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Carnet question: Who determines "Market Value"? Carnet question: Who determines "Market Value"?
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Photo by Andy Miller, UK, Taking a rest, Jokulsarlon, Iceland

I haven't been everywhere...
but it's on my list!


Photo by Andy Miller, UK,
Taking a rest,
Jokulsarlon, Iceland



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  #1  
Old 5 Jan 2013
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Carnet question: Who determines "Market Value"?
Looking into obtaining a carnet via our Canadian Auto Association. Who determines "market value" for the vehicle for the bond? How is this number calculated and does it take into consideration the specific vehicle (condition, mileage, etc) or just a generic year, make and model?

Just wondering if we need to beat the crap out of our bikes more before applying...?
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  #2  
Old 5 Jan 2013
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To be honsest I even didn't think about it that hard! I just wrote a value, which I considered to be better low than high. Just in case sbdy. is requiring money out of the disposal, it could be better to have a low value vehicle....?

I wrote the minimum which this particular bike could be.

Maybe it helps...
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  #3  
Old 5 Jan 2013
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Hi,

I wrote 500 Euro for my Transalp wich was the price i bought it for

Adventure Motorbike expedition through africa - Transafrika part 1

Tobi
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  #4  
Old 5 Jan 2013
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So it's based on the honour system? What's to prevent me from stating that the bikes are worth $1 each? Is there some kind of check in the event of a ridiculous assessment?
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  #5  
Old 5 Jan 2013
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Well, I wouldn’t take the p*ss if I were you, e.g. by declaring a totally unrealistic value.

Go for the low end of the valuation scale by all means; we all do that. BUT if you’re seen to be disrespecting the system then CAA would probably revert to and rely on a value from one of the recognised guides like AutoTrader or the Blue Book. Maybe insist on it, which could easily turn-up a higher valuation than you could have gotten away with beforehand.

Don’t forget you’ll get your security deposit returned, whatever the amount, when you finally discharge the carnet.
.
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  #6  
Old 7 Jan 2013
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Most is said here. You can define the amount by yourself.

The issuer of the carnet can refuse the carnet, if it is to low - what happens.

But:

Read the small written stuff on the carnet contract. The country where you loose your car, will estimate the value.. So the value you provide just set the ammount of deposit.

You have to pay more than the deposit - if needed.

Use google translate for my blog entry about:

Trans-Africa: Carnet de passages
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Old 7 Jan 2013
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I have an "agreed value" insurance policy. To arrive at the agreed value I have to take the bike to a main dealers each year for a valuation. What they do is use the Glass' Guide to give a base price for a vehicle of that year/condition and then add an amount for the value of the accessories. I suggest this would be a logical route to take to enable the question on the form to be answered fairly.
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Old 8 Jan 2013
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Value? Depends on so many things...
There are lots of ways to determine a value of something.

If you had to sell it today, right now... the value would be low (the quick sale).

If you had to buy a replacement today, right now .. the value would be high (the quick buy).

Between those two extremes is where most people are.

When you value it for a carnet - remember that the value should be what it worth when it has got to those countries ... if you travel 5,000 miles to get there then ?
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  #9  
Old 8 Jan 2013
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I went to a dealer and asked what they think my bike is worth.
At least here in Germany, ADAC has a limit of 13k€ or 15k€ (do not remember which) for the price. Below these limits, it does not matter what is the cost of the bike, you always need to give 3k€ (refundable) deposit to ADAC.
If value is higher than this, then deposit will get higher.

Please, correct if I am wrong, but this way I "decoded" ADAC guides ADAC Reise & Freizeit - Carnet de Passages - Englisch
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  #10  
Old 31 Jan 2013
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In the UK the lowest value RAC (or their insurers) will accept is £1000
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