VALUATION HELP WELLY

[BLACK DORIS 9]

Hey there, as topic states.

Looking for a LMVD who can give a fair/informed valuation for my '88 325i e30 touring.

Have received a quote for an agreed value insurance policy with AMI (have asked for 7.5k). I picked up the car for a fairly good price (less than policy) but looking at current prices and condition of vehicle, I think 7.5k is reasonable - maybe a bit low? Needs the LMVD valuation to be processed at this value.

Car has had full respray (2 or so years ago), new brake drums/discs/pads, bilstien shocks, H & R springs, new water pump, radiator. Full leather interior, factory manual, 15" weves, new feet, Genuine IS lip, skirts, rear parcel cover, rear tints.

Full service history (including uk services) etc. Even have a nz bmw club booklet (2001 june/july), where it was the featured car (cover and article) for that month.

Anyone working for, or can recommend a LMVD that will know the value of this vehicle? Pm'd kerry (bmpower) as I think he was working at a car sales but haven't heard from him yet.

Thanks in adv!

Rio

Edited December 3, 2010 by BLACK DORIS

[JFry 1]

Tried Jeff Gray/other BMW dealer? They should know what it's worth

[BLACK DORIS 9]

^ plan on going there, just checking if any e30 members here may have done this recently and if my insurance estimate is about right.

[OP6 27]

I think you are under valueing the car. The way I see it, if you loose the car then what will it cost to find another in similar or better condition? They are pretty rare and sought after, they sell quickly so you need to have enough insurance money to swing a deal your way. Money talks. Also, I think the value is going to continue to increase and you no doubt will improve its value (wheels, servicing, replacing parts etc) so that must be taken into account too.

Finally people like J G BMW have no idea of the value of such a car, but ask them for the name and number of the vehicle broker they use to get rid of the trades they have have no place for, he would have to be LMVD registered and will deal with unusual cars all the time

I reckon its replacement value would be $8500, subject to a lot more info.

[briancol 3]

Hi RIO,

I can do the valuation for you except you are in Wellington and I am in Auckland, and it could raise alarm bells with the insurance company. My other suggestion is to go to a car yard (just a small used car place) and ask them to do a valuation for you. Most dealers will do that for you and charge between $30-50.00. either that or offer to buy them a box of beer. Without being racist, make sure it's a European Kiwi that you go to.

Ifyou need any other help then PM me. I am a licenced car dealer.

[bmpower 3]

Sorry for the late reply RIO, i did get your PM's just haven't had a chance to reply. I don't think we would be able to value it that high and we have only 1 or 2 people that do our valuations which won't do it that high either - its being a large multi-franchise group! Stick with Brians advice and you should be ok. There is a small Euro-ish yard in Railway Avenue, a couple down from the Caltex and opposite Autoworld, i always forget the name.... He's into BMW's and currently has a fl e30 318i auto on his yard for around 9k - he would probably value yours at the right price...

Kerry.

[BLACK DORIS 9]

Thanks guys appreciate the advice. Will check out the place Kerry has suggested and see how that goes. Helps he has a e30 on the yard.

Hopefully I can get it sorted here but may still PM you Brian - thanks.

Cheers Don, I too was skeptical with taking the car out to JG BMW but the broker could be a go. Had felt it may be a bit under as well. Pending the valuation I may be able to amend the initial quote with AMI.

AA would only go a max 2.5k and no valuations accepted!

Edited December 3, 2010 by BLACK DORIS

[BLACK DORIS 9]

Sorry for the late reply RIO, i did get your PM's just haven't had a chance to reply. I don't think we would be able to value it that high and we have only 1 or 2 people that do our valuations which won't do it that high either - its being a large multi-franchise group! Stick with Brians advice and you should be ok. There is a small Euro-ish yard in Railway Avenue, a couple down from the Caltex and opposite Autoworld, i always forget the name.... He's into BMW's and currently has a fl e30 318i auto on his yard for around 9k - he would probably value yours at the right price...

Kerry.

No worries, will check out the Railway Ave place Monday. Cheers.

[39KiwiTouring 2]

That place is Parklane - David Scott or Scotty, hell of a nice fella real character.

The other one is John Cameron from Hutt Wholesale cars he knows euro's he is in the Jag club, either of those two would be the best bet for all of Wellington.

[tire 10]

You car sounds fantastic Rio throw some pictures up!

