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Mk1 valuation
https://www.ausmini.com/forums/viewtopic.php?f=2&t=88949		 Page 1 of 1
Author:  dgear1984 [ Mon Mar 23, 2015 7:32 pm ]
Post subject:  Mk1 valuation
Hi,

I have recently moved to Melbourne and considering to import my mini here from the uk.

I can easily import the car my only query is the vehicles value in australia to declare for the GST.

The car started life as a mk1 deluxe 1275 automatic. It has since be restored into a full cooper s spec replica. I have never tried to pass it off as a genuine S

I have attached a link to where I asked people in the UK for a value for insurance.
http://www.theminiforum.co.uk/forums/to ... insurance/

Any ideas how much I should declare it for? I don't want to put a too lower price other wise customs could refuse the value and charge me for an inspection by an expert and on the other hand I don't want to price too high as Ill be paying lots of tax. Im sure it might help taking the Cooper S badges off and putting some old wheels on :-)

I have done some research into importing the car but If anyone has any advice for importing the car, Im all ears

Thanks Dave
Author:  iamstib [ Mon Mar 23, 2015 9:53 pm ]
Post subject:  Re: Mk1 valuation
id say $16-18k? but im a noob lol
Author:  Bubbacluby [ Mon Mar 23, 2015 10:05 pm ]
Post subject:  Re: Mk1 valuation
I would go 10k max.
Author:  simon k [ Tue Mar 24, 2015 12:28 pm ]
Post subject:  Re: Mk1 valuation
damn, that's a really nice car - if you sold it here you'd get someone to pay $20K even though it's not genuine...

I guess what they're asking is "if you sold it tomorrow, what price would you put on it", and you can say "well, I'm a motivated seller, so I'll put a price on it that will ensure that it'll sell within 24 hours, but enough that I'd be reasonably happy with the money"

So write $15K on it
Author:  Goldbrocade_62 [ Tue Mar 24, 2015 2:49 pm ]
Post subject:  Re: Mk1 valuation
Its probably more original than others out there
Author:  Babes [ Tue Mar 24, 2015 4:54 pm ]
Post subject:  Re: Mk1 valuation
Yes very nice, been looking for a dash like that for ages. You would get $20k+ for it but I would put $15K on the import value.
Author:  Timbo [ Wed Mar 25, 2015 9:23 am ]
Post subject:  Re: Mk1 valuation
Great looking car!

Make sure that you make it very clear that its a replica on the import paperwork. The last thing you'd want is for Customs to be fooled by it and decide that you should have valued it much higher.

Tim
Author:  dgear1984 [ Mon Mar 30, 2015 10:50 am ]
Post subject:  Re: Mk1 valuation
Babes wrote:
Yes very nice, been looking for a dash like that for ages.


I might be importing some later this year, so keep your eyes pealed on the "for sale"
Author:  dgear1984 [ Mon Mar 30, 2015 10:51 am ]
Post subject:  Re: Mk1 valuation
Hi,

Thanks for the replies.

$15k works out not too bad on import taxes, maybe I can get it here sooner than I first thought.
Author:  deluxe67 [ Tue Mar 31, 2015 8:19 am ]
Post subject:  Re: Mk1 valuation
Hi Dave,

I have a very similar car to yours, its even a 1967 (actually mines better cos it's got wind up windows with 1/4 windows, haha). I got the car insured by Shannons (a popular insurer here that specializes in historic and interesting cars) two years ago. I was interviewed over the phone by an agent who really knew all about Mini's. He asked a couple of dozen questions regarding all the modifications etc. I was offered $15,000 full replacement cover on the spot which I accepted. If I wished they were happy to inspect the car to possibly increase the insurance value.
I had completely rebuilt the car mechanically ground up. Everything was new or restored however the body and interior were still original. Now the body and interior are fully restored I expect the value has increased dramatically.
I would imagine your car would be valued at $25,000 easily.
Hope this helps.


PS My car remains a Mini Deluxe, at least according to the badges :mrgreen:
Author:  RNY997 [ Tue Mar 31, 2015 2:22 pm ]
Post subject:  Re: Mk1 valuation
get a redbook valuation or an insurance quote from shannons
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