RHD Sunroof 356 B t-5 market value

[Ren]

Hi all, my insurance co keep mucking me about regarding the value of my tub.

It was insured for £20k but was not garaged. It is garaged now so they can insure it for its correct value.

But what is the market value of a RHD B T-5 with sunroof and lots of GT parts?

Engine rebuilt less than 1k miles
Gearbox built less than 5k miles
New GT interior
New GT Deck Lid
New GT Mirror
Les Leston
Wheels all painted with new tyres.
Stainless Steel Sebring Exhaust. Etc etc etc.

Body work is solid but needs restoration (just had new battery tray and left longditudinal).

Body work condition B.

[roy mawbey]

I notice Ren you have no replies to your question. Well, looking out of my window its snowing hard, its warm inside , I'm retired and although I have plenty to do outside in the garage I can't face it today, so I will share my thoughts with you on this difficult subject.

Firstly, glad the car is in the garage that helps no end. Valuation is not so easy it all depends IMO on the condition of the body and structural items underneath. Mechanical items are one thing the sheetmetal work the another. You know probably as well as me the time factor to turn a car that really needs bodywork into something very presentable can be a very expensive matter. If I were to access a cars value the bodywork condition would be my highest priority.

Is the car matching numbers with known history? The 356 will run well with all sorts of modification to running gear but the running gear has to be seen to be mounted to good sound metalwork. It all comes down to that. Is the interior original in good condition for its age or has been well restored?

Your valuation of £20K I guess represents a car that runs well has an MOT and looks nice from a few feet away in other words a nice driver. If you could do the bodywork yourself and spray it and if the history is there the value might increase considerably depending on how its done. If you have the work done professionally and it really needs a full stripdown etc, who knows to cover the cost you have expended the value then should be around £35 -£40K?. But, do you think your car would actually make that amount on sale?

How many photo's have the insurance company asked for of your car? They must make their considerations on these and the market value for the model and type.

The value for agreed insurance is the amount needed to replace the car with another I guess in similar condition in the event of total loss. If you really think your car is worth much mor than £20K maybe you should get a known independant 356 expert to put pen to paper for you ?

Its almost impossible to really make a judgment unless the car is fully inspected, photo's lie in many cases as the insurance people probably are aware. ( I can tell you, my car photographs very well, and even with high resolution they still look good until you put your face 6 inches away and start to look then its different.)

So Ren, thats why probably you have not had a lot of answers.

Hope you sort it out but if not, keep it at £20K take it easy and enjoy the drive, thats what I do. By the way your car looks very nice in the photo.

Roy

[louis356]

I agree. It all depends. you know what you've put into the car money wise and how much a 'standard' B costs.

Main thing is, could you buy a replica of you car for £20k? including everything you've got on it with wheels and mirrors and exhaust. (5K of extras means you have only 15k to spend on the base car , in the same condition as yours is - could you do that???) Add everything up. tell them how much your exhaust is. Because if someone nicked it they might only give you the money to replace it with a standard one if it's not listed.

Now get out in that slippery wet snow and bend it!! Then we'll see how much it's worth!!!

[Ren]

Hi All, thanks for your replies.

The body is solid but has had some accident damage to the left side in its past. This is why the sunroof has been sealed shut. All the bits for the sunroof are still attached though.

The car has had new battery tray, new longitudinals and is unbelievably good and very solid. It is not a rusty UK car but was imported from Johanesberg SA around 1998.

I have purchased all the metal panels for the accident damage to be fixed which are hopefully going to be fitted this year. I have been quoted 3k and up for the repair.

The interior is an Autos International GT kit with Alloy seats covered in black and brown cord. All the gauges have been rebuilt in USA. When the old tatty red interior was removed the car was taken back to metal and treated in side with rust killer and paints. It also showed how good the metal work was. No patches or repairs.

The list of parts fitted is huge and receipts add up to well over £9k.
The car its self when purchased several years ago before restoration work cost £11,500. Old image of interior. Correct Vinyl now fitted to front.

The car also has alloy inspection covers all round and koni shocks with an S90 Compensator with new mounts.

I know the left side lets the car down which is why its booked in to be fixed this year.

Its original engine and G box went years ago and its original colour is silver with black interior. The cardek thing said extra work carried out in 62 by the factory.

Shot from the front.

Could I replace the car and all the GT parts on it for £20k? NOOOOOO!

So I have told insurance company it has to be insured for £30k.

I will have to argue the point when they see the photos etc.

Comments?

[Johnny Graham]

I think you are playing it down , or maybe getting tied up in details that the insurance company probably wont get into and 30k is about right. A fair condition RHD B should beworth at least 25 and you have at least 5k of parts on it, so thats it. Some shiny pics and a mention that there are other sunroof B's on the market for sale for plenty more like this and Bobs your uncle.

Car looks like it means business, with its nice patina and performance bits, I like it!

[steve wright]

the best thing to do is get a written valuation by a Porsche 356 expert and take that to the insurance company. if they won't value it at that, move companies. there are plenty of classic car and Porsche insurance specialists. last thing you want is to undervalue it, bend it, then be arguing with the insurers on the payout.

[steve wright]

great little car by the way! not perfect but with a lovely attitude and real character. insure it properly and then drive it like you stole it

[RSGulp]

The agreed value 'discussion' with insurance companies always amuses me.

You ought to be able to say, "I'd like to insure my car for £30K, now how much will that cost me as an annual premium?".

They then come up with a figure that they are willing to insure your car for. You then pay that premium or lessen the insured value if you think it is too much to pay.

Shouldn't that be how classic car insurance works - after all insurance is simply a bet that your car will/will not need to be paid-out upon in any given year. Or am I missing something?

[john fletcher]

Ren,
I would have jumped through a hoop at a chance to buy a RHD SA car and so would most people. The climate there has clearly provided you with a very solid car and as Roy says the major issue with these cars is rot. However please be warned that they rust from the inside out therefore if you haven't already done so I would encourage you to fill every single "box" on the car with Dinitrol. Unfortunately now is not the weather for it. Nevertheless you have a geat car.
Restoration by professionals is easily £50k and in my opinion they are not worth spending that sort of money on. Therefore it is no good adding up the "sum of the parts" = final value. They are only worth what someone is prepared to pay and the best barometer is a public auction.
Obviously you want to protect your investment and I think you would get a higher valuation from the Insurance people if it looked as near standard as possible on the photographs, i.e. bumpers fitted & interior finished etc. Obviously you would have to get the body damage repaired and if the sun-roof works that must add £5k alone.
John

[mad]

The agreed value 'discussion' with insurance companies always amuses me.

You ought to be able to say, "I'd like to insure my car for £30K, now how much will that cost me as an annual premium?".

They then come up with a figure that they are willing to insure your car for. You then pay that premium or lessen the insured value if you think it is too much to pay.

Shouldn't that be how classic car insurance works - after all insurance is simply a bet that your car will/will not need to be paid-out upon in any given year. Or am I missing something?

exactly - actual market cost dont mean anything on an agreed value

you and the company agree the value....thats it....if you cant agree the value, you go elswhere , if you can , they will charge you accordingly for the value you have agreed


simples

[cubist]

My '56 A has an agreed valuation at 35k. I included the Sebring and it's shown on my modifications list with replacement value from KK, just in case! I took a stack of digital detail images, dated and signed each print, and they were happy to go with it. Good reference pics are the crux here. It's hard for them to wriggle out of a claim if you've covered all angles...