[kiwi535 538]

be aware though that even with all your work the car may not value up to where you think it will.A lot of the stuff you have done is just maintenance so does not increase the valuation,just makes it a more desirebale car than the same car without the work.A 88 e30 is only a 7.5k car to a relatively small group of people.(and the equivalent 535 even less it seems)

Edited December 4, 2010 by kiwi535

[BLACK DORIS 9]

You car sounds fantastic Rio throw some pictures up!

Hey Max, hows awks? Fantastic to me but maybe not to the insurers... Glad to see your holding on to yours for summer.

Yea, pics are way overdue. Think I may need some assistance on how to create a 'my album' or attaching file.

Edited December 5, 2010 by BLACK DORIS

[BLACK DORIS 9]

be aware though that even with all your work the car may not value up to where you think it will.A lot of the stuff you have done is just maintenance so does not increase the valuation,just makes it a more desirebale car than the same car without the work.A 88 e30 is only a 7.5k car to a relatively small group of people.(and the equivalent 535 even less it seems)

Fingers crossed but it did cross my mind, hence my eagerness to find a sympathetic valuer... I don't think I'm being too unrealistic, just trying to get decent cover in worse case scenario. Glws of the e34, looking very nice on the weves.

Edited December 5, 2010 by BLACK DORIS

[ThreeOneEight 0]

Roy McGuinness down in Seaview at McGuinness Classics is a nice guy, and pretty sure he does valuations. 101 Gracefield Road. A good bet because he knows the market for old cars, www.mcguinnessclassics.co.nz

[BLACK DORIS 9]

Roy McGuinness down in Seaview at McGuinness Classics is a nice guy, and pretty sure he does valuations. 101 Gracefield Road. A good bet because he knows the market for old cars, www.mcguinnessclassics.co.nz

Cheers, just saw on his site that he does insurance valuations.

[tire 10]

Settled in nicely thanks Rio. Pm me the photos and il put them up for you if you like.

[BLACK DORIS 9]

Quick update. Decided to book car into p'beaters (Mon) for a couple of cosmetic touch ups before going through valuation. Have just received policy details in mail and seems that the cover is currently at 7.5k. Plan to call and double check, valuation may not be required.

[kiwi535 538]

Quick update. Decided to book car into p'beaters (Mon) for a couple of cosmetic touch ups before going through valuation. Have just received policy details in mail and seems that the cover is currently at 7.5k. Plan to call and double check, valuation may not be required.

make sure that that is "agreed" and not a figure they loosely base their cover on,only at time of claim say nope at this time the market value of your car is.....

[BLACK DORIS 9]

^ Noted. It's the full coverage policy and should be "agreed" as that was what I asked for at time of quote. It'll be worth rechecking. Cheers.

[Wom 0]

yea definitely double and triple check that it states it is $7,500 agreed value

if it does not specifically state agreed value then it is market value even if it is full cover

[BLACK DORIS 9]

yea definitely double and triple check that it states it is $7,500 agreed value

if it does not specifically state agreed value then it is market value even if it is full cover

Spoke with AMI on friday to double check the quote details, and to include a few that they hadn't asked for at the time. As soon as I mentioned that the previous owner had changed/upgraded suspension they informed me that they would be unable to insure. PIA as we had wanted to do multi-saver (home contents) policy with them as well.

They did put us on to CLIC here which is owned by AMI. Anyone else using them here?

They wont do an agreed value but they'll do this - we will pay the market value of your vehicle up to the total sum insured stated in the policy schedule, with ownership of your vehicle transferred to us.

[huff3r 347]

Id give NAC a go. Last time I got a quote from clic my wallet had a heart attack haha.

[318Touring 40]

Give David McDonald from Aon a call.

I insured my P car with him on a very reasonable premium, agreed value, which is good as it's not a common car.

t: +64 3 367 2893 | f: +64 3 367 2899 | m: +64 272 60 60 80

e: [email protected] | w: aon.co.nz

He might be able to do something for you.

[BLACK DORIS 9]

Give David McDonald from Aon a call.

I insured my P car with him on a very reasonable premium, agreed value, which is good as it's not a common car.

t: +64 3 367 2893 | f: +64 3 367 2899 | m: +64 272 60 60 80

e: [email protected] | w: aon.co.nz

He might be able to do something for you.

Cheers, will give him an email. I like the nz owned factor of AMI or AA but I'd also like to be insured for at least what I paid...

Edited December 13, 2010 by BLACK DORIS