Griffith for £10,000

[Just Trouble]

Having recently insured my 1992 4L pre-cat Griffith on a classic car policy with limited miles (5000 per annum) fully comp the insurance company (well known) wanted to complete a fixed valuation based upon information I supplied including photographs. They said that I would be guaranteed a sum should the vehicle be written off which I thought was sensible. What is not sensible is their valuation of the Griff for £10,000. Having looked at what Griff’s are being advertised at (not necessarily fetching) I would not be able to purchase a replacement should mine be written off. I am considering paying for a professional valuation to present to the insurance company just to cover my back should the worst happen. £10,000 would barely buy a restoration project! What would else would you guy’s do?

Cheers

JT

[TV8]

get an opinion from a local specialist and/or send them some adverts of similar cars. The value will go up and most likely the premium.

When you asked for the quote, did they ask you market price?

[Just Trouble]

TV8 said:

get an opinion from a local specialist and/or send them some adverts of similar cars. The value will go up and most likely the premium.

When you asked for the quote, did they ask you market price?

Yes I was asked for a market price when I completed the online application. I placed a value of £14,000 which on reflection may be slightly under-estimated. Part of the valuation form

Edited by Just Trouble on Friday 4th March 15:16

[cavebloke]

I got my pre-cat valued for free by the TVRCC at £20k and then used that to agree the value with my insurers. You just need to send them some detailed photos and they will send you back an official valuation.
Works well (if you're a TVRCC member).

Simon

[Just Trouble]

cavebloke said:

I got my pre-cat valued for free by the TVRCC at £20k and then used that to agree the value with my insurers. You just need to send them some detailed photos and they will send you back an official valuation.
Works well (if you're a TVRCC member).

Simon

Thanks Simon. Will have to join the TVRCC and get a more accurate valuation.

JT

[alex_gray255]

Most TVR specialists will do it for free or a few quid.

Just needs some blurb on a headed bit of paper with a figure. Insurance companies will accept
that quite happily.

But still join the TVRCC

[Just Trouble]

alex_gray255 said:

Most TVR specialists will do it for free or a few quid.

Just needs some blurb on a headed bit of paper with a figure. Insurance companies will accept
that quite happily.

But still join the TVRCC

Excellent point. Colin at TVRSSW located at Wellington would be just the chap to do this and as he services/repairs the Griff knows it better than anyone else. Colin is very reasonably priced too, a good guy.

JT

[Bluebottle]

Just Trouble said:

Excellent point. Colin at TVRSSW located at Wellington would be just the chap to do this and as he services/repairs the Griff knows it better than anyone else. Colin is very reasonably priced too, a good guy.

JT

Col/Tina just did a valuation letter for me which the insurance company accepted (A.Manning)

[hillclimbmanic]

£10,000..???

I paid that for a '92 400; Then proceeded to strip it back to the bare chassis, for a total(and I mean TOTAL..!) restoration...

One of the Americans on the forum is interested in mine, even when I said it would be in excess of £25k...He wants to own the first (legal) Griff in the States.!!

Mine is eligible for import, in 10 months...

Manic

[andy43]

hillclimbmanic said:

£10,000..???

I paid that for a '92 400; Then proceeded to strip it back to the bare chassis, for a total(and I mean TOTAL..!) restoration...

One of the Americans on the forum is interested in mine, even when I said it would be in excess of £25k...He wants to own the first (legal) Griff in the States.!!

Mine is eligible for import, in 10 months...

Manic

25k is good money - but what would you replace it with?
I can't see any roadworthy 99% complete Griff being less than 15k now - there have been some ex-racer projects on ebay for under 10, but anything even superficially decent is way more than that now.
Mine is insured with Classicline for 15k - I send pics and £20 and they do a valuation based, basically, on what I tell 'em.

[Just Trouble]

hillclimbmanic said:

£10,000..???

I paid that for a '92 400; Then proceeded to strip it back to the bare chassis, for a total(and I mean TOTAL..!) restoration...

One of the Americans on the forum is interested in mine, even when I said it would be in excess of £25k...He wants to own the first (legal) Griff in the States.!!

Mine is eligible for import, in 10 months...

Manic

Yes £10,000 does seem a bit cheap for a 92 400 that does not require any major works. There are a couple of jobs that I would like to complete this year and that would be poly bushes all round and the leather seats re-covered. Apart for that the Griff is fairly well up together. Could be a lucrative market opening up within a year for the early Griff's to be exported to the States.

JT

[Just Trouble]

andy43 said:

25k is good money - but what would you replace it with?
I can't see any roadworthy 99% complete Griff being less than 15k now - there have been some ex-racer projects on ebay for under 10, but anything even superficially decent is way more than that now.
Mine is insured with Classicline for 15k - I send pics and £20 and they do a valuation based, basically, on what I tell 'em.

