A recent Single Joint Expert court valuation for UK solicitors saw me valuing eleven vehicles as part of a divorce case, including a number of race cars, a car kept at an overseas holiday home and an American motorhome.
Having valued all of these vehicles many times over the course of my twenty-year valuations career, I understood the issues involved and it was interesting to catch up with some of my contacts to discuss the current market trends.
American motorhomes are quite different to European campers and the used market is radically different. With lower supply and several VAT issues to address, pre-owned prices can be quite a minefield, so it needs careful explaining for a judge in a Single Joint Expert report.
The finished report on this large car collection was quite involved, but it addressed several important questions that the parties could not agree on. As with most of my reports, there were no questions in the ten-day period after submission, so the whole job concluded smoothly.
Hopefully the parties can now go into mediation and agree a mutually satisfactory settlement at the Final Hearing, rather than having to go to court. Court is not the ideal place to pursue a divorce – it does not always bring the best settlements, particularly where pension disputes and classic car collections are involved.
Photo by Winnebago Industries