Chimaera 500 Agreed Value
Discussion
Having owned my Chim 500 for 13 years now I currently have an agreed value of 12k through my insurance which is due for renewal. A quick look at the classifieds reveals some quite heady retail prices so am i undervaluing its worth for the agreed value privately as i've not kept pace with the market?
Registered 97 (ex works) 500 HC, 27k miles with SH very well maintained, Ice blue, mk1 body looks original spec on estorils but with many sensible upgrades to suspension, brakes, coilovers, drop links etc. Good interior with full leven dash & trimmings, carpets colour faded a tad. Full leather option plus optional aircon fitted, new roof cover, original grill with slanted rear number plate, body work very good with few stone chips on front nothing serious, dry use chassis all very good & protected etc.
While I appreciate values are mostly retail I think i may be undervaluing on 12k. I may also consider selling this year potentially so it would be useful to get some feedback on the true market.
Registered 97 (ex works) 500 HC, 27k miles with SH very well maintained, Ice blue, mk1 body looks original spec on estorils but with many sensible upgrades to suspension, brakes, coilovers, drop links etc. Good interior with full leven dash & trimmings, carpets colour faded a tad. Full leather option plus optional aircon fitted, new roof cover, original grill with slanted rear number plate, body work very good with few stone chips on front nothing serious, dry use chassis all very good & protected etc.
While I appreciate values are mostly retail I think i may be undervaluing on 12k. I may also consider selling this year potentially so it would be useful to get some feedback on the true market.
When I was looking for a Chimaera last year, I seem to recall the cheapest 500s were £15k+ with most nearer £17k-£18k in good condition.
Obviously most of the figures I saw were dealer asking prices but I would have thought £17k-£18k would be the minimum you'd want as an agreed insurance value, based on your description.
If you do decide to sell, the chassis condition would be the biggest influence on value. But I'm pretty sure a PHer on here picked up a 500 that needed a complete chassis refurb which was still advertised for a few £k more than your current agreed value...
For what it's worth my fairly tidy (recent new hood, carpets, door cards, outriggers, rear lights, clutch, GGPs etc) lowly 400 with almost triple the mileage of your 500, has an agreed value of £12k.
Obviously most of the figures I saw were dealer asking prices but I would have thought £17k-£18k would be the minimum you'd want as an agreed insurance value, based on your description.
If you do decide to sell, the chassis condition would be the biggest influence on value. But I'm pretty sure a PHer on here picked up a 500 that needed a complete chassis refurb which was still advertised for a few £k more than your current agreed value...
For what it's worth my fairly tidy (recent new hood, carpets, door cards, outriggers, rear lights, clutch, GGPs etc) lowly 400 with almost triple the mileage of your 500, has an agreed value of £12k.
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