Should the club have a valuation service

[Norman Verona]

That's where the valuers experience comes in. It's not impossible to arrive at an insurance valuation. In those case the purchase price would be a starting point. Of course the insurer would have to trust the valuer.

 

Mark, if we all just gave up on things because they're not easy we would never accomplish anything.

 

I know you don't otherwise you'd never have completed your car.

[Nick Algar - Competition Secretary]

Norman,

Why don't you offer to do it. You have the required experience much more so than any of the existing Committee and it would be a nice little bit of pocket money ?

 

I certainly don;t have the time or experience to do it and I might know a bit about Westfield's :D

 

All the rest of the Committee are too busy trying to do their day jobs / committee jobs to have anything to do with valuing cars.

[Norman Verona]

I wasn't suggesting for one minute that any particular person should become the club valuer. I was just asking if we needed it.

 

If we think it's a good idea then we can select who should do it. I may volunteer to do it, but only with the clubs approval. The fee charged would go to the club because the word I used was "volunteer".

 

By the way as I was cleaning owl poo of my carbs (don't ask) I thought of something. Some think that this service can be used to value their car for sale purposes. They can say the car has an insurance value of x but that doesn't mean it will sell at that price. There will not be a published list of values like a glasses guide.

[ACW]

Mark, but you're answering your own query. If Mr Smith buys a kit and then spends a substantial sum on the other parts he will have the invoices to make valuation easy.

 

I may not own a Westfield but I understand how they're built.

 

The value of a kit car is not the sum of its parts. Indeed many costly upgrades will actually reduce the selling price rather than increase it as it makes the car more niche.

 

A valuation service would be great to have, but impossible to achieve IMO.

 

As a club we do already have a very accurate valuation service, which is also know as cars for sale. You sell the car to the likely best target audience and what you get is what it was worth.

[Norman Verona]

Adrian, selling a car is not the same as insurance value.

 

It would appear the scheme isn't wanted so I've forgotten about now. 

[Darrell O'Neill]

Whilst I can understand the committee saying its nothing they want to get involved in for the various given reasons... this is a discussion forum and no reason why this subject cannot be discussed.

Who knows? there maybe an individual or company reading this that would be interested in offering such a service.

[Mark Stanton]

Norman

 

Thanks for noting clubs that offer a valuation service, the number is certainly not most clubs but looks to be a moinority of clubs - I would note that none of those mentioned are kit cars (Caterham do not like to be known as a kit car manufacturer  ) the others mentioned all appear to fall into the classics / standard production car area - certainly no comparison to a Westfield - surely the individual owner with a folder full of receipts can provide the most accurate valuation ? would this not be a service better provided by a recognised specialist in their field e.g Westfield Sports Cars Ltd ?

[Norman Verona]

darrel, I never suggested anyone get involved, all I'm asking is is there a need for an insurance valuation service.

 

Mark, I understand that Westfield do not want to do it.

 

I've no idea how many clubs offer the service, I don't want to argue on whether it's most, some or none. I'm asking if WE need it.

 

If everyone who has had a total loss has been paid out without hassle and for the amount they feel the car will cost to replace on as near a like for like vehicle then we don't need it.

 

It may be difficult but that does not mean it's not needed.

 

So far it would appear that the negatives are based on the claim that it can't be done not that it's not needed.

 

The insurers do it. Problem is that they usually undervalue and then the owner has a lengthy argument to get what he thinks it will cost to replace his/her car.

[s2rrr]

I thought and still think that Norman has/had a valid point I don't think he needs me to act as bodyguard but some of the comments made are less than constructive. It is doable just that certain areas do not want to get involved. End of, the individual can do it themselves, comments like you don't even have a Westfield are less than respectful. Valuation versus selling price etc a no brainer, insurers will go for the lowest price they can get away with, unless you can prove them wrong, too late you are risking losing money by then.

 

My opinion only, feel free to slag me off, I'm a big boy-ish.

