TR6 Valuation - get in!

[Trigbush]

So I arranged for a valuation of the 6 to be undertaken this morning.

 

A very nice guy called Gerd Beets from Automotive Consultancy. Apparently, he has a Healey BN7 so can't be bad.

 

I was rather pleased as he seemed very impressed with the full history file (including the original invoice), factory hardtop, original trim and an overall very good condition including a solid chassis. He described the 6 as a "3-plus" condition car. The paint on the bonnet is over 400 microns thick which shows it was nicely restored in the early 90s.

 

He said the car was sound and that I had made a good decision buying it which made me feel great. He said it would be difficult to find a better unrestored 6 with such a history file in Belgium.

 

He did point out two minor points:

 

- panel gaps (I said this was not unusual on a 6 and many left the factory with this issue and he himself anyway described perfect panel fit as "over-restored"); and

- minor spots of filler (bottom of passenger door edge and sill but very minor - I had not even noticed).

 

Taking into account the price I paid and the cost of the recent work I had done, he agreed the insurance value at a level to cover both and I am pretty happy with that. If you have not done it for your car, I would certainly recommend it - very useful for peace of mind and for dealing with insurers.

 

Cheers

 

Gavin

Edited September 12, 2013 by Trigbush

[Kevo_6]

Hi Gavin

 

Always nice to hear good news. Well done.

[Trigbush]

Cheers Kevo

[Denis]

I for one have absoloutly no interest in the value of my TR, it's just a motor car I desired back in 1972 and still own and tinker with as one of my many hobbies. It's a member of my family and therefore is beyond a mere price...I've left it in my Will to one of my sons.

Edited September 12, 2013 by Denis

[Tony Millward]

Denis, will you adopt me please?.....

 

Tony

[PaulAA]

Hi Gavin

 

I have as similar but different experience with a valuer. I was obliged to have a condition and value report prepared as part of the process of registration, for which the Polish Motor Association recommended an Expert (with a capital ‘E’). Being of a certain age, not of Polish origin and with an engine in excess of 2 litre, the most expedient way to register the car was as an historic vehicle (hence the rather twee yellow registration plate visible in my signature, below).

 

Needless to say, TRs are not very common in this part of the world, but The Expert had prepared reports on MGBs, Spitfires and the usual German and Italian suspects and he was delighted to be able to notch up a proper car at last.

 

He did the inspection in two visits and prepared the way for the life-time MOT inspection as the third part of the technical procedure. He studiously overlooked the 5mm misalignment on the bonnet and the generously wayward panel gap around the passenger door, but was sufficiently well prepared to be able to comment sagely on specific areas of variation from factory build, advising me to source an original steering wheel and 165/15 tyres, all of which he noted and included in his final report.

 

He brought spot lamps and tripods galore and photographed the car extensively. He consulted Glass’s and decided that it (somewhat improbably) qualified for the top category and the top book value, which he then wrote down slightly to account for the unknown condition of the engine (the inspection was, after all, a static one).

 

At the end of the statutory process, we received a rather nice certificate, announcing that the car had been entered on the nation Register of Antiquities as (I paraphrase a little) a ‘moving piece of art’. I like this description enormously.

 

The downside is that I need an official permit to take the car out of the country, even for a trip. There needs to an assurance, after all, that this National Treasure will return.

 

Cheers

 

Paul

[KOB]

My experience of valuations and insurance companies is a horrid one.

 

My 6 has one of the rare Heritage shells that had panel gaps better than original spec, the shell was stripped and refinished to Audi body shell standards by a local very reputable body shop with full photographic record.

 

The chassis was remanufactured where required in my own workshop. I own a medium sized manufacturing company that has a precision sheet metal work shop. The work being carried out under supervision of the foreman by two apprentices. Full photographic record.

 

The vehicle was re assembled using all new parts where required, suspension, brakes, steering, etc.

 

The vehicle has covered 7000 dry miles since the rebuild

 

I took out a policy that was on agreed value the value being subject of an independent inspection to be submitted when available, so the value for the sake of cover commencement was set at 14K

 

I engaged at my cost a local 25 years established classic car repair/restoration company to undertake a valuation of my 6. This company were not previously known to me as I had only recently moved to the area.

 

Valuation made on the of the vehicle condition but also on a replacement like for like basis in the open market , valuation given 22-24K

 

Insurers first response was............They will not accept the valuation on the basis that no TR6 is worth that figure and that I must have a previous record of dealings with the specialist.

