magazine classic car valuations

[Polarsilver]

I get a Classic Cars February 2024 Magazine it is supplied foc from my Bank..( this info is in their February 2024 edition sent out in December 2023 )
"Price Guide Movers" & showing "On The Slide" is the ..Austin Mini Cooper 997/998- 61-69 .showing a -3.1% drop in value.
Classic Cars Magazine publish their Cooper values as Concours @ £27,500 ..Mint @£19,500 ..Good @ £11,000 ..Rough @ £6,000
Therefore If i buy a "Rough" Cooper & spend £5k on repairs.. will this car become a "Good" in value Cooper .. dont think so .
what are you thoughts on these Car Magazines that provide Classic Car Values.

This magazine refers to Hagerty so i look at their valuations that show Concours = £36,800. Excellent = £26,800. Good = £ 18,800.
Pays your money & takes your choice.

[richardACS]

I've rarely found they match actual values...

[hanlminiman]

HAG ERRrrr? TI?
Check out the sponsors of classic car events? Just suggesting. Dare I mention Goodwood or Silverstone events for example. Money/profit drives the Classic events. I think - but might be worng.

[tweedy998]

I'd take them with a pinch of salt and not get too hung up on it all to be honest.

These things ebb and flow, and as long as you're getting enjoyment out of driving / owning the car, then the perceived value becomes neither here nor there in my view, especially when the car has been bought as a long term thing to enjoy and look after. Unless of course, you're buying the cars as 'investments', which is always going to be a slightly dangerous game to play...

[Polarsilver]

Classic Car Insurance is due renewal and given this evidence .. do i keep the existing agreed values or maybe drop them by 3.5%

[tweedy998]

Classic Car Insurance is due renewal and given this evidence .. do i keep the existing agreed values or maybe drop them by 3.5%

I'd personally keep them as is..

Our insurer voluntarily increased our agreed value by 20% this year...

[richardACS]

I'd take them with a pinch of salt and not get too hung up on it all to be honest.

These things ebb and flow, and as long as you're getting enjoyment out of driving / owning the car, then the perceived value becomes neither here nor there in my view, especially when the car has been bought as a long term thing to enjoy and look after. Unless of course, you're buying the cars as 'investments', which is always going to be a slightly dangerous game to play...

Might be useful if you are being tempted to buy a car) (rather than those that are already an owner?...

[tweedy998]

I'd take them with a pinch of salt and not get too hung up on it all to be honest.

These things ebb and flow, and as long as you're getting enjoyment out of driving / owning the car, then the perceived value becomes neither here nor there in my view, especially when the car has been bought as a long term thing to enjoy and look after. Unless of course, you're buying the cars as 'investments', which is always going to be a slightly dangerous game to play...

Might be useful if you are being tempted to buy a car) (rather than those that are already an owner?...

In that instance, I'd personally be conducting my own research and comparing cars like for like in classifieds, auction results, etc... I wouldn't be relying on the opinions of writers of a magazine, as in my experience they are often way off beam with this sort of thing (there's a lot of very lazy journalism knocking about these days, but I digress). For example, one of the other (non-Mini) cars I own is often the subject of magazine articles, I remember a couple of years ago a magazine article which featured a little buying guide feature with it, C&SC if my memory serves, in this it stated a good example could be bought for a certain price, let's say it was £5k, in reality a car hadn't come on the market and sold at that sort of level for several years, in reality, the cars were selling for we'll say £10k upwards. They were so far off the mark it was quite embarrassing. I think when it comes to buying cars I think they naturally find a level within the process where hopefully both seller and buyer are happy with their lot, that said we probably all know someone who's overpaid but probably as many who've undersold...

[Vintage to Classic]

It’s a shame that the “sold” prices at auctions aren’t represented more realistically.
They always publish them including the buyers premium, (commission) which for example at Bonhams is 15% plus VAT at 20%. (VAT is only on the commission).

So the car hasn’t actually sold for that, it gets worse, as there is usually a sellers commission too, (unless you’re on special terms) meaning a car with a hammer price of £10,000 has “sold” for £11,800. ( £1,500 commission plus £300 VAT added to hammer price.

The seller then has their fees deducted from the hammer price and is also charged VAT on these.

A car perceived to be “WORTH” £11,800 may have only given the seller a return of £8,500.

[mab01uk]

Looks like I should have repaired the rust on my Ford Escort XR3i (MkIII) daily driver back in the day, rather than taken the £75 from the scrap man....XR3i (MkIII) prices up 75%

Quote:
"There are now over 50,000 years, makes and models of classic cars covered in the 'Hagerty Price Guide' from the Edwardian era to modern classics.
This year was a strange one in the classic car market, with the majority - 75 per cent - of cars in the guide static in value, with 14 per cent falling."
https://www.thisismoney.co.uk/money/car ... -2023.html

The top ten classics at the sub-£30,000 - end of the market category that rose most in value 2023:
1. Subaru Impreza Turbo 2000 - up 161%
Avg Price Dec 2022: £5,000
Avg Price Dec 2023: £13,050

2. BMW Z3 Roadster - up 131%
Avg Price Dec 2022: £6,000
Avg Price Dec 2023: £13,850

3. Ford Escort XR3i (MkIII) - up 75%
Avg Price Dec 2022: £7,875
Avg Price Dec 2023: £13,750

4. Lancia Beta Berlina - up 44%
Avg Price Dec 2022: £4,000
Avg Price Dec 2023: £5,750

5. Citroen CX - up 43%
Avg Price Dec 2022: £6,825
Avg Price Dec 2023: £9,750

6. Ford Escort XR3 - up 43%
Avg Price Dec 2022: £7,700
Avg Price Dec 2023: £10,975

7. Renault 4CV - up 42%
Avg Price Dec 2022: £6,850
Avg Price Dec 2023: £9,475

8. Talbot Sunbeam-Lotus - up 42%
Avg Price Dec 2022: £16,350
Avg Price Dec 2023: £23,275

9. Vauxhall Calibra 2.0 8V - up 37%
Avg Price Dec 2022: £1,750
Avg Price Dec 2023: £2,400

10. BMW Z3 M Roadster - up 36%
Avg Price Dec 2022: £20,000
Avg Price Dec 2023: £27,275