Insurance value for a '59 prototype Moke?

[59Prototype]

The insurance will due again in September on my 1959 prototype Moke (14 BT 18). Back in 1989 when I put it back on the road I had trouble arriving at a valuation that the insurance company was happy with. In the end we finally settled on a figure that both I and the insurance company accepted. Since then I have updated the figure from time to time but based on no more than my own gut feeling. The problem has always been because there were only a few prototypes made in 1959 it’s difficult to make any sort of comparison and hence arrive at a valuation. Perhaps I should now try and determine a more accurate figure so would appreciate the comments of the Moking fraternity on this forum as to what value I should put on it for insurance purposes?




Graham

[Wally2]

Hi Graham,
Has one every come up for sale/been sold?
Could any of the specialist insurance companies help, i.e. Hagerty?

http://www.hagertyinsurance.co.uk/classiccarvalue

Good luck

Chris

[4XMOKE]

Graham,
On one hand, it's priceless, you ain't gonna buy another, you can't replace it.
On the other hand, as Chris suggests, although sales of these are somewhat thin, it does have a market value that could be worked out.
More to the point though, is cost of repair should it ever get damaged. It's unlikely to ever become a complete loss, look at the case of Old Number One, but it could well be up in the tens of thousands if it was ever involved in a serious RTA. A spray job of any consequence is at least £2500, replacement panel manufacture and labour to straighten it easily exceed £10k for something relatively minor.
Please make sure you have sufficient to cover for this gem of Moke history, and an option to buy it back should it ever be "written off".
Good luck with your insurers!

Roger G

[59Prototype]

Thanks for everyone's comments. I think you all understand the problem I am having.

As you know a 1959 prototype Moke is not listed using the Hagerty insurance online valuation system. That was not surprising but worth a try. I've since emailed them about a valuation and they have responded with:

Thank you for your email, as our valuations guide is made up from sales information and the information of similar vehicles we insure sadly the pre-production version would not be listed. We would suggest contacting the owners club or an auction house for a full appraisal and valuation.

Any other thoughts, anyone?

Graham

[Wally2]

Hi Graham,
Do we (the club) know any one else with a prototype? If so can they give any advice?
Cheers
Chris

[spider]

There are professional car valuers about, it would cost a few bucks, but you'd receive a report which would detail not only a value, but how they arrived at that value. I feel this would be money well spent as the Insurer's couldn't argue then, which they so often want to do after a claim is lodged.

If you didn't want to go that route, try an auction house, or the likes of The Throttle Shop, they may be able to give you a guide.

http://www.classicthrottleshop.com/

Or, list it on ebay with some stupid reserve, then you'll know to the dollar what it is truly worth, as anything is only ever worth what the market would pay.