 

Reasonably shocked by the back lash I must say.

 

Bob  

[Mark Stanton]

"Mark, I understand that Westfield do not want to do it"

 

Have you asked them why ?         

 

Whatever we as enthusiasts and home builders may say or advise ............ the ones that have the expertise and knowledge of many more Westfield specifications and their manufacture must surely be Westfield Sports Cars Ltd. and are certainly recognised throughout the U.K, Europe as the specialists of Westfield cars.

 

You keep asking if it is needed and yet I do not believe there has ever been a posting on any WSCC forum incarnation with regard to a Westfield club member having troubles with pay-outs from their insurance company where they have an agreed valuation.

 

Please consider that the WSCC has contact and understandings with a few insurance companies that offer good service to the members   and none of these companies have ever suggested that the WSCC provide any kind of agreed valuation scheme via a club official - they are all accepting of each individual owners submission of the required documentation as sufficient     this is without any additional personal costs to the insurer, which certainly would be involved if a.n. other were to undertake a valuation scheme.

 

Isn't insurance a costly enough exercise without having to pay more for an independent inspection and valuation check ?

[Norman Verona]

mark, I have been in and associated with the motor trade for over 50 years. I have dealt with insurance matters for a medium size dealer group including te annual renewal conference for about 20 years.

 

I understand thse matters.

 

I have not asked Westfield why they refused to get involved. One reason could be that they would find it difficult to be independent  it would be in there interest to keep values high.

 

There have been members who have had to fight to get the write of value increased. If an agreed valuation is in place of course there isn't a problem. It's those with no agreed value and who do not know how to get one that it affects.

 

The cost of getting an agreed value and the peace of mind it gives is not worth even thinking about. It may be £30 a year. Hopefully it would never be used in a claim. The man that taught me most about business always siad not to begrudge the premiums on insurance only be thankful not to claim.

 

So far there have been many posts saying it can't be done. I say it can because it's exactly what the underwriters do. Do you think they're thinking of the insured or their liability when they mark the policy with the value insured.

 

Anyway, as I've said, there is so many who think it can't be done that, guess what, it won't get done.

 

I only raised it after some members expressed concern at their insurance value after they found out the true value of their engines.

 

As above, I've forgotten about it. It was obviously a bad idea.

 

 

 

Bob, I never asked anyone to get involved or do any extra work. Thanks for the support but we seem to be vastly outnumbered.

[s2rrr]

Norm, you can take a horse to water.

 

Bob

[Captain Colonial]

Norm, you can take a horse to water...

 

But it makes far more sense to take the garden hose to the horse.

 

Or get a goldfish, who are already in water.

[Paul Hurdsfield - Joint Manchester AO]

Phew dont some of these threads go on....and on....and on, my two pennorth.

Yes it would be great if someone could provide a reliable valuation service, but who?

I suffered a total loss on my westy, and with advice from some club members, I negotiated what to me was a good settlement figure and by the time my new westy was on the road i made a few bob.

When I renewed my insurance last time I got an agreed valuation with A Plan, supported by photographs.

I'm happy with that, is it enough only time will tell.

How much a particular westy is worth depends on so many things, how quick do you want to sell it?

Time of year, how good the potential buyer is at negotiating compared with the seller.

At the end of the day it's what you think it's worth, not what some Joe Bloggs thinks it's worth, however qualified they may be.

Dont ask me to justify any of the above or comment further, I dont do long debates, I'm not diplomatic enough.

[Mark Stanton]

I have not asked Westfield why they refused to get involved

 

Maybe you should, it may possibly provide you with an answer and another opinion on this matter - you've asked the WSCC Committee Team and they have noted various reasons why they are unable to undertake this job (and it is a job), the guys that sell kits, components and cars don't even provide this service that you request  nor any independent dealer or specialist .......... ask yourself why ................... if there was such a high demand as you appear to think there is ............... with Westfields (and perhaps other kits) why hasn't someone undertaken this job beforehand ?