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"Blue book" equivalent in Ireland

  • 11-04-2013 11:56am
    #1
    cornbb
    Registered Users, Registered Users 2 Posts: 6,790 ✭✭✭


    Is there a de-facto way of determining "fair market value" for motors in Ireland? I know in the US they have the Blue Book - do we have something like that here, or is it a matter of getting a feel for the market by poking around on donedeal etc? For example, how would insurance companies determine fair market value when settling claims?


Comments

  • #2
    R.O.R
    Registered Users, Registered Users 2 Posts: 12,730 ✭✭✭✭R.O.R


    cornbb wrote: »
    Is there a de-facto way of determining "fair market value" for motors in Ireland? I know in the US they have the Blue Book - do we have something like that here, or is it a matter of getting a feel for the market by poking around on donedeal etc? For example, how would insurance companies determine fair market value when settling claims?

    There is "the book" in Ireland. It's the Motor Trade Publishers Car Sales Guide, and is only available to the Motor Trade.

    From recent experience of dealing with Insurance Companies, they don't seem to have any set process. RSA/123 farm it out to a UK based company for (laughable) valuations.


  • #3
    congo_90
    Registered Users, Registered Users 2 Posts: 2,339 ✭✭✭congo_90


    OMSP open market selling price is what the government use.


  • #4
    cornbb
    Registered Users, Registered Users 2 Posts: 6,790 ✭✭✭cornbb


    I'm aware that insurance companies are bound to use a source that lowballs the value. On the other hand, I just tried Revenue's OMSP tool and it quotes a figure that is at least 30% more than what I could realistically expect for the car. So it looks like everyone is skewing the numbers in a direction that goes in their favour.

    Thanks to you both for very useful replies.


  • #5
    Silvera
    Registered Users, Registered Users 2 Posts: 4,031 ✭✭✭Silvera


    There is an opening in Ireland for a used car sales guide for the general public.
    In the US the public can buy the aforementioned 'Blue Book' in a booksellers/newsagents, and in the UK consumers can likewise buy 'Parkers Price Guide'.

    Perhaps the new Irish 'Car Adviser' magazine could include a used car price guide in their publication?


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