I of course contested their position and requested their evidence of both rejection claims.

 

Insurers 2nd response ...........Of course no evidence of either rejection claim but their position changed to that of acceptance of the value but an increased premium to cover the valuation. I have no problem with this position as the provisional value would have set the premium and there is now a higher risk/liability the increase in premium was only £20 but they required a £40 admin fee to implement the cover. I refused to pay the admin fee on the basis the contract entered into was on the understanding that this was an agreed value policy and therefore it was implicit that there may be adjustment either way when the formal valuation was submitted.

 

I await Footman James next attempt to extort more money from me. has anyone else similar experience with either Footman James or Agreed value policies ?

[stuart]

Should have gone to Towergate. Talk to Denise or Sue 01235516333

Stuart.

[Andrew Smith]

Should have gone to Towergate. Talk to Denise or Sue 01235516333

Stuart.

 

Yep, all day long - forget the rest.................

 

Cheers

Andrew

[Guest ntc]

Yep to the above

[KOB]

That's were Ill be heading

[Trigbush]

@Denis. I share your view and your passion.

 

However, as a member of a younger generation, not having benefitted from super inflating equity house and car prices and final salary pension schemes, I shelled out serious cash for indulging my passion and it's good to have the peace of mind and protection.

[radiocheck]

I love the story from PaulAA n Warsaw. I think to have your car given official status as a moving piece of art is excellent.

 

And yes it is a national treasure too!

 

Seriously though, I think our cars tell the story of our national industrial heritage. Damn, we should all be given lottery grants to keep them on the road?

 

Yeah right...

[cp7535he]

The Tr Action mag has the TR Register Insurance Scheme ~ ideal for UK Trs ~ Tr Register Insurance Scheme via 0845 250 835

Robin Gwtr

[Andy K]

My experience of valuations and insurance companies is a horrid one.

 

My 6 has one of the rare Heritage shells that had panel gaps better than original spec, the shell was stripped and refinished to Audi body shell standards by a local very reputable body shop with full photographic record.

 

The chassis was remanufactured where required in my own workshop. I own a medium sized manufacturing company that has a precision sheet metal work shop. The work being carried out under supervision of the foreman by two apprentices. Full photographic record.

 

The vehicle was re assembled using all new parts where required, suspension, brakes, steering, etc.

 

The vehicle has covered 7000 dry miles since the rebuild

 

I took out a policy that was on agreed value the value being subject of an independent inspection to be submitted when available, so the value for the sake of cover commencement was set at 14K

 

I engaged at my cost a local 25 years established classic car repair/restoration company to undertake a valuation of my 6. This company were not previously known to me as I had only recently moved to the area.

 

Valuation made on the of the vehicle condition but also on a replacement like for like basis in the open market , valuation given 22-24K

 

Insurers first response was............They will not accept the valuation on the basis that no TR6 is worth that figure and that I must have a previous record of dealings with the specialist.

I of course contested their position and requested their evidence of both rejection claims.

 

Insurers 2nd response ...........Of course no evidence of either rejection claim but their position changed to that of acceptance of the value but an increased premium to cover the valuation. I have no problem with this position as the provisional value would have set the premium and there is now a higher risk/liability the increase in premium was only £20 but they required a £40 admin fee to implement the cover. I refused to pay the admin fee on the basis the contract entered into was on the understanding that this was an agreed value policy and therefore it was implicit that there may be adjustment either way when the formal valuation was submitted.

 

I await Footman James next attempt to extort more money from me. has anyone else similar experience with either Footman James or Agreed value policies ?

I have a 1976 Norton Commando with Footman James, agreed value, no problems. When I wanted to add another old bike they didn't charge me any more for the privilege of having two on the policy. So they must have been having a bad day when you phoned?

My TRs are with Towergate. Great bunch, lovely to deal with.

My cars are with Towergate. Brilliant bunch.

[Andy K]

I have a 1976 Norton Commando with Footman James, agreed value, no problems. When I wanted to add another old bike they didn't charge me any more for the privilege of having two on the policy. So they must have been having a bad day when you phoned?

My TRs are with Towergate. Great bunch, lovely to deal with.

My cars are with Towergate. Brilliant bunch.

Sorry. One return too many. I wondered where that first line went!