Whats the current market value on a CSL ?

[digi]

I've not heard this saying before, but I like it :beer:

:hahaha::gayfight::thumbs::beer:

For the diehard fans, this is now a classic, so be rewarded.

But a word of caution, when the global markets dump, the nominal price will be affected everywhere, so a short to medium term potential decline is no doubt in the works.

But overall, my cesil isn't going anywhere.

[Marv968]

An SB was advertised for sale in April this year with similar mileage, the asking price was £33.5K - Things have obviously moved on since then (5 months). :whistle:

Insurance question - when I renewed my insurance back in April, I put my 60k car down as worth £32k (I didn't go for agreed value, just market value)

If prices for a car with ~60k on the clock really are around £40k now, how does this effect my insurance and also for those who have potentially paid to have an agreed value, only for that to be out of date now?

[khooni]

:hahaha::gayfight::thumbs::beer:

For the diehard fans, this is now a classic, so be rewarded.

But a word of caution, when the global markets dump, the nominal price will be affected everywhere, so a short to medium term potential decline is no doubt in the works.

But overall, my cesil isn't going anywhere.

what's the verdict after the China holidays? i'm hoping the market stabilises

[digi]

what's the verdict after the China holidays? i'm hoping the market stabilises

I don't know the day to day volatilities, but I do know that the petrodollar peg has been destroyed, QE is on-going (UST daily failure to deliver approx. $40B a day - basically stealth QE), PIGS are all insolvent regardless of what the mass media tell you and we are running on ZIRP, NIRP, suppression of FASB 157 etc.

China is one of the largest holders of UST and when you see your savings account being robbed, you react. So to hedge what do you do???? (Gold) and right now the LBMA/Comex gold fix is in USD, thus with a strong dollar (weak EM ccy including the Yuan) they can pickup cheap gold whilst liquidating their UST that are strong (get more for your buck). So, we are witnessing a once in our life time event.

So, before the end of the year I expect alot more turmoil and volatility. Things are unravelling at incredible speed right now. Mass media skirts over it and really diverting peoples attention.

Things are not pretty due to the uncooperative nature of the USD hegemony (Fed network).

[E46CSL]

Thanks

Liquidity & unwind.

[jupe777]

I don't know the day to day volatilities, but I do know that the petrodollar peg has been destroyed, QE is on-going (UST daily failure to deliver approx. $40B a day - basically stealth QE), PIGS are all insolvent regardless of what the mass media tell you and we are running on ZIRP, NIRP, suppression of FASB 157 etc.

China is one of the largest holders of UST and when you see your savings account being robbed, you react. So to hedge what do you do???? (Gold) and right now the LBMA/Comex gold fix is in USD, thus with a strong dollar (weak EM ccy including the Yuan) they can pickup cheap gold whilst liquidating their UST that are strong (get more for your buck). So, we are witnessing a once in our life time event.

So, before the end of the year I expect alot more turmoil and volatility. Things are unravelling at incredible speed right now. Mass media skirts over it and really diverting peoples attention.

Things are not pretty due to the uncooperative nature of the USD hegemony (Fed network).

Holy shit, sell sell sell!!


Actually don't understand what any of that means.

[pops]

Holy shit, sell sell sell!!


Actually don't understand what any of that means.

Pleased I'm not the only one :whistle:

[digi]

If you don't need the cash, hold on to it. London already has a RMB hub so going forward the GBP should be fine as long it hooked up with the factory of the world.

USD on the other hand, they will need to print even more as creditor nations redeem/liquidate their US treasuries. So, it becomes less valuable as its highly diluted and producer nations may even decline to accept it.

[steveH]

Insurance question - when I renewed my insurance back in April, I put my 60k car down as worth £32k (I didn't go for agreed value, just market value)

If prices for a car with ~60k on the clock really are around £40k now, how does this effect my insurance and also for those who have potentially paid to have an agreed value, only for that to be out of date now?

Go ask Buy any Car . com what they will give you for your CSL that will be a good guide as to what your insurers would say if (heaven forbid) the worst happened.
I am an advocate of agreed valuations for any classic / collectable car so best to start the year with a fixed £££ should shit happen and in volatile market renew each year.
BMW Car Club do valuations too :-)

SteveH

[Mike RT4]

Insurance question - when I renewed my insurance back in April, I put my 60k car down as worth £32k (I didn't go for agreed value, just market value)

If prices for a car with ~60k on the clock really are around £40k now, how does this effect my insurance and also for those who have potentially paid to have an agreed value, only for that to be out of date now?

Marv,
Basically you are under-insured. You would have to fight them for any value above the £32k. Although your policy is supposed to indemnify you (which means to put you in the position you were before the accident), the fact that they consider you paid a premium that was for a value below market value would mean they would take the stance that you were under-insured (which means you were not paying the correct premium for the value of the car), so they could get away with paying you no more than the value on the policy.

Personally, I would advise them that the values have gone through the roof and ask them to adjust the policy accordingly (you will probably have to have a small increase in premium to cover this). My renewal came through last week with the value also still at £32,500 (which is what I told them it was worth at the start of the policy last year (up from £30k from the year before)). This time I told them the value needed to be £45k (to cover me for any potential increase between now and next year). The premium was then adjusted from £661 to just over £700 for the additional value.

[Marv968]

Marv,
Basically you are under-insured. You would have to fight them for any value above the £32k. Although your policy is supposed to indemnify you (which means to put you in the position you were before the accident), the fact that they consider you paid a premium that was for a value below market value would mean they would take the stance that you were under-insured (which means you were not paying the correct premium for the value of the car), so they could get away with paying you no more than the value on the policy.

Personally, I would advise them that the values have gone through the roof and ask them to adjust the policy accordingly (you will probably have to have a small increase in premium to cover this). My renewal came through last week with the value also still at £32,500 (which is what I told them it was worth at the start of the policy last year (up from £30k from the year before)). This time I told them the value needed to be £45k (to cover me for any potential increase between now and next year). The premium was then adjusted from £661 to just over £700 for the additional value.

Cheers Mike, I'll speak to classic line then!