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Joined: Jan 2009
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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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OP
New to Talk Morgan
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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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Joined: Sep 2008
Posts: 516 Likes: 1
Talk Morgan Regular
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Talk Morgan Regular
Joined: Sep 2008
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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
1985 Robin Hood 2.0l
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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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Talk Morgan Regular
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Talk Morgan Regular
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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
Last edited by stevemag; 11/07/18 08:56 PM.
Magwa
1950 Allis Chalmers B tractor
2000 Porsche boxster
2014 Skoda yeti 4x4 elegans
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Talk Morgan Expert
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Talk Morgan Expert
Joined: Sep 2010
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+1 on Kevin Vernon in Market Drayton Jamie, Morgan specialist for many years.
1969 4/4
1995 plus 8
1996 Plus 4 4seater
2002 Aero S1
2013 M3W
2014 Plus 8
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Joined: Nov 2011
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Talk Morgan Guru
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Talk Morgan Guru
Joined: Nov 2011
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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, Auburn Boat Tail
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Posts: 28,894 Likes: 351
Salty Sea Dog Member of the Inner Circle
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Salty Sea Dog Member of the Inner Circle
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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). 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  Good luck with sorting probate.
Graham (G4FUJ)
Sold L44FOR 4/4 Giallo Fly
'11 MINI Countryman Cooper D All4
'90 LR 90 SW
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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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Joined: Jun 2014
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Wave & smile... It's a Morgan Member of the Inner Circle
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Wave & smile... It's a Morgan Member of the Inner Circle
Joined: Jun 2014
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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 XXVII Platform, Bugatti Blue Roadster 4 Seater
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