Mazda Rotary Club

General => Rotary and General Chit-Chat => Topic started by: leeroy_25 on May 02, 2017, 01:30:26 PM

Title: Valuing my 20B FD3
Post by: leeroy_25 on May 02, 2017, 01:30:26 PM
Okay.. always an interesting subject as it partly comes down to what people are willing to pay.. but it is getting time to insure my beast for the road and I will have to put a value on it. I am interested to know what peoples thoughts are on the value of a 20B convert FD3 in the current market.  I don't think too many have been sold in the UK which makes it tricky! I think maybe Mir20B sold his a while ago but not sure if it broke instead or what?
Thoughts please guy's.

Thank you
Lee
Title: Re: Valuing my 20B FD3
Post by: clive on May 02, 2017, 08:51:11 PM
Hi Lee,

You may or may not know that part of the MRC clubs membership entitlement.

Over the years I have carried out many valuations, with one letter for the insurance company and one for the owners file.

First of all many cars actually need to have an individual assessment made due to either the rarity or the extensive modifications that have been carried out.

First and foremost, whist market value has an influence, all insurance valuations are based on a replacement value should the car be a total loss.

I would normally ask for detailed pictures for file plus a list of mods ( I have had insurance company's question valuations)

Next question would be, are there bills to back up the cost of modifications should the need arise ?, and then obviously the overall condition of the car would be taken into account, then lastly I ask the owner what they think its worth and most end up undervaluing their own car !.

Sadly over the years I have seen many who don't bother with a valuation and then just get paid market value and end up just about nothing !

           
Title: Re: Valuing my 20B FD3
Post by: leeroy_25 on May 03, 2017, 01:13:45 PM
Okay.. What would a valuation from you cost as a one off? I will speak to the insurance and see what they say. My build is pretty well documented online.. Most parts are ebay/online purchases so I have some form of bill via e-mails if that counts plus a spreadsheet I have kept track with. Obviously the base car and engine would cost considerably more in today's market than I got them for a few years ago. That would be the main cost. I was assuming somewhere in the region of £25k maybe. Would certainly like another opinion. I know a guy in the US sold his last year for $55K USD. I think that was luck but then they are even rarer here than over there!? Tough one. Also more of a feared engine over here!
Title: Re: Valuing my 20B FD3
Post by: boosted on May 03, 2017, 02:37:30 PM
Full member for a year is £15.00 does that mean after joining valuation is free as part of club membership Clive? 

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Title: Re: Valuing my 20B FD3
Post by: LINAS on May 03, 2017, 06:10:25 PM
Full member for a year is £15.00 does that mean after joining valuation is free as part of club membership Clive? 

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Good day all . I'm insured with Needto Insure who I found to be able to cover my Rx with all modifications ( which is quite a comprehensive list ) including custom paint job. They don't do agreed valuation, but they insured my car up to 55k replacement value max , which I think we all need when modding.. market value replaces nothing!!!!! To boosted you should know that Clive's valuation is free as stated on the mrc site ... To Lee maybe try needtoinsure 01623720081 speak to Gary Shelton or John Priestman, hopefully they can sort you out ( don't undervalue replacing your car ) (NOT market value ) if unfortunately it's a total loss, which we hope never happens..... The only time we ever find out how good our insurance is , is when we claim ....... All I'd like is for an insurance company to give me the same exact spec car back if something happened or the £'s to replace it.. Anyhow Good Luck.. and have a nice day all. Cheers Linas


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Title: Re: Valuing my 20B FD3
Post by: LINAS on May 03, 2017, 06:21:32 PM
Full member for a year is £15.00 does that mean after joining valuation is free as part of club membership Clive? 

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Good day all . I'm insured with Needto Insure who I found to be able to cover my Rx with all modifications ( which is quite a comprehensive list ) including custom paint job. They don't do agreed valuation, but they insured my car up to 55k replacement value max , which I think we all need when modding.. market value replaces nothing!!!!! To boosted you should know that Clive's valuation is free as stated on the mrc site ... To Lee maybe try needtoinsure 01623720081 speak to Gary Shelton or John Priestman, hopefully they can sort you out ( don't undervalue replacing your car ) (NOT market value ) if unfortunately it's a total loss, which we hope never happens..... The only time we ever find out how good our insurance is , is when we claim ....... All I'd like is for an insurance company to give me the same exact spec car back if something happened or the £'s to replace it.. Anyhow Good Luck.. and have a nice day all. Cheers Linas


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Evening Lee ... Your 20B FD has got to be a lot more than 25k to replace.. don't know who built your car..But it may be worth talking to Carl Hayward, who built mine... and well happy with what he has done


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Title: Re: Valuing my 20B FD3
Post by: clive on May 03, 2017, 06:32:25 PM
Hi Lee, Linas.

Yes the valuation is part of the clubs membership/

Linas, pleased your now sorted :great:
Title: Re: Valuing my 20B FD3
Post by: LINAS on May 03, 2017, 08:13:52 PM
Hi Lee, Linas.

