Middie Drivers - What Say YE on Agreed Values?

[74-911]

With all the threads on 911 values and the insurance on my '74 up for renewal shortly perhaps now is a good time to discuss agreed values for our black sheep 911's.
Case in point: 3 '74s on Houston's Craigslist. 2 coup's which look to be decent condition drivers - asking 30K and a Targa which needs body work and the engine/trans are not in the car and the engine is disassembled - asking 17.5K and says don't waste time low-balling. Not to mention the really rusted / trashed examples with asking prices in the 10-15K range and above which are showing up here. If sellers are getting anywhere near the asking prices for '74's and other middies I am seeing I am way low

1974 911 2.7L with "S" option gauges and suspension, 149K miles
engine: complete engine rebuild in 1989 by Jones Autowerke in San Antonio: time certs, Carrera tensioners, all exhaust valves replaced, Turbatrol oil cooler
exterior: glass out repaint in 1991, except for a couple of minor dings paint looks as new, no rust that I am aware of.
interior: front seats and sun visors recovered, rest is original and in good conditon.
suspension: front and rear suspensions completely rebuilt in last 5 years.
as with all, a restoration still in progress.




Per Hagerty, my '74 is a condition 3 car (upper end me thinks) and value is around 19K. I currently have 20K agreed value.

What say ye? $20K is low, about right, high ??

How do you have your middie valued ??

[Joe Bob]

Check the FS ads, then decide.

[75 911s]

Nice ride Jack! clean!

20k does seem low. Gotta ask yourself what it would take to replace your car. I've got a long way to go to make mine as nice as yours and I would value mine at 15k

This is now a midyear picture thread!

[Zaz]

I don't get Haggerty with the middies- their values don't reflect the market that I see. Your car is a nice non-sunroof, rust free original stock example with all needed upgrades tended to. Even has the proper side mirrors.

The 12/21 thread in this forum ("1974-the new normal...") is current evidence that if that car, which has needs (steelies and some rust, not to mention an apparent lack of maintenance/care) can reach ~$24K on this blog and $25K on EBay (not reaching the reserve), your car should do 20% more ($30K) all day long. Snoop around and see what you can find online and it will be clear that you couldn't replace your car for less (certainly not less that $27.5).

[74-911]

Originally Posted by Joe Bob

Check the FS ads, then decide.

Damn... I've apparently been asleep at the wheel re: middie prices. If some of those '74's bring anywhere near what they are asking I need to double the agreed value..

Zaz; Based on the FS ads here, I doubt I could replace it for < 30K. Just a complete engine rebuild and glass out respray would eat up 2/3's or more of 30K. I agree, Hagerty values do not seem to reflect what we are seeing here anyway.

[mreid]

Mines a bastard child. 1974 converted to all steel wide body, rsr bumpers, 3.6 993 engine with pmos, rebuilt 915 with Guard LSD, coil overs all around, rebuilt suspension, new brakes, rs interior, roll bar, 5 point, etc. Paint is a 10 footer, but still looks bad azz. I'm guessing $45k?

[brianvb]

I have a one owner targa middie, I wouldn't part with it under 35k$.

[thamlin000]

I bought a 77 coupe with 93k mi less than a year ago for $25k. All the correct mid year required upgrades with 30k on rebuilt engine. Records from 1987. My car is not fully stock but not over modified either.

I'd say that OP's is $30k or better. 74 is a good year. And Jones Autowerks in San Antonio is a top notch Porsche shop for an engine rebuild. Our family 944 was serviced there in th 80s. As a kid, I used to wonder through the 356 junk yard out in back of their shop.

[Jim2]

Just looked at Hagarty and they are WAAAAY off, it seems odd. The numbers they quote are in line with what I sold two middies for back in the late 2000s, a 75 and 77.

I've got a 74 tub for sale and starting to wonder if I should be holding onto it.

