Probate Value - Bentley Turbo R

[100 IAN]

Can anyone help me with a probate value for my father-in-laws '97 Turbo R.

Its only done 61k miles and is in good but not very good condition. There are some patches of rust starting to bubble but nothing serious.

Other than PH classified and autotrader where would you recommend i advertise it for sale?

[RoyaleDetailing]

100 IAN said:

Can anyone help me with a probate value for my father-in-laws '97 Turbo R.

Its only done 61k miles and is in good but not very good condition. There are some patches of rust starting to bubble but nothing serious.

Other than PH classified and autotrader where would you recommend i advertise it for sale?

Anthony

I would also say keep an eye on ebay as there are many that come up for sale there. 97 would be one of the last made, so i would say at top price about £16k. But you mentioned the mileage and the rust etc, so I would suggest about £10-11K. If its due a major service knock off a bit more.

Thats my general feel of where the price sits.

[dazzalse]

There would be a difference between what probate value is and what you are going to get if you advertise the car privately, probate value would be a lot less, i.e what can be achieved for the car at that moment in time for immediate sale, i.e auction price/no reserve

[stain]

I would say the probate is around 7k i.e. half what it is really worth. When I sold my RL that was the level some of the bids came in at but I eventually sold for 19k. Not easy things to sell, particularly to people who don't understand them.

[bertie]

Could you not speak to a dealer and get them to low bid on it, they you've got something in writting?

Most dealers will bid really low if it's a stock buy.

[keith9849]

If it is probate value, you are making a declaration to HMRC, and liable to 'correct' the value on eventual sale, so precision is not essential as long as you do correct any error.

The problem is these cars are very difficult to shift (watch as many as you can on e-bay, and you may be surprised at how low the sale values are BUT but also look out for the ones that sell....but then get re-listed, sold, re-listed sold and so on!).

Also check out the dealer adverts (Marlow cars, maybe), then revisit them in 6 months time to find the same cars still sitting there! Also, it seems these cars rust without exception, so that's normal.

Also, red is not a popular colour. I would guess £10k max.

[2708420018]

The golden rule is to get as low a supportable valuation as you can. Ask dealers for a cash offer in writing. You will be surprised how low it is. As executor you should then transfer the car to the beneficiary or legatee and let them sell it. If they get more as they should against a "cash now" bid. then that is their good luck, but if you sell it as an executor then you might have problems unless you can prove that there has been an upward shift in the market since death.

Hope this helps

Paul

[Bluebottle911]

I suggest you put the car's details into Webuyanycar.com - that should produce a low written offer.

[bertie]

Bluebottle911 said:

I suggest you put the car's details into Webuyanycar.com - that should produce a low written offer.

They actually bid quite well, you'd get a written offer from a dealer much lower.

[Bluebottle911]

How extraordinary - I suppose there is a first time for everything!