Price guide update

Is it time the price guide was updated?  I'm not sure it reflects current market values, I'm not sure I could find a concours 81 gti for 2750, or a concours less than 30k mileage one For 5500 even.

See this thread for example http://www.vwgolfmk1.org.uk/modules.php?name=Forums&file=viewtopic&t=118863&highlight=

My main worry is insurance companies referring to this table for market values, as well as setting expectations for buyers and sellers.

The guide; The Mk1 Golf Owners Club

I would agree, mk1 prices have shot up in the past couple years!


For a typical mk1 with the standard rust issues you're looking at paying £1500 now, when it'd would have been half that a couple of years ago. 8O

If it's too difficult or too much work to update the table, how about just including the date the table was written and a disclaimer.  This might help clarify that it doesn't necessarily reflect current prices.  

Something like 'Price guide as of Aug 2004, may not reflect current market prices' (or whenever it was created) at the top of the guide.

kp-73,

It's one of those time consuming jobs that 'needs doing' but doesn't get completed.

If there is anyone who would be able to produce an accurate, verifiable table then please let me know and you will have you name put next to the completed article.

Any help would be appreciated.

Ta, Dan

kp73 said

Is it time the price guide was updated?  I'm not sure it reflects current market values, I'm not sure I could find a concours 81 gti for 2750, or a concours less than 30k mileage one For 5500 even.

See this thread for example http://www.vwgolfmk1.org.uk/modules.php?name=Forums&file=viewtopic&t=118863&highlight=

My main worry is insurance companies referring to this table for market values, as well as setting expectations for buyers and sellers.

The guide; The Mk1 Golf Owners Club

I'm not sure the links you've chosen reflect Mk1 Golf value….

The problem is, there's a massive difference between cars for sale prices and the actual price that cars are being bought and sold at. There's some dreamers out there, for sure. I do reckon you're right that the guide is a little out of date now, but to make it more up-to-date would be a difficult job, or if shortcuts were taken (eg just add 30% to all prices) would be just as open to criticism as before.

I'm not sure insurers even bother to use the guide - anyone think they do?

Paul, you wrote the prices in the first place if I'm correct - maybe I'm not, how was the information pulled together in the first place?

Was it a bench mark taken from various classic cars publications or eBay and the like??

The prices have risen. You only need to look at the prices in Practical Classics from 5 years ago and you'll see the difference.
As has been said many times before, there are so many variables, condition, mileage, restored vs original, standard vs modified etc. A real minefield!!!

Insurance companies looking at our site? Hummm, maybe but then they make their own offer!!

Hm, was just a thought about the insurance companies.  If I worked at one and was responsible for agreeing valuations for classic cars, the first place I'd look would be owners clubs.

Agree about the dreamers and aksing prices not being equal to sale prices.  Clearly ppl are not using the guide to price thier cars!

A good gauge of the guides accuracy;  would you be happy to accept an insurance payout at the guide price,  or sell you car for the guide price?

So is an out of date guide worse than no guide at all?   What about the suggestion of putting "guide prices as of 2004" or whenever at the top of the guide?

Dano said

Paul, you wrote the prices in the first place if I'm correct - maybe I'm not, how was the information pulled together in the first place?

Was it a bench mark taken from various classic cars publications or eBay and the like??

The prices have risen. You only need to look at the prices in Practical Classics from 5 years ago and you'll see the difference.
As has been said many times before, there are so many variables, condition, mileage, restored vs original, standard vs modified etc. A real minefield!!!

Rajan wrote the guide, not me. I agree prices have risen, but I don't know how much by! For a start, lets get rid of the invented Category A to G, and use industry standard Condition 1, 2, 3 and maybe another for 'restoration project'. And lets not even try valuing modified cars - most modified cars, I'm afraid to say, are worth less than standard ones.

I've offered many times to do individual valuations, for insurance purposes, but nobody has ever taken me up on the offer once the price guide has been pointed out!

Dano said

Insurance companies looking at our site? Hummm, maybe but then they make their own offer!!

Insurance companies don't use the site, they have their own way of valuing cars which is more accurate and up-to-date, but the actual value vs condition is commercial confidential information.

PS The date the guide is first published is already displayed - May 8th 2006

paul_c said

PS The date the guide is first published is already displayed - May 8th 2006

So it is, sorry I totally missed that!

paul_c said

they have their own way of valuing cars which is more accurate and up-to-date, but the actual value vs condition is commercial confidential information.

That's for non classic, no agreed valuation policies presumably?  

Is your offer of valuations still open?  Guessing it wouldn't be a club official valudation, as I didn't think the club offered them.  

I'd be interested in getting a valuation that I could use for an agreed value insurance policy.  I know everyone says under £20k or £10k you can self value, but in my experience you end up haggling the value and have to provide evidence like adverts of similar cars etc.

paul_c said

Rajan wrote the guide, not me.

I stand corrected.

Thank you.  :wink:

Dano said

kp-73,

It's one of those time consuming jobs that 'needs doing' but doesn't get completed.

If there is anyone who would be able to produce an accurate, verifiable table then please let me know and you will have you name put next to the completed article.

Any help would be appreciated.

Ta, Dan

It would be better to delete the outdated price guide by rajan and be done with it.

kp73 said

  

Is your offer of valuations still open?  Guessing it wouldn't be a club official valudation, as I didn't think the club offered them.  

I'm not sure, as a non-member, it would carry any weight now. What's the requirement for insurance valuations to be valid? A member of a car club? Or a club representative? I think I offered it when I was a member, but the club would need to invent a position to say I'm a valuer, and therefore meet the insurance companies requirements, etc. That's probably why it never took off.

There's so many committee members and extras now (regional hosts, facebook updater, etc etc) that someone will be closer, who can do the necessary - of course, they'd need to know what they're looking at. It might be simply they can go along with a copy of the price guide, and correctly interpret the condition and model of Mk1 Golf and read off the price.

I think it would have to be a club rep or by a commercial garage/specialist.  Thanks anyway.

Hope I haven't stirred up any controversy about the guide, I know what a sensitive subject the value of our cars can be!  No disrespect to those who went to the trouble of putting the guide together in the first place either.

just started new tread to build up a picture of what we have been buying and selling golf for to get a better picture of what the prices are at the moment. add yours now.

http://www.vwgolfmk1.org.uk/modules.php?name=Forums&file=viewtopic&p=793434#793434

just get an agreed value then you wont have to worry about market values