The £150,000 GT3 has arrived as predicted

The £150,000 GT3 has arrived as predicted

Author
Discussion

Bieldside

Original Poster:

583 posts

198 months

Thursday 29th January 2015
quotequote all
Without disclosing any names to maintain a level of confidentiality I have been offered £150,000 to sell my GT3 to a specialist

Their margin makes the car £150,000 +

And I decided to decline - what else would I buy?


Edited by Bieldside on Thursday 29th January 08:36

5517

1,952 posts

244 months

Thursday 29th January 2015
quotequote all
what spec?

APOLO1

5,256 posts

193 months

Thursday 29th January 2015
quotequote all
Bieldside said:
Without disclosing any names to maintain a level of confidentiality I have been offered £150,000 to sell my GT3 to a specialist

Their margin makes the car £150,000 +

And I decided to decline - what else would I buy?


Edited by Bieldside on Thursday 29th January 08:36
My friend was offered 152k last night for a low spec, like I said 170k is a stroll around Geneva time....

Bieldside

Original Poster:

583 posts

198 months

Thursday 29th January 2015
quotequote all
Interesting - mine car has a list of £122,000 so quite a high spec

£175,000? Well that seems achievable by the time the clocks go back!

GT3-RS

1,085 posts

218 months

Thursday 29th January 2015
quotequote all
What GT3? 996, 997 Gen 1....Gen 2

5517

1,952 posts

244 months

Thursday 29th January 2015
quotequote all
GT3-RS said:
What GT3? 996, 997 Gen 1....Gen 2
991

sidicks

25,218 posts

220 months

Thursday 29th January 2015
quotequote all
GT3-RS said:
What GT3? 996, 997 Gen 1....Gen 2
991 GT3

As per my previous post, I've recently spoken to my insurer to increase the recorded value of my car to £165k, just under a £40k premium from the list price.

That would appear to be the minimum amount needed to purchase a car with similar spec.

Bieldside

Original Poster:

583 posts

198 months

Thursday 29th January 2015
quotequote all
Yes 991 GT3

Can you uplift the value to higher than cost - would they pay out on the higher value?

The insurance aspect passed me by

Thanks for the heads up

On the phone now!!

PorscheGT4

21,146 posts

264 months

Thursday 29th January 2015
quotequote all
Bieldside said:
And I decided to decline - what else would I buy?
A 458S if you want to add £70k or a nice rental house for £150k here would get you a £750 a month return.

Phooey

12,575 posts

168 months

Thursday 29th January 2015
quotequote all
At list price the GT3 was stonking value for money. At 15% above list it was still good value. At approaching £150k+above i couldn't buy one over a 458. It's a great car, but it's not a Fezza. If i had one i'd cash my chips in.

5517

1,952 posts

244 months

Thursday 29th January 2015
quotequote all
Phooey said:
It's a great car, but it's not a Fezza. If i had one i'd cash my chips in.
Im a F car guy but as soon as I drove the 991 GT3 I forgot all about Maranello. smile



Bieldside

Original Poster:

583 posts

198 months

Thursday 29th January 2015
quotequote all
PorscheGT4 said:
A 458S if you want to add £70k or a nice rental house for £150k here would get you a £750 a month return.
In London £150,000 would buy a garage !

And I don't do Ferrari, so the GT3 stays

sidicks

25,218 posts

220 months

Thursday 29th January 2015
quotequote all
Bieldside said:
Yes 991 GT3

Can you uplift the value to higher than cost - would they pay out on the higher value?
!
Some policies do provide a specified value but most standard policies would pay out on 'market value' only.

Trying to determine what a fair market value is would be difficult,movement the lack of cars on the market, but there would clearly be support for a market value above the purchase price declared on the insurance form.

I feel much more comfortable being able to argue a fair price in the event of a total write-off when I've declared the value to be £165,000 rather than £125,000!

hondansx

4,562 posts

224 months

Thursday 29th January 2015
quotequote all
What's the spec of your car?

drmark

4,794 posts

185 months

Thursday 29th January 2015
quotequote all
Bieldside said:
Without disclosing any names to maintain a level of confidentiality I have been offered £150,000 to sell my GT3 to a specialist

Their margin makes the car £150,000 +

And I decided to decline - what else would I buy?


Edited by Bieldside on Thursday 29th January 08:36
Nice problem to have but I would cash in. I have eventually tired of every car that I have owned and something better always comes along - albeit better in a different way. To be able to bank £25k tax free having enjoyed a GT3 for a year or so would present the perfect opportunity to say goodbye.
What next is an issue though. I would love to give the NSX a punt - just out of curiosity.

PS investment in cars not my thing as my garage shows - I always buy and sell at the wrong time smile

MDahmen

6,895 posts

176 months

Thursday 29th January 2015
quotequote all
PorscheGT4 said:
Bieldside said:
And I decided to decline - what else would I buy?
A 458S if you want to add £70k or a nice rental house for £150k here would get you a £750 a month return.
or a LHD 458S at current FX for about 165 sterling

thegoose

8,075 posts

209 months

Thursday 29th January 2015
quotequote all
nono

PorscheGT4 said:
A 458S if you want to add £70k or a nice rental house for £150k here would get you a £750 a month return.
You can sleep in a car, but you can't drive a house! biggrin

av185

18,434 posts

126 months

Thursday 29th January 2015
quotequote all
sidicks said:
Bieldside said:
Yes 991 GT3

Can you uplift the value to higher than cost - would they pay out on the higher value?
!
Some policies do provide a specified value but most standard policies would pay out on 'market value' only.

Trying to determine what a fair market value is would be difficult,movement the lack of cars on the market, but there would clearly be support for a market value above the purchase price declared on the insurance form.

I feel much more comfortable being able to argue a fair price in the event of a total write-off when I've declared the value to be £165,000 rather than £125,000!
The main problem with the 991 GT3 appears to be finding a reputable even specialist insurer who would pay out on an agreed value basis for a vehicle less than 1 year old as this is usually only possible for older vehicles.

The best evidence of market value would be to keep an ongoing record of similar vehicles for sale and where possible, sale prices.

5517

1,952 posts

244 months

Thursday 29th January 2015
quotequote all
drmark said:
Nice problem to have but I would cash in. I have eventually tired of every car that I have owned and something better always comes along - albeit better in a different way.smile
May I ask if you have driven a 991 GT3?



Bieldside

Original Poster:

583 posts

198 months

Thursday 29th January 2015
quotequote all
Having been offered the £150,000 I did seriously stop and thought "sell" and move on

But then I thought .... to what

Ferrari - no Lambo - NO NO NO , Aston - no , eh .......Mercedes AMG - totally no

So I buy a 991 something at £115,000 for a nice spec and shed £50,000 in three years and realise I should have kept the GT3

So, no brainer (almost) And I'm Scottish !!!!