[Rick Brooklyn]

I really like this middie

1974 911 Targa (Blue Plate) - Trissl Sports Cars

[Matt Monson]

I wouldn't insure that car for less than $30k and if the agent didn't fight me I would go for $35

[Matt Monson]

Worth a read. Up 154%!
Vintage Porsches Are Rising as the Next Blue Chip Classic Cars - Bloomberg Business

[NYNick]

These are the 'entry level' 911's these days. Buy one and fix it. You won't lose your money.

[74-911]

Originally Posted by Matt Monson

I wouldn't insure that car for less than $30k and if the agent didn't fight me I would go for $35

Appreciate the responses gentlemen. After more I research I believe it would take at least $30-35K to replace the '74. Will see what American Collectors Ins. says here in a couple of months. Just find it interesting that Hagerty seems to be way behind the curve on these values and their valuations are what I have used in the past for agreed value guidance ?

[CountD]

Hagerty has a great write-up on mid-year 911s though.

The writer writes that very few midyears seemed to have survived.

And I agree with him, especially the non-galvanized '74 and '75.

What's interesting about this is that I have been a hardcore 911 fan since I was around 12 when I got my first ride in a SC. That would make it 1982. I have lived in many places including Arizona for college, and then California for more than 10 years. In all that time I only saw four midyears. I saw dozens of SCs and Carreras.

Point being: Even being a Porsche enthusiast that notices every 911 on the road a running midyear is a sight to see. They are the truly dark years of '70s Porsche, but they are coming into the light. So many must have been parted, rusted, or cut up. I admit I had a bias towards them until I owned two. They feel like the early cars. Especially the '74 and '75.

[Christien]

Years ago there was a rule that any running air cooled 911 under $10k was a steal. That number is at least 20 now, I'd say. IMO there's no reason not to increase your coverage, especially considering the minimal bump in premiums with Hagerty. Will it mean more than $50/year in increased premiums? That's cheap peace of mind if you ask me.

Middies used to be the bottom of the barrel 911 because of the potential problems with the 2.7s. I would guess that fear is no longer a factor, hence the upswing in prices.

[Matt Monson]

Originally Posted by 74-911

Appreciate the responses gentlemen. After more I research I believe it would take at least $30-35K to replace the '74. Will see what American Collectors Ins. says here in a couple of months. Just find it interesting that Hagerty seems to be way behind the curve on these values and their valuations are what I have used in the past for agreed value guidance ?

Hagerty has been behind for the last two years as the values have gone up. They are consistently 3-6 months behind true market value on all segments of air cooled cars.

[avr924]

FWIW, I looked at the 74 targa in Houston, it needs a lot but the guy will work on the price. He told me 12.5K would buy it, it does have sc Flares welded in and bubbling and parts are spread out. Don't know if the work required to bring it to life would justify it even at that price.. If anyone wants info feel free to PM me, I looked the car over and met the owner.

[Otter74]

I'm curious about the rationale for this, and this may be sort of a naive question.

(I bought my car this summer for under $20k in go-anywhere and mildly upgraded condition, so I'd say it was a steal and I'm thrilled with it.)

If someone hits you and its their fault, their insurance is going to be the one compensating you unless you live in a no-fault state like Michigan. Then you're dealing with negotiating with them or fighting their inevitably low offer, etc.

Dealing with Hagerty or etc. as your own provider only comes into it if there is no other at-fault party. Or am I missing something? Say, with agreed-value policies does your own provider pay the claim and then go after the other party's provider?

Originally Posted by Christien

Years ago there was a rule that any running air cooled 911 under $10k was a steal. That number is at least 20 now, I'd say. IMO there's no reason not to increase your coverage, especially considering the minimal bump in premiums with Hagerty. Will it mean more than $50/year in increased premiums? That's cheap peace of mind if you ask me.

Middies used to be the bottom of the barrel 911 because of the potential problems with the 2.7s. I would guess that fear is no longer a factor, hence the upswing in prices.

[matt930s]

I believe your insurance company will make you whole and then go after the other ins company....

MattR