NSW Corvettes

Technical Tips => Post 84 => Topic started by: flyer on November 06, 2003, 12:35:20 PM

Title: valuation
Post by: flyer on November 06, 2003, 12:35:20 PM

HELP Please!!  My '78 Corvette is on the docks in Sydney awaiting customs clearance.  Because its a '78 car, there is a 15% duty and 10% GST on either the purchase price or market value.  I paid US$9500 about 2 years ago which converts to A$14, 275 which would attract taxes and duties of about A$3,800.  Because of the way the tax rules work, if the market valuation in Australia were less than about A$18,000 then I'd be better off.

So, my questions are:
(a) what are the odds of a licensed valuer in Australia actually knowing the market value of this car?  Does anyone know a knowledgable valuer?
(b) what is you guess as to the market value of an original '78 L82.  Brown in colour, about 90,000 original miles, engine needs a little work, body and interior generally in good condition for a daily driver.  Still LHD (and would need to be converted since its <30 years old)?

Any advice or thoughts?  As usual, thanks guys!

Allan

Title: valuation
Post by: 77CVT on November 06, 2003, 01:28:25 PM

Your car (LHD) would be worth less than $18 000 easily!  I certainly wouldn't pay more than $15k no matter how good a condition it was in.

Cheers

Title: valuation
Post by: Brutus on November 06, 2003, 03:38:33 PM

Chris is right. LHD cars that need to be converted are not all that high up in the price range. Good luck.
Check out this 76Vette (http://www.users.bigpond.com/randcorvette/1976_corvette_coupe.htm) for a comparison on cost and condition.

(http://www.users.bigpond.com/randcorvette/nuvettorange.jpg)

Title: valuation
Post by: Brutus on November 06, 2003, 03:56:02 PM

As opposed to this 74 Vette (http://www.users.bigpond.com/randcorvette/1974_corvette_coupe.htm)

(http://www.users.bigpond.com/randcorvette/nuwhite.jpg)

Title: valuation
Post by: The White Knight on November 06, 2003, 04:07:22 PM

Flyer I am a registered valuer & run a car yard your car wholesale is worth about 10- 12 thousand dollars with what is needed to do to it if you need a written value i can organise it for you.
       Regards Garry.
  PS any money we can save you from the government will be good.

Title: valuation
Post by: Brutus on November 06, 2003, 04:17:04 PM

Now you tell me you're a registered valuer!! :22 I could have saved myself some money getting my last valuation by coming straight to you Garry. That'll teach me to ask around first.:b2
Oh well.
Bob

Title: valuation
Post by: 69 DIRTY RAT on November 06, 2003, 10:33:07 PM

Flyer ,The Government deserves the least amount of taxes as possible,seeing we are one of the most taxed country in the world!!!!!!!!!.Anyway when I brought my vette in I valued it at only US$5000 ,I used a hand written receipt for this amount from the guy I bought it off!!!.My vette is a 69 big block in goood condition!.Can you get someone in the US to write you a receipt or is it to late! I think you could quite easily get it down to about US$3000 - 3500. BIG SAVINGS.:)

Title: valuation
Post by: flyer on November 07, 2003, 11:58:10 AM

Dirty Rat -  Unfortunately, I've already declared the real purchase price ... I was too dumb to think of this ahead of time.

Garry, you are my hero:)  Please tell me how I can make contact with you and organise a suitable official valuation - obviously happy to pay for your time, etc.

You can email me off list (aaaron@tvp.com.au) if convenient.

Thanks all!

Allan