[Rob P]

Hehehehehe!

[an-rv8or]

A proper airplane for that money, sorry the RV 3 is not for sale!!

[foxmoth]

Certainly makes me reevaluate what our 7 is worth!

[Rob P]

And now an RV6 half share going at Damyns Hall.

Suddenly there's RVs everywhere

Rob P

[Rob P]

Certainly makes me reevaluate what our 7 is worth!

Valuing an RV for insurance is a nightmare.

XB is currently covered at 54% more than I paid for it three years back and yet we would have to add a chunk of money on top of a settlement in full to afford any of the aircraft currently on offer even assuming a bit of negotiation.

Yet, increased premium apart, how would Visicover view a valuation greater than double the purchase price?

Rob P

[hatzflyer]

Goes back to my post a few months back ...what happens if someone else writes if off for you ?
It's hard to cover all events and not pay way over the odds for years if you don't have a claim.

[Rob P]

I seem to remember from commercial law that you could suffer a penalty if you under-insured property.

So if you have a £20,000 item and you only insure it for £10,000, in the case of £10,000 damage, the insurers may only pay £5,000.

I wonder who is competent to set a value on an RV in today's market?

Rob P

[Paultheparaglider]

If I were you, Rob, and I was valuing it at a significant mark up to purchase price, I would be tempted to approach my broker or underwriter with some evidence to support your estimated valuation, and ask them to confirm in writing that they were happy to accept that your valuation was indeed reasonable.

Asking them in the event of a claim might lead to a battle, even if they had accepted the higher premium based on your valuation at policy inception.

Belt and braces, if you like.

[PeteSpencer]

All these RVs for sale|:

Is there a terminal/life threatening/ bank busting AD coming up?

Peter

[Rob P]

If I were you, Rob, and I was valuing it at a significant mark up to purchase price, I would be tempted to approach my broker or underwriter

I feel a call to Bob coming on.

Rob P

[scottish_ppl]

some of these asking prices and valuations seem a little... optimistic...

[ianfallon]

some of these asking prices and valuations seem a little... optimistic...

A friend put his RV12 up for sale for silly money just to see what would happen. What happened is it was sold in a week or so !

[hatzflyer]

some of these asking prices and valuations seem a little... optimistic...

Maybe they are but the fact is they are getting their asking prices.
Anything is only worth what you can get for it but if you can get it then it must be worth it to the buyer if you see what I mean.

RVs seem to head skywards in flight at a rate, it seems they go skywards in price ( value) at a rate as well.
They would appear to be a good investment at the moment , far better return than the equivalent amount of cash in the bank and you get to enjoy it.
Win / win situation and if someone buys one they join the win/win situation as well as getting a damn good aircraft.

What's bad about any of that ?

[scottish_ppl]

some of these asking prices and valuations seem a little... optimistic...

Maybe they are but the fact is they are getting their asking prices.

Thats the bit I was dubious about....

I would have expected quite a value gap between an oldish steam gauge 6 or 4 and a new all glass high spec 7, but if people are handing over that amount of cash, foolish for the seller not to aim high, and good luck to him

[Rob P]

As noted previously 'glass' does not necessarily add value to an RV. Many owners and purchasers think the six-pack suits the aircraft much better.

Rob P