Important! Help me critique an Ebay '73S targa

Neilk · 05-25-2003, 07:56 AM

I need your help.

My '73S targa was recently backed into causing at least $7k in damage. The insurance adjuster came by and made a really bad and incomplete estimate of $4,200 and now the insurance company is talking about totaling the car. They are supposedly researching the value of my car and will tell me on Tuesday or Wednesday what they are going to do. I mentioned that the least expensive '73S targa I have seen on the market was for $20k.

Now

this ebay horror shows up. The insurance company might try to use this one to establish a market value even though it is bad shape. I'd like to be ready in case they do. I would like to compile a list of everything wrong with the car so I can shoot them down and get my car fixed. I will probably end up getting a lawyer, but I would rather avoid that if I can.

The seller is pretty clear that it needs work, but I want to be armed and ready.

At a quick glance I have noticed the following problems with the car
*cracked dash - mentioned in ad
*new windshield - mentioned in ad
*new tires - mentioned in ad
*new paint - mentioned in ad
*Bad targa top - mentioned in ad

No front bumper pads
Wrong Mirrors
Black powder coated targa bar
Black targa window trim instead of chrome
mismatched rear turn signal lenses- silver/black
Incorrect PORSCHE script on engine lid
Rusted rear valance
torn passenger seat

Thanks for the help,

Dantilla · 05-25-2003, 08:07 AM

The ad states "These cars are selling for $25,000 and up in excellent shape".

Make sure you point that line out!

reesestewww · reesestewww's Garage

Quote:

Originally posted by Dantilla
The ad states "These cars are selling for $25,000 and up in excellent shape".

Make sure you point that line out!

That's a great point!!!

1973911s · 05-25-2003, 08:42 AM

I sold my 911s Targa to someone else on this board. If you would like to know what it sold for send me a message, that might help you out.

Zuff911 · Zuff911's Garage

Rust on the lower edge of the door? Quite often this mean replacing the door. Look at the front pan ahead of the gas tank, looks rusty to me. May just be surface rust or it could just be the tip of the ice berg up there. He also casually mentions that it needs to be re-painted. A quality re-paint worthy of a 911S is going to cost 3000-5000. Bringing this car up to good condition cost at least 7000-8000 in my opinion.
-brad

blau911 · 05-25-2003, 10:08 AM

Also, the Ebay seller opens his description by stating that the car is "ready for restoration". The car is therefore unrestored, and not a good basis for placing a value on a good restored example.
By the way, targa hoop has been painted black as well. Ugh...

HarryD · 05-25-2003, 10:29 AM

Neil,

Do your own research on prices for cars in similar condition. Use Lord Bruce's published info if it helps your cause. Shower the adjuster with your data. He is most likely using the "standard" sources that are very poor for these early cars. The more leg work you do for him, the more willing he will be to move up on the valuation.

good luck.

curtisaa · 05-25-2003, 10:53 AM

I've seen this post on another board, and my curiosity is this. Why are intersted in the value of your car, over getting the car repaired corectly ?? As I have stated to you before, your carriers' estimate to fix your car sounds very reasonable, after you posted the pictures of the damage. I would hope you're not alluding to possibility of "letting" your carrier TOTAL you're S so that would reap a reward of $25,000.00...it just doesn't add up!!

Neilk · 05-25-2003, 11:26 AM

Thanks everyone for the help.

Curtis,

I am interested in the value because if the carrier only values my car at $7k, then they could declare it a total loss. I am NOT expecting to reap a $25k reward, nor do I want one. That wouldn't be right. I just want to get my car fixed properly, not have it totaled! Why do you think I am trying to get away with something that I don't deserve?

The estimates I have gotten include about $4k in parts alone... new left fender, front bulkhead, hood, bumper pad, turn signal lense, horn grill and assorted seals. Labor isn't free so it can add up to $7k plus very quickly.

Lastly, what's up with the other board? I haven't been able to access it for the past couple of days.

jbryant · 05-25-2003, 11:38 AM

Read Motions thread on his recent totaled car. It is a "how to" on dealing with the Ins. companies.

curtisaa · 05-25-2003, 11:38 AM

Insurance carriers cannot "TOTAL" esoteric cars without the owners permission. If you're insistant on fixing ( like you said) your car, fix it. Take your car to the best shop in your area and tell them to fix it, and the carrier has NO say on the matter other than fighting with the shop on what the charges are. But seriously Neil, it's not that bad..Like I've stated to you in a previous post, the critical factor here is matching your existing paint. In that case, your carrier might have to pay for a complete respray...which the carrier will vehimently protest, and then you may be in for a little skirmish. Read through the comprehensive part of the policy thoroughly and make copious notes, and send them to the adjustor. Good luck

Elfer · 05-25-2003, 11:48 AM

I agree with Neil on this one. Neil is trying to get a basis on what his car is worth. Why? As he has stated, if the carrier values his car at say, $7,000, and the estimate is $4,000, then the carrier will total his car and cut him a check for $7,000 for his 73S. I think Neil is just trying to protect his interest in case the insurance values his car at $7,000 based on the market value which this S on ebay might be used as a so called guideline.
I followed this post and didnt see anywhere that Neil wanted the figure of $25,000. I think the $25,000 figure came from the ebay ad description and not from Neil.

speeder · speeder's Garage

Uh......, you really think that an insurance company could force/total a nice '73 911S w/ a dented fender and value it at $7k?? Put down the crack pipe, homie.

Neilk · 05-25-2003, 02:48 PM

Dennis,

State Farm, the other driver's insurance, is telling me that my car has been sent to the total loss dept. to have a value established. Perhaps they are perplexed at '73 911S values and are trying to figure out a way to screw me. I doubt that a huge insurance company like State Farm wouldn't have the value of my car in their DB.

I have already searched all online car sites and printed the ads of all early 911S on the market today. The one on Ebay is the cheapest by far. The next cheapest one is going for $20k. Obviously those are asking prices and aren't actual values, but if it helps my case, cool.

curtisaa · 05-25-2003, 03:21 PM

I might be the last one that sold a 73S Targa as recently as 45 days ago. I would be delighted to enlighten State Farm with a copy of the buyers check. You won't have a problem Neil.

PS...Neil ...I sent you a PM

speeder · speeder's Garage

Other sources should be EarlySregistry classified ads, (where you can also demonstrate/proove that early 911Ss have SOLD QUICKLY for $20k+), Hemmings online, etc. They have to be able to show comprable cars to yours for sale for their claimed value, forget about the ebay car, rusty early 911s are parts cars.

There are documented sales, (Barrett Jackson, Pebble Beach, etc.), of mint '73 911Ss going for $50k+ going back to late '80s/early '90s. You have really nothing to worry about, IMO.

Dantilla · 05-25-2003, 07:22 PM

"...the carrier has NO say..."

When my truck was hit a few years ago, and had a bit of a dissagreement with an insurance company, I took the truck to the shop and told them to fix it. Since the insurance company had not okayed any work, the shop made me the responsible party to pay for any work done. If I told them to fix the truck, I pay, and hopefully, the insurance company figures out why it exists before it's time to write a check.

The carrier has no say, but it CAN say no.