Classic car valuation

[GMac1]

I'm looking to try and get a valuation on my 1981 Mercedes 280 SL.
Normally when I try to value any car, I would just look at autotrader and see what the market trend is for the car I'm selling.
The difficult issue I have is the car was recorded as a Cat N last year with minor front end cosmetic damage.
The insurance company wrote it off as the quote for repair was 14k.
I was given the car back for free as part of my policy and then repaired the car for less than 3k using OEM parts from a donor car.
When looking at car and classic the prices vary so much that I'm confused with where to pitch the price. I haven't see any Cat N cars similar to mine for comparison.
My car is in tip top condition, has only covered a genuine 75,000 miles with documented history to back it up.
Should I approach a classic car dealer for a valuation? I'd be prepared to pay a fee.
I'd also like to be totally honest if selling private and have every photo detailing the repairs, I even have CCTV footage of the accident.
Would buyers want to see every detail in the ad or simply list as a Cat N and say full details on request?

[hilly10]

It would not hurt to get a quote from a Classic dealer he could tell you the value of both cars a non cat and yours Cat N. I would think a badged Cat N is always going to hit values and a prospective buyer is going to look for a discount, least then you would have some idea in your head.

[GMac1]

hilly10 said:

It would not hurt to get a quote from a Classic dealer he could tell you the value of both cars a non cat and yours Cat N. I would think a badged Cat N is always going to hit values and a prospective buyer is going to look for a discount, least then you would have some idea in your head.

I agree the Cat N will affect the value. I've never had to sell one before so that makes it slightly more tricky with valuation. I will contact a local classic dealer and arrange an appointment. I will see if they will sell on my behalf as they will know the best approach with the Cat N status. I think a buyer might feel more comfortable going through a dealer for purchase rather than private sale. My plan would be to put it up for sale in late Feb/ early March with a view to selling before spring with it being a convertible. Not sure if that always works but I don't think many people will be looking to buy a convertible in January.

[POORCARDEALER]

R107 prices are all over the place, probably more so than any other plentiful classic on the market...deduct 30% or so for the car being on the VCAR register from its pre accident condition

[GMac1]

POORCARDEALER said:

R107 prices are all over the place, probably more so than any other plentiful classic on the market...deduct 30% or so for the car being on the VCAR register from its pre accident condition

I'm glad it's just not me that's noticed prices are all over the place with this model. I've no problem at all with the car being lower value as it's a Cat N, just hoping to get a fair price.

[classicaholic]

Anything over the 3k you paid is a bonus if the insurance have paid you the full value anyway.
I agree that 30% discount over normal selling price is about right but the only real way to find out is bunging it in an auction.

[Turbobanana]

GMac1 said:

I'm looking to try and get a valuation on my 1981 Mercedes 280 SL.
Normally when I try to value any car, I would just look at autotrader and see what the market trend is for the car I'm selling.
The difficult issue I have is the car was recorded as a Cat N last year with minor front end cosmetic damage.
The insurance company wrote it off as the quote for repair was 14k.
I was given the car back for free as part of my policy and then repaired the car for less than 3k using OEM parts from a donor car.
When looking at car and classic the prices vary so much that I'm confused with where to pitch the price. I haven't see any Cat N cars similar to mine for comparison.
My car is in tip top condition, has only covered a genuine 75,000 miles with documented history to back it up.
Should I approach a classic car dealer for a valuation? I'd be prepared to pay a fee.
I'd also like to be totally honest if selling private and have every photo detailing the repairs, I even have CCTV footage of the accident.
Would buyers want to see every detail in the ad or simply list as a Cat N and say full details on request?

Wish I was in the market, OP, but if I was I'd certainly value sight of the work-in-progress pics and possibly even the CCTV footage. If nothing else I'd appreciate your bona fides as a seller. My only word of caution would be not to go showing it around to just anyone - if someone's prepared to come and view the car, knowing its VCAR status, then show them everything you've got but I wouldn't send it vie email / PM / WhatsApp etc.

Good luck with your future sale - I may be doing the same with my long-term Saab Convertible around then, too!.

[Jaz2000]

Look at comparable cars not Cat N then deduct a couple of grand.

I know what you are saying about it being repaired properly and if I saw the evidence of repairs carried out correctly it would not bother me, I would however want to get it a bit cheaper as I know if I came to sell it the next buyer would expect that.

However for insurance purposes it is not its resale value but replacement value you should insure for. I have always insured my classic for more than its resale value as it is fully nut and bolt restored and even at 30% over resale value I could not build another for its insured value as parts and labour costs are so much more now than 8 years ago when it was restored.

[V8covin]

The only true valuations of any vehicle are what they sold for,not what they were asking.
Have a look on ebay,you can specify sold only in the search criteria.
Also look at classic car auction sold prices

[sixor8]

This site gives auction results from all the major sellers, but not all:

https://www.glenmarch.com/cars/results?make=235&am...

Some result links take you to the full auction listing, but some are just a screenshot from the results. It's a start anyway.

[V8covin]

sixor8 said:

This site gives auction results from all the major sellers, but not all:

https://www.glenmarch.com/cars/results?make=235&am...

Some result links take you to the full auction listing, but some are just a screenshot from the results. It's a start anyway.

That's a useful site,cheers

[GMac1]

V8covin said:

The only true valuations of any vehicle are what they sold for,not what they were asking.
Have a look on ebay,you can specify sold only in the search criteria.
Also look at classic car auction sold prices

Never thought of that way, that sounds a better option. Think that why I was confused, kept looking at what's for sale and the prices are all over the place.
Cheers

[GMac1]

Quick check at auction sold prices of similar cars indicates values at around 15 - 20k, although a few in the mid 20's.
Will take the car to a local classic car dealer and see what they think.

Edited by GMac1 on Sunday 9th January 09:11

[grumpy52]

It's rather sad that the modern methods of recording insurance claims on classic cars has such a negative effect on the value. The chances are they will be repaired to a very high standard. Much more so than many that will have had accident damage or "restoration " in the past .

[GMac1]

grumpy52 said:

It's rather sad that the modern methods of recording insurance claims on classic cars has such a negative effect on the value. The chances are they will be repaired to a very high standard. Much more so than many that will have had accident damage or "restoration " in the past .

I think the insurance assessor will probably look at it as an old car and not a classic. They will not be able to price the parts in the way any classic enthusiast would by either selecting a donor car or buying OEM second hand. They will have to use main dealers and price for every damaged item in full. I was shocked at how little the damage was yet the quote to repair was 14k. My car is actually in better shape now than it was before the accident as I decided to improve a few other parts of the car. It's in fantastic condition and needs nothing doing to it now.
Someone will get a very good car. I'm just not using it anymore and that's why I'm selling it.

[Wilmslowboy]

17 or so R107s listed and sold in the past 12 months on Collecting Cars, you can see prices achieved, photos and full details here .

https://collectingcars.com/?query=meredesr%20r107&...


As suggested above normal discount for a damaged repaired car is between 25% and 30%.