UK Probate & Estate valuations for Veteran, Vintage & Classic motorcycles.
My vintage motorcycle interest began more than 30 years ago. Like most hobbies, you gather knowledge about many aspects. As time rolls by, you realise that you constantly study the market values and trends. Now that I have over 30 years within the world of Veteran, Vintage and Classic motorcycles, I am being asked to assist with guidance on the value of motorbike collections for probate purposes.
In my professional career as an estate agent, I have attended many probate valuations. Converting that experience to my hobby comes naturally. I always approach a valuation with sensitivity. I am aware that it is often a very difficult time for relatives. You can be assured that I am polite, respectful and professional.
Why do you need a probate valuation in the UK, for Veteran, Vintage or Classic motorcycles?
HMRC have set a £1500 threshold for individual items within an estate. If Executors believe individual items within an estate are worth more than £1500, then HMRC’s advice is to get a professional valuation of those items as they will need to be included within the full estate valuation. Old motorcycles often fall into this area.
A probate valuation on a motorcycle collection is often just one part of an estate value. Once you have the motorcycle collection valuation, you can combine all of the asset probate values to assist in the full estate valuation for inheritance tax purposes.
What defines a probate valuer for Veteran, Vintage & Classic motorcycles?
Experience & current market value knowledge.
Experience comes from a full & active involvement within our hobby. It also comes from having an extensive library of information on many makes and models. This assists me with an accurate assessment of each motorcycle, or part, in a probate collection.
Current market value knowledge allows me to take the factual information gathered and put an accurate value on the veteran, vintage & classic motorcycle collection, or parts. I travel the country extensively when buying parts or motorcycles for my own collection. This ensures that my valuations are current, as values can go down, as well as up over the years.
My UK Probate & Estate valuations for Veteran, Vintage & Classic motorcycles are not generic. They are thoroughly researched and are bespoke to your collection.
They will include:
- A full assessment of the condition of each motorcycle, together with any engine or frame numbers (if visible)
- Probate value. This is my assessment of the potential transaction price and not necessarily an asking price.
- Any notes that are specific to each motorcycle model including any evidence of history.
- Current market price comparisons.
- Sales and marketing advice.
Will you do an online valuation?
If the motorcycle is roadworthy and sufficient photographic information can be supplied I can do an online valuation. I prefer to attend collection valuations as the motorcycles are often in cramped conditions and difficult for executors to supply good quality photographs that will allow me to make an accurate assessment for probate purposes.
Will you value just a single motorbike?
If the motorcycle is roadworthy and sufficient photographic information can be supplied.
What will the valuation look like?
It will be very detailed and will be in PDF format.
It will include:
- A full assessment of the condition of each motorcycle, together with any engine or frame numbers (if visible)
- Probate value. This is my assessment of the potential transaction price and not necessarily an asking price.
- Any notes that are specific to each motorcycle model including any evidence of history.
- Current market price comparisons.
- Sales and marketing advice.
How much does it cost?
- A single motorcycle online valuation is £80
- Collections of motorcycles will be priced according to the distance covered to attend, values and number of vehicles. Please contact me for a guide.
How quickly can I get the valuation?
It depends on your availability and my schedule. I will always try to fit in with your needs and I can usually attend within a week if required.
Contact me to discuss having a probate valuation prepared.
In the first instance, please use the form on the contact page. Include your telephone number and / or email. I will respond.
Notes:
All submissions and conversations are treated in strict confidence. I will not reveal the location of the motorcycles / parts, unless you make a request for me to do so.
HMRC form (IHT407) to collate personal items & values in the event of reporting for Inheritance Tax calculations.
HMRC guidance on how to value an estate for inheritance tax and then report it.
Please note that HMRC thresholds of individual item values is subject to change. The information on this page is provided as a guide. It is always best to seek inheritance tax advice from an accountant, or lawyer.
UK Probate & Estate valuations for Veteran, Vintage & Classic motorcycles are provided at a specific point in time and are for inheritance tax purposes.
