PCA Valuation

[Superman]

I've let my PCA membership lapse. I wonder if anyone who is a member would be interested in getting a valuation for me. It is free. I can provide my home address for them to send to, if someone PM's me. The car is:

1983 911 SC Coupe





Electric Sunroof

A/C

Cruise

Fog Lights

16” Wheels

Intermittent Wipers

Heated Electric Power Mirrors

Heated Rear Window

Electric Windows



The form is:

PCA.org : Home : Member Services & Contacts: Valuation







Valuation

Online Valuation Form

The PCA Valuation Program

The Valuation Committee was established by the Executive Council in 1979 to help PCA members insure older model Porsches. There is no charge to PCA members for this service.

Specifically, there are two problem areas in which we try to help. One, obtaining a proper level of insurance coverage for an older Porsche that might otherwise be considered nearly valueless by an insurer, and two, establishing a proper value for an older Porsche in the case of a claim settlement dispute where the owner thinks the recently-deceased Porsche is worth more (sometimes considerably more) than does his insurance company.

We don't do anything else. By PCA policy we don't have an inventory list of used Porsches for sale that we can use to find just that car you want. We also don't help you price your car for the upcoming issue of PANO, or tell you if the asking price of a particular car is fair. That would be influencing the market, and we only report on the market.

Which Porsches are included?

Within these ground rules, just what "older" Porsches does the committee cover? The table below has the answer. You'll notice immediately that newer models aren't covered. The new years are covered by the various industry "blue books" and we couldn't argue with these learned sources even if we wanted to.

Models Covered

356, 356A, 356B, 356C

Coupe and Cabriolet

1959 Convertible D

356 Speedster
1966-69 912

1976 912E

1973-76 914/2.0

914/6
1965-97 911

1976-79 930

1983-91 944

1986-89 944 Turbo

1992-95 968

Models NOT Covered

356A Carrera

Coupe and Cabriolet

924, 924S, 928
Racing models

Limited production models (1973 Carrera RS, 1993 RS America, etc.)
914/1.7 & 1.8

All models 1998-on

All 911 Turbos (930) 1980-on


The reasons behind the non-coverage of certain year/models fall into one or more of several categories, including too new, lack of sufficient database to support a valuation, rampant speculation in prices of some models, lack of interest to justify the work required, and perhaps others.

How are the statistics gathered?

The committee collects and reports to you data that is designed to help in one of the two areas of insurance listed above. The procedure used is relatively straightforward. Prices are recorded monthly from newspapers gathered from major cities around the country, plus several other automotive publications including Panorama, Hemmings Motor News, and the 356 Registry. Altogether, about 400 to as many as 500 individual entries are recorded each month for the set of Porsche model/year categories.

The results are averaged in each model/year grouping, and a normal statistical process is applied that identifies the upper and lower bounds of the price spread such that 80 percent of the cars are included. This price spread reflects the variation in the values due to condition of the cars. The top ten percent (the nearly perfect concours cars) and the bottom ten percent (the real beaters) are outside the price range we provide.

In recording the basic data entries, some prices are omitted. For example, "1976 911S, no floors and only rolled once" would not even be entered. Nor would "1965 356 Cab, 6,000 total miles, winner of six straight zone concours." Porsches such as these are simply outside the acceptable database.

What the committee can't do.

Don't misunderstand about the PCA valuations; we do not evaluate your particular Porsche. What we do provide is a range of values for your specific year and model. The range of values provided indicates the spread in value as a function of condition. The average price provided to you is representative of an average condition Porsche of that year and model. The high value provided is appropriate for a true street concours Porsche and the low value given is about what a fairly disreputable Porsche in need of some work and TLC should bring.

How to do your part.

The form you get from us explains where we get the data, what we do with it, what it means, and what you should do with it. It is your job to place your Porsche in its proper place in the spread of condition. This part is not really so difficult. Service records, repair receipts, big clear photographs, concours judging forms from a regional or zone event, or an independent inspection by your local dealer or an independent service shop will help. Consider dividing your receipts into "maintenance" and "restoration" groupings for ease in making your case. Maintenance maintains the status quo, so to speak, but restoration expenses go directly toward raising the conditional value.

The information provided to you by the valuation committee on the form is based on a moving six-month window, which is advanced each month. A typical valuation is based on 30 to 60 data points, easily enough to be credible. In some cases where the data is sparse, the length of the window is increased to as much as a year for the purpose of increasing the size of the database.

A good success rate.

We have had nearly complete success in justifying amounts of "stated value" or "declared value" insurance coverage, but in these cases you are paying the insurance company and they frequently are not hard to convince to take your money. In the case of supporting a fair settlement for a stolen, totally wrecked or burned Porsche, our record is quite good — not perfect, mind you, but we have been able to help in a majority of cases.

Now there's an important point to be made here, so pay close attention. One of the saddest problems we see, and get numerous letters about, is the case where a Porsche owner has invested thousands of dollars modifying his or her car and hasn't told his insurance company about it. He's paying insurance premiums on a car that the insurance people think is worth a few thousand dollars, while he's sitting there with maybe $20,000 invested.

Then the car is lost, wrecked, stolen, burned or maybe elopes with a young 944, and the poor owner is in a truly major hassle with the insurance folks. He has been paying relatively low premiums, but expects his full investment back. Sorry to say, he's probably out of luck. Don't get yourself into this kind of situation. Read on.

How do you receive and use a valuation?

The procedure to get a valuation is simple:

Use the Online Valuation Form or print out the paper-ready Valuation Request Form using your Web browser's print feature.

Complete all information requested.

If using the printed version:
Include a stamped, self-addressed, business-size envelope.

Mail to:
PCA Valuation Committee
2471 Briarwood Drive
San Jose, CA 95125

We'll send you back the complete valuation form within a few days. Armed with the value spread for your car, which reflects the condition spread, it is relatively simple for you and your insurance person to agree on an insurable value. You may agree that your Porsche is (or was) in "average" or "halfway between average and top" or "ten percent below average" condition, or some such conditional description. Then you have the prices to correspond to your description.

In the situation of loss claims, the valuations are useful in the case of total loss, theft, fire, or unquestioned total wreckage. In many cases of extensive damage, the valuation can help determine whether or not the car is "totaled", and/or in establishing a reasonable maximum level for the cost of repairs. The values are not much help in getting a minor dent fixed, no matter how upset you are about it, but you get the idea. A copy of the PCA valuation form in your files (updated every year), with a copy sent to your insurance agent along with some data to show your car's condition, might someday be worth more money and avoided trouble to you than you'd believe.

[Superman]

BTW, the form can be filed on line.

[pwd72s]

Sorry Super...I quit after 39 years as a member...what's happening? Insurance co. giving you fits?

[Superman]

Not yet. But I like to know the outcome of a battle before the first shot is fired. I read Sun Tsu's book.