How do you value a car that's not manufactured anymore?

[P_S2k_54]

Hi all, does anyone know how to go about getting a valuation for a vehicle that isn't manufactured anymore? Think in terms of 'modern classic' or at least something that hasn't been produced for over 10 years. This is simply for insurance purposes. Looking at some of the beautiful older cars some members have or write about on here, this must be a common question.

Any advice would be greatly appreciated.

Thank you.

[Driver101]

Is there something really unusual about the car that no car valuation guide or classified adverts can't give an idea?

What car is it?

[FHCNICK]

If there is a car club for the make then they can normally provide a valuation for classic insurance purposes.

[RichB]

P_S2k_54 said:

<clip> this must be a common question...

Not that I'm aware of. What car is it you want to insure?

[NMNeil]

https://www.hagerty.co.uk/valuation/tool/

[Jaguar steve]

I'm in the process of valuing my old Jaguar with a view to selling it and there's enough examples around on classic car sites and owners clubs classifieds to form a reasonable view with regard to condition and mileage of what to ask.

Come the day to sell though it's not worth a penny more than anybody is prepared to pay for it.

[P_S2k_54]

Driver101 said:

Is there something really unusual about the car that no car valuation guide or classified adverts can't give an idea?

What car is it?

Nothing unusual or particularly special about the car apart from its condition or maybe it's simply what some people think of them? I've seen asking prices vary considerably and was wondering how some of these prices are justified? The car is a Honda S2000 which I've owned from new and effectively refurbished it, think OEM-Plus.

Thanks to all who took the time answer, it's very much appreciated & has given me some food for thought.

[cobra kid]

P_S2k_54 said:

Nothing unusual or particularly special about the car apart from its condition or maybe it's simply what some people think of them? I've seen asking prices vary considerably and was wondering how some of these prices are justified? The car is a Honda S2000 which I've owned from new and effectively refurbished it, think OEM-Plus.

Thanks to all who took the time answer, it's very much appreciated & has given me some food for thought.

I guess the average of the like for like Autotrader prices?

[P_S2k_54]

cobra kid said:

P_S2k_54 said:

Nothing unusual or particularly special about the car apart from its condition or maybe it's simply what some people think of them? I've seen asking prices vary considerably and was wondering how some of these prices are justified? The car is a Honda S2000 which I've owned from new and effectively refurbished it, think OEM-Plus.

Thanks to all who took the time answer, it's very much appreciated & has given me some food for thought.

I guess the average of the like for like Autotrader prices?

Possibly? it's an interesting topic when you think about it. We see some cars (regardless of what they are) being sold for very high prices and I always wonder that insurance companies would pay 'the market price' as opposed to what the owner might think of their car should the worst happen e.g. I saw a white S2000 being advertised for £50K and I thought to myself, if someone bought that car & something terrible happened to it, would an insurance company really payout £50K for that car? I just can't see it hence me asking the question.

Thanks again to all who took the time to answer.

[Doofus]

Unless you get an Agreed Value insurance policy, what you think the car is worth is essentially irrelevant.

[PistonTim]

OEM plus or whatever you've spent on it doesnt mean anything to the insurance company unless you have an agreed value.

It MIGHT mean something in a sale situation.

[P_S2k_54]

Doofus said:

Unless you get an Agreed Value insurance policy, what you think the car is worth is essentially irrelevant.

Thank you! That explains it... 'Agreed Value' I'll look into this...

Thanks again..

[RichB]

Doofus said:

Unless you get an Agreed Value insurance policy, what you think the car is worth is essentially irrelevant.

This is correct, the easy answer is to consider what it would cost you to buy a replacement of a similar standard and get an agreed valuation from the S2000 club or whatever.

For example, I've had my Griff from new in '99 and it's in excellent condition and I've done a few bits on it so I have an agreed valuation of £30k.

Edited by RichB on Monday 9th May 09:42

[samoht]

Imagine that the famously tricky handling has caught you out, and your car's a write-off.

Now go on Autotrader and try and shop for a direct replacement, a car that you'd feel happy with as a replacement for your own.

How much money do you need?


Ultimately the purpose of insurance is to put you back in the position you were in beforehand. Having said that, unless it's 'agreed value' insurance, the payout will be worked out at the time based on (the insurance co's perception of) market values, not whatever valuation you give them when you take the policy out.

If you buy a car for way above the typical market value (eg the £50k S2k), agreed value would be the way to go. Otherwise, you have to expect a 'market average' payout if the worst happens, which is probably more or less ok for most people.

[Truckosaurus]

At least there's plenty (78!) listed on Autotrader - although across a wide range of prices as the OP has said - hopefully this can be narrowed down to those matching the age and mileage of the OP's example.

I suspect that the problem with valuing an S2000 is that is it actually fairly common so plenty of poorer examples around to bring the overall average price down.

[brillomaster]

s2000s are only going up. used to be £5-6k, now they're starting at £8-9k. good ones probably £12-15k.

shame really as they're a car i would have loved to try, but now i can get a similar age and mileage porsche boxster for a lot less, so i've gone for that instead (which is also now seeing prices on the rise)

[J4CKO]

brillomaster said:

s2000s are only going up. used to be £5-6k, now they're starting at £8-9k. good ones probably £12-15k.

shame really as they're a car i would have loved to try, but now i can get a similar age and mileage porsche boxster for a lot less, so i've gone for that instead (which is also now seeing prices on the rise)

I think there was a lot of hype and a lot of ambitiously priced examples, especially as they are getting a bit tired in a lot of cases.

[swisstoni]

Owners club? Facebook group? They will have cars, or know of cars in similar condition.

[P_S2k_54]

NMNeil said:

https://www.hagerty.co.uk/valuation/tool/

Thank you to the person who provided this link and everyone who gave their insightful comments ( 'Agreed Value' is the way to go! ), I now have all the information I need to move forward.

Thanks once again to all who took the time to answer, very much appreciated.

We can draw a line under this thread. Thanks all.

[anonymous-user]

The best valuation is what comparable cars have sold for,not what they are asking.
Search eBay for sold S2000s