Valuation.......
 

............................ I need to be able to prove that The Flying Banana is worth increasing her insurance value following the recent respray.

I have already asked Reebs, who is going to supply me with a certificate of her rarity. I know that no.4 of the 4 produced recently sold for £7,495, well that was the asking price and the car did sell.

Anyone have any idea on how I could get the car valued?

Hi Bob,
I would try one of the main MG owners clubs, most insurance companies will accept their valuation for an agreed value policy.

I know this was accepted by insurance companies when I belonged to the TSSC.

:shrug: Surely there are companies that will do a Classic Car Appraisal and give an evaluation that would satisfy the Insurers.


*edit - a quick Google search suggests there are various companies offering such a service ;)




Paul.

I have just done a search and I can’t find anything except insurance companies. Haggerty looked promising so I tried their site and launched their valuation tool but it doesn’t list the ZT

Agree this is a good starting point.
https://www.mgownersclub.co.uk/contact-us
For MG Quotations, New Cover, Renewals, Agreed Valuations Insuring Non-MG Classic Cars, Modern Cars Tel: 01480 400829 - Instant Quotes and Immediate ...
Are you still a member Bob?

Yes still a member. Will give them a bell in the morning.

:shrug: I get a load of results - I can't vouch for any specific companies - this one here https://proline-paint.com/valuation/ says all the right things tho £34.95 for a valuation that is "recognised by Insurers"

may be worth digging a little deeper ;)



Paul.

No way can they value a car without seeing it


Sent from my iPad using Tapatalk

In all fairness that particular site does ask for images - so, although not in person they do "see" the Car.

bear in mind this is for Insurance purposes NOT a "For Sale" evaluation.

I doubt any physical inspection will be required for such an evaluation :shrug:


I know nothing of that particular company however - merely sharing an example of what i found with a search ;) i'd scout about a bit i'm sure there are more than a few options :}



Paul.

Most "agreed value" policies I've ever had, require an independent valuation from a recognised owners club, along with photographs (non digital) to be supplied upon inception of the policy.

Further to this, the "agreed value" normally stipulates that the cost of any "restoration" is not necessarily factored into the valuation process.

So to sum up, the MGOC will be able to supply the valuation, but it may not necessarily match your expectation of perceived value, or indeed reflect the monies that have been spent.

Also be careful in quoting the sale price of "similar" vehicles, as the insuring underwriters are not likely to equate a low mileage diesel ZT to that of a high mileage petrol ZT based upon the only common factor of the cars being the same colour when ordered from the factory.

I've always found this to be a problem in the past, where restoration costs far outstrip the vehicle's worth, and that is even where labour costs are not a consideration.

Hopefully you will find a solution Bob, have you contacted your current insurer to see what their take is on the situation, often a phone call or email will solicit the information you need ;)

Brian :D