How much is it worth?

[mrs.smith2012]

Do you find that that with regards to your classic people.. friends, family, and complete strangers are often very bold in asking ‘how much did it cost you?’ or ‘what’s it worth?’

Am I being sensitive when I say that I don’t feel comfortable with these kinds of questions? I don’t mind when discussing numbers with fellow owners but when people just want to know for no reason other than just wanting to know… I just find it weird. I wouldn’t ask someone how much their car cost.

Anyway I always find myself getting put on the spot because it’s something that people will ask me very often, and I never know quite how to respond without causing offense! Anyone with me on this? How do you deal with it?

[geoberni]

A - Depends who it is, complete strangers who are just being nosey, I often give a non-answer something like ....'Any classic car is worth what someone is willing to pay for it.'

B - If it's a fellow Minor Owner, we'll get into an actual discussion about the trends in prices.

Family and friends don't tend to ask, probably because they know me, and they understand might get answer A

[les]

I can’t ever recall being asked that question, maybe I move in polite society . However you can either tell them, or say something like ‘quite a bit’ or ‘I’d rather not say’ or words to that effect. ——you could of course say ‘mind you own business’ Incidentally how much did you pay for the Minor ?

[mrs.smith2012]

None of your business

Kidding… I paid £4,500 for her… which I feel was a very good price. See I don’t mind sharing that info with you lot on here… I just find it awkward when friends/family/strangers ask me because they have no intention of buying one, they just want to know. I think I’m one of those open books where people feel like they can ask me stuff… I normally just tell them then kick myself afterwards

[les]

The last part of my post was just a bit of fun, I certainly didn’t mean it literally, sorry if it put you in an awkward position

[mrs.smith2012]

The last part of my post was just a bit of fun, I certainly didn’t mean it literally, sorry if it put you in an awkward position

Oh you didn’t! Like I said… discussing with fellow moggie owners is completely different to someone just wanting to know how much your car cost just for the sake of knowing. I think I’ve already openly discussed the price in here when I was debating whether to buy her. I wasn’t sure back then what constituted a good price… I realise now that was definitely a good price!

[Bill_qaz]

Just reply priceless to me

[mrs.smith2012]

Just reply priceless to me

Yeah that’s a good one… and if someone says “how much did you pay” I’ll say “20 quid and a bag of McCoys”
Sound legit?

[Bill_qaz]

Just reply priceless to me

Yeah that’s a good one… and if someone says “how much did you pay” I’ll say “20 quid and a bag of McCoys”
Sound legit?

Or better still, £1 less than its worth, people love a bargain.

[mrs.smith2012]

Just reply priceless to me

Yeah that’s a good one… and if someone says “how much did you pay” I’ll say “20 quid and a bag of McCoys”
Sound legit?

Or better still, £1 less than its worth, people love a bargain.

Good one

[mike1864]

Just reply priceless to me

Yeah that’s a good one… and if someone says “how much did you pay” I’ll say “20 quid and a bag of McCoys”
Sound legit?

Coincidentally £20 is exactly what my mother paid for my current Minor, when she bought it off her brother-in-law in 1970 to give to me for my 20th birthday.
(And Uncle Roy had just had it serviced. And filled the petrol tank!)

[svenedin]

Now my car is fully restored I have had people asking me what it's worth. I am not really inclined to enter that discussion! It is worth a very great deal to ME and that is all that really matters as far as I am concerned.....

On the other hand, I did take advice on what to set as the "agreed value" with the insurance company. This is important. The club insurance policy with Peter James insurance allows the insured to agree a value with the insurer that does not require independent valuations and is very straightforward. Obviously, a higher agreed value gives a higher insurance premium each year. Morris Minor Workshop advised me to pick an agreed value that accurately reflects what it would cost to buy a decent, solid car AND restore it to the condition of my car. So the "agreed value" is not market value it is replacement AND the cost of bringing a replacement vehicle up to the standards required. This makes sense because there are probably zero cars available that I could buy that would be of the standard of my car as it is now and on the market when I needed to buy.

Stephen

[Paladin1962]

The Tax man says it's a Rolls Royce; the insurance man says it's a rusted out Panda. The Green party says it's destroying the world.

[leafie]

I always say "too much " as nobody else bought it before I did.

[mrs.smith2012]

I always say "too much " as nobody else bought it before I did.

I’ve got an agreed value with PJ too…
And thanks all, at least I have some smart answers ready for future nosy parkers

[mrs.smith2012]

The Tax man says it's a Rolls Royce; the insurance man says it's a rusted out Panda. The Green party says it's destroying the world.

Yet it’s fine to roll out these washing machines on wheels that have a life span of about 5 years

Yeah let’s not go there