Andy these are the pictures I submitted for valuation purposes to the insurance company. I do have a biased opinion but I don't think the Griff is in bad nick? Worth £15,000? I have owned the Griff for 13 years and have in excess of £10,000 bills/receipts so it has been fairly well looked after.

[hillclimbmanic]

andy43 said:

25k is good money - but what would you replace it with?
I can't see any roadworthy 99% complete Griff being less than 15k now - there have been some ex-racer projects on ebay for under 10, but anything even superficially decent is way more than that now.
Mine is insured with Classicline for 15k - I send pics and £20 and they do a valuation based, basically, on what I tell 'em.

I've been working full time on it, since November...Body off, Chassis repairs, including new outriggers, then chassis blasting/thermal zinc spraying/chrome silver powdercoating, new wishbones all round, SuperPro bushes all round, bearings/seals all round, new Gaz Gold Pro coilovers, 324mm Brembo conversion front, and 500 conversion rear brakes, Hel brake lines, 17"x7.5"/8.5" wheels Lenso bsx(same style as my Oz split rims - precat) Uniroyal Rainsport 3's 215/40x17 - 245/40x17...Well, you get the idea.!!

I'm waiting for the full leather, tan and black interior to be finished, then finally a repaint in VW Diamond black(after Dynamatting audio/thermal Insulating the interior)...

It's not leaving me for less than £30k+...AND - Like you say; what would I replace it with, Andy????

Manic

Edited by hillclimbmanic on Saturday 5th March 13:27

Edited by hillclimbmanic on Saturday 5th March 13:41

[hillclimbmanic]

Just Trouble said:

andy43 said:

25k is good money - but what would you replace it with?
I can't see any roadworthy 99% complete Griff being less than 15k now - there have been some ex-racer projects on ebay for under 10, but anything even superficially decent is way more than that now.
Mine is insured with Classicline for 15k - I send pics and £20 and they do a valuation based, basically, on what I tell 'em.

Andy these are the pictures I submitted for valuation purposes to the insurance company. I do have a biased opinion but I don't think the Griff is in bad nick? Worth £15,000? I have owned the Griff for 13 years and have in excess of £10,000 bills/receipts so it has been fairly well looked after.

Your car looks Gorgeous...L-O-V-E the wheels...

Manic

[MPO]

hillclimbmanic said:

andy43 said:

25k is good money - but what would you replace it with?
I can't see any roadworthy 99% complete Griff being less than 15k now - there have been some ex-racer projects on ebay for under 10, but anything even superficially decent is way more than that now.
Mine is insured with Classicline for 15k - I send pics and £20 and they do a valuation based, basically, on what I tell 'em.

I've been working full time on it, since November...Body off, Chassis repairs, including new outriggers, then chassis blasting/thermal zinc spraying/chrome silver powdercoating, new wishbones all round, SuperPro bushes all round, bearings/seals all round, new Gaz Gold Pro coilovers, 324mm Brembo conversion front, and 500 conversion rear brakes, Hel brake lines, 17"x7.5"/8.5" wheels Lenso bsx(same style as my Oz split rims - precat) Uniroyal Rainsport 3's 215/40x17 - 245/40x17...Well, you get the idea.!!

I'm waiting for the full leather, tan and black interior to be finished, then finally a repaint in VW Diamond black(after Dynamatting audio/thermal Insulating the interior)...

It's not leaving me for less than £30k+...AND - Like you say; what would I replace it with, Andy????

Manic

Paul

No expense spared eh? Looking forward to seeing it...

MPO

[andy43]

hillclimbmanic said:

Just Trouble said:

andy43 said:

25k is good money - but what would you replace it with?
I can't see any roadworthy 99% complete Griff being less than 15k now - there have been some ex-racer projects on ebay for under 10, but anything even superficially decent is way more than that now.
Mine is insured with Classicline for 15k - I send pics and £20 and they do a valuation based, basically, on what I tell 'em.

Andy these are the pictures I submitted for valuation purposes to the insurance company. I do have a biased opinion but I don't think the Griff is in bad nick? Worth £15,000? I have owned the Griff for 13 years and have in excess of £10,000 bills/receipts so it has been fairly well looked after.

Your car looks Gorgeous...L-O-V-E the wheels...

Manic

You couldn't replicate that for 15k though - the Minilite split rims must be a grand on their own? Beautiful car
That's the trouble with insurance and specialist cars - it's supposed to pay out what it would cost market value to replace it. 20 grand there easily, and that's assuming you can even find a precat for sale?
10 grand valuation for that is a joke. Unless the chassis is made of cheese and the engine's done 150k

[Simpo Two]

'Market price' is industry jargon for 'trade price'. You may fondly think it means 'retail price' but the 'market' they mean is theirs not yours!