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83 Targa
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Divorce and Valuations
Has anyone ever had "her" attorney place a high value on your Porsche?
I am in the midst of a divorce and have tracked the P-car market pretty closely for 10 years, but I am no expert by any means. In short, I have an '83 Targa with 81k miles which I bought 2 years ago for $16,000. It needed a clutch and I did that myself along with the while your in there stuff. The head studs have not been done, but I will likely need to be done. It is a 5 ft car with a good guards red respray and the targa top had a complete refurb. The hood and front corner panels have been reworked and the paint looks slightly different due to that guards red matching issue. I need to do more work, calipers, brakelines, CIS sorting, electrical short, head studs....., but I won't do anything right now to increase its value. I like putting sweat into this, but what is the point of doing that now. Her attorney will place a $30K value on it, and I will probably just slide the title across the table, congratulate her on her new Porsche, and start searching for my next Targa. Has anyone had a similar experience? How do you think an appraiser would treat this car's value? |
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12-06-2014, 05:53 AM
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non-whiner
Join Date: Aug 2012
Location: Slightly right of center
Posts: 5,235
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Good tactic. Figure your value point. If her attorney is higher, give it to her and take value. If lower, keep it and apply the difference as your gain in the property settlement.
However, this sounds like a negotiation ploy. She figures the targa is your baby and you want to keep it, so they overvalue it. Once you push the title, they then under value it. Your best bet will be a professional appraisal that then allows you to apply the tactic above. Good luck, divorce sucks!
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"Too much is just enough." |
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12-06-2014, 06:02 AM
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Registered
Join Date: May 2012
Posts: 265
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As mreid said. It's bs. Sorry abt ur divorce
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12-06-2014, 06:28 AM
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83 Targa
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Thanks everyone and no worries about the divorce. It's all about getting to a better place
 The worse case is I end up with another garage spot for a coupe . I sent her a notice a few months ago that Haggerty had my car between $21K and $25k, In an effort to be above board and disclose everything. I also added that the head stud issue posed a $5k issue. Alas, she will have to come up to speed on our head stud issues. LOL I am sure an appraiser will take everything into consideration. Thanks again! |
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12-06-2014, 06:57 AM
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Troll Hunter
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Best of luck with this going smoothly. The attorney has many cards to play, and I'm sure this is just one of them.
My guess is it will end up above the value you think is fair.
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1978 SC Coupe, Gris Argent Metallic Silver 1988 FJ62 Blue/Gray 2020 M2 CS |
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12-06-2014, 07:36 AM
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Registered User
Join Date: Jun 2012
Posts: 1,544
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Quote:
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12-06-2014, 10:49 AM
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Troll Hunter
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Somebody once said:
"It's nobodies fault. These things happen. Best to be done with it asap." Good advice.
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1978 SC Coupe, Gris Argent Metallic Silver 1988 FJ62 Blue/Gray 2020 M2 CS |
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12-06-2014, 11:38 AM
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83 Targa
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Quote:
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12-06-2014, 12:40 PM
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gearhead
Join Date: Nov 2007
Location: Loverland, CO
Posts: 23,522
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Let her have it. And like a flipper do not disclose the needed repairs. Then watch for the FS listings and bird dog it so everyone knows it needs the repairs. If she wants to play dirty leg her.
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12-06-2014, 02:26 PM
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83 Targa
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Quote:
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12-06-2014, 04:55 PM
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gearhead
Join Date: Nov 2007
Location: Loverland, CO
Posts: 23,522
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Auto correct. I wrote let.
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12-06-2014, 06:00 PM
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Registered User
Join Date: Jun 2012
Posts: 1,544
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Quote:
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12-06-2014, 07:25 PM
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1959 A Coupe
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I will buy for a dollar and store it for you, you can give her half, and buy it back for $2 when you finalize the D. The 100% price increase reflects the current P market.
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12-07-2014, 04:29 AM
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83 Targa
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I think I know you Trooper. LOL
She can have it...It's hotrod time! |
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12-07-2014, 05:09 AM
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Registered
Join Date: Jun 2008
Posts: 484
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I went through this exact situation a few years ago. My wife's attorney didn't put a value on the car up front though. The divorce master pulled out the NADA book to value the car at $13k. Wife's attorney tried to throw out that the car was a collector's item in a rare color. I responded by saying it was just an old used car. The $13k value stood (the car was worth more than twice that). My only victory in the whole process.
In your case, I'd attempt either the same tactic or whip out the bill of sale when from when you purchased it. If my wife had that, in my case, things would have transpired differently. As it was, I had to give her one of my Rolexes. Needless to say, I gave her the one that kept crappy time and had several unfortunate collisions with cinder block walls. Keep your chin up. It's a hellish process to go through. But I always go back to the axiom that divorces are so expensive because they're worth it.
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97 Carrera Coupe - Red 89 Carrera Coupe - Baltic Blue - Sold |
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12-07-2014, 05:53 AM
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non-whiner
Join Date: Aug 2012
Location: Slightly right of center
Posts: 5,235
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Unfortunately, successfully property settlements, at least from the perspective of the courts, are when neither party is happy. Personally, I'd just be happy to be rid of the irritant.
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"Too much is just enough." |
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12-07-2014, 05:59 AM
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Registered User
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If you want to keep it, and they over-value it in the settlement, there is always the option of having a friend buy it when she posts it up for sale.
But I would expect her to just trade it in on a new Lexus or something -- haven't met a lot of women who like to dick with used cars -- especially old ones. Unless it is just pure spite, over-valuing it is a bad play on her attorney's part. They will lose money both ways -- in the settlement, and then when they have to pay a broker to sell it. Best bet is always to be the adult in these situations.
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07 Boxster 88 Carrera Cabriolet 3.2 (sold) 05 Boxster S (sold) |
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12-07-2014, 07:16 AM
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Registered
Join Date: Nov 2013
Location: NW NJ
Posts: 1,242
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My ex did this with the house value. She tried to claim it was worth more than reality and even had an appraiser friend of her new boyfriends produce an inflated valuation. I told her: "Perfect. I want half that and you keep the house." Only problem was she didn't want the house and I knew it. She had to show her cards once I called her bluff and I actually got the house for below value and went out and bought my 930 shortly after the divorce was finished and now park it in her old spot in the garage!
The key is to not be emotionally attached and be willing to give her anything that she is over valuing. You will win either way in that scenario.
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1988 930 Venetian Blue |
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12-07-2014, 07:21 AM
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83 Targa
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Thanks for the grounding and the valued experiences. Her attorney wants to know about my watches too. I said she can have them, and the carbon fiber road bike, tools and lots of golf clubs too. I have been above board and disclosed everything through this whole process and I am not really attached to anything except the idea of getting to a better place (ok and probably a long hood tribute with a ducktail
 )
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12-07-2014, 10:36 AM
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Registered
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12-07-2014, 10:59 AM
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Targa Red
James Brown
KEMOSAHB
Landcruiser
Fred
2007 
1986 
Bandido
1988 Porsche 911 Carrera Cabriolet
2007 Porsche Boxster
2000 Porsche 996
1986 Porsche 944
SOLD
1991 Porsche 911 Carrera 4
