911 Appraisal

I had my 1970 911E appraised for insurance purposes. The answer is $9800. Obviously I think it's worth more and I plan to keep it for the rest of my life.

It is rust free.
Has upgraded tensioners.
Electronic ignition.
Weber carbs.
Recently reupholstered seats.
All new carpetting in the interior.
Has 170,000 miles - 65,000 since complete rebuild of engine and transmission (uses about one quart of oil every 3,000 miles.)
Has 16" Fuchs wheels.
I had it painted in the spring (original green) and replaced everything with new body seals.
Gave it three coats of undercoat myself.

Sure there's a few things I'd like to fix - there's a crack in the dash and the headliner is a little tarnished. Apart from that it is in beautiful shape.

Should I find another appraiser or am I just unable to be objective about my 911?

Just my opinion, but $10K for a 170,000 mile, carb'ed '70 E does not seem significantly too low.

Allan,

Considering that your area of Florida is not a depressed region, that does seem a bit low! Bruce Anderson has recently said that prices of early cars are rising ... and I suspect they go up $2 for every $1 drop in 2.7 cars of the 'heat-overstressed' variety, but I am not exactly unbiased! Your appraiser may have used a NADA Blue Book as a guide, and it is notoriously inaccurate for 911 values! I presume what you are after is a fair replacement cost, not a discounted dealer valuation on a trade-in, right?

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Warren Hall
1973 911S Targa

also, if you are concerned about the value being too low, why don't you get a stated value policy? You can agree to a value up front, and the insurance company will pretty much accept your valuation and set its premium accordingly. That is what I have done with my 911, and in the event of a catastrophy, there won't be any wrangling as to the value of the car, b/c we've agreed on that up front.

I guess what I am looking at is what it would cost me to replace the car if it was totally destroyed. I'd hate to have to try on a budget of $10K.

Thanks for the help.

I'm hoping (ok maybe dreaming) that I could get more like $20K for mine, also a 70E. It is just about fully restored now. Everything is either new/rebuilt/replated. Numbers match. Has original spare, radio, toolkit, etc. I know I could not replace it with a like car for less than $18-24K, at least not here in So Cal.

I will be submitting receipts and photos to my insurance shortly to back up the stated value of the car. I'm going to try to get agreed coverage for $25K, not sure if that will fly, but if I pay for the coverage it should.

Good luck w/ yours,
Chris C.

My situation is not exactly the same but entails some of the same issues. My '78SC is highly modified with expensive parts. I had a Porsche mechanic apraise the car for replacement value using parts of equal quality. The result was over $25K. This seems rediculous for an SC but not so rediculous if you take a close look at what's been done. Replacement value is not the same as resale value. We all know a car is worth only what someone will pay for it. My insurance agent was OK with these figures. I gave him pictures and part numbers for his file. With the addition of "specialty car" status and unlimited mileage the premiums are very acceptable.

Definitely get a stated value policy with your insurance company to avoid the hassle. Also, as far as blue book values, a friend of mine who works for a consignment shop for sports cars told me that their rule of thumb for P-cars is to add at least 5K to the blue book values for the trade-in to retail values.

SF Bay Area
jrdavid68

On the recommendation of a friend, I insured my 69 911T with Hagerty Insurance. You agree on a value for your car and they adjust your premiums. Their rates are exceptional and they seem to appreciate classic car owners.

David

David, would you be kind enough to let me know how I can contact Hagerty insurance. Thanks, Allan.

I second Hagerty! They walked me through it and were very informed about our cars.

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Mark Isaak
'74 Targa

No question about it, you car is worth more, regardless of resale or replacement values. I mean, there are a lot of used cars out there for sale in the $10k range. Compare any one of them to your car.

My point is that if an early 911 is original but for the important upgrades (tensioners, engine rebuild, possibley with upgraded head studs....), then your car is quick and fun, reliable as any other car in the world, and a classic beauty. It's no wonder you feel this way. Just had to say this.

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'83 SC

Allan,

As you know, I recently completed a litlle restoration(and upgrade) on my 70 E and ended up purchasing insurance through State Farm(South Florida) on an agreed value of $25,000. The cost was $200 every six months for 3500 miles annually. The stack of receipts for new items made value justification easy. Leland West is supposed to be pretty good as well. I hope all is well. Happy Holidays.

Rich

Hagerty can be reached at 800.922.4050

or www.hagerty.com

Good luck,
David