Auction company was asking more as the reserve price was not met from the insurance company. I offered £15k whilst insurance was asking £20kGiz9 wrote: ↑Sat Nov 13, 2021 11:19 am The second hand value of a 2014 Macan Turbo is in the region of £30-40. Yours is low mileage so let's assume £40,000.
The insurance company would repair the car if the cost of repair is 50-60% of the market value. Since the car was written off, we can assume the cost of repair was more than that. Taking the more generous 60% figure, that means the cost of repair would be most likely be above £24,000.
The insurance company will be trying to minimise its costs so the equation is probably - Repair cost vs Pay market value - resale cost. You can play with the numbers but, if the insurance company cleared £12k for selling the car, the repair cost must have been more than market value - £12k.
This assumes a repair back to Porsche-approved specs for the damaged areas. If you can repair it for less than that, you will have a bargain, albeit one that is probably not to Porsche spec.
I am not sure if I still have a bargain if the repair cost is gonna go beyond 5-8k. they will inform me on Monday to finalise the sale. I am still little nervous as I don't have much experience in Porsche cars. Hopefully there is nothing wrong with the engine.