[Radiation Man]

Thank you Clive, that’s really helpful!

[Nigel Clark]

Practical Classics magazine publish a classic car price guide, regularly updated by their market guru Russ Smith. You can download it here:

https://static1.squarespace.com/static/5d31c18a98e9ae0001ecd934/t/5e271cbe9e40e20770b6e954/1579621578638/IPAD+Price+Guide+March+2020.pdf

The TSSC insurance value of an A1+ Spit 1500 is £9,000, so using Clive's factor of 2/3 (which I agree is a good rule of thumb) that's £6,000. Practical Classics value a Condition 1 car at £5,250. It always helps to have multiple sources of information when trying to estimate the value of anything!

Nigel

[Radiation Man]

It does feel like values are all over the place... seen Spit 1500s where he asking price is 12k for what looks a nice original car but not concourse condition.  Found an even nicer looking mk2 gt6 that’s mega money.

[Paul H]

On 22/08/2020 at 09:50, Nigel Clark said:

Practical Classics magazine publish a classic car price guide, regularly updated by their market guru Russ Smith. You can download it here:

https://static1.squarespace.com/static/5d31c18a98e9ae0001ecd934/t/5e271cbe9e40e20770b6e954/1579621578638/IPAD+Price+Guide+March+2020.pdf

The TSSC insurance value of an A1+ Spit 1500 is £9,000, so using Clive's factor of 2/3 (which I agree is a good rule of thumb) that's £6,000. Practical Classics value a Condition 1 car at £5,250. It always helps to have multiple sources of information when trying to estimate the value of anything!

Nigel

just checked on the above price guide and the Mk2 Vitesse Saloon is £7.5k for councours , maybe this is used by dealers when purchasing their stock 

Paul 

[Colin Lindsay]

On 22/08/2020 at 09:50, Nigel Clark said:

Practical Classics value a Condition 1 car at £5,250. It always helps to have multiple sources of information when trying to estimate the value of anything!

Nigel

We're blinkered when it comes to 'our' cars, love them, look after them, and get a real feel for their worth. Others... don't. Go to any large show and listen to the comments about Triumphs - most often the ones I like, Gt6, Herald etc: poor panel fit, unreliable, rusty, noisy, cramped, cheap... so whilst our values reflect what we feel, other values tend to reflect what others feel, or believe the market wants, so are more likely to be lower.

It's a funny thing but I've often found, particularly at local shows, that the most prized cars, and therefore the more expensive models, are the standard family saloons that have been owned for generations, or which are the cars that people remember from their childhood; not the convertibles, or sportscars. 

[Paul H]

This applies to our other possessions . My daughter wanted to upgrade her “home made “ pod caravan and initially they thought £450 was a fair price . I valued it at £850 so £800 was settled on with not much confidence . The pod went on Facebook and in 10 mins 30 enquires including s friend who said it was worth £1000 , they changed the price to £1000 apologising for the change , sold within minutes . In this instance there must have been a post Covid influence 

Paul 

[Nigel Clark]

2 hours ago, Paul H said:

just checked on the above price guide and the Mk2 Vitesse Saloon is £7.5k for councours , maybe this is used by dealers when purchasing their stock 

Paul 

The Practical Classics guide explains its ratings thus:

'Prices are researched from several sources, including clubs, auctions, the trade and advertisements online and in print. Prices are reviewed and updated every issue. Our C/D rating is a basic guide to what you can expect to pay (£) for the best examples of a model, a concours car or something from a dealer. CONDITION 1 means well-presented cars that have no obvious faults. CONDITION 2 cars are capable of regular use. They have a current MoT certificate but will need work and/or original parts. CONDITION 3 cars usually need a full rebuild, but may be driveable and MoT’d. PLEASE NOTE You can’t value any car without seeing it – don’t buy blind.'

The implication is that when buying from a dealer a good condition car  (say Condition 1) will cost about the same as a concours car bought privately.

Buying through a reputable dealer, with the back up that offers and the dealer's overheads to cover, will always cost more than buying privately. Of course in a private sale, there's no come back for any unexpected problems.

I recently bought a Nineties BMW from a classic dealer. A week later  the catalyst failed, nothing that could have been predicted by either the dealer or myself. I took the car back and he had a new cat fitted at his expense. Try that with a private vendor!

Nigel

[Radiation Man]

Thanks for all the input.  Very helpful.