What should I insure my RS ltd for?
What should I insure my RS ltd for?
Author
Discussion

Basilbrush123

Original Poster:

7 posts

161 months

Tuesday 14th May 2013
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Having spent the last two years sourcing all the correct bits for my RS ltd, it is now back to original, question is ... how much should it be insured for? Any ideas?

sbird

325 posts

201 months

Tuesday 14th May 2013
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It's probably well worth speaking to the local MX-5 Owner's Club co-ordinator. They should be able to give you a reasonable valuation for your car. If you go down the "agreed valuation" route (which you ought to, otherwise an insurer will likely pay market value) then they would probably be able to fill in your insurance valuation form.

TameRacingDriver

20,109 posts

295 months

Thursday 16th May 2013
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I sold my completely original, very good condition RS-Limited about 2 or so years back and got £2,300 for it, if that's any help?

MX-5 Lazza

7,954 posts

242 months

Thursday 16th May 2013
quotequote all
That's probably not what he wanted to hear tongue out

The problem is, it's just an old Mk1 MX5. If someone specifically wants an RS then they might be willing to pay a little extra for it but to most people it won't be worth any more than any Mk1.

TameRacingDriver

20,109 posts

295 months

Thursday 16th May 2013
quotequote all
MX-5 Lazza said:
That's probably not what he wanted to hear tongue out
biggrin Maybe not, but there you go, I think some people think there is an "RS tax" on these, but then when it comes down to it....

MX-5 Lazza said:
The problem is, it's just an old Mk1 MX5. If someone specifically wants an RS then they might be willing to pay a little extra for it but to most people it won't be worth any more than any Mk1.
.... this! Realistically, I've seen RS's for sale at more than I sold mine for, but generally, they either didn't sell at the price, or took a long time to sell.

Richair

1,021 posts

220 months

Thursday 16th May 2013
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They're rock bottom now, but should be worth a cut above the rest in a few years time.

It's difficult to say and there's no given pattern to values, but if it's a particularly good example (minimal/no rust and decent bodywork) then I think you should be expecting a valuation of north of £3k...

New POD

3,851 posts

173 months

Thursday 16th May 2013
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As they say on Antiques Road show: You should insure it for £6K, but if you sold it in today's market, you'd be lucky to see 1/3 of that.

Basilbrush123

Original Poster:

7 posts

161 months

Monday 10th June 2013
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Thank you to those of you who have contributed... having spent nearly £800 on a pair of seats (I used to buy whole cars for less than that)I would be looking for around the 3k mark...

MX-5 Lazza

7,954 posts

242 months

Monday 10th June 2013
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I doubt the car is really worth that much. I've spent £11k on modifications on my car over the years but I don't expect to get any of that back without having to strip the car to sell in pieces. Unfortunately money spent on cars is for your own benefit and won't have any effect on car value. Having the "correct" seats in an RS makes it more desirable, not more expensive (unless you find someone who really wants an RS with those seats).

Sbloxxy

120 posts

250 months

Thursday 13th June 2013
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Is it fair to guess that your car is in good condition with solid sills, good bodywork etc? Overall condition is still a big deal, no matter what model it is. A rough RS is as worthless as any other rough MX5/Eunos
So presuming it is in good condition, its still one of the rarest Eunos models, in a very desirable colour and with a good spec and that type of car is always going to be in demand. An RS Ltd or any of the later 'Type II' cars are way better to drive than standard 1.6/1.8s, in my opinion.

I buy/sell MX5s for a living and have done so for the last 7 or 8 years now and I reckon a good RS should be worth north of £3000, and trust me, prices are rising for good limited edition cars now. I'm selling good 'Type IIs' for around £2500 and I can sell every one I can get my hands on, so its looking good for RS Ltds right now.

Worth mentioning that my own car is an RS Ltd...

renaultgeek

473 posts

171 months

Friday 14th June 2013
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The seats are more desirable probably on their own as rx7 owners like them too!

TameRacingDriver

20,109 posts

295 months

Friday 14th June 2013
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Sbloxxy said:
Is it fair to guess that your car is in good condition with solid sills, good bodywork etc? Overall condition is still a big deal, no matter what model it is. A rough RS is as worthless as any other rough MX5/Eunos
So presuming it is in good condition, its still one of the rarest Eunos models, in a very desirable colour and with a good spec and that type of car is always going to be in demand. An RS Ltd or any of the later 'Type II' cars are way better to drive than standard 1.6/1.8s, in my opinion.

I buy/sell MX5s for a living and have done so for the last 7 or 8 years now and I reckon a good RS should be worth north of £3000, and trust me, prices are rising for good limited edition cars now. I'm selling good 'Type IIs' for around £2500 and I can sell every one I can get my hands on, so its looking good for RS Ltds right now.

Worth mentioning that my own car is an RS Ltd...
Bugger, I sold my minty one for £2,200 a few years back, complete with perfect condition seats frown Shouldn't have sold it at all though, really.