Modern Insurance Magazine


The Classic Car Market


The Classic Car Market

Back to Listings

Nik Ellis, MD at Laird, discusses the classic car market

What associated markets are expert witnesses working in?

Since inception we have been producing expert witness reports for a selection of insurance, legal and motor trade clients. These are generally based on claims surrounding accident-damaged .  

Over the last few years we have seen an increasing amount of instructions to examine classic vehicles.  This could be pre-purchase checks, post repair exams and a growing number of car valuations. The legal industry asks us to value classic vehicles typically for probate or divorce cases, whilst car clubs and insurance brokers need sensible agreed valuations for insurance or reinsurance purposes.

What type of classic cars?

When I think of classic cars, Jaguar E-types or Chitty Chitty Bang Bang spring to mind. Perhaps even MGBs, Morris Minors and Beetles.  However there has been an ever increasing interest in upcoming classics as of late.  Humble Fords such as Capris, Sierras, Escorts and Fiestas, especially the RS/XR variants, are becoming increasingly sought after. As are Eighties Vauxhalls, again with a GTE or SR badge. Whilst Rovers have a long history of producing cars, some of their more recent models, in particular the SD1, are strongly appreciated in value.

I recall selling a mark 2 Ford Fiesta XR2 for £650 back in the Nineties. We have recently valued a car of a very similar year at £16,500!  These vehicles are becoming investments which not only increase in value but are also fun to own and drive.  We are currently keeping our eye on early Japanese sports cars such as MR2, 300ZX, Integra Type R & MX5, Porsche 924s. As well as, early German sports cars such as BMW M3, M5, Mercedes SL, Golf GTi and pretty much anything sporty that was cool in the Eighties and Nineties.

For us, the classic car market is a growing area particularly encouraged and loved by some of our…shall we say more ‘experienced’ engineers.

Nik Ellis, Managing Director, Laird Assessors

Read more articles from Modern Insurance Magazine here