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#521816 - 11/07/18 07:35 PM Re: Morgan valuation [Re: Jamieb1000]
howard Offline
Talk Morgan Addict

Registered: 01/01/09
Posts: 3616
If the estate is likely to breach the iht limit then maybe you have to value with some care but if you have headroom then I would simply use advertised prices from magazine of maybe 3 similar cars. No point in paying a dealer to value unless you have to. Even then I would be inclined simply to ask them to make an offer for the car which they will do for rather than ask for a valuation for probate.

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#521826 - 11/07/18 08:35 PM Re: Morgan valuation [Re: Jamieb1000]
Jamieb1000 Offline
New to Talk Morgan

Registered: 05/07/18
Posts: 5
Thank you everyone for your thoughts and comments.

I am very aware that a valuation for probate and a valuation for insurance purposes will be totally different.

Personally, I would expect the valuation to be i the region of around £13-14k but I will make contact with a few of the recommended and see where we go.

Thanks again,

Jamie

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#521829 - 11/07/18 08:57 PM Re: Morgan valuation [Re: howard]
Malcolm T Offline

Learner Plates Off!

Registered: 10/09/08
Posts: 435
Loc: North Staffordshire
Originally Posted By howard
If the estate is likely to breach the iht limit then maybe you have to value with some care but if you have headroom then I would simply use advertised prices from magazine of maybe 3 similar cars. No point in paying a dealer to value unless you have to. Even then I would be inclined simply to ask them to make an offer for the car which they will do for rather than ask for a valuation for probate.


Spot on Howard.....
_________________________
Malcolm T
1966 +4
1957 TR3
1963 TR4
1983 LR 110

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#521833 - 11/07/18 09:39 PM Re: Morgan valuation [Re: Jamieb1000]
Jamieb1000 Offline
New to Talk Morgan

Registered: 05/07/18
Posts: 5
All good info but the solicitors want a solid valuation based on ‘value at death’. To be honest I will probably keep the Morgan in my Dads honour and use it regularly.
However I still need a solid valuation.

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#521834 - 11/07/18 09:54 PM Re: Morgan valuation [Re: Jamieb1000]
stevemag Offline
Talk Morgan Regular

Registered: 18/03/13
Posts: 842
Loc: Wales
Sorry for your loss
keep to the lower end for probate valuations.
morgan values can really be varied
good advice has been given as above

PM sent


Edited by stevemag (11/07/18 09:56 PM)
_________________________
Magwa

1986 Morgan 4/4 (4 seater)
2002 Triumph Sprint ST
1967 Mobylette moped

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#521866 - 12/07/18 01:07 AM Re: Morgan valuation [Re: Jamieb1000]
Taffmog Offline
Has a lot to Say!

Registered: 22/09/10
Posts: 1397
Loc: Wales
+1 on Kevin Vernon in Market Drayton Jamie, Morgan specialist for many years.

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#521867 - 12/07/18 03:40 AM Re: Morgan valuation [Re: twotribes]
OZ 4/4 Offline

Talk Morgan Expert

Registered: 25/11/11
Posts: 2081
Loc: Australia - NSW Mid North Coas...
Originally Posted By twotribes
Lots of good suggestions already on who to approach. I would add one further comment. Dealers' valuations are often given for insurance purposes and, as such, are 'optmistic' (to allow for a cherished pride and joy to be replaced at retail prices). Whilst I am not suggesting you mislead HMRC, you need a realistic valuation along the lines of "what would you offer me right now to take the car away?" Which will of course be significantly lower than the normal insurance-type valuation. Apologies if this is self-evident & I'm not trying to patronise.


My condolences for your loss

I have been through an issue of trying to value some complex energy derivative contracts that were not easy to "Mark to Market"

The judge in the resulting court case backed the view (correctly I believe) that a fair valuation is:-

"Where a willing but not anxious seller would sell and a willing but not anxious buyer would buy".

This analogy could be taking things to the extreme in this case but may add to the thought and explanation process.
_________________________
A Morgan Identified Fastidious Owner...
2011 4/4 Bespoke, 1981 Delorean DMC 12

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#521875 - 12/07/18 07:52 AM Re: Morgan valuation [Re: Jamieb1000]
Graham, G4FUJ Offline
Salty Sea Dog
Member of the Inner Circle

Registered: 03/07/07
Posts: 20471
Loc: Cheltenham, Glos. UK
Originally Posted By Jamieb1000

Personally, I would expect the valuation to be in the region of around £13-14k but I will make contact with a few of the recommended and see where we go.
Thanks again,
Jamie


Jamie, first of all, sorry for your loss.
Used Morgan values go very much on vehicle condition. For that you are right in asking a dealer or Morgan specialist to give a valuation - on a sale basis (what they would buy the car for).

Originally Posted By Jamieb1000
To be honest I will probably keep the Morgan in my Dads honour and use it regularly.


Should that happen I will just say: welcome the world of Morgan motoring thumbs

Good luck with sorting probate.
_________________________
Graham (G4FUJ)

D8921 L44FOR '93 4/4 Sunny yellow 2 seat smile
'90 LR 90 SW

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#521925 - 12/07/18 01:02 PM Re: Morgan valuation [Re: Jamieb1000]
Jamieb1000 Offline
New to Talk Morgan

Registered: 05/07/18
Posts: 5
Thank you everyone for your advise and comments. I spoke with Kevin Vernon this morning and it turns out he knows my Dad quite well from the local Morgan club. He’s coming next week to do a valuation. Thanks again. Oh, and I may well be a regular on here as I think I’ve decided to keep it and get it restored to mint condition.

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#521927 - 12/07/18 01:03 PM Re: Morgan valuation [Re: Jamieb1000]
Stewart S Offline
Wave & smile... It's a Morgan
Needs to Get Out More!

Registered: 14/06/14
Posts: 8981
Loc: Lancashire, England
Originally Posted By Jamieb1000
Thank you everyone for your advise and comments. I spoke with Kevin Vernon this morning and it turns out he knows my Dad quite well from the local Morgan club. He’s coming next week to do a valuation. Thanks again. Oh, and I may well be a regular on here as I think I’ve decided to keep it and get it restored to mint condition.


Top man
_________________________
2008 British Racing Blue (ahem!) 3 Litre, 4 Seater

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