Yes the valuation is part of the clubs membership/

Linas, pleased your now sorted :great:
Cheers Clive.. took a lot of doing, par for the course.... See you Dartford Sunday 21st ... should be well Cool, looking forward to it ... and 10th June castle Combe , booked with Rx8club ... Have a Nice evening


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Title: Re: Valuing my 20B FD3
Post by: leeroy_25 on May 03, 2017, 09:31:20 PM
Hi Guy's.
Well I built the car myself! but cost of building something is not necessarily what it is valued at? Or is it? I thought it would be based on the sale value of the car which could be a whole different ball game! A 20B in general would cost much more than £25K I imagine if you sent it to a shop to do! Do you have a 20B or did Clive build you something else Linas?
Clive What is membership these days? Although I am sure I can find a thread on that!
Cheers
Lee
Title: Re: Valuing my 20B FD3
Post by: Casey on May 03, 2017, 09:37:08 PM
Clive What is membership these days? Although I am sure I can find a thread on that!

Click on the "Membership" button on the grey navigation bar at top of all forum pages for full details.

Full year's membership is just £15; got to be worth that for a valuation from the Club, surely  :)
Title: Re: Valuing my 20B FD3
Post by: LINAS on May 03, 2017, 09:47:39 PM
Carl Hayward built my car... not Clive


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Title: Re: Valuing my 20B FD3
Post by: leeroy_25 on May 03, 2017, 09:51:35 PM
Sorry.. Misread that somehow!! Thanks guy's.. I will speak to the insurance company tomorrow and see what they say I need for that side.. proof etc.. or if a written valuation will suffice.

Thank you
Lee
Title: Re: Valuing my 20B FD3
Post by: LINAS on May 03, 2017, 09:55:00 PM
Carl Hayward built my car... not Clive


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I.e. Hayward Rotary .... sorry not a 20b, but well cool + lots and lots of £'s spent.... It's a passion....How you built a 20B FD yourself I haven't got a clue... Linas


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Title: Re: Valuing my 20B FD3
Post by: LINAS on May 03, 2017, 10:02:59 PM
Carl Hayward built my car... not Clive


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I.e. Hayward Rotary .... sorry not a 20b, but well cool + lots and lots of £'s spent.... It's a passion....How you built a 20B FD yourself I haven't got a clue... Linas


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Lee . You will need recent photos, list of mods, NCD proof, driving licence copies etc, etc   Good Luck ... keep us informed ... Cheers Linas


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Title: Re: Valuing my 20B FD3
Post by: leeroy_25 on May 04, 2017, 12:58:13 PM
It has been a lot of hard work!! And still not finished!
Title: Re: Valuing my 20B FD3
Post by: leeroy_25 on May 04, 2017, 12:59:52 PM
The build is well detailed on my website in fact. www.rspowerprojects.co.uk. not quite up to date as I have been busy rebuilding my engine. Pictures for that are on my new facebook page @rspowerprojects if you are interested in seeing what has gone into it!
Title: Re: Valuing my 20B FD3
Post by: boosted on May 04, 2017, 08:33:36 PM
Awesome build threads....i think your a perfectionist!

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Title: Re: Valuing my 20B FD3
Post by: leeroy_25 on May 04, 2017, 09:20:04 PM
Thanks Boosted! my wife doesn't use such nice words!
So I spoke with potential insurers today and actually got a quote with a few things still ta of course. I was pleasantly surprised! The company I might go with is Sky Insurance as they did my last car. I have found them and A-plan to be best over the years. I will give them a bell too and maybe look up the people Linas suggested. So Sky insurance would get me a policy with Market Study who also did the cover on my last few cars. I mainly phoned up to ask about what the need in the form of a valuation and they pretty much said they wouldn't take much notice. The underwrite would deiced what it was worth and we would agree or disagree. They asked for build details and when I said it was documented online they said they would go through the build and I could send them a list of mods and give them a ball park value to work to.. 10mins later they were back with what I think will be a very hard to beat quote. but lets see. All that aside i think I will take Clive up on a valuation just to know for me where someone else with an eye for that sort of thing would put it. then I can either try for higher cover or drop accordingly.

off to sign up now!
Title: Re: Valuing my 20B FD3
Post by: leeroy_25 on May 04, 2017, 09:24:49 PM
Joined! Clive please can you let me know how we go about the valuation and how soon you can get around to it please. I am looking to arrange cover in the next week or two so hopefully you can squeeze it into that as I would love to have something other than my hunch to go back to the insurers with.

Thank you
Regards
Lee
Title: Re: Valuing my 20B FD3
Post by: LINAS on May 05, 2017, 08:26:37 AM
Joined! Clive please can you let me know how we go about the valuation and how soon you can get around to it please. I am looking to arrange cover in the next week or two so hopefully you can squeeze it into that as I would love to have something other than my hunch to go back to the insurers with.

Thank you
Regards
Lee
Amazing Lee ,Be really nice to see your car in the flesh to fully appreciate what you have achieved.. Well done ... used to be with Sky ,they would only do 20k max (and really wasn't happy with their wording, or in my Opinion a chap named Luke Tillbrook ) that's why I went to needtoinsure who were cheaper and it seems are now insuring my car properly...anyway of to work, Good Luck  Linas


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