Agreed valuations

[Mike F]

Following on from the insurance thread...

http://forum.earlybay.com/viewtopic.php?p=32652#32652

... Aon have said I can get a new agreed value from this forum.

How best to do this?

We need someone who has headed notepaper to write an agreed value, the original goes to them and once copied is posted to the owner.

Your thoughts please...

 

[Guest]

/raises hand

i'm definitely up for this

 

[Anonymous]

yes this is something that has come up before - I think we need to organise this on a semi-official basis ...

 

[Araon]

So whats the criteria to offer agreed valuations then????

This I think would be of great interest to most people on here no one likes to think the worst will happen....you just need to look back to NADZ experience....

 

[Justin & Muttley]

So whats the criteria to offer agreed valuations then????

This I think would be of great interest to most people on here no one likes to think the worst will happen....you just need to look back to NADZ experience....

^^^WHS - I'd be interested to know how much my van is worth...

(Note to Jabbo, SlammedKustom, Scampi, Easy, Grazy, Araon, Johnny etc - It will not be considered funny to reply offering valuations of 99p or similar on my van!)

 

[Araon]

Yeah 99p a bit steep :lol: :lol:

 

[Justin & Muttley]

Yeah 99p a bit steep :lol: :lol:

I knew one of you wouldn't be able to resist - there's a nasty Chinese Burn heading your way at the next VW show... :evil:

 

[jabbo]

^^^WHS - I'd be interested to know how much my van is worth...

(Note to Jabbo, SlammedKustom, Scampi, Easy, Grazy, Araon, Johnny etc - It will not be considered funny to reply offering valuations of 99p or similar on my van!)

Why am I at the front of the list?! Are you suggesting I'm the tightest?

Because I am. :lol:

 

[Tofufi]

My insurance company argued the value of my van when I valued it myself.

Knocked my value down by £500, which I wasn't too happy about. When I've got the new front panel on I'll be demanding they raise it again

An official valuation thing would be good

 

[bananacustard]

I joined the T2OC just so I could get a valuation. My insurance company wouldn't accept the valuation given by the VW specialists who regularly work on my bus and insisted I get a valuation from a club official.
This is less than I believe my bus is worth. Also the T2OC valuation officer said that it's not significant to the value how early my bus is (January 1968.), the age is irrelevant. I don't agree with this. An early bay is obviously more desirable ( and sought after) than a late and they are fetching more money than lates in the VW market at the moment.

Therefore it would be excellent to have an informed, semi official, early bay valuation service.

 

[carole]

I agree entirely with bananacustard. I too joined the T2OC primarily to obtain an insurance valuation, however came across the same hurdles.

Without a doubt, and for whatever reason, early bays are now beginning to command fairly high prices, some would say comparable to split prices.

I personally see this 'trend' continuing, although it is also fair to say that split and (good) late bay prices are also rising, as are T25's.

I sold my last (late) bay for over £10k, and it still owed me money (!) Although I suspect that the T2OC would have valued it at a bit less than that......I don't think they are huge fans of non-stock vans.

No insurance company worth it's salt is going to accept any 'valuation' unless it is from a recognised and respected scource. I'm not saying that the T2OC is not either of these things, however at present they perhaps don't recognise the early bay as a model in it's own right.

Like anything new, it has to start somewhere, and as time goes on the knowledge and expertise will be recognised.

As a 'group' perhaps we should get our heads together, gather the experience on the forum together and come up with a 'plan', perhaps devise a points system or similar (like the SSVC) for insurance valuations.

For the time being, I for instance keep all my receipts, photograph everything I do on the van and keep an eye out for private ads etc that reflect the current market so if the worst thing happens, I'm prepared to battle with the insurance company. Hopefully it won't ever happen!

 

[Guest]

Totally agree with banana and Carole. Insurance companys and valuers have to realise that times are moving on Ebs re commanding premium prices (looks at SRs) £15K for a mint van isnt out of the question.

Valutions have to be honest, as you would expect to be able to replace what youve lost. Best place for an honest valuation? id guess here, as we have a quite a few people who know their EBs inside out.

 

[Araon]

So how do we get a status of evaluator then?

I am sure many of our community are set in the position of owning mint, solid or irriplaceable vans that would be difficult if not impossible to replace.

And the only solace is a fat cheque to enable a decent search for something to replace their pride and joy.

I'm a realist and understand that it could never truely recompense the hard work and sheer time and love that has gone into them but we should at least be able to claim market value for comparrible vans..

Does anyone know what is actually involved? I guess a points system is used with a check sheet with accurate documentation and some form of registration.....

 

[pete nice]

I have done a few valuations for people for their insurance.

I talk to the owner directly & find out any unique history of the van, ie, one owner, original paint, owned by the pope etc. Those things can add to the value of a vehicle. You could argue that in fact it adds no value & is only to do with condition.

Anyway. I work on a lot of vans & usually ask my customers what they paid for their vans. I have seen some bargains & some horrors too!

I can tell quite quickly the difference between a good van & a bodged up one.
It helps if there are receipts & photo's of any resto work, but even looking at one blind with no info it is possible to value it.

My first question is to ask the owner what they think it is worth. That's the best place to start & see if I agree.

I do insist on seeing the van in person as photo's don't tell the whole storey.

I could do valuations at various shows for EB members if they are stuck.

Visit my website if you havn't already - http://www.sosvw.com

 

[NADZ]

The problem I had was a very helpful insurers but an engineer(who wasn't working for the insurers)Who was a "old" divvering git.
Straight out of the old buffers school of reality.Who remembered when parts of the world map were still painted in pink :wink: He was just so scareily out of touch.And just didnt understand what all the fuss about an old vw was about.I mean first question he asked was "Why is it lowered". And he is the first person the insurers talk to about your bus :roll:

 

[Tim B]

It took me 4 months of messing about to get the agreed valuation on my van. The insurance company wanted photos and a writen valuation from a long established club. They also wanted any adds for vans in similar condition showing the prices people were asking but surprise surprise I couldnt find any. I joined the London and Thames Valley club as they claim to be the oldest. As I am living in Jersey the club accepted a disc of about 50 photos, it took some persuading but in the end they agreed to write up a valuation of £ 20k. The insurance then agreed to do the same. However after my weekend at Vanfest I think this may well be to low but trying to convince them wont be very easy :?

 

[Mike F]

Tim - your van is beyond valuation!

 

[Justin & Muttley]

Priceless and irreplacable...