15 replies to this topic

[AndyR]

Hi all

I am currently in the final stages of finishing my 8 year project mini. Since starting the project i have moved abroad. Naturally i want to bring it with me to my new home so i can make the most out of my years of work. However in order for me to bring it into the country (Norway) i need to have a valuation of the current market value of the car. I was told that a few magazine pickings of similarly spec'ed cars or an official valuation would do. Due to the spec the former is not really going to be that possible i suspect. Anyone know where i can get the latter? I would appreciate a rough estimate if anybody is able to give me a figure. The taxation will mean that i will have to pay 25% of the vehicles current value so im reluctant to to do anything officially until i know where I stand. Sorry there are no pictures as its not finished yet!

Spec
1980's body painted in Old english white with black roof
- new scuttle
- new a panels
- 1/4 panel bottoms repaired
- Fibre glass rear valance
- Fibre glass boot floor
- Rear bins removed
- New rear subframe
- Refurbed front subframe
- Ally skinned refurbed doors
The car could do with a respray as it was painted in a rush as cheaply as possible by a body shop, just to seal the body and prevent it from rusting after all the body repairs. All the repairs were done by myself (apart from the doors which were dont by the minidoor company), and im no professional - but i believe all repairs to be safe and sound.

The car has a 6 point bolt in roll cage with harness bars and rear X, made by Geronimo Cages

New Sparco Monaco Pro seats with TRS 3" pro 4 point harnesses attached to roll cage.
Aftermarket Hi-los, New Cones and Gaz shocks all round
Rear camber and toe in adjustable brackets
Front Fully adjustable Camber
Solid mounted front subframe and Poly bushed rear subframe
Metro 4 Pot calipers with solid vented discs
New copper brake lines all round and braided hoses from master cylinder to pressure relief valve
13 x 7 Black Super Mini alloys (originals) on Yoko A539s (all new)
ETB Digidash
MPI Steering Column and Stalks
MPI Loom and Fuse box

Specialist Components built 1380 with BMW K1200RS head and fuel injection with Typhoon ECU
Quaife ATB Diff in Helical Box
Maniflow S/S 1 7/8" full system with SC S/S Manifold
MPI tank and new Copper fuel lines and braided lines from tank to copper and copper to fuel rail
Ally Radiator - most likely chinese made
Plastics4Performance polycarb windows - opening 1/4 windows
Electric window kit
New Head lining
New Carpets
DSN Classics Billet door furniture

Virtually everything is brand new out the box, including nuts and bolts!

Anything else that was original off the car, radius arms/top arms subframe etc were all shot blasted and refurbished by myself.

I feel everything has been done to a very high standard as I am a perfectionist, but i guess this is subjective (it wasnt boshed together is what im saying)

I am terrified to add up all the receipts but you can imagine!

Like i said the only thing that lets the car down is the quality of the paint job - but this will be redone when it comes to Norway.

Would love it if anybody would be able to give me a rough sale price for the private market so i know what to look out for. I have no intentions of selling it so will have to go the official route in the end but it would be nice to know how tight to pull in the purse strings!!

Many thanks in advance

Andy

[jamiestevenbell]

Ok so am I right in saying your going to have to pay tax on what ever the final value is so why not get a price off we buy any car and pay less tax lol

[markosparko1994]

or possibly the original value of the car, I also believe that the british mini club do a valuation service?

[AndyR]

Well, i asked the same questions. Apparently it has to be a current market value based on condition, age, mileage, etc. This is the grey area for me, as im not sure if the engine and aftermarket upgrades are considered as value adding "benefits." If i just went for a low price i could face getting to the border and them saying "ahem...i think this is worth more than what you are suggesting, are you trying to dodge tax? Please turn round and go back!"

Any ideas as to say valuing a car in the uk for insurance purposes?

[AndyR]

Would the british mini club increase value based on engine modifications? Do you think?

[Old Bob]

Surely the question should be "What would you expect to get if it was advertised on the open market - eBay?" It will be a lot less than the cost of the component parts + the labour.

I think you may be dissapointed at the true value but very pleased at the valuation for import taxes.

Bob

[AndyR]

Yeah, the long and short of it is exactly that (I'm just not that good at getting to the point!) haha

To be honest as i said, im not interested in selling it so i couldn't care less how much its valued at. Like you said, i'd actually prefer that it was valued at less. As most us mini people appreciate, we dont expect to get back what we have put into them, its all about the enjoyment right? - that's why im going through the extra expense of paying the tax to bring it with me - which on top of the long and expensive parts list i wont get back if i resell it.

Any numbers in mind based on that?

Regards Andy

[jamiestevenbell]

5k

Edited by jamiestevenbell, 11 June 2012 - 07:09 PM.

[CobraV8]

What country are you going to that charges 25% tax on a used older car?

[jonny f]

pictures speak a thousand words!

[mk3 Cooper S]

Ok so am I right in saying your going to have to pay tax on what ever the final value is so why not get a price off we buy any car and pay less tax lol

Genius

[minisilverbullet]

I am not sure you need to pay a tax import on a private car import, especially if it is a used car. Maybe Norway is different?

Is the car fully built? If it is I would be inclined to remove the engine and import it as a project.

Also If Norway is anything like Sweden which it normally is - you cannot import a modified car. Might be worth checking.

[minisilverbullet]

"Blatherskite" is a Norwegian member, maybe he can help you out.

[AndyR]

I have been on the phone to Tollvesenet (Tax Authority) and Norway has changed its import laws in the last few years to standardise importation of cars. Basically there is a charge (registration fee) based on horsepower, emissions, weight and age (about 2.5k) and then VAT that is standard on all import items set at 25%. If 5k is was it was worth on the private market as jamiestevenbell has suggested then 3750 it is then. Webuyanycar will only value a standard cor on their website - so would be misleading and i doubt would impress the import control i have to have at the border!

I have heard things about importation of project cars, but not sure how it works, will check it out.

[jamiestevenbell]

if its not running how could they expect you to give horsepower details lol asin how much work would it be to send it there without the head on lol then its just a fancy a series block lol and get the head sent seperately to you.