Following my father's recent passing, we need to get an approximate figure for probate value of his NA, which has been off the road since 1975. We were wondering if anyone has any ideas of what this might be, or who we could go to for a valuation.
I keep a regular watch on the cars being sold and the prices achieved. Recently the demand for the pre-war cars is at a low level as witness the time some cars have been on the market despite the asking price being gradually lowered. Added to this is the trend for the younger generations to prefer cars from the 1980/90s i.e. Mk 1 VW Gti etc
The best way to obtain a valuation for the NA might be via an auction house such as H & H who have experience selling our type of car?
I believe Colin might have kept a collection of parts for the Triple-M cars - he kindly sold me a complete diff. If this is the case then you need to take care as period parts are now scarce and some can command good prices.
If you count the MG as a vehicle rather than an investment it is allowable for the Executors to sell it before probate is granted. In which case auction houses will get a good price for a barn find and the value will be seen by the revenue as a fair market value. I'd echo George's point about parts.
Probate valuation
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Posted - 28/06/2024 : 